This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Hartford Reports Fourth Quarter And Full Year 2013 Financial Results; Announces 2014 Outlook And Capital Management Plan For 2014 And 2015

Fourth quarter 2013 underwriting gain was $128 million, a substantial improvement compared with a loss of $229 million in fourth quarter 2012, as a result of improved current accident year results and lower catastrophe losses. Catastrophe losses totaled $28 million, before tax, in fourth quarter 2013, a substantial decline from fourth quarter 2012 catastrophe losses of $335 million, before tax, which included significant losses from Storm Sandy. PYD had a relatively modest impact on underwriting results in both periods, totaling an unfavorable $15 million, before tax, in fourth quarter 2013 compared with an unfavorable $9 million, before tax, in fourth quarter 2012.

Fourth quarter 2013 combined ratio was 94.9 compared with 109.2 in fourth quarter 2012. Before catastrophes and PYD, the P&C (Combined) fourth quarter 2013 combined ratio improved 2.2 points to 93.2 compared with 95.4 in fourth quarter 2012, reflecting pricing and underwriting initiatives in P&C Commercial.

Fourth quarter 2013 written premiums increased 2% over the prior year period, reflecting 1% growth in P&C Commercial and 3% growth in Consumer Markets.

P&C CommercialFourth Quarter 2013 Highlights:

  • Underwriting gain improved to $98 million compared with a loss of $193 million in fourth quarter 2012 due to lower catastrophe losses and better current accident year results
  • Standard Commercial renewal written pricing increased 8% in fourth quarter 2013, consistent with the last five quarters
  • Middle Market workers' compensation represented 30% of new business, compared with 38% in fourth quarter 2011
P&C COMMERCIAL              
($ in millions)       Three Months Ended
        Dec. 31 2013     Dec. 31 2012     Change
Underwriting gain (loss)       $98     $(193)     NM
Combined ratio       93.7     112.3     18.6
Combined ratio before catastrophes and PYD       92.5     97.8     5.3
Small Commercial       85.9     92.8     6.9
Middle Market       94.8     99.0     4.2
Specialty       100.6     111.2     10.6
Written premiums       $1,463     $1,454     1%
Standard commercial price increases       8%     8%    
 

P&C Commercial underwriting gain was $98 million in fourth quarter 2013 versus a loss of $193 million in fourth quarter 2012 due to lower catastrophe losses and better current accident year results in each of its three businesses (Small Commercial, Middle Market and Specialty.) Fourth quarter 2013 catastrophe losses totaled $7 million, before tax, compared with $209 million, before tax, in fourth quarter 2012, due to Storm Sandy.

4 of 16

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,992.53 -133.59 -0.74%
S&P 500 2,106.65 -14.14 -0.67%
NASDAQ 5,062.9770 -34.9990 -0.69%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs