Current Report

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 3, 2009

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

(Exact name of registrant as specified in its charter)


Delaware	001-13958	13-3317783

(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


The Hartford Financial Services Group, Inc. One Hartford Plaza Hartford, Connecticut		06155

(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (860) 547-5000

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On November 3, 2009, The Hartford Financial Services Group, Inc. issued its Investor Financial Supplement (“IFS”) relating to its financial results for the quarter ended September 30, 2009. A copy of the IFS is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits


Exhibit No.
	99.1	Investor Financial Supplement of The Hartford Financial Services Group, Inc. for the quarter ended September 30, 2009

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	THE HARTFORD FINANCIAL SERVICES GROUP, INC.
Date: November 3, 2009	By:	/s/ Beth A. Bombara
		Name:	Beth A. Bombara
		Title:	Senior Vice President and Controller

EXHIBIT INDEX


Exhibit No.
	99.1	Investor Financial Supplement of The Hartford Financial Services Group, Inc. for the quarter ended September 30, 2009

Exhibit 99.1

INVESTOR FINANCIAL SUPPLEMENT

SEPTEMBER 30, 2009

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

Address:
One Hartford Plaza
Hartford, CT 06155

Internet address:
http://www.thehartford.com

Contacts:

Rick Costello
Senior Vice President
Investor Relations
Phone (860) 547-8480

JR (John) Reilly
Vice President
Investor Relations
Phone (860) 547-9140

Margaret Mann
Program Assistant
Investor Relations
Phone (860) 547-3800


As of November 3, 2009	A.M. Best	Fitch	Standard & Poor’s	Moody’s

*Insurance Financial Strength Ratings:*
Hartford Fire Insurance Company	A	A+	A	A2
Hartford Life Insurance Company	A	A-	A	A3
Hartford Life and Accident Insurance Company	A	A-	A	A3
Hartford Life and Annuity Insurance Company	A	A-	A	A3
Hartford Life Insurance KK (Japan)	—	—	A	—
Hartford Life Limited (Ireland)	—	—	A	—
*Other Ratings:*
The Hartford Financial Services Group, Inc.:
Senior debt	bbb+	BBB-	BBB	Baa3
Commercial paper	AMB-2	F2	A-2	P-3
Junior subordinated debentures	bbb-	BB	BB+	Ba1

Hartford Life, Inc.:
Senior debt	bbb+	BBB-	BBB	Baa3

Hartford Life Insurance Company:
Short term rating	—	—	A-1	P-2
Consumer notes	a	BBB+	A	Baa1

TRANSFER AGENT
The Bank of New York Mellon
BNY Mellon Shareowner Services
480 Washington Boulevard
Jersey City, NJ 07310
1 (877) 272-7740

COMMON STOCK

Common stock of The Hartford Financial Services Group, Inc. is traded on the New York Stock Exchange under the symbol “HIG”.

This report is for information purposes only. It should be read in conjunction with documents filed by The Hartford Financial Services Group, Inc. with the

U.S. Securities and Exchange Commission, including the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
INVESTOR FINANCIAL SUPPLEMENT
TABLE OF CONTENTS


Basis of Presentation	i, ii, iii

CONSOLIDATED
Consolidated Financial Results		C-1
Operating Results by Segment		C-2
Analysis of Operating Results by Segment		C-2a
Consolidating Statements of Operations
Three Months Ended September 30, 2008 and 2009		C-3
Nine Months Ended September 30, 2008 and 2009		C-4
Consolidating Balance Sheets
As of December 31, 2008 and September 30, 2009		C-5
Capital Structure		C-6
Accumulated Other Comprehensive Loss		C-7
Computation of Basic and Diluted Earnings (Losses) Per Common Share		C-8
Analysis of Net Realized Capital Gains (Losses) After-tax and DAC
Three Months Ended September 30, 2008 and 2009		C-9
Nine Months Ended September 30, 2008 and 2009		C-10
Computation of Return-on-Equity Measures		C-11

LIFE
Financial Highlights		L-1
Financial Highlights Excluding Impacts of the Unlock		L-1a
Operating Results		L-2
Total Assets Under Management		L-3
Consolidated Balance Sheets		L-4
Deferred Policy Acquisition Costs and Present Value of Future Profits		L-5
Supplemental Data — Annuity Death and Income Benefits		L-6
Reinsurance Recoverable Analysis
As of September 30, 2009		L-7
Statutory Surplus to GAAP Stockholders’ Equity Reconciliation		L-8
Retail Products Group
Income Statements
Individual Annuity		L-9
Other		L-10
Supplemental Data
Deposits		L-11
Assets Under Management		L-12
Individual Annuity — Account Value Rollforward		L-13
Other Retail — Asset Rollforward		L-14
Individual Life
Income Statements		L-15
Supplemental Data		L-16
Account Value Rollforward		L-17
Group Benefits
Income Statements		L-18
Supplemental Data		L-19
Retirement Plans
Income Statements		L-20
Supplemental Data
Deposits		L-21
Assets Under Management and Administration		L-22
Account Value and Asset Rollforward		L-23
International
Highlights		L-24
Japan
Income Statements		L-25
Supplemental Data — Account Value Rollforward in Dollars		L-26
Supplemental Data — Account Value Rollforward in Yen		L-27
Institutional Solutions Group
Income Statements		L-28
Supplemental Data
Deposits		L-29
Assets Under Management		L-30
Account Value and Asset Rollforward		L-31

PROPERTY & CASUALTY
Financial Highlights	PC-1
Operating Results	PC-2
Ongoing Operations Operating Results	PC-3
Ongoing Operations Consolidating Underwriting Results
Three Months Ended September 30, 2009	PC-4
Nine Months Ended September 30, 2009	PC-5
Ongoing Operations Underwriting Results	PC-6
Personal Lines Underwriting Results	PC-7
Personal Lines Written and Earned Premiums	PC-8
Small Commercial Underwriting Results	PC-9
Middle Market Underwriting Results	PC-10
Specialty Commercial Underwriting Results	PC-11
Specialty Commercial Written and Earned Premiums	PC-12
Other Operations Operating Results	PC-13
Other Operations Losses and Loss Adjustment Expenses	PC-14
Summary of Gross Environmental Reserves	PC-15
Paid and Incurred Loss and Loss Adjustment Expense Development — A&E	PC-16
Unpaid Loss and Loss Adjustment Expense Reserve Rollforward
Three Months Ended September 30, 2009	PC-17
Nine Months Ended September 30, 2009	PC-18
Reinsurance Recoverable Analysis	PC-19
Consolidated Income Statements	PC-20
Consolidated Balance Sheets	PC-21
Statutory Surplus to GAAP Stockholders’ Equity Reconciliation	PC-22

INVESTMENTS
Investment Earnings Before-tax
Consolidated		I-1
Life		I-2
Property & Casualty		I-3
Corporate		I-4
Net Realized Capital Gains (Losses), After-tax/DAC
Three and Nine Months Ended September 30, 2009 and 2008		I-5
Composition of Invested Assets
Consolidated		I-6
Life		I-7
Property & Casualty		I-8
Corporate		I-9
Unrealized Loss Aging
Consolidated		I-10
Life		I-11
Property & Casualty		I-12
Invested Asset Exposures
As of September 30, 2009		I-13

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
BASIS OF PRESENTATION

DEFINITIONS AND PRESENTATION

•		All amounts are in millions, except for per share and ratio information unless otherwise stated.

•		Life is organized into four groups which are comprised of six reporting segments: The Retail Products Group (“Retail”) and Individual Life segments make up the Individual Markets Group. The Retirement Plans and Group Benefits segments make up the Employer Markets Group. The Institutional Solutions Group (“Institutional”) and International segments each make up their own group. Life also includes in an Other category its leveraged PPLI product line of business; corporate items not directly allocated to any of its reportable operating segments; the mark-to-market adjustment for the equity securities, trading, reported in net investment income and the related change in interest credited reported as a component of benefits, losses and loss adjustment expenses because these items are not considered by Life’s chief operating decision maker in evaluating the International results of operations; and inter-segment eliminations.

•		Property & Casualty includes Ongoing Operations and Other Operations. Ongoing Operations includes the underwriting results of Personal Lines, Small Commercial, Middle Market and Specialty Commercial segments. Other Operations includes the underwriting results of certain property and casualty insurance operations that have discontinued writing new business and substantially all of the Company’s asbestos and environmental exposures. The profitability of the Personal Lines, Small Commercial, Middle Market and Specialty Commercial segments are evaluated primarily based on underwriting results. The Company allocates income and expense items not directly attributed to the underwriting segments, such as net investment income, net realized capital gains and losses, other expenses and income taxes, to Ongoing Operations and Other Operations, respectively. The profitability of Ongoing Operations and the Other Operations segment is evaluated primarily based on core earnings.

•		Corporate primarily includes the Company’s debt financing and related interest expense, as well as other capital raising, banking operations and certain purchase accounting adjustment activities.

•		Certain operating and statistical measures have been incorporated herein to provide supplemental data that indicate current trends in The Hartford’s business. These measures include sales, deposits, net flows, account value, insurance in-force and premium retention. Premium retention is defined as renewal premium written in the current period divided by total premium written in the prior period.

•		The Hartford, along with others in the property and casualty insurance industry, uses underwriting ratios as measures of performance. The loss and loss adjustment expense ratio is the ratio of losses and loss adjustment expenses to earned premiums. The expense ratio is the ratio of underwriting expenses (amortization of deferred policy acquisition costs, as well as other underwriting expenses) to earned premiums. The policyholder dividend ratio is the ratio of policyholder dividends to earned premiums. The combined ratio is the sum of the loss and loss adjustment expense ratio, the expense ratio and the policyholder dividend ratio. These ratios are relative measurements that describe the related cost of losses and expenses for every $100 of earned premiums. A combined ratio below 100 demonstrates underwriting profit; a combined ratio above 100 demonstrates underwriting losses. The catastrophe ratio (a component of the loss ratio) represents the ratio of catastrophe losses to earned premiums.

•		The Hartford, along with others in the life insurance industry, uses underwriting ratios as measures of the Group Benefits segment’s performance. The loss ratio is the ratio of total benefits, losses and loss adjustment expenses, excluding buyouts, to total premiums and other considerations excluding buyout premiums. The expense ratio is the ratio of insurance operating costs and other expenses to total premiums and other considerations excluding buyout premiums.

•		Accumulated other comprehensive income (“AOCI”) represents net of tax unrealized gain (loss) on available-for-sale securities; net gain (loss) on cash-flow hedging instruments; foreign currency translation adjustments; and pension and other postretirement adjustments.

•		Noncontrolling interest (“NCI”) represents the minority interest portion of the equity of a subsidiary that is not attributable, directly or indirectly, to The Hartford.

•		Assets under management is a measure used by the Company because a significant portion of the Company’s revenues are based upon asset values. These revenues increase or decrease with a rise or fall in the amount of assets under management whether caused by changes in the market or through net flow.

