Hanover Insurance (THG) Operating Margin (2009 - 2026)
Hanover Insurance (THG) reported Operating Margin of 8.08% for Q1 2026, up 146.0% on a YoY basis from 3.28% in Q1 2025, and up 7.37% quarter-over-quarter from 7.52% in Q4 2025.
Hanover Insurance (THG) Operating Margin (2009 - 2026) Analysis & Trends
Hanover Insurance has reported Operating Margin for 18 years, with the latest figure at 8.08% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin rose 146.0% year-over-year to 8.08%; the trailing twelve-month figure through Mar 2026 stood at 7.5% (up 527.0% YoY), and the FY2025 full-year result was 6.89%, up 498.0% from the prior year.
- Operating Margin for Q1 2026 stood at 8.08%, up from 7.52% in the prior quarter.
- The five-year high for Operating Margin was 8.08% in Q1 2026, with the low at 12.62% in Q4 2024.
- Historically, Operating Margin has averaged 4.15% across 5 years, with a median of 6.14% in 2024.
- Annual changes were most pronounced in 2024 — Operating Margin tumbled 1796 bps — and 2025, when it jumped 2015 bps.
- Hanover Insurance's Operating Margin stood at 12.03% in 2022, then surged by 144 bps to 5.34% in 2023, then slumped by 337 bps to 12.62% in 2024, then jumped by 160 bps to 7.52% in 2025, then advanced by 7 bps to 8.08% in 2026.
- The last three Operating Margin figures came in at 8.08% (Q1 2026), 7.52% (Q4 2025), and 7.54% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Chubb | 127.40 Bn | 119.98 Bn | 8.64 Bn | 11.57% |
| 2 | Progressive | 119.47 Bn | 115.12 Bn | 8.36 Bn | -46.25% |
| 3 | Travelers Companies | 65.26 Bn | 41.34 Bn | 5.54 Bn | 8.45% |
| 4 | Allstate | 57.33 Bn | 32.74 Bn | 14.72 Bn | 5.54% |
| 5 | Berkley W R | 26.90 Bn | 23.16 Bn | 2.72 Bn | 10.96% |
| 6 | Cincinnati Financial | 25.67 Bn | 24.41 Bn | 2.60 Bn | 12.21% |
| 7 | Markel | 22.97 Bn | 7.51 Bn | 2.38 Bn | -7.70% |
| 8 | Loews | 22.18 Bn | 9.92 Bn | -1.32 Bn | 71.45% |
| 9 | Assurant | 12.79 Bn | 10.87 Bn | 2.01 Bn | 5.74% |
| 10 | Hanover Insurance | 6.80 Bn | 6.37 Bn | 613.00 Mn | 8.08% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 8.08% |
| Dec 31, 2025 | 7.52% |
| Sep 30, 2025 | 7.54% |
| Jun 30, 2025 | 6.83% |
| Mar 31, 2025 | 6.62% |
| Dec 31, 2024 | -12.62% |
| Sep 30, 2024 | 6.21% |
| Jun 30, 2024 | 6.14% |
| Mar 31, 2024 | 6.19% |
| Dec 31, 2023 | 5.34% |
| Sep 30, 2023 | 5.88% |
| Jun 30, 2023 | 6.21% |
| Mar 31, 2023 | 5.70% |
| Dec 31, 2022 | -12.03% |
| Sep 30, 2022 | 5.34% |
| Jun 30, 2022 | 5.45% |
| Mar 31, 2022 | 6.08% |
| Dec 31, 2021 | -7.16% |
| Sep 30, 2021 | 6.18% |
| Jun 30, 2021 | 6.41% |