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NEWS RELEASE

The Hartford Announces Fourth Quarter And Full Year 2020 Financial Results, 2021 Outlook For Select Business Metrics    

Fourth quarter 2020 net income available to common stockholders of $532 million ($1.47 per diluted share) decreased 2% from fourth quarter 2019, and core earnings* of $636 million (core earnings per diluted share* of $1.76) rose 22% from fourth quarter 2019
Full year 2020 net income available to common stockholders of $1.7 billion ($4.76 per diluted share) decreased 17% from full year 2019. Full year 2020 core earnings of $2.1 billion ($5.78 per diluted share) increased 1% from full year 2019
Net income ROE for the trailing 12-month period ended Dec. 31, 2020, was 10.0% and core earnings ROE* for the same period was 12.7%
Book value per diluted share was $50.39, compared to $43.85 at Dec. 31, 2019; book value per diluted share excluding accumulated other comprehensive income (AOCI)* rose 8% to $47.16

Commercial Lines combined ratio of 91.8 compared with 98.2 in fourth quarter 2019; underlying combined ratio* of 90.7 was 5.2 points better than fourth quarter 2019 with underlying margin improvement across Small Commercial, Middle & Large Commercial and Global Specialty. Commercial Lines included $28 million, before tax, or 1.3 points of COVID-19 losses in the quarter

Group Benefits net income margin was 3.9% in fourth quarter 2020 compared with 10.5% in the year prior. Core earnings margin* was 3.3% in fourth quarter 2020, compared with 10.6% in the year prior. Group Benefits experienced excess mortality of $152 million, before tax, or 8.1 points of margin impact, in fourth quarter 2020, primarily caused by direct and indirect impacts of COVID-19

Capital management actions include a quarterly dividend increase of 8% to $0.35 per common share, payable Apr. 2, 2021 to shareholders of record at the close of business on Mar. 1, 2021, and the previously announced share repurchase authorization of $1.5 billion, effective Jan.1, 2021 through Dec. 31, 2022



* Denotes financial measure not calculated in accordance with generally accepted accounting principles (non-GAAP); definitions of non-GAAP measures and reconciliations to their closest GAAP measures can be found in this news release under the heading Discussion of Non-GAAP Financial Measures

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The following information was filed by Hartford Financial Services Group Incde (HIG) on Thursday, February 4, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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