NU Online News Service, April 23, 10:11 a.m. – The Hartford Financial Services Inc., Hartford, is reporting $292 million in net income for the first quarter on $3.9 billion in revenue, up from $240 million in net income on $3.7 billion in revenue for the first quarter of 2001.
The company's Hartford Life unit is reporting $170 million in net income for the latest quarter on $1.7 billion in revenue, up from $138 million in net income on $1.6 billion in revenue.
The life unit benefited from the recent acquisition of Fortis Financial Group from Fortis, Brussels; a 22% increase in group benefits earnings; a 35% increase in earnings on mutual funds and other investment products; and growth in fixed annuity sales.
