HANOVER INSURANCE GROUP, INC.
For the period ended Sep 30, 2026. Filed Oct 29, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Oct 29, 2026
THG$250.21+2.0%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
| Nine Months Ended | ||
|---|---|---|
| September 30, | ||
| (In millions) | 2026 | 2025 |
| Cash Flows From Operating Activities | ||
| Net income | $551.0 | $464.0 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Net realized and unrealized investment losses | 13.8 | 29.8 |
| Net amortization and depreciation | (5.1) | (3.3) |
| Stock-based compensation expense | 30.4 | 27.8 |
| Amortization of defined benefit plan costs | 5.1 | 5.0 |
| Deferred income tax expense (benefit) | (8.6) | 10.4 |
| Change in deferred acquisition costs | (38.8) | (45.5) |
| Change in premiums receivable, net of reinsurance premiums payable | (133.8) | (126.8) |
| Change in loss, loss adjustment expense and unearned premium reserves | 665.6 | 468.6 |
| Change in reinsurance recoverable | (160.0) | 19.6 |
| Change in expenses and taxes payable | (86.2) | (70.7) |
| Other, net | 17.5 | 21.0 |
| Net cash provided by operating activities | 850.9 | 799.9 |
| Cash Flows From Investing Activities | ||
| Proceeds from disposals and maturities of fixed maturities | 1,676.2 | 2,162.8 |
| Proceeds from disposals of equity securities and other investments | 100.1 | 72.8 |
| Purchase of fixed maturities | (2,447.2) | (2,807.2) |
| Purchase of equity securities and other investments | (82.8) | (64.5) |
| Capital expenditures | (8.2) | (6.5) |
| Net cash used in investing activities | (761.9) | (642.6) |
| Cash Flows From Financing Activities | ||
| Proceeds from exercise of employee stock options | 18.0 | 13.7 |
| Proceeds from issuance of debt, net | — | 495.0 |
| Dividends paid to shareholders | (99.5) | (96.9) |
| Repayment of debt | (375.0) | — |
| Repurchases of common stock | (228.3) | (74.6) |
| Other financing activities | (20.7) | (12.4) |
| Net cash (used in) provided by financing activities | (705.5) | 324.8 |
| Net change in cash and cash equivalents | (616.5) | 482.1 |
| Net change in cash related to discontinued operations | 0.1 | (1.9) |
| Cash and cash equivalents, beginning of period | 1,122.7 | 435.5 |
| Cash and cash equivalents, end of period | $506.3 | $915.7 |
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