Any forward-looking statement made by the Company in this document speaks only as of the date of this release. Underlying loss and loss adjustment expense ratio before COVID-19 losses- Get introduced to our basic, supplemental and voluntary programs. First quarter core earnings of $561 million, or $1.66 per diluted share, rose 176% from first quarter 2021. Policies underwritten by the issuing companies listed above detail exclusions, limitations, reduction of benefits and terms under which the policies may be continued in force or discontinued. Enter the following information in order to retrieve your username and password. [aw9Av HJ}0oMM!`OxiB;Y9Qe8\"NIFV];?Y8c@^+TTP-Vh!(cj)e5B}Ij0 fQ Please fix errors indicated below. Consolidating Income Statements" and in The Hartford's Investor Financial Supplement for the quarter ended March 31, 2022. Prevail is contributing to new business growth and rate filings will address inflation and supply chain pressures in both auto and homeowners. - This is a non-GAAP per share measure that is calculated by dividing (a) common stockholders' equity, excluding AOCI, after tax, by (b) common shares outstanding and dilutive potential common shares. This is a one-time use code and there is no reason to save it. Underwriting profitability over time is also greatly influenced by The Hartford's underwriting discipline, as management strives to manage exposure to loss through favorable risk selection and diversification, effective management of claims, use of reinsurance and its ability to manage its expenses. The Hartford, The Hartford at Work group benefits from the Hartford. Return to the Homepage. Discover how The Hartford goes beyond claims for customers. A reconciliation of the combined ratio to the underlying combined ratio before COVID-19 losses is set forth below. Submit a return to work note from your medical provider that clearly indicates whether your return is with or without restrictions to the LOA Accommodations team via e-mail at. Report a Claim. Underwriting gain (loss) is influenced significantly by earned premium growth and the adequacy of The Hartford's pricing. Tough times call for hard-working benefits thatll help get you through it. The Hartford believes that core earnings provides investors with a valuable measure of the performance of the Companys ongoing businesses because it reveals trends in our insurance and financial services businesses that may be obscured by including the net effect of certain items. Get a certificate of insurance Pay a bill Request or quote policy changes Prepare for a premium audit Go paperless View policy documents Check and file claims Other Resources for Your Business Workers' Compensation Posting Notices Business Owner's Playbook Small Biz Ahead Get a New Policy Solutions for every need: short-term, long-term, employer-paid, voluntary. Make One-Time Payment What can you do in your account? Personal Lines core earnings of $84 million decreased by $47 million due to: Combined ratio of 90.4 in first quarter 2022 increased 7.3 points relative to first quarter 2021, primarily due to lower net favorable PYD and a higher underlying combined ratio, partially offset by lower CAY CAT losses. I need to request a leave of absence for a personal disability. From time to time, The Hartford may use its website and/or social media outlets, such as Twitter and Facebook, to disseminate material company information. From income protection plans to a fast and easy claims process, we are here for you. If you have not received the code or still have trouble signing in, please call member services. Submit claims, check status of disability or leave, and see payments. A reduced schedule leave reduces an eligible team members usual number of working hours per workweek, or hours per workday. A reconciliation of net income (loss) available to common stockholders per diluted common share to core earnings per diluted share for the quarterly periods ended March 31, 2022 and 2021 is provided in the table below. Contact the employer/policyholder for assistance if you are uncertain of other coverage. Certain realized gains and losses - Some realized gains and losses are primarily driven by investment decisions and external economic developments, the nature and timing of which are unrelated to the insurance and underwriting aspects of our business. APPLICATION FOR SHORT TERM DISABILITY INCOME BENEFITS. If you have a communicable disease or are out on a Workers Compensation leave, you must report to your local Occupational Health office to be cleared prior to returning to work. h222S0PwqH)BDKP5/9?