Aetna Life & Casualty: The Hartford, Conn.-based...

Aetna Life & Casualty: The Hartford, Conn.-based insurance firm reported first-quarter earnings of $137 million, down from $180 million in the year-ago quarter. Aetna showed net realized capital losses of $16 million for 1991, contrasted with net gains of $20 million last year. The 1991 results included $52 million in additional reserves for mortgage loans and real estate writedowns, which were offset by capital gains of $36 million. The firm cited higher capital losses and lower investment income in its large-case guaranteed pension business as a result of continued deterioration in commercial real estate markets.