Hartford Financial Services Group Inc. reported a slight decline in net income in the fourth quarter of 2020 compared with the year-earlier period, despite a robust performance by its commercial lines.

“P&C underwriting results significantly improved in the fourth quarter,” Christopher Swift, Hartford’s chairman and CEO, said in an earnings call Friday. “These results were in line or better than the guidance we provided a year ago, driven by higher pricing, … underwriting discipline and operating efficiency.”

The Hartford, Connecticut-based insurer reported fourth-quarter net income of $532 million, down 2% from the same quarter in 2019. For all of 2020, it posted net income of $1.7 billion, down 17% from 2019, driven in part by the impact of the coronavirus and lower net investment income. Hartford reported $278 million in COVID-19 claims for the year.

Witten premiums declined to $2.87 billion in the fourth quarter from $2.90 billion in the same period in 2019. Written premiums for the year totaled $11.91 billion, up $11.58 billion in 2019.

In commercial lines, Hartford reported net income of $478 million for the fourth quarter of 2020, up from $302 million in the year-earlier period, and a combined ratio of 91.8, down 6.4 points.

Net income in commercial lines for 2020 declined 28% to $856 million, and the line’s combined ratio deteriorated 2.7 points to 100.4.

Written premiums in commercial remained flat at $2.2 billion in the fourth quarter. Written premiums for the year rose 6% from 2019 to nearly $9.0 billion.

The commercial lines segment also reported COVID-19-incurred losses of $28 million before tax in the fourth quarter, including $14 million in workers compensation.

Financial statements reported that Hartford increased its year-end reserves by $254 million for sexual molestation and abuse claims filed against the Boy Scouts of America. The insurer has “not put up any reserves” for fighting COVID-19 business interruption lawsuits in the courts, said Hartford President Doug Elliott.

“We are pleased the overwhelming majority of (business interruption) decisions to date ... have held in favor of the insurance carriers,” Mr. Swift said. “I am confident the appellate courts will properly consider the growing body of precedent in favor of the industry.”

More insurance and workers compensation news on the coronavirus crisis here.