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The Hanover Appoints Richard W. Lavey Chief Operating Officer

1. Richard W. Lavey appointed as COO of Hanover Insurance Group. 2. Lavey will enhance integration between business and technology. 3. He brings over 35 years of industry experience to the role. 4. Focus on delivering sustainable profitable growth emphasized. 5. Lavey maintains leadership over personal lines and commercial businesses.

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Why Bullish?

The appointment of a seasoned executive signals potential strategic enhancements, akin to previous successful leadership transitions in insurance firms that have positively influenced stock performance.

How important is it?

The leadership change in a significant role suggests a strategic shift that may improve operations and profitability, directly influencing THG’s market performance.

Why Long Term?

Strategic transformations often take time to materialize, pointing towards gradual improvements in financial metrics and investor confidence over months to years.

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, /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG) today announced it has appointed Richard W. Lavey to the newly created role of chief operating officer. In this position, Lavey will play an expanded and leading role in the further development of our business strategy and drive even greater integration and collaboration between our business and technology organizations, enhancing our agent and customer value propositions and advancing our goal to deliver strong, sustainable profitable growth going forward. Richard W. Lavey Lavey will maintain his current responsibilities leading personal lines and core commercial, which includes the company's small and middle market businesses. He will also continue to lead the company's sales and distribution, corporate underwriting, marketing and risk solutions functions. With more than 35 years of experience in the insurance and technology industries, Lavey brings a deep knowledge of The Hanover's business and distribution model as well as expertise in advancing strategy, leading business transformations, and galvanizing culture. Prior to joining The Hanover in 2004, Lavey was vice president of strategic initiatives for The Hartford's property and casualty organization and vice president of strategic marketing for The Hartford's Select Customer division. Prior to that, he worked at two software companies, ChannelPoint and Bowstreet, and was a strategy consultant for CSC Healthcare. He began his career at The Travelers Insurance Company. "We are very pleased to have Dick assume this key role in our organization and to have his leadership over our company's strategic operations," said John C. Roche, president and chief executive officer at The Hanover. "In our rapidly changing and dynamic business, we are intently focused on the development of strategic operating models that deliver value for all our stakeholders and our company. Dick is a proven leader who has successfully guided our businesses through transformative times over the course of his 21 years with our company."Lavey is a Phi Beta Kappa graduate of The College of the Holy Cross and earned his Master of Business Administration degree from Harvard Business School. He currently serves as Chair of the National Council on Compensation Insurance (NCCI).For more information about The Hanover, please visit hanover.com.About The HanoverThe Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agent partners, The Hanover offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. For more information, please visit hanover.com.CONTACTS:SOURCE The Hanover Insurance Group, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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