HIG
The Hartford Financial Services Group, Inc.
Is HIG Halal?
Property-casualty and group-benefits insurer — conventional insurance and interest-based investing are an activity-level disqualifier.
What You Should Know
The Hartford Financial Services Group, Inc. is a conventional insurer offering property-casualty, group benefits, and related insurance products, and it invests its premium float largely in interest-bearing bonds and other fixed-income instruments. Conventional insurance involves gharar (excessive uncertainty) and riba (interest), both prohibited under Islamic law, and the investment income that drives a large share of profit is interest-based. Because the impermissible elements are the core of the business model rather than an incidental line, the stock fails the activity screen and the verdict is non-compliant regardless of the financial ratios. The Islamic alternative to conventional insurance is takaful.
⚠️ Concerns
- •Conventional insurance is built on gharar and riba, which are activity-level disqualifiers that cannot be cured by purification
- •A large share of profit comes from investing premium float in interest-bearing bonds and fixed income
- •This is a structural, business-model concern rather than an incidental content or financial-ratio issue
- •Muslim investors should avoid the stock and consider takaful for protection needs and permissible businesses for investment
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