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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 9, 2025
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
(Exact name of registrant as specified in its charter)
| | | | | | | | | | | |
Delaware | 001-13958 | 13-3317783 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
The Hartford Financial Services Group, Inc.
One Hartford Plaza, Hartford, Connecticut 06155
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number, including area code: (860) 547-5000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| | | | | | | | |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common Stock, par value $0.01 per share | HIG | The New York Stock Exchange |
6.10% Notes due October 1, 2041 | HIG 41 | The New York Stock Exchange |
Depositary Shares, Each Representing a 1/1,000th Interest in a Share of 6.000% Non-Cumulative Preferred Stock, Series G, par value $0.01 per share | HIG PR G | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
☐ Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On January 9, 2025, The Hartford Financial Services Group, Inc. (the "Company") announced that A. Morris Tooker has been appointed President of the Company, effective February 1, 2025.
Mr. Tooker, 55, has served as head of the Company’s Commercial Lines, which includes Small Commercial, Middle & Large Commercial and Global Specialty business units, since March 1, 2024. He also oversees the Company’s sales & distribution organization, as well as its innovation and risk services team. Previously, Mr. Tooker served as the Company’s Executive Vice President responsible for Middle & Large Commercial, Global Specialty and sales and distribution from November 2022 to March 1, 2024; Head of Middle & Large Commercial from March 2019 to October 2022; and Head of Middle Market from March 2017 to February 2019. He joined the Company in 2015 as chief underwriting officer. Prior to joining the Company, Mr. Tooker served as president of General Reinsurance Corporation and was responsible for the company’s global property and casualty reinsurance business.
There are no arrangements or understandings between Mr. Tooker and any other person pursuant to which he was selected as an officer. Mr. Tooker has no direct or indirect interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
The Compensation and Management Development Committee (the "Compensation Committee") approved a target total annual compensation opportunity for Mr. Tooker at $6 million, based on market data for executives in similar roles at peer companies. This includes a base salary of $850,000, an annual incentive award target of $1.65 million and a long-term incentive award target of $3.5 million.
Item 7.01 Regulation FD Disclosure.
On January 9, 2025, the Company issued a press release regarding the events described in Item 5.02 above.
The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information furnished in Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
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Exhibit No. | |
| |
99.1 | |
| |
101 | | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. |
| |
104 | | The cover page from this Current Report on Form 8-K, formatted as Inline XBRL. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| | | | | | | | | | | | | | |
| | | | |
| | The Hartford Financial Services Group, Inc. |
| | | | |
January 9, 2025 | | By: | | /s/ Terence Shields |
| | | | Name: Terence Shields |
| | | | Title: Senior Vice President & Corporate Secretary |
| | | | |
NEWS RELEASE
The Hartford Announces Appointment Of A. Morris ‘Mo’ Tooker As Company President
Tooker to oversee all property-and-casualty businesses
HARTFORD, Conn., Jan. 9, 2025 – The Hartford appointed Tooker as the company’s president. In this new role, he will add Personal Lines to his current position overseeing Small Commercial, Middle & Large Commercial and Global Specialty, as well as Enterprise Sales & Distribution and Risk Services. This will align all of the company’s property-and-casualty businesses under his leadership. In addition, Tooker will also be responsible for stewarding a number of enterprise-wide initiatives. The change is effective Feb. 1, 2025, and Tooker will continue to report to The Hartford’s Chairman and CEO Christopher Swift.
“Mo is an exceptional leader, highly regarded in the insurance industry, with a strong reputation for strategic growth, customer-focused solutions, underwriting discipline, and building a cohesive team culture,” Swift said. “He is ideally suited to step into the crucial role of president as we advance our ambitious growth-and-innovation strategy aimed at addressing our customers’ changing needs.”
Tooker joined The Hartford in 2015 as chief underwriting officer and has served in a number of critical leadership roles during the last nine years, most recently as head of Commercial Lines. He has significantly advanced the company’s underwriting capabilities while creating meaningful growth and fostering a culture of innovation and collaborative solutions. Prior to joining The Hartford, Tooker served as president of General Reinsurance Corporation and was responsible for the company’s global property and casualty reinsurance business.
“I am honored and excited to become president of The Hartford at such a significant time in our company’s history,” Tooker said. “With significant investments in technology to streamline processes and mitigate risk, we are deepening connections with our customers, brokers and agents. Our competitive advantages are clear, and we start 2025 from a position of strength. I am energized by the tremendous opportunities ahead and confident in our sustained future success.”
About The Hartford
The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Connecticut. For additional details, please read The Hartford’s legal notice.
HIG-C
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2023 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
From time to time, The Hartford may use its website and/or social media channels to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at https://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at https://ir.thehartford.com.
| | | | | | | | |
Media Contact: | | Investor Contact: |
Matthew Sturdevant | | Susan Spivak Bernstein |
860-547-8664 | | 860-547-6233 |
matthew.sturdevant@thehartford.com | | susan.spivak@thehartford.com |
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