Friday, May 01, 2009


The Hartford Financial posts 1Q loss

The Hartford Financial Services Group Inc. on Thursday posted a $1.2 billion first-quarter loss, and said it is suspending sales of annuities in Japan and the U.K. and halting plans to sell the products in Germany in a move to cut costs.

For the first three months of the year, the insurance and financial services company posted a loss of $3.77 per share, compared with net income of $145 million, or 46 cents per share, a year earlier. The latest quarter includes a charge of $1.5 billion, or $4.66 per share, as equity market declines forced The Hartford to lower estimates of future life insurance gross profits...

AP: The Hartford Financial posts 1Q loss

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