Discontinued — last reported Q4 '23
Business Segments · Amortization of Deferred Policy Acquisition Costs
Group Benefits — Amortization of Deferred Policy Acquisition Costs
The Hartford Financial Services Group Group Benefits — Amortization of Deferred Policy Acquisition Costs remained flat by 0.0% to $8.5M in Q4 2023 compared to the prior quarter. Year-over-year, this metric grew by 3.0%, from $8.25M to $8.5M. Over 2 years (FY 2021 to FY 2023), Group Benefits — Amortization of Deferred Policy Acquisition Costs shows a downward trend with a -7.8% CAGR.
Analysis
StatementSegment
CategoryProfitability
SignalContext dependent
VolatilityStable
First reportedQ1 2013
Last reportedQ4 2023Feb 23, 2024
How to read this metric
Changes reflect the timing of new business acquisition and the expected duration of the underlying insurance contracts.
Detailed definition
The periodic expense recognized as the company amortizes the costs incurred to acquire new insurance business, such as c...
Peer comparison
Standard accounting practice for insurance acquisition costs (DAC).
Metric ID:
hig_segment_group_benefits_amortization_of_deferred_policy_acquisition_costsHistorical Data
3 years
| FY'21 | FY'22 | FY'23 | |
|---|---|---|---|
| Value | $40M | $33M | $34M |
| YoY Change | — | -17.5% | +3.0% |
Range$33M – $40M
CAGR-7.8%
Avg YoY Growth-7.2%
Median YoY Growth-7.2%
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Frequently Asked Questions
- What is The Hartford Financial Services Group's group benefits — amortization of deferred policy acquisition costs?
- The Hartford Financial Services Group (HIG) reported group benefits — amortization of deferred policy acquisition costs of $8.5M in Q4 2023.
- How has The Hartford Financial Services Group's group benefits — amortization of deferred policy acquisition costs changed year-over-year?
- The Hartford Financial Services Group's group benefits — amortization of deferred policy acquisition costs increased by 3.0% year-over-year, from $8.25M to $8.5M.
- What is the long-term trend for The Hartford Financial Services Group's group benefits — amortization of deferred policy acquisition costs?
- Over 2 years (2021 to 2023), The Hartford Financial Services Group's group benefits — amortization of deferred policy acquisition costs has grown at a -7.8% compound annual growth rate (CAGR), from $40M to $34M.
- What does group benefits — amortization of deferred policy acquisition costs mean?
- The gradual expensing of costs incurred to sign up new insurance customers.