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WORCESTER, Mass. - The Hanover Insurance Group, Inc. (NYSE:THG), a $6.16 billion market cap insurer trading near its 52-week high, announced Tuesday it has priced a registered offering of $500 million aggregate principal amount of senior, unsecured 5.50% notes due September 1, 2035.
The company plans to use the net proceeds from the issuance to repay its outstanding 7.625% Senior Notes due October 2025 and its 4.500% Senior Notes due April 2026, with remaining funds allocated for general corporate purposes. The refinancing comes as the company maintains a moderate debt-to-equity ratio of 0.24.
The debt offering is expected to close on or around Thursday, August 21, according to the company’s press release statement. Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Morgan Stanley & Co. LLC are serving as joint book-running managers for the offering.
The offering is being made pursuant to an effective shelf registration filed with the Securities and Exchange Commission on August 18, 2025.
The Hanover Insurance Group operates as a holding company for several property and casualty insurance companies in the United States. The company provides insurance solutions through independent agents and brokers, offering standard and specialized insurance protection for small and mid-sized businesses, homes, automobiles, and other personal items.
In other recent news, The Hanover Insurance Group reported a strong performance for the second quarter of 2025, surpassing earnings expectations. The company achieved earnings per share of $4.35, significantly higher than the forecasted $3.12, which represents a 39.42% surprise. Revenue also exceeded expectations, reaching $1.65 billion compared to the anticipated $1.6 billion. In addition, Keefe, Bruyette & Woods raised its price target for Hanover Insurance Group to $190, up from $188, while maintaining an Outperform rating. This adjustment follows the company’s impressive earnings report and reflects confidence in its future performance. Furthermore, Hanover Insurance announced the appointment of Toni E. Mitchell as president of its technology and life sciences business. Mitchell will focus on expanding the company’s market presence in these sectors. These developments highlight the company’s strategic initiatives and ongoing efforts to strengthen its position in the industry.
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