The Hartford Financial Services Group said a fourth-quarter increase in its net income helped its full-year profits more than double.
The property-casualty insurer’s fourth-quarter 2015 net income totaled $421 million, a nearly 11 percent increase from fourth quarter 2014. Earnings totaled $1.01 per diluted share, up from 86 cents per share in the same quarter a year ago.
Full-year 2015 net income totaled $1.68 billion, or $3.96 per diluted share,compared with $798 million, or $1.73, in 2014. The company said the “significant increase” in earnings per share reflected the growth in net income and the impact of share repurchases.
In the earnings report, chairman and CEO Christopher Swift termed 2015 a successful year for the insurer. Among the accomplishments cited was returning $1.6 billion of capital to shareholders.
During the fourth quarter, the company repurchased 9.8 million common shares for a total of $450 million.
Correction: The original version of this story inaccurately described The Hartford’s fourth-quarter profits in relation to a year ago. Profits increased in the recent quarter.
