Who Owns The Hartford Insurance? (2024)

FAQs

Who Owns The Hartford Insurance? ›

The Hartford is owned by its shareholders, as it is a publicly traded company.

The Hartford has completed the sale of Talcott Resolution, its run-off life and annuity businesses, to a group of investors led by Cornell Capital LLC, Atlas Merchant Capital LLC, TRB Advisors LP, Global Atlantic Financial Group, Pine Brook and J. Safra Group as of May 31, 2018.

The Hartford is a publicly-traded insurance company owned by its shareholders, whereas AARP is a non-profit, membership-based organization for seniors. The two companies are partners, though.

AARP membership is required for Program eligibility in most states. The AARP Automobile Insurance Program from The Hartford is underwritten by Hartford Fire Insurance Company and its affiliates, One Hartford Plaza, Hartford, CT 06155.

Going forward, Hartford's primary business will be in property/casualty insurance, mutual funds and group benefits. The Prudential transaction was the fourth major sale for The Hartford this year.

A consumer class action against The Hartford alleges the insurer undervalued totaled or fully destroyed cars, leading to the insured getting paid less than deserved.

The Hartford Financial Services Group announced Thursday it is selling its life insurance business to Prudential Financial Inc., in a deal valued at $1.5 billion. About 1,000 employees — including nearly 200 in Connecticut — work for The Hartford's Individual Life business.

No, The Hartford is not cheaper than Geico for car insurance. A minimum-coverage car insurance policy with The Hartford costs $1,290 per year, on average, while a minimum-coverage policy with Geico costs an average of $796 per year. Full coverage from Geico costs less than The Hartford's coverage, too.

Below you can compare ratings for The Hartford insurance from reputable rating agencies: J.D. Power: The Hartford ranked in first place overall for midsize insurers in the J.D. Power 2023 U.S. Insurance Shopping Study, with a total score of 887 out of 1,000 points. In the J.D. Power 2023 U.S.

Why does Hartford have so many insurance companies? ›

River captains, who met frequently on the wharves and in coffee houses, often arranged to share voyage risks and profits. From these informal arrangements, the Hartford insurance industry sprang, eventually offering much more than marine coverage.

AARP® Auto Insurance Program from The Hartford

Added benefits include Accident Forgiveness and Disappearing Deductible†, as well as highly-rated claims services. No-cost, no-obligation quotes are available.

In late 2017, The Hartford bought Aetna's group disability insurance business for $1.45 billion. This means The Hartford is now the second largest group disability insurer in the nation.

The Hartford received high marks for customer satisfaction and property claims satisfaction, according to J.D. Power. As with its auto policies, you must be an AARP member to qualify for a homeowners insurance policy with The Hartford. However, The Hartford homeowners insurance is not available in all states.

The Hartford has consistently been one of the highest rated insurance companies in the industry, offering customers a wide range of coverage options.

Warren Buffett has owned shares of Geico stock since 1951, and Geico became a wholly-owned subsidiary of Berkshire Hathaway in 1996. Geico is the second largest auto insurer in the U.S. providing coverage for more than 28 million vehicles and over 17 million auto policy holders.

The Hartford announces it won't issue new home insurance policies to California homeowners. Another insurance company announced its scaling back business in the Golden State. The Hartford recently announced it won't offer new home insurance policies beginning on Feb. 1, 2024.

"We are pleased to complete this transaction and welcome the employees, clients and other business partners of The Hartford's Retirement Plans business to MassMutual," said Roger Crandall, Chairman, President and CEO, MassMutual.

(The sale of Talcott) is the final step in our journey begun in March 2012, to exit the life insurance and annuity market," Chief Executive Christopher Swift said. The sale is expected to improve future return on capital, the company said.