Business Insurance earned premium increased by 9%, indicating successful growth in the commercial insurance segment. This is driven by an increase in new business across most lines of business and earned pricing increases.

Personal Insurance earned premium increased by 11%, indicating successful growth in the personal insurance segment. This is driven by earned pricing increases, partially offset by non-renewals.

Employee Benefits premium increased by 2%, indicating slow growth in the employee benefits segment. This is driven by an increase in exposure on existing accounts, new business sales, and persistency in excess of 90%.

The company repurchased $400 million in common stock during the quarter and has $2.75 billion remaining under the current authorization. This indicates an active capital allocation strategy to enhance shareholder value.

The company utilizes various reinsurance programs to mitigate catastrophe losses including excess of loss occurrence-based treaties covering property and workers' compensation, a catastrophe bond, an aggregate property catastrophe treaty, and individual risk agreements.

The company uses derivative instruments to manage risk associated with interest rate, equity market, credit spread, issuer default, price, and currency exchange rate or volatility.

The Company acknowledges that the degree of variability of gross reserve estimates for these exposures is significantly greater than for other more traditional exposures.

Weather and other natural physical events, including the intensity and frequency of thunderstorms, tornadoes, hail, wildfires, flooding, winter storms, hurricanes and tropical storms, as well as climate change and its potential impact on weather patterns.

The Company's ability to maintain the availability of its systems and safeguard the security of its data in the event of a disaster, cyber breach or other information security incident, technology failure or other unanticipated event.

The Hartford is a holding company for insurance and financial services subsidiaries that provide property and casualty insurance, employee group benefits insurance and services, and mutual funds and exchange-traded funds to individual and business customers in the United States as well as in the United Kingdom and other international locations.

Most of Personal Insurance written premium is associated with our exclusive licensing agreement with AARP, which is effective through December 31, 2032. This agreement provides an important competitive advantage given the size of the 50 plus population and the strength of the AARP brand.

The Company aims to maintain a diversified investment portfolio including issuer, sector and geographic stratification, where applicable, and has established certain exposure limits, diversification standards and review procedures to mitigate credit risk.

The expense ratio for Business Insurance increased 0.2 points, indicating less efficient operations. This is driven by higher marketing expense.

The expense ratio for Personal Insurance increased 1.7 points, indicating less efficient operations. This is driven by higher marketing expense.

The company is managing claim costs effectively in workers' compensation, homeowners, and Personal Insurance automobile liability. This is driven by lower than previously estimated claim severity.

The Company is investing in technological changes, including usage-based methods of determining premiums, advancements in certain emerging technologies, including machine learning, predictive analytics, "big data" analysis or other artificial intelligence functions, advancements in automotive safety features, the development of autonomous vehicles, and platforms that facilitate ride sharing.

The company uses analytical models in making decisions in key areas such as underwriting, pricing, capital management, reserving, investments, reinsurance and catastrophe risk management.

The company is investing in digital transformation efforts, including the ability to market, distribute and provide insurance products and investment advisory services through current and future distribution channels and advisory firms.

During the three months ended March 31, 2025 and 2024, the Company repurchased $400 (3.5 million shares) and $350 (3.8 million shares), respectively, of common stock under Board authorized share repurchase programs covering the applicable periods.

The Hartford's Board of Directors declared the following quarterly dividends since January 1, 2025:Common Stock Dividends, Preferred Stock Dividends.

The primary investment objective for the Company is to maximize economic value, consistent with acceptable risk parameters, including the management of credit risk and interest rate sensitivity of invested assets, while generating sufficient net of tax income to meet policyholder and corporate obligations.

The Hartford closely monitors scientific literature on climate change to help identify climate change risks impacting our business.

We use data from the scientific community and other outside experts including partnerships with third-party catastrophe modeling firms to inform our risk management activities and stay abreast of potential implications of climate-related impacts that we incorporate into our risk assessment.

The company is managing aggregate risk and management strategy through product pricing, underwriting and management of aggregate risk to manage implications of severe weather and climate change in our insurance portfolio.

Market risks associated with our business, including changes in credit spreads, equity prices, interest rates, inflation rate, foreign currency exchange rates and market volatility.

Regulatory requirements that could delay, deter or prevent a takeover attempt that stockholders might consider in their best interests; and the impact of potential changes in accounting principles and related financial reporting requirements.

Risks associated with the use of analytical models in making decisions in key areas such as underwriting, pricing, capital management, reserving, investments, reinsurance and catastrophe risk management.