WASHINGTON (dpa-AFX) - The Hartford Insurance Group, Inc. (HIG) on Thursday reported an increase in profit for the second quarter, driven by premium growth and stronger investment income. The company also announced a new $4.2 billion share repurchase authorization.
Net income for the quarter increased to $1.29 billion or $4.68 per share from $990 million or $3.44 per share a year earlier. Core earnings edged to $945 million or $3.42 per share from $932 million or $3.24 per share.
Property & Casualty written premiums grew 3%, led by 5% growth in Business Insurance premiums, while Employee Benefits fully insured ongoing premiums also increased 5%.
Net investment income rose 22% to $800 million, supported by higher income from limited partnerships and a larger invested asset base.
The board approved a new $4.2 billion share repurchase program, effective August 1, 2026, through the end of 2028, representing a 27% increase from the previous authorization.
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