
What smart money is saying about The Hanover Insurance Group, Inc.
2 funds in our archive have pitched The Hanover Insurance Group, Inc., most recently Heartland Value Plus Fund in September 2026.
The Hanover Insurance Group, Inc. (THG) is a U.S.-based insurer offering a wide array of property and casualty coverage through its various operating units. Its operations are organized into three main divisions: Commercial Lines, Personal Lines, and an "Other" segment. The Commercial Lines division delivers a comprehensive suite of business insurance solutions, including multi-peril, commercial auto, and workers' compensation policies. It also provides management and professional liability, marine, specialized industrial and commercial property, standalone general liability, surety bonds, umbrella liability, fidelity, crime, and additional commercial protection. Within Personal Lines, customers can access auto and homeowners' insurance, alongside other individual coverages like personal umbrella policies, inland marine, fire, personal watercraft, and personal cyber protection. The "Other" segment focuses on delivering investment management expertise to institutions, pension funds, and a range of other organizational clients. Distribution of Hanover's offerings is primarily facilitated by a network of independent agents and brokers. Originally incorporated as Allmerica Financial Corp., the company adopted its current name, The Hanover Insurance Group, Inc., in December 2005. Established in 1852, The Hanover Insurance Group, Inc. maintains its corporate headquarters in Worcester, Massachusetts.
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Position history
Between Q2 2025 and Q3 2026, 3 fund letters reported a position in The Hanover Insurance Group, Inc., with 1 buy (opened or added).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 2 | 0 | 0 | 1 |
| Q2 2025 | 1 | 1 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 3 positions · 1 move
- September 2026
“Another company buying back stock and boosting payouts—two of the three metrics we look for in capital allocation, along with insider buying—is Hanover (THG) .”
The Hanover Insurance Group, Inc. - September 2026
“Another company buying back stock and boosting payouts—two of the three metrics we look for in capital allocation, along with insider buying—is Hanover (THG) .”
The Hanover Insurance Group, Inc. - New positionMadison Small Cap FundJune 2025
“Buys: The Hanover Insurance Group (THG) The Hanover Insurance Group, a regionally focused property & casualty (P&C) insurance company, is relatively underfollowed and we believe misunderstood.”
The Hanover Insurance Group, Inc.
Fund coverage · 2 theses
- Heartland Value Plus FundSeptember 2026
The Hanover Insurance Group serves small- to medium-sized businesses and is highlighted for disciplined capital allocation, steady premium and volume growth, and an attractive valuation.
Read the full thesis - Madison Small Cap FundJune 2025
The Hanover Insurance Group is a high-quality, underfollowed P&C insurance company with a diversified business mix and an assessed intrinsic value of $210.
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