•		Assets under administration represents the client asset base of the Company’s recordkeeping business for which revenues are predominately based on the number of plan participants. Unlike assets under management, increases or decreases in assets under administration do not have a direct corresponding increase or decrease to the Company’s revenues.

•		Yields calculated using annualized net investment income (excluding income related to equity securities, trading) divided by the monthly average invested assets at cost, amortized cost, or adjusted carrying value, as applicable, excluding equity securities, trading, collateral received associated with the securities lending program and consolidated variable interest entity non-controlling interests.

•		Certain reclassifications have been made to the prior periods to conform to the September 30, 2009 presentation.

•		NM — Not meaningful means increases or decreases greater than or equal to 200%, or changes from a net gain to a net loss position, or vice versa.

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
BASIS OF PRESENTATION (CONTINUED)

DISCUSSION OF NON-GAAP AND OTHER FINANCIAL MEASURES

•		The Hartford uses non-GAAP and other financial measures in this Investor Financial Supplement to assist investors in analyzing the Company’s operating performance for the periods presented herein. Because The Hartford’s calculation of these measures may differ from similar measures used by other companies, investors should be careful when comparing The Hartford’s non-GAAP and other financial measures to those of other companies.

•		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 (“DAC”)) 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. A reconciliation of net income to core earnings for the periods presented herein is set forth on page C-2.

•		Core earnings per share is calculated based on the non-GAAP financial measure core earnings. The Hartford believes that the measure core earnings per share provides investors with a valuable measure of the Company’s operating performance for many of the same reasons applicable to its underlying measure, core earnings. Net income per share is the most directly comparable GAAP measure. Core earnings per share should not be considered as a substitute for net income per share 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 per share and core earnings per share when reviewing our performance. A reconciliation of net income per share to core earnings per share for the periods presented herein is set forth on page C-8.

•		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. Because written premiums represents the amount of premium charged for policies issued, net of reinsurance, during a fiscal period, The Hartford believes it is useful to investors because it reflects current trends in The Hartford’s sale of property and casualty insurance products. Earned premiums, the most directly comparable GAAP measure, represents all premiums that are recognized as revenues during a fiscal period. The difference between written premiums and earned premiums is attributable to the change in unearned premium reserves. A reconciliation of written premiums to earned premiums for the periods presented herein is set forth at page PC-2.

•		The Hartford’s management evaluates profitability of the Personal Lines, Small Commercial, Middle Market and Specialty Commercial underwriting segments primarily on the basis of underwriting results. Underwriting results is a before-tax measure that represents earned premiums less incurred losses, loss adjustment expenses and underwriting expenses. Net income is the most directly comparable GAAP measure. Underwriting results are influenced significantly by earned premium growth and the adequacy of The Hartford’s pricing. Underwriting profitability over time is also greatly influenced by The Hartford’s underwriting discipline, which seeks to manage exposure to loss through favorable risk selection and diversification, its management of claims, its use of reinsurance and its ability to manage its expense ratio, which it accomplishes through economies of scale and its management of acquisition costs and other underwriting expenses. The Hartford believes that underwriting results provides investors with a valuable measure of before-tax profitability derived from underwriting activities, which are managed separately from the Company’s investing activities. Underwriting results is also presented for Ongoing Operations, Other Operations and total Property & Casualty. A reconciliation of underwriting results to net income for total Property & Casualty, Ongoing Operations and Other Operations is set forth on pages PC-2, PC-3 and PC-13, respectively.

•		A catastrophe is a severe loss, resulting from natural or manmade events, including risks such as fire, earthquake, windstorm, explosion, terrorist attack and similar events. Each catastrophe has unique characteristics. Catastrophes are not predictable as to timing or loss amount in advance, and therefore their effects are not included in earnings or losses and loss adjustment expense reserves prior to occurrence. The Hartford believes that a discussion of the effect of catastrophes is meaningful for investors to understand the variability of periodic earnings.

•		Underwriting results before catastrophes and prior year development is a non-GAAP financial measure because it excludes the effects of catastrophes, prior year development and the reduction in earned premiums relating to retrospectively rated policies. The Company believes that this measure is useful to investors as an additional measure of Property & Casualty’s current operations, because it excludes the effect of items relating to prior periods. Net income is the most directly comparable GAAP measure. A reconciliation of the adjusted underwriting results to underwriting results and net income for the periods presented herein are set forth on page C-2a.

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
BASIS OF PRESENTATION (CONTINUED)

DISCUSSION OF NON-GAAP AND OTHER FINANCIAL MEASURES (CONTINUED)

•		Book value per common share excluding accumulated other comprehensive income (“AOCI”) is calculated based upon a non-GAAP financial measure. It is calculated by dividing (a) common stockholders’ equity excluding AOCI, net of tax, by (b) common shares outstanding plus assumed conversion of preferred shares to common. The Hartford provides book value per common share excluding AOCI to enable investors to analyze the amount of the Company’s net worth that is primarily attributable to the Company’s business operations. The Hartford believes book value per common share excluding AOCI is useful to investors because it eliminates the effect of items that can fluctuate significantly from period to period, primarily based on changes in interest rates. Book value per common share is the most directly comparable GAAP measure. A reconciliation of book value per common share to book value per common share excluding AOCI for the periods presented herein is set forth at page C-1.

•		The Hartford provides different measures of the return on common equity (“ROE”) of the Company. ROE (core earnings last twelve months to common equity excluding AOCI), is calculated based on non-GAAP financial measures. ROE (core earnings last twelve months to common equity excluding AOCI) is calculated by dividing (a) core earnings for the prior four fiscal quarters by (b) average common stockholders’ equity excluding AOCI. The Hartford provides to investors return-on-equity measures based on its non-GAAP core earnings financial measures for the reasons set forth in the related discussion above. The Hartford excludes AOCI in the calculation of these return-on-equity measures to provide investors with a measure of how effectively the Company is investing the portion of the Company’s net worth that is primarily attributable to the Company’s business operations. ROE (net income last twelve months to common equity including AOCI) is the most directly comparable GAAP measure. A reconciliation of the non-GAAP return-on-equity measures for the periods presented herein to ROE (net income last twelve months to common equity including AOCI) is set forth at page C-11.

iii

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
CONSOLIDATED FINANCIAL RESULTS


																Year Over
	THREE MONTHS ENDED															Year			Sequential			NINE MONTHS ENDED
	Sept. 30,			Dec. 31,			Mar. 31,			Jun. 30,			Sept. 30,			3 Month			3 Month			SEPTEMBER 30,
	2008			2008			2009			2009			2009			Change			Change			2008			2009			Change
HIGHLIGHTS
Net income (loss)	$	(2,631	)	$	(806	)	$	(1,209	)	$	(15	)	$	(220	)		92	%	NM			$	(1,943	)	$	(1,444	)		26	%
Core earnings (losses)	$	(422	)	$	(208	)	$	(1,175	)	$	622		$	660		NM				6	%	$	1,066		$	107			(90	%)
Total revenues [1]	$	(393	)	$	565		$	5,394		$	7,637		$	5,230		NM				(32	%)	$	8,654		$	18,261			111	%
Total assets	$	311,485		$	287,583		$	276,168		$	289,700		$	316,720			2	%		9	%
Total assets under management [2]	$	384,981		$	345,451		$	330,187		$	352,074		$	386,996			1	%		10	%

PER SHARE AND SHARES DATA [3]
Basic earnings per common share
Net income (loss) available to common shareholders	$	(8.74	)	$	(2.71	)	$	(3.77	)	$	(0.06	)	$	(0.79	)		91	%	NM			$	(6.29	)	$	(4.52	)		28	%
Core earnings (losses) available to common shareholders	$	(1.40	)	$	(0.72	)	$	(3.66	)	$	1.90		$	1.68		NM				(12	%)	$	3.45		$	0.13			(96	%)
Diluted earnings (losses) per common share
Net income (loss) available to common shareholders	$	(8.74	)	$	(2.71	)	$	(3.77	)	$	(0.06	)	$	(0.79	)		91	%	NM			$	(6.29	)	$	(4.52	)		28	%
Core earnings (losses) available to common shareholders	$	(1.40	)	$	(0.72	)	$	(3.66	)	$	1.90		$	1.56		NM				(18	%)	$	3.44		$	0.12			(96	%)
Weighted average common shares outstanding (basic)		301.1			300.2			320.8			325.4			356.1		55.0		sh	30.7		sh		308.8			334.1			25.3	sh
Weighted average common shares outstanding and dilutive potential common shares (diluted)		302.1			320.9			321.5			326.6			382.5		80.4		sh	55.9		sh		310.3			343.6			33.3	sh
Common shares outstanding assuming conversion of outstanding convertible preferred shares to common		300.4			324.8			325.4			326.7			383.0		82.6		sh	56.3		sh		300.4			383.0			82.6	sh
Book value per common share	$	41.80		$	28.53		$	24.15		$	32.20		$	37.90			(9	%)		18	%
Per common share impact of AOCI	$	(13.83	)	$	(23.16	)	$	(23.98	)	$	(20.24	)	$	(8.40	)		39	%		58	%
Book value per common share (excluding AOCI)	$	55.63		$	51.69		$	48.13		$	52.44		$	46.30			(17	%)		(12	%)
Book value per diluted share													$	34.64
Common shares outstanding and dilutive potential common shares														419.1

FINANCIAL RATIOS
ROE (net income last 12 months to common stockholder equity including AOCI) [4]		(8.6	%)		(19.3	%)		(31.9	%)		(34.2	%)		(17.2	%)		(8.6	)		17.0
ROE (core earnings last 12 months to common stockholder equity excluding AOCI) [4]		10.5	%		4.7	%		(6.2	%)		(6.5	%)		(1.0	%)		(11.5	)		5.5
Debt to capitalization including AOCI		30.6	%		40.2	%		44.0	%		30.3	%		25.1	%		(5.5	)		(5.2	)
Annualized investment yield, after-tax		3.2	%		2.2	%		2.6	%		2.9	%		2.9	%		(0.3	)		—			3.5	%		2.8	%		(0.7	)
Ongoing Property & Casualty GAAP combined ratio		101.7			77.6			89.9			93.7			93.0			8.7			0.7			95.1			92.2			2.9


[1]		Total revenues of The Hartford are impacted by net investment income and mark-to-market effects of equity securities, trading, supporting the international variable annuity business, which have corresponding amounts credited to policyholders within benefits, losses and loss adjustment expenses. See pages C-3 and C-4 for the impact to total revenues along with the corresponding amounts in benefits, losses and loss adjustment expenses in the three months and nine months ended September 30, 2008 and 2009.

[2]		Includes mutual fund assets (see page L-3) and third party assets managed by HIMCO (see page I-6).

[3]		See page C-8 for computation of basic and diluted earnings (losses) per common share.

[4]		See page C-11 for a computation of return-on-equity measures.

C-1

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
OPERATING RESULTS BY SEGMENT
(A reconciliation of core earnings (losses) to net income (loss) for each of the segments is set forth on the respective segment pages contained in this supplement.)


