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Hartford Financial Services Group Incde (HIG) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Hartford Financial Services Group Incde

CIK: 874766 Ticker: HIG


        
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NEWS RELEASE


The Hartford Announces Fourth Quarter 2018 Financial Results And $1.0 Billion Share Repurchase Authorization; Also Provides 2019 Key Business Metrics Outlook

Fourth quarter 2018 income from continuing operations, after tax, totaled $196 million ($0.52 per diluted share1) compared with a loss from continuing operations, after tax, of $558 million ($1.56 per diluted share) in fourth quarter 2017, which included an $877 million charge related to U.S. corporate tax reform

Fourth quarter 2018 core earnings* of $284 million ($0.78 per diluted share*) decreased slightly from $293 million ($0.81 per diluted share) in fourth quarter 2017 as higher catastrophe losses in property and casualty (P&C) offset increased core earnings in Group Benefits and Hartford Funds and the benefit of a lower U.S. corporate tax rate in 2018

Full year 2018 income from continuing operations, after tax, totaled $1,485 million ($4.06 per diluted share1) compared with a loss from continuing operations, after tax, of $262 million ($0.72 per diluted share) in 2017. Full year 2018 core earnings grew 55% to $1,575 million ($4.33 per diluted share) from $1,014 million ($2.74 per diluted share) in 2017

Full year 2018 P&C combined ratio of 97.8 improved 2.2 points from 2017 due to a lower current accident year loss ratio before catastrophes and higher favorable prior accident year development (PYD); full year 2018 P&C underlying combined ratio* improved 1.0 point to 91.5

The Hartford also announced a share repurchase authorization of $1.0 billion, effective through Dec. 31, 2020

In addition, the company provided its outlook for 2019 key business metric ranges for Commercial Lines and Personal Lines combined ratios and Group Benefits margins


[1] Calculated based on $190 million and $1,479 million of income from continuing operations available to common shareholders, after tax, for the three and twelve month periods ended Dec. 31, 2018, respectively

