HIG - The Hartford Non-GAAP EPS of $1.88 beats by $0.03 revenue of $6.05B misses by $40M
2023-07-27 16:26:49 ET
- The Hartford press release ( NYSE: HIG ): Q2 Non-GAAP EPS of $1.88 beats by $0.03 .
- Revenue of $6.05B (+12.7% Y/Y) misses by $40M .
- Property & Casualty written premiums rose 11% in second quarter 2023, driven by Commercial Lines premium growth of 12%. Group Benefits fully insured ongoing premium growth of 7% in second quarter 2023.
- P&C current accident year catastrophe losses of $226 million, before tax, with $123 million in Commercial Lines and $103 million in Personal Lines.
- Commercial Lines second quarter combined ratio of 91.2 and underlying combined ratio* of 88.3.
- Group Benefits second quarter net income margin of 7.0% and core earnings margin* of 7.6%.
- Returned $484 million to stockholders in the second quarter, including $350 million of shares repurchased and $134 million in common stockholder dividends paid.
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The Hartford Non-GAAP EPS of $1.88 beats by $0.03, revenue of $6.05B misses by $40M