Reinsurance News

The Hartford reports $900mn Q2 net income

29th July 2021 - Author: Katie Baker

US property and casualty insurer The Hartford has reported a Q2 2021 net income of $900 million, an increase of 94% from $463 million in Q2 2020.

Use This HartfordIts combined ratio in the second quarter came in at 88.9%, with an underlying combined ratio of 89.4%, a 13.5 point improvement from 102.9%.

The insurer also saw an increase in net investment income at $581 million from $339 million in the same prior year period.

This increase was primarily driven by a change from $71 million of losses on limited partnerships and alternative investments  in Q2 2020 to $191 million of income on LPs in second quarter 2021 due to higher valuations and sales of underlying investments within private equity funds

Meanwhile, commercial lines written premiums of $2.5 billion were 15% higher than second quarter 2020 with increases in all three businesses. The standard commercial new business grew by 46%.


Chairman and CEO Christopher Swift commented: “Our performance was outstanding with all businesses and investment returns contributing to very strong second quarter results that generated a 13.1 percent core earnings ROE.

“As we continue to execute with confidence and precision, our product breadth, underwriting capabilities, and customer experience will differentiate the competitive advantages we bring to the market.

“All the components of our strategy have come together as we deliver on growth, underwriting margin expansion and operating efficiencies to generate industry leading returns and enhance value for all stakeholders”.

The Hartford’s President Doug Elliot said, “Property and Casualty had simply a superb quarter, with robust top line growth, especially new business sales, and excellent underwriting results. New business was terrific across Commercial Lines.

“Continued underwriting discipline combined with consistent pricing and risk selection contributed to a superior underlying combined ratio of 89.2 percent.

“In Personal Lines, the launch of Prevail, our new home and auto product, provides optimism that this cloud based, contemporary design will meaningfully impact written premium levels and margins. We have never been stronger and I’m confident in our future success”.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
Allianz upgrades functions on Claims Hub

Global insurer Allianz has added present position trackers to its Claims Hub, allowing brokers to get live status updates on...