Worcester's Hanover Insurance Just Misses Fortune 500; Top 1,000

Patch reporter Mike Carraggi contributed to this report.WORCESTER, MA — Worcester's Hanover Insurance Group just missed the cut for Fortune 500's list of top businesses in the country. Hanover still made it onto the top 1,000 list. It was one of 34 Massachusetts based companies that made it on the list of top 1,000.

Hanover Insurance Group ranked 516, dropping down a few pegs from last year's rank of 514. The company's revenues are listed at $5,406 million with a profit of $391 million. Hanover employs 4,200 people.

Fortune Magazine released its annual list of the 500 top companies in America, which represent two-thirds of the U.S. GDP and have a total of $13.7 trillion in revenue, the magazine says. Of those 500 companies, 16 are based in Massachusetts.

Fortune said it ranks companies by total revenue. Overall, Walmart topped the 2019 list, followed by Exxon Mobil and Apple. Berkshire Hathaway and Amazon ranked No. 4 and No. 5, rounding out the top five spots on the list.
To put the list in context, Fortune writes that just a tenth of the companies on the list are responsible for nearly half of the total $13.7 trillion in revenue. (You can read more in detail about the list via Fortune here.)

Patch reporter Mike Carraggi contributed to this report.