The Hartford Financial Services Group, Inc. - HIG STOCK NEWS

The Hartford has expanded its partnership with Workday by becoming a strategic Workday Wellness partner. The collaboration will leverage AI-powered solutions to provide personalized wellness experiences and streamline benefits management. The partnership offers real-time insights into employee benefits usage, automated eligibility data, and streamlined evidence of insurability processes.

According to The Hartford's 2024 Future of Benefits study, 62% of HR professionals report increased responsibilities, with 82% stating HR technology has made their job easier. The enhanced partnership will enable faster data integrations, comprehensive implementation support, and real-time data exchange between the two platforms, helping employers better adapt their benefits to employee needs.

The Hartford (NYSE: HIG) and Coalition have announced a strategic long-term capacity partnership for the UK cyber insurance market. The Hartford will assume a quota share of Coalition's UK cyber program, complementing existing capacity partner relationships. The partnership combines The Hartford's established cyber market strength with Coalition's Active Insurance approach, which focuses on helping businesses prevent and mitigate cyber risks before they become disruptions. The collaboration aims to serve growing customer and broker demand in the UK market through Coalition's comprehensive insurance coverage and cybersecurity tools.

The Hartford announced key leadership changes in its Global Specialty division, effective Nov. 1. Michael Garrison's role has been expanded to include the International division alongside his current position as head of U.S. wholesale organization. Rick Ciullo has been appointed head of Global Specialty's U.S. retail businesses, extending his oversight beyond Bond and Credit & Political Risk to include Environmental, Financial Lines, Ocean Marine, and Livestock operations.

Both executives will report to Adrien Robinson, The Hartford's Head of Global Specialty. The restructuring aims to enhance innovation and better serve customers by organizing complementary business units into unified teams, focusing on distribution channels to respond quickly to market dynamics while maintaining customized solutions.

The Hartford (HIG) reported strong Q3 2024 financial results with net income of $761 million ($2.56 per share), up 18% from Q3 2023. Core earnings reached $752 million ($2.53 per share), a 6% increase. The company demonstrated solid growth with P&C written premiums up 10%, driven by Commercial Lines (+9%) and Personal Lines (+12%). Notable achievements include a Commercial Lines combined ratio of 92.2, Group Benefits net income margin of 8.8%, and a trailing 12-month net income ROE of 20.0%. The company increased its quarterly dividend by 11% to $0.52 per share and returned $538 million to stockholders through share repurchases and dividends.

The Hartford, a leading employee benefits and absence management provider, is launching two new technology resources to enhance leave management support. These tools, Leave Lens℠ and the Absence Dashboard, aim to guide U.S. workers through the leave experience and provide employers with insights into employee absences.

Leave Lens allows workers to plan upcoming leaves, understand available benefits, and visualize their leave timeline. It will be available for parental and maternity leaves in January 2025, with expansion to other leave types later that year.

The Absence Dashboard offers employers a consolidated view of employee absences, helping manage workforce productivity and identify absence trends. It will be available for new customers using The Hartford's Ability Advantage® platform in January 2025, with a rollout to existing customers throughout the year.

The Hartford and Active Minds are expanding their partnership to bring the Send Silence Packing® exhibit to over 100 U.S. college campuses in 2024 and 2025. This mental health awareness initiative features backpacks with stories of loss, survival, and resilience. The fall 2024 tour will visit 23 cities across nine states, potentially reaching 375,000 students.

Key points:

• 76% of attendees used exhibit information for personal well-being
• 70% supported friends and family with gained knowledge
• 2025 focus: reaching Black, Hispanic, and LGBTQ+ students
• CDC data shows rising suicide rates among Black adolescents
• 41% of LGBTQ+ teens considered suicide in the past year

This collaboration aims to increase mental health awareness, reduce stigma, and save lives among youth and young adults.

The Hartford (NYSE: HIG) reported outstanding second quarter 2024 financial results, with net income available to common stockholders of $733 million ($2.44 per diluted share), a 35% increase from the same period in 2023. Core earnings rose 28% to $750 million ($2.50 per diluted share). The company achieved a net income ROE of 19.8% and a core earnings ROE of 17.4%.

Key highlights include:

• Property & Casualty written premiums up 12%
• Commercial Lines combined ratio of 89.8
• Group Benefits net income margin of 9.7%
• New $3.3 billion share repurchase program authorized

The Hartford's strong performance reflects its effective strategy and ongoing investments to differentiate itself in the marketplace.

The Hartford's Board of Directors has declared quarterly dividends for both common and preferred stockholders. Common stock shareholders will receive $0.47 per share, payable on October 2 to shareholders of record as of September 3. Series G preferred stock shareholders will receive $375 per share (equivalent to $0.375 per depository share), payable on November 15 to shareholders of record as of November 1. This announcement demonstrates The Hartford's commitment to providing regular returns to its investors and maintaining its dividend policy.

The Hartford has announced key leadership successions: Michael Fish will become head of Group Benefits, succeeding Jonathan Bennett, who retires at the end of 2024 after 25 years with the company. Fish, currently COO for Group Benefits, will report to Chairman and CEO Christopher Swift. Additionally, H. Clay Bassett Jr. will succeed M. Ross Fisher as global chief underwriting officer and head of reinsurance. Bassett, deputy global chief underwriting officer and head of Navigators Reinsurance, will report to CFO Beth Costello. Both transitions will be completed by October 1, 2024. These appointments reflect The Hartford's emphasis on internal talent development and succession planning.