The Hartford Financial Services Group booked $314 million in fourth quarter profits, reversing a loss from a year earlier thanks to lower-than-expected catastrophe losses, the insurer reported.
The quarterly profits — equivalent to 65 cents per diluted share — stand in contrast to a loss of $46 million in the final quarter of 2012.
Catastrophic losses for the recent quarter were $28 million, down from $335 million a year ago.
For the year, The Hartford booked $176 million in profits, or 34 cents per diluted share, up from a loss of $38 million in 2012, or 18 cents per diluted share.
