Hartford Financial Services Group Inc. (HIG) reported a third quarter net loss of $220 million or $0.79 per share, compared to a net loss of $2.6 billion or $8.74 per share in third quarter 2008. Core earnings for the third quarter were $660 million, or $1.56 per diluted share, compared to a core loss of $422 million or $1.40 per share, in the prior period. Analysts polled by Thomson Reuters expected the company to report earnings of $1.11 per share for the quarter. Analysts' estimates typically exclude special items.
Written premiums for The Hartford's property and casualty operations in the third quarter were $2.4 billion, down 6% from the third quarter of 2008 largely as a result of weaker economic conditions which particularly affected commercial lines.
Personal lines written premiums for the third quarter of 2009 grew 2% over the prior-year period to $1.0 billion. Written premiums in the company's agency business rose 4% in the third quarter, with AARP written premiums up 2% over the prior period.
Written premiums for small commercial were $626 million for the third quarter of 2009, compared with $652 million in the prior year period.
The Hartford currently expects 2009 core earnings per share to be between $0.85 and $1.05. The company's previous guidance for 2009 core earnings per share was between $0.00 and $0.20. Analysts expect the company to report earnings of $0.50 per share for fiscal 2009.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.