Hartford Financial Services ( (HIG) ) has released its Q4 earnings. Here is a breakdown of the information Hartford Financial Services presented to its investors.
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Hartford Financial Services Group, Inc., a prominent player in property and casualty insurance, group benefits, and mutual funds, has released its financial results for the fourth quarter and full year of 2024. The company, known for its long-standing expertise and service excellence, operates under the brand name The Hartford and is headquartered in Hartford, Connecticut.
The Hartford reported a notable increase in net income for both the fourth quarter and the full year of 2024. Fourth-quarter net income rose to $848 million, reflecting an 11% increase compared to the same period in 2023, while full-year net income climbed by 24% to $3.1 billion. This growth was primarily driven by improved underwriting gains, premium growth, and a higher yield from their investment portfolio.
Key financial metrics highlighted in the report include a 7% increase in Property & Casualty written premiums for the fourth quarter, with full-year growth reaching 10%. The Commercial Lines and Personal Lines segments demonstrated robust performance, with the latter’s combined ratio improving significantly by 15.4 points in the fourth quarter. The company also returned $2.1 billion to stockholders in 2024 through dividends and share repurchases.
Looking ahead, The Hartford’s management remains optimistic, with plans to sustain momentum and deliver profitable growth in 2025. The company’s strong financial position and strategic initiatives are expected to support continued success and industry-leading returns on equity.