																Year over
	THREE MONTHS ENDED															Year			Sequential			NINE MONTHS ENDED
	Sept. 30,			Dec. 31,			Mar. 31,			Jun. 30,			Sept. 30,			3 Month			3 Month			SEPTEMBER 30,
	2008			2008			2009			2009			2009			Change			Change			2008			2009			Change
LIFE
Retail Products Group
Individual Annuity	$	(552	)	$	(198	)	$	(924	)	$	307		$	313		NM				2	%	$	(189	)	$	(304	)		(61	%)
Other Retail		13			(2	)		1			5			11			(15	%)		120	%		40			17			(58	%)

Total Retail Products Group		(539	)		(200	)		(923	)		312			324		NM				4	%		(149	)		(287	)		(93	%)
Individual Life		8			26			—			43			28		NM				(35	%)		92			71			(23	%)

Total Individual Markets Group		(531	)		(174	)		(923	)		355			352		NM				(1	%)		(57	)		(216	)	NM

Group Benefits		100			90			66			41			85			(15	%)		107	%		255			192			(25	%)
Retirement Plans		(36	)		(3	)		(54	)		6			15		NM				150	%		14			(33	)	NM

Total Employer Markets Group		64			87			12			47			100			56	%		113	%		269			159			(41	%)

International Markets Group		(75	)		(110	)		(455	)		142			81		NM				(43	%)		56			(232	)	NM

Institutional Solutions Group		1			(40	)		(20	)		(5	)		(7	)	NM				(40	%)		50			(32	)	NM

Other [1]		—			(24	)		5			(46	)		(27	)	NM				41	%		(16	)		(68	)	NM

Total Life core earnings (losses) [1][2][3]		(541	)		(261	)		(1,381	)		493			499		NM				1	%		302			(389	)	NM

PROPERTY & CASUALTY
Ongoing Operations Underwriting Results
Personal Lines		(45	)		202			75			(10	)		(11	)		76	%		(10	%)		78			54			(31	%)
Small Commercial		82			167			87			74			90			10	%		22	%		270			251			(7	%)
Middle Market		(37	)		148			69			56			61		NM				9	%		21			186		NM
Specialty Commercial		(44	)		58			23			36			30		NM				(17	%)		13			89		NM

Total Ongoing Operations underwriting results		(44	)		575			254			156			170		NM				9	%		382			580			52	%
Net servicing income		14			10			8			7			10			(29	%)		43	%		21			25			19	%
Net investment income		285			127			185			239			254			(11	%)		6	%		929			678			(27	%)
Periodic net coupon settlements on credit derivatives, before-tax		2			(3	)		(3	)		(4	)		(3	)	NM				25	%		5			(10	)	NM
Other expenses		(58	)		(39	)		(50	)		(48	)		(47	)		19	%		2	%		(180	)		(145	)		19	%
Income tax expense		(39	)		(236	)		(97	)		(87	)		(106	)		(172	%)		(22	%)		(316	)		(290	)		8	%

Ongoing Operations core earnings		160			434			297			263			278			74	%		6	%		841			838			—

Other Operations core earnings (losses) [4]		(4	)		18			24			(51	)		(32	)	NM				37	%		24			(59	)	NM


Total Property & Casualty core earnings		156			452			321			212			246			58	%		16	%		865			779			(10	%)

Total Corporate core losses [1][3]		(37	)		(399	)		(115	)		(83	)		(85	)		(130	%)		(2	%)		(101	)		(283	)		(180	%)


CONSOLIDATED
Core earnings (losses)		(422	)		(208	)		(1,175	)		622			660		NM				6	%		1,066			107			(90	%)
Add: Net realized capital losses, net of tax and DAC, excluded from core earnings (losses) [5]		(2,209	)		(598	)		(34	)		(637	)		(880	)		60	%		(38	%)		(3,009	)		(1,551	)		48	%

Net loss	$	(2,631	)	$	(806	)	$	(1,209	)	$	(15	)	$	(220	)		92	%	NM			$	(1,943	)	$	(1,444	)		26	%


PER SHARE DATA [6]
Diluted earnings (losses) per common share
Core earnings (losses) available to common shareholders	$	(1.40	)	$	(0.72	)	$	(3.66	)	$	1.90		$	1.56		NM				(18	%)	$	3.44		$	0.12			(96	%)
Net income (loss) available to common shareholders	$	(8.74	)	$	(2.71	)	$	(3.77	)	$	(0.06	)	$	(0.79	)		91	%	NM			$	(6.29	)	$	(4.52	)		28	%


[1]		Included in Life are the after-tax restructuring charges of $54 and $18 recorded in the three months ended June 30, 2009 and September 30, 2009, respectively. Also, included in Corporate is the after-tax restructuring charge of $4 recorded in the three months ended September 30, 2009.

[2]		Includes the after-tax charge of $152 recorded in the three months ended December 31, 2008 for the effect of the triggering of the guaranteed minimum income benefit for the 3Win product on amortization of deferred policy acquisition costs and policyholder benefits and additional 3Win related charges recorded in the three months ended March 31, 2009 of $40. See page L-26 for additional information on the 3Win Trigger.

[3]		As a result of goodwill testing performed during the three months ended December 31, 2008, the Company wrote off goodwill of $274 and $323, after-tax, in Life and Corporate, respectively. Goodwill testing during the three months ended March 31, 2009 resulted in a goodwill impairment of $32 in Corporate.

[4]		The three months ended September 30, 2008 included an environmental reserve increase of $34, after-tax. The three months ended June 30, 2009 included net asbestos reserve strengthening of $90, after-tax, partially offset by a decrease in the allowance for uncollectible reinsurance of $13, after-tax. The three months ended September 30, 2009 included an environmental reserve increase of $49, after-tax.

[5]		Includes those net realized capital losses not included in core earnings (losses). See pages C-9 and C-10 for further analysis.

[6]		See page C-8 for reconciliation of net income (loss) per common share to core earnings (losses) per common share.

C-2

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
ANALYSIS OF OPERATING RESULTS BY SEGMENT
(A reconciliation of core earnings (losses) to net income (loss) for each of the segments is set forth on the respective segment pages contained in this supplement.)


																Year Over
	THREE MONTHS ENDED															Year			Sequential			NINE MONTHS ENDED
	Sept. 30,			Dec. 31,			Mar. 31,			Jun. 30,			Sept. 30,			3 Month			3 Month			SEPTEMBER 30,
	2008			2008			2009			2009			2009			Change			Change			2008			2009			Change
LIFE
Retail Products Group
Individual Annuity	$	169		$	(198	)	$	65		$	61		$	89			(47	%)		46	%	$	532		$	215			(60	%)
Other Retail		14			(2	)		1			5			11			(21	%)		120	%		41			17			(59	%)

Total Retail Products Group		183			(200	)		66			66			100			(45	%)		52	%		573			232			(60	%)
Individual Life		45			26			26			41			50			11	%		22	%		129			117			(9	%)

Total Individual Markets Group		228			(174	)		92			107			150			(34	%)		40	%		702			349			(50	%)

Group Benefits		100			90			66			41			85			(15	%)		107	%		255			192			(25	%)
Retirement Plans		12			(3	)		—			6			8			(33	%)		33	%		62			14			(77	%)

Total Employer Markets Group		112			87			66			47			93			(17	%)		98	%		317			206			(35	%)

International Markets Group		50			(110	)		(31	)		32			58			16	%		81	%		181			59			(67	%)

Institutional Solutions Group		1			(40	)		(20	)		(5	)		(6	)	NM				(20	%)		50			(31	)	NM

Other [1]		—			(24	)		5			(46	)		(27	)	NM				41	%		(16	)		(68	)	NM

Total Life core earnings (losses) excluding DAC-unlock [1][2][3]		391			(261	)		112			135			268			(31	%)		99	%		1,234			515			(58	%)
DAC Unlock		(932	)		—			(1,493	)		358			231		NM				(35	%)		(932	)		(904	)		3	%

Total Life core earnings (losses) [1][2][3]		(541	)		(261	)		(1,381	)		493			499		NM				1	%		302			(389	)	NM

PROPERTY & CASUALTY
Ongoing Operations Underwriting Results Before Catastrophes and Prior Year Development:
Personal Lines		126			130			127			100			54			(57	%)		(46	%)		369			281			(24	%)
Small Commercial		93			157			98			107			90			(3	%)		(16	%)		321			295			(8	%)
Middle Market		12			79			27			42			15			25	%		(64	%)		75			84			12	%
Specialty Commercial		4			11			(1	)		(10	)		(9	)	NM				10	%		27			(20	)	NM

Total Ongoing Operations underwriting results before catastrophes and prior year development		235			377			251			239			150			(36	%)		(37	%)		792			640			(19	%)
Catastrophes, excluding prior year development [4]		(356	)		3			(65	)		(142	)		(115	)		68	%		19	%		(577	)		(322	)		44	%
Prior year reserve development:
Catastrophe loss and loss adjustment expenses		11			6			(5	)		3			9			(18	%)	NM				23			7			(70	%)
Other loss and loss adjustment expenses		66			189			73			56			126			91	%		125	%		144			255			77	%

Total Ongoing Operations underwriting results		(44	)		575			254			156			170		NM				9	%		382			580			52	%
Net servicing income		14			10			8			7			10			(29	%)		43	%		21			25			19	%
Net investment income		285			127			185			239			254			(11	%)		6	%		929			678			(27	%)
Periodic net coupon settlements on credit derivatives, before-tax		2			(3	)		(3	)		(4	)		(3	)	NM				25	%		5			(10	)	NM
Other expenses		(58	)		(39	)		(50	)		(48	)		(47	)		19	%		2	%		(180	)		(145	)		19	%
Income tax expense		(39	)		(236	)		(97	)		(87	)		(106	)		(172	%)		(22	%)		(316	)		(290	)		8	%

Ongoing Operations core earnings		160			434			297			263			278			74	%		6	%		841			838			—

Other Operations core earnings (losses) [5]		(4	)		18			24			(51	)		(32	)	NM				37	%		24			(59	)	NM

Total Property & Casualty core earnings		156			452			321			212			246			58	%		16	%		865			779			(10	%)

CORPORATE
Total Corporate core losses [1][3]		(37	)		(399	)		(115	)		(83	)		(85	)		(130	%)		(2	%)		(101	)		(283	)		(180	%)


CONSOLIDATED
Core earnings (losses)		(422	)		(208	)		(1,175	)		622			660		NM				6	%		1,066			107			(90	%)
Add: Net realized capital losses, net of tax and DAC, excluded from core earnings (losses) [6]		(2,209	)		(598	)		(34	)		(637	)		(880	)		60	%		(38	%)		(3,009	)		(1,551	)		48	%

Net loss	$	(2,631	)	$	(806	)	$	(1,209	)	$	(15	)	$	(220	)		92	%	NM			$	(1,943	)	$	(1,444	)		26	%


[1]		Included in Life are the after-tax restructuring charges of $54 and $18 recorded in the three months ended June 30, 2009 and September 30, 2009, respectively. Also, included in Corporate is the after-tax restructuring charge of $4 recorded in the three months ended September 30, 2009.

