The Hartford Financial Services Group in Connecticut announced that expected losses from last Tuesday's terrorist attack could approach $450 million after taxes and net of reinsurance.
Hartford said the $450 million figure is "the company's best estimate today" of its total expected exposure for the events, noting that roughly $30 million (after tax and net of reinsurance) of the expected exposure arises from the operations of Hartford Life.
Ramani Ayer, The Hartford's chairman and chief executive said that the company will comfortably meet its obligations to its customers and noted that the ``act of war' exclusion would not apply in these circumstances.
