Hartford Earnings: Net Income Rises 23% in Third Quarter

Hartford earnings rose in the third quarter of 2026, with net income available to common stockholders increasing 23% to $1.3 billion from $1.1 billion a year earlier. Core earnings fell 6% to $956 million.

Key Takeaways

• Property and casualty written premiums grew 4%, led by 6% growth in Business Insurance.
• Pre-tax catastrophe losses rose to $198 million from $70 million, primarily because of tornado, wind and hail events.
• The company announced a 12% increase in its common quarterly dividend.

Hartford earnings and investment income

The Hartford reported core earnings of $956 million, down from $1.022 billion in the third quarter of 2025. The decline contrasted with the increase in net income available to common stockholders.

Net favorable prior accident year development was $594 million before tax, including a $497 million net gain from commuting the asbestos and environmental adverse development cover. Core favorable development was $97 million, compared with $95 million a year earlier.

Pre-tax net investment income rose to $850 million from $755 million, primarily reflecting higher income from limited partnerships and other alternative investments, as well as a higher level of invested assets.

Insurance premiums and loss ratios

The property and casualty expense ratio improved to 29.2 from 30.0, primarily because the Business Insurance expense ratio improved by 1.1 points. Business Insurance's loss and loss adjustment expense ratio rose to 61.1 from 57.3, while Personal Insurance's equivalent ratio rose to 67.2 from 62.9.

In Employee Benefits, fully insured ongoing premium grew 4%. The loss ratio rose to 74.9 from 70.1 as both group disability and group life loss ratios increased. The segment's expense ratio improved to 25.4 from 26.7.

Dividend and leadership changes

Chief Financial Officer Beth Costello announced a 12% increase in the common quarterly dividend. She said Personal Insurance growth was affected by a competitive market.

Chairman and CEO Christopher Swift said Mo Tooker will succeed him as CEO on March 1. Swift plans to become executive chair at that time and step down from that role in the second half of 2027.

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