The Hartford books greater Q2 loss from life runoff operations
August 7, 2013 by Chad Hemenway and Michael K. Stanley
The Hartford says it recorded a second-quarter net loss of $190 million due to steps the insurer has taken in non-P&C operations.
Hartford booked more than $540 million in losses related to the sell-off of its life operations, as well as capital losses from variable annuity (VA) hedging programs.
The so-called Talcott resolution, which constitutes the company’s run-off of U.S., international and institutional annuity books was in full swing in the second quarter.
Originally Posted at LifeHealthPro on August 1, 2013 by Chad Hemenway and Michael K. Stanley.
Categories: Industry Articles