Welcome to our dedicated page for The Hartford Insurance Group news (Ticker: HIG), a resource for investors and traders seeking the latest updates and insights on The Hartford Insurance Group stock.
The Hartford Insurance Group Inc (HIG) provides property and casualty insurance, group benefits, and investment solutions through its diversified business segments. This news hub offers investors and analysts a centralized source for tracking corporate developments, financial performance, and strategic initiatives.
Access real-time updates including earnings reports, leadership changes, product launches, and regulatory filings. Our curated collection simplifies monitoring of HIG's business insurance innovations, risk management practices, and sustainability commitments while maintaining strict compliance with financial disclosure standards.
Key updates cover:
Quarterly earnings and financial results
Strategic partnerships and acquisitions
Leadership appointments and governance updates
Product expansions in commercial/personal insurance
Industry recognition and ESG initiatives
Bookmark this page for efficient tracking of HIG's market movements and operational milestones. Verify critical information directly through official SEC filings and company communications.
The Hartford is investing $2 million over two years to support Move United, a leader in adaptive sports, to launch The Hartford’s Competition Series and a digital fitness platform. The funding will enhance access to adaptive sports for over 600 participants across two major events in 2021 and contribute to a digital platform offering various online adaptive sports classes. The Hartford has a long history of advocating for adaptive sports, impacting over 21,000 people and donating more than 2,800 pieces of adaptive equipment since 2019.
The Hartford reported Q1 2021 net income of $244 million ($0.67 per share), down 9% year-over-year, largely due to $650 million BSA settlement and COVID-19-related losses. Core earnings fell 58% to $203 million ($0.56 per share). Despite this, the underlying performance remained robust, with an improved Commercial Lines combined ratio of 91.2%. Net investment income increased by 11% to $509 million, supported by a 21.1% return on partnerships. The company announced a $2.5 billion share repurchase plan to enhance shareholder value.
The Hartford (NYSE: HIG) has reached a $650 million settlement with the Boy Scouts of America, primarily for sexual abuse claims tied to policies from the 1970s. This agreement, part of BSA's Chapter 11 bankruptcy proceedings, aims to release The Hartford from obligations under the affected policies. The company anticipates court approval by Q3 2021, depending on various conditions. Additionally, The Hartford projects prior year development losses of approximately $225 million and current catastrophe losses of about $214 million for Q1 2021.
The Hartford (NYSE: HIG) has announced that its board of directors has unanimously rejected an unsolicited acquisition proposal from Chubb Limited dated March 11, 2021. After consulting with financial and legal advisors, the board concluded that pursuing this strategic transaction would not benefit the company or its shareholders. The Hartford remains committed to executing its strategic business plan and enhancing shareholder value.
The Hartford (NYSE: HIG) confirmed receiving an unsolicited, non-binding acquisition proposal from Chubb Limited (NYSE: CB). The Board of Directors is evaluating the offer with financial and legal advisors, emphasizing their commitment to shareholder interests.
The Hartford is a prominent player in property and casualty insurance, with a history spanning over 200 years, known for its service excellence and sustainability practices.
The Hartford has declared a dividend of $375 for each Series G preferred stock, translating to $0.375 per depository share. This dividend is payable on May 17 to shareholders on record by the close of business on May 1. This announcement reflects the company's commitment to returning value to its investors while maintaining a strong financial performance, underscoring its position as a leader in property and casualty insurance and group benefits.
The Hartford reported strong core earnings of $2.1 billion ($5.78/share) for 2020, a 1% increase over 2019, despite challenges from COVID-19 and other adversities. Fourth quarter net income was $532 million ($1.47/share), a 2% decrease year-over-year, impacted by excess mortality costs and asbestos reserve charges. The P&C business showed improved underwriting margins due to higher pricing and operating efficiencies. Book value per diluted share rose 15% to $50.39. 2021 outlook includes a combined ratio target of 93.5-95.5 for Commercial Lines, emphasizing continued operational discipline.
Sixth Street has announced a definitive agreement to acquire Talcott Resolution Life Insurance Company from a consortium of investors, including Cornell Capital, Atlas Merchant Capital, and others. The acquisition is part of Sixth Street's strategy to expand its footprint in the insurance sector, reinforcing Talcott's potential as a consolidation platform in the U.S. life and annuity market. The transaction, expected to close in Q2 2021, follows Talcott's successful growth since its independence from The Hartford in 2018, managing over $90 billion in liabilities for around 900,000 customers.
On January 20, 2021, Sixth Street announced a definitive agreement to acquire Talcott Resolution Life Insurance Company from a consortium of investors led by Cornell Capital and others. Talcott manages over $90 billion in liabilities and serves approximately 900,000 customers, focusing on risk management solutions. The acquisition, expected to close in Q2 2021, highlights Talcott's growth since its independence in 2018. CEO Pete Sannizzaro will continue leading the company post-acquisition, leveraging Sixth Street's long-term capital for further expansion.
The Hartford's Board of Directors has approved a significant $1.5 billion share repurchase program effective from January 1, 2021, to December 31, 2022. This initiative aims to enhance shareholder value and reflects the company's strong capital position. The repurchase will include common stock and convertible securities, with purchases possibly executed via open market transactions or privately negotiated deals. Future buybacks will be strategically timed based on the company’s market conditions and capital strength, allowing flexibility in response to financial dynamics.
