Reeling from what its chief executive called “the most challenging year” in the company’s nearly 200-year history, Hartford Financial Services Group Inc. recently announced its fourth-quarter net losses. The fourth-largest U.S. insurer reported losses totaling $806 million or $2.71 per share, compared with a profit of $595 million, or $1.88 per share just a year earlier.

“The capital markets proved to be especially challenging during the latter half of 2008, particularly affecting our equity-based businesses and investment performance,” said Ramani Ayer, chairman and chief executive, in a statement. “Even still, we took several actions to finish 2008 well capitalized and well prepared to deliver on our commitments to customers.”

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