Hartford Financial Services Group Inc. has reported a 39% increase in second-quarter net income from a year earlier.
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Net income in the quarter was $602 million, or $1.98 per diluted share, the company said on Thursday, compared with $433 million, or $1.46, the year earlier.
Assets under management in retail products grew 9% in the 12 months through June 30, to about $145 billion. The growing asset base helped drive operating income in the quarter.
Retail variable annuity sales in the quarter were $2.9 billion, and net outflows were $59 million. Fixed annuities also had net outflows in the low-rate environment.
