About the Company
Commonly referred to as “The Hartford”, Hartford Financial Services Group, Inc. is an insurance and investment company providing financial services through its many subsidiaries. Headquartered in Hartford, Connecticut, it was established by a few local merchants as Hartford Fire Insurance Company in 1810. Aside from providing life insurance, automobile insurance and business insurance, Hartford also offers mutual funds annuities.
Hartford Financial Services Group, Inc. shares are traded on the New York Stock Exchange (NYSE) under the ticker “HIG”. Its operations are divided into 5 segments- Personal Lines, Commercial Lines, Hartford Funds, Group Benefits and Property & Casualty Other Operations.
The first one includes homeowner, automobile coverages; the second one includes coverages in relation to property, livestock, employee’s compensation and more. The third segment, Hartford Funds, provides various investment products and services. Group benefits include accident, group life and disability insurance. Lastly, the fifth segment involves mutual funds, property and casualty operations.
HIG sold its life insurance unit to Prudential for an estimated $615 million in 2013. The following year, it sold its annuities operations in Japan to Orix Life Insurance Corporation for $895 million. In 2019, Hartford completed the acquisition of Navigators Group for approximately $2.1 billion. Following this acquisition, Hartford was able to add products in more than 20 vertical markets. Moreover, it also opened new offices in Continental Europe, Asia and the United Kingdom.
Presently, HIG is one of the leading casualty and property insurance companies in America; they sell their wide range of products through a well-established network of brokers and agents. In 2020, HIG won the Diversity and Inclusion Award owing to its inclusion initiative and support for diversity throughout the insurance and financial services industry. In the same year, HIG won the Innovations Award for its efficient Global Online Portal. Additionally, Hartford was named 160th on the list of Fortune 500 companies in 2020.;
|Organisation||Hartford Financial Services Group Inc|