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The Hartford

The Hartford no longer expects recovery against 2017 aggregate cat treaty

31st July 2018

Property and casualty insurer, The Hartford, no longer expects to make a recovery against its aggregate catastrophe reinsurance treaty for the 2017 accident year, as a result of a reduction in its estimates for prior year catastrophe losses, primarily related to third-quarter hurricanes. As of December 31st, 2017, The Hartford reported ... Read the full article

The Hartford closes $2.75bn sale of Talcott Resolution

1st June 2018

Property and casualty insurer The Hartford has announced the completion of the previously announced sale of its run-off life and annuity businesses Talcott Resolution to a group of investors led by Cornell Capital LLC, Atlas Merchant Capital LLC, TRB Advisors LP, Global Atlantic Financial Group, Pine Brook and J. ... Read the full article

The Hartford enters $200m renewal rights agreement with Farmers Exchanges

20th February 2018

The Hartford has entered into a renewal rights agreement with the Farmers Exchanges to acquire its Foremost Insurance commercial independent agent business, gaining access to nearly $200 million in commercial lines premium. Stephanie Bush, The Hartford’s head of Small Commercial and Personal Lines, said; “this renewal rights agreement further strengthens The ... Read the full article

The Hartford reveals $850mn tax, $180mn cat impacts in Q4

10th January 2018

The Hartford has revealed an expected $850 million charge on Q417 financial results from the impact of lower U.S. corporate tax rates on the company's net deferred tax assets. The company anticipates a further pre-tax $180 million in Q4 losses for the most part due to California wildfires. These factors would reduce ... Read the full article

The Hartford to sell run-off life and annuity unit Talcott Resolution

4th December 2017

U.S. insurance group The Hartford has entered into a definitive agreement to sell run-off life and annuities business Talcott Resolution to investors led by Cornell Capital LLC, Atlas Merchant Capital LLC, TRB Advisors LP, Global Atlantic Financial Group, Pine Brook and J. Safra Group. The sale will net The Hartford $2.05 ... Read the full article

The Hartford to acquire Aetna’s U.S. group life & disability business for $1.45bn

25th October 2017

The Hartford has announced that it will acquire Aetna's U.S. group life and disability business for $1.45 billion, in cash, subject to state regulatory approvals and other customary closing conditions. The deal will see The Hartford become the second largest group life and disability insurance company, with roughly $5 billion in ... Read the full article

Greig Woodring & Steve McGill elected to The Hartford’s Board

20th October 2017

The Hartford has elected Greig Woodring and Steve McGill to the company's Board of Directors to succeed Charlie Strauss and Patrick Swygert, who will not stand for re-election in May 2018 upon reaching mandatory retirement age. The appointments are effective from December 20th, 2017. The Hartford’s Chairman and Chief Executive Officer (CEO), Christopher Swift, ... Read the full article

The Hartford puts combined Harvey & Irma loss at up to $350 million

2nd October 2017

The Hartford has announced that it expects catastrophe losses of up to $375 million for the third-quarter of 2017, net of reinsurance, in light of the impacts of hurricanes Harvey and Irma. The company has produced a Q3 2017 catastrophe loss estimate of between $325 million and $375 million, before tax, ... Read the full article

Robert Paiano to succeed The Hartford’s retiring CRO Robert Rupp

13th June 2017

The Hartford has named Robert Paiano as Chief Risk Officer (CRO) set to succeed current CRO Robert Rupp, after he retires. Paiano will report to the Hartford’s Chairman and Chief Executive Officer (CEO) Christopher Swift, his appointment is effective from July 1st, 2017. Swift thanked outgoing CRO Rupp for his "service and dedication," commenting ... Read the full article

Morris Tooker announced as new Hartford Middle Market head

30th March 2017

The Hartford has announced Morris Tooker, former reinsurance President of Warren Buffett's Gen Re, as new head of the firm's Middle Market segment - which covers multiline commercial insurance for midsize and larger clientele. The Hartford's Middle Market segment offers property, general liability, workers’ compensation, auto, umbrella liability and marine protection, ... Read the full article

Berkshire Hathaway in $1.5bn reinsurance agreement with The Hartford

3rd January 2017

Warren Buffett’s National Indemnity Company (NICO), a Berkshire Hathaway Inc subsidiary, has entered into a $1.5 billion aggregate excess of loss reinsurance agreement with The Hartford. With a reinsurance premium set at $650 million, the agreement will provide $1.5 billion of reinsurance covering adverse net loss reserve development on ... Read the full article

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