The Hartford Insurance Group Inc - HIG STOCK NEWS

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.

The Hartford has partnered with the Yale Program in Addiction Medicine to create a training program aimed at improving addiction treatment and pain management for injured workers in Connecticut. This initiative addresses the urgent opioid crisis, which saw record overdose deaths in the state. The pilot program will develop training modules and clinically relevant resources for medical professionals, focused on person-centered approaches and the reduction of stigma surrounding addiction. The training will be rolled out to 50-100 clinicians in early 2022, with updates based on feedback planned for Q3 2022.

The Hartford reported a net income of $476 million or $1.36 per diluted share for Q3 2021, marking a 5% increase from Q3 2020. However, core earnings dropped 16% to $442 million due to excess mortality losses of $212 million and unfavorable prior accident year reserve development. The Commercial Lines combined ratio improved to 101.2 with 15% growth in written premiums. The Hartford returned $634 million to shareholders, including a 10% increase in quarterly dividends. Book value per diluted share rose 4% to $50.53.

The Hartford has been recognized as the top provider for digital capabilities in the Small Commercial Insurance sector for the third consecutive year, according to Keynova Group’s Scorecard. The company significantly outperformed competitors in areas like digital self-service, claims processing, and online quoting for small business insurance. With over 200 years in the industry, The Hartford has established a strong market position, serving over one million small business customers.

The Hartford has appointed Michael Garrison as head of Wholesale for Navigators effective November 1. Garrison will focus on strategic growth, underwriting, and managing wholesale distribution relationships. He brings over 28 years of insurance experience, having worked globally in locations such as New York, Singapore, and London. Previously, he served as president at Allied World, overseeing Global Construction and international lines, and held senior positions at Starr Companies. This leadership move aims to strengthen The Hartford's commitment to providing solutions for complex risks.

The Hartford's Junior Fire Marshal Day on October 5 saw over 65,000 children across 200+ cities participate in a virtual fire safety education event. This initiative, which began in 1947, has educated over 111 million children on fire safety. The event featured lessons on fire prevention and culminated in students becoming Junior Fire Marshals. The Hartford continues to support local fire departments and aims to educate an additional 1.5 million children, donating over $1.5 million to at-risk communities.