Hartford Financial 3Q Earnings Rise

Net income rose to $851 million, or $2.68 per share, from $758 million, or $2.39 per share, during the same period a year ago.

Analysts polled by Thomson Financial, on average, forecast earnings of $2.47 per share for the quarter.

Hartford Financial's retail products group posted earnings of $382 million in the third quarter, more than double the $184 million earned during the same quarter a year ago. Retail products growth was boosted by strong sales in mutual funds and variable annuities. Total retail assets under management increased 19 percent to $183.8 billion as of Sept. 30, compared with the same day last year.

Overall, in its life segment, operating income increased 68 percent from the year-ago quarter to $682 million. Aside from retail products growth, international sales provided strong earnings growth. International sales increased 68 percent to $79 million.

Property and casualty insurance operating income declined 9 percent to $341 million in the third quarter, from $375 million during the same quarter a year ago. Nearly all the loss came from declining personal lines and specialty commercial insurance income.

Total premiums written for the third quarter fell 3 percent to $2.6 billion compared with the year-ago period.

Shares of Hartford Financial fell 25 cents to $91.29 in after hours trading.