HARTFORD, Conn. (AP) — The Hartford Financial Services Group Inc. reported a $101 million second-quarter net loss Wednesday, a consequence of paying off a huge debt to Allianz SE.
Retiring the debt is part of the insurer's continuing effort to refocus its priorities on insurance underwriting. As part of that plan, it said Tuesday that it is selling its securities brokerage Woodbury Financial Services to American International Group Inc.
The insurer said its loss for the April-through-June period amounted to 26 cents per share and compared with net income of $33 million, or 5 cents per share, a year earlier.
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