INSURANCE

Aetna Profit Plummets: Aetna Life & Casualty said its third-quarter earnings declined 43% as the company added to its reserves for pollution claims and raised its estimates of catastrophe costs. Aetna earned $129 million, or $1.15 a share, in the three months ended Sept. 30, compared with $226 million, or $2.03 a share, last year. Revenue was $4.39 billion, up from $4.33 billion a year ago. The insurance company, based in Hartford, Conn., said it had to add $23 million in the quarter to its reserves for environmental claims and moderately raise its estimate of costs from the Los Angeles earthquake and severe winter weather earlier this year. Catastrophe costs were $28 million in the quarter, compared to $18 million a year ago. Capital losses also took a toll on overall earnings and resulted in a $2.2-million loss in the commercial property-casualty business for the quarter.