HANOVER INSURANCE GROUP, INC.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
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Other Items
Net income also included the following items:
| (in millions) | ||||||
|---|---|---|---|---|---|---|
| 2025 | Core Commercial | Specialty | PersonalLines | Other | DiscontinuedOperations | Total |
| Net realized and unrealized investment losses | $(20.8) | $(10.5) | $(13.4) | $(1.3) | $— | $(46.0) |
| Discontinued Chaucer business, net of taxes | — | — | — | — | 0.3 | 0.3 |
| Discontinued life businesses, net of taxes | — | — | — | — | 1.5 | 1.5 |
| Net realized and unrealized investment losses | $(33.4) | $(16.6) | $(21.0) | $(4.8) | $— | $(75.8) |
| Other non-operating items | — | — | — | (2.4) | — | (2.4) |
| Discontinued Chaucer business, net of taxes | — | — | — | — | 0.7 | 0.7 |
| Net realized and unrealized investment gains (losses) | $(15.6) | $(7.3) | $(9.7) | $0.1 | $— | $(32.5) |
| Other non-operating items | — | — | 0.2 | 1.9 | — | 2.1 |
| Discontinued Chaucer business, net of taxes | — | — | — | — | 1.2 | 1.2 |
| Discontinued life businesses, net of taxes | — | — | — | — | 0.6 | 0.6 |
We manage investment assets for our Core Commercial, Specialty, Personal Lines and Other segments based on the requirements of our combined property and casualty insurance companies. We allocate the investment income, expenses and net realized and unrealized gains and losses to our Core Commercial, Specialty, Personal Lines and Other segments based on actuarial information related to the underlying businesses.
Net realized and unrealized investment losses were $46.0 million in 2025 compared to $75.8 million in 2024. Net realized and unrealized investment losses in 2025 were primarily due to $61.7 million of net realized losses from sales of investments, primarily lower-yield fixed maturities, in consideration of expiring tax gains from 2022, partially offset by changes in the fair value of equity securities of $18.8 million. Net realized and unrealized investment losses in 2024 were primarily due to $84.2 million of net realized losses from sales of investments, primarily fixed maturities, and, to a lesser extent, from impairment losses on investments, including $3.6 million of credit-related impairments and $2.2 million of losses related to intent to sell securities.
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