* 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

1

The following information was filed by Hartford Financial Services Group Incde (HIG) on Monday, February 4, 2019 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
Schedule I Summary Of Investments - Other Than Investments In Affiliates (Details)
Schedule Ii Condensed Financial Information Of The Hartford Financial Services, Inc.
Schedule Ii Condensed Financial Information Of The Hartford Financial Services, Inc. - Balance Sheet (Details)
Schedule Ii Condensed Financial Information Of The Hartford Financial Services, Inc. - Cash Flow Disclosures (Details)
Schedule Ii Condensed Financial Information Of The Hartford Financial Services, Inc. - Statements Of Operations (Details)
Schedule Iii Supplementary Insurance Information
Schedule Iii Supplementary Insurance Information (Details)
Schedule Iv Reinsurance
Schedule Iv Reinsurance (Details)
Schedule V Valuation And Qualifying Accounts
Schedule V Valuation And Qualifying Accounts (Details)
Schedule Vi Supplementary Information Concerning Property And Casualty Insurance Operations
Schedule Vi Supplementary Information Concerning Property And Casualty Insurance Operations (Details)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Changes In Stockholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Basis Of Presentation And Significant Accounting Policies
Basis Of Presentation And Significant Accounting Policies (Details)
Basis Of Presentation And Significant Accounting Policies Revenue From Non-Insurance Contracts (Tables)
Business Acquisitions
Business Acquisitions (Tables)
Business Acquisitions - Additional Information (Details)
Business Acquisitions - Fair Value Of Assets Acquired And Liabilities Assumed At The Acquisition Date (Details)
Business Acquisitions - Fair Value Of Consideration Transferred (Details)
Business Acquisitions - Intangible Assets Recorded In Connection With The Acquisition (Details)
Business Acquisitions - Pro Forma Information (Details)
Business Dispositions And Discontinued Operations
Business Dispositions And Discontinued Operations - Additional Information (Details)
Business Dispositions And Discontinued Operations (Tables)
Business Dispositions And Discontinued Operations - Cash Flows From Discontinued Operations (Details)
Business Dispositions And Discontinued Operations - Major Classes Of Assets And Liabilities Transferred By The Company To The Buyer In Connection With Sale (Details)
Business Dispositions And Discontinued Operations - Reconciliation Of The Major Line Items Constituting Pretax Profit (Loss) Of Discontinued Operations (Details)
Changes In And Reclassifications From Accumulated Other Comprehensive Income (Loss)
Changes In And Reclassifications From Accumulated Other Comprehensive Income (Loss) (Tables)
Changes In And Reclassifications From Accumulated Other Comprehensive Income (Loss) - Aoci Rollforward (Details)
Changes In And Reclassifications From Accumulated Other Comprehensive Income (Loss) - Reclassification From Aoci (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Lease Commitments (Details)
Debt
Debt - Short-Term And Long-Term Debt By Issuance (Details)
Debt (Tables)
Debt - Additional Information (Details)
Debt - Junior Subordinated Debt (Details)
Debt - Long-Term Debt Maturities (Details)
Debt - Senior Notes (Details)
Deferred Policy Acquisition Costs
Deferred Policy Acquisition Costs (Details)
Deferred Policy Acquisition Costs (Tables)
Derivatives
Derivatives (Tables)
Derivatives - Additional Information (Details)
Derivatives - Cash Flow Hedges (Details)
Derivatives - Credit Risk Assumed Through Credit Derivatives (Details)
Derivatives - Derivative Balance Sheet Classification (Details)
Derivatives - Fair Value Hedges - Non-Qualifying Strategies (Details)
Derivatives - Offsetting Derivative Assets And Liabilities (Details)
Earnings Per Common Share
Earnings Per Common Share - Computation Of Basic And Diluted Earnings Per Common Share (Details)
Earnings Per Common Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Amounts Recognized In The Consolidated Balance Sheets (Details)
Employee Benefit Plans - Assumptions, Additional Information (Details)
Employee Benefit Plans - Benefit Payments (Details)
Employee Benefit Plans - Cash Flows (Details)
Employee Benefit Plans - Change In Benefit Obligation (Details)
Employee Benefit Plans - Change Plan Assets (Details)
Employee Benefit Plans - Components Of Net Periodic Benefit Cost (Benefit) And Other Amounts Recognized In Other Comprehensive Income (Loss), Additional Information (Details)
Employee Benefit Plans - Defined Benefit Pension Plans With An Accumulated Benefit Obligations In Excess Of Plan Assets (Details)
Employee Benefit Plans - Defined Benefit Plan, Information About Plan Assets (Details)
Employee Benefit Plans - Health Care Cost Trend Rate (Details)
Employee Benefit Plans - Investment And Savings Plan, Additional Information (Details)
Employee Benefit Plans - Net Periodic Benefits Cost And Other Recognized In The Oci (Details)
Employee Benefit Plans - Obligations And Funded Status, Additional Information (Details)
Employee Benefit Plans - Weighted Average Assumptions Used In Calculating The Benefits Obligations And Net Amount Recognized (Details)
Employee Benefit Plans - Weighted Average Assumptions Used In Calculating The Net Periodic Benefit Cost (Details)
Equity
Equity (Tables)
