The Hartford Insurance Group Inc Stock Price, News & Analysis

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.

New research from The Hartford reveals that 61% of U.S. workers experience high levels of burnout, unchanged since 2021. 43% have postponed routine health care since the start of the COVID-19 pandemic, impacting their overall health and productivity. Key reasons for delays include fear of COVID-19 (47%) and difficulty scheduling appointments. Recommendations for improving health include prioritizing routine visits, utilizing telehealth, and employer support in health care access.

The Hartford reported fourth quarter 2021 net income of $724 million ($2.10 per diluted share), up 36% year-over-year, while full-year net income reached $2.3 billion ($6.62 per diluted share), a 37% increase. Core earnings for Q4 were $697 million ($2.02 per diluted share), marking a 10% rise. Property and Casualty (P&C) net premiums rose 11% in Q4, with a combined ratio improvement of 7.2 points to 84.6. The company returned $620 million to shareholders through share repurchases and dividends in Q4, achieving a trailing 12-month return on equity (ROE) of 13.1%.