The hits just keep coming for The Hartford. The insurer announced today that it's ending sales of variable annuities in Japan and the U.K., and canceling plans to sell annuities in Germany to cut costs, after the company posted its third consecutive quarterly loss, A.M. Best reports.
The Hartford Financial Services Inc. reported a first-quarter net loss of $1.21 billion, compared with profit of $145 million in the same period a year ago, driven by continuing investment losses and costs associated with the variable annuities business.
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