NU Online News Service, Aug. 4, 11:28 a.m. EDT
The Hartford says the highest second-quarter catastrophe losses in its history and asbestos-reserve strengthening led the insurer to a 68 percent drop in net income for the quarter.
Second-quarter net income was $24 million compared to $76 million a year ago during the same period. Core earnings, a measure of operating performance, fell 94 percent compared to last year, to $12 million.
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