The Hartford Financial Services Group Inc

Latest Results (17.12.2024):

Net Income Growth

The Hartford Financial Services Group Inc reported a net income available to common stockholders of $761 million for the third quarter of 2024, which represents an 18% increase from $645 million in the same period of 2023. This growth was primarily driven by double-digit earned premium growth in both Commercial and Personal Lines, as well as higher net investment income.

Core Earnings Increase

For the third quarter of 2024, The Hartford's core earnings reached $752 million, or $2.53 per diluted share, marking a 6% increase from $708 million in the third quarter of 2023. This improvement was supported by an 11% growth in Property & Casualty earned premium and higher yields on the fixed income portfolio.

Dividend and Shareholder Returns

The Hartford Financial Services Group Inc increased its quarterly common dividend per share by 11%, to $0.52, payable on January 3, 2025. Additionally, the company returned $538 million to stockholders in the third quarter of 2024, which included $400 million of shares repurchased and $138 million in common stockholder dividends paid.

Property & Casualty Performance

In the third quarter of 2024, The Hartford's Property & Casualty written premiums rose by 10%, driven by a 9% growth in Commercial Lines and a 12% increase in Personal Lines. The Commercial Lines combined ratio was 92.2, with an underlying combined ratio of 88.6, reflecting strong top-line growth and profitable margins.

Investment Income and Catastrophe Losses

The Hartford reported net investment income of $659 million before tax in the third quarter of 2024, up from $597 million in the same period of 2023. However, the company faced Property & Casualty current accident year catastrophe losses of $247 million before tax, primarily due to Hurricane Helene, compared to $184 million in the third quarter of 2023.