Executives at Hartford Financial Services Group Inc. (NYSE:HIG) say the group disability insurance market is looking better.
The executives talked about group benefits markets trends today during a conference call they held to review first-quarter earnings.
The company is reporting $495 million in net income for the latest quarter on $4.5 billion in revenue, compared with a $241 million net loss on $9 billion in revenue for the first quarter of 2013.
The group benefits unit is reporting $51 million in net income on $903 million in revenue, compared with $42 million in net income on $941 million in revenue for the comparable quarter in 2013.
The group disability operation is reporting $88 million in fully insured ongoing sales on $346 million in premium revenue, up from $76 million in sales on $345 million in premiums.
At the group life unit, sales fell to $79 million, from $88 million, and premiums fell to $388 million, from $426 million.
But the group disability loss ratio fell to 82.4 percent, from 89.9 percent, and the group life loss ratio dropped to 67.9 percent, from 68.1 percent.
