Hartford Financial Servcies News

Hartford Catastrophe Costs Fall, 4Q Profit Rises to $314M

Hartford Financial Services Group Inc., now focusing on property/casualty coverage, posted a profit in the fourth quarter as catastrophe costs fell. Net income was $314 million, or 65 cents a share, compared with a loss of $46 million, or 13 …

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, …

JC Flowers, Apollo to Bid on Hartford’s Japan Unit: Reuters

Private equity firms J.C. Flowers & Co and Apollo Global Management are among a handful of companies expected to bid for Hartford Financial Services Group Inc. ‘s Japanese annuity business, three people familiar with the situation told Reuters this week. …

Prudential Close to Deal to Buy Hartford Life Insurance Unit: WSJ

Prudential Financial Inc. is close to a deal to acquire the individual life insurance business of Hartford Financial Services Group Inc, and a deal could be struck as soon as Thursday, the Wall Street Journal reported. The paper, citing a …

Small Business Owners Dismiss Risk of Data Breach: Survey

As the number of data breaches involving smaller businesses continues to grow, a new survey by The Hartford finds 85 percent of small business owners believe a data breach is unlikely, and many are not implementing simple security measures to …

Hartford to Repay Allianz’s $2.4 Billion of Crisis Aid

The Hartford Financial Services Group plans to repay most of a rescue it received during the financial crisis, buying back debentures and warrants from Germany’s Allianz SE for $2.43 billion. The Hartford’s shares rose 3.7 percent in afternoon trading, far …

Hartford Moving Closer to Its P/C Roots But Not Severing All Life Ties

The Hartford Financial Services Group Inc., under pressure to boost its stock price from hedge fund manager John Paulson, said it would get rid of most of its life insurance-related operations and focus on being a property insurance and group …

Hartford Hit with Q2 Catastrophe, Asbestos Losses

Hartford Financial Services Group Wednesday warned it will badly miss second-quarter expectations after severe losses on natural disasters and a charge to increase its asbestos reserves. Hartford, one of three insurers to receive a government bailout during the financial crisis, …