The Hartford Insurance Group Inc - HIG STOCK NEWS

The Hartford's Board of Directors has declared a dividend of $0.425 per share on common stock, payable on April 4 to shareholders of record by the close of business on March 6. Additionally, a dividend of $375 will be distributed per Series G preferred stock share, equivalent to $0.375 per depository share, payable on May 15 to Series G shareholders of record by the close of business on May 1. The Hartford, a leader in property and casualty insurance and mutual funds, underscores its commitment to shareholders and financial performance.

The Hartford reported a fourth quarter 2022 net income of $584 million ($1.81 per diluted share), down 19% from $724 million in Q4 2021. However, core earnings rose 7% to $746 million ($2.31 per diluted share). For the full year, net income totaled $1.8 billion ($5.44 per diluted share), and core earnings increased by 14% to $2.5 billion ($7.56 per diluted share). Property & Casualty written premiums grew 8% in Q4 and 9% annually, driven by commercial lines. Shareholders received $2.1 billion in returns through repurchases and dividends. The company's return on equity was 11.6%, and core earnings ROE was 14.4%. Strong investment income contributed positively, despite net realized losses impacting overall income.

The Hartford has appointed Hank Dominioni as head of sales and underwriting for its Northeast Division, overseeing commercial operations across seven states from Maine to New York. Dominioni, with over 20 years at The Hartford, aims to drive profitable growth and strengthen partnerships with independent agents and brokers. His new role is expected to enhance the company's market position in the Northeast.

Gretchen Thompson, head of Field Operations, praised Dominioni for his proven track record in developing talent and fostering relationships with distribution partners, indicating that his leadership will contribute to continued success in the division.

The Hartford’s Board of Directors has declared a dividend of $375 on each of the Series G preferred stock, translating to $0.375 per depository share. This dividend will be payable on February 15, 2023, to shareholders of record as of the close of business on February 1, 2023. The Hartford, renowned for its property and casualty insurance, has over 200 years of expertise, emphasizing sustainability and trust in its operations.

The Hartford has appointed Tracey Ant as head of Middle & Large Commercial Business Units, effective January 1. Ant will oversee the underwriting across various industries, reporting to Mo Tooker. With over 25 years of experience, Ant has held significant roles in the insurance sector. Additionally, Gretchen Thompson will assume Ant’s previous responsibilities, and Stephen Screen becomes the new head of Enterprise Sales & Distribution. These leadership changes aim to enhance the company’s strategies for growth and agent relationships.

The Hartford (NYSE: HIG) reported a net income of $333 million ($1.02 per diluted share) for Q3 2022, down 30% from $476 million in 2021. Core earnings rose by 7% to $471 million ($1.44 per diluted share). Written premiums in Property & Casualty increased by 9%, largely due to a 10% rise in Commercial Lines. Notably, the company faced $293 million in CAY catastrophe losses, predominantly from Hurricane Ian. The quarterly common dividend was increased by 10%, amounting to $0.425 per share, payable on January 4, 2023. ROE for net income was reported at 12.8% and 14.3% for core earnings.