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    Hartford Insurance Group Inc (HIG)

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    Business Description

    The Hartford Financial Services Group, Inc. (HIG) is a diversified insurance and investment company operating primarily in five reporting segments: Commercial Lines, Personal Lines, Property & Casualty Other Operations, Group Benefits, and Hartford Funds, along with a Corporate category . The company offers a range of insurance products, including workers' compensation, property, automobile, general liability, and professional liability, primarily targeting small businesses, middle market companies, and national accounts . Additionally, Hartford provides group life, accident, and disability coverage, investment management services, and products like mutual funds and ETFs .

    1. Commercial Lines - Offers insurance products such as workers' compensation, property, automobile, general liability, and professional liability, primarily targeting small businesses, middle market companies, and national accounts.
    2. Group Benefits - Provides group life, accident, and disability coverage, along with other products like voluntary benefits and group retiree health.
    3. Personal Lines - Provides automobile, homeowners, and personal umbrella coverages, with a significant portion of business coming from a program designed for AARP members.
    4. Hartford Funds - Offers investment management services and products, including mutual funds and ETFs.
    5. Property & Casualty Other Operations - Encompasses various other insurance-related activities not included in the main segments.

    Key Metrics

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    Revenue by Segment - in Millions of USDFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Commercial Lines3,04811,6823,0593,1323,2603,31312,7643,335
    - Workers' Compensation-3,6709179269339153,691918
    - Liability-1,9775265405755772,218584
    - Marine-2566767717327869
    - Package Business-2,0765495725936172,331619
    - Property-1,0532903063253371,258339
    - Professional Liability-787203200209212824206
    - Bond-3217880828732785
    - Assumed Reinsurance-615181180194203758220
    - Automobile-2,156572598621-7121,079295
    Personal Lines8123,1178218578939153,486907
    - Homeowners-9612492592722811,061283
    Group Benefits1,6476,5151,6391,6651,6551,6566,6151,668
    - Group Disability-3,5308908958899023,576900
    - Group Life-2,583645663659652,617650
    - Other-402104107107104422118
    Hartford Funds249732502532632691,035260
    - Mutual Fund and ETF-90023123524425960242
    - Third-party Life & Annuity-73191819197518
    Corporate939101010-28211
    Net Investment Income--5936026597142,568656
    Net Realized Gains (Losses)--28-59-13-17-61-49
    Other Revenues--192624--22
    Total Revenue6,424,5276,4196,4866,7516,87926,5356,810
    Revenue by Geography - in Millions of USDFY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    United States of America--------
    Japan--------
    Other--------
    Total Revenue-24,5276,419-----
    KPIs - Metric (Unit, Scale)FY 2013Q1 2014Q2 2014Q3 2014Q4 2014FY 2014Q1 2015Q2 2015Q3 2015Q4 2015FY 2015Q1 2016Q2 2016Q3 2016Q4 2016FY 2016Q1 2017Q2 2017Q3 2017Q4 2017FY 2017Q1 2018Q2 2018Q3 2018Q4 2018FY 2018Q1 2019Q2 2019Q3 2019Q4 2019FY 2019Q1 2020Q2 2020Q3 2020Q4 2020FY 2020Q1 2021Q2 2021Q3 2021Q4 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Group Disability Loss Ratio (Excluding Buyouts) (percentage)-67.1%70.1%67.1%67.9%---
    Group Disability Loss Ratio (Excluding Buyouts) (%)--------
    Group Life Loss Ratio (Excluding Buyouts) (percentage)-83.5%82.6%74.9%77.5%---
    Group Life Loss Ratio (Excluding Buyouts) (%)--------
    Total Loss Ratio (Excluding Buyouts) (%)-71.873.568.970.2---
    Expense Ratio (Group Benefits Excluding Buyouts) (percentage)-24.3%25.4%24.4%25.3%---
    Expense Ratio (Group Benefits Excluding Buyouts) (%)--------
    Core Earnings Margin (Group Benefits) (%)--6.110.08.7---
    Commercial Lines Current Accident Year Loss and LAE Ratio Before Catastrophes (percentage)-56.556.656.157.3---
