$138.550
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HIG News
HIG Events
The Hartford Partners with UC Berkeley to Support Startups
The Hartford is partnering with the University of California, UC, Berkeley's Bakar Labs for Energy & Materials to help startup companies who are developing next-generation energy and materials technologies. The insurer will support the initiative, as well as provide counseling, educational programming and other mentorship opportunities to its entrepreneurial tenants. "The technologies that will power tomorrow's economy are being developed today," said Matt Scott, head of Innovation and Risk Services at The Hartford. "Through our partnership with BL-EM, we have an opportunity to engage with entrepreneurs, researchers and innovators working on some of the most promising advancements in energy and materials science. The insights we gain will help us better understand emerging risks, develop new expertise and continue supporting customers operating at the forefront of innovation."
The Hartford Acquires Equitable's Employee Benefits Business for Approximately $500M
The Hartford has entered into a definitive agreement to acquire Equitable's Employee Benefits business, which focuses on providing small and midsize employers with flexible, non-medical benefits. The acquisition, which accelerates The Hartford's Employee Benefits growth strategy, represents approximately $500M in premium, and is expected to close in the fourth quarter, subject to regulatory approvals and other customary closing conditions. "This acquisition reinforces The Hartford's leadership in employee benefits and small business," said The Hartford's Chairman and CEO Christopher Swift. "Small and midsize employers represent a strategic growth opportunity for our Employee Benefits business, and this transaction strengthens our ability to meet the evolving needs of this important business segment."
The Hartford Reports Q2 Revenue of $7.26B
Reports Q2 revenue $7.26B, consensus $7.19B. "The Hartford delivered another quarter of strong results, reflecting the strength of our franchise, the breadth of our distribution relationships and our commitment to a superior customer experience," said The Hartford's Chairman and CEO Christopher Swift. "Supported by market-leading positions and differentiated capabilities across Property and Casualty and Employee Benefits, we continue to execute with discipline while investing in technology, data, artificial intelligence and customer-focused risk insights that strengthen our competitive position and further differentiate The Hartford in the marketplace."
Travelers and Others See Significant Stock Gains
Notable gainers among liquid option names this morning include Travelers (TRV) $363.41 +25.59, Northrop Grumman (NOC) $537.05 +18.40, Caseys General Stores (CASY) $855.50 +28.46, Hartford Financial (HIG) $141.28 +4.63, and Dollar Tree (DLTR) $132.73 +4.28.
Wellington Management Acquires Hartford Funds for $1.9B
Wellington Management and The Hartford entered into a definitive agreement under which Wellington will acquire Hartford Funds, a leading provider of investment solutions for the wealth management market. Upon closing, Hartford Funds will be integrated into Wellington's U.S. Wealth business and going forward the business will operate under the Wellington brand. This transaction will allow Wellington to offer financial advisors and investors broader access to investment capabilities, a deeper distribution platform, and more integrated support across the U.S. wealth management landscape. This will be achieved by combining Wellington's global institutional investment expertise with Hartford Funds' established advisor relationships. This acquisition transforms the companies' long-term, strategic partnership into a single, full-service firm that can deliver stronger outcomes for financial advisors and investors in the decades ahead. The combined organization will be a stronger independent investment manager well-positioned to compete as the industry continues to evolve. The net present value of the transaction is estimated to be $1.9B. Under the agreement, The Hartford will receive $300M in cash at closing and additional payments based on the available after-tax cash generated by the combination of Hartford Funds' business and Wellington's business supporting Hartford Funds, including the sale of certain other Wellington-sponsored products in the U.S. wealth market, over 7 years following the close of the transaction. The deal is expected to close in the first quarter of 2027, subject to regulatory and fund approvals.
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