Skip to content
February 7, 2023
  • Disclosure Policy
  • Sitemap
  • Advertise Here
  • Contact Us

Official Outlet

trending business in the world

  • Blog Article
  • Business insurance
    • Small Business Ideas
    • Global Business
    • International Business
  • Business analyst
    • Business plan
    • Business insider
    • Business strategy
  • Business management
    • Sales Management
    • Strategy Management
    • Project Management
    • Profitable
  • Opportunity
    • Entrepreneurship
    • Business leadership
  • Human Resource
    • Team Building
    • Business News
    • Employment
    • Profesional Service
Watch Online
  • Home
  • Business insurance
  • Hartford’s Q2 profit soars 94{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4}
  • Business insurance
  • Global Business
  • International Business
  • Small Business Ideas

Hartford’s Q2 profit soars 94{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4}

Adiantku 2 years ago 3 min read

Hartford Financial Services Group Inc. reported second-quarter net income of $900 million, up 94{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4} from the year-earlier period, driven in part by written premium and underwriting gains in commercial lines and a decrease in COVID-19-related losses.

Despite the sharp rebound from the second quarter of 2020, Hartford Chairman and CEO Christopher Swift said in an earnings call with analysts Thursday that the insurer is “closely monitoring the recent elevated inflation data.”

Mr. Swift said he remains confident that Hartford’s loss ratio assumptions are “sufficient,” but added, “at the same time, we are considering pricing actions as we gauge inflation trends going forward.”

Hartford said after the markets closed Wednesday that property/casualty reported written premiums totaling $3.3 billion in the second quarter, a 12{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4} increase from the year-earlier period. Its combined ratio was 88.5{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4}, an 8.4 point improvement over the year-earlier period that the insurer attributed to lower COVID-19 incurred losses, higher earned premiums and lower current accident year catastrophe losses.

In property/casualty, the “improved results were driven by higher investment income and a very strong contribution from commercial lines with double-digit topline growth,” Mr. Swift said.

In commercial lines, Hartford reported net income of $569 million, compared with a net loss of $66 million in the second quarter of 2020; the improvement was due primarily to an underwriting gain of $261 million, compared with an underwriting loss of $332 million in the year-earlier period.

Commercial lines saw a 15{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4} increase in net written premiums to $2.49 billion. The largest gain came from standard commercial, which improved its new business premiums by 46{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4}.

The commercial combined ratio improved 26.5 points to 88.9{0018ee5a413206d5867d4650a6cb0bf5e2f9c77ab1c1dc5336e75263ef8a33b4}, due in part to a decrease in current accident year catastrophe losses.

Hartford reported $93 million in second-quarter catastrophe losses in commercial lines, $100 million less than the second quarter of 2020, which included $110 million in civil unrest losses.

In group benefits, the insurer has continued to see an uptick in excess mortality in the past five quarters due to the impact of COVID-19.

“We are closely monitoring variant strains,” Mr. Swift said. “We do expect lower excess mortality in the second half of 2021 compared with the first half of this year.”

Mr. Swift also noted that the Boy Scouts of America, which is currently in bankruptcy, recently filed a request in court to be released from its settlement agreement with Hartford. In April, Hartford agreed to pay $650 million to settle claims for historic sex abuse allegations against the Boy Scouts and in return the Boy Scouts and its local councils agreed to release the insurer from any obligations under the policies.

“We are vigorously contesting this request and have filed strong opposition with the bankruptcy court,” Mr. Swift said.

 

 

 

Source link

Continue Reading

Previous: Corporate Team Building & Development Activities In Singapore
Next: THE MAJOR TYPES OF INSURANCE EVERY BUSINESS OWNER SHOULD HAVE – News Anyway

Related Stories

Best Careers For The Future To Focus On Today 8 min read
  • Business insurance

Best Careers For The Future To Focus On Today

Adiantku 11 months ago
How Do I Innovate My Business To Grow My Business Without Increasing Costs 8 min read
  • Business insurance

How Do I Innovate My Business To Grow My Business Without Increasing Costs

Adiantku 11 months ago
Tenders And How They Can Add To Your Business 8 min read
  • Global Business

Tenders And How They Can Add To Your Business

Adiantku 11 months ago
Corporate Team Building Events And Employee Training 8 min read
  • Global Business

Corporate Team Building Events And Employee Training

Adiantku 11 months ago
Team Building With The Corporation’s Interests In Mind 8 min read
  • Global Business

Team Building With The Corporation’s Interests In Mind

Adiantku 11 months ago
Corporate Team Building 8 min read
  • Business insurance

Corporate Team Building

Adiantku 11 months ago

Recent Posts

  • Dry, The Beloved Country
  • Best Careers For The Future To Focus On Today
  • How Do I Innovate My Business To Grow My Business Without Increasing Costs
  • How To Find The Best Horse Racing Bet Using The Pools
  • Tenders And How They Can Add To Your Business

Categories

  • Blog Article
  • Business analyst
  • Business insider
  • Business insurance
  • Business leadership
  • Business management
  • Business News
  • Business plan
  • Business strategy
  • Employment
  • Entrepreneurship
  • Financial
  • Global Business
  • Human Resource
  • International Business
  • Opportunity
  • Profesional Service
  • Profitable
  • Project Management
  • Sales Management
  • Small Business Ideas
  • Strategy Management
  • Team Building

About Us

  • Disclosure Policy
  • Sitemap
  • Advertise Here
  • Contact Us

recomendation

martine roch
honda math
run2game
dragonfly business
thehellenicvoice
ujc madrid
mercosur digital
momasstube
sciencefile
sdiwc
soldering point
home ideas finder

martineroch dragonflydoces thehellenicvoice harianbhirawa nortoncom hungerking rexrothpneumatics rssoundingboard bassoatesino dsdukes torgodevil the lorenz

You may have missed

Dry, The Beloved Country 8 min read
  • Business analyst

Dry, The Beloved Country

Adiantku 11 months ago
Best Careers For The Future To Focus On Today 8 min read
  • Business insurance

Best Careers For The Future To Focus On Today

Adiantku 11 months ago
How Do I Innovate My Business To Grow My Business Without Increasing Costs 8 min read
  • Business insurance

How Do I Innovate My Business To Grow My Business Without Increasing Costs

Adiantku 11 months ago
How To Find The Best Horse Racing Bet Using The Pools 9 min read
  • Business analyst

How To Find The Best Horse Racing Bet Using The Pools

Adiantku 11 months ago
  • Disclosure Policy
  • Sitemap
  • Advertise Here
  • Contact Us
  • Disclosure Policy
  • Sitemap
  • Advertise Here
  • Contact Us
Copyright © 2021 Officialreligionoutlet.com. All rights reserved. | Kreeti by AF themes.