"George Plimpton" <geo...@si.not> wrote in message
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the only Bullshit is coming from you .
The Hartford Reports Higher Profits On Price Increases, Fewer Catastrophes
November 01, 2012|By MATTHEW STURDEVANT,
mstur...@courant.com, The
Hartford Courant
The Hartford Financial Services Group reported much higher earnings in the
third quarter compared with a year ago, driven by a very quiet summer in
terms of natural disasters and higher prices on home, auto and commercial
property insurance.
Net income was $401 million for the three-month period, or 83 cents per
diluted share, compared with $60 million, or 11 cents per diluted share,
during the same period a year before.
Catastrophe losses for the quarter totaled $7 million, after taxes, which
was $68 million below budget. Catastrophe losses were $60 million for the
third quarter in 2011, after taxes.
Quarterly revenue in the company's commercial lines was $2.89 billion, up
from $2.87 billion last year. Quarterly revenue in consumer markets, which
includes homeowner's insurance and auto coverage, was down to $989 million
from $1 billion last year. Quarterly revenue in wealth management, which
includes life insurance, is down to $666 million from $731 million last
year.
Quarterly net income for commercial lines was $194 million, up from $78
million last year. Consumer markets had a third-quarter net loss of $16
million last year and a third-quarter profit of $94 million this year.
Wealth management had a net loss of $8 million during the third-quarter last
year and a profit of $22 million this year.
The Hartford released earnings after the markets closed Thursday. The stock
was down 26 cents to $21.66 in after-hours trading.