The Hartford Insurance Group Inc Stock Price, News & Analysis

The Hartford's Board of Directors has declared a $0.385 dividend per share for common stock, payable on July 5 to shareholders on record as of June 1. Additionally, a dividend of $375 on each Series G preferred stock (equivalent to $0.375 per depository share) will be paid on August 15 for shareholders on record as of August 1. Known for leadership in property and casualty insurance, The Hartford emphasizes service excellence and sustainability.

In Q1 2022, The Hartford (HIG) reported a net income of $440 million ($1.30 per diluted share), an 80% increase from the previous year. Core earnings reached $561 million ($1.66 per diluted share), up 176%. The Property & Casualty (P&C) segment saw a 9% rise in written premiums, driven by a 12% growth in Commercial Lines. The company returned $530 million to shareholders, including $400 million in share repurchases. ROE for net income and core earnings stood at 15.4% and 14.8%, respectively, reflecting strong profitability and strategic growth.

The Hartford collaborates with Earthwatch and the Asylum Hill Neighborhood Association to gather data on pollinator populations in Hartford. This citizen-science project aims to understand the impact of climate change on pollinators, which are crucial for biodiversity and food production. Employees will work alongside residents to document pollinators via the iNaturalist app. This initiative is part of The Hartford's larger commitment to sustainability and community support, which includes a $10 million investment in local priorities and a $1 million grant for housing initiatives.

The Hartford announced its goal to achieve net zero Greenhouse Gas Emissions (GHGe) by 2050, aligning with the Paris Climate Accord. This initiative complements existing targets such as operating with 100% renewable energy by 2030 and reducing GHGe by at least 2.1% annually to reach a 46.2% reduction by 2037. CEO Christopher Swift emphasized the importance of establishing metrics to track progress and stakeholder engagement as the company navigates the complexities of the insurance industry while prioritizing shareholder value.

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.