Core Insights - Selective Insurance Group is focusing on improved profitability and strong investment results, with expectations for further margin improvement in 2026 and beyond [5] Commercial Auto - The company anticipates accident-year margins to improve in 2025 due to double-digit rate increases over multiple years, exceeding an assumed loss trend of approximately 8% [1] - However, Selective increased commercial auto casualty loss costs by nearly 6 points and raised its expected severity trend for commercial auto liability to about 10% [1] - In total, Selective strengthened commercial auto reserves by approximately $190 million in 2025, primarily related to the 2024 and 2025 accident years [1] Financial Performance - Selective reported a fourth-quarter GAAP combined ratio of 93.8%, a 4.7-point improvement from the prior-year quarter, attributed to no net prior year reserve development [3] - For the full year 2025, the combined ratio improved to 97.2% from 103% in 2024, mainly due to lower prior-year casualty reserve development and lower catastrophe losses [3] - Fourth-quarter fully diluted EPS was $2.52, up 66% year over year, and operating EPS was $2.57, up 59% [4] Underwriting and Reserves - The company experienced favorable workers' compensation development that offset unfavorable emergence in commercial and personal auto lines [2] - Net premiums written grew by 5% for the year, driven by deliberate actions to improve underwriting profitability [2] - Selective strengthened reserves for both 2024 and 2025, indicating comfort with the overall carried reserve position [2] Segment Trends - Standard Commercial Lines, the largest segment, posted a fourth-quarter combined ratio of 92.9%, with premium growth driven by a renewal pure price increase of 7.5% [7] - E&S premium grew by 4% in the quarter, with average renewal pure price increases of 7.8% [8] - Personal Lines produced a fourth-quarter combined ratio of 103%, deteriorating from 91.7% in the prior-year quarter, primarily due to catastrophe losses [9] Investment and Reinsurance - Fourth-quarter after-tax net investment income was $114 million, up 17% from a year earlier, with an average credit quality of A+ [10] - The company renewed its property catastrophe program, maintaining a $100 million retention and increasing the coverage exhaustion point to $1.5 billion [11] 2026 Outlook - Selective's 2026 guidance calls for a GAAP combined ratio of 96.5% to 97.5%, with an expected underlying improvement in Personal Lines and Commercial Lines [12][13] - After-tax net investment income is projected to be $465 million, up 10% from 2025 [12] - The company expects an operating ROE in the 14% range for 2026, supported by continued casualty pricing and mix actions [13] Strategic Focus - The company is focused on risk selection, policy pricing, claims outcomes, and the use of data, analytics, technology, and artificial intelligence as it approaches its 100th anniversary in 2026 [14]

Financial Data and Key Metrics Changes - The Hartford reported Core Earnings of $3.8 billion for 2025, with a Core Earnings ROE of 19.4% [5][16] - Core earnings for Q4 2025 were $1.1 billion, or $4.06 per diluted share [16] - The business insurance segment achieved written premium growth of 7% with an underlying combined ratio of 88.1 [16] - The overall expense ratio for business insurance increased to 31.8, up 1 point from the prior year [17] Business Line Data and Key Metrics Changes - Business insurance delivered robust top-line growth of 8%, with small business written premium of $6 billion and an underlying combined ratio of 88.9 [4][9] - Personal insurance core earnings were $214 million, with an underlying combined ratio of 84.3, reflecting a 5.9 point improvement [18] - Employee benefits reported a Core Earnings margin of 7.6%, driven by strong group life and disability performance [22] Market Data and Key Metrics Changes - Business insurance renewal written pricing, excluding workers' compensation, was 6.1% for the quarter [10] - The property pricing continued to moderate, while casualty lines remained firm and above loss trend [11] - The investment portfolio generated net investment income of $832 million, a 17% increase from Q4 2024 [24] Company Strategy and Development Direction - The Hartford is focused on innovation and technology, with investments in AI to enhance underwriting and claims processes [7][8] - The company aims to sustain industry-leading ROEs through disciplined underwriting and risk selection, particularly in the SME segment [11][15] - The strategy includes expanding market share in personal insurance and employee benefits while maintaining profitability [13][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to sustain favorable renewal premium changes in small business due to strong market positioning and relationships with agents [30][32] - The company anticipates continued growth in the employee benefits segment, supported by investments in technology and new product offerings [22][63] - Management remains optimistic about the overall economic conditions and the potential for growth in 2026 [77] Other Important Information - The Hartford's catastrophe exposure is actively managed through disciplined underwriting and a robust reinsurance program [21][22] - The company plans to increase quarterly share repurchases to $450 million, subject to market conditions [25] Q&A Session Summary Question: How long can favorable renewal premium changes in small business be sustained? - Management believes the small business segment can continue to grow at healthy levels due to strong market differentiation and agent relationships [30][32] Question: What is the outlook for the Prevail platform? - The Prevail platform is expected to grow significantly, with plans to expand into 30 states by early 2027, enhancing market competitiveness [35][38] Question: What is the rationale behind the increase in dividends versus share buybacks? - The increase in dividends is balanced with share buyback levels to maintain flexibility and support long-term capital strategies [41][42] Question: How does the company view the impact of AI on the workforce? - Management sees potential for increased startup activity and small business formation, positioning The Hartford as a net winner in the evolving landscape [81] Question: What is the expected impact of Winter Storm Fern? - Management considers it a manageable event with minimal impact on claims activity compared to previous storms [84][86]

Financial Data and Key Metrics Changes - The Hartford reported Core Earnings of $3.8 billion for 2025, with a Core Earnings ROE of 19.4% [5][16] - Core earnings for Q4 2025 were $1.1 billion, or $4.06 per diluted share [16] - The business insurance segment achieved written premium growth of 7% with an underlying combined ratio of 88.1 [16] - The overall expense ratio for business insurance increased to 31.8, up 1 point from the prior year [17] Business Line Data and Key Metrics Changes - Business insurance delivered top-line growth of 8%, with small business written premium of $6 billion and an underlying combined ratio of 88.9 [4][9] - Personal insurance core earnings were $214 million, with an underlying combined ratio of 84.3, reflecting a 5.9-point improvement [18] - Employee benefits reported a Core Earnings margin of 8.2%, driven by strong life and disability results [4][14] Market Data and Key Metrics Changes - Business insurance renewal written pricing, excluding workers' compensation, was 6.1% for the quarter [10] - The personal insurance segment saw a 2% decline in written premium, although agency premium grew by 15% [18] - The investment portfolio generated net investment income of $832 million, a 17% increase from Q4 2024 [24] Company Strategy and Development Direction - The Hartford is focusing on technology and innovation, with investments in AI to enhance underwriting and claims processes [7][8] - The company aims to sustain industry-leading ROEs through disciplined underwriting and risk selection, particularly in the SME segment [11][15] - The strategy includes expanding market share in personal insurance while maintaining targeted profitability [13][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to sustain favorable renewal premium changes in small business due to strong market positioning and relationships with agents [30][32] - The company anticipates continued growth in employee benefits, supported by investments in technology and expanding product offerings [14][62] - Management remains optimistic about the overall economic conditions and the potential for growth in 2026 [77] Other Important Information - The Hartford completed an A&E reserve study, resulting in an increase in reserves of $165 million [20] - The company issued a new catastrophe bond, increasing the total per occurrence program for peak perils to $1.9 billion [22] - The company repurchased approximately 3 million shares for $400 million during the quarter [24] Q&A Session Summary Question: How long can favorable renewal premium changes in small business be sustained? - Management believes the small business segment can continue to grow at healthy levels due to differentiated capabilities and strong agent relationships [29][30] Question: What is the outlook for the Prevail platform? - The Prevail platform is expected to grow significantly, with plans to expand to 30 states by early 2027, focusing on new business in both direct and agency channels [35][38] Question: What is the rationale behind the increase in dividends versus share buybacks? - The increase in dividends is balanced with share buyback levels to maintain flexibility while managing capital effectively [41][42] Question: How does the company view the impact of AI on the workforce? - Management sees potential for increased startup activity and small business formation, positioning The Hartford as a net winner in the evolving landscape [81][82] Question: What is the impact of Winter Storm Fern on claims? - Management considers the event manageable, with early claims activity indicating it is less severe than previous storms [84][86]

The global financial services sector is undergoing a major transformation, with the drive for increased scale and the growth of private credit being the main forces behind mergers and acquisitions (M&A), according to Christopher Sur, Global Financial Services Deals Leader, PwC Germany.According to the latest industry outlook from PwC, dealmakers are moving beyond the cautious sentiment of previous years to embrace a “generational shift” in how capital is deployed and managed.This resurgence is characterised ...

