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Hartford Financial Services Group Incde (HIG) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Hartford Financial Services Group Incde

CIK: 874766 Ticker: HIG


        
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NEWS RELEASE


The Hartford Reports Fourth Quarter 2016 Net Loss Per Diluted Share Of $0.22 And Core Earnings Per Diluted Share* Of $1.08

Net loss of $81 million compared with net income of $421 million in fourth quarter 2015 primarily due to a $423 million, after-tax, charge related to the previously-announced retroactive reinsurance agreement covering asbestos and environmental (A&E) liability exposures; net loss per diluted share of $0.22 compared with net income per diluted share of $1.01 in fourth quarter 2015

Core earnings* of $415 million decreased 7% from $445 million in fourth quarter 2015; core earnings per diluted share* of $1.08 rose 1% from $1.07 in fourth quarter 2015 due to the impact of equity repurchases

Commercial Lines combined ratio of 91.3, a 3.2 point increase from fourth quarter 2015; Underlying combined ratio* of 88.2, flat with fourth quarter 2015

Personal Lines combined ratio of 106.7, an 11.4 point deterioration from fourth quarter 2015; underlying combined ratio of 101.8, an 8.3 point deterioration from fourth quarter 2015 due to automobile liability, a portion of which related to the first nine months of 2016

Book value per diluted share of $44.35, up 3% from Dec. 31, 2015; book value per diluted share excluding accumulated other comprehensive income (AOCI)* was $45.24, up 3%

HARTFORD, Conn., Feb. 2, 2017 – The Hartford (NYSE:HIG) reported a net loss of
$81 million in fourth quarter 2016 compared with net income of $421 million in fourth quarter 2015 and core earnings of $415 million in fourth quarter 2016, down from $445 million in fourth quarter 2015.

* Denotes financial measure not calculated in accordance with generally accepted accounting principles (non-GAAP); definitions of non-GAAP measures and reconciliations to their closest GAAP measures can be found in this news release under the heading Discussion of Non-GAAP Financial Measures

The net loss was primarily due to a fourth quarter 2016 charge of $423 million, after-tax, resulting from a reinsurance agreement with National Indemnity Company covering The Hartford's A&E liability exposures. The net loss for fourth quarter 2016 also included an unlock charge of $12 million, after-tax, compared with an unlock benefit of $35 million, after-tax, in fourth quarter 2015. Both fourth quarter 2016 net loss and core earnings were affected by the $102 million, after-tax, decrease in property and casualty (P&C) underwriting results, partially offset by a $40 million, after-tax, increase

