The Hartford Financial Services Group reported third quarter net income rose 41 percent to $758 million.

The multi-line carrier's written premiums for its property-casualty operations rose 3 percent to $2.7 billion.

"Strong written premium growth in personal lines and small commercial were partially offset by declines in the company's specialty commercial business," the company said in a statement.

In a conference call with analysts this morning, Hartford chief executive officer Ramani Ayer said that property-casualty profits have likely peaked in 2006 and will face strong headwinds next year as competition intensifies.

Softening prices with higher reinsurance and loss costs will create a challenging environment next year, he added.

Net income for the p-c line rose 64 percent to $381 million in the quarter as the prior year period was significantly affected by Hurricanes Katrina and Rita.

The combined ratio for p-c ongoing operations improved more than seven points to 90.4.

Business insurance written premiums rose 6 percent to $1.3 billion.

Mr. Ayer said new agency appointments and marketing efforts by the American Association of Retired Persons boosted p-c results in the quarter.

Personal lines written premium increased 11 percent over the prior year period, and specialty commercial figures declined 16 percent.

Special Reports /

Hartford Quarterly Net Rises 41%

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