Financial Services Industry
Industry: Email Alert RSS FeedHartford Earnings Up; Acquiring Fortis Financial Group.(Hartford Financial Services Group Inc. acquiring Fortis Financial Group Inc.)(Brief Article)(Statistical Data Included)
National Underwriter Property & Casualty-Risk & Benefits Management, February, 2001
The Hartford Financial Services Group in Connecticut reported core earnings for the fourth quarter of 2000 of $252 million, or $1.09 per share, up 14 percent from $221 million, or 99 cents per share, for the fourth quarter of 1999. Fourth-quarter core earnings for Hartford's property-casualty operations declined, however, falling to $115 million, compared with $116 million for fourth-quarter 1999.
The company said that improving operating trends, including price increases in commercial and personal lines along with lower catastrophe losses, were offset by a decline in the company's reinsurance results. The Hartford's life operations reported core earnings of $156 million for fourth-quarter 2000, a 22 percent increase from $128 million for the same period...
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