Hanover Insurance Group Inc. said its second-quarter net income fell 29.3% from a year earlier.
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The Worcester, Mass., company said net income fell to $50.9 million, or 99 cents a share. Last year's second-quarter net income included a federal income tax benefit of $12.9 million, or 23 cents a share, primarily related to Hanover's discontinued variable life insurance and annuity business.
Income from continuing operations fell 5.95%, to $53.7 million. Hanover announced its results Monday.
