Hartford Financial reports Q4 EPS $2.51, consensus $2.44

Reports Q4 revenue $6.40B, consensus $6.36B. Reports Q4: Property & Casualty written premiums rose 10% in fourth quarter and full year 2023, driven by Commercial Lines and Personal Lines premium growth of 9% and 12% in the quarter, respectively, and 10% and 8% in the full year, respectively. Group Benefits fully insured ongoing premium growth of 6% in fourth quarter and 7% in the full year. Commercial Lines fourth quarter combined ratio of 84.7 and underlying combined ratio* of 86.6. Full year 2023 combined ratio of 89.6 and underlying combined ratio of 87.8. CFO Beth Costello said, “Commercial Lines had a superb quarter with an underlying combined ratio of 86.6. Personal Lines achieved sustained double-digit written pricing increases with acceleration in auto to 21.9 percent in the quarter, responding to the dynamic loss cost environment. Group Benefits continues to deliver excellent results driven by 6 percent growth in fully insured ongoing premiums and a core earnings margin of 9.8 percent. Our investment performance remains strong benefiting from attractive new money yields and a diversified portfolio of assets. We are actively managing our capital and returned $479 million through repurchases and dividends in the quarter contributing to total capital return of $6.2 billion to shareholders over the last three years.”