February 22, 2024

The Hartford reports 2023 financials




The Hartford reports 2023 financials | Insurance Business America















Chair and CEO cites “simply outstanding” results

The Hartford reports 2023 financials


Insurance News

By
Terry Gangcuangco



The Harford has released its financial results for the fourth quarter and whole of 2023.

Here are the numbers for the Connecticut-based insurance company:









Metric

Q4 2023

Q4 2022

FY 2023

FY 2022

Net income available to common stockholders

$766 million

$587 million

$2.5 billion

$1.8 billion

Commercial lines net income

$687 million

$566 million

$2.1 billion

$1.6 billion

Personal lines net income / (loss)

$34 million

$44 million

$(39 million)

$91 million

Group benefits net income

$176 million

$143 million

$535 million

$327 million

Hartford funds net income

$47 million

$45 million

$174 million

$162 million

 

The Hartford chairman and chief executive Christopher Swift said in a release: “Fourth quarter and full-year 2023 results were simply outstanding, demonstrating the effectiveness of our strategy, and our ability to consistently execute.

“Our 2023 core earnings ROE (return on equity) of 15.8% reflects exceptional underwriting in commercial lines, record core earnings from group benefits, and continued solid performance from our investment portfolio.”

The CEO added: “Building on another quarter and full year of exceptional performance, we are well positioned to sustain these results in 2024.”

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