[2]		Includes the after-tax charge of $152 recorded in the three months ended December 31, 2008 for the effect of the triggering of the guaranteed minimum income benefit for the 3Win product on amortization of deferred policy acquisition costs and policyholder benefits and additional 3Win related charges recorded in the three months ended March 31, 2009 of $40. See page L-26 for additional information on the 3Win Trigger.

[3]		As a result of goodwill testing performed during the three months ended December 31, 2008, the Company wrote off goodwill of $274 and $323, after-tax, in Life and Corporate, respectively. Goodwill testing during the three months ended March 31, 2009 resulted in a goodwill impairment of $32 in Corporate.

[4]		The three months ended September 30, 2008 included catastrophe treaty reinstatement premium, catastrophe losses, and assessments from the Texas Windstorm Insurance Association, totaling $277, primarily related to hurricane Ike.

[5]		The three months ended September 30, 2008 included an environmental reserve increase of $34, after-tax. The three months ended June 30, 2009 included an asbestos reserve increase of $90, after-tax, partially offset by a decrease in the allowance for uncollectible reinsurance of $13, after-tax. The three months ended September 30, 2009 included an environmental reserve increase of $49, after-tax.

[6]		Includes those net realized capital losses not included in core earnings (losses). See pages C-9 and C-10 for further analysis.

C-2a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
CONSOLIDATING STATEMENTS OF OPERATIONS
THREE MONTHS ENDED SEPTEMBER 30, 2008 AND 2009


	LIFE									PROPERTY & CASUALTY									CORPORATE									CONSOLIDATED
	2008			2009			Change			2008			2009			Change			2008			2009			Change			2008			2009			Change
Earned premiums	$	1,335		$	1,068			(20	%)	$	2,568		$	2,431			(5	%)	$	—		$	—			—		$	3,903		$	3,499			(10	%)
Fee income		1,329			1,136			(15	%)		—			—			—			4			4			—			1,333			1,140			(14	%)
Net investment income:
Securities available-for-sale and other		759			748			(1	%)		335			294			(12	%)		9			7			(22	%)		1,103			1,049			(5	%)
Equity securities, trading [1]		(3,415	)		638		NM				—			—			—			—			—			—			(3,415	)		638		NM

Total net investment income		(2,656	)		1,386		NM				335			294			(12	%)		9			7			(22	%)		(2,312	)		1,687		NM
Realized capital gains (losses):
Total other-than-temporary impairment (“OTTI”) losses		(1,760	)		(633	)		64	%		(1,312	)		(127	)		90	%		(5	)		—			100	%		(3,077	)		(760	)		75	%
OTTI losses recognized in other comprehensive income		—			180		NM				—			44		NM				—			—			—			—			224		NM

Net OTTI losses recognized in earnings		(1,760	)		(453	)		74	%		(1,312	)		(83	)		94	%		(5	)		—			100	%		(3,077	)		(536	)		83	%
Net realized capital losses, excluding OTTI losses recognized in earnings		(252	)		(673	)		(167	%)		(116	)		(7	)		94	%		(4	)		(3	)		25	%		(372	)		(683	)		(84	%)

Total net realized capital losses		(2,012	)		(1,126	)		44	%		(1,428	)		(90	)		94	%		(9	)		(3	)		67	%		(3,449	)		(1,219	)		65	%
Other revenues		—			—			—			132			123			(7	%)		—			—			—			132			123			(7	%)

Total revenues		(2,004	)		2,464		NM				1,607			2,758			72	%		4			8			100	%		(393	)		5,230		NM

Benefits, losses and loss adjustment expenses		2,045			1,421			(31	%)		1,949			1,649			(15	%)		—			—			—			3,994			3,070			(23	%)
Benefits, losses and loss adjustment expenses — returns credited on International variable annuities [1]		(3,415	)		638		NM				—			—			—			—			—			—			(3,415	)		638		NM
Amortization of deferred policy acquisition costs and present value of future profits		1,404			172			(88	%)		523			515			(2	%)		—			—			—			1,927			687			(64	%)
Insurance operating costs and expenses		828			760			(8	%)		201			185			(8	%)		—			—			—			1,029			945			(8	%)
Interest expense		—			—			—			—			—			—			84			118			40	%		84			118			40	%
Other expenses [2]		10			47		NM				175			159			(9	%)		(14	)		23		NM				171			229			34	%

Total benefits and expenses		872			3,038		NM				2,848			2,508			(12	%)		70			141			101	%		3,790			5,687			50	%

Income (loss) before income taxes		(2,876	)		(574	)		80	%		(1,241	)		250		NM				(66	)		(133	)		(102	%)		(4,183	)		(457	)		89	%

Income tax expense (benefit)		(1,061	)		(251	)		76	%		(467	)		60		NM				(24	)		(46	)		(92	%)		(1,552	)		(237	)		85	%


Net income (loss)		(1,815	)		(323	)		82	%		(774	)		190		NM				(42	)		(87	)		(107	%)		(2,631	)		(220	)		92	%

Less: Net realized capital losses, net of tax and DAC, excluded from core earnings (losses)		(1,274	)		(822	)		35	%		(930	)		(56	)		94	%		(5	)		(2	)		60	%		(2,209	)		(880	)		60	%


Core earnings (losses)	$	(541	)	$	499		NM			$	156		$	246			58	%	$	(37	)	$	(85	)		(130	%)	$	(422	)	$	660		NM


[1]		Includes investment income and mark-to-market effects of equity securities, trading, supporting the International variable annuity business, which are classified in net investment income with corresponding amounts credited to policyholders within benefits, losses and loss adjustment expenses.

[2]		The three months ended September 30, 2008 included $(1), $10, and $(9) in Life, Property & Casualty and Corporate, respectively, of interest charged by Corporate on the amount of capital held by the Life and Property & Casualty operations in excess of the amount needed to support the capital requirements of the Life and Property & Casualty operations.

C-3

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
CONSOLIDATING STATEMENTS OF OPERATIONS
NINE MONTHS ENDED SEPTEMBER 30, 2008 AND 2009


	LIFE									PROPERTY & CASUALTY									CORPORATE									CONSOLIDATED
	2008			2009			Change			2008			2009			Change			2008			2009			Change			2008			2009			Change
Earned premiums	$	3,869		$	3,500			(10	%)	$	7,768		$	7,420			(4	%)	$	—		$	—			—		$	11,637		$	10,920			(6	%)
Fee income		4,042			3,359			(17	%)		—			—			—			14			10			(29	%)		4,056			3,369			(17	%)
Net investment income (loss):
Securities available-for-sale and other		2,407			2,176			(10	%)		1,091			799			(27	%)		28			15			(46	%)		3,526			2,990			(15	%)
Equity securities, trading [1]		(5,840	)		2,437		NM				—			—			—			—			—			—			(5,840	)		2,437		NM

Total net investment income (loss)		(3,433	)		4,613		NM				1,091			799			(27	%)		28			15			(46	%)		(2,314	)		5,427		NM
Realized capital gains (losses):
Total other-than-temporary impairment (“OTTI”) losses		(2,115	)		(1,267	)		40	%		(1,425	)		(276	)		81	%		(5	)		(3	)		40	%		(3,545	)		(1,546	)		56	%
OTTI losses recognized in other comprehensive income		—			363		NM				—			109		NM				—			—			—			—			472		NM

Net OTTI losses recognized in earnings		(2,115	)		(904	)		57	%		(1,425	)		(167	)		88	%		(5	)		(3	)		40	%		(3,545	)		(1,074	)		70	%
Net realized capital gains (losses), excluding OTTI losses recognized in earnings		(1,345	)		(186	)		86	%		(206	)		(324	)		(57	%)		(6	)		(232	)	NM				(1,557	)		(742	)		52	%

Total net realized capital gains (losses)		(3,460	)		(1,090	)		68	%		(1,631	)		(491	)		70	%		(11	)		(235	)	NM				(5,102	)		(1,816	)		64	%
Other revenues		—			—			—			377			361			(4	%)		—			—			—			377			361			(4	%)

Total revenues		1,018			10,382		NM				7,605			8,089			6	%		31			(210	)	NM				8,654			18,261			111	%

Benefits, losses and loss adjustment expenses		5,523			5,834			6	%		5,414			4,965			(8	%)		—			—			—			10,937			10,799			(1	%)
Benefits, losses and loss adjustment expenses — returns credited on International variable annuities [1]		(5,840	)		2,437		NM				—			—			—			—			—			—			(5,840	)		2,437		NM
Amortization of deferred policy acquisition costs and present value of future profits		1,634			2,064			26	%		1,567			1,556			(1	%)		—			—			—			3,201			3,620			13	%
Insurance operating costs and expenses		2,483			2,266			(9	%)		543			536			(1	%)		—			—			—			3,026			2,802			(7	%)
Interest expense		2			—			(100	%)		—			—			—			226			357			58	%		228			357			57	%
Goodwill impairment		—			—			—			—			—			—			—			32		NM				—			32		NM
Other expenses [2]		33			137		NM				537			481			(10	%)		(28	)		52		NM				542			670			24	%

Total benefits and expenses		3,835			12,738		NM				8,061			7,538			(6	%)		198			441			123	%		12,094			20,717			71	%

Income (loss) before income taxes		(2,817	)		(2,356	)		16	%		(456	)		551		NM				(167	)		(651	)	NM				(3,440	)		(2,456	)		29	%

Income tax expense (benefit)		(1,181	)		(951	)		19	%		(257	)		76		NM				(59	)		(137	)		(132	%)		(1,497	)		(1,012	)		32	%


Net income (loss)		(1,636	)		(1,405	)		14	%		(199	)		475		NM				(108	)		(514	)	NM				(1,943	)		(1,444	)		26	%

Less: Net realized capital losses, net of tax and DAC, excluded from core earnings (losses)		(1,938	)		(1,016	)		48	%		(1,064	)		(304	)		71	%		(7	)		(231	)	NM				(3,009	)		(1,551	)		48	%


Core earnings (losses)	$	302		$	(389	)	NM			$	865		$	779			(10	%)	$	(101	)	$	(283	)		(180	%)	$	1,066		$	107			(90	%)


[1]		Includes investment income and mark-to-market effects of equity securities, trading, supporting the International variable annuity business, which are classified in net investment income with corresponding amounts credited to policyholders within benefits, losses and loss adjustment expenses.

[2]		The nine months ended September 30, 2008 included $12, $31, and $(43) in Life, Property & Casualty and Corporate, respectively, of interest charged by Corporate on the amount of capital held by the Life and Property & Casualty operations in excess of the amount needed to support the capital requirements of the Life and Property & Casualty operations.

