(Reuters) - Insurer The Hartford Financial Services Group (HIG.N) 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.
Reporting by Aman Shah in Bangalore; Editing by Sreejiraj Eluvangal