Discontinued — last reported Q4 '23
Group Benefits — Benefits, Losses and Loss Adjustment Expenses
The Hartford Financial Services Group Group Benefits — Benefits, Losses and Loss Adjustment Expenses remained flat by 0.0% to $1.17B in Q4 2023 compared to the prior quarter. Year-over-year, this metric grew by 3.6%, from $1.13B to $1.17B. Over 2 years (FY 2021 to FY 2023), Group Benefits — Benefits, Losses and Loss Adjustment Expenses shows relatively stable performance with a 0.8% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
Lower ratios relative to premiums indicate better underwriting performance and profitability, while higher costs may signal adverse claim trends.
Detailed definition
The total costs incurred by the group benefits segment related to policyholder claims, including the actual benefit paym...
Peer comparison
Standard loss ratio component across the insurance industry.
hig_segment_group_benefits_benefits_losses_and_loss_adjustment_expensesHistorical Data
| FY'21 | FY'22 | FY'23 | |
|---|---|---|---|
| Value | $4.61B | $4.52B | $4.68B |
| YoY Change | — | -2.0% | +3.6% |
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Frequently Asked Questions
- What is The Hartford Financial Services Group's group benefits — benefits, losses and loss adjustment expenses?
- The Hartford Financial Services Group (HIG) reported group benefits — benefits, losses and loss adjustment expenses of $1.17B in Q4 2023.
- How has The Hartford Financial Services Group's group benefits — benefits, losses and loss adjustment expenses changed year-over-year?
- The Hartford Financial Services Group's group benefits — benefits, losses and loss adjustment expenses increased by 3.6% year-over-year, from $1.13B to $1.17B.
- What is the long-term trend for The Hartford Financial Services Group's group benefits — benefits, losses and loss adjustment expenses?
- Over 2 years (2021 to 2023), The Hartford Financial Services Group's group benefits — benefits, losses and loss adjustment expenses has grown at a 0.8% compound annual growth rate (CAGR), from $4.61B to $4.68B.
- What does group benefits — benefits, losses and loss adjustment expenses mean?
- The total cost of paying out insurance claims and managing the claims process.