Analysts Say The Hartford is Performing Well
By Michelle Logsdon - April 25, 2002After releasing its first quarter results April 22, executives from The Hartford said the company is performing right in line with their financial predictions. Operating income for the North American property/casualty section increased 14 percent to $122 million in the first quarter of 2002.
Written premiums for the North American property/casualty operations increased 4 percent to $2.1 billion. Combined premiums for personal lines and commercial businesses were up 14 percent. Middle market commercial businesses saw a 19 percent increase, while small commercial businesses reported a 16 percent increase.
“Our property/casualty operations results were led by exceptional results in business insurance,” said Ramani Ayer, The Hartford’s chairman and CEO.
The specialty commercial sector benefited from solid premium pricing beginning before Sept. 11 according to Ayer. Premiums increased 17 percent and the combined ratio was 100.7.
The company did experience one area of negative activity. In risk management, volume decreased 24 percent due to a market environment that was “less firm and disciplined.” Ayer said he expects lower premium growth until the necessary pricing is achieved.
Overall, The Hartford is performing well according to Chief Financial Officer David M. Johnson. The outlook for 2002 includes fully diluted operating EPS between $4.65 and $4.95.
“Looking at all of our property/casualty operations, I’m excited at how well we are positioned at this moment,” said Ayer. | 
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