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Hartford Reports $241M Net Loss in Q1; P&C Net Income Up 8%

The Hartford reports a first-quarter net loss of $241 million as its life business run-off and one-time charges dragged down earnings.

By Mark E. Ruquet | Updated on April 30, 2013

The Hartford reports a first-quarter net loss of $241 million as its life business run-off and one-time charges dragged down earnings. However, its P&C business net income was up of 8 percent. 

The combination of Hartford’s Talcott Resolution—annuity and life insurance business it placed into run-off more than a year ago to concentrate on P&C—and charges for early extinguishment of debt and good-will write off produced a net loss of $652 million. The company’s three core businesses—P&C, Group Benefits and Mutual Funds—produced net income of $411 million, offsetting the net loss.

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