Hartford and AIG get billions!!! And in the market they price accounts at less than losses, and continue to do stupid things to get $$$$$. This is smart and will help us in the long run? Barack – how about you give them billions and DEMAND an underwriting profit so that they can pay back the loans?
As a carrier that competes against both HIG and AIG, I would like to point out that both of their P&C Operations have made money over the last 5 years and they have been pricing accounts like this.
HIG is in trouble because of the annuities and AIG is in trouble because of CDS. Neither are in trouble for their P&C business.
Agree with comments on P/C operation – I compete against them and always respected P/C segment. As has been stated, Life and P/C are both parts of a whole – one coulkd bring down the other. The Harford played in area’s that they should not have been in. $3.4 billion is a disgrace anyway you look at it. Another government controlled giant company…very sad…
The Hartford posted a 87.9 P&C combined ratio for 2008 & 90.0 the 1st quarter 2009. The industry at-large is running a fever with a combined ratio over 100.0. The Hartford is a well managed, historically profitable, growing and disciplined insurer. The financial challenges rest with the life product portfolio and the supporting capital investments in a challenging economy.
Agree Hartford’s issues are with the Life/annuity division, but the P&C and life are both part of the same company. That units woes could eventually bring down the company. Hartford is seeing a mass exodus of employees and management (beyond Ayers). Had a whole unit leave to go to Arch. The bailout money is a bandaid for now – future still in question.
WI agent: as noted by someone else it’s not the Hartfords underwriting of P&C that is hurting them. It would be great if Hartford could get back to what it was for the first 125 years of it’s existence – a trusted P&C only company.
Life and investments have hosed them, very unfortunate. Pretty awesome combined, more than 10% under the industry.
to the CEO’s pension — Ayer should get $1/year in pension until TARP funds are repaid. He should not be able to cut and run.
Hartford and AIG get billions!!! And in the market they price accounts at less than losses, and continue to do stupid things to get $$$$$. This is smart and will help us in the long run? Barack – how about you give them billions and DEMAND an underwriting profit so that they can pay back the loans?
As a carrier that competes against both HIG and AIG, I would like to point out that both of their P&C Operations have made money over the last 5 years and they have been pricing accounts like this.
HIG is in trouble because of the annuities and AIG is in trouble because of CDS. Neither are in trouble for their P&C business.
WI Agent Too – good post!
Agree with comments on P/C operation – I compete against them and always respected P/C segment. As has been stated, Life and P/C are both parts of a whole – one coulkd bring down the other. The Harford played in area’s that they should not have been in. $3.4 billion is a disgrace anyway you look at it. Another government controlled giant company…very sad…
The Hartford posted a 87.9 P&C combined ratio for 2008 & 90.0 the 1st quarter 2009. The industry at-large is running a fever with a combined ratio over 100.0. The Hartford is a well managed, historically profitable, growing and disciplined insurer. The financial challenges rest with the life product portfolio and the supporting capital investments in a challenging economy.
Agree Hartford’s issues are with the Life/annuity division, but the P&C and life are both part of the same company. That units woes could eventually bring down the company. Hartford is seeing a mass exodus of employees and management (beyond Ayers). Had a whole unit leave to go to Arch. The bailout money is a bandaid for now – future still in question.
WI agent: as noted by someone else it’s not the Hartfords underwriting of P&C that is hurting them. It would be great if Hartford could get back to what it was for the first 125 years of it’s existence – a trusted P&C only company.
Life and investments have hosed them, very unfortunate. Pretty awesome combined, more than 10% under the industry.