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The following information was filed by Hartford Financial Services Group Incde (HIG) on Thursday, February 2, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Hartford Financial Services Group Incde's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Schedule I Summary Of Investments - Other Than Investments In Affiliates Level 1 (notes)
Schedule I Summary Of Investments - Other Than Investments In Affiliates Level 3 (tables)
Schedule I Summary Of Investments - Other Than Investments In Affiliates Level 4 (details)
Schedule Ii Condensed Financial Information Of The Hartford Financial Services Group, Inc. Level 1 (notes)
Schedule Ii Condensed Financial Information Of The Hartford Financial Services Group, Inc. Level 3 (tables)
Schedule Ii Condensed Financial Information Of The Hartford Financial Services Group, Inc. Level 4 Balance Sheet (details)
Schedule Ii Condensed Financial Information Of The Hartford Financial Services Group, Inc. Level 4 Cash Flow Disclosures (details)
Schedule Ii Condensed Financial Information Of The Hartford Financial Services Group, Inc. Level 4 Statements Of Operations (details)
Schedule Iii Supplementary Insurance Information Level 1 (schedule)
Schedule Iii Supplementary Insurance Information Level 3 (tables)
Schedule Iii Supplementary Insurance Information Level 4 (details)
Schedule V Valuation And Qualifying Accounts Level 1 (notes)
Schedule V Valuation And Qualifying Accounts Level 3 (tables)
Schedule V Valuation And Qualifying Accounts Level 4 (details)
Schedule Vi Supplemental Information Concerning Property And Casualty Insurance Operations Level 1 (notes)
Schedule Vi Supplemental Information Concerning Property And Casualty Insurance Operations Level 3 (tables)
Schedule Vi Supplemental Information Concerning Property And Casualty Insurance Operations Level 4 (details)
Consolidated Balance Sheets
Consolidated Balance Sheets Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity Consolidated Statement Of Changes In Stockholders' Equity
Consolidated Statements Of Comprehensive Income Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Operations Consolidated Statements Of Operations
Accumulated Other Comprehensive Income, Net Of Tax Level 1 (notes)
Accumulated Other Comprehensive Income, Net Of Tax Level 3 (tables)
Accumulated Other Comprehensive Income, Net Of Tax Level 4 (details)
Basis Of Presentation And Accounting Policies Level 1 (notes)
Basis Of Presentation And Accounting Policies Level 2 (policies)
Basis Of Presentation And Accounting Policies Level 4 (details)
Business Acquisitions, Dispositioins And Discontinued Operations Level 1 (notes)
Business Acquisitions, Dispositioins And Discontinued Operations Level 3 (tables)
Business Acquisitions, Dispositioins And Discontinued Operations Level 4 (details)
Commitments And Contingencies Level 1 (notes)
Commitments And Contingencies Level 2 (policies)
Commitments And Contingencies Level 3 (tables)
Commitments And Contingencies Level 4 (details)
Debt Level 1 (notes)
Debt Level 3 (tables)
Debt Level 4 (details)
Deferred Policy Acquisition Costs And Present Value Of Future Profits Level 1 (notes)
Deferred Policy Acquisition Costs And Present Value Of Future Profits Level 3 (tables)
Deferred Policy Acquisition Costs And Present Value Of Future Profits Level 4 (details)
Derivative Instrument Level 2 (policies)
Derivative Instrument Level 3 (tables)
Derivative Instrument Level 4 Cash Flow Hedges (details)
Derivative Instrument Level 4 Credit Risk Assumed Through Credit Derivatives (details)
Derivative Instrument Level 4 Derivative Balance Sheet Classification (details)
Derivative Instrument Level 4 Derivative Collateral Arrangement (details)
Derivative Instrument Level 4 Non-qualifying Strategies For Hedge Accounting (details)
Earnings (loss) Per Share Level 1 (notes)
Earnings (loss) Per Share Level 3 (tables)
Earnings (loss) Per Share Level 4 (details)
Employee Benefit Plans Level 1 (notes)
Employee Benefit Plans Level 3 (tables)
Employee Benefit Plans Level 4 Assumptions (details)
Employee Benefit Plans Level 4 Benefit Payments (details)
Employee Benefit Plans Level 4 Cash Flows (details)
Employee Benefit Plans Level 4 Defined Benefit Plan, Information About Plan Assets (details)
Employee Benefit Plans Level 4 Investment And Savings Plan (details)
Employee Benefit Plans Level 4 Net Periodic Benefits Cost And Other Recognized In The Oci (details)
Employee Benefit Plans Level 4 Obligations And Funded Status (details)
Equity Level 1 (notes)
Equity Level 3 (tables)
Equity Level 4 Capital Purchase Program (details)
Equity Level 4 Dividends From Insurance Subsidiaries (details)
Equity Level 4 Equity Repurchase Program (details)
