Hartford’s 89.3% Business Insurance Combined Ratio — Can Pricing Discipline Hold?

The Hartford’s second quarter financial results for 2026 reflect a continuation of the company’s strategic execution across its core insurance segments—Business Insurance, Personal Insurance, and Employee Benefits—supported by strong capital management and investment income. In Business Insurance, the company reported 5% written premium growth with an underlying combined ratio of 89.3%, demonstrating disciplined underwriting and risk selection amid competitive market conditions. The Small Business segment showed particularly strong results, with 7% premium growth and an improved combined ratio of 86.5%, driven by investments in automation and digital services facilitating broker consolidation. The Middle & Large segment reported 4% premium growth and an underlying combined ratio of 95.3%, impacted by typical quarterly volatility due to non-catastrophic property losses and shifting business mix. The Global Specialty unit also posted 4% growth with combined ratios in the mid-80s, despite a slight rise in international loss and expense ratios attributed to technology investments.