The Hartford results hit by debt pay-off
The Hartford incurred a $587mn loss in the second quarter from paying off debt, with the firm's net result pulled down to a $101mn loss.
This compared to a $33mn profit in the second quarter of last year.
The debt payoff related to the insurer repurchasing $1.75bn in par value of junior subordinated securities from Allianz.
However, on an operating basis results were significantly ahead of 2011 at $119mn compared to $14mn, driven by a lower catastrophe loss burden.
Group-wide,...
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