The Hartford(HIG)

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The Hartford(HIG) - 2021 Q2 - Earnings Call Presentation
2021-07-29 12:19
The Hartford Financial Services Group, Inc. July 28, 2021 THE HARTFORD'S SECOND QUARTER FINANCIAL RESULTS Copyright © 2021 by The Hartford. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford 1 Safe harbor statement Certain statements made in this presentation should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These include statements about The Hartford's future results of ...
The Hartford(HIG) - 2021 Q2 - Quarterly Report
2021-07-28 20:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-Q ____________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ______________ Commission file number 001-13958 _____________________ ...
The Hartford(HIG) - 2021 Q1 - Quarterly Report
2021-04-27 19:49
Financial Performance - Total revenues for Q1 2021 were $5,299 million, an increase of 6.9% compared to $4,956 million in Q1 2020[17] - Net income for Q1 2021 was $249 million, a decrease of 8.8% from $273 million in Q1 2020[17] - The company’s basic earnings per share decreased to $0.68 in Q1 2021 from $0.75 in Q1 2020, a decline of 9.3%[17] - Comprehensive loss for Q1 2021 was $657 million, compared to a loss of $736 million in Q1 2020[18] - Net income available to common stockholders decreased to $244 million for Q1 2021, down from $268 million in Q1 2020, representing a decline of 9.0%[38] Revenue Sources - Earned premiums decreased to $4,343 million in Q1 2021 from $4,391 million in Q1 2020, reflecting a decline of 1.1%[17] - Total earned premiums and fee income for the three months ended March 31, 2021, was $4,698 million, slightly down from $4,711 million in the same period of 2020[40] - Group Benefits segment reported total revenues of $1,418 million for Q1 2021, up from $1,391 million in Q1 2020, reflecting a growth of 1.9%[40] - Commercial Lines earned premiums decreased to $2,244 million in Q1 2021 from $2,273 million in Q1 2020, a decline of 1.3%[40] - Personal Lines total earned premiums fell to $742 million in Q1 2021, down from $783 million in Q1 2020, a decrease of 5.2%[40] Investment Performance - Net investment income increased to $509 million in Q1 2021, up 10.9% from $459 million in Q1 2020[17] - The company reported net realized capital gains of $80 million in Q1 2021, compared to a loss of $231 million in Q1 2020[17] - The company reported a net unrealized loss on equity securities of $(6) million for the three months ended March 31, 2021, compared to a loss of $(386) million in the same period of 2020[73] Expenses and Liabilities - Total benefits, losses, and expenses rose to $4,996 million in Q1 2021, an increase of 8.3% from $4,612 million in Q1 2020[17] - The total liabilities for unpaid losses and loss adjustment expenses, gross, reached $30,332 million as of March 31, 2021, compared to $28,380 million as of March 31, 2020, marking an increase of about 6.9%[183] - The provision for unpaid losses and loss adjustment expenses for the current accident year was $1,924 million for the three months ended March 31, 2021, compared to $1,883 million for the same period in 2020, reflecting an increase of approximately 2.2%[183] Asset Management - Total assets increased to $74,201 million as of March 31, 2021, compared to $74,111 million at December 31, 2020, reflecting a growth of 0.12%[20] - Total investments decreased to $55,727 million from $56,532 million, a decline of 1.43%[20] - Cash and restricted cash at the end of the period was $280 million, down from $301 million, representing a decrease of 6.98%[23] Shareholder Returns - The company declared cash dividends of $0.350 per common share, an increase from $0.325 per share in the previous year[21] - The total stockholders' equity decreased to $17,702 million from $18,556 million, a decline of 4.61%[20] Credit Losses and Allowances - The allowance for credit losses (ACL) on fixed maturities, AFS, decreased to $19 million as of March 31, 2021, from $23 million at the beginning of the period[86] - The allowance for credit losses (ACL) on mortgage loans decreased to $34 million as of March 31, 2021, from $38 million at the beginning of the period, reflecting improved economic conditions[100] - The allowance for credit losses (ACL) on premiums receivable decreased to $144 million