%3/pqsO ( MAQ.I Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Its quick and easy to start your claim online. The companys investments with Russian exposure have an amortized cost of $16 million and a fair value of $7 million. After Registering, You'll Be Able To: Pay Bills Automatically * Customer reviews are collected and tabulated by The Hartford and not representative of all customers. Net income (loss) is the most directly comparable GAAP measure. The customer base with the AARP / Hartford insurance is over 49 1/2; however, majority are 60+. If documentation is not provided within 15 days, the leave may be denied. A reconciliation of net income to underwriting results for the quarterly periods ended March 31, 2022 and 2021, is set forth below. The auto underlying combined ratio of 93.3 increased 7.0 points from first quarter 2021, primarily due to higher auto frequency and severity and a higher expense ratio, partially offset by an increase in earned pricing. An increase in homeowners primarily due to an increase in new business and the effect of written pricing increases, partially offset by slightly lower policy count retention. Virginia's insurance code now includes voluntary Paid Family Leave as a new form of insurance. You only need to fill in what you know. number. questions below. Core Earnings Return on Equity M#`56 4L&0]x7)S JUST FOLLOW THESE STEPS: STEP 1 Review the list on the back of this page to determine if your health screening may be eligible for the benefit. You are about to be logged out due to inactivity. LimelightPlayerUtil.initEmbed('limelight_player_494383'); Once you've entered the information below, it should take about 5-10 minutes to complete your claim. 192. The Hartford Member Portal Skip to content Sign into your account Username Password Sign in Create account Forgot your username or password? Q. Loss (income) from limited partnerships and other alternative assets, Net investment income excluding limited partnerships and other alternative investments, Underlying combined ratio- Net income (loss) available to common stockholders per diluted common share is the most directly comparable GAAP measures. - This non-GAAP measure of underwriting profitability represents underwriting gain (loss) before current accident year catastrophes, PYD and current accident year change in loss reserves upon acquisition of a business. Hospital Indemnity You or a covered dependent were hospitalized. Certain of the statements contained herein are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are about to be logged out due to inactivity. A reconciliation of net income (loss) to core earnings for the quarterly periods ended March 31, 2022 and 2021, is included in this press release. Total disability loss ratio of 73.2% increased 4.8 points compared with first quarter 2021, primarily due to less favorable prior incurral year development on long-term disability as the 2021 period benefitted from low incidence levels from earlier in the pandemic. 25 0 obj <> endobj 49 0 obj <>/Encrypt 26 0 R/Filter/FlateDecode/ID[<9449A312FB3F4288A1BDB40EE62221DA><4E239AEA51FE45EB89565951F176C0F9>]/Index[25 44]/Info 24 0 R/Length 105/Prev 249676/Root 27 0 R/Size 69/Type/XRef/W[1 2 1]>>stream SMS Email Use my authenticator app NextCancel Enter security code For additional security, we need to verify your identity before you can sign in to the account. An increase in insurance operating costs and other expenses, primarily driven by higher technology costs, higher claim costs to handle elevated claim levels resulting from the pandemic and a decrease in the allowance for credit losses on premiums receivable in the 2021 period, partially offset by incremental savings from the Hartford Next program and a reduction in AARP direct marketing costs. matthew.sturdevant@thehartford.com, Investor Contact: Email or fax at 1-848-245-8453 to process your return to work. The Hartford is off to a strong start in 2022 delivering a trailing 12-month core earnings ROE of 14.8%. For your security, you will be disconnected from this system if your computer is inactive for 15 minutes. The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries, including underwriting companies Hartford Life and Accident Insurance Company and Hartford Fire Insurance Company, under the brand name, The Hartford. ** All amounts and percentages set forth in this press release are approximate unless otherwise noted. Accordingly, core earnings excludes the effect of all realized gains and losses that tend to be highly variable from period to period based on capital market conditions. Net income available to common stockholders' ROE (net income ROE) was 15.4% for the twelve month period ending March 31, 2022. Total losses and loss adjustment expenses, Underlying loss and loss adjustment expenses, Underlying loss and loss adjustment expenses before COVID-19 losses. Code, please enter it in the field below and click "Next". under no circumstances shall we be liable to you or any third party on account of any claim, loss or damage (whether based upon principles of contract, warranty, misrepresentation, negligence or other tort, breach of any statutory duty, principles of indemnity, the failure of any limited remedy to achieve its essential purpose, or otherwise . Excess mortality losses were $96 million before tax in first quarter 2022 compared with $185 million in first quarter 2021. We'll send you an Identification Code so we can so we can verify your identity. We solemnly swear not to clog your inbox. The most directly comparable GAAP measure is net income (loss). When you receive your 8-digit Identification We sent