汉诺威保险 2026年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES For the transition period fromtoCommission File Number 1-13754 THE HANOVER INSURANCE GROUP, INC.(Exact name of registrant as specified in its charter) TABLE OF CONTENTS PART I.FINANCIAL INFORMATION Consolidated Statements of Cash Flows6Notes to Interim Consolidated Financial Statements7Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations23 THE HANOVER INSURANCE GROUP, INC. AND SUBSIDIARIES NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 1. Basis of Presentation and Principles of Consolidation The accompanying unaudited consolidated financial statements of The Hanover Insurance Group, Inc. and its subsidiaries (“THG”or the “Company”) have been prepared in accordance with generally accepted accounting principles in the United States of The interim consolidated financial statements of THG include the accounts of The Hanover Insurance Company and CitizensInsurance Company of America, THG’s principal property and casualty companies, and other insurance and non-insurancesubsidiaries. These legal entities conduct their operations through several reporting segments discussed in Note 9 – “Segment The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptionsthat affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial In the opinion of the Company’s management, the accompanying interim consolidated financial statements reflect all adjustments,consisting of normal recurring items, necessary for a fair presentation of the financial position and results of operations. The resultsof operations for the three months ended March 31, 2026 are not necessarily indicative of the results to be expected for the full 2. New Accounting Pronouncements Recently Implemented Standards In December 2023, the Financial Accounting Standards Board (“FASB”) issued ASC Update No. 2023-09,Income Taxes (Topic740): Improvements to Income Tax Disclosures. This Update requires entities to disclose an annual tabular rate reconciliation, usingboth percentages and currency amounts, broken out into specific categories, to the extent those items exceed a specified threshold.In addition, all entities are required to disclose annual income taxes paid, net of refunds received, disaggregated by federal, state,and foreign jurisdictions, and for individual jurisdictions when the amount is at least five percent of total income tax payments, net Recently Issued Standards In September 2025, the FASB issued ASC Update No.2025-06, Intangibles - Goodwill and Other - Internal-Use Software(Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.This Update eliminates the traditionalthree-stage sequential software development model (preliminary, application development, and post-implementation) and insteadrequires capitalization to begin once management has authorized and commits funding to each software project, and completion ofthe software for its intended use is probable. The guidance states that the “probable-to-complete” recognition threshold is not metuntil significant development uncertainty has been resolved. Additionally, disclosure requirements for internal-use software havebeen updated to align with those for property, plant, and equipment under ASC 360-10,Property, Plant and Equipment - Overall, In November 2024, the FASB issued ASC Update No. 2024-03,Income Statement - Reporting Comprehensive Income - ExpenseDisaggregation Disclosures (Subtopic 220-40). This Update requires entities to disclose, at each interim and annual reportingperiod, specified information about certain costs and expenses in the notes to financial statements. Entities must disclose theamounts, in a tabular format, of relevant expense captions presented on the face of the income statement within continuingoperationsthat contain expenses associated with employee compensation,depreciation,and intangible asset amortization.Additionally, the Update requires qualitative disclosure of amounts remaining in relevant expense captions that are not separately 3. Investments A. Fixed maturities The amortized cost and fair value of available-for-sale fixed maturities were as follows: The amortized cost and fair value by maturity periods for fixed maturities are shown in the following table. Actual maturities maydiffer from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or B. Fixed maturity securities in an unrealized loss position The following tables provide information about the Company’s available-for-sale fixed maturity securities that were in anunrealized loss position at March