Reinsurance News
The Hartford
The Hartford enhances Internet of Things Innovation Lab
28th November 2019
Property and casualty insurer The Hartford has expanded its Internet of Things (IoT) Innovation lab and capabilities to improve workplace safety and help reduce property damage. The company utilises network-connected devices in businesses and homes to reduce and mitigate hazards such as unsafe working conditions or water damage from broken pipes. For ... Read the full article
The Hartford posts strong Q3 results, net income up 21%
5th November 2019
Property and casualty insurer The Hartford has posted strong financial results for the third quarter, with net income up 21% against the prior year quarter at $524 million. This is the first full quarter with Navigators, which The Hartford acquired recently in an all-cash transaction valued at $2.1 billion. Chairman and ... Read the full article
The Hartford promotes Scott to lead role within northeast division
10th July 2019
Property and Casualty (P&C) insurer the Hartford has named Matt Scott as Head of the northeast division for the firm’s large commercial insurance business. Scott joined in 1997 and has held a number of leadership positions with the company’s Claims organisation. Most recently, he was head of the Hartford’s Claims Solutions organisation ... Read the full article
The Hartford partners with Mimecast on cyber awareness training course
31st May 2019
Property and casualty (P&C) insurer The Hartford has partnered with email and data security firm Mimecast in order to bolster knowledge and foresight around the inherent risks of cyber. The service, named Mimecast Awareness Training, is designed to help its customers reduce the risk of a cyber incident before it occurs. The ... Read the full article
The Hartford completes Navigators takeover
23rd May 2019
The Hartford has closed its previously announced acquisition of The Navigators Group, Inc. for a total price of $2.2 billion in cash, including expenses. The deal, announced in August of 2018, expands The Hartford's product offerings and geographical footprint. Navigators has 22 locations across the U.S. and eight globally, and has roughly ... Read the full article
Hartford buying ADC for Navigators from Berkshire Hathaway
2nd May 2019
The Hartford has announced that it plans to buy $300 million of adverse development cover (ADC) from Berkshire Hathaway to protect it against unfavourable loss reserve movement at The Navigators Group, which The Hartford is in the process of acquiring. Subject to the closing of its acquisition this summer, The Hartford ... Read the full article
The Hartford launches Global Insurer Network
28th March 2019
Property and casualty (P&C) insurer The Hartford has announced the launch of The Hartford Global Insurer Network, a new, directly-managed network of insurance partners that's backed by an international technology platform. The launch sees The Hartford enhance its multinational capabilities, and through the network the P&C insurer will offer insurance protection ... Read the full article
The Hartford reveals new operating model for Navigators businesses
5th February 2019
Property and casualty insurer The Hartford has announced a new operating model and organisational structure for its specialty commercial and middle market businesses following the completion of its pending acquisition of The Navigators Group. The new model will integrate Navigators’ operations, as well as The Hartford’s current Specialty Commercial and Middle ... Read the full article
The Hartford estimates Q4 cat & wildfire losses of up to $365m
5th December 2018
Property and casualty insurer The Hartford is anticipating a post-tax, fourth quarter net catastrophe hit of between $350 million and $365 million, a figure which includes the Camp and Woolsey fires in California as well as hurricane Michael. In reaction to this loss announcement, equity analysts at Credit Suisse ... Read the full article
The Hartford acquires specialist MGU Y-Risk
4th December 2018
Property and casualty insurer the Hartford has announced the purchase of Y-Risk, a managing general underwriter (MGU), from Allstar Financial Group. Y-Risk offers products for the sharing and on-demand economy, with tailor-made coverages and usage-based pricing for commercial auto, general liability, property, inland marine, cyber and professional liability. The firm delivers its ... Read the full article
The Hartford announces $2.1 billion acquisition of Navigators
22nd August 2018
The Hartford has agreed to acquire all the outstanding common shares of The Navigators Group, Inc., in an all-cash transaction valued at $2.1 billion, or $70 per share. The Board of Directors of both companies have approved the deal, but it remains subject to approval by the shareholders of Navigators and ... Read the full article
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
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