    Commercial Lines Current Accident Year Loss and LAE Ratio Before Catastrophes (%)--------
    Commercial Lines Current Accident Year Catastrophe Loss and LAE Ratio (percentage)--------
    Commercial Lines Prior Accident Year Development Ratio (%)--1.9------
    Commercial Lines Prior Accident Year Development (pts)--------
    Commercial Lines Prior Accident Year Development (USD, millions)--------
    Commercial Lines Total Loss and LAE Ratio (%)-82.258.358.476.8---
    Total Loss and LAE Ratio (percentage)--------
    Commercial Lines Expense Ratio (%, %)-31.031.531.130.9---
    Expense Ratio (%, percentage)--------
    Commercial Lines Expense Ratio (%)--------
    Commercial Lines Policyholder Dividend Ratio (%)-0.30.30.30.3---
    Combined Ratio (percentage)-107.590.1107.4102.5---
    Underlying Combined Ratio (percentage)-99.388.496.793.7---
    Commercial Lines Combined Ratio (%)--------
    Commercial Lines Underlying Combined Ratio (%)-87.888.487.488.6---
    Personal Lines Current Accident Year Loss and LAE Ratio Before Catastrophes (percentage)-74.170.770.368.0---
    Personal Lines Current Accident Year Catastrophe Loss and LAE Ratio (percentage)-7.86.410.610.4---
    Prior Accident Year Development (USD, millions)-11(7)(41)(14)---
    Personal Lines Prior Accident Year Development Ratio (percentage)--------
    Personal Lines Total Loss and LAE Ratio (%)-82.276.381.076.8---
    Personal Lines Total Loss and LAE Ratio (percentage)--------
    Personal Lines Expense Ratio (percentage)--------
    Personal Lines Combined Ratio (%)--------
    Automobile Combined Ratio (%)--------
    Homeowners Combined Ratio (%)--------
    Personal Lines Underlying Combined Ratio (%)-87.888.487.493.7---
    Personal Lines Underlying Combined Ratio (percentage)--------
    Net New Business Premium for Automobile (USD, millions)--728283---
    Net New Business Premium for Automobile (Personal Lines) (USD millions)--------
    Net New Business Premium for Homeowners (USD millions)--344760---
    Net New Business Premium for Homeowners (Personal Lines) (USD millions)--------
    Policy Count Retention for Automobile (Personal Lines) (%)-85%84%83%81%---
    Policy Count Retention for Automobile (Personal Lines) (percentage)--------
    Policy Count Retention for Homeowners (Personal Lines) (percentage)-84%84%84%83%---
    Policy Count Retention for Homeowners (percentage)--------
    Effective Policy Count Retention for Automobile (Personal Lines) (percentage)-84------
    Effective Policy Count Retention for Homeowners (Personal Lines) (percentage)-DecreasedDecreasedDecreasedStable---
    Effective Policy Count Retention for Homeowners (percentage)--------
    Renewal Written Price Increase for Automobile (Personal Lines) (percentage)-16.3%25.7%23.5%20.8%---
    Renewal Written Price Increase for Homeowners (Personal Lines) (percentage)-14.2%15.2%14.9%15.2%---
    Renewal Earned Price Increase for Automobile (Personal Lines) (percentage)-10.519.122.122.7---
    Renewal Earned Price Increase for Homeowners (Personal Lines) (percentage)-12.9%14.4%14.6%14.8%---
    Renewal Earned Price Increase for Homeowners (percentage)--------
    Daily Average Hartford Funds AUM (USD millions)-127,019131,648134,064137,888---
    Mutual Fund and ETF Assets Under Management (USD millions)-119,316123,559123,686130,366---
    Mutual Fund and ETF Assets Under Management - Beginning of Period (USD, millions)--------
    Mutual Fund and ETF Assets Under Management - End of Period (USD, millions)--------
    Net Flows - Mutual Fund and ETF (USD, millions)--------
    Change in Market Value and Other (USD, millions)--------
    Third-Party Life and Annuity Separate Account AUM (USD millions)-11,70912,08311,83212,073---
    Total Hartford Funds AUM-131,025135,642135,518142,439---
    Total Hartford Funds AUM (USD millions)--------
    Hartford Funds ROA (basis points annualized)-13.713.713.115.7---
    Hartford Funds ROA, core earnings (basis points annualized)--------
    Hartford Funds ROA (Core Earnings) (basis points annualized)-13.012.512.813.6---
    Hartford Funds ROA (Core Earnings) (bps annualized)--------

