Hartford’s P&C segment profits up by 16%
US-based composite insurer Hartford Financial Services Group saw the return from its property and casualty segment grow by 16 percent to $300mn.
The underwriting profit from this unit strengthened to $218mn in Q3, as the combined ratio narrowed from 87.3 percent to 84.9 percent.
In part this reflects lower catastrophe activity, which halved from $25mn to $13mn. Non-catastrophe loss activity was $888mn in both years.
The Hartford released $118mn from prior-year reserves - 9 percent more than in Q3 2009...
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