C-4

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
CONSOLIDATING BALANCE SHEETS
AS OF DECEMBER 31, 2008 AND SEPTEMBER 30, 2009


	LIFE									PROPERTY & CASUALTY									CORPORATE									CONSOLIDATED
	Dec. 31,			Sept. 30,						Dec. 31,			Sept. 30,						Dec. 31,			Sept. 30,						Dec. 31,			Sept. 30,
	2008			2009			Change			2008			2009			Change			2008			2009			Change			2008			2009			Change
Investments
Fixed maturities, available-for-sale, at fair value	$	45,182		$	45,927			2	%	$	19,775		$	22,577			14	%	$	155		$	137			(12	%)	$	65,112		$	68,641			5	%
Equity securities, trading, at fair value		30,820			33,463			9	%		—			—			—			—			—			—			30,820			33,463			9	%
Equity securities, available-for-sale, at fair value		711			690			(3	%)		674			620			(8	%)		73			87			19	%		1,458			1,397			(4	%)
Mortgage loans		5,684			5,365			(6	%)		785			690			(12	%)		—			273		NM				6,469			6,328			(2	%)
Policy loans, at outstanding balance		2,208			2,209			—			—			—			—			—			—			—			2,208			2,209			—
Limited partnerships and other alternative investments		1,129			860			(24	%)		1,166			952			(18	%)		—			—			—			2,295			1,812			(21	%)
Other investments		1,473			1,513			3	%		207			113			(45	%)		43			53			23	%		1,723			1,679			(3	%)
Short-term investments		6,937			7,478			8	%		1,597			1,902			19	%		1,488			4,530		NM				10,022			13,910			39	%

Total investments		94,144			97,505			4	%		24,204			26,854			11	%		1,759			5,080			189	%		120,107			129,439			8	%
Cash		1,648			2,134			29	%		162			279			72	%		1			4		NM				1,811			2,417			33	%
Premiums receivable and agents’ balances		407			365			(10	%)		3,197			3,117			(3	%)		—			—			—			3,604			3,482			(3	%)
Reinsurance recoverables		2,918			2,355			(19	%)		3,439			3,249			(6	%)		—			—			—			6,357			5,604			(12	%)
Deferred policy acquisition costs and present value of future profits		11,988			9,785			(18	%)		1,260			1,255			—			—			—			—			13,248			11,040			(17	%)
Deferred income taxes		2,183			1,637			(25	%)		2,435			1,517			(38	%)		621			666			7	%		5,239			3,820			(27	%)
Goodwill		462			470			2	%		149			149			—			449			585			30	%		1,060			1,204			14	%
Property and equipment, net		400			343			(14	%)		675			670			(1	%)		—			19		NM				1,075			1,032			(4	%)
Other assets		3,557			1,364			(62	%)		1,159			1,228			6	%		182			132			(27	%)		4,898			2,724			(44	%)
Separate account assets		130,184			155,958			20	%		—			—			—			—			—			—			130,184			155,958			20	%


Total assets	$	247,891		$	271,916			10	%	$	36,680		$	38,318			4	%	$	3,012		$	6,486			115	%	$	287,583		$	316,720			10	%


Future policy benefits, unpaid losses and loss adjustment expenses	$	16,747		$	17,950			7	%	$	21,933		$	21,901			—		$	—		$	—			—		$	38,680		$	39,851			3	%
Other policyholder funds and benefits payable		53,753			47,996			(11	%)		—			—			—			—			—			—			53,753			47,996			(11	%)
Other policyholder funds and benefits payable - International variable annuities		30,799			33,439			9	%		—			—			—			—			—			—			30,799			33,439			9	%
Unearned premiums		138			168			22	%		5,244			5,159			(2	%)		(3	)		(3	)		—			5,379			5,324			(1	%)
Debt		92			67			(27	%)		—			—			—			6,129			5,768			(6	%)		6,221			5,835			(6	%)
Consumer notes		1,210			1,193			(1	%)		—			—			—			—			—			—			1,210			1,193			(1	%)
Other liabilities		7,297			5,224			(28	%)		2,914			2,134			(27	%)		1,786			2,285			28	%		11,997			9,643			(20	%)
Separate account liabilities		130,184			155,958			20	%		—			—			—			—			—			—			130,184			155,958			20	%


Total liabilities		240,220			261,995			9	%		30,091			29,194			(3	%)		7,912			8,050			2	%		278,223			299,239			8	%


Common equity excluding AOCI		12,095			11,809			(2	%)		8,675			9,553			10	%		(3,982	)		(3,629	)		9	%		16,788			17,733			6	%
Preferred stock		—			—			—			—			—			—			—			2,940		NM				—			2,940		NM
AOCI, net of tax		(4,516	)		(1,913	)		58	%		(2,086	)		(429	)		79	%		(918	)		(875	)		5	%		(7,520	)		(3,217	)		57	%

Total stockholders’ equity		7,579			9,896			31	%		6,589			9,124			38	%		(4,900	)		(1,564	)		68	%		9,268			17,456			88	%
Noncontrolling Interest		92			25			(73	%)		—			—			—			—			—			—			92			25			(73	%)

Total equity		7,671			9,921			29	%		6,589			9,124			38	%		(4,900	)		(1,564	)		68	%		9,360			17,481			87	%


Total liabilities and equity	$	247,891		$	271,916			10	%	$	36,680		$	38,318			4	%	$	3,012		$	6,486			115	%	$	287,583		$	316,720			10	%

C-5

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
CAPITAL STRUCTURE


																Year Over
																Year			Sequential
	Sept. 30,			Dec. 31,			Mar. 31,			Jun. 30,			Sept. 30,			3 Month			3 Month
	2008			2008			2009			2009			2009			Change			Change
DEBT
Short-term debt (includes current maturities of long-term debt and capital lease obligations)	$	927		$	398		$	419		$	342		$	342			(63	%)		—
Capital lease obligations		68			68			—			—			—			(100	%)		—
Senior notes		4,052			4,052			4,052			3,778			3,778			(7	%)		—
Junior subordinated debentures		500			1,703			1,705			1,712			1,715		NM				—

Total debt [1]	$	5,547		$	6,221		$	6,176		$	5,832		$	5,835			5	%		—


STOCKHOLDERS’ EQUITY
Common stockholders’ equity excluding AOCI, net of tax	$	16,712		$	16,788		$	15,661		$	17,131		$	17,733			6	%		4	%
Preferred stock		—			—			—			2,921			2,940		NM				1	%
AOCI, net of tax		(4,155	)		(7,520	)		(7,801	)		(6,610	)		(3,217	)		23	%		51	%


Total stockholders’ equity	$	12,557		$	9,268		$	7,860		$	13,442		$	17,456			39	%		30	%


CAPITALIZATION
Total capitalization including AOCI, net of tax	$	18,104		$	15,489		$	14,036		$	19,274		$	23,291			29	%		21	%

Total capitalization excluding AOCI, net of tax	$	22,259		$	23,009		$	21,837		$	25,884		$	26,508			19	%		2	%


DEBT TO CAPITALIZATION RATIOS [1]
Ratio Including AOCI
Total debt to capitalization		30.6	%		40.2	%		44.0	%		30.3	%		25.1	%		(5.5	)		(5.2	)

Ratios Excluding AOCI
Total debt to capitalization		24.9	%		27.0	%		28.3	%		22.5	%		22.0	%		(2.9	)		(0.5	)

Total adjusted debt to capitalization [2] [3] [4] [5] [6]		27.0	%		27.7	%		28.8	%		32.7	%		31.9	%		4.9			(0.8	)


[1]		The Hartford excludes consumer notes from total debt for capital structure analysis. Consumer notes were $1,225, $1,210, $1,202, $1,199, and $1,193 as of September 30, 2008, December 31, 2008, March 31, 2009, June 30, 2009, and September 30, 2009, respectively.

[2]		Reflects a rating agency assignment in the leverage calculation of an estimate of the adjusted unfunded pension liability of the Company’s defined benefit plans and six times the Company’s rental expense on operating leases for total adjustments of $1.0 billion, $1.5 billion, $1.4 billion, $1.4 billion, and $1.4 billion for the three months ended September 30, 2008, December 31, 2008, March 31, 2009, June 30, 2009, and September 30, 2009, respectively.

[3]		Reflects the assignment by certain rating agencies in the leverage calculation of 75% equity credit for the junior subordinated debentures.

[4]		Reflects the assignment by certain rating agencies in the leverage calculation of 75% equity credit for the discount value of the Allianz transaction.

[5]		Reflects the assignment by certain rating agencies in the leverage calculation of 25% equity credit related to the preferred stock of the CPP transaction.

[6]		Reflects a rating agency assignment to adjust equity for pension related amounts that are included in AOCI.

C-6

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
ACCUMULATED OTHER COMPREHENSIVE LOSS


				PROPERTY &
	LIFE			CASUALTY			CORPORATE			CONSOLIDATED

As of September 30, 2009

Fixed maturities net unrealized loss [1]	$	(2,354	)	$	(469	)	$	—		$	(2,823	)
Equities net unrealized gain (loss)		(66	)		57			6			(3	)
Other-than-temporary impairment losses recognized in AOCI		(124	)		(52	)		—			(176	)
Net deferred gain on cash-flow hedging instruments		352			22			1			375

Total net unrealized gain (loss) [1]		(2,192	)		(442	)		7			(2,627	)
Foreign currency translation adjustments		279			—			—			279
Pension and other postretirement adjustment		—			13			(882	)		(869	)

Total accumulated other comprehensive loss	$	(1,913	)	$	(429	)	$	(875	)	$	(3,217	)


As of December 31, 2008
Fixed maturities net unrealized loss	$	(5,196	)	$	(2,221	)	$	(2	)	$	(7,419	)
Equities net unrealized gain (loss)		(148	)		85			(4	)		(67	)
Net deferred gain on cash-flow hedging instruments		611			31			2			644

Total net unrealized loss		(4,733	)		(2,105	)		(4	)		(6,842	)
Foreign currency translation adjustments		217			5			—			222
Pension and other postretirement adjustment		—			14			(914	)		(900	)

Total accumulated other comprehensive loss	$	(4,516	)	$	(2,086	)	$	(918	)	$	(7,520	)


[1]		Includes FSP FAS 115-2 impact of $(579), $(333), and $(912) in Life, P&C, and Consolidated, respectively.

