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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Unfavorable PYD decreased to $12 million, before tax, in fourth quarter 2013 compared with $18 million, before tax, in fourth quarter 2012. Unfavorable PYD in fourth quarter 2013 was largely related to the package business, which was partially offset by favorable development on workers’ compensation, principally for older accident years.

The combined ratio before catastrophes and PYD improved to 92.5 in fourth quarter 2013 compared with 97.8 in fourth quarter 2012, reflecting improved underwriting margins in Small Commercial, Middle Market and Specialty. Before catastrophes and PYD, the fourth quarter 2013 combined ratio for Small Commercial was 85.9, a 6.9 point improvement from 92.8 in fourth quarter 2012, while Middle Market improved by 4.2 points to 94.8 from 99.0 in fourth quarter 2012 and Specialty improved 10.6 points to 100.6 from 111.2 in fourth quarter 2012.

Renewal written pricing in Standard Commercial, which is comprised of Small Commercial and Middle Market, remained strong in fourth quarter 2013, reflecting price increases in all business lines. Renewal written pricing increased 8% in Standard Commercial, consistent with the last five quarters. Small Commercial renewal written pricing increases averaged 8%, including an increase of 11% in commercial auto. Middle Market renewal written pricing increases averaged 7%, reflecting increases of 8% in both workers' compensation and property and 10% in commercial auto.

Written premiums grew 1% from $1,454 million in fourth quarter 2012 to $1,463 million in fourth quarter 2013, driven by growth in Small Commercial and Middle Market, which were up 1% and 2%, respectively. Written premium growth reflects higher pricing on renewals in Small Commercial, stronger new business production in Middle Market and solid retention in both business lines. New business premium for Small Commercial and Middle Market totaled $213 million, up 13% from $189 million in fourth quarter 2012 driven by Middle Market property and general liability. Policy count retention in Small Commercial was 82% in fourth quarter 2013 compared with 83% in fourth quarter 2012. Middle Market policy count retention for fourth quarter 2013 was 79%, flat versus fourth quarter 2012.

5 of 16

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,083.80 -2.83 -0.02%
S&P 500 1,987.98 +0.97 0.05%
NASDAQ 4,472.1080 -1.5890 -0.04%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs