Hartford Insurance Group (NYSE:HIG) Full Year 2024 Results

Key Financial Results

• Revenue: US$26.6b (up 8.2% from FY 2023).
• Net income: US$3.09b (up 24% from FY 2023).
• Profit margin: 12% (up from 10% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: US$10.51 (up from US$8.09 in FY 2023).

HIG Profitability Indicators

• Combined ratio: 89.9% (up from 89.6% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Hartford Insurance Group EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.2%.

The primary driver behind last 12 months revenue was the Business Insurance segment contributing a total revenue of US$14.4b (54% of total revenue). Notably, cost of sales worth US$17.2b amounted to 65% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$5.26b (83% of total expenses). Explore how HIG's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Insurance industry in the US.

The company's shares are up 1.6% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on Hartford Insurance Group's balance sheet.

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