Summary
The Hartford Financial Services Group, Inc. (HIG) filed an 8-K on June 25, 2019, to disclose revisions to its Investor Financial Supplement (IFS) for periods spanning from Q1 2017 through Q1 2019, and full years 2016-2018. These revisions are primarily to reflect a realignment of business lines within the Commercial Lines segment, aligning with the company's management reporting structure and the recent acquisition of The Navigators Group, Inc. (Navigators Group).
Key Highlights
- 1The Hartford is updating its historical financial data for the Commercial Lines segment to reflect a new management reporting structure.
- 2This realignment of business lines was announced on February 4, 2019, and became effective upon the closing of the Navigators Group acquisition on May 23, 2019.
- 3Key changes include reclassifications such as moving a portion of excess and surplus lines from small commercial to global specialty, and livestock business from middle market to global specialty.
- 4Financial products and bonds, previously in specialty commercial, are now categorized under global specialty.
- 5The company emphasizes that the total financial information for the Commercial Lines segment remains unchanged; only the internal allocation of business lines within the segment has been adjusted.
- 6The recast financial information does not incorporate the results of Navigators Group for the periods presented.
- 7This disclosure is intended to provide investors with clarity on the impact of these structural changes before the Q2 2019 earnings release.