Hartford Posts Huge Turnaround for Profitable Quarter

The Hartford Financial Services Group, Inc. Tuesday reported first quarter of 2004 net income per diluted share of $1.93, up from the loss of $5.46 per diluted share in the first quarter of 2003. Net income increased to $568 million in the current period from a loss in the first quarter of 2003 of $1.4 billion. Net realized capital gains, which are included in net income, totaled $95 million (after-tax) in the current quarter versus net realized capital losses of $29 million (after-tax) in the same period last year. "I am very pleased by the results we are posting today. Net income is a...