Insight and Intelligence on the London & International Insurance Markets 24 Jan 2018

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The Hartford pegs tax reform DTA write-down at $850mn

  • Ted Bunker and Iulia Ciutina 8 January 2018
  • The Hartford estimates the US corporate tax cut will force it to reduce the value of its net deferred tax assets by $850mn.

    At the same time, the company said it expects to record $180mn in pre-tax catastrophe losses, mostly from the California wildfires, meaning the total will likely exceed $1bn in the fourth quarter.

    The $850mn charge is based on a preliminary assessment of its deferred tax assets (DTAs) and the final figure will depend on fourth quarter financial...

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