HIG Terminates Reinsurance Agreement with NICO, Receives $1.12B Cash Payment, Expects $497M Gain
· The NYC Memo
Hartford Fire Insurance Company, an affiliate of HIG, terminated its Aggregate Excess of Loss Reinsurance Agreement with National Indemnity Company (NICO) on September 23, 2026. The company received a $1.12 billion cash payment on September 25, 2026, and expects to recognize a before-tax net gain of $497 million for the third quarter ended September 30, 2026.