The Hartford (HIG) Tops Q2 EPS by 100c

The Hartford (NYSE: HIG) reported Q2 EPS of $2.33, $1.00 better than the analyst estimate of $1.33.

• Second quarter 2021 net income available to common stockholders of $900 million ($2.51 per diluted share) increased 94% from second quarter 2020, and core earnings* of $836 million (core earnings per diluted share* of $2.33) were up 91% from second quarter 2020
• Net income ROE for the trailing 12-month period ended June 30, 2021, was 12.3% and core earnings ROE* for the same period was 13.1%
• Net investment income of $581 million, before tax, increased 71% from second quarter 2020. Results benefited from $191 million, before tax, or a 33% annualized return, on limited partnerships and alternative investments
• Commercial Lines written premiums of $2.5 billion were 15% higher than second quarter 2020 with increases in all three businesses. Standard Commercial new business premiums increased 46%
• Commercial Lines combined ratio of 88.9 in second quarter 2021 with an underlying combined ratio* of 89.4, a 13.5 point improvement from 102.9 in second quarter 2020, and a 3.7 point improvement when excluding COVID-19 losses in both periods
• Group Benefits net income margin was 10.7% while the core earnings margin* was 9.5%; both the net income margin and core earnings margin included approximately 1 point of excess mortality and COVID-19 related short-term disability impacts
• During the quarter, The Hartford returned $694 million to shareholders, including $568 million of shares repurchased and $126 million in common dividends paid. Share repurchases from July 1 to July 27, 2021 totaled $116 million

For earnings history and earnings-related data on The Hartford (HIG) click here.

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