a one-time security code to {#maskedTwoFactorSMS}. We sent a one-time security code to to your configured email address. Critical Illness/Specified Disease You or a covered dependent have been diagnosed with a serious illness. Get the help you need and the support youre looking for by. Higher renewal written price increases in auto in response to recent increases in loss cost trends. Log In The Hartford's Future of Benefits Study First quarter 2022 net income available to common stockholders was $440 million, or $1.30 per diluted share, up 80% from first quarter 2021, primarily due to a $435 million, before tax, change from an underwriting loss* to an underwriting gain in first quarter 2022 and a decrease in excess mortality in group life, partially offset by a $225 million, before tax, change to net realized losses in first quarter 2022. For additional security, we need to verify your identity before you can sign in to the account. The underlying loss and loss adjustment expense ratio before COVID-19 losses is an important measure of the trend in profitability since it removes the impact of volatile and unpredictable catastrophe losses, prior accident year reserve development and COVID-19 incurred losses. 1 star. Manage my personal policy, bills and claims. Core earnings - The Hartford uses the non-GAAP measure core earnings as an important measure of the Companys operating performance. Core earnings ROE is calculated based on non-GAAP financial measures. Quarter after quarter results illustrate how our strategy translates into a consistent and sustainable financial performance. For additional security, we need to verify your identity before you can sign in to the account. Make sure you have the following: Policy number Billing Zip code Accident details It's time to upgrade! President Doug Elliot added, During the first quarter, our Property & Casualty business sustained the momentum built during 2021. susan.spivak@thehartford.com. Change in loss reserves upon acquisition of a business - These changes in loss reserves are excluded from core earnings because such changes could obscure the ability to compare results in periods after the acquisition to results of periods prior to the acquisition. A decrease in the Commercial Lines underlying loss and loss adjustment expense ratio before COVID-19 incurred losses* of 0.8 points to 56.1% in first quarter 2022 from 56.9% in first quarter 2021. The underlying loss and loss adjustment expense ratio was flat as an increase in severity was offset by lower frequency of weather claims and the effect of earned pricing increases. The increase in the expense ratio to 27.6 was driven by higher technology costs and the effect of a decline in earned premium, partially offset by lower AARP direct marketing costs and incremental savings from the Hartford Next program. Core earnings of $8 million in first quarter 2022 improved from a loss of $3 million in first quarter 2021 primarily due to lower excess mortality losses in group life and the effect of higher fully insured ongoing premiums, partially offset by a higher loss ratio before considering excess mortality, higher operating expenses and modestly lower net investment income. This limited benefit plan (1) does not constitute major medical coverage, and (2) does not satisfy the individual mandate of the Affordable Care Act (ACA) because the coverage does not meet the requirements of minimum essential coverage. The Hartfords claims team brings the right support at the right time. Our customers paid an average of $88 a month for general liability insurance and $70 a month for workers' compensation insurance. - This non-GAAP measure is calculated as (a) the annualized net investment income, on a Consolidated, P&C or Group Benefits level, excluding limited partnerships and other alternative investments, divided by (b) the monthly average invested assets at amortized cost, excluding repurchase agreement and securities lending collateral, derivatives book value, and limited partnerships and other alternative investments. Net income ROE for the trailing 12 months of 15.4% and core earnings ROE* for the same period of 14.8%. Partially offset by lower CAY CAT losses with catastrophes of $17 million before tax in first quarter 2022 driven by tornado, wind and hail events in the Southeast and winter storms along the East Coast. %XLNT$) HTR. Annualized investment yield, excluding limited partnerships and other alternative investments Underlying combined ratio was 88.3, improving 2.9 points from first quarter 2021 due to COVID-19 losses incurred in first quarter 2021, a lower underwriting expense ratio and lower loss ratios before COVID-19. h21R0Pw/+Q0,H/-K-0 Underlying combined ratio of 88.5 was 5.0 points higher than first quarter 2021, primarily due to higher auto loss costs and, to a lesser extent, a higher expense ratio. What do I need to do? Integration and other non-recurring M&A costs - These costs, including transaction costs incurred in connection with an acquired business, are incurred over a short period of time and do not represent an ongoing operating expense of the business. - This non-GAAP per share measure is calculated using the non-GAAP financial measure core earnings rather than the GAAP measure net income. 