The Harford Reports Big Net on Price Firming

The Hartford Financial Services Group Inc. (NYSE: HIG) today reported net income of $265 million for the quarter ended Sept. 30, 2002, versus a net loss of $103 million in the year-ago quarter. On a per diluted share basis, net income increased to $1.06, compared with a loss of $0.43 per diluted share in the same period last year. Included in net income for the third quarter of 2002 were after-tax net realized capital losses of $100 million, compared to after-tax net realized capital losses of $51 million in 2001. This was due largely to impairments on securities of $111 million (a...