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

The Hartford's fifth annual Future of Benefits Study highlights generational differences in workplace perspectives, with Gen Z facing higher burnout and mental health challenges but valuing coworker connections and being financially optimistic.

Key findings: 3-in-5 U.S. workers report burnout; Gen Z (32%) most affected. 29% of workers feel depressed/anxious weekly, with Gen Z facing more stigma in seeking mental health care. Gen Z's productivity is more impacted by financial, mental, and physical health issues. Strong coworker connections are important to 75% of Gen Z. 53% of Gen Z believe their financial situation will improve next year.

Employers face increased responsibilities and technology adaptation, with 62% acknowledging this. Employee benefits remain valued, but 73% of employers note underutilization. 50% of workers need better benefit understanding resources. Paid leave is expanding, yet 34% of workers fear workplace repercussions, highest among Gen Z (49%).

The Hartford has appointed Kathleen Winters to its board of directors, effective July 1, 2024. She will join the Finance, Investment and Risk Management Committee and the Audit Committee.

Edmund Reese, recently named chief financial officer of Aon, resigned from the board effective May 31, 2024. Winters, a former CFO at ADP and MSCI, brings extensive financial expertise and leadership experience, having overseen global finance organizations and driven transformational changes.

She currently serves on the boards of Global Business Travel Group and Definitive Healthcare Corp. Winters holds a bachelor’s degree in accounting from Boston College.

The Hartford has announced quarterly dividends of $0.47 per share for its common stock, to be paid on July 2 to shareholders of record as of June 3. Additionally, a dividend of $375 per share (equivalent to $0.375 per depository share) for Series G preferred stock will be paid on August 15 to shareholders of record as of August 1. This marks a continued commitment from the company to return value to its shareholders through consistent dividend payments.

The Hartford will host a virtual annual meeting of shareholders on May 15 at 12:30 p.m. EDT. Shareholders can attend, vote, and submit questions online, with access details provided in the press release. The meeting's replay will be available for 30 days. Stay informed by visiting the company's investor relations section.

The Hartford reported strong first quarter 2024 financial performance with a net income of $748 million, a 41% increase from the same period in 2023. Core earnings were $709 million, up 32%. Property & Casualty written premiums rose by 9%, with Commercial Lines and Personal Lines seeing premium growth of 8% and 13% respectively. The company returned $491 million to stockholders in the quarter through share repurchases and dividends.

The press release highlights the increasing risks posed by more frequent and extreme weather events to employee health and business performance. The newly formed National Commission on Climate and Workforce Health emphasizes the need to enhance people, business, and economic resilience. CEOs recognize extreme weather as a critical threat, but only 17% have invested in strategies to protect employees. Exposure to extreme heat, poor air quality, and unprecedented weather events impacts physical and mental health, leading to significant productivity loss. The Commission aims to quantify health care cost implications, recommend risk-mitigating actions, and identify innovative solutions for employee protection.

The Hartford appoints Matthew Massaro as head of sales and underwriting for its Middle and Large Commercial Businesses’ Northeast Division. Massaro will lead operations for independent agents, brokers, and customers across seven Northeastern states. His extensive experience and track record position the company for continued success.

The Hartford has been named one of the World’s Most Ethical Companies® for the 15th time by Ethisphere. The company's culture of integrity, strong ethics, and compliance programs have earned them this recognition. The evaluation process covers key categories like culture of ethics, compliance, diversity, value chain support, and environmental practices.

The Hartford appoints Deepa Soni as chief information officer and head of Technology, Data, Analytics & Cyber, merging Operations and Technology functions to drive strategic growth.