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ANALYSIS
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
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March 4, 2009 11:55 AM ET
(Business Insurance)—Hartford Financial Services Group is in talks to sell most of its life insurance unit to Canada’s Sun Life Financial, Bloomberg News reported Wednesday, citing three people familiar with the situation. Bloomberg also reported that Hartford had been in separate talks with MetLife, which ended last month. A spokeswoman from the Hartford said the company would not comment on market speculation. The report that the Hartford, Conn.-based company is considering splitting its life insurance operations from its property/casualty business came one day after Standard & Poor’s Corp. cut Hartford’s credit rating to BBB from BBB+, which was the second time S&P had downgraded the company in a week. Hartford, which has been hit hard by investment losses at the life insurance operations, posted a $2.75 billion net loss in 2008. In a statement Tuesday, S&P analyst Shellie Stoddard said that Hartford’s “earnings, capitalization, and financial flexibility have been weakened” by the equity market’s decline. She added that the “uncertainty of this financial stress could erode Hartford’s brand and diverse competitive advantages.”
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