Hartford Financial Services has reported a first-quarter profit, reversing a steep loss from a year ago, The Associated Press reports.
Its core earnings also topped analysts’ expectations and the insurer raised its full-year guidance.
Hartford posted on Thursday core earnings of $545 million, or 14 cents a share. That compares with a core loss of $1.2 billion, or $3.66 a share, a year ago.
It said written premiums were unchanged from a year ago at $2.5 billion.
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Analysts surveyed by Thomson Reuters expected a profit of 11 cents a share on $2.42 billion in written premiums.
Insurers like Hartford emphasize operating income because it excludes investment gains and losses and is considered more reflective of the company’s performance.