C-7

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
COMPUTATION OF BASIC AND DILUTED EARNINGS (LOSSES) PER COMMON SHARE


	THREE MONTHS ENDED															NINE MONTHS ENDED
	Sept. 30,			Dec. 31,			Mar. 31,			Jun. 30,			Sept. 30,			SEPTEMBER 30,
	2008			2008			2009			2009			2009			2008			2009
Numerator:
Net loss	$	(2,631	)	$	(806	)	$	(1,209	)	$	(15	)	$	(220	)	$	(1,943	)	$	(1,444	)
Less: preferred dividends and accretion of discount		—			8			—			3			62			—			65

Net loss available to common shareholders		(2,631	)		(814	)		(1,209	)		(18	)		(282	)		(1,943	)		(1,509	)
Less: Net realized capital losses, net of tax and DAC, excluded from core earnings (losses)		(2,209	)		(598	)		(34	)		(637	)		(880	)		(3,009	)		(1,551	)
Core earnings (losses) available to common shareholders		(422	)		(216	)		(1,175	)		619			598			1,066			42

Denominator:
Weighted average common shares outstanding (basic)		301.1			300.2			320.8			325.4			356.1			308.8			334.1
Add: Weighted average common shares assuming conversion of outstanding preferred shares to common		—			20.1			—			—			—			—			—

Weighted average common assuming conversion of outstanding preferred shares to common (Core basic)		301.1			320.3			320.8			325.4			356.1			308.8			334.1
Dilutive effect of stock compensation		1.0			0.6			0.7			0.7			1.1			1.5			0.8
Dilutive effect of CPP Warrants [1]		—			—			—			0.5			25.3			—			8.7
Dilutive effect of Allianz warrants [2]		—			—			—			—			—			—			—

Weighted average common shares outstanding and dilutive potential common shares (diluted)		302.1			320.9			321.5			326.6			382.5			310.3			343.6

Basic earnings (losses) per common share
Net loss available to common shareholders	$	(8.74	)	$	(2.71	)	$	(3.77	)	$	(0.06	)	$	(0.79	)	$	(6.29	)	$	(4.52	)
Less: Net realized capital losses, net of tax and DAC, excluded from core earnings (losses)		(7.34	)		(1.99	)		(0.11	)		(1.96	)		(2.47	)		(9.74	)		(4.65	)

Core earnings (losses) available to common shareholders [3]		(1.40	)		(0.72	)		(3.66	)		1.90			1.68			3.45			0.13

Diluted earnings (losses) per common share [4]
Net loss available to common shareholders	$	(8.74	)	$	(2.71	)	$	(3.77	)	$	(0.06	)	$	(0.79	)	$	(6.29	)	$	(4.52	)
Less: Net realized capital losses, net of tax and DAC, excluded from core earnings (losses)		(7.34	)		(1.99	)		(0.11	)		(1.96	)		(2.35	)		(9.73	)		(4.64	)

Core earnings (losses) available to common shareholders		(1.40	)		(0.72	)		(3.66	)		1.90			1.56			3.44			0.12


[1]		The Hartford issued 52.1 million warrants to purchase The Hartford Common Stock to the U.S. Department of the Treasury on June 26, 2009 at a strike price of $9.79.

[2]		The Hartford issued 69.3 million warrants to purchase The Hartford Common Stock to Allianz on October 17, 2008 at a strike price of $25.25. There is no dilutive effect as the warrants were not in-the-money for the periods presented.

[3]		Due to the core loss for the quarter ended December 31, 2008, weighted average common shares outstanding of 300.2 are used in the calculation of Core-Basic loss per share, since the preferred shareholders do not have a contractual obligation to fund the net losses of the Company.

[4]		As a result of anti-dilutive impact, in periods of a loss, weighted average common shares outstanding are used in the calculation of diluted earnings per share.

C-8

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
ANALYSIS OF NET REALIZED CAPITAL GAINS (LOSSES) AFTER-TAX AND DAC
THREE MONTHS ENDED SEPTEMBER 30, 2008 AND 2009


	LIFE									PROPERTY & CASUALTY									CORPORATE									CONSOLIDATED
	2008			2009			Change			2008			2009			Change			2008			2009			Change			2008			2009			Change
Net Realized Capital Gains (Losses), After-Tax and DAC
Gains/losses on sales, net	$	(33	)	$	35		NM			$	(46	)	$	25		NM			$	(1	)	$	(1	)		—		$	(80	)	$	59		NM
Net impairment losses		(1,135	)		(282	)		75	%		(853	)		(54	)		94	%		(3	)		—			100	%		(1,991	)		(336	)		83	%
Japanese fixed annuity contract hedges, net [1]		23			(5	)	NM				—			—			—			—			—			—			23			(5	)	NM
Results of variable annuity hedge program
GMWB derivatives, net [2]		(57	)		(132	)		(132	%)		—			—			—			—			—			—			(57	)		(132	)		(132	%)
Macro hedge program		19			(303	)	NM				—			—			—			—			—			—			19			(303	)	NM

Total results of variable annuity hedge program		(38	)		(435	)	NM				—			—			—			—			—			—			(38	)		(435	)	NM
Other net gain (loss) [3]		(94	)		(138	)		(47	%)		(30	)		(29	)		3	%		(1	)		(1	)		—			(125	)		(168	)		(34	%)


Total net realized capital gains (losses), after-tax and DAC	$	(1,277	)	$	(825	)		35	%	$	(929	)	$	(58	)		94	%	$	(5	)	$	(2	)		60	%	$	(2,211	)	$	(885	)		60	%


Reconciliation of Net Realized Capital Gains (Losses), net of tax and DAC, excluded from Core Earnings (Losses) to Total Net Realized Capital Gains (Losses) — After-Tax and DAC
Total net realized capital losses	$	(1,277	)	$	(825	)		35	%	$	(929	)	$	(58	)		94	%	$	(5	)	$	(2	)		60	%	$	(2,211	)	$	(885	)		60	%
Less: total net realized capital gains (losses) included in core earnings (losses)		(3	)		(3	)		—			1			(2	)	NM				—			—			—			(2	)		(5	)		(150	%)

Total net realized capital losses, after tax and DAC, excluded from core earnings (losses)	$	(1,274	)	$	(822	)		35	%	$	(930	)	$	(56	)		94	%	$	(5	)	$	(2	)		60	%	$	(2,209	)	$	(880	)		60	%


[1]		Represents realized gains and losses related to currency remeasurement on yen denominated fixed annuity liabilities and changes in fair value of the associated foreign currency swaps. While economically hedged, volatility exists due to a difference in the basis of accounting between the yen liabilities (historical cost) and the currency swaps (fair value). The primary difference relates to changes in Japan interest rates which are included in the fair value of the currency swaps but not the yen liabilities. If the economic impact of the change in Japan interest rates was permitted to be reflected in the value of the yen denominated fixed annuity liabilities, an estimated realized loss of $16 and $2 would have been recognized as an adjustment to this amount in the three months ended September 30, 2008 and 2009, respectively.

[2]		Represents the net activity associated with the guaranteed minimum withdrawal benefit (“GMWB”) feature in certain of the Company’s life products. The net activity includes the fair value of the embedded derivatives associated with these products, related reinsurance and the fair value of the derivatives used to hedge this exposure.

[3]		Other net gain (loss) also includes changes in fair value on non-qualifying derivatives, hedge ineffectiveness on qualifying derivatives, foreign currency gains and losses related to the internal reinsurance of the Japan variable annuity business, which is offset in AOCI, valuation allowances and other investment gains and losses recorded in Life, P&C, and Corporate for the three months ended September 30, 2009.

C-9

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
ANALYSIS OF NET REALIZED CAPITAL GAINS (LOSSES) AFTER-TAX AND DAC
NINE MONTHS ENDED SEPTEMBER 30, 2008 AND 2009


	LIFE									PROPERTY & CASUALTY									CORPORATE									CONSOLIDATED
	2008			2009			Change			2008			2009			Change			2008			2009			Change			2008			2009			Change
Net Realized Capital Gains (Losses), After-Tax and DAC
Gains/losses on sales, net	$	(73	)	$	(172	)		(136	%)	$	(66	)	$	(122	)		(85	%)	$	(2	)	$	(1	)		50	%	$	(141	)	$	(295	)		(109	%)
Net impairment losses		(1,341	)		(573	)		57	%		(926	)		(109	)		88	%		(3	)		(2	)		33	%		(2,270	)		(684	)		70	%
Japanese fixed annuity contract hedges, net [1]		8			18			125	%		—			—			—			—			—			—			8			18			125	%
SFAS 157 transition impact [2]		(220	)		—			100	%		—			—			—			—			—			—			(220	)		—			100	%
Results of variable annuity hedge programs
GMWB derivatives, net [3]		(104	)		425		NM				—			—			—			—			—			—			(104	)		425		NM
Macro hedge program		19			(531	)	NM				—			—			—			—			—			—			19			(531	)	NM

Total results of variable annuity hedge programs		(85	)		(106	)		(25	%)		—			—			—			—			—			—			(85	)		(106	)		(25	%)
Other net gain (loss) [4]		(236	)		(206	)		13	%		(69	)		(79	)		(14	%)		(2	)		(228	)	NM				(307	)		(513	)		(67	%)


Total net realized capital losses, after-tax and DAC	$	(1,947	)	$	(1,039	)		47	%	$	(1,061	)	$	(310	)		71	%	$	(7	)	$	(231	)	NM			$	(3,015	)	$	(1,580	)		48	%


Reconciliation of Net Realized Capital Gains (Losses), net of tax and DAC, excluded from Core Earnings (Losses) to Total Net Realized Capital Gains (Losses) — After-Tax and DAC
Total net realized capital gains (losses)	$	(1,947	)	$	(1,039	)		47	%	$	(1,061	)	$	(310	)		71	%	$	(7	)	$	(231	)	NM			$	(3,015	)	$	(1,580	)		48	%
Less: total net realized capital losses included in core earnings (losses)		(9	)		(23	)		(156	%)		3			(6	)	NM				—			—			—			(6	)		(29	)	NM

Total net realized capital gains (losses), after-tax and DAC, excluded from core earnings (losses)	$	(1,938	)	$	(1,016	)		48	%	$	(1,064	)	$	(304	)		71	%	$	(7	)	$	(231	)	NM			$	(3,009	)	$	(1,551	)		48	%


[1]		Represents realized gains and losses related to currency remeasurement on yen denominated fixed annuity liabilities and changes in fair value of the associated foreign currency swaps. While economically hedged, volatility exists due to a difference in the basis of accounting between the yen liabilities (historical cost) and the currency swaps (fair value). The primary difference relates to changes in Japan interest rates which are included in the fair value of the currency swaps but not the yen liabilities. If the economic impact of the change in Japan interest rates was permitted to be reflected in the value of the yen denominated fixed annuity liabilities, an estimated realized gain of $9 and loss of $1 would have been recognized as an adjustment to this amount in the nine months ended September 30, 2008 and 2009, respectively.

[2]		Includes SFAS 157 implementation losses related to the embedded derivatives within GMWB-US, GMWB-UK and GMAB liabilities, respectively.

[3]		Represents the net activity associated with the guaranteed minimum withdrawal benefit (“GMWB”) feature in certain of the Company’s life products. The net activity includes the fair value of the embedded derivatives associated with these products, related reinsurance and the fair value of the derivatives used to hedge this exposure.

[4]		Other net gain (loss) includes approximately $300 in losses related to a contingent obligation associated with the Allianz transaction, recorded in Corporate for the three months ended June 30, 2009. Other net gain (loss) also includes changes in fair value on non-qualifying derivatives, hedge ineffectiveness on qualifying derivatives, foreign currency gains and losses related to the internal reinsurance of the Japan variable annuity business, which is offset in AOCI, changes in fair value on warrants associated with the Allianz transaction, valuation allowances loans and other investment gains and losses recorded in Life, P&C, and Corporate for the nine months ended September 30, 2009.

