This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

A.M. Best Affirms Ratings Of Hartford Financial Services Group And Its P/C Subsidiaries And Downgrades Ratings Of Hartford Life

Stocks in this article: HIG

A.M. Best Co. has removed from under review with negative implications and downgraded the financial strength ratings (FSR) to A- (Excellent) from A (Excellent) and the issuer credit ratings (ICR) to “a-“ from “a+” of Hartford Life and Accident Insurance Company (HLA), Hartford Life Insurance Company (HLIC), Hartford Life and Annuity Insurance Company (ILA) and Hartford International Life Reassurance Corporation (HILRE) (collectively referred to as Hartford Life). In addition, A.M. Best has removed from under review with developing implications and downgraded the ICR to “bbb-” from “bbb+” and the debt ratings of Hartford Life, Inc. At the same time, A.M. Best has removed from under review with negative implications and downgraded all debt ratings of Hartford Life Global Funding Trusts, Hartford Life Institutional Funding and HLIC.

Concurrently, A.M. Best has removed from under review with developing implications and affirmed the FSR of A (Excellent) and ICRs of “a+” of Hartford Fire Insurance Company and its pooling subsidiaries and affiliates, collectively referred to as the Hartford Insurance Pool. At the same time, A.M. Best has removed from under review with developing implications and affirmed the ICR of “bbb+” and all debt ratings of The Hartford Financial Services Group, Inc. (The Hartford) [NYSE: HIG], which is the ultimate parent of the aforementioned operating insurance companies. The outlook assigned to all ratings is stable. All companies are headquartered in Hartford, CT. (Please see link below for a detailed listing of the companies and ratings.)

The ratings of the Hartford Insurance Pool reflect its solid risk-adjusted capitalization, strong underwriting fundamentals and operating profitability and excellent market position within the property/casualty industry.

These strengths are somewhat offset by the Hartford Insurance Pool’s recent underwriting losses and decline in operating results relative to its historical levels, above-average exposure to affiliated investments and commercial real estate assets compared to the overall property/casualty peer group and by variability of earnings and return measures, which were driven by realized and unrealized investment losses during the most recent five years.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs