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Hartford Financial posts 4th-quarter loss
February 4, 2013 / 9:30 PM / 5 years ago

Hartford Financial posts 4th-quarter loss

Feb 4 (Reuters) - Insurer Hartford Financial Services Group reported a fourth-quarter loss on higher catastrophe losses from superstorm Sandy, which ravaged New York and New Jersey in October.

The company posted a net loss of $46 million, or 13 cents per share, compared with a net income of $118 million, or 23 cents per share, a year earlier.

On an operating basis, earnings fell 12 percent to 54 cents per share.

The company said in December it expected pretax losses of $370 million in the fourth quarter from the storm.

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