The Hartford, a US insurance and financial services provider, has reported a net income available to common stockholders of $1.3 billion for the third quarter of 2026, a 23% increase from $1.1 billion in the same period a year earlier.
During the quarter, Property & Casualty (P&C) written premiums increased by 4%, driven by Business Insurance premium growth of 6%.
The P&C expense ratio improved to 29.2 from 30.0, primarily driven by a 1.1-point improvement in the Business Insurance expense ratio.
P&C current accident year catastrophe losses (CAY CATs) stood at $198 million, before tax, up from losses of $70 million, primarily due to tornado, wind and hail events.
Employee Benefits fully insured ongoing premium grew by 4% in Q3 2026. Its loss ratio increased to 74.9 from 70.1, driven by increases in both the group disability and group life loss ratios. Meanwhile, the Employee Benefits expense ratio improved to 25.4 from 26.7.
The Business Insurance loss and loss adjustment expense ratio stood at 61.1, up from 57.3, including 1.7 points of higher CAY CATs and 0.1 points of less favourable prior accident year development (PYD). The underlying loss and loss adjustment expense ratio was 59.9, up from 57.9 a year earlier.
Business Insurance recorded a Q3 2026 combined ratio of 91.3 and an underlying combined ratio of 90.1.
The Personal Insurance loss and loss adjustment expense ratio was 67.2, up from 62.9, including 6.8 points of higher CAY CATs and 0.6 points of less favourable PYD. The underlying loss and loss adjustment expense ratio was 61.1, up 3.1 points.
The Personal Insurance combined ratio was 93.2, with an underlying combined ratio of 87.1.
Net favourable PYD was $594 million before tax, including a net gain of $497 million from the impact of commuting the asbestos and environmental adverse development cover (A&E ADC). Net core favourable PYD of $97 million was relatively flat compared with $95 million in the third quarter of 2025.
Core earnings amounted to $956 million, a 6% decrease from $1,022 million in Q3 2025.
Net investment income rose to $850 million before tax, from $755 million, primarily driven by increased income from limited partnerships and other alternative investments (LPs) and a higher level of invested assets.
“The Hartford delivered another quarter of strong results in an increasingly competitive market,” said Christopher Swift, Chairman and CEO of The Hartford. “We continue to strengthen our leading position through disciplined execution and investments in technology, data, artificial intelligence and customer-focused risk insights, building on our differentiated capabilities across Property and Casualty and Employee Benefits.”
Beth Costello, Chief Financial Officer at The Hartford, added, “Business Insurance delivered a solid quarter, with 6 percent written premium growth and an underlying combined ratio of 90.1. In Personal Insurance, the underlying combined ratio improved 2.9 points, while growth was impacted by a competitive market. Employee Benefits generated fully insured ongoing premium growth of 4 percent with a core earnings margin of 6.4 percent. Investment income was excellent, supported by higher income from limited partnerships and other alternative investments and a higher level of invested assets. Building on our consistent track record of annual dividend increases, we are pleased to announce a 12 percent increase in the common quarterly dividend.”
Swift continued, “It has been an honor to serve this iconic company, first as CFO and then as CEO for nearly 13 years. As we announced last month, Mo Tooker will succeed me as CEO on March 1, at which time I will transition to Executive Chair, with plans to step down from that role in the second half of 2027. Mo is ideally suited to lead as CEO and guide The Hartford’s next chapter. With our strategy, priorities and commitment to disciplined execution unchanged, The Hartford remains well positioned to continue delivering outstanding ROEs and attractive returns for shareholders.”
