Hartford Financial Services Group Inc. announced Monday it raised its earnings outlook for this year because of strong results in its life and property and casualty segments in the fourth quarter.
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The Hartford, Conn., insurer said it plans to buyback an additional $500 million shares. The company said it expects 2006 core earnings, which exclude some realized capital gains and losses, of $8.85 to $9.00 a share, up from its previous outlook of $8.75 to $8.95. According to Thomson First Call, the average estimate was $8.95 a share.
Ramani Ayer, the company’s chairman and chief executive officer, said during an investor conference call on Monday that it expects 2007 core earnings of $9.35 to $9.65 a share.
