Bank Of America Reports Adequate Reserves For Hartford Financial Services

According to Bank of America, Hartford Financial Services HIG reserves appear adequate. Bank of America said that squaring the reported loss and paid loss triangle suggests that HIG's year-end 2010 loss reserves were at least adequate and that there likely is still a cushion in this important liability. “Our analysis does not take into account loss reserves prior to 2001 and thus, does not capture HIG's asbestos and environmental reserves.” Hartford Financial Services closed yesterday at $24.75.