With the fresh spring breeze may come a breath of fresh air for The Hartford Financial Services Group Inc., which this week reported a first-quarter profit and improved investment results. This is particularly good news for the insurer, which earlier this month repaid $3.4 billion in Troubled Asset Relief Funds.

Due to the repurchase of the government's CPP preferred shares, The Hartford also says it recorded a $440 million charge to retained earnings that impacts the calculation of net income per diluted share, contributing to a reported net loss per diluted share of $0.42. Last year, that net loss resulted in a drop of $3.77 per diluted share.

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