The Hartford Posts 31% Drop in First Quarter Net Income

The Hartford Financial Services Group, Inc. on Thursday reported a 31% first quarter drop in net income despite improved underwriting in its commercial lines book, including workers’ compensation. The Hartford, Conn.-based insurer said that reduced investment income and lower underwriting results in its personal lines book of business drove its net income down to $323 million in the quarter ending March 31, compared to $451 million in the same period of 2015. The company’s commercial lines revenue increased 6% to $249 million in the quarter from $234 million i...