The Hartford Insurance Group, Inc.

of future performance and actual results could be materially different. We do not assume any obligation to update information or forward-looking statements provided on this call. Investors should also consider the risks and uncertainties that could cause actual results to differ from these statements. A detailed description of those risks and uncertainties can be found in our SEC filing. Our commentary today include non-GAAP financial measures. Explanations and reconciliations of these measures to the comparable GAAP measure are included in our SEC filings, as well as in the news release and financial supplement. Finally, note that no portion of this conference call may be reproduced or rebroadcast in any form without the Hartford's prior written consent. replays of this webcast and an official transcript will be available on the Hartford's website for one year. I'll now turn the call over to Chris.

Good morning and thank you for joining us today. Last April on our first quarter earnings call, I had said I'd never been more excited about the future of the Hartford and was extremely bullish about our prospects for growth and further margin expansion. Since then, We have demonstrated our ability to deliver on these commitments through exceptional execution quarter after quarter. We continued that momentum in the first quarter with core earnings of $561 million or $1.66 per diluted share up from $203 million or $0.56 per diluted share in the prior quarter. Book value per diluted share excluding AOCI was $51.42. and our 12-month core earnings ROE was 14.8%. During the quarter, we were pleased to return $530 million to shareholders through share repurchases and common dividends. These results are an investment in our business and a return of capital to shareholders.

We delivered these results during a very dynamic period with ongoing challenges from COVID. COVID, the secondary impacts of the Ukraine conflict, anticipated Fed actions to raise while shrinking its balance sheet to address of inflation. And yet there are reasons for remains very low. 3.6% at the end of years are historically holding low levels of debt with health Home prices have appreciated 17% on average over the past year, providing homeowners healthy earnings profiles, while new U.S. business applications are up 65% from the pre-pandemic levels, a trend that is We view the economic environment as favorable to our business. where growth is fueled by new business startups and commercial exposure expansion. We are confident that the Hartford is well positioned to perform across its portfolio of businesses, maximizing value for our stakeholders.