860-547-8664 All benefits are subject to the terms and conditions of the policy. A reconciliation of net income margin to core earnings margin for the quarterly periods ended March 31, 2022 and 2021, is set forth below. Our Future of Benefits study provides insights into employee benefit trends and the evolving needs of the U.S. workforce. Submit claims, check status of disability or leave, and see payments. Favorable P&C prior accident year development (PYD) within core earnings of $33 million, before tax, in first quarter 2022, driven by reserve decreases in workers compensation, compared with $232 million of unfavorable PYD in first quarter 2021 that was primarily due to a reserve increase for general liability driven by the initial settlement with BSA on sexual abuse claims. Renewal written price increases in homeowners of 8.8% in first quarter 2022. How do I get started? Forgot your password? Please try again later or call us at 1-860-547-5000. Combined ratio is the most directly comparable GAAP measure. When should I file a claim? Forward-looking statements can be identified by words such as anticipates, intends, plans, seeks, believes, estimates, expects, projects, and similar references to future periods. Deferred gain resulting from retroactive reinsurance and subsequent changes in the deferred gain - Retroactive reinsurance agreements economically transfer risk to the reinsurers and including the full benefit from retroactive reinsurance in core earnings provides greater insight into the economics of the business. Commercial underwriting results were outstanding with expanding margin contributions from each business. First quarter 2022 core loss of $48 million decreased $12 million compared with first quarter 2021 core loss of $60 million primarily due to a loss of $8 million before tax in the 2021 period from the companys previously owned equity interest in Talcott Resolution and a higher tax benefit in the 2022 period for stock-based compensation, partially offset by an increase in interest expense. March 31, 2022, book value per diluted share of $46.36 decreased 10% from $51.36 at Dec. 31, 2021, principally due to a change from net unrealized gains to net unrealized losses on investments within AOCI as a result of an increase in interest rates and wider credit spreads. Choose how you want to receive or enter your security code. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com. An increase in the group disability loss ratio primarily reflecting less favorable prior incurral year development on long-term disability and an increase in the group life loss ratio before considering excess mortality claims due to a higher loss ratio under group accidental death claims business. Understand who to contact for specific leave-related questions, Download the Personal Disability Reference Guide. Net income of $77 million in first quarter 2022 was down $58 million from first quarter 2021 largely driven by a $55 million before tax decrease in underwriting gain and a $16 million before tax change to net realized losses in first quarter 2022. Please note that we have hidden parts of your contact information for security reasons. Risks Relating to Economic, Political and Global Market Conditions: Insurance Industry and Product-Related Risks: Financial Strength, Credit and Counterparty Risks: Risks Relating to Estimates, Assumptions and Valuations: First quarter 2022 net income available to common stockholders of $440 million ($1.30 per diluted share) increased 80% from the 2021 period, and core earnings* of $561 million (core earnings per diluted share* of $1.66) were up 176% from the prior year quarter. %PDF-1.7 % Didn't receive a code? I'm not sure It's okay - you can call us at (866)547-4205 for assistance, or follow the prompts in the claim form. Team members taking an approved intermittent leave for their own health condition or during pregnancy will draw from their ESL for each intermittent leave day taken. You must call 30 days in advance of the leave, if possible . Group Benefits fully insured ongoing premiums were up 5%, compared with first quarter 2021, driven by an increase in exposure on existing accounts and strong persistency. For additional details, please read https://www.thehartford.com/legal-notice. EMPLOYER/POLICYHOLDER INFORMATION Employer/Policyholder Name Policy Number Underwriting gain (loss) is a before tax non-GAAP measure that represents earned premiums less incurred losses, loss adjustment expenses and underwriting expenses. my experience has been that folks want to trust the insurance company and . Underlying underwriting gain (loss) Underwriting gain (loss) We sent a one-time security code to to your configured number. The combined ratio is the most directly comparable GAAP measure. Start a Claim Not Here to Start a Claim? The changes to loss reserves upon acquisition of a business are excluded from underlying combined ratio because such changes could obscure the ability to compare