(Bloomberg) – Hartford Financial Services Group Inc., which is among insurers pressured by low bond yields and volatile markets, is benefiting from a rebound beyond its fixed-income portfolio.
|Strong returns
The annualized yield from so-called limited partnership holdings this quarter will probably exceed the company's target of 6 percent, Chief Financial Officer Beth Bombara said Wednesday at a conference held by Keefe, Bruyette & Woods. The LP portfolio includes private-equity, hedge fund and real estate investments.
"We're anticipating that we will have very strong results there," she said. "We've benefited from some very strong returns in the private-equity portion of our portfolio, as some of those funds have sold some underlying investments. That has realized some gains."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.