Hartford Expects To Qualify For $1.1 Billion To $3.4 Billion Under Treasury Department Guidelines.
(Excerpted From "U.S. Stocks Drop as Retail Sales Slump Spurs Consumer Concern")
By Elizabeth Stanton
November 14, 2008
Nov. 14 (Bloomberg) --Hartford Financial Services Group Inc. jumped 21 percent to $12.65. The insurer that lost 79 percent of its market value in the past two months said it's buying a Florida bank for $10 million to become eligible for federal rescue funds. Hartford expects to qualify for $1.1 billion to $3.4 billion under Treasury Department guidelines.
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