The Hanover soars as analysts applaud reserve charge

The Hanover's shares surged today after the company reported
$174mn of unfavourable development on its reserves, erasing
fourth-quarter profit, with analysts praising the move as a way to
prepare for future earnings unencumbered by further
adjustments.
The stock climbed over 7.2 percent to close at $90.10 in New
York.
"A sizable amount of the charge is likely the result of
management moving to a more conservative point within the range as
it looks to put to bed the trend of...