Hartford Financial sees lower Q3 credit loss

Hartford Financial sees lower Q3 credit loss

Stock Market Predictions

Hartford Financial Services Group Inc (HIG.N) sees lower credit losses in the third quarter and said it has no direct exposure to sovereign European debt.

The Hartford, which is one of the oldest companies in America, said it expects a third-quarter credit loss of about $61 million, primarily on structured securities, and a net unrealized gain of $2.6 billion as of Sept 30.

Shares of the Hartford, Connecticut-based insurer were trading nearly flat at $17.76 in the morning session Friday on the New York Stock Exchange.

(Reporting by Aditi Sharma in Bangalore; Editing by Anil D'Silva)