Overview
The retail investment products group is a leading provider of investment vehicles designed to help individual investors achieve their long-term financial goals. We provide the investor access to superior asset management through such products as annuities, mutual funds, 529 college savings plans, and other specialty products. Mutual fund offerings include a range of risk and return profiles, from money market and bond funds to asset allocation and equity funds.
2007 highlights
- A leading provider of variable annuities in the United States, with assets exceeding $119 billion.
- Retail mutual fund sales hit an all-time high at $14.4 billion, a 29% increase over 2006.
- The Hartford Mutual Funds became the fastest-growing retail-oriented, broker-sold fund family in history to reach $50 billion in assets, according to Strategic Insight.
- DALBAR Award recipient for annuity service (12th consecutive win) and mutual fund service (5th consecutive win).
Overview
The retirement plans group provides recordkeeping, administration, and investment management for 401(k) plans for corporate customers, 457 plans for government entities, and 403(b) plans for education, health care, and non-profit organizations.
2007 highlights
- Assets under management exceeded $28 billion, a 16% increase over 2006.
- 401(k) deposits exceeded $4.6 billion, up 14% over 2006.
- Announced three retirement plan acquisitions. These acquisitions will increase scale in the retirement plans segment and grow its offering to serve additional markets, customers, and types of retirement plans across the defined contribution and defined benefit spectrum. (We expect these transactions to close first quarter of 2008.)
- DALBAR Award recipient for service (5th consecutive win).
Overview
The institutional financial solutions group provides customized wealth creation, financial protection, and income solutions for institutions, corporations, and individuals. The group fulfills that mission through a consultative approach, award-winning service, and broad product breadth. Our products address a broad spectrum of complex financial needs, such as optimizing investment performance, managing risk, and providing guaranteed income.
2007 highlights
- Record deposits of $11.2 billion, up 76% over 2006 including:
- -Private Placement Life Insurance deposits of $5.2 billion, an increase of nearly 400% over 2006.
- -Institutional mutual fund deposits of $1.7 billion, up 46%.
- -Structured settlements deposits of $1.1 billion, up 71%.
- Assets under management reached a new high of $61.5 billion, an increase of 21%.
- Record core earnings of $140 million, an increase of 36% over 2006.
Overview
The individual life insurance group offers a broad product portfolio of variable universal life, universal life, whole life, and term life insurance. Our products provide liquidity for estate taxes, income replacement for families, protection and tax-preferred benefits for small businesses, and more. These products are distributed through a wide network of national and regional broker-dealer organizations, banks, and independent financial advisors, as well as through independent life and property-casualty agents and Woodbury Financial Services, an affiliated retail broker-dealer.
2007 highlights
- A leader in variable universal life insurance.
- Record-breaking sales of $286 million, up 1% over 2006.
- Life insurance in force exceeded $179 billion, an increase of 9%.
- Account value of $12.3 billion, up 9% over 2006.
- Introduced LifeAccess living benefits rider, which allows policyholders to use their death benefit to pay for chronic illness costs.
- DALBAR Award recipient for life insurance service (7th consecutive win) and post-sale financial intermediary service (6th consecutive win).
Overview
The group benefits insurance group provides a portfolio of insurance products to employers, associations, and affinity groups that offer protection to employees and group members. These products include short- and long-term disability insurance, and group life and accident insurance. Other specialty products include retiree health insurance policies sold through brokers and third-party administrators. The group benefits team also offers a comprehensive suite of voluntary products to meet the needs of today’s consumers.
2007 highlights
- No. 2 provider of fully-insured group disability insurance and the No. 3 provider of group life insurance as of second-quarter 2007, according to LIMRA International.
- Created a specialized team of clinical professionals to facilitate disabled employees’ safe return to the workplace.
- Divested medical stop loss business in April.
- Record core earnings of $338 million, a 10% increase over 2006.
Overview
The Hartford’s international group provides retirement savings, wealth creation, and financial protection solutions for individual investors in Japan, the United Kingdom, and Brazil.
2007 highlights
- A leading provider of variable annuities in Japan, with a 24% share of the market’s assets under management, as of September 30, 2007.
- Introduced a new variable annuity product in Japan to satisfy customer demand for shorter deferral periods.
- Surpassed 500,000 policyholders in Japan.
- Launched a unique personal pension product in the United Kingdom, which was awarded “Best Innovation” for 2007 by Moneyfacts magazine.
- Superior customer service in the United Kingdom. Recipient of two five-star Financial Adviser Service Awards, the U.K. equivalent of the DALBAR and the highest ranking a provider can attain.
*At this time, The Hartford discloses sales and asset information only for its Japan operation.