Q1 snap: good underlying quality
HIG delivered an 19% operating EPS beat with lower catastrophes and higher reserve releases than anticipated. But the underlying quality was also good and we calculate a normalised EPS beat of 4%. Net written premiums were a little lighter than our forecast, particularly in Personal, but the underlying combined ratio of 90.3% was down 150bp YoY, which was a very good result. Encouragingly, the underlying combined ratio in Personal was 89.8%, below the 2018 guidance range of 90.5-92.5% with Personal Auto down 240bp to 94.2%. Overall, this looks like a good result.Hartford Financial Services Group is a holding company. Through its subsidiaries, the company provides property and casualty insurance, group benefits insurance and services, and mutual funds and exchange-traded products. The company has five segments: Commercial Lines, which provides automobile, property, general liability, and marine coverages; Personal Lines, which provides automobile and homeowners coverages; Property and Casualty Other Operations, which provides group life, group disability, and other products; and Hartford Funds, which provides mutual fund, exchange-traded products, and Talcott Resolution life and annuity separate accounts.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.