Core Earnings
$1.1 billionrecord for the company
Q3 FY25
The Hartford delivered outstanding third quarter results with core earnings of $1.1 billion or $3.78 per diluted share, both records for the company.
Diluted EPS
$3.78record for the company
Q3 FY25
The Hartford delivered outstanding third quarter results with core earnings of $1.1 billion or $3.78 per diluted share, both records for the company.
Trailing 12-month Core Earnings ROE
18.4%
TTM
All these items contributed to an outstanding trailing 12-month core earnings ROE of 18.4%.
Business Insurance Renewal Written Pricing (ex-Workers' Comp)
7.3%above overall loss trend
Q3 FY25
Business Insurance renewal written pricing, excluding workers' compensation, was 7.3%, above overall loss trend.
Business Insurance Renewal Written Pricing (General Liability)
high single digitsremained firm and above loss trend
Q3 FY25
General liability remained firm and above loss trend, supported by rate increases and proactive underwriting actions focused on segmentation, limits management and geographic optimization.
Business Insurance Renewal Written Pricing (Excess and Umbrella)
double-digitdouble-digit pricing increases
Q3 FY25
Excess and umbrella lines delivered double-digit pricing increases and primary lines moderated slightly while still in the high single digits.
Business Insurance Renewal Written Pricing (Auto)
near 11%remained near 11%
Q3 FY25
Despite modest easing this quarter, auto pricing remained near 11%, while workers' compensation pricing was slightly up from the second quarter.
Business Insurance Renewal Written Pricing (Workers' Compensation)
slightly upfrom the second quarter
Q3 FY25
Despite modest easing this quarter, auto pricing remained near 11%, while workers' compensation pricing was slightly up from the second quarter.
Business Insurance Property Written Premium Growth
50%
past 3 years
Over the past 3 years through the team's thoughtful and disciplined strategy, including CAT management, the Business Insurance property book grew 50%.
Small Business Property Pricing (Package Product)
12%strong
Q3 FY25
In Small business, property pricing within the package product remained strong, achieving 12% renewal written price increases.
Other Property Lines Renewal Pricing (E&S and Large)
1.2%up nearly 2 points from the second quarter
Q3 FY25
Other property lines, primarily E&S and Large representing approximately 20% of the property book, achieved renewal pricing increases of 1.2%, up nearly 2 points from the second quarter.
Personal Insurance Agency Policies in Force Growth
17%over prior year
Q3 FY25
We are pleased with growth in agency, where policies in force grew 17% over prior year, including 4% in auto.
Personal Insurance Agency Auto Policies in Force Growth
4%over prior year
Q3 FY25
We are pleased with growth in agency, where policies in force grew 17% over prior year, including 4% in auto.
P&C Current Accident Year Catastrophe Losses (pre-tax)
$70 million
Q3 FY25
With respect to catastrophes, P&C current accident year losses were $70 million before tax for 1.6 combined ratio points, which included $37 million of favorable prior quarter development.
Aggregate Property Catastrophe Treaty Attachment Point
$750 million
through September 30
Through September 30, we have reached the $750 million attachment point for our aggregate property catastrophe treaty, which means that CAT losses of up to $200 million in the fourth quarter would be covered by the treaty.
Aggregate Property Catastrophe Treaty Coverage
up to $200 million
Q4 FY25
Through September 30, we have reached the $750 million attachment point for our aggregate property catastrophe treaty, which means that CAT losses of up to $200 million in the fourth quarter would be covered by the treaty.
P&C Net Favorable Prior Accident Year Development (pre-tax)
$95 millionnet favorable
Q3 FY25
Total P&C net favorable prior accident year development within core earnings was $95 million before tax, primarily due to reserve reductions in workers' compensation and personal auto liability and physical damage.
Deferred Gain Amortization (Navigators ADC)
$8 million
Q3 FY25
We recorded $8 million of deferred gain amortization related to the Navigators ADC, which has now been fully amortized.
Group Life Loss Ratio
74.2%improved 3.3 points
Q3 FY25
The group life loss ratio of 74.2%, improved 3.3 points, reflecting lower mortality across both term and accidental life products.
Group Disability Loss Ratio
70.6%increased 2.7 points from the prior year
Q3 FY25
The group disability loss ratio of 70.6% increased 2.7 points from the prior year.
Net Investment Income
$759 millionincreased $100 million from third quarter 2024
Q3 FY25
Net investment income of $759 million increased $100 million from third quarter 2024 due to income from limited partnerships and other alternative investments, a higher level of invested assets and reinvesting at higher interest rates, partially offset by a lower yield on variable rate securities.
Total Annualized Portfolio Yield (ex-LPs)
4.6%consistent with the second quarter
Q3 FY25
The total annualized portfolio yield, excluding limited partnerships, was 4.6% before tax, consistent with the second quarter.
Reinvestment Spread
50 basis pointsabove the sales and maturity yield
Q3 FY25
In the quarter, we reinvested at 50 basis points above the sales and maturity yield, reflecting increased call and paydown activity on higher-yielding corporate bonds and certain structured securities.
Annualized LP Returns (pre-tax)
6.7%higher than the first half of the year
Q3 FY25
As expected, our third quarter annualized LP returns of 6.7% before tax were higher than the first half of the year, reflecting increased returns from our private equity portfolio.
Holding Company Resources
$1.3 billion
quarter end
Holding company resources totaled $1.3 billion at quarter end.
Shares Repurchased
3.1 million
Q3 FY25
During the quarter, we repurchased 3.1 million shares under our share repurchase program for $400 million, and we expect to remain at that level of repurchases in the fourth quarter.
Share Repurchase Program Amount
$400 million
Q3 FY25
During the quarter, we repurchased 3.1 million shares under our share repurchase program for $400 million, and we expect to remain at that level of repurchases in the fourth quarter.
Remaining Share Repurchase Authorization
$1.95 billion
as of September 30
As of September 30, we had $1.95 billion remaining on our share repurchase authorization through December 31, 2026.
IT Budget (Total)
$1.3 billion
annual
we run basically $1.3 billion all-in IT run in an invest budget.
IT Budget (Invest)
over $500 million
annual
And I would say a little over $500 million is sort of the invest side of that.
Cloud Migration Journey
6-year journeyin our fourth year
null
We're still taking all our data and applications to the cloud, which we're in our fourth year of a 6-year journey to get that done.
Small Commercial Spectrum Product Growth
13%
Q3 FY25
our Spectrum product in Small Commercial, it was up 13% in the quarter.
Global Re Growth
14%
Q3 FY25
Global Re was up 14%.
Business Insurance Auto Growth
10%
Q3 FY25
Business Insurance, auto, was up 10%.
National Account Business Growth
17%
Q3 FY25
national account business, which was up 17% in the quarter
Excess Liability Line Growth
20%
Q3 FY25
I would even say our excess liability line was up 20%.
Workers' Comp Growth
3%year-over-year
Q3 FY25
And workers' comp, I think, grew 3% year-over-year.
Small Business Market Share
less than 5%
today
our market share today, Mike, is less than 5% in the Small business space.
Leave Product Book Size
a little over $500 million
today
And that book is a little over $500 million for us today, Mike Fish.
Business Insurance 9-month YTD Underlying Combined Ratio
88.6%versus 88.1%
9-month YTD
let's look at the 9-month year-over-year underlying combined ratio. Currently, it's running 88.6% versus 88.1%.
Business Insurance Pricing Exposure Component
1.8%consistent
Q3 FY25
The quarter, I would call it at 1.8%, and it's been sort of consistent of 75% rate and 25% exposure as we break that down.