results in periods after the acquisition to results of periods prior to the acquisition as such trends are valuable to our investors' ability to assess the Company's financial performance. Do not check if you are on a public or shared computer. Once you've entered the information below, it should take about 5-10 minutes to complete your claim. && %9)vv P Whenever you need it. Report a Workers' Compensation Claim What you'll need 1 The policy number. fO^_a3MH&4Vz-Xm5ItN Actual results could differ materially from expectations depending on the evolution of various factors, including the risks and uncertainties identified below, as well as factors described in such forward-looking statements; or in The Hartfords 2021 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and our other filings with the Securities and Exchange Commission. If someone was injured, or if the claim is for a different kind of vehicle, call 800-243-5860 to file your claim. Because The Hartford's calculation of these measures may differ from similar measures used by other companies, investors should be careful when comparing The Hartford's non-GAAP financial measures to those of other companies. Earned premiums 2,235 734 1,374 4,343 Fee income 9 8 44 282 12 355 Net investment income 327 35 16 127 1 3 509 Other revenue 1 19 (8 ) 12 Net realized gains (losses) 44 7 2 19 2 6 80 Total revenues. Its so much more than productivity. See how were changing the game. I am writing a review about The Hartford national contact 1-800 service, not a local California office. Loss ratio of 81.9% decreased 2.4 points from first quarter 2021 with a decrease in group life due to lower excess mortality, partially offset by an increase in group disability: Expense ratio of 25.9% increased 0.6 points from first quarter 2021, primarily driven by higher claim costs to handle elevated claim levels resulting from the pandemic and an increase in technology costs, partially offset by expense savings from the Hartford Next operational transformation and cost reduction program, and higher earned premiums. Submit claims, check status of disability or leave, and see payments. First quarter 2022 consolidated net investment income of $509 million was flat to first quarter 2021 as greater income from limited partnerships and other alternative investments and the effect of a higher level of invested assets was offset by a lower yield on fixed maturities resulting from reinvesting at lower rates in 2021. Resend. Income from LPs, including from private equity and other funds, is generally reported on a three-month lag. The Hartford will discuss its first quarter 2022 financial results on a webcast at 9:00 a.m. EDT on Friday, April 29, 2022. Total group life loss ratio improved 9.9 points, to 98.4%, primarily due to lower excess mortality, primarily caused by direct and indirect impacts of COVID-19. The information you've entered is invalid, please try again. For additional security, we need to verify your identity before you can sign in to the account. The Company believes underlying underwriting gain (loss) is important to understand the Companys periodic earnings because the volatile and unpredictable nature (i.e., the timing and amount) of catastrophes and prior accident year reserve development could obscure underwriting trends. To find an Express Scripts pharmacy, call 888-289-1407 or review, can log in to see account and claim details. The Hartford (NYSE: HIG) today announced financial results for the quarter ended March 31, 2022. THE CRITICAL ILLNESS POLICY PROVIDES LIMITED BENEFITS FOR SPECIFIED DISEASES ONLY. The Hartford uses non-GAAP financial measures in this press release to assist investors in analyzing the company's operating performance for the periods presented herein. Didn't receive a code? exam, lab or test results/reports; physician notes; Explanation of Benefits (EOBs) from your health insurance provider; itemized medical or hospital bills; or medical records. e-mail addresses you have already provided to us. If neither of these situations applies to you, please move on to Step 4. Forward-looking statements are based on management's current expectations and assumptions regarding future economic, competitive, legislative and other developments and their potential effect upon The Hartford Financial Services Group, Inc. and its subsidiaries (collectively, the "Company" or "The Hartford"). Resend. Team members are eligible for up to 12 weeks of unpaid leave during a 12-month period. Restructuring and other costs - Costs incurred as part of a restructuring plan are not a recurring operating expense of the business. The $27 million before tax of catastrophe losses in first quarter 2022 related to the Ukraine conflict, largely recorded within Global Specialty, consisted of exposures under political violence and terrorism policies including aviation war, and under credit and political risk insurance policy exposures. Loss on extinguishment of debt - Largely consisting of make-whole payments or tender premiums upon paying debt off before maturity, these losses are not a recurring operating expense of the business.