Hartford launches $2B buyback


Core earnings of $456M or $0.94 per share compares to $314M or $0.65 a year ago.

Q4 catastrophe losses of $18M are way less than the guidance of $42M, adding $0.05 to earnings. Q4 2012 catastrophe losses were $174M. P&C combined ratio improves to 93.2 from 95.4.

FY2014 earnings guidance of $1.65B-$1.75B compares to $1.742B earned in 2013, but EPS should be boosted as the company announces a capital management plan of $2B in share repurchases and $656M in repayment of debt.

CC at 9 ET

HIG +2.6% AH

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Comments (2)
  • DeepValueLover
    , contributor
    Comments (11094) | Send Message
     
    Goodness...this is the Mona Lisa of reports. Smooth sailing ahead.
    3 Feb 2014, 09:26 PM Reply Like
  • TCW2100
    , contributor
    Comments (3) | Send Message
     
    Great report. Still would have liked a combined ratio closer to 90.

     

    Loaded up with HIG warrants. Continued inflation of asset values and inflation will help insurers.
    3 Feb 2014, 10:45 PM Reply Like
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