HARTFORD, Conn. (AP) — The Hartford Financial Services Group Inc. reported a $101 million second-quarter net loss Wednesday, a consequence of paying off a huge debt to Allianz SE.

Retiring the debt is part of the insurer's continuing effort to refocus its priorities on insurance underwriting. As part of that plan, it said Tuesday that it is selling its securities brokerage Woodbury Financial Services to American International Group Inc.

The insurer said its loss for the April-through-June period amounted to 26 cents per share and compared with net income of $33 million, or 5 cents per share, a year earlier.

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.