Reinsurance News
The Hartford
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
WTW and The Hartford partner on captive solution for the middle market
10th June 2020
Global re/insurance broker Willis Towers Watson (WTW) has launched a group captive solution for upper middle market companies, called the Homestead Insurance Company Incorporated Cell. The new captive solution is set to reinsure The Hartford, which in turn will issue admitted insurance policies to members selected for this group program. According to ... Read the full article
The Hartford income drops 57% as COVID-19 hits investments
30th April 2020
Property and casualty insurer The Hartford has reported a 57% decrease in net income during the first quarter of 2020, primarily due to the impact of the coronavirus (COVID-19) pandemic on its investment portfolio. Net income came to $268 million in Q1, compared with $625 million for the same period last ... Read the full article
The Hartford adds former Allstate exec Matt Winter to board
24th February 2020
Property and casualty insurer The Hartford has announced the appointment of Matt Winter to its board of directors, effective February 24. Winter is also set to join the board’s finance, investment and risk management committee on the same date, while on May 20 he will join the compensation and management development ... Read the full article
The Hartford boosts net income by 15% in 2019
4th February 2020
Property and casualty insurer The Hartford has increased its full-year net earnings to $2.064 billion, due to lower catastrophe losses and investment income from the acquisition of Navigators Group. This figure represents a 15% increase on the $1.801 billion achieved in the prior year. Core earnings similarly came out at $2.062 billion, ... Read the full article
The Hartford announces new thermal coal, tar sands policy
23rd December 2019
Property and casualty insurer The Hartford will no longer insure or invest in companies that generate more than 25% of their revenues from thermal coal mining or more than 25% of their energy production from coal. In addition, the company will also stop insuring and investing in companies that generate more ... Read the full article