Aetna Life & Casualty reported a $160-million...

Aetna Life & Casualty reported a $160-million profit in the fourth quarter, contrasted with a loss of $1.1 billion in 1993 that resulted when the company dumped some unprofitable investments.

The quarterly profit amounts to $1.42 per share, contrasted with a loss of $10.10 per share in the fourth quarter of 1993.

That year, the company took $1.3 billion in special charges that included $825 million for the discontinued pension investments, which were made for large institutions.

Quarterly revenue rose slightly to $4.4 billion in the fourth quarter, from $4.2 billion in 1993.

For the year, the Hartford, Conn.-based insurer earned $468 million, or $4.14 per share, for 1994, contrasted with a loss of $366 million, or $3.29 per share, the previous year.

The 1993 figure was reduced by the $259-million pension investment charge to increase reserves for workers’ compensation claims, and $200 million in other charges.

All the company’s core businesses performed well, except its property casualty operations, which showed a decrease in earnings before special charges were taken in 1993.