The Hartford Financial Services Group, Inc. (NYSE:HIG) Q3 2023 Earnings Call Transcript

Beth Costello: Yeah. I mean, as it relates to the quarter, as I said, with a very small amount of relative increases. I think if you go back and look at over the last several quarters, you’ve seen us take some increases in GL lines. And I’d say a lot of that has been in those years that you are indicating. And we take that experience into consideration as we think about our loss picks and pricing for those lines going forward. So I don’t really have much more color to add to that, Yaron, unless there’s something else specific you were looking at.

Yaron Kinar : I guess, and maybe this is becoming a little too granular for a call, and I apologize if so. I’m just trying to hone in on specifically those years and understand maybe the net numbers that you’re talking about are actually a larger gross loss from those years, offset by maybe some favorability from other years.

Beth Costello: Yeah. I mean, there can be some back and forth. I wouldn’t call out anything significant on that. I mean, on our more current years, especially on lines like GL, we do tend to hold our loss picks longer. We definitely through several quarters had seen some improvement that we recognized on the 2020 year. But again, nothing that significant that I would call out.

Yaron Kinar : Okay. And then the other question I had was on the Navigators book. So I think at the time of the acquisition, the U.S. casualty book was about 40% of the business. What does that come to as of today, either premium-wise or as a percentage of the overall specialty book?

Chris Swift: I’m going to disappoint you. I don’t have those numbers in front of me and I’m not going to try to guess. So we’ll just work through Susan to get you that number if that’s important to you.

Yaron Kinar : Great. Appreciate it. Thank you.

Operator: And ladies and gentlemen, that is all the time we have for questions. I will now turn the call back to Ms. Susan Spivak for closing remarks.

Susan Spivak : Thank you, Abby. I just want to thank everyone for joining us today. And as always, please reach out with additional questions, if we didn’t get to your question. I am available this afternoon and look forward to speaking with you then. Have a great day.

Operator: Ladies and gentlemen, this concludes today’s call. And we thank you for your participation. You may now disconnect.