The Hartford Insurance Group, Inc.

The Hartford Insurance Group, Inc. is an American property and casualty insurer and group benefits provider that traces its origins to 1810, making it one of the oldest continuously operating insurance companies in the United States. The company generated $28.3 billion in revenue and $3.8 billion in net income in fiscal 2025, operating through five segments: Business Insurance, Personal Insurance, P&C Other Operations, Employee Benefits, and Hartford Funds.

This is a story about a disciplined underwriter that has methodically transformed itself from a sprawling multi-line carrier into a focused, capital-light compounder. Over the past decade, The Hartford shed its life insurance and annuity businesses, exited problematic long-tail legacy lines, and rebuilt its competitive position around small commercial insurance, where it holds what management and many observers consider a durable franchise. The central question the file turns on is whether the underwriting margin that drives today's returns can be defended as the property and casualty pricing cycle turns — and whether the capital return engine that has made the stock a quiet outperformer still has room to run.