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Mar 31, 2023
The Hartford Q1 2023 Earnings Report
The Hartford's financial performance was solid in Q1 2023, marked by growth in P&C written premiums and Group Benefits premiums, offset by higher catastrophe losses.
Key Takeaways
The Hartford reported a net income of $530 million for Q1 2023, a 21% increase compared to Q1 2022. Core earnings were $536 million. The company experienced growth in Property & Casualty (P&C) written premiums and Group Benefits fully insured ongoing premiums. The results were impacted by higher catastrophe losses in the P&C segment.
Net income available to common stockholders increased 21% to $530 million ($1.66 per diluted share).
P&C written premiums rose 10%, driven by Commercial Lines premium growth of 11%.
Group Benefits fully insured ongoing premium growth of 8%.
Returned $484 million to stockholders through share repurchases and dividends.
Revenue by Segment
Forward Guidance
The Hartford anticipates continued growth and margin expansion and is confident in achieving its ROE target of 14 to 15 percent.
Positive Outlook
- Continued growth
- Margin expansion
- ROE target of 14 to 15 percent
- Delivering Sustained strong results in Commercial Lines
- Renewal written pricing in Standard Commercial Lines, excluding workers’ compensation, rose to 8.1 percent, above loss cost trends.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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