The Hartford Financial 3rd-quarter profit rises

Thu Nov 1, 2012 4:46pm EDT

Nov 1 (Reuters) - Insurer The Hartford Financial Services Group reported a surge in third-quarter profit on lower investment losses, but core earnings came in below Wall Street expectations.

Net income jumped to $401 million, or 83 cents per share, from $60 million, or 11 cents per share, a year earlier.

On an operating basis, it earned 78 cents per share.

Analysts on average were expecting Hartford to earn 83 cents per share, according to Thomson Reuters I/B/E/S.

The company's shares closed at $21.92 on Thursday on the New York Stock Exchange.

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