The Hartford Financial Services Group has reported a much narrower loss for the third quarter, as the Hartford insurer’s investment losses shrank by more than half.
The Hartford lost $220 million, or 79 cents per share, in the latest period. Core earnings, which exclude certain investment gains and losses, totaled $660 million, or $1.56 per share.
Last year, the company lost $2.63 billion, or $8.74 per share, battered by the market plunge and claims from Hurricane Ike. The adjusted loss last year was $1.40 per share.
Analysts polled by Thomson Reuters, on average, expected The Hartford to post core profit of $1.11 per share.
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Its stock closed today up $1.01, or 4.1 percent, at $25.82. (AP)