Equity Level 4 Statutory Net Income (loss) And Statutory Surplus (details)
Fair Value Measurements Level 1 (notes)
Fair Value Measurements Level 2 (policies)
Fair Value Measurements Level 4 Fair Value By Hierarchy (details)
Fair Value Measurements Level 4 Fair Value Level 3 Roll Forward (details)
Fair Value Measurements Level 4 Fair Value Option (details)
Fair Value Measurements Level 4 Financial Instruments Not Carried At Fair Value (details)
Fair Value Measurements Level 4 Pricing Controls, Broker Inputs, And Valuation (details)
Fair Value Measurements Level 4 Significant Unobservable Inputs (details)
Goodwill Level 1 (notes)
Goodwill Level 3 (tables)
Goodwill Level 4 (details)
Income Taxes Level 1 (notes)
Income Taxes Level 3 (tables)
Income Taxes Level 4 Current And Deferred Income Taxes (details)
Income Taxes Level 4 Deferred Tax Assets (liabilities) (details)
Income Taxes Level 4 Effective Income Tax Rate Reconciliation (details)
Income Taxes Level 4 Unrecognized Tax Benefit (expense) (details)
Investment Holding Level 1 (notes)
Investment Holding Level 3 (tables)
Investment Holding Level 4 Available-for-sale Securities (details)
Investment Holding Level 4 Concentration Of Credit Risk (details)
Investment Holding Level 4 Investment Income (details)
Investment Holding Level 4 Mortgage Loans On Real Estate (details)
Investment Holding Level 4 Net Realized Capital Gains (details)
Investment Holding Level 4 Other Than Temporary Impairment, Credit Losses Recognized In Earnings (details)
Investment Holding Level 4 Variable Interest Entities (details)
Level 3 (tables)
Quarterly Results (unaudited) Level 1 (notes)
Quarterly Results (unaudited) Level 3 (tables)
Quarterly Results (unaudited) Level 4 (details)
Reinsurance Level 1 (notes)
Reinsurance Level 3 (tables)
Reinsurance Level 4 Insurance Revenue (details)
Reinsurance Level 4 Reinsurance Recoverable (details)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 1 (notes)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 3 (tables)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 4 Average Annual Payout Of Incurred Claims By Age, Group (details)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 4 Average Annual Payout Of Incurred Claims By Age, P&c (details)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 4 Discounted Reserves, Group (details)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 4 Discounted Reserves, P&c (details)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 4 Group Benefits Liabilities For Unpaid Losses And Loss Adjustment Expenses (details)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 4 Historical Loss Development Triangles, Group (details)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 4 Historical Loss Development Triangles, P&c (details)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 4 P&c Liabilities For Unpaid Losses And Loss Adjustment Expenses (details)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 4 Prior Accident Years Reserve Development (details)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 4 Reconciliation Of Loss Development To Liability For Unpaid Losses And Loss Adjustment Expenses, Group (details)
Reserves For Unpaid Losses And Loss Adjustment Expenses Level 4 Reconciliation Of Loss Development To Liability For Unpaid Losses And Loss Adjustment Expenses, P&c (details)
Schedule Iv Reinsurance Level 1 (notes)
Schedule Iv Reinsurance Level 3 (tables)
Schedule Iv Reinsurance Level 4 (details)
Segment Information Level 1 (notes)
Segment Information Level 3 (tables)
Segment Information Level 4 (details)
Separate Accounts, Death Benefits, And Other Insurance Benefits Level 1 (notes)
Separate Accounts, Death Benefits, And Other Insurance Benefits Level 3 (tables)
Separate Accounts, Death Benefits, And Other Insurance Benefits Level 4 (details)
Stock Compensation Plans Level 1 (notes)
Stock Compensation Plans Level 3 (tables)
Stock Compensation Plans Level 4 Employee Stock Purchase Plan (details)
Stock Compensation Plans Level 4 Performance Shares (details)
Stock Compensation Plans Level 4 Restricted Unit Awards (details)
Stock Compensation Plans Level 4 Share Awards (details)
Stock Compensation Plans Level 4 Stock Compensation Plans (details)
Stock Compensation Plans Level 4 Stock Option Awards (details)
Stock Compensation Plans Level 4 Subsidiary Stock Plan (details)
Stock Compensation Plans Level 4 Total Share Awards (details)
Ticker: HIG
CIK: 874766
Form Type: 10-K Annual Report
Accession Number: 0000874766-17-000010
Submitted to the SEC: Fri Feb 24 2017 4:06:01 PM EST
Accepted by the SEC: Fri Feb 24 2017
Period: Saturday, December 31, 2016
Industry: Fire Marine And Casualty Insurance

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