C-10

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
COMPUTATION OF RETURN-ON-EQUITY MEASURES


	Sept. 30,			Dec. 31,			Mar. 31,			Jun. 30,			Sept. 30,
	2008			2008			2009			2009			2009

Numerator [1]:
Net loss available to common shareholders — last 12 months	$	(1,348	)	$	(2,749	)	$	(4,103	)	$	(4,672	)	$	(2,323	)
Core earnings (losses) available to common shareholders — last 12 months	$	1,906		$	858		$	(1,109	)	$	(1,194	)	$	(174	)

Denominator [2]:
Average common stockholders’ equity, including AOCI		15,753.5			14,236.0			12,848.0			13,672.5			13,536.5
Less: Average AOCI		(2,410.5	)		(4,189.0	)		(5,013.0	)		(4,695.0	)		(3,686.0	)

Average common stockholders’ equity, excluding AOCI		18,164.0			18,425.0			17,861.0			18,367.5			17,222.5

ROE (net loss last 12 months to common stockholders’ equity including AOCI)		(8.6	%)		(19.3	%)		(31.9	%)		(34.2	%)		(17.2	%)
ROE (core earnings (losses) last 12 months to common stockholders’ equity excluding AOCI)		10.5	%		4.7	%		(6.2	%)		(6.5	%)		(1.0	%)


[1]		For a reconciliation of net income to core earnings, see page C-8.

[2]		Average equity is calculated by taking the sum of common stockholders’ equity at the beginning of the twelve month period and common stockholders’ equity at the end of the twelve month period and dividing by 2.

C-11

LIFE

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
FINANCIAL HIGHLIGHTS


																Year Over
	THREE MONTHS ENDED															Year			Sequential			NINE MONTHS ENDED
	Sept. 30,			Dec. 31,			March 31,			June 30,			Sept. 30,			3 Month			3 Month			SEPTEMBER 30,
	2008			2008			2009			2009			2009			Change			Change			2008			2009			Change
REVENUES
Retail Products Group
Individual Annuity [1]	$	714		$	548		$	581		$	496		$	561			(21	%)		13	%	$	2,157		$	1,638			(24	%)
Other Retail		205			154			138			156			170			(17	%)		9	%		640			464			(28	%)

Total Retail Products Group		919			702			719			652			731			(20	%)		12	%		2,797			2,102			(25	%)
Individual Life [1]		288			275			352			303			309			7	%		2	%		889			964			8	%

Total Individual Markets Group		1,207			977			1,071			955			1,040			(14	%)		9	%		3,686			3,066			(17	%)
Group Benefits		1,219			1,197			1,228			1,176			1,173			(4	%)		—			3,612			3,577			(1	%)
Retirement Plans		182			149			148			158			163			(10	%)		3	%		527			469			(11	%)

Total Employer Markets Group		1,401			1,346			1,376			1,334			1,336			(5	%)		—			4,139			4,046			(2	%)
International Markets Group [1]		249			267			219			249			269			8	%		8	%		771			737			(4	%)
Institutional Solutions Group		522			441			440			330			274			(48	%)		(17	%)		1,604			1,044			(35	%)
Other		39			(24	)		37			35			32			(18	%)		(9	%)		117			104			(11	%)

Core revenues before net investment income (loss) on equity securities held for trading		3,418			3,007			3,143			2,903			2,951			(14	%)		2	%		10,317			8,997			(13	%)

Net investment income (loss) on equity securities held for trading [2]		(3,415	)		(4,500	)		(724	)		2,523			638		NM				(75	%)		(5,840	)		2,437		NM

Total core revenues	$	3		$	(1,493	)	$	2,419		$	5,426		$	3,589		NM				(34	%)	$	4,477		$	11,434			155	%
Net realized gains (losses), before tax and DAC, excluded from core revenues[1]		(2,007	)		(675	)		393			(320	)		(1,125	)		44	%	NM				(3,459	)		(1,052	)		70	%

Total revenues	$	(2,004	)	$	(2,168	)	$	2,812		$	5,106		$	2,464		NM				(52	%)	$	1,018		$	10,382		NM

CORE EARNINGS BY SEGMENT
Retail Products Group
Individual Annuity [3] [4]	$	(552	)	$	(198	)	$	(924	)	$	307		$	313		NM				2	%	$	(189	)	$	(304	)		(61	%)
Other Retail [3]		13			(2	)		1			5			11			(15	%)		120	%		40			17			(58	%)

Total Retail Products Group		(539	)		(200	)		(923	)		312			324		NM				4	%		(149	)		(287	)		(93	%)
Individual Life [3]		8			26			—			43			28		NM				(35	%)		92			71			(23	%)

Total Individual Markets Group		(531	)		(174	)		(923	)		355			352		NM				(1	%)		(57	)		(216	)	NM
Group Benefits		100			90			66			41			85			(15	%)		107	%		255			192			(25	%)
Retirement Plans [3]		(36	)		(3	)		(54	)		6			15		NM				150	%		14			(33	)	NM

Total Employer Markets Group		64			87			12			47			100			56	%		113	%		269			159			(41	%)

International Markets Group [3] [5] [6]		(75	)		(110	)		(455	)		142			81		NM				(43	%)		56			(232	)	NM

Institutional Solutions Group [3]		1			(40	)		(20	)		(5	)		(7	)	NM				(40	%)		50			(32	)	NM

Other [7]		—			(24	)		5			(46	)		(27	)		—			41	%		(16	)		(68	)	NM


Core earnings		(541	)		(261	)		(1,381	)		493			499		NM				1	%		302			(389	)	NM

Net realized gains (losses), net of tax and DAC, excluded from core earnings [3]		(1,274	)		(546	)		123			(317	)		(822	)		35	%		(159	%)		(1,938	)		(1,016	)		48	%


Net income (loss)	$	(1,815	)	$	(807	)	$	(1,258	)	$	176		$	(323	)		82	%	NM			$	(1,636	)	$	(1,405	)		14	%

Stockholders’ ROE (core earnings last 12 months to equity excluding AOCI) [8]		7.5	%		(0.6	%)		(21.2	%)		(19.0	%)		(8.6	%)		(16.1	)		10.4
Assets under management	$	333,305		$	298,017		$	283,442		$	301,672		$	334,267			—			11	%
DAC capitalization	$	397		$	310		$	222		$	196		$	186						(5	%)
DAC amortization	$	1,404		$	542		$	1,736		$	156		$	172						10	%
DAC and PVFP assets	$	11,012		$	11,988		$	10,828		$	10,529		$	9,785						(7	%)
United States Statutory surplus ($ in billions) [9]	$	4.7		$	6.0		$	5.6		$	6.1		$	6.0


[1]		See table on page L-5 that summarizes the DAC unlock impacts on core revenues and total revenues for the three months ended September 30, 2008, March 31, 2009, June 30, 2009, and September 30, 2009.

[2]		These revenues will fluctuate principally due to the investment income and the mark-to-market adjustment of the trading investment portfolio supporting the variable annuity business in International, principally in Japan. An equal and offsetting amount is recorded in benefits, losses and loss adjustment expenses, and as such has no impact on core earnings or net income.

[3]		See table on page L-5 that summarizes the DAC unlock impacts on core earnings and net income for the three months ended September 30, 2008, March 31, 2009, June 30, 2009, and September 30, 2009.

[4]		As a result of the goodwill testing performed during the three months ended, December 31, 2008, Individual Annuity wrote-off goodwill of $274, after-tax.

[5]		Includes the after-tax charge of $152 recorded in the three months ended December 31, 2008 for the effect of the triggering of the guaranteed minimum income benefit for the 3 Win product on amortization of deferred policy acquisition costs and policyholder benefits.

[6]		Included an additional 3 Win related charges recorded in the three months ended March 31, 2009 of $40. See Note 2 on page L-26 for additional information on the 3 Win Trigger.

[7]		Includes the after-tax charge of $54 and $18 recorded in the three months ended June 30, 2009 and September 30, 2009, respectively, for restructuring.

[8]		Core earnings return on equity is calculated using equity attributed to Life using the Company’s capital attribution methodology.

[9]		Estimated United States statutory surplus at September 30, 2009.

L-1

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
FINANCIAL HIGHLIGHTS EXCLUDING IMPACTS OF DAC UNLOCKS [1]


																Year Over
	THREE MONTHS ENDED															Year			Sequential			NINE MONTHS ENDED
	Sept. 30,			Dec. 31,			March 31,			June 30,			Sept. 30,			3 Month			3 Month			SEPTEMBER 30,
	2008			2008			2009			2009			2009			Change			Change			2008			2009			Change
REVENUES
Retail Products Group
Individual Annuity	$	685		$	548		$	509		$	532		$	576			(16	%)		8	%	$	2,128		$	1,617			(24	%)
Other Retail		205			154			138			156			170			(17	%)		9	%		640			464			(28	%)

Total Retail Products Group		890			702			647			688			746			(16	%)		8	%		2,768			2,081			(25	%)
Individual Life		314			275			289			305			301			(4	%)		(1	%)		915			895			(2	%)

Total Individual Markets Group		1,204			977			936			993			1,047			(13	%)		5	%		3,683			2,976			(19	%)

Group Benefits		1,219			1,197			1,228			1,176			1,173			(4	%)		—			3,612			3,577			(1	%)
Retirement Plans		182			149			148			158			163			(10	%)		3	%		527			469			(11	%)

Total Employer Markets Group		1,401			1,346			1,376			1,334			1,336			(5	%)		—			4,139			4,046			(2	%)

International Markets Group		256			267			220			243			270			5	%		11	%		778			733			(6	%)

Institutional Solutions Group		522			441			440			330			274			(48	%)		(17	%)		1,604			1,044			(35	%)

Other		39			(24	)		37			35			32			(18	%)		(9	%)		117			104			(11	%)

Core revenues before net investment income (loss) on equity securities held for trading		3,422			3,007			3,009			2,935			2,959			(14	%)		1	%		10,321			8,903			(14	%)

Net investment income (loss) and other on equity securities held for trading		(3,415	)		(4,500	)		(724	)		2,523			638		NM				(75	%)		(5,840	)		2,437		NM

Total core revenues, excluding impacts of DAC unlock	$	7		$	(1,493	)	$	2,285		$	5,458			3,597		NM				(34	%)	$	4,481			11,340			153	%
DAC unlock impacts on total revenues		8			—			150			(36	)		(10	)	NM				72	%		8			104		NM

Net realized gains (losses) and other, before tax and DAC, excluded from core revenues		(2,019	)		(675	)		377			(316	)		(1,123	)		44	%	NM				(3,471	)		(1,062	)		69	%


Total revenues	$	(2,004	)	$	(2,168	)	$	2,812		$	5,106		$	2,464		NM				(52	%)	$	1,018		$	10,382		NM

CORE EARNINGS BY SEGMENT
Retail Products Group
Individual Annuity	$	169		$	(198	)	$	65		$	61		$	89			(47	%)		46	%	$	532		$	215			(60	%)
Other Retail		14			(2	)		1			5			11			(21	%)		120	%		41			17			(59	%)

