Company Profile
At A Glance |
Founded in 1810, The Hartford is recognized for its financial strength and stability, operational excellence and superior customer service.
| 2007 Revenues | $25.9 billion |
| 2007 Net Income | $2.9 billion |
| 2007 Core Earnings¹ | $3.5 billion |
| 2007 Assets | $360.4 billion |
| 2007 Liabilities | $341.2 billion |
| 2007 Stockholders' Equity | $19.2 billion |
* All charts reflect 2007 Life and P&C Core Earnings. Customer base chart excludes P&C Other Operations.
The Hartford's Selected Financial Data
| ($ in millions) | 2007 | 2006 | 2005 |
|---|---|---|---|
| Revenues | $25,916 | $26,500 | $27,083 |
| Written Premiums (P&C Ongoing Operations)2 |
10,435 | 10,658 | 10,483 |
| Earned Premiums (P&C Ongoing Operations) |
10,491 | 10,428 | 10,152 |
| Life Premiums, Fee Income and Other Revenues | 10,543 | 9,316 | 8,203 |
| Net Income | 2,949 | 2,745 | 2,274 |
| Core Earnings | 3,507 | 2,865 | 2,242 |
| Assets Under Management3 | 426,764 | 377,433 | 322,827 |
| Mutual Fund Assets | 55,531 | 43,732 | 32,705 |
| Stockholders' Equity | 19,204 | 18,876 | 15,325 |
| Combined Ratio (P&C Ongoing Operations) |
90.8% | 89.3% | 93.2% |
2007 Market Rankings
|
One of Fortune’s Most Admired Companies. A Fortune 100 Company (95th). One of Forbes’ World’s Largest Companies (140th). A DALBAR Award Winner for Customer Service. |
| Property and Casualty |
|
#11 property and casualty insurer, based on direct written premiums. #5 commercial insurance carrier, based on direct written premiums. #12 personal lines carrier, based on direct written premiums. #5 workers’ compensation insurer, based on direct written premiums. Recognized for providing "An Outstanding Customer Service Experience" under J.D. Power and Associates Certified Call Center Program.SM #5 direct personal auto carrier. |
| Life |
|
#4 life insurance group, based on statutory assets. #1 in variable annuity assets under management in Japan. #3 seller of retail variable annuities in the U.S. #1 in fully insured group disability sales. #1 in variable universal life total premiums. #3 in fully insured group life sales. |
The Hartford Employment
| Worldwide | 31,000 |
| U.S. | 30,250 |
| Connecticut | 13,000 |
Ratings
| A.M. Best | Fitch | Moody's | Standard & Poor's | |
|---|---|---|---|---|
| Hartford Fire Insurance Company | A+ | AA | Aa3 | AA- |
| Hartford Life Insurance Company | A+ | AA | Aa3 | AA- |
| Hartford Life and Accident Insurance Company | A+ | AA | Aa3 | AA- |
| Hartford Life and Annuity Insurance Company | A+ | AA | Aa3 | AA- |
| Hartford Life Insurance KK (Japan) | - | - | - | AA- |
| Hartford Life Limited (Ireland) | - | - | - | AA- |
Consolidated Investment Portfolio
| (December 31, 2007) | |||
| FIXED MATURITIES | COMPOSITION OF INVESTMENT ASSETS |
||
|---|---|---|---|
| AAA Bonds | 35.4 % | Fixed Maturities | 61.1 % |
| AA Bonds | 13.7 % | Equity Securities, trading | 27.6 % |
| A Bonds | 21.3 % | Mortgage Loans | 4.1 % |
| BBB Bonds | 18.7 % | Equity Securities, available for sale | 2.0 % |
| Gov’t Bonds | 6.5 % | Limited Partnerships | 1.9 % |
| BB and Below Bonds | 4.4 % | Policy Loans | 1.6 % |
| Short-term | 1.2 % | ||
| Other | 0.5 % | ||
| 100.0 % | 100.0 % | ||
Selected Companies of the Hartford
| Property & Casualty |
|
Hartford Accident and Indemnity Company Hartford Casualty Insurance Company Hartford Fire Insurance Company Hartford Insurance Company of Illinois Hartford Insurance Company of the Midwest Hartford Insurance Company of the Southeast Hartford Lloyd’s Insurance Company Hartford Underwriters Insurance Company Nutmeg Insurance Company Pacific Insurance Company, Limited Property and Casualty Insurance Company of Hartford Sentinel Insurance Company, Ltd. Trumbull Insurance Company Twin City Fire Insurance Company |
| Hartford Life, Inc. |
|
Hartford Life and Accident Insurance Company Hartford Life and Annuity Insurance Company Hartford Life Insurance Company Hartford Life Private Placement, LLC Hartford International Life Reassurance Corporation The Hartford Mutual Funds, Inc. PLANCO Financial Services, LLC Woodbury Financial Services, Inc. |
| International |
|
Excess Insurance Company, Limited (United Kingdom) Hartford International Management Services Company, LLC (U.S.) Hartford Investments Canada Corp. (Canada) Hartford Life Insurance K.K. (Japan) Hartford Life International, Ltd. (U.S.) Hartford Life Limited (Europe) Hartford Management, Ltd. (Bermuda) Heritage Reinsurance Company, Ltd. (Bermuda) Icatu Hartford Capitalizaçao, S.A. (Brazil) New Ocean Insurance Company, Ltd. (Bermuda) |
| Investment Services Operations |
|
Hartford Investment Financial Services, LLC Hartford Investment Management Company |
| Service Companies |
|
1st Ag Choice, Inc. Business Management Group, Inc. Hartford – Comprehensive Employee Benefit Service Company HL Investment Advisors, LLC Horizon Management Group, LLC Specialty Risk Services, LLC Trumbull Services, LLC |
1 The Hartford uses the non-GAAP financial measure core earnings as an important measure of the company’s operating performance. The Hartford believes that the measure core earnings provides investors with a valuable measure of the performance of the Company’s ongoing businesses because it reveals trends in our insurance and financial services businesses that may be obscured by the net effect of certain realized capital gains and losses. Some realized capital gains and losses are primarily driven by investment decisions and external economic developments, the nature and timing of which are unrelated to the insurance and underwriting aspects of our business. Accordingly, core earnings excludes the effect of all realized gains and losses (net of tax and the effects of deferred policy acquisition costs) that tend to be highly variable from period to period based on capital market conditions. The Hartford believes, however, that some realized capital gains and losses are integrally related to our insurance operations, so core earnings includes net realized gains and losses such as net periodic settlements on credit derivatives and net periodic settlements on the Japan fixed annuity cross-currency swap. These net realized gains and losses are directly related to an offsetting item included in the income statement such as net investment income. Core earnings is also used by management to assess our operating performance and is one of the measures considered in determining incentive compensation for our managers. Net income is the most directly comparable GAAP measure. Core earnings should not be considered as a substitute for net income and does not reflect the overall profitability of our business. Therefore, The Hartford believes that it is useful for investors to evaluate both net income and core earnings when reviewing the company’s performance.
2 Written premiums is a statutory accounting financial measure used by The Hartford as an important indicator of the operating performance of the company’s property and casualty operations. Written premium represents the amount of premium charged for policies issued, net of reinsurance, during a fiscal period. Earned premium, the most directly comparable GAAP measure, represents all premiums that are recognized as revenues during a fiscal period. The difference between written premium and earned premium is attributable to the change in unearned premium reserves.
3 Includes mutual fund assets and third party assets managed by Hartford Investment Management Company.
Last updated: 05/08
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| 07/08/2008 4:14 PM/ET | ||
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