The Hanover Insurance Group, Inc. (NYSE:THGA) Q2 2016 Earnings Conference Call - Preliminary Transcript

Jul 29, 2016 • 10:00 am ET


The Hanover Insurance Group, Inc. (NYSE:THGA) Q2 2016 Earnings Conference Call - Preliminary Transcript


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Good day, ladies and gentlemen, and welcome to The Hanover Insurance Group Second Quarter Earnings Conference Call. My name is Whitley and I will be your operator for today. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded for replay purposes. I will now turn the conference over to your host for today Oksana Lukasheva, Vice President of Investor Relations. Please proceed.

Oksana Lukasheva

Thank you, Whitley. Good morning and thank you for joining us for our second quarter conference call. We will begin today's call with prepared remarks from Joe Zubretsky, our President and Chief Executive Officer and our Interim Chief Financial Officer, Gene Bullis. Available to answer your questions after our prepared remarks are Dick Lavey, President of Personal Lines and Robinson, President of Specialty Lines, Jack Roche, President of Business Insurance and Johan Slabbert, Chief Executive Officer of Chaucer.

Before I turn the call over to Joe, let me note that our earnings press release, financial supplement and a complete slide presentation for today's call are available in the Investors section of our website at After the presentation, we will answer questions in the Q&A session. Our prepared remarks and responses to your questions today, other than statements of historical fact, include forward-looking statements, including our 2016 outlook.

There are certain factors that could cause actual results to differ materially from those anticipated by this press release, slide presentation and conference call. We caution you with respect to reliance on forward-looking statements, and in this respect to refer you to the forward-looking statement section in our press release, Slide 2 of the presentation deck and our filings with the SEC.

Today's discussion will also reference certain non-GAAP financial measures, such as operating income and accident share loss and combined ratios excluding catastrophes among others. A reconciliation of these non-GAAP financial measures to the closest GAAP measure on a historical basis can be found in the press release or the financial supplement, which are posted on our website, as I mentioned earlier.

With those comments, I will turn the call over to Joe.Thank you, Oksana. Good morning and welcome to our second quarter earnings call. I would like to start by saying how pleased

Joe Zubretsky

I am to have the opportunity to lead The Hanover. I have a deep appreciation for the work my predecessor and the entire team have done to build one of the most respected franchises in the independent agency space. The Company has developed a broad and innovative product portfolio, a disciplined underwriting acumen, and a reputation for responsiveness service that has driven improved earnings over time. While certainly successful in the past, the organization also presents significant prospects for margin expansion, growth, and superior shareholder value creation.

I look forward to working with all of you who have invested in our future. This morning, I will provide the highlights of second quarter results. Gene will review our financial performance