The Hartford (NYSE:HIG) reported core earnings of $456 million for the three months ended Dec. 31, 2013 (fourth quarter 2013), up 78% from $256 million in fourth quarter 2012 due to lower catastrophe losses and improved Property and Casualty (P&C) Commercial and Group Benefits margins, partially offset by a decline in core earnings from Talcott Resolution and Corporate. Core earnings per diluted share rose 81% to $0.94 from $0.52 in fourth quarter 2012. *Denotes financial measures not calculated based on generally accepted accounting principles (“non-GAAP"). Fourth quarter 2013 net income totaled $314 million, or $0.65 per diluted share, compared with a fourth quarter 2012 net loss of $46 million, or $0.13 per diluted share, reflecting both higher core earnings and lower net realized capital losses. Fourth quarter 2013 net realized capital losses not included in core earnings, which are principally on international VA hedging programs, totaled $177 million, after-tax and deferred acquisition costs (DAC), a 37% decrease from $282 million, after-tax and DAC, in fourth quarter 2012. “Fourth quarter was a strong finish to an outstanding year for The Hartford,” said The Hartford’s Chairman, President and CEO Liam E. McGee. “We executed our strategy and delivered 41% core earnings growth in P&C, Group Benefits and Mutual Funds, and reduced VA policy counts in Japan and the U.S. by 26% and 14%, respectively. Pricing increases in P&C Standard Commercial remained stable at 8% for the sixth consecutive quarter and profits rebounded in Group Benefits.” “The Hartford’s 2014 outlook demonstrates confidence in the company's continued ability to create shareholder value. We are focused on driving profitable growth, further reducing risk in Talcott Resolution, and making the company work more effectively and efficiently. With our strong financial position and capital generation, we were pleased to announce a new, two-year $2.656 billion capital management plan,” added McGee.