The Hartford Insurance Group Inc Stock Price, News & Analysis

The Hartford announced a significant organizational restructuring of its Technology and Operations functions. Shekar Pannala has been appointed as chief information officer, leading Technology, cyber security, infrastructure and cloud modernization. Jeffery Hawkins has been named chief data, AI and operations officer, expanding his role to include Operations alongside his existing oversight of data, analytics and AI.

Both executives will report directly to Chairman and CEO Christopher Swift, effective immediately. This restructuring follows the resignation of Deepa Soni, former chief information and operations officer. Pannala brings 30 years of experience, including roles as global CIO at Chubb and CTO at S&P Global. Hawkins has over 25 years of experience, previously serving as CIO at CVS Health and holding senior leadership positions at Humana.

The Hartford has achieved a significant milestone by being named one of the World's Most Ethical Companies® for the 16th time by Ethisphere, a global leader in ethical business practices standards. This recognition highlights the company's commitment to maintaining high standards of business conduct.

The company's ethical foundation is built on robust ethics, governance and compliance programs, with a focus on leadership accountability and continuous employee education. The Hartford conducts annual Ethics and Compliance week activities and provides year-round training on appropriate business conduct.

In 2025, The Hartford joins an elite group of 136 honorees across 19 countries and 44 industries. The evaluation process assessed five key categories: ethics and compliance practices, governance, ethical culture, sustainability, and value chain initiatives.

The Hartford's Board of Directors has announced two dividend declarations: $0.52 per share of common stock and $375 per share of Series G preferred stock. The common stock dividend will be paid on April 2 to shareholders of record as of March 3. For Series G preferred stockholders, the dividend (equivalent to $0.375 per depository share) will be distributed on May 15 to shareholders of record as of May 1.

BrokerTech Ventures (BTV) has announced a strategic partnership with The Hartford, expanding its carrier network. The Hartford, a leader in property and casualty, group benefits, and mutual funds, joins BTV's ecosystem to drive insurance innovation. Matt Scott, head of Commercial Lines Innovation at The Hartford, emphasized their commitment to developing transformative solutions.

BTV's network now includes 13 broker partners, 12 carrier and wholesaler partners, and a startup portfolio of nearly 60 companies with total investments of nearly $3M. The platform has achieved a 95% continued operating success rate among startups, with total valuations approaching $1.1 billion. BTV startups have collectively raised over $280M and executed nearly 1,000 proof-of-concepts.

The Hartford has unveiled a modernized brand identity, featuring a refreshed stag logo that combines historical elements with a contemporary design. The rebranding includes new core colors - black, claret, and fuchsia - and will be rolled out across TV, digital platforms, and the company's website.

As part of this initiative, the company is increasing its annual philanthropy spending by over 30%, focusing on supporting small businesses and addressing mental health in the workplace. The Hartford is expanding its Small Business Accelerator pilot with Main Street America to develop commercial spaces in 15 communities, benefiting 1,500 small businesses.

The company has also announced corporate structure changes, including updating its holding company name to The Hartford Insurance Group, Inc. Business segments will be renamed: Commercial Lines to Business Insurance, Personal Lines to Personal Insurance, and Group Benefits to Employee Benefits. The NYSE ticker symbol (HIG) remains unchanged.

The Hartford (HIG) reported strong financial results for Q4 and full year 2024. Q4 net income reached $848 million ($2.88 per share), up 11% from 2023, while core earnings were $865 million ($2.94 per share), down 7%. Full-year net income increased 24% to $3.1 billion ($10.35 per share).

Key highlights include:

• Property & Casualty written premiums grew 7% in Q4 and 10% for the full year
• Commercial Lines achieved a combined ratio of 87.4 in Q4
• Personal Lines improved significantly with Q4 combined ratio of 85.8
• Group Benefits maintained strong performance with Q4 core earnings margin of 7.8%
• Returned $2.1 billion to stockholders in 2024 through share repurchases ($1.5B) and dividends ($556M)

The company demonstrated robust performance with a full-year net income ROE of 19.9% and core earnings ROE of 16.7%, positioning itself for continued growth in 2025.

The Hartford has appointed A. Morris 'Mo' Tooker as company president, effective Feb. 1, 2025. In his expanded role, Tooker will oversee all property-and-casualty businesses, adding Personal Lines to his current responsibilities which include Small Commercial, Middle & Large Commercial, Global Specialty, Enterprise Sales & Distribution, and Risk Services.

Tooker, who joined the company in 2015 as chief underwriting officer, will continue reporting to Chairman and CEO Christopher Swift. During his nine-year tenure, he has advanced the company's underwriting capabilities while driving growth and fostering innovation. Before joining The Hartford, he served as president of General Reinsurance , managing their global property and casualty reinsurance business.

The Hartford has appointed Annette Rippert to its board of directors, effective Feb. 18, 2025. Rippert will serve on the board's Finance, Investment and Risk Management Committee. She recently retired as CEO of Accenture's Strategy and Consulting group, where she managed a $15 billion portfolio and drove growth through technology, data, and AI initiatives.

During her tenure at Accenture, Rippert led strategic acquisitions and human capital management strategies. Her previous roles included leading North America Technology business and serving as Technology and Innovation Lead for Accenture Federal Services. She holds degrees in electrical engineering, computer science, and management from Northwestern University, where she currently serves as a board trustee.

The Hartford's Board of Directors has announced a quarterly dividend declaration for Series G preferred stock shareholders. The dividend is set at $375 per share (equivalent to $0.375 per depository share) and will be payable on February 18, 2025. Shareholders must be on record by the close of business on February 1, 2025 to receive this dividend payment.