The Hartford Insurance Group (HIG) Q4 2025 earnings summary

Executive summary

• Achieved core earnings of $3.8 billion for 2025, up 25% year-over-year, with core EPS of $13.42, a 30% increase from 2024, and core earnings ROE of 19.4%.

• Net income rose 23% to $3.8 billion, with net income ROE at 22.0%.

• Delivered outstanding Q4 and full-year results, with strong performance across all business segments and continued execution of innovation and technology strategies.

• Returned $2.2 billion to stockholders in 2025, including $1.6 billion in share repurchases and $592 million in dividends.

• Investments in AI and digital platforms are driving operational efficiencies and improved customer experiences.

Financial highlights

• Q4 2025 core earnings were $1.1 billion ($4.06 per diluted share), up 33% year-over-year.

• Book value per diluted share (excluding AOCI) was $73.62 at year-end, up 13% from prior year.

• Net investment income for Q4 was $832 million, up 17% year-over-year; full year net investment income was $2.9 billion, up 13%.

• Core earnings ROE for 2025 was 19.4%, up from 16.7% in 2024.

• Returned $546 million to stockholders in Q4, including $400 million in share repurchases.

Outlook and guidance

• Management expects continued growth in business insurance, especially in SME and property, with property premiums targeted to grow 10-11% in 2026.

• Net investment income projected to increase in 2026, supported by higher invested assets and improved limited partnership returns.

• Quarterly share repurchases to increase to $450 million, with $1.55 billion authorization through 2026.

• Personal insurance aims for policy count growth in agency channel, with pricing increases moderating in 2026.

• For 2026, expects net P&C dividends of $2.2 billion, Employee Benefits dividends of $580 million, and Hartford Funds dividends of $170 million.