Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

Hartford Q3 net income jumps to $401m

The Hartford has reported net income of $401m, or $0.83 per diluted share, for the third quarter of 2012, against $60m, or $0.11 per diluted share, during the same period earlier year.

Its core earnings grew to $378m, or $0.78 per diluted share, an increase from $50m, or $0.08 per diluted share, year-over-year.

The Hartford president and CEO Liam McGee said that the company financial performance during the current quarter period, reflecting continued P&C pricing momentum and low catastrophes.

"Renewal pricing increased 8% in Standard Commercial, 4% in personal auto and 6% in homeowners, with higher retention in all three lines," McGee added.

Continued pricing and underwriting initiatives and notably lower catastrophe losses generated P&C Commercial core earnings of $160m, against $87m during the same period a year ago.

Commercial Markets net income grew by 149% to $194m, compared to $78m during the year ago quarter, while core earnings increased 71% to $183m from $107m, during the same period of 2011.

The Hartford Financial Services offers insurance and wealth management services for millions of consumers and businesses globally.