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Hartford posts higher earnings, beats view

NEW YORK
Thu Oct 25, 2007 4:59pm EDT

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NEW YORK (Reuters) - Hartford Financial Services Group Inc (HIG.N), the fourth-largest U.S. insurer by assets, said on Thursday that third-quarter net income rose 12 percent, helped by growth in its life insurance operations.

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Hartford said net earnings were $851 million, or $2.68 a share, up from $758 million, or $2.39 a share, in the year-earlier quarter.

Hartford said "core" or operating earnings, which analysts use to measure performance, were up 46 percent to $1.06 billion or $3.33 a share.

That beat analysts' average forecast of $2.46 a share, according to Reuters Estimates.

In the year-ago quarter, Hartford earned $727 million, or $2.30 a share, in core earnings.

Hartford Chief Executive Ramani Ayer raised his outlook for 2007 operating earnings to a range of $10.60 to $10.75 per share, up from $9.60 to $9.90 a share.

(Reporting by Ed Leefeldt)
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