- Q1 core earnings of $452M or $1.04 per share vs. $501M and $1.05 one year ago.
- CEO Chris Swift: "[The] U.S. P&C pricing cycle that is increasingly competitive."
- Commercial Lines core earnings of $234M down 11% Y/Y. Underlying combined ratio of 92.4% improves a hair from a year ago after backing out a 3.2 point expense ratio benefit from NY Assessments in Q1 of 2014. Net investment income of $257M about flat from last year.
- Personal Lines core earnings of $75M down 26% from a year ago. Combined ratio of 89.9% deteriorates from 88.7%. Net investment income of $35M flat from last year.
- Group Benefits core earnings of $52M up 16% Y/Y. Mutual Funds core earnings of $22M up 5%.
- Talcott Resolution core earnings of $111M down 1%. VA and fixed annuity contract counts fell 13% and 16%, respectively, from a year ago.
- Annualized investment yield, excluding LPs of 4.1% down 10 basis points from last year.
- Book value (excl. AOCI) of $41.47 vs. $40.71 at start of year.
- Conference call tomorrow at 9 ET
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HIG +0.5% after hours