Claims And Issues: Debt Securities Albatross Causes Drowning Insurance Results.

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April 30, 2008

Hartford Financial Services Group Inc. reportedly lost 83% in 1Q 2008 profit due to its investment losses.

Hartford has also already reportedly lost 18% of its share value in 2008.

These plunging financial results are blamed on the universal writedown of Bonds "linked to mortgages and other debt securities." Andrew Frye, "Hartford's Profit Plunges 83% on Investment Losses (Update 1)" (Bloomberg.com, Monday, April 28, 2008).

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Posted by Dennis J. Wall on April 30, 2008 at 05:26 AM in Market Performance | Permalink

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Claims And Issues