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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.