The Hartford Financial Services Group reported a loss of $467 million for the second quarter, which it said was due to the sale of its Japanese annuity segment.
The insurer’s profit decline, which equated to a loss of $1 per diluted share, was up from a loss of $190 million, or 39 cents, in the second quarter last year.
The company took a $617 million loss, after tax, on discontinued operations related to the July 1 sale of its annuity business.
Catastrophe losses increased from $120 million to $127 million over the year.
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