The Hartford's first quarter net income was down 81 percent to $96 million compared, with $501 million in the first quarter of 2011.

The company finds itself trying to please investors, namely hedge fund titan and major shareholder John Paulson, who first advocated for a more focused entity and proposed the sale of under-performing operations.

The Hartford decided in March to exit its life business and focus on its more profitable property and casualty operations largely in a capitulation to Paulson.

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