<div id="subtitle">Hartford Financial posts 4th-quarter profit, beats estimates, provides 2010 outlook</div><div><p>Insurer Hartford Financial Services Group said Monday it was profitable in the fourth quarter as its life and property-casualty businesses both improved.</p><p>The Hartford, Conn.-based company earned $557 million, or $1.19 per share in the final three months of the year. That compared with a loss of $806 million, or $2.71 per share, a year earlier.</p><p>Excluding investment gains and losses, core earnings rose to $689 million, or $1.51 per share, versus a loss of $208 million or 72 cents per share a year ago.</p><p>Hartford said last month that fourth-quarter core earnings would likely be $1.45 per share to $1.60 per share.</p><p>Results exceeded Wall Street's expectations for earnings of $1.40 per share, according to a poll by Thomson Reuters.</p><p>Like most insurers, Hartford emphasizes operating income because it excludes investment gains and losses and is considered more reflective of the company's performance.</p><p>"Although the company posted strong earnings in the fourth quarter, the economy and market conditions remain uncertain," CEO Liam McGee said in a statement.</p><p>McGee joined Hartford Financial Services Group in October. He was the former head of consumer banking at Bank of America Corp.</p><p>Results in the most recent quarter got a boost from better results in Hartford Financial's life insurance and property and casualty insurance businesses.</p><p>The company's life unit posted net income of $118 million, compared with a net loss of $807 million in the prior year period. Its property and casualty insurance business had net income of $508 million, up 75 percent from the fourth quarter 2008.</p><p>Hartford Financial said its property and casualty ongoing operations also reported a combined ratio of 92.6 percent, excluding catastrophes. This compares with 85.3 percent in the year-ago quarter. The combined ratio measures the amount of money an insurer pays in claims and expenses compared with how much it receives from underwriting premiums. A ratio above 100 percent means the insurer is paying out more than it generates from premiums.</p><p>For the full year, Hartford reported a net loss of $887 million, or $2.93 per share, compared with a net loss of $2.75 billion, or $8.99 per share, in 2008.</p><p>Hartford said it sees 2010 core earnings coming in at $3.70 per share to $4 per share. Analysts expect earnings of $3.96 per share.</p><p>Shares lost 42 cents, or 1.8 percent, to $23.04 in after-hours trading. The stock lost 7 cents to $23.46 in the regular session.</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=68710766&bid=informcom" /></div><div id="copyright"><div>

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