The Hartford reported a notable improvement in fourth-quarter profitability, with core earnings rising 33% year over year to $1.15 billion, or $4.06 per share, for the three months ended December 31. That compared with core earnings of $865 million, or $2.94 per share, in the same quarter a year earlier.
Underwriting performance was a key driver of the quarterly gain. Property and casualty written premiums at the Hartford increased 5% year over year in the quarter, supported primarily by growth in its business insurance line. Business insurance written premiums totaled $3.38 billion in the quarter, up 7% from the prior-year period. That business insurance segment represents more than half of the company s revenue.
The company s combined ratio for the business insurance segment improved to 83.6% in the quarter, down from 87.4% in the comparable period a year earlier. A combined ratio below 100% indicates the insurer collected more in premiums than it paid out in claims, underscoring the contribution of underwriting results to the profit increase.
Investment income also contributed to the quarterly performance. Consolidated net investment income rose 17% to $832 million in the quarter, driven by higher income from limited partnerships, a larger base of invested assets and reinvesting at higher interest rates.
Market reaction to the results was modest in extended trading, with shares of the Hartford-based insurer up roughly 1% after the announcement. Over the course of 2025, Hartford s stock has rallied about 26%, outpacing the S&P 500 index.
Insurance demand remained resilient in 2025 as both individuals and businesses sought protection against risks such as natural disasters, reflecting continued market appetite for coverage. The Hartford s corporate history dates back to 1810 when it began as a fire insurance company and has since grown into one of the largest property and casualty insurers in the United States.
Financial highlights (quarter ended December 31)
- Core earnings: $1.15 billion, or $4.06 per share (versus $865 million, or $2.94 per share a year earlier)
- Property & casualty written premiums: up 5% year over year
- Business insurance written premiums: $3.38 billion, up 7% year over year
- Business insurance combined ratio: 83.6% (versus 87.4% in the prior-year quarter)
- Consolidated net investment income: $832 million, up 17% year over year
The quarter's results reflect a combination of underwriting improvement in the core commercial lines and stronger investment returns tied to limited partnership income and higher reinvestment yields. The concentration of revenue in business insurance and the sensitivity of investment income to asset levels and yields are prominent features of the company's recent performance.
Note: This article reports the company-provided figures and market moves referenced for the quarter ended December 31. It does not introduce new data or analysis beyond those disclosures.