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Hartford Financial Sees $450 Million In WTC Claims

By Staff Writer

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NU Online News Service, Sept. 18, 10:15 a.m. – Hartford Financial Services Group Inc., Hartford, Conn., says it expect up to $450 million in insurance claims, after taxes and net of reinsurance, from the destruction of the World Trade Center.

The company says $30 million of those claims will be made on its life insurance unit, Hartford Life, with the remainder on its core property-casualty operations.

Lower equity markets, which is likely to hurt Hartford’s life operations, will cut its fourth-quarter profits by 5 to 10 cents per share, the company notes.