Hartford Financial Services Group says it made an accounting error when reporting its third-quarter earnings — a mistake that now puts the insurer in the red for 2012.
Hartford says it made an amended filing with the U.S. Securities Exchange Commission on Friday to correct a miscalculation related to the sale of its life-insurance operations.
The Hartford is now reporting a net loss of $38 million for 2012. The company previously saidnet income for the year was $350 million, down 51 percent from 2011.
At the start of the year, Hartford said it completed the sale its individual life insurance to the Prudential Insurance Co., its retirement plans to Massachusetts Mutual Life Insurance Co., and its individual annuity business to Forethought Financial Group, Inc.
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