The Hartford has reported full-year 2025 results, posting net income available to common stockholders of $3.8 billion, up from $3.1 billion in 2024, driven primarily by a stronger property and casualty (P&C) underwriting performance.
The insurer said improvements in P&C underwriting were supported by earned premium growth across all business lines, increased net favourable prior accident year development (PYD), an improved underlying loss and loss adjustment expense (LAE) ratio in Personal Insurance, and higher net investment income.
Personal Insurance Performance
In the Personal Insurance segment, the loss and LAE ratio improved to 65.9 in 2025, compared with 73.1 in 2024. This reflected 1.7 points of more favourable PYD, partially offset by 0.6 points of higher catastrophe losses.
The underlying loss and LAE ratio declined to 61.9 from 68.1, driven by lower loss ratios in both automobile and homeowners insurance.
Business Insurance Trends
In Business Insurance, the loss and LAE ratio improved to 56.8 in 2025, down from 58.5 in 2024, benefiting from lower catastrophe losses of 0.8 points and more favourable PYD of 1.4 points.
However, the underlying loss and LAE ratio edged up slightly to 57.0 from 56.5, largely due to higher loss ratios in workers’ compensation and general liability, partially offset by favourable non-catastrophe property losses.
Investment Income Growth
The Hartford’s net investment income before tax reached $2.9 billion in 2025, up from $2.6 billion in 2024. The increase was driven by higher invested assets, stronger income from limited partnerships and alternative investments, and reinvestment at higher interest rates, partially offset by lower yields on variable-rate securities.
Fourth Quarter Performance
For the fourth quarter of 2025, net income available to common stockholders was $1.1 billion, compared with $848 million in Q4 2024. The improvement was driven by higher net investment income, favourable PYD, lower catastrophe losses, earned premium growth across P&C, and improved underlying profitability in Personal Insurance.
Strategic Outlook
The Hartford’s Chairman and CEO, Christopher Swift, commented,
“The Hartford delivered an outstanding year, with core earnings of $3.8 billion and a core earnings ROE of 19.4%.
“Results were driven by excellent performance in Business Insurance, which once again generated robust top-line growth at highly profitable margins, a pivotal year in Personal Insurance that restored target profitability in auto, strong margins in Employee Benefits, and solid performance from our investment portfolio.
“These outstanding fourth quarter and full-year results demonstrate the effectiveness of our strategy and the impact of innovation across the enterprise.
“We enter 2026 with momentum. Disciplined underwriting, extensive and trusted distribution relationships, and an unparalleled customer experience position The Hartford to continue delivering superior returns for shareholders.”
