The Hartford reported strong fourth quarter and full-year 2025 results, driven by robust performance in Business Insurance and a significant turnaround in Personal Insurance profitability. The company demonstrated effective execution of its strategy, leading to increased net income, core earnings, and return on equity.
Full year 2025 net income available to common stockholders increased 23% to $3.8 billion, with core earnings up 25% to $3.8 billion.
positiveNet income ROE for the year was 22.0%, an increase of 2.1 points, and core earnings ROE was 19.4%, an increase of 2.7 points.
positiveProperty & Casualty written premiums increased by 7% for the full year, driven by Business Insurance premium growth of 8%.
positivePersonal Insurance achieved significant improvement in its underlying combined ratio, contributing to restored target profitability in auto.
positiveReturned $2.2 billion to stockholders in the full year, including $1.6 billion of shares repurchased and $592 million in dividends.
positiveEmployee Benefits expense ratio increased to 27.5% in Q4 2025 from 26.7% in Q4 2024, driven by higher staffing and technology costs.
attentionThe P&C expense ratio increased to 30.7 in Q4 2025 from 29.9 in Q4 2024, driven by an increase in Business Insurance.
attentionMutual Funds and exchange-traded funds (ETF) experienced net outflows of $742 million in Q4 2025, compared to net inflows of $796 million in Q4 2024.
attentionFull year 2025 P&C CAY CAT losses were $748 million, driven by tornado, wind, and hail events, and the California Wildfire Event.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Business Insurance | N/A | — | — | — |
Personal Insurance | N/A | — | — | — |
Employee Benefits | N/A | — | — | — |
Hartford Funds | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
The Hartford delivered an outstanding year, with core earnings of $3.8 billion and a core earnings ROE of 19.4 percent.
Results were driven by excellent performance in Business Insurance, which once again generated robust top-line growth at highly profitable margins, a pivotal year in Personal Insurance that restored target profitability in auto, strong margins in Employee Benefits, and solid performance from our investment portfolio.
Business Insurance once again delivered excellent results in the quarter, with 7 percent top-line growth and an underlying combined ratio of 88.1.
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Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.