MarketWatch - Feb 09, 2010Hartford Financial Services Group (HIG)
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John Nadel
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Sterne AgeeHartford pumped $18 billion into its life insurance operations during the fourth quarter to meet capital requirements of its global variable annuity business and to cover investment related capital hits
That left Hartford's holding company with $19 billion in cash at the end of 2009, down from $43 billion on Sept 30, according to John Nadel, an insurance analyst at Sterne Agee "The most telling part of the fourth quarter results was the capital injection to the Life Co by the Hold Co, which we believe leaves significant doubts as to how easily Hartford will be able to get out from under TARP without a sizeable common equity raise," Nadel wrote in a note to investors on Tuesday
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Hartford pumped $18 billion into its life insurance operations during the fourth quarter to meet capital requirements of its global variable annuity business and to cover investment related capital hits <span class="sent">That left Hartford's holding company with $19 billion in cash at the end of 2009, down from $43 billion on Sept 30, according to <span class="analyst">John Nadel</span>, an insurance analyst at Sterne Agee </span>"The most telling part of the fourth quarter results was the capital injection to the Life Co by the Hold Co, which we believe leaves significant doubts as to how easily Hartford will be able to get out from under TARP without a sizeable common equity raise," Nadel wrote in a note to investors on Tuesday
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