The Hartford reported first quarter 2025 net income available to common stockholders of $625 million, or $2.15 per diluted share, representing a 16% decrease from $748 million, or $2.47 per diluted share, for the same period in 2024.
The company incurred $467 million in current accident year catastrophe losses before tax during the first quarter. This includes $325 million in losses, net of reinsurance, from the January California wildfire event.
Core earnings declined 10% year-over-year to $639 million, or $2.20 per diluted share.
For the trailing 12 months, the company reported a net income return on equity (ROE) of 18.8% and a core earnings ROE of 16.2%.
Comparatively, the company reported net income of $848 million for Q4 2024, an 11% increase from $766 million in the same period of 2023. Core earnings for the quarter were $865 million.
In Q1 2025, The Hartford's property and casualty (P&C) segment posted 9% growth in written premiums in the first quarter. Business insurance premiums rose 10%, while personal insurance premiums increased 8%.
Business insurance also recorded a combined ratio of 94.4 and an underlying combined ratio of 88.4, matching results from the prior-year period. In the personal insurance segment, the combined ratio was 106.1, while the underlying combined ratio improved by 6.4 points year-over-year to 89.7.
Employee benefits reported a net income margin of 7.4% and a core earnings margin of 7.6%, up from 6.1% in the first quarter of 2024.
The Hartford returned $550 million to shareholders during the quarter, consisting of $400 million in share repurchases and $150 million in dividends.
Chairman and CEO Christopher Swift said the company’s core earnings ROE of 16.2% reflects disciplined underwriting and pricing, supported by talent and customer-focused strategies, despite industry-wide catastrophe losses.
Swift said The Hartford remains focused on delivering shareholder returns and is positioned to maintain profitable growth with industry-leading ROEs through 2025 and beyond.
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