The Hartford Insurance Group Inc Stock Price, News & Analysis

The Hartford has declared a dividend of $0.35 per share of common stock, payable on July 2, 2021 for shareholders on record as of June 1, 2021. Additionally, a dividend of $375 on each Series G preferred stock (equivalent to $0.375 per depository share) will be paid on August 16, 2021 to Series G shareholders recorded by August 1, 2021. This reflects The Hartford's commitment to returning value to its shareholders while maintaining a strong market position.

The Hartford published findings from its 2021 Future of Benefits Study, revealing a significant stigma about taking leave among U.S. workers. 31% fear workplace repercussions, with 29% perceiving a negative stigma. Younger generations feel this more acutely; 50% of Gen Z and younger Millennials express fear compared to 16% of Baby Boomers. Despite this, 75% of employers expanded benefits related to paid time off. The study also shows a positive shift in employee attitudes towards benefits, with 84% valuing their insurance more than before the pandemic.

The Hartford is investing $2 million over two years to support Move United, a leader in adaptive sports, to launch The Hartford’s Competition Series and a digital fitness platform. The funding will enhance access to adaptive sports for over 600 participants across two major events in 2021 and contribute to a digital platform offering various online adaptive sports classes. The Hartford has a long history of advocating for adaptive sports, impacting over 21,000 people and donating more than 2,800 pieces of adaptive equipment since 2019.

The Hartford reported Q1 2021 net income of $244 million ($0.67 per share), down 9% year-over-year, largely due to $650 million BSA settlement and COVID-19-related losses. Core earnings fell 58% to $203 million ($0.56 per share). Despite this, the underlying performance remained robust, with an improved Commercial Lines combined ratio of 91.2%. Net investment income increased by 11% to $509 million, supported by a 21.1% return on partnerships. The company announced a $2.5 billion share repurchase plan to enhance shareholder value.

The Hartford (NYSE: HIG) has reached a $650 million settlement with the Boy Scouts of America, primarily for sexual abuse claims tied to policies from the 1970s. This agreement, part of BSA's Chapter 11 bankruptcy proceedings, aims to release The Hartford from obligations under the affected policies. The company anticipates court approval by Q3 2021, depending on various conditions. Additionally, The Hartford projects prior year development losses of approximately $225 million and current catastrophe losses of about $214 million for Q1 2021.

The Hartford (NYSE: HIG) has announced that its board of directors has unanimously rejected an unsolicited acquisition proposal from Chubb Limited dated March 11, 2021. After consulting with financial and legal advisors, the board concluded that pursuing this strategic transaction would not benefit the company or its shareholders. The Hartford remains committed to executing its strategic business plan and enhancing shareholder value.

The Hartford (NYSE: HIG) confirmed receiving an unsolicited, non-binding acquisition proposal from Chubb Limited (NYSE: CB). The Board of Directors is evaluating the offer with financial and legal advisors, emphasizing their commitment to shareholder interests.

The Hartford is a prominent player in property and casualty insurance, with a history spanning over 200 years, known for its service excellence and sustainability practices.

The Hartford has declared a dividend of $375 for each Series G preferred stock, translating to $0.375 per depository share. This dividend is payable on May 17 to shareholders on record by the close of business on May 1. This announcement reflects the company's commitment to returning value to its investors while maintaining a strong financial performance, underscoring its position as a leader in property and casualty insurance and group benefits.

The Hartford reported strong core earnings of $2.1 billion ($5.78/share) for 2020, a 1% increase over 2019, despite challenges from COVID-19 and other adversities. Fourth quarter net income was $532 million ($1.47/share), a 2% decrease year-over-year, impacted by excess mortality costs and asbestos reserve charges. The P&C business showed improved underwriting margins due to higher pricing and operating efficiencies. Book value per diluted share rose 15% to $50.39. 2021 outlook includes a combined ratio target of 93.5-95.5 for Commercial Lines, emphasizing continued operational discipline.