You are here:HomeNews CenterInsurance News2005The Hartford Reports 39 Percent Increase in Q2 Profits

The Hartford Reports 39 Percent Increase in Q2 Profits

The Hartford Financial Services Group one of the nation's largest financial services and insurance companies, reported a 39-percent increase in net income from a year...
August 9, 2005

The Hartford Financial Services Group one of the nation's largest financial services and insurance companies, reported a 39-percent increase in net income from a year ago. Operating income for The Hartford's property-casualty operations in the second quarter of 2005 rose 96 percent to $369 million from the second quarter of 2004, led by another quarter of excellent underwriting results, lower catastrophe losses and higher investment income. Written premium increased 7 percent to $2.7 billion. The combined ratio for property-casualty ongoing operations was 87.0 percent. 

Ramani Ayer, chairman and chief executive officer of The Hartford, said that "pricing among lines is softening, however by and large, competitors are still behaving rationally." In response to continued growth in small markets along with increased competition, Ayer said that The Hartford "has added more than 200 new agencies selling small commercial [insurance]."

The Hartford Reports 39 Percent Jump in Q2 2005 Net (The Hartford 8/4/05)

The Hartford Quarterly Net Up 39 Percent (National Underwriter 8/8/05)

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