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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Statutory Surplus of Insurance Subsidiaries
The following table reflects statutory surplus for our insurance subsidiaries:
| DECEMBER 31 | 2025 | 2024 |
|---|---|---|
| (in millions) | ||
| Total Statutory Capital and Surplus | $3,337.9 | $2,971.7 |
The statutory capital and surplus for our insurance subsidiaries increased $366.2 million during 2025. This increase was primarily due to operating profits, partially offset by payments of $295.0 million in dividends to its parent company and, to a lesser extent, net realized and unrealized investment losses.
The NAIC prescribes an annual calculation regarding risk based capital (“RBC”). RBC ratios for regulatory purposes, as described in the glossary, are expressed as a percentage of the capital required to be above the Authorized Control Level (the “Regulatory Scale”); however, in the insurance industry, RBC ratios are widely expressed as a percentage of the Company Action Level. The following table reflects the Company Action Level, the Authorized Control Level and RBC ratios for Hanover Insurance (which includes Citizens and other insurance subsidiaries), as of December 31, 2025 and 2024, expressed both on the Industry Scale (Total Adjusted Capital divided by the Company Action Level) and Regulatory Scale (Total Adjusted Capital divided by Authorized Control Level):
| (dollars in millions) | ||||
|---|---|---|---|---|
| DECEMBER 31, 2025 | Company ActionLevel | AuthorizedControlLevel | RBC RatioIndustryScale | RBC RatioRegulatoryScale |
| The Hanover Insurance Company | $1,504.7 | $752.4 | 221% | 442% |
| The Hanover Insurance Company | $1,411.4 | $705.7 | 210% | 420% |
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