The Hartford Announces Leadership Successions

Rhea-AI Summary

The Hartford has announced key leadership successions: Michael Fish will become head of Group Benefits, succeeding Jonathan Bennett, who retires at the end of 2024 after 25 years with the company. Fish, currently COO for Group Benefits, will report to Chairman and CEO Christopher Swift. Additionally, H. Clay Bassett Jr. will succeed M. Ross Fisher as global chief underwriting officer and head of reinsurance. Bassett, deputy global chief underwriting officer and head of Navigators Reinsurance, will report to CFO Beth Costello. Both transitions will be completed by October 1, 2024. These appointments reflect The Hartford's emphasis on internal talent development and succession planning.

Positive

• Michael Fish's extensive experience and previous roles within The Hartford position him well to lead Group Benefits.
• H. Clay Bassett Jr.'s extensive underwriting background is expected to enhance The Hartford's reinsurance and underwriting operations.
• The leadership transitions emphasize internal talent development and a seamless continuation of strategic plans.

Negative

• Upcoming retirements of key leaders, Jonathan Bennett and M. Ross Fisher, may lead to transitional challenges.

Company names Michael Fish head of Group Benefits and H. Clay Bassett Jr. global chief underwriting officer and head of reinsurance

HARTFORD, Conn.--(BUSINESS WIRE)-- The Hartford appointed Michael Fish head of Group Benefits succeeding Jonathan Bennett, who will retire at the end of 2024 after 25 years with the company. Fish, who is currently chief operating officer for Group Benefits, will report directly to The Hartford’s Chairman and CEO Christopher Swift.

Michael Fish (Photo: Business Wire)

In addition, H. Clay Bassett Jr. was named global chief underwriting officer and head of reinsurance, succeeding M. Ross Fisher, who will retire at the end of 2024 after more than two decades with the company. Bassett, who is currently deputy global chief underwriting officer and head of Navigators Reinsurance, a brand of The Hartford, will report to The Hartford’s Chief Financial Officer Beth Costello. Fish and Bassett will complete the transition to their new roles by Oct. 1.

“Mike and Clay are a testament to the exceptional bench of leadership talent at The Hartford,” said Swift. “These moves validate our unwavering focus on talent development and disciplined approach to succession planning. Promoting strong, experienced internal leaders allows us to seamlessly continue with our strategic plans and positions us well for future growth.”

Fish joined The Hartford in 2004 and previously served as head of Group Benefits Product and Strategy. He also led the Group Benefits underwriting organization and was responsible for the integration following The Hartford’s 2017 acquisition of Aetna’s U.S. Group Life and Disability business. Prior to joining The Hartford, Fish worked for Unum Group in various leadership positions.

Bassett joined The Hartford in May 2019 with the company’s acquisition of The Navigators Group, Inc. where he was chief underwriting officer since joining that organization in 2008. Prior to that, Bassett served as chief underwriting officer for Folksamerica Reinsurance Company and held various underwriting management positions with Swiss Re, AIG and National Reinsurance Corporation.

Swift added, “I also want to celebrate and recognize the tremendous contributions that both Jonathan and Ross have made in various leadership roles throughout their storied careers at The Hartford. In addition to Group Benefits, Jonathan has held senior positions in Personal Lines, Small Commercial, finance, corporate strategy and digital commerce. He is regarded as an influential and visionary leader who has helped mentor and develop talent across the enterprise. Ross has elevated underwriting across The Hartford and has been at the forefront of aligning the company’s underwriting discipline with its sustainability strategy. He also has been instrumental in using data-driven solutions to help the company broaden and deepen its risk appetite. In addition, he oversaw the integration following The Hartford’s acquisition of Navigators. Both leaders leave a strong legacy for the company to build on.”

About The Hartford

The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com.

The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford’s legal notice.

HIG-C

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2023 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

From time to time, The Hartford may use its website and/or social media channels to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at https://ir.thehartford.com.

© 2023 by The Hartford. Classification: Highly Restricted for use by authorized individuals only. No part of this document may be reproduced, published, or used without the permission of The Hartford.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240709456208/en/

Media Contacts:

Michelle Loxton

860-547-7413

michelle.loxton@thehartford.com



Matthew Sturdevant

860-547-8664

matthew.sturdevant@thehartford.com

Investor Contact:

Susan Spivak Bernstein

860-547-6233

susan.spivak@thehartford.com

Source: The Hartford

FAQ

Who is the new head of Group Benefits at The Hartford?

Michael Fish will become the new head of Group Benefits at The Hartford, succeeding Jonathan Bennett.

When will the leadership transitions at The Hartford be completed?

The leadership transitions at The Hartford will be completed by October 1, 2024.

Who will be the new global chief underwriting officer at The Hartford?

H. Clay Bassett Jr. will be the new global chief underwriting officer and head of reinsurance at The Hartford.

What roles did Michael Fish previously hold at The Hartford?

Michael Fish previously served as COO for Group Benefits and head of Group Benefits Product and Strategy at The Hartford.

What is the impact of Jonathan Bennett's retirement from The Hartford?

Jonathan Bennett's retirement marks the end of a 25-year career at The Hartford. His departure may pose transitional challenges.

Which company did H. Clay Bassett Jr. join The Hartford from?

H. Clay Bassett Jr. joined The Hartford from The Navigators Group, which was acquired by The Hartford in 2019.