Hartford lifts dividend, sets 2017 buyback

|About: Hartford Financial Servi... (HIG)|By:, SA News Editor

Q3 core earnings of $413M or $1.06 per share vs. $364M and $0.86 one year ago.

Net investment income of $772M up 6% Y/Y. Annualized investment yield of 4.1% down 10 basis points.

P&C combined ratio of 96.5 improves from 97.3 a year ago. Underlying combined ratio of 92.5% improves from 93.0. Looking just at personal lines, the combined ratio remained above 100 at 100.2 vs. 101.1 a year ago. CEL Chris Swift: "Personal automobile results remain challenged."

Book value per share (excl. AOCI) of $45.74 up 6% Y/Y.

Core earnings ROE (excl. Talcott Resolution) of 9.1% vs. 10.5% a year ago.

The quarterly dividend is boosted 10% to $0.23 per share. A new $1.3B buyback plan expiring at the end of next year is approved. $350M spent on buybacks in Q3 under the $4.375B plan ending on Dec. 31 of this year.

Conference call tomorrow at 9 ET

Previously: Hartford Financial beats by $0.11 (Oct. 27)

HIG +0.4% after hours

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