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The Hartford sees commercial premium growth but underwriting margins narrow
Business written premiums rose 5% to $4.02 billion in the quarter ended June 30, 2026, while the combined ratio climbed to 91.4 from 87.0 as catastrophe losses increased.
The Hartford reported that its commercial premiums increased in the second quarter, but underwriting margins tightened as lower reserve releases and higher catastrophe losses outweighed growth, Insurance Business said. Business insurance written premiums rose 5% to $4.02 billion for the three months ended June 30, 2026. The insurer’s combined ratio increased to 91.4 from 87.0 a year earlier, and its underlying combined ratio rose to 89.3 from 88.0, signaling margin compression even though the ratio remained below 100. The results came amid softer pricing across parts of the US commercial insurance market, with The Council of Insurance Agents & Brokers reporting average premiums across all account sizes fell 1.2% in the first quarter of 2026. Large-account premiums declined 2.7% and medium accounts dropped 1.9%, while small accounts were the only segment to rise, up 1.1%.
At The Hartford, small business premiums increased 7% and its combined ratio improved to 85.9, while middle and large business combined ratio worsened to 101.9 from 86.6, meaning claims and expenses exceeded premiums during the quarter. The Hartford said its underwriting gain fell 29% to $316 million, with favorable development from earlier accident years dropping to $52 million from $146 million and catastrophe losses rising to $129 million, mainly from tornado, wind and hail events.