Reports Q1 revenue $6.419B, consensus $6.51B. Property & Casualty written premiums rose 9% in first quarter 2024, driven by Commercial Lines and Personal Lines premium growth of 8% and 13%, respectively. Group Benefits fully insured ongoing premium growth of 2% in first quarter 2024. Commercial Lines first quarter combined ratio of 90.1 and underlying combined ratio of 88.4. Group Benefits first quarter net income margin of 6.2% and core earnings margin of 6.1%. “The Hartford’s first quarter 2024 financial results were excellent with a trailing 12-month core earnings ROE of 16.6 percent,” said The Hartford’s Chairman and CEO Christopher Swift. “Commercial Lines continues to generate strong top-line growth at highly profitable margins. Personal Lines results demonstrate progress towards restoring target profitability in auto and Group Benefits margins remained solid.”
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