Welcome to our dedicated page for The Hartford Insurance Group news (Ticker: HIG), a resource for investors and traders seeking the latest updates and insights on The Hartford Insurance Group stock.
The Hartford Insurance Group, Inc. (NYSE: HIG), operating under the brand name The Hartford, regularly issues news on its property and casualty insurance, employee benefits and mutual funds businesses. Company updates cover financial performance, product developments, technology investments, civic engagement and board-level actions such as dividend declarations, giving investors and policyholders insight into how the enterprise is evolving.
Recent news releases highlight quarterly and annual financial results for The Hartford’s segments, including Business Insurance, Personal Insurance, Employee Benefits and Hartford Funds. These announcements discuss measures such as net income, core earnings, written premiums, combined ratios, catastrophe losses and investment income, and are often accompanied by Investor Financial Supplements referenced in Form 8-K filings.
The Hartford also publishes news about its small-business and cyber insurance offerings. For example, the company has announced the availability of its CyberChoice First Response℠ product for small businesses through its ICON digital platform, allowing agents and brokers to quote and bind cyber coverage alongside the Spectrum Business Owner’s Policy. Other releases share findings from The Hartford’s Future of Benefits Study, which examines financial stress, benefits usage and attitudes toward artificial intelligence among U.S. workers and employers.
Technology and operations updates are another recurring theme. The Hartford has reported on the opening of a new technology hub in Columbus, Ohio, complementing existing technology centers in Hartford, Chicago, Charlotte and Hyderabad. These hubs focus on AI, cloud architecture and technology transformation to support innovation in insurance products and services.
In addition, The Hartford issues news about dividends on its common and preferred stock, philanthropic stock donations to charitable affiliates and community initiatives in its home city of Hartford. Visitors to this HIG news page can review a chronological feed of such announcements to understand the company’s financial trends, strategic priorities and role in the insurance and financial services landscape.
The Hartford has appointed Tony Paschali as head of the Southeast Division for its Middle and Large Commercial Insurance business. He will oversee sales and underwriting operations across 12 Southeastern states, reporting to Tracey Ant. Paschali has over 18 years of experience at The Hartford, most recently serving as regional vice president in Atlanta. His leadership aims to enhance relationships and expand business results in the region.
The Hartford announced executive changes effective August 2, with Deepa Soni becoming the new head of Technology, Data, Analytics & Information Security, and John Kinney taking on expanded responsibilities in Operations alongside Claims. Soni, who joined in 2019, has significantly improved technology capabilities, while Kinney, with The Hartford since 2003, will enhance customer experience. Mary Nasenbenny will succeed Kinney as chief claims officer. These changes aim to bolster The Hartford's commitment to innovation and operational efficiency.
The Hartford has appointed Gretchen Thompson as head of Construction, Inland Marine, Excess Solutions, and Complex Liability Solutions within its Middle & Large Commercial business unit. Thompson succeeds Adrien Robinson and will report to A. Morris “Mo” Tooker. With extensive experience since joining The Hartford in 2005, she has been pivotal in driving growth in the Western Division. Thompson, recognized on the Business Insurance Women to Watch list in 2016, has a finance background from General Electric and a degree from Boston College.
The Hartford has appointed Adrien Robinson as head of Global Specialty, succeeding Vincent Tizzio, who is leaving the company. Robinson, with over 20 years of insurance experience, previously led Complex Casualty, Construction, and Marine divisions at The Hartford. Under Tizzio's leadership, Global Specialty has seen strong results since its establishment in 2019. Robinson's technical expertise includes a law degree in environmental and energy law and a background in environmental engineering.
The Hartford has expanded its group life and disability offerings through ProtectPro, targeting medical professionals with flexible plan designs and new coverage options. This includes specialty coverage for non-physician providers, a student loan credit benefit for those partially returning to work during long-term disability, and a medical premium supplement for COBRA expenses. Recognizing the projected growth in employment for non-physician roles, these enhancements aim to assist medical practices in attracting and retaining talent.
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.
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