Connecticut based insurance and financial services firm, Hartford Financial Group Inc reported a loss of $15 million for the quarter ended June 30, a loss of 6 cents per share.

However, Hartford's second quarter operating profits appeased worried investors. A rebound in the stock markets helped Hartford with a gain worth $360 million.

According to Bloomberg news, sourced from people familiar with the ongoing proceedings at Hartford Financial Services Group Inc, the company is seeking bids for its flagship property insurance business, from its closest competitors, including Travelers Cos and Ace Ltd.