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The Hartford Insurance Group’s largest business insures companies against workplace injuries, property damage and liability claims. Businesses pay premiums for this protection, generally buying through agents and brokers. Small and midsized businesses account for most of its commercial insurance premiums.
Employers and employees also pay for group life and disability coverage, and The Hartford administers some employers’ self-funded benefit plans. It sells auto and homeowners insurance to individuals, with most personal insurance sales tied to its exclusive AARP licensing relationship. Separately, Hartford Funds manages mutual funds and exchange-traded funds, earning fees linked to assets under management.
Insurance supplies most of the group’s revenue. Its earnings depend on premiums and investment income covering claims and operating costs, so assessing risks and pricing coverage are central to the business. State regulators restrict many insurance rates and require insurers to maintain capital. The parent company relies principally on dividends from its subsidiaries, and insurance regulation limits how much cash those subsidiaries can send upstream.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Hartford’s results depend chiefly on commercial underwriting and employee-benefit claims, but AARP—the key relationship behind its personal insurance business—is missing from this list.
Travelers competes with Hartford for businesses buying property and liability coverage and individuals buying auto and homeowners insurance. Watch whether Travelers can raise prices enough to cover claims costs in those lines; regulatory approvals and competition affect how quickly it can do so.
Chubb challenges Hartford for commercial and specialty insurance customers, with overlap in personal coverage too. Its commercial and specialty underwriting profits offer a read on whether disciplined pricing and risk selection are paying off in markets Hartford also serves.
CNA Financial Corporation competes with Hartford for small, medium and large businesses buying property and liability insurance through independent agents and retail and wholesale brokers. Its commercial insurance pricing and liability claims costs are useful comparisons for Hartford’s business coverage.
Hanover competes especially closely with Hartford for small-business and middle-market insurance customers, while both also sell specialty and personal coverage through independent agents. Hanover’s Core Commercial results are the closest comparison to the customer groups that generate most of Hartford’s Business Insurance written premiums.
W.R. Berkley competes with Hartford for businesses seeking commercial and specialty coverage tailored to their industry or risks. Pricing and casualty claims costs in Berkley’s specialized insurance businesses help gauge conditions facing Hartford’s comparable coverage.
Selective Insurance Group competes with Hartford for U.S. businesses buying property and liability coverage through independent agents. Its Standard Commercial Lines results are the clearest comparison: that segment generated 71% of Selective’s total revenue in 2025.
Cincinnati Financial competes with Hartford through independent agencies for business insurance and individuals’ auto and homeowners coverage. Compare its commercial and personal insurance results separately, since both are substantial sources of its written premiums.
AIG competes for the business customers served by Hartford’s middle-and-large business and global specialty operations, selling commercial coverage in North America and internationally. Its North America Commercial and International Commercial results are more relevant to that competition than its personal insurance results.
American Financial Group’s Great American insurance businesses compete with Hartford’s commercial and global specialty operations to cover specialized business risks. Watch pricing and claims costs in those specialist businesses, whose managers control underwriting and policy servicing.
Employers Holdings competes with Hartford for small and mid-sized employers paying to cover employees’ work-related injuries and illnesses—workers’ compensation insurance. Its claims costs for lower-hazard businesses provide a focused comparison for Hartford’s small-business workers’ compensation coverage.
Old Republic International Corporation competes with Hartford to insure businesses against workers’ compensation, commercial auto and other liability risks through its specialty operations. Its title insurance business has different drivers, so it is not the same guide to Hartford.
Arch competes with Hartford for U.S. specialty insurance customers in both standard approved markets and markets for risks placed outside them, known as E&S, and both underwrite through Lloyd’s. Arch’s specialty insurance pricing is a closer comparison for Hartford’s global specialty business than its mortgage insurance results.
AXIS competes with Hartford for businesses buying professional liability and other specialty coverage through wholesale brokers. Its pricing and claims experience in coverage for professional errors and directors’ and officers’ liability are useful comparisons for Hartford’s professional liability business.
Progressive competes with Hartford’s Personal Insurance business for individuals buying auto and homeowners coverage. Its auto pricing and claims costs are relevant to Hartford’s personal lines, but do not measure the strength of Hartford’s AARP relationship.
Allstate competes with Hartford for individuals buying auto and homeowners insurance through agents or directly from the insurer. Watch its auto and homeowners pricing against claims costs, rather than its separate Protection Services business.
Markel Group competes with Hartford’s global specialty business for commercial customers buying coverage through brokers. Its specialty underwriting profits are the cleaner comparison: changes in the value of its equity investments can make overall short-term results volatile.
RLI Corp. competes with Hartford’s specialty operations to cover property and liability risks and guarantee customers’ obligations through surety insurance, in both standard approved and excess-and-surplus markets. Its results in those tailored coverages help gauge whether pricing adequately compensates for distinctive risks.
Kinsale Capital Group competes with Hartford’s small-business and global specialty offerings to insure unusual or hard-to-place U.S. commercial risks in the excess-and-surplus market. Its Small Business Casualty premiums offer a focused comparison for small accounts, while Commercial Property premiums show a different part of the overlap.
Kinsale Capital Group, Inc. earningsKNSL
Kinsale’s report will show whether it can grow small-business casualty and commercial property insurance in the excess-and-surplus market while controlling claims, a focused comparison for Hartford’s overlapping specialty business.
Compare Kinsale’s small-business casualty and commercial property premium growth with its claims experience. Growth with controlled claims would show that rivals can add capacity for these specialized risks without obvious pricing strain, leaving Hartford with competition in overlapping business. Slower growth or worsening claims would point to tighter capacity or higher risk costs, making careful selection of similar risks more important for Hartford.
The Hartford Insurance Group, Inc. earningsThis company
Hartford’s report will show whether premium growth in its business and personal insurance is outpacing claims and expenses, turning growth into underwriting profit.
Read business and personal insurance premium growth alongside the property-and-casualty combined ratio—the share of premiums used for claims and expenses. Separate current claims from catastrophe losses and adjustments to prior-year reserves. Growing premiums with a stable or falling ratio after those effects are separated would show pricing and new business covering costs; growing premiums with a rising ratio would show claims or expenses eroding the gains.
The Hanover Insurance Group, Inc. earningsTHG
Hanover’s report will show whether commercial insurance for small and middle-market businesses can grow without claims eroding results in customer markets central to Hartford’s business insurance.
Focus on premium growth in Hanover’s Core Commercial business and how claims are changing relative to premiums. Growth with stable claims would suggest that pricing still covers risk in the small-business and middle-market segments that matter most to Hartford’s business insurance; claims rising faster than premiums would put margins in those markets under pressure.
Fed Interest Rate Decision
For The Hartford, the Fed’s policy rate signals the direction of borrowing costs and reinvestment yields, which can change income from its large fixed-maturity portfolio and the cost of financing its insurance business.
Expected4.0%Last release4.0%
If it comes in above expectations
If the policy rate is higher than expected, higher rates can improve yields as The Hartford reinvests maturing assets, but can also reduce the market value of existing fixed-income investments.
If it comes in below expectations
If the policy rate is lower than expected, lower rates can reduce future income as The Hartford reinvests maturing assets at lower yields, while easing borrowing costs for debt that reprices.
