The Hanover surges 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 4.3 percent to $87.60 by 17:50 GMT.
"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 domestic commercial...