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HIG Hertford

1.50
0.00 (0.00%)
29 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hertford LSE:HIG London Ordinary Share GB00B29KF658 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

CORRECT: Allianz: EUR112 Million Writedowns On Hartford Invest In 1Q

29/04/2009 2:56pm

Dow Jones News


Hertford (LSE:HIG)
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From Jul 2019 to Jul 2024

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Allianz SE (AZ) expects about EUR112 million in first-quarter write-downs on its investment in Hartford Financial Services Group Inc. (HIG) of the U.S., Chief Financial Officer Helmut Perlet said Wednesday.

In October, Hartford closed on a $2.5 billion investment by Allianz, which ultimately would give Allianz a stake of just below 24% in Hartford when it converts hybrid debt into shares.

Currently, Allianz holds a 7.4% stake in Hartford and has hybrid debt worth $1.75 billion that includes the option of a conversion into Hartford shares within the next seven years.

Hartford reported a $2.75 billion net loss for 2008 and is among a group of insurers seeking U.S. government aid.

CEO Diekmann said earlier Wednesday that the insurer's investment in Hartford is a "financial investment."

Company Web site: www.allianz.com

-By Ulrike Dauer, Dow Jones Newswires; +49 69 29725 500; ulrike.dauer@dowjones.com

 
 

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