The Hartford
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The estimate follows modellers’ projections that market-wide losses will fall between $1.5bn and $7bn. -
The current litigation environment is worse than Travelers expected, the executive said at a conference.
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Earlier this year executives said they expected the deal to add to The Hartford’s earnings by about $110mn-$145mn.
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The carrier's core earnings rose by 17.7 percent year over year to $1.33 per share in Q2 2019.
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The insurance company is opposing the Scouts’ bid to move the case to a local county court.
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The insurance group has also struck a retrospective reinsurance deal with Berkshire Hathaway.
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The companies expect to close the merger “as soon as reasonably practicable”.
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Pricing in property and casualty (P&C) lines is generally on the upswing, the president of The Hartford said.
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The Hartford has paid some $91mn before tax for the $300mn aggregate treaty.
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The result was driven in part by higher group benefits and lower corporate losses.
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The new per occurrence treaty provides protection for catastrophes other than named storms and earthquakes.
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The companies continue to pursue a change of control to complete the merger as promptly as possible.
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