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THE HARTFORD NEWS RELEASE The Hartford Announces First Quarter 2021 Results And Financial Targets • • • • Expects ‘ Hartford Next ' savings to reach $ 540 million in 2022 and $ 625 million in 2023 Increases share repurchase authorization to $ 2.5 billion ; $ 1.5 billion in 2021 Targets 13-14 % ROE in 2022 and 2023 Board unanimously rejects two additional Chubb proposals as not in the best interests of shareholders HARTFORD , Conn . , April 22 , 2021 - The Hartford ( NYSE : HIG ) today announced financial results for the quarter ended Mar. 31 , 2021. In the quarter , The Hartford earned $ 244 million in net income available to common stockholders , or $ 0.67 per diluted share , and core earnings * of $ 203 million , or $ 0.56 per diluted share . Reported results include the impact of the $ 650 million settlement with the Boy Scouts of America ( BSA ) , $ 214 million in pre - tax net catastrophe ( CAT ) losses , mainly due to winter storms in Texas and other areas , and $ 185 million in COVID - 19 related excess mortality losses in Group Benefits . Aside from these three items , underlying performance in the quarter remained very strong . * • • • • Commercial Lines combined ratio of 109.7 % with an underlying Commercial Lines combined ratio of 91.2 % * , a 3.7 point improvement from 94.9 % in the prior year quarter Small Commercial new business premiums were up 12 % in the first quarter of 2021 driving record quarterly premium in this business Group Benefits net income margin was 0.6 % while the core earnings margin was ( 0.2 ) % * ; both the net income margin and core earnings margin included approximately 10.0 points in excess mortality and COVID - 19 short - term disability losses Net investment income of $ 509 million grew 11 % from the prior year quarter driven by strong annualized partnership returns of 21.1 % * 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 ** All amounts and percentages set forth in this press release are approximate unless otherwise noted .