Equity - Capital Purchase Program, Additional Information (Details)
Equity - Dividend Restrictions, Additional Information (Details)
Equity - Equity Repurchase Program (Details)
Equity - Preferred Stock (Details)
Equity - Restricted Net Assets, Additional Information (Details)
Equity - Statutory Results (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Details)
Fair Value Measurements - Changes In Unrealized Gains (Losses) Included In Net Income For Financial Instruments Classified As Level 3 Still Held At Year End (Details)
Fair Value Measurements - Fair Value By Hierarchy (Details)
Fair Value Measurements - Fair Value Option (Details)
Fair Value Measurements - Fair Value Recurring Basis, Unobservable Input (Details)
Fair Value Measurements - Financial Instruments Not Carried At Fair Value (Details)
Fair Value Measurements - Significant Unobservable Inputs - Securities (Details)
Fair Value Measurements - Significant Unobservable Inputs Freestanding Derivatives (Details)
Goodwill &Amp; Other Intangible Assets
Goodwill &Amp; Other Intangible Assets (Tables)
Goodwill &Amp; Other Intangible Assets - Expected Amortization Expense (Details)
Goodwill &Amp; Other Intangible Assets - Goodwill Carrying Value (Details)
Goodwill &Amp; Other Intangible Assets - Other Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Deferred Tax Assets (Liabilities) (Details)
Income Taxes - Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Income Tax Expense (Benefit) (Details)
Income Taxes - Unrecognized Tax Benefit (Expense) (Details)
Investments
Investments (Tables)
Investments - Additional Information (Details)
Investments - Available-For-Sale Securities (Details)
Investments - Commercial Mortgage Loans Credit Quality (Details)
Investments - Mortgage Loans By Region And Property Type (Details)
Investments - Mortgage Loans- Valuation Allowance Activity (Details)
Investments - Net Investment Income (Details)
Investments - Net Realized Capital Gains (Details)
Investments - Other Than Temporary Impairment (Details)
Investments - Sales Of Available For Sale Securities (Details)
Investments - Securities Lending And Repurchase Agreements (Details)
Investments - Unrealized Losses On Afs Securities (Details)
Quarterly Results (Unaudited)
Quarterly Results (Unaudited) (Details)
Quarterly Results (Unaudited) (Tables)
Reinsurance
Reinsurance (Tables)
Reinsurance - Reinsurance Recoverables (Details)
Reinsurance - Additional Information (Details)
Reinsurance - Insurance Revenue (Details)
Reserve For Future Policy Benefits
Reserve For Future Policy Benefits (Details)
Reserve For Future Policy Benefits (Tables)
Reserve For Unpaid Losses And Loss Adjustment Expenses
Reserve For Unpaid Losses And Loss Adjustment Expenses (Tables)
Reserve For Unpaid Losses And Loss Adjustment Expenses - Additional Information (Details)
Reserve For Unpaid Losses And Loss Adjustment Expenses - Average Annual Payout Of Incurred Claims By Age, Group (Details)
Reserve For Unpaid Losses And Loss Adjustment Expenses - Average Annual Payout Of Incurred Claims By Age, P&Amp;C (Details)
Reserve For Unpaid Losses And Loss Adjustment Expenses - Discounted Reserves, Group (Details)
Reserve For Unpaid Losses And Loss Adjustment Expenses - Discounted Reserves, P&Amp;C (Details)
Reserve For Unpaid Losses And Loss Adjustment Expenses - Group Benefits Liabilities For Unpaid Losses And Loss Adjustment Expenses (Details)
Reserve For Unpaid Losses And Loss Adjustment Expenses - Historical Loss Development Triangles, Group (Details)
Reserve For Unpaid Losses And Loss Adjustment Expenses - Historical Loss Development Triangles, P&Amp;C (Details)
Reserve For Unpaid Losses And Loss Adjustment Expenses - P&Amp;C Liabilities For Unpaid Losses And Loss Adjustment Expenses (Details)
Reserve For Unpaid Losses And Loss Adjustment Expenses - Prior Accident Years Reserve Development (Details)
Reserve For Unpaid Losses And Loss Adjustment Expenses - Reconciliation Of Loss Development To Liability For Unpaid Losses And Loss Adjustment Expenses, Group (Details)
Reserve For Unpaid Losses And Loss Adjustment Expenses - Reconciliation Of Loss Development To Liability For Unpaid Losses And Loss Adjustment Expenses, P&Amp;C (Details)
Segment Information
Segment Information - Revenues (Details)
Segment Information (Tables)
Segment Information - Additional Information (Details)
Segment Information - Amortization Of Deferred Policy Acquisition Costs (Details)
Segment Information - Amortization Of Other Intangible Assets (Details)
Segment Information - Assets (Details)
Segment Information - Income Tax Expense (Details)
Segment Information - Net Income (Details)
Segment Information - Net Investment Income (Details)
Significant Accounting Policies (Policies)
Stock Compensation Plans
Stock Compensation Plans (Tables)
Stock Compensation Plans - Additional Information (Details)
Stock Compensation Plans - Performance Shares (Details)
Stock Compensation Plans - Stock Compensation Plans (Details)
Stock Compensation Plans - Stock Option Awards (Details)
Stock Compensation Plans - Total Share Awards (Details)
Ticker: HIG
CIK: 874766
Form Type: 10-K Annual Report
Accession Number: 0000874766-19-000018
Submitted to the SEC: Fri Feb 22 2019 11:09:46 AM EST
Accepted by the SEC: Fri Feb 22 2019
Period: Monday, December 31, 2018
Industry: Fire Marine And Casualty Insurance

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