I reported The Hartford’s earnings yesterday when they were released after the markets closed, and that story is here.
Sterne Agee analyst John Nadel says today in a note to investors:
Not only has HIG fully hedged its VA [variable annuity] equity and Fx exposure, declaring Talcott capital self-sufficient even under severe stress, but the timing helped drive a material increase in Life Co Stat capital that appears permanent. We believe this, coupled with the emergence of a true free cash flow story (in which run-off will no longer require but instead should release capital), will lead to an improving capital mgmt story. HIG remains our top pick as 1Q results affirm our positive view.
Aetna beat analysts’ expectations on Tuesday as it reported strong operating income for the first three months of the year compared with 2012, but net income was lower because of costs related to buying Coventry Health Care Inc.
Magellan Health Services Inc. reported better earnings and stronger revenue for the first three months of the year compared with the same period last year, but the company lowered its outlook because it lost a multi-billion-dollar Medicaid contract in Arizona.
Core earnings for The Hartford Financial Services Group improved 7 percent in the first quarter of 2013 compared with the same period last year, driven by tougher underwriting, price hikes in property-casualty, and stronger results in both group-benefits results and mutual funds.
A federal lawsuit against The Phoenix Cos. claims that people who bought Phoenix securities between mid-2009 and late 2012 suffered losses because the company’s financial reports were based on false or misleading information — financial reports the company still has not restated.
UnitedHealth Group CEO Stephen J. Hemsley had a 28 percent decline in compensation last year compared with 2011, according to documents filed Wednesday with the U.S. Securities and Exchange Commission.
Anthem Blue Cross and Blue Shield in Connecticut agreed to pay $400,000 to psychiatrists and behavioral-health providers for services dating back to Jan. 1 and to reprocess thousands of claims, the state Insurance Department said Wednesday.
The Hartford Financial Services Group recently expanded its online programs for employers to analyze and manage the time their employees aren’t at work because of disability leave or workers’ compensation.
A new report says actuaries have the best job in America. My colleague Mara Lee blogs about the report here.
An interesting aspect of this report: Sociologists have a better hiring outlook than human resource managers?
And newspaper reporter is considered the worst job, (perhaps to get newspaper reporters to notice the report).
The Travelers Cos. had its best operating income per share since the company’s initial public offering in 2002, driven by higher prices and lower expenses from tornadoes and other catastrophes.