The Hartford Financial Services Group, Inc. saw black for the first time in five quarters, earning $557 million in the fourth quarter of 2009.
The Hartford-based property-casualty and life insurer and financial products provider announced after the closing of Monday’s trading that it earned $1.19 a share in the three months ended Dec. 31.
The company said this was its first profitable quarter since the second quarter of 2008, when the insurer earned $543 million.
The insurer lost $806 million, or $2.71 a share, in the fourth quarter of 2008. It was during that period The Hartford received a $2.5 billion capital infusion from German insurer Allianz SE in exchange for an equity stake.
Liam E. McGee, chairman, president and CEO, said both life and property-casualty divisions made money. But he cautioned The Hartford is not yet out of the financial woods.
“Although the company posted strong earnings in the fourth quarter, the economy and market conditions remain uncertain,” McGee said.
The company also announced McGee will host an April 1 investor presentation in New York to discuss its business, capital and financial outlook.
In after hours trading, The Hartford was down 66 cents, or 2.8 percent, to $22.80.
