Hartford Financial Services (NYSE:HIG) reported a Q1 loss of $3.77 per share, ex-items, missing consensus estimates for a loss of $3.05. Written premiums declined by 5% year-over-year to $2.5 billion. The Hartford currently expects full-year 2009 core earnings per diluted share to be between 5 cents and 45 cents, including the impact of the $1.5 billion after-tax charge, or $4.60 per diluted share, related to the DAC unlock recorded in the first quarter of 2009. The company's previous guidance for 2009 core earnings per diluted share was between $5.80 and $6.20 and did not include a DAC unlock. Meanwhile analysts, on average, are expecting EPS of $5.77 for the full-year 2009. Ramani Ayer, Chairman and Chief Executive Officer of The Hartford made the following statement, "The financial markets remain difficult and the outlook for the economy is uncertain. In light of these conditions, even as a well capitalized company, we are taking additional measures. We are considering a range of potential options with the goals of preserving capital, stabilizing ratings and reducing risks. However, after evaluation of our opportunities, we may determine that the best course for The Hartford is to continue with a diversified business model."

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