The Hartford said its first-quarter profits rose 58 percent due in large part to a hike in property and casualty insurance earnings and consolidated net investments.
For the quarter ended March 31, the company said it netted $597 million, or $1.18 per diluted share, up from $378 million, or 80 cents, in the same quarter last year.
“Solid underwriting and investment performance drove higher pre-tax income in each of our major business segments, while lower corporate income tax rates also contributed,” said Christopher Swift, The Hartford’s chairman and CEO. “We continue to invest across the company to build market-differentiating capabilities, broaden product offerings and become more efficient.”
Swift said his company’s $1.45 billion acquisition of Group Benefits is expected to close by June 30. Meanwhile, he said The Hartford expects to complete its $2 billion sale of Talcott Resolution at the same time.
http://www.hartfordbusiness.com/article/20171204/NEWS01/171209971
Roughly 400 Hartford employees will become employees of the new company and will be located at offices currently owned or leased by The Hartford in Windsor and Woodbury, Minn.
