ADVFN - Advanced Financial Network.
HOME» NYSE » H » HIG Stock Price » HIG Stock News

Hartford Share News

 Hartford Financial Services Grp. Inc. Stock Price
HIG Stock Price
 Hartford Financial Services Grp. Inc. Stock Chart
HIG Stock Chart
 Hartford Financial Services Grp. Inc. Stock News
HIG Stock News
 Hartford Financial Services Grp. Inc. Company Information
HIG Company Information
 Hartford Financial Services Grp. Inc. Stock Trades
HIG Stock Trades

Allianz, Hartford Complete Debt, Warrants Repurchase Deal

FRANKFURT -(Dow Jones)- Allianz SE (ALV.XE) and Hartford Financial Services Group Inc. (HIG) Tuesday said they completed the repurchase transaction involving Hartford buying back subordinated debt and warrants worth $2.425 billion, which was announced April 2. Allianz still holds a 5% equity stake in Hartford after the transaction. MAIN FACTS: --The junior subordinated debentures and warrants were first issued in 2008 by Hartford to Allianz. --Hartford has repurchased all outstanding 10-percent fixed-to-floating rate junior subordinated debentures due 2068 issued by The Hartford to Allianz in 2008 (which have an aggregate principal amount of $1.75 billion) as well as outstanding warrants entitling Allianz to purchase 69,351,806 shares of The Hartford's common stock. --Since the purchase of the warrants and debentures from the Hartford in October 2008, Allianz has seen a gain of roughly $1.4 billion equalling an internal rate of return on this investment of approximately 21% annually. Additionally, the repurchase has released around EUR1.5 billon of internal risk capital at Allianz. --The return including the shares has been approximately 15% annually. --Both performance figures are calculated before tax and policyholder participation. --"We have earned good returns on these investments in The Hartford, and we are pleased to close these transactions. As a continuing shareholder of The Hartford, we are very supportive of the actions the management team is taking to position the company for long-term success and deliver greater value to shareholders," said Michael Diekmann, CEO of Allianz SE. --"While Allianz remains a valued shareholder, the transactions closing today to repurchase the debentures and warrants represent another important step forward for The Hartford," said The Hartford's Chairman, president and CEO Liam McGee. "We continue to take decisive strategic and financial actions to position the company for profitable growth and to improve financial flexibility. These actions, along with our sharper strategic focus, demonstrate important steps in our plan to deliver superior, long-term returns for shareholders." -Frankfurt Bureau, Dow Jones Newswires; 49-69-29725-500

Stock News for Hartford (HIG)
DateTimeHeadline
05/21/201516:10:00The Hartford Declares Quarterly Dividend Of $0.18 Per Share Of...
05/20/201516:25:00The Hartford CEO Discusses Company Strategy At Shareholdersâ M...
05/20/201516:23:16Current Report Filing (8-k)
05/20/201512:15:10What Is the S&P 500 Index?
05/13/201510:00:00The Hartford To Host Annual Meeting Of Shareholders On May 20
05/05/201516:05:38Statement of Changes in Beneficial Ownership (4)
05/04/201508:12:35Hartford Financial Services Group's "Outperform" Rating Reiterated...
05/01/201516:26:00A.M. Best Upgrades Ratings of The Hartford Financial Services...
05/01/201516:12:33Statement of Changes in Beneficial Ownership (4)
05/01/201516:12:33Statement of Changes in Beneficial Ownership (4)
05/01/201516:12:33Statement of Changes in Beneficial Ownership (4)
05/01/201516:12:33Statement of Changes in Beneficial Ownership (4)
04/30/201515:32:07Additional Proxy Soliciting Materials (definitive) (defa14a)
04/27/201516:33:11Quarterly Report (10-q)
04/27/201516:20:51Current Report Filing (8-k)
04/27/201516:15:00The Hartford Reports First Quarter 2015 Core Earnings* Of $452...
04/27/201508:31:00Current Report Filing (8-k)
04/20/201516:00:00The Hartford Names David Robinson General Counsel And Kathy Bromage...
04/14/201511:09:03JPMorgan's Beef with the U.S. Government
04/08/201515:10:52Additional Proxy Soliciting Materials (definitive) (defa14a)

Hartford Financial and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad