I do not follow HIG, but according to your info

above, there is a easy explanation, HIG got new capital, so it does not have need to sell its investment in financial anymore, thus there is no realized loss anymore, because of change of mark to market accounting rule, you do not need to mark to market your asset in distressed market, thus there is no paper loss too in accounting.

On the other hand, even if they have $8 per share loss, it does not mean they will BK. it is an insurance, not banking, no bank run.