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

The Hartford has launched a new critical illness insurance product that covers more health conditions and offers partial benefits for less severe cases. This initiative addresses the increasing demand for employee benefits, especially in light of the pandemic. According to a recent study, 29% of employers added critical illness insurance due to COVID-19. The new policy includes coverage for infectious diseases, mental health, and more, offering flexible plans and various benefit options. This aims to help employers attract talent and provide financial safety nets for employees facing unexpected health issues.

AM Best has assigned indicative Long-Term Issue Credit Ratings of “a-” (Excellent) for senior unsecured issues, “bbb+” (Good) for senior subordinated issues, and “bbb” (Good) for junior subordinated and preferred stock to The Hartford Financial Services Group’s (HIG) newly filed shelf registration. The outlook for these ratings is stable. The Hartford’s adjusted financial leverage stood at 20.3% at year-end 2021, aligned with targets, and saw favorable net operating earnings despite impacts from COVID-19 in its Group Benefits segment.

The Hartford's Board of Directors declared a dividend of $0.385 per share on common stock, payable April 4 to shareholders of record as of March 1. Additionally, a dividend of $375 on Series G preferred stock (equivalent to $0.375 per depository share) will be payable on May 16 to record shareholders by May 2. The Hartford is recognized for its leadership in property and casualty insurance and has over 200 years of experience in the industry.

New research from The Hartford reveals that 61% of U.S. workers experience high levels of burnout, unchanged since 2021. 43% have postponed routine health care since the start of the COVID-19 pandemic, impacting their overall health and productivity. Key reasons for delays include fear of COVID-19 (47%) and difficulty scheduling appointments. Recommendations for improving health include prioritizing routine visits, utilizing telehealth, and employer support in health care access.

The Hartford reported fourth quarter 2021 net income of $724 million ($2.10 per diluted share), up 36% year-over-year, while full-year net income reached $2.3 billion ($6.62 per diluted share), a 37% increase. Core earnings for Q4 were $697 million ($2.02 per diluted share), marking a 10% rise. Property and Casualty (P&C) net premiums rose 11% in Q4, with a combined ratio improvement of 7.2 points to 84.6. The company returned $620 million to shareholders through share repurchases and dividends in Q4, achieving a trailing 12-month return on equity (ROE) of 13.1%.

The Hartford's Board of Directors has declared a dividend of $0.375 per depository share on its Series G preferred stock, payable on February 15, 2022. Shareholders of record as of February 1, 2022 will be eligible to receive this dividend. The Hartford is recognized for its leadership in property and casualty insurance, along with group benefits and mutual funds.

For further information about the company’s performance and offerings, visit The Hartford's website.

The Hartford has announced its commitment to invest $2.5 billion over the next five years to advance energy transition and combat climate change. The company has become a signatory of the UN Global Compact, joining global organizations to implement sustainability principles. Additionally, it plans to exit all tar-sands investments by December 31, 2021, and complete its exit from coal investments by the end of 2023. The Hartford achieved 100% renewable energy usage for its facilities in 2020 and aims to reduce greenhouse gas emissions by at least 46.2% by 2037.