The Hartford Financial Services Group is a leading provider of wealth management services and insurance products. Founded in 1810, The Hartford has global operations and serves both individuals and businesses as customers.
The Hartford's insurance businesses operate in the areas of property and casualty insurance, life insurance and investments. Property and Casualty lines include auto insurance, homewoners insurance and disability insurance.
On the life insurance side, The Hartford offers life and disability insurance.
Investment-related offerings include mutual funds, annuities, individual retirement accounts (IRAs) and college savings plans.
Historically, The Hartford has had a strong presence as a leader and innovator in the variable annuity market. Recently, however, The Hartford made decisions to exit the annuity market.
| The Hartford Product Reviews |
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| Products Offered |
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| General Information | |
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| Website | http://www.thehartford.com |
| Type | Insurance Company |
| Founded | 1810 |
| Ownership | |
| Country | USA |
| Contact Information | |
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| Address | Hartford, CT 6155 |
| Phone | 860-547-5000 |
| Fax | |
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Variable annuity sales in the United States decreased 24% for the three month period ending June 30. Total variable annuity sales for the second quarter were $31.9 billion, a 24% decrease from $42.2 billion during the same period in 2008. AIG and Hartford Financial Services Group were especially hard-hit with sales decreasing more than 50%. In contrast, sales at MetLife rose 27% to $4.5 billion, making the company the leading provider of variable annuities in the U.S. Source: Bloomberg |
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S&P raised its ratings outlook on The Hartford Financial Services Group from negative to stable. The Hartford had received a series of ratings downgrades in light of the financial crisis and its impact on the company's variable annuity business. The ratings revision appears to be attributable in large part to the $3.4 billion in TARP funds that The Hatford received from the federal government. S&P considers The Hartford's life and annuity subsidiaries to be at "A" (strong) levels. Source: Hartford Courant |
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The CEO of the Hartford Financial Services Group, Ramani Ayer, will step down from the post by the end of 2009. Mr. Ayer has been with the Hartford for 36 years and has been CEO for 12 years. He has been the chief architect of the company's aggressive pursuit of variable annuity business. The Hartford has been one of the most active companies in the variable annuity space over the past several years. This line of business has been particularly painful for the company in light of fallout from the financial crisis. The Hartford is also set to receive up to $3.4 billion in the next several weeks from the Treasury's Capital Purchase Program. Source: Wall Street Journal (subscription required) |
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