Financial Data and Key Metrics Changes - The Hartford reported Core Earnings of $3.8 billion for 2025, with a Core Earnings ROE of 19.4% [5][15] - Core earnings for Q4 2025 were $1.1 billion, or $4.06 per diluted share [15] - The business insurance segment achieved written premium growth of 7% with an underlying combined ratio of 88.1 [15] - The overall expense ratio for business insurance increased to 31.8, up 1 point from the prior year [16] Business Line Data and Key Metrics Changes - Business insurance delivered top-line growth of 8%, with small business written premium of $6 billion and an underlying combined ratio of 88.9 [4][8] - Personal insurance core earnings were $214 million, with an underlying combined ratio of 84.3, improving by 5.9 points [17] - Employee benefits reported a Core Earnings margin of 8.2%, driven by strong life and disability results [4][12] Market Data and Key Metrics Changes - Business insurance renewal written pricing, excluding workers' compensation, was 6.1% for the quarter [10] - The Hartford's small business segment was ranked number one for digital capabilities by Keynova Group, with a double-digit lead in all categories [8] - The investment portfolio generated net investment income of $832 million, a 17% increase from Q4 2024 [22] Company Strategy and Development Direction - The Hartford is focusing on technology and innovation, with a multi-year journey towards an AI-first mindset [6] - The company aims to sustain industry-leading ROEs through disciplined underwriting and risk selection, particularly in the SME segment [10][14] - The Hartford is expanding its presence in the under 500 lives segment within employee benefits, with a focus on enhancing product offerings [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to capture additional market share while maintaining strong profitability in small business [8] - The company anticipates continued growth in personal insurance, particularly in the agency channel, while facing challenges in the direct channel [11] - Management remains optimistic about the economic outlook and the potential for growth in 2026, despite some pressures in the property market [44][74] Other Important Information - The Hartford completed its A&E reserve study, resulting in an increase in reserves of $165 million, primarily for asbestos and environmental claims [18] - The company renewed its catastrophe cover with favorable terms, enhancing capital strength and supporting growth in property underwriting [20] Q&A Session Summary Question: How long can favorable renewal premium changes in small business be sustained? - Management believes the small business segment can continue to grow at healthy levels due to strong relationships with agents and brokers, and a differentiated market position [28][30] Question: What is the outlook for the Prevail platform? - The Prevail platform is expected to grow significantly, with plans to expand to 30 states by early 2027, focusing on new business in both direct and agency channels [33][36] Question: Why is the buyback pace not increased in line with dividend increases? - Management indicated a balanced approach to share buybacks and dividends, considering overall capital flexibility and market conditions [39][40] Question: What is the outlook for business insurance margins in 2026? - Management refrained from providing specific numbers but emphasized a strong starting position and a disciplined approach to underwriting [42][44] Question: How will technology impact the expense ratio in a soft market? - Management is optimistic about capturing market share and believes that technology investments will lead to improved expense ratios over time [49][50]

ToplinePresident Donald Trump announced Friday his pick for the Federal Reserve chair is Kevin Warsh, a former central bank official-turned-critic and aide to former President George W. Bush with familial ties to a longtime billionaire Republican donor. Warsh has claimed the Federal Reserve’s monetary policy “has been broken for quite a long time.” Copyright 2014 AP. All rights reserved.Key FactsWarsh, 55, earned a law degree from Harvard University in 1995 before becoming a banker at Morgan Stanley, where ...

Fourth Quarter and Full Year 2025 Financial Results The Hartford Insurance Group, Inc. January 29, 2026 Safe Harbor Statement Certain statements made in this presentation should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These include statements about The Hartford's future results of operations. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Invest ...

Core Insights - Travelers (TRV) is highlighted as a strong dividend-paying company, maintaining its status as a "dividend machine" due to consistent underwriting practices [1]. Group 1: Company Performance - The capital redistribution strategy of Travelers is supported by two main pillars: consistent underwriting and effective capital management [1]. Group 2: Investment Community - The Cash Flow Club, which includes contributions from various analysts, focuses on company cash flows and access to capital, targeting a yield of over 6% [1].

中国发展网讯 1月21日，江苏省政府新闻办公室召开新闻发布会，系统回顾"十四五"时期江苏金融业发 展成就。会议由省委宣传部副部长胡连生主持，省委金融委员会办公室常务副主任、省地方金融管理局 局长巩海滨，人民银行江苏省分行副行长戴俊，金融监管总局江苏监管局副局长沈浩兵，证监会江苏监 管局副局长毕庆锋出席并回答记者提问。 发布会上，沈浩兵介绍了"十四五"以来江苏金融系统在省委省政府领导下，统筹发展与安全，深化金融 服务，强化监管履职，推动高质量发展所取得的显著成效。 行业发展稳中有进，稳健根基持续夯实 针对房地产与小微企业融资，建立并深化"两项机制"。房地产融资"白名单"项目获贷6229亿元，支持21 万套住房建设交付。普惠型小微企业贷款余额突破4万亿元，利率较"十三五"下降1.73个百分点，信用 贷款和中长期贷款占比显著提升。近三年通过无还本续贷累计服务企业106.5万户。 同时，金融资源精准对接重大战略与薄弱环节。为省级重大项目提供融资2万亿元，向人工智能等领域 投放政策性金融工具509亿元。制造业贷款余额达5.12万亿元，较"十三五"增长130%。普惠型涉农贷款 余额1.4万亿元，实现"一村双顾问"全覆盖， ...

Policy growth reflects strong execution and expanding distribution across RELI Exchange platform Broker network expanded from approximately 65 to approximately 300 since acquisition in 2022 LAKEWOOD, NJ, Jan. 30, 2026 (GLOBE NEWSWIRE) -- Reliance Global Group, Inc. (Nasdaq: EZRA) (the “Company”) today announced strong operating momentum across its insurance operations, highlighted by a significant year-over-year increase in health insurance policies written through its RELI Exchange, LLC subsidiary during t ...