Reinsurance News
The Hartford
49% of industry participants felt Chubb would need a higher bid to land Hartford
26th March 2021
Having approached our industry contacts following news that Chubb was lining up an acquisition attempt for rival insurer Hartford, Reinsurance News found 49% believed a higher asking price would be needed for the mega transaction to go ahead. Interestingly our findings came just hours before The Hartford’s board rejected ... Read the full article
The Hartford Board unanimously rejects Chubb acquisition offer
23rd March 2021
After consultation with its financial and legal advisors, The Hartford has announced that its Board of Directors has unanimously rejected re/insurer Chubb's approximately $23.24 billion acquisition offer. Following reports in the media that Chubb had approached carrier The Hartford over a potential acquisition, Chubb later confirmed it had made ... Read the full article
Chubb approaches The Hartford over $23.24bn combination
19th March 2021
Global insurer and reinsurer Chubb has confirmed that it has made an approximately $23.24 billion acquisition offer for The Hartford, valuing the firm at $65 per share. Late yesterday, reports emerged that Chubb was considering the takeover of rival insurer The Hartford. Chubb has now confirmed that on March 11th, it ... Read the full article
Chubb eyeing acquisition of rival insurer Hartford, reports
18th March 2021
It appears as though global insurer Chubb could be eyeing a takeover bid for rival carrier Hartford Financial Services, according to reports emerging from Bloomberg. Chubb is led by Chief Executive Officer Evan Greenberg and is reported to be in the process of weighing up an acquisition for a rival currently ... Read the full article
The Hartford’s net income falls slightly on COVID, A&E reserve charge
5th February 2021
Property and casualty insurer The Hartford has reported a decline in net income to $532 million for the fourth-quarter of 2020, driven by excess mortality in group life as a result of COVID-19 and a charge for asbestos and environmental (A&E) reserve development. Q4 2020 net income fell by 2% when ... Read the full article
The Hartford adds Donna James to its board
2nd November 2020
Property and casualty insurer The Hartford has announced the addition of Donna James to its board of directors. Effective February 17, 2021, she will serve on the board’s Finance, Investment and Risk Management Committee. James is president and CEO of Lardon & Associates, a business-advisory firm specializing in corporate governance, new business ... Read the full article
The Hartford’s Q3 net income falls 14% to $453mn
30th October 2020
Property and casualty insurer The Hartford has reported a net income of $453 million for the third quarter, down 14% from the prior year period. Core earnings for the quarter declined 4% to $527 million. Incurred losses from COVID-19 were $72 million, before tax, comprised of Property and Casualty losses of $37 million ... Read the full article
The Hartford hires new Head of the Central Division
9th October 2020
Property and casualty insurer, The Hartford has announced the appointment of Bob Gulino as Head of the Central Division for the company’s Middle and Large Commercial Insurance business. Gulino will be leading the sales and underwriting operations for the company’s independent agents, brokers and customers across 13 Midwestern states from Minnesota ... Read the full article
Premia to acquire Navigators Holdings (Europe) from The Hartford
5th October 2020
Bermuda domiciled reinsurance run-off group, Premia Holdings Ltd., has reached an agreement to acquire Navigators Holdings (Europe) NV and its associated companies from The Hartford, subject to regulatory approvals. The associated companies included in the acquisition are Assurances Continentales - Continentale Verzekeringen NV of Belgium and Canal Re S.A. of Luxembourg, ... Read the full article
The Hartford registers $251mn COVID-19 hit in Q2
31st July 2020
Property and casualty insurer The Hartford has announced $251 million in COVID-19 related losses, pre-tax, for the second quarter. The company's net income in Q2 increased 24% to $463 million, while core earnings of $438 million represent a 10% decline from the prior year quarter. The Hartford incurred $248 million in current accident ... Read the full article
Castel acquires renewal rights for Navigators Europe from The Hartford
17th July 2020
Castel Underwriting Agencies Limited's subsidiary, Castel Underwriting Europe B.V. (Castel Europe), has reached an agreement with U.S. insurer The Hartford to acquire the renewal rights for Navigators Europe, the trading name of the Bracht, Deckers & Mackelbert NV (BDM)/ASCO Continentale Verzekeringen NV (ASCO), Rotterdam marine business. The Hartford completed its ... Read the full article
The Hartford’s COVID-19 & cat losses near $500mn in Q2
16th July 2020
U.S. insurer The Hartford expects to incur losses related to COVID-19 of $251 million pre-tax ($198 million after-tax) in the second-quarter of 2020, as well as current accident year catastrophe losses of $248 million pre-tax ($196 million after-tax). Combined, pre-tax losses from COVID-19 and current accident year catastrophes are estimated at ... Read the full article
The Hartford extends COVID-19 personal auto payback plan
8th July 2020
Property and casualty insurer The Hartford has announced that it will extend its COVID-19 personal auto payback plan through June. The plan originally provided customers with a 15% credit on their April and May personal auto insurance premiums. Extending the plan through June brings the total amount the company will distribute to ... Read the full article
The Hartford to add Amy Stepnowski as CIO
30th June 2020
Property and casualty insurer The Hartford is set to appoint Amy Stepnowski to serve as its Chief Investment Officer, as well as President of Hartford Investment Management Company. Effective August 1, Stepnowski will succeed Brion Johnson, who will remain with the company in an advisory capacity through the end of the ... Read the full article
The Hartford names William Steinberg head of wholesale property, Navigators
18th June 2020
Property and casualty insurer The Hartford has appointed William Steinberg as head of wholesale property for Navigators, a brand of the company. In his new role, Steinberg reports to Vince Tizzio, head of the Global Specialty business at The Hartford, and will partner closely with Tim Ryan, who leads the Wholesale ... Read the full article
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