The Hartford Financial Services Group, an insurance and financial services company, has reported third quarter 2011 net income of $0m, or $(0.02) per diluted share, compared to net income was $666m, or $1.34 per diluted share for the same quarter of 2010.

Core earnings for the third quarter of 2011 were $33m, compared to $705m for the same corresponding quarter of 2009.

The company posted total revenues for the third quarter of 2011 were $2.87bn, compared to $1.01bn in the prior year quarter.

The Hartford chairman, president and CEO Liam McGee said in the third quarter, the industry faced a combination of capital markets volatility and significant catastrophe claims.

"Despite the challenges, the underlying performance of the businesses was good, the investment portfolio held up well, and our capital position remained strong," McGee said.