Hanover Insurance a safe bet in hard times-Barron's

NEW YORK, June 14 (Reuters) - Amid the toughest of times for the insurance industry, Hanover Insurance Group (THG.N: Quote, Profile, Research) could be a safe bet for investors with its shares poised to surge more than 30 percent, according to a report in the latest edition of Barron's.

Hanover, a relatively small property and casualty company, has a solid balance sheet, best-in-class premium growth and low valuation, Barron's said, calling it "one of the best bets on the eventual rebound in insurance."

An analyst for Stifel Nicolas forecast 2009 Hanover earnings of $3.60 per share this year, climbing to $4.50 per share in 2010, the newspaper said.

Hanover shares closed at $36.42 on the New York Stock Exchange on Friday.

"Hanover clearly has lots of room to boost its market share in the next two years, which would help lift its stock close to 50," the report said. (Reporting by Bill Berkrot, editing by Martin Golan)