Liam McGee News

Hartford CEO McGee’s Pay Up 58% to $17.7 Million As Stock Surges

Liam McGee, the chief executive officer of Hartford Financial Services Group Inc., had his compensation increase 58 percent last year as he presided over a stock surge and sold assets to narrow the company’s focus. His package climbed to $17.7 …

The Hartford Cut Workforce by 3,700 in 2013

Hartford Financial Services Group Inc. cut its staff by 16 percent last year as Chief Executive Officer Liam McGee narrowed the insurer’s focus. The insurer had about 18,800 employees as of Dec. 31, a decline of 3,700 from a year …

Hartford May Sell Rest of Corporate-Owned Life Business: Report

Hartford Financial Services Group Inc., the insurer which rebuffed an activist’s calls to split into two companies last year, is considering a sale of a business that offered companies life insurance policies on their employees, people with knowledge of the …

Hartford’s McGee: Lessons from Clash with Activist Investor Paulson

Liam McGee, who led a rebound at Hartford Financial Services Group Inc. after shunning John Paulson’s call to split the insurer, said executives shouldn’t be defensive when handling activist investors. “You can’t circle the wagons,” McGee, Hartford’s chief executive officer, …

Hartford Profit Up As Focus Shifts to P/C Insurance

Hartford Financial Services Group Inc.’s profit surged as the insurer focused on property/casualty coverage after divesting life and annuity units. The company gained in extended trading. Third-quarter net income advanced to $293 million, or 60 cents a share, from $13 …

Hartford to Sell U.K. Variable Annuity Business to Berkshire

Hartford Financial Services Group Inc. agreed to sell its U.K. variable-annuity business to Berkshire Hathaway Inc. for about $285 million in cash. Hartford Life International Ltd., which was sold to Berkshire’s Columbia Insurance Co. unit, had $1.75 billion in assets …

The Hartford CEO McGee Returns After Surgery

The president and chief executive officer of The Hartford Financial Services Group Inc. says he underwent surgery over the holidays to remove a brain tumor. Liam E. McGee sent a letter to employees last Friday saying the procedure went well …

Hartford CEO McGee Says ‘Undoubtedly Weather Has Changed’

The Hartford Financial Services Group CEO Liam McGee said his company’s gross losses from Superstorm Sandy may hit the reinsurance deductible of $350 million. Speaking at the Goldman Sachs Financial Services Conference in New York on Wednesday, McGee also remarked …

The Hartford’s Biggest Stakeholder Wants to Split Up the Firm

The Hartford Financial Services Group’s biggest stakeholder is not happy with its stock price and wants The Hartford CEO Liam McGee to do “something drastic,” including splitting up the company’s life insurance and P/C businesses. Speaking at the company’s earnings …