• Hanover Insurance average return on tangible equity for 2023 was -1.66, a 115.1% decline from 2022.
• Hanover Insurance average return on tangible equity for 2022 was 10.99, a 29.73% decline from 2021.
• Hanover Insurance average return on tangible equity for 2021 was 15.64, a 42.18% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.