as of March 31, 2021, compared to $152 million as of December 31, 2020, indicating a reduction in expected credit losses[165] Reinsurance and Reserves - The gross reinsurance recoverables increased to $6,181 million as of March 31, 2021, compared to $6,119 million as of December 31, 2020, reflecting a growth of approximately 1.0%[173] - The net reinsurance recoverables also rose to $6,083 million as of March 31, 2021, up from $6,011 million at the end of 2020, indicating an increase of about 1.2%[173] - The Hartford increased general liability reserves by $650 million for sexual molestation and abuse claims related to the Boy Scouts of America, reflecting a settlement agreement[197] Derivative Instruments and Hedging - The Company recognized a total gain of $14 million from cash flow hedges during the three months ended March 31, 2021, compared to $60 million in the same period of 2020[143] - The Company utilized interest rate swaps to manage portfolio duration and convert variable interest payments to fixed rates[126] - The Company entered into credit default swaps to hedge against default risk and credit-related changes in the value of fixed maturity securities[129]
The Hartford(HIG) - 2021 Q1 - Earnings Call Transcript
2021-04-23 03:00
The Hartford Financial Services Group, Inc. (NYSE:HIG) Q1 2021 Earnings Conference Call April 22, 2021 9:00 AM ET Company Participants Susan Spivak - Senior Vice President, Investor Relations Chris Swift - Chairman & Chief Executive Officer Beth Costello - Chief Financial Officer Doug Elliot - President Conference Call Participants Greg Peters - Raymond James Elyse Greenspan - Wells Fargo Mark Dwelle - RBC Tracy Benguigui - Barclays Brian Meredith - UBS Mike Zaremski - Credit Suisse David Motemaden - Everco ...
The Hartford(HIG) - 2021 Q1 - Earnings Call Presentation
2021-04-22 19:26
The Hartford Financial Services Group, Inc. April 22, 2021 THE HARTFORD'S FINANCIAL PLAN Copyright © 2021 by The Hartford. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford SAFE HARBOR STATEMENT Certain statements made in this presentation should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These include statements about The Hartford's future results of operations. We cau ...
The Hartford(HIG) - 2020 Q4 - Annual Report
2021-02-19 21:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-13958 THE HARTFORD FINANCIAL SERVICES GROUP, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Empl ...
The Hartford(HIG) - 2020 Q4 - Earnings Call Presentation
2021-02-09 12:29
The Hartford Financial Services Group, Inc. February 4, 2021 THE HARTFORD'S FOURTH QUARTER AND FULL YEAR 2020 FINANCIAL RESULTS AND 2021 KEY BUSINESS METRIC OUTLOOK © 2021 by The Hartford. Classification: Non-Confidential. No part of this document may be reproduced, published or used without the permission of The Hartford. 1 Safe harbor statement Certain statements made in this presentation should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Th ...
The Hartford(HIG) - 2020 Q4 - Earnings Call Transcript
2021-02-05 18:18
Hartford Financial Services Group Inc. (NYSE:HIG) Q4 2020 Earnings Conference Call February 5, 2021 9:00 AM ET Company Participants Chris Swift - Chairman, Chief Executive Officer Doug Elliot - President Beth Costello - Chief Financial Officer Susan Spivak Bernstein - Senior Vice President, Investor Relations Conference Call Participants Elyse Greenspan - Wells Fargo Brian Meredith - UBS Ryan Tunis - Autonomous Research Jimmy Bhullar - JP Morgan Mike Zaremski - Credit Suisse David Motemaden - Evercore ISI ...
The Hartford(HIG) - 2020 Q3 - Earnings Call Presentation
2020-10-30 18:17
The Hartford Financial Services Group, Inc. October 29, 2020 THE HARTFORD'S THIRD QUARTER FINANCIAL RESULTS Copyright © 2020 by The Hartford. All rights reserved. No part of this document may be reproduced, published or posted without the permission of The Hartford 1 Safe harbor statement Certain statements made in this presentation should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These include statements about The Hartford's future results ...
The Hartford(HIG) - 2020 Q3 - Quarterly Report
2020-10-29 20:40
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________ FORM 10-Q ____________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ______________ Commission file number 001-1395 ...