The Hartford Insurance Group, Inc.

The lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Please limit yourself to one question and one follow-up. Thank you. I would now like to turn the call over to Kate Joren, Senior Vice President, Treasurer and Head of Investor Relations.

You may go ahead. Good morning, and thank you for joining us today for our second quarter 2025 earnings call and webcast. Yesterday, we reported results and posted all earnings-related materials on our website. Before we begin, please note that our presentation includes forward-looking statements, which are not guaranteed of future performance and may differ materially from actual results. We do not assume any obligation to update these statements. Investors should consider the risks and uncertainties detailed in our recent SEC filings, news release and financial supplement, which are available on the Investor Relations section of the hardford.com. Our commentary includes non-GAAP financial measures with explanations and GAAP reconciliations available in our recent SEC filings, news release and financial supplements. Now, I'd like to introduce our speakers, Chris Swift, Chairman and Chief Executive Officer, and Beth Costello, Chief Financial Officer. After their remarks, we will take your questions, assisted by several members of our management team. And now, I'll turn the call over to Chris.

Good morning, and thank you for joining us today. The Hartsford second quarter results were outstanding, with core earnings reaching nearly $1 billion. This performance reflects the effectiveness of our strategy and consistency of execution that drives our momentum. We are expanding our market presence and growing with purpose. Our strategic investments are advancing innovation across the organization to benefit customers and distribution partners. We are pleased with our -to-date performance, as we have successfully capitalized on market opportunities while maintaining strong margins. With that, let's take a closer look at second quarter performance. Highlights include top line growth and business insurance of 8% with an outstanding underlying combined ratio of 88. In personal insurance, an underlying combined ratio of 88, with 8.7 points of improvement over prior year, an exceptional core earnings margin of .2% in employee benefits, and continued solid performance in our investment portfolio. All these items contributed to an outstanding trailing 12-month core earnings ROE of 17%. Turning to business insurance, results were excellent, driven by industry-leading underwriting tools, pricing expertise, and data science advancements. Small business delivered an excellent underlying combined ratio with record-breaking quarterly net new business premium. Strong written premium growth was fueled in part by double-digit increases in auto and in our industry-leading packaged product, as well as a 35% increase in E&S binding premium. We are on a clear trajectory to exceed $6 billion in annual written premium in 2025. Growth in small is fueled by technology and data science advancements, which provide significant and unrivaled competitive advantages. For example, our -in-class quoting platform is powered by intelligent automation, real-time decisioning, and proprietary pricing models, differentiated by our rich historical data. Over the years, we have streamlined the submission process with intuitive workflows and advanced pre-fill of customer data. Our AI-driven underwriting logic suggests coverages based on business type and reflects the judgment of our most experienced underwriters. All of this delivers a seamless and efficient experience, allowing 75% of all quotes across all admitted lines of business to be bound within minutes. This provides a durable competitive advantage for us with our distribution partners. As we continue to invest in AI, we expect bindability to increase further, driving enhanced efficiency, greater scalability, and sustained profitable growth. Turning to middle and large business, underlying results were excellent with solid growth. We are focused on maintaining margins and making appropriate risk decisions using enhanced underwriting tools. Middle and large continues to advance the vision of an automated AI-driven underwriting process to enhance productivity and accelerate speed to market. Our strategic investments leverage strengths in small business and extend those advantages to middle market. Over time, we believe this position does well to capture additional market share in this space. Shifting to global specialty, results were outstanding with sustained underlying margins in the mid-80s and record quarterly gross written premium of $1.3 billion. Our strong competitive position, broad product portfolio, and disciplined renewal pricing drove this performance. Gross written premium in the wholesale business grew 8%, supported by growth in Casualty, Auto, and Inland Marine. Global reinsurance gross written premium grew 15%, driven by strong growth in both U.S. property and specialty casualty lines. With a diverse product portfolio and a constructive pricing environment, we remain confident in the growth potential of global specialty. As for pricing, business insurance renewal pricing, excluding workers' compensation, is strong at .1% and is still comfortably above the overall loss trend. Pricing execution remains highly disciplined with low double-digit increases in auto and general liability, including mid-teens increases in umbrella and excess lines. In workers' compensation, although pricing is modestly down from the first quarter, it remains within expectations. Across business insurance, focused expansion in property has driven 12% growth with written premium of $1 billion in the quarter. In small business, property pricing within our packaged product remains strong as we achieved 15% renewal written price increases. In general industries property, pricing is solid and above loss trends. Large property and wholesale pricing declined from the first quarter by 4 and 8 points respectively. However, both of these lines have adequate margins and account for less than 10% of total business insurance property. As we continue to grow the property book, we are maintaining a consistent catastrophe risk appetite and in another active cat quarter, our cat losses remain below our market share. Turning to personal insurance, results improved significantly over prior year. Homeowners had an outstanding quarter highlighted by 17% written premium growth and low 70s underlying combined ratio. Renewal written pricing of .7% driven by net rate and insured value increases continue to support healthy margins and reinforces a strong position in the market. Auto underlying results improved by 9.7 points to a mid-90s underlying combined ratio. We are now well positioned to profitably grow in both auto and home. This month we introduced our prevail offering inclusive of auto, home and umbrella to the agency channel unlocking additional opportunities with preferred market customers. We expect to be in six states by the end of the year and an additional 15 to 20 states next year. Agents are energized by the enhanced efficiency of prevail and have expressed strong commitment to promoting these improved offerings as new states come online. More broadly, agents and brokers at our annual summit in May conveyed a clear eagerness to deepen their partnership with us across the enterprise. They continue to recognize our ability to deliver fast, accurate solutions as a key differentiator in the market. With our ongoing investments in AI, digital tools and overall ease of doing business, we are well positioned to grow alongside our distribution partners and strengthen our collaborative success. Moving on to employee benefits, core earnings margin of .2% was exceptional driven by excellent life and disability results. Persistency remained strong in the low 90s while fully insured premium growth was flat reflecting a competitive market. Looking ahead, we are particularly excited about our recent partnership with NIA which brings AI powered personalization to benefits enrollment. This collaboration enhances digital capabilities and simplifies the benefits experience for employees through seamless integration with leading HR platforms. Improving benefit utilization enhances employee satisfaction and in turn helps employers retain their workers. This is another example of how we are advancing our innovation strategy and delivering meaningful value to both employers and their employees. In summary, second quarter results reflect the strength of our businesses and the impact of ongoing strategic investments. It is an exciting time at the Hartford as we advance our innovation agenda. We are prioritizing practical, high impact AI applications that augment human talent and drive productivity to better serve customers and distribution partners. Looking ahead, we are confident in our ability to capture additional market share, deliver profitable growth and capitalize on the opportunities ahead. Now I'll turn the call over to Beth to provide more detailed commentary on the quarter.