HARTFORD - The Hartford Financial Services Group, Inc. (NYSE: NYSE:HIG) has announced a significant organizational change, consolidating its Operations and Technology, Data, Analytics & Cyber functions under the leadership of Deepa Soni, the company's chief information officer. This move is designed to enhance customer value and support The Hartford's growth strategy.
Deepa Soni, who has been serving as the chief information officer since 2021, will now also head the Operations division, effectively immediately. Soni's expanded role aims to leverage the company's technological advancements to improve products, services, and customer experiences. The Hartford's Chairman and CEO, Christopher Swift, expressed confidence that this consolidation will accelerate the benefits of the company's aggressive investments in technology.
In a related shift, John Kinney, who has been with The Hartford since 2003 and led Claims and Operations since 2021, will be leaving the company effective April 5. Steve Deane, the company's chief claims officer, will now report directly to Swift.
Soni's tenure at The Hartford has been marked by a focus on technology transformation, including the migration to cloud-based digital platforms and the increased use of automation, artificial intelligence, and advanced data analytics. Her prior experience in the banking sector has been instrumental in her role at The Hartford.
The company, with over 200 years of expertise, is headquartered in Hartford, Connecticut.
The information about this leadership change is based on a press release statement from The Hartford.
InvestingPro Insights
As The Hartford Financial Services Group, Inc. (NYSE: HIG) embarks on a significant organizational change with an emphasis on technology and operations, the company's financial and market performance continues to be of interest to investors. According to recent data from InvestingPro, The Hartford boasts a strong market capitalization of $28.08 billion and an attractive P/E ratio of 11.34 based on the last twelve months as of Q4 2023. This valuation metric suggests that the company is trading at a low price relative to near-term earnings growth, an InvestingPro Tip that may indicate a potentially undervalued stock.
Another InvestingPro Tip highlights The Hartford's consistent dividend growth, with the company having raised its dividend for 11 consecutive years and maintained dividend payments for 29 consecutive years. The dividend yield currently stands at 1.99%, with a dividend growth rate of 10.59% over the last twelve months as of Q4 2023, underlining the company's commitment to returning value to shareholders.
The Hartford's stock has also experienced a strong return over the last three months, with a total price return of 20.71%, and is trading near its 52-week high at 97.73% of the peak price. This performance is indicative of the company's market resilience and the positive reception of its growth strategy by investors. For those interested in further insights, there are an additional 12 InvestingPro Tips available at Investing.com/pro/HIG, which can be accessed with a yearly or biyearly Pro and Pro+ subscription. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off.
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