Aetna Life & Casualty said first-quarter net...

Aetna Life & Casualty said first-quarter net income fell to $132 million from $221 million a year ago. The latest quarter includes $4 million in capital gains, compared to $16 million in capital gains and $23 million from tax-loss carryforwards. The Hartford, Conn., firm said the latest quarter included the net tax benefit from the Tax Reform Act of 1986, principally the “fresh start” provisions, of $19 million, compared to $15 million a year ago.