Hartford Financial (HIG) Announces $1.5 Billion Buyback Authorization

The Hartford’s (NYSE: HIG) Board of Directors authorized a $1.5 billion share repurchase program, effective from Jan. 1, 2021, through Dec. 31, 2022. The company expects to commence this program after it reports fourth quarter earnings.

The authorization permits purchases of common stock as well as any other securities convertible into or exchangeable for the company’s common stock. Repurchases may be made in the open market through derivative, accelerated repurchase and other privately negotiated transactions, and through plans designed to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. The timing of any future repurchases will be dependent upon several factors, including the market price of the company's securities, the company's capital position, consideration of the effect of any repurchases on the company's financial strength or credit ratings, and other considerations. The repurchase program may be modified, extended or terminated by the Board of Directors at any time.

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