The Hartford Financial Services Group Chairman, President and CEO Liam E. McGee says fourth quarter results signal a "return to profitability."
The Hartford Financial Services Group, Inc. reported fourth quarter 2009 net income of $557 million, compared with a net loss of $806 million a year earlier. Core earnings for the fourth quarter of 2009 were $689 million, or $1.51 per diluted share, compared with a core loss of $208 million, or $0.72 per diluted share, in the prior year period.
"Both life and property and casualty businesses reported net income, and this is the third sequential quarter of improving core earnings. Additionally, we ended the year in a strong capital position," McGee said.
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