    Leadership

    NamePositionExternal RolesShort Bio

    Christopher J. Swift

    ExecutiveBoard

    Chairman and Chief Executive Officer

    Board Member at Citizens Financial Group, Inc.

    Joined HIG in 2010 as EVP and CFO, became CEO in 2014, and Chairman in 2015. Led strategic investments and capital management actions. CPA with over 30 years in financial services.

    		View Report →

    A. Morris Tooker

    Executive

    President

    N/A

    Joined HIG in 2015. Held several leadership roles, including Head of Middle & Large Commercial. Became President in 2025.

    Amy M. Stepnowski

    Executive

    Executive Vice President and Chief Investment Officer

    N/A

    Serving as EVP and CIO since 2020. President of Hartford Investment Management Company. Previously Head of Public Credit Research.

    Beth A. Costello

    Executive

    Executive Vice President and Chief Financial Officer

    N/A

    Serving as EVP and CFO since 2014. No additional roles or achievements detailed in the documents.

    Deepa Soni

    Executive

    Executive Vice President, Head of Technology, Data, Analytics & Information Security

    N/A

    Joined HIG in 2021. Focused on technology investments, digital adoption, and data analytics. Expanded cloud technology and Agile practices.

    Annette Rippert

    Board

    Director

    Member of the Northwestern University Board of Trustees

    Joined the board in 2025. Former CEO of Accenture's Strategy and Consulting group. Expertise in technology, data, and AI.

    Donna James

    Board

    Director

    President and CEO of Lardon & Associates, LLC; Board Member at Victoria's Secret and American Electric Power

    Director since 2021. Extensive insurance-industry experience and corporate governance expertise.

    Edmund Reese

    Board

    Director

    CFO at Broadridge Financial Solutions, Inc.

    Director since 2022. Extensive financial expertise and leadership experience. Former CFO at American Express.

    Kathleen Winters

    Board

    Director

    Board Member at Global Business Travel Group, Inc. and Definitive Healthcare Corp.

    Appointed to the board in 2024. Extensive experience in financial leadership and operational performance. Former CFO at ADP and MSCI.

    Matthew E. Winter

    Board

    Director

    Board Member at ADT Inc. and H&R Block, Inc.

    Director since 2020. Over 25 years of experience in the insurance industry. Former leadership roles at Allstate, AIG, and MassMutual.

    Teresa W. Roseborough

    Board

    Director

    EVP, General Counsel, and Corporate Secretary at The Home Depot

    Director since 2015. Over three decades of experience as a senior legal advisor. Extensive expertise in corporate compliance and litigation.

    Trevor Fetter

    Board

    Lead Director

    N/A

    Director since 2007, Lead Director since 2017. Extensive corporate governance experience. No current external roles listed.

    Virginia P. Ruesterholz

    Board

    Director

    Trustee of the Board of Stevens Institute of Technology

    Director since 2013. Extensive experience in operations, sales, marketing, and risk management. Former president of various divisions at Verizon.

