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.