The Hartford (HIG) - Get Hartford Financial Services Group, Inc. (HIG) Report beat third-quarter targets and guided in line for the year.
The insurer made $758 million, or $2.39 a share, up from $539 million, or $1.76 a share, a year ago. Core earnings, excluding realized gains, were $2.30 a share, a nickel ahead of the Thomson Financial analyst consensus estimate.
"The Hartford's third quarter was very strong," said Ramani Ayer, chairman and chief executive. "Good underwriting results before catastrophes, the light storm season and favorable development from prior year storms produced an excellent quarter for property and casualty. Significant increases in mutual fund, 401(k) plan and Japan annuity assets under management contributed to life operations profitability."
The company raised its full-year earnings guidance to a range of $8.75 to $8.95 a share from the previous $8.50 to $8.80. Analysts were looking for $8.94.
Shares fell 3 cents to $91.18.