Hartford expects jump in first-quarter profit

Hartford Financial Services Group Inc. said late Thursday it expects to report $530 million in net income for the first quarter of 2023, a 20.5% increase over the same period last year.

The results will include $185 million in pre-tax catastrophe losses, primarily from winter storms on the East and West coasts and tornado, wind and hail losses in several regions of the United States, the insurer said in a statement.

Hartford expects to report a 92.7% combined ratio for its commercial lines business, a 106.1% combined ratio for its personal lines business and consolidated investment income of $515 million, the statement said.