The Hartford suffered a second-quarter net loss of $101 million to extinguish high-cost debt it took on during the 2008 financial crisis. Analysts said core results were better than expected and more importantly, statutory capital levels held up well.
Indeed, said analysts at Sterne Agee in an investor's note Thursday afternoon, its life company statutory capital increased three percent compared to the prior quarter despite market pressures, i.e., low interest rates and its resultant impact on profits.
Company officials also said they are "on track" to sell its individual life and retirement plan businesses, but Sterne Agee analysts said they do not expect further comments from the company about details until divestitures are made.
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