Hartford Financial reports loss on Japan annuities charge
April 29 (Reuters) - Insurer Hartford Financial Services Group reported a first-quarter loss as the company took an after-tax charge of $541 million related to an expansion of its annuities hedging program in Japan.
The company's net loss was $241 million, or 58 cents per share, compared with net income of $96 million, or 18 cents per share, a year earlier.
On an operating basis, earnings were 92 cents per share.
Analysts on average expected earnings of 82 cents per share, according to Thomson Reuters I/B/E/S.
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