The Hartford Insurance Group reported strong second-quarter 2026 results, led by continued growth in its Business Insurance segment, improved Personal Insurance underwriting performance, and solid Employee Benefits results, while announcing a new $4.2 billion share repurchase authorization.
Net income available to common stockholders increased 31% to $1.3 billion, or $4.68 per diluted share, from $990 million, or $3.44 per diluted share, in the second quarter of 2025. Core earnings rose 1% to $945 million, or $3.42 per diluted share, while the company’s trailing 12-month core return on equity reached 18.7%.
“The Hartford delivered another quarter of strong results, reflecting the strength of our franchise, the breadth of our distribution relationships and our commitment to a superior customer experience,” Chairman and CEO Christopher Swift said in announcing the results.
Business Insurance continues to lead growth
Business Insurance remained the company’s largest earnings contributor, generating $695 million in core earnings on 5% written premium growth. The segment posted an underlying combined ratio of 89.3, compared with 88.0 a year earlier.
Growth was broad-based across the business. Small Business written premiums increased 7%, while Middle & Large Business and Global Specialty each reported single-digit premium growth.
During the earnings call, Swift said the company continued to outperform the market in Small Business while maintaining underwriting discipline across its commercial portfolio.
“Our investments in automation and digital service, which have driven speed, ease and accuracy of quoting also position us well as wholesale and retail brokers seek to consolidate business with a smaller number of underwriting partners,” Swift said.
Management also highlighted the company’s continued investment in AI-enabled underwriting tools designed to accelerate risk analysis while allowing underwriters to spend more time working with agency and broker partners. Company executives said underwriters retain underwriting authority while using AI-generated insights to improve efficiency and consistency.
Commercial pricing remained firm
The Hartford reported Business Insurance renewal written pricing, excluding workers’ compensation, remained relatively stable at 5.8% during the quarter. Management said commercial auto and general liability pricing continued to exceed loss trends, while umbrella and excess casualty achieved some of the strongest rate increases across the portfolio. Property pricing moderated, particularly in large property accounts, although aggregate pricing in small business package and middle-market general industries remained in the mid-single digits.
Personal Insurance margins improve despite lower premium volume
Personal Insurance produced one of the quarter’s strongest underwriting improvements even as written premiums declined.
The segment reported core earnings of $128 million, up from $94 million a year earlier, while the underlying combined ratio improved 1.7 points to 86.3. Written premiums declined 7% to $915 million as competitive market conditions continued to pressure new business growth.
The company reported renewal written pricing increases of 5.5% in personal auto and 10.4% in homeowners. Effective policy retention improved slightly in auto and remained relatively stable in homeowners.
During the earnings call, management said the company’s contemporary personal lines product is now available in 23 states through the agency channel while investments continue in pricing, customer experience and products targeting the mature market.
Reserve changes reflect casualty loss trends
The company reported favorable prior-year reserve development overall, driven by reserve reductions in workers’ compensation, catastrophe, bond and Personal Insurance business.
Those favorable developments were partially offset by increases in general liability and commercial auto liability reserves. According to Chief Financial Officer Beth Costello, general liability reserves were strengthened primarily to reflect a higher frequency of large losses in excess casualty and umbrella business across multiple accident years. Commercial auto liability reserves increased primarily because of higher-than-expected claim severity in accident years 2023 and 2024, which management said reflected increasing attorney representation and time-limit demands.
Employee Benefits posts steady premium growth
Employee Benefits reported 5% growth in fully insured ongoing premiums while generating a 7.4% core earnings margin. Core earnings declined to $139 million from $163 million in the prior-year quarter, primarily because of a higher group disability loss ratio, partially offset by improved investment income and expense performance.
Management said demand remains strong for products supporting workforce productivity and absence management, while pricing and underwriting discipline continue across the business.
Board approves new $4.2 billion share repurchase authorization
The Hartford also announced its board approved a new $4.2 billion share repurchase authorization effective through December 2028. The authorization is in addition to approximately $650 million remaining under the existing program as of June 30.
The company repurchased $450 million of common stock during the second quarter and said it expects to increase quarterly repurchases to $475 million for the remainder of 2026. Management said the expanded authorization reflects the company’s strong capital generation and expected proceeds from the previously announced sale of Hartford Funds to Wellington Management.
Bottom line for agents
For independent agents, The Hartford’s results point to continued emphasis on profitable commercial growth, particularly in Small Business, supported by investments in digital capabilities and underwriting technology. In Personal Insurance, the company reported improved underwriting results despite lower written premiums, while maintaining renewal pricing increases and relatively stable policy retention. The quarter also highlighted management’s continued focus on disciplined underwriting, capital management and technology investments across its property and casualty operations.