    Questions to Ask Management

    1. In the Personal Lines segment, can you provide specific targets for your longer-term combined ratio given the recent trends, and explain how you plan to achieve them, especially in the context of increased advertising expenses?
    2. Regarding the upcoming A&E reserve review, can you discuss any preliminary trends or factors that might impact reserve levels, and how you are preparing for potential changes in those liabilities?
    3. Group Benefits sales are down 15% from the prior year despite strong margins; how do you plan to address the competitive pressures and decline in new business to drive growth in this segment?
    4. In a competitive market with rising loss trends and healthy industry ROEs, how are you balancing pricing increases to maintain growth while ensuring underwriting discipline across your commercial lines?
    5. Your Group Benefits margins are currently above your 6% to 7% guidance at 8.7%; what factors are driving the expectation of a margin decrease, and how will this affect your strategic priorities in this segment?

    Share Repurchase Program

    Program DetailsProgram 1Program 2
    Approval DateJuly 28, 2022 July 25, 2024
    End Date/DurationDecember 31, 2024 December 31, 2026
    Total additional amount$3.0 billion $3.3 billion
    Remaining authorization$0.2 billion $3.3 billion
    DetailsPart of $3.5 billion remaining under both programs Part of $3.5 billion remaining under both programs

    Customer Concentration

    CustomerRelationshipSegmentDetails

    AARP Members

    Provides auto, homeowners, and personal umbrella insurance tailored for AARP members

    Personal Insurance

    Earned premiums of $3.2 billion in 2024 (about 12.1% of $26.54 billion total revenue)

    Auditor

    NameStart DateEnd DateReason for Change
    Deloitte & Touche LLP2002PresentCurrent auditor
    Citation: Deloitte & Touche LLP has served as the auditor of The Hartford Financial Services Group, Inc. since 2002.  **[0000874766-24-000016_hig-20231231.htm:168]**

    Latest news

    Recent press releases and 8-K filings for HIG.

    Hartford Insurance: 8-K Shareholder Vote and Financial Filing Summary
    •HIG
    Proxy Vote Outcomes
    Auditor Change
    • Shareholder meeting outcomes: The annual meeting on May 21, 2025 featured votes for board nominees, ratification of Deloitte & Touche LLP as the independent auditor, advisory approval of executive compensation, approval of the 2025 Long Term Incentive Stock Plan, and the rejection of special meeting rights for shareholders.
    • Filing details: The 8-K report, filed on May 22, 2025, includes financial statements and exhibits with embedded XBRL data.
    May 22, 2025, 12:00 AM
    8-K
    Hartford Q1 2025 Earnings & Performance Highlights
    •HIG
    Earnings
    Share Buyback
    New Projects/Investments
    Dividends
    • The company delivered robust Q1 2025 performance with core earnings of $639 million, EPS of $2.20, and a trailing 12-month core earnings ROE of 16.2% .
    • Record written premiums in Business Insurance achieved 10% growth despite significant challenges, including $325 million in losses from the January California wildfires .
    • In Property & Casualty, Business Insurance posted a combined ratio of 94.4%, while Personal Insurance delivered 8% premium growth with an improved underlying combined ratio of 89.7% despite a headline ratio of 106.1% .
    • Enhanced capital management featured a share repurchase of 3.5 million shares for $400 million and a dividend payout of $150 million, contributing to a book value per diluted share (ex. AOCI) of $65.99 .
    • Strategic initiatives—including enhanced digital capabilities and the launch of the Prevail platform—underscore the company’s focus on sustainable growth .
    • The investment portfolio generated $656 million in net investment income, reflecting strong asset performance .
    Apr 25, 2025, 1:01 PM
    TranscriptPresentation
    The Hartford Announces Q1 2025 Results
    •HIG
    Earnings
    Dividends
    Share Buyback
    • Net income available to common stockholders was $625 million (EPS $2.15), a 16% decline from Q1 2024, with core earnings of $639 million (EPS $2.20) reflecting a 10% decrease.
    • Property & Casualty written premiums increased by 9%, driven by 10% growth in Business Insurance and 8% in Personal Insurance, although elevated catastrophe losses impacted overall margins and ratios.
    • The company returned $550 million to stockholders through $400 million in share repurchases and $150 million in dividends.
    Apr 24, 2025, 12:00 AM
    8-K