Hartford Fourth-Quarter Profit Up 76 %

NU Online News Service, Jan. 29, 1:54 p.m. EST?Hartford Financial Services Group Inc. said its 2003 fourth-quarter net profit rose 76 percent on a year-over-year basis, to $454 million from $258 million reported one year ago, helped by record property-casualty operating income and improved investment returns.[@@]

Hartford still posted a net loss for 2003 overall. The company was hurt by the $1.7 billion after-tax asbestos reserve charge it took in the first quarter. The Hartford, Conn.-based insurer said it had a net loss of $91 million for the year, compared to net income of $1.0 billion for the full-year 2002.

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