June 26 Insurer Hartford Financial Services
Group increased its share buyback by $750 million to
$1.25 billion and raised its quarterly dividend by 50 percent to
15 cents per share.
The company has repurchased $166 million of common shares
and warrants under the existing buyback program.
"The financial position, capital flexibility and risk
profile of the company have continued to improve," Chief
Executive Liam McGee said in a statement.
Hartford is the 11th-largest property and casualty insurer
in the country with a market share of 2.05 percent, according to
the National Association of Insurance Commissioners (NAIC), a
multi-state insurance regulatory body.
The company's first-quarter operating profit beat analysts'
expectations, helped by higher underwriting margins, but premium
income fell slightly in its core property and casualty business.
Hartford's shares, which have risen 7 percent since it
reported first-quarter results at the end of April, closed at
$29.18 on Tuesday on the New York Stock Exchange.