• Hanover Insurance average operating margin for 2023 was -0.91%, a 113.32% decline from 2022.
• Hanover Insurance average operating margin for 2022 was 6.83%, a 39.07% decline from 2021.
• Hanover Insurance average operating margin for 2021 was 11.21%, a 42.8% decline from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.