Hartford Financial profit rises on higher margins

Mon Oct 28, 2013 4:59pm EDT

Oct 28 (Reuters) - Insurer Hartford Financial Services Group's third-quarter profit rose as margins improved in its core property and casualty commercial business.

Hartford's shares were up 2.5 percent in extended trading.

Net income rose to $293 million, or 60 cents per share, from $13 million, or 1 cent per share, a year earlier.

Third quarter 2012 net income was impacted by a net loss of $388 million, after-tax, related to the company's sale of its Individual Life business, the company said.

Earned premium from its property and casualty business fell less than 1 percent to $2.49 billion.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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