Total Retail Products Group		183			(200	)		66			66			100			(45	%)		52	%		573			232			(60	%)
Individual Life		45			26			26			41			50			11	%		22	%		129			117			(9	%)

Total Individual Markets Group		228			(174	)		92			107			150			(34	%)		40	%		702			349			(50	%)

Group Benefits		100			90			66			41			85			(15	%)		107	%		255			192			(25	%)
Retirement Plans		12			(3	)		—			6			8			(33	%)		33	%		62			14			(77	%)

Total Employer Markets Group		112			87			66			47			93			(17	%)		98	%		317			206			(35	%)

International Markets Group		50			(110	)		(31	)		32			58			16	%		81	%		181			59			(67	%)
Institutional Solutions Group		1			(40	)		(20	)		(5	)		(6	)	NM				(20	%)		50			(31	)	NM

Other		—			(24	)		5			(46	)		(27	)		—			41	%		(16	)		(68	)	NM


Core earnings, excluding impacts of DAC unlock		391			(261	)		112			135			268			(31	%)		99	%		1,234			515			(58	%)

DAC unlock impacts on net income		(941	)		—			(1,490	)		360			62		NM				(83	%)		(941	)		(1,068	)		(13	%)

Net realized gains (losses) and other, net of tax and DAC, excluded from core earnings		(1,265	)		(546	)		120			(319	)		(653	)		48	%		(105	%)		(1,929	)		(852	)		56	%
Net income (loss)	$	(1,815	)	$	(807	)	$	(1,258	)	$	176		$	(323	)		82	%	NM			$	(1,636	)	$	(1,405	)		14	%


[1]		This page represents financial results as reported on page L-1 excluding the impacts of the unlocks recorded in the three months ended September 30, 2008, March 31, 2009, June 30, 2009 and September 30, 2009.

L-1a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
OPERATING RESULTS


																Year Over
	THREE MONTHS ENDED															Year			Sequential			NINE MONTHS ENDED
	Sept. 30,			Dec. 31,			March 31,			June 30,			Sept. 30,			3 Month			3 Month			SEPTEMBER 30,
	2008			2008			2009			2009			2009			Change			Change			2008			2009			Change
REVENUES
Earned premiums [3]	$	1,335		$	1,296		$	1,318		$	1,114		$	1,068			(20	%)		(4	%)	$	3,869		$	3,500			(10	%)
Fee income [3]		1,332			1,081			1,148			1,060			1,137			(15	%)		7	%		4,061			3,345			(18	%)
Net investment income (loss)
Securities available-for-sale and other		759			638			689			739			748			(1	%)		1	%		2,407			2,176			(10	%)
Equity securities held for trading [1]		(3,415	)		(4,500	)		(724	)		2,523			638		NM				(75	%)		(5,840	)		2,437		NM

Total net investment income (loss)		(2,656	)		(3,862	)		(35	)		3,262			1,386		NM				(58	%)		(3,433	)		4,613		NM
Net realized capital losses — core		(8	)		(8	)		(12	)		(10	)		(2	)		75	%		80	%		(20	)		(24	)		(20	%)

Total core revenues		3			(1,493	)		2,419			5,426			3,589		NM				(34	%)		4,477			11,434			155	%

Net realized gains (losses) and other, before tax and DAC, excluded from core revenues		(2,007	)		(675	)		393			(320	)		(1,125	)		44	%	NM				(3,459	)		(1,052	)		70	%

Total revenues		(2,004	)		(2,168	)		2,812			5,106			2,464		NM				(52	%)		1,018			10,382		NM


BENEFITS AND EXPENSES
Benefits, losses and loss adjustment expenses [3]		2,095			1,829			3,033			1,342			1,400			(33	%)		4	%		5,595			5,775			3	%
Benefits, losses and loss adjustment expenses — Returns credited on International variable annuities [1]		(3,415	)		(4,500	)		(724	)		2,523			638		NM				(75	%)		(5,840	)		2,437		NM
Amortization of deferred policy acquisition costs and present value of future profits [3]		1,408			424			1,554			(12	)		43			(97	%)	NM				2,046			1,585			(23	%)
Goodwill impairment [2]		—			422			—			—			—			—			—			—			—			—
Insurance operating costs and other expenses [4]		838			782			755			850			812			(3	%)		(4	%)		2,518			2,417			(4	%)

Total benefits and expenses		926			(1,043	)		4,618			4,703			2,893		NM				(38	%)		4,319			12,214			183	%


CORE EARNINGS
Core earnings before income taxes		(923	)		(450	)		(2,199	)		723			696		NM				(4	%)		158			(780	)	NM
Income tax expense (benefit) [3]		(382	)		(189	)		(818	)		230			197		NM				(14	%)		(144	)		(391	)		(172	%)

Core earnings		(541	)		(261	)		(1,381	)		493			499		NM				1	%		302			(389	)	NM
Net realized gains (losses) and other, net of tax and DAC, excluded from core earnings [3]		(1,274	)		(546	)		123			(317	)		(822	)		35	%		(159	%)		(1,938	)		(1,016	)		48	%

Net income (loss)		(1,815	)		(807	)		(1,258	)		176			(323	)		82	%	NM				(1,636	)		(1,405	)		14	%

L-2

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
TOTAL ASSETS UNDER MANAGEMENT


											Year Over
											Year			Sequential
	Sept. 30,		Dec. 31,		March 31,		June 30,		Sept. 30,		3 Month			3 Month
TOTAL ASSETS UNDER MANAGEMENT	2008		2008		2009		2009		2009		Change			Change
Assets
General account	$	114,838	$	117,707	$	112,237	$	113,037	$	115,958		1	%		3	%
Separate account		154,029		130,184		124,738		133,946		155,958		1	%		16	%

Total assets		268,867		247,891		236,975		246,983		271,916		1	%		10	%
Mutual fund assets		64,438		50,126		46,467		54,689		62,351		(3	%)		14	%

Total assets under management	$	333,305	$	298,017	$	283,442	$	301,672	$	334,267		—			11	%

L-3

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
CONSOLIDATED BALANCE SHEETS


																Year Over
																Year			Sequential
	Sept. 30,			Dec. 31,			March 31,			June 30,			Sept. 30,			3 Month			3 Month
	2008			2008			2009			2009			2009			Change			Change
Investments
Fixed maturities, available-for-sale, at fair value	$	46,292		$	45,182		$	42,428		$	43,980		$	45,927			(1	%)		4	%
Equity securities, trading, at fair value		33,655			30,820			27,813			30,813			33,463			(1	%)		9	%
Equity securities, available-for-sale, at fair value		908			711			525			642			690			(24	%)		7	%
Mortgage loans		5,460			5,684			5,633			5,503			5,365			(2	%)		(3	%)
Policy loans, at outstanding balance		2,159			2,208			2,197			2,204			2,209			2	%		—
Limited partnerships and other alternative investments		1,410			1,129			955			875			860			(39	%)		(2	%)
Other investments		1,308			1,473			2,909			954			1,513			16	%		59	%
Short term Investments		3,793			6,937			8,580			7,365			7,478			97	%		2	%

Total investments		94,985			94,144			91,040			92,336			97,505			3	%		6	%

Cash		1,683			1,648			1,604			2,196			2,134			27	%		(3	%)
Premiums receivable and agents’ balances		390			407			407			374			365			(6	%)		(2	%)
Reinsurance recoverables		2,103			2,918			3,177			2,549			2,355			12	%		(8	%)
Deferred policy acquisition costs and present value of future profits		11,012			11,988			10,828			10,529			9,785			(11	%)		(7	%)
Deferred income taxes		1,324			2,183			3,201			2,528			1,637			24	%		(35	%)
Goodwill		880			462			470			470			470			(47	%)		—
Property and equipment, net		380			400			394			355			343			(10	%)		(3	%)
Other assets		2,081			3,557			1,116			1,700			1,364			(34	%)		(20	%)
Separate account assets		154,029			130,184			124,738			133,946			155,958			1	%		16	%

Total assets	$	268,867		$	247,891		$	236,975		$	246,983		$	271,916			1	%		10	%


Future policy benefits, unpaid losses and loss adjustment expenses	$	16,602		$	16,747		$	18,562		$	18,153		$	17,950			8	%		(1	%)
Other policyholder funds and benefits payable		47,208			53,753			52,952			49,257			47,996			2	%		(3	%)
Other policyholder funds payable — International variable annuities		33,629			30,799			27,793			30,793			33,439			(1	%)		9	%
Unearned premiums		163			138			138			145			168			3	%		16	%
Consumer Notes		1,225			1,210			1,202			1,199			1,193			(3	%)		(1	%)
Debt		92			92			66			67			67			(27	%)		—
Other liabilities		7,691			7,297			5,561			5,463			5,224			(32	%)		(4	%)
Separate account liabilities		154,029			130,184			124,738			133,946			155,958			1	%		16	%

Total liabilities		260,639			240,220			231,012			239,023			261,995			1	%		10	%

Equity excluding AOCI, net of tax		10,752			12,095			10,839			12,112			11,809			10	%		(3	%)
AOCI, net of tax		(2,649	)		(4,516	)		(4,904	)		(4,172	)		(1,913	)		28	%		54	%

Total stockholders’ equity		8,103			7,579			5,935			7,940			9,896			22	%		25	%

Noncontrolling Interest		125			92			28			20			25			(80	%)		25	%

Total equity		8,228			7,671			5,963			7,960			9,921			21	%		25	%

Total liabilities and equity	$	268,867		$	247,891		$	236,975		$	246,983		$	271,916			1	%		10	%

L-4

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
DEFERRED POLICY ACQUISITION COSTS and PRESENT VALUE OF FUTURE PROFITS (“DAC”)


																			Institutional
	Individual			Other			Individual			Group			Retirement						Solutions
	Annuity			Retail			Life			Benefits			Plans			International			Group			Total
YEAR-TO-DATE
Balance, December 31, 2008	$	5,693		$	108		$	3,027		$	81		$	877		$	2,046		$	156		$	11,988
Adjustments to unrealized gains and losses on securities available — for — sale and other		(1,277	)		(42	)		(420	)		(1	)		(209	)		46			—			(1,903	)

Balance excluding adjustments to unrealized gains and losses on securities available — for — sale and other		4,416			66			2,607			80			668			2,092			156			10,085
Cumulative effect of accounting changes (Pre-tax) [1]		(4	)		—			(19	)		—			(31	)		(24	)		—			(78	)
Capitalization		177			31			198			45			93			54			6			604
Amortization — Deferred Policy Acquisition Costs		(326	)		(38	)		(116	)		(45	)		(17	)		(171	)		(12	)		(725	)
Amortization — Present Value of Future Profits		—			—			(18	)		—			—			—			—			(18	)
Amortization — Realized Capital Gains / Losses		(257	)		—			15			—			38			(28	)		—			(232	)
Amortization — Unlock — Core		(538	)		—			(134	)		—			(69	)		(100	)		(1	)		(842	)
Amortization — Unlock — Non-core		(214	)		—			(7	)		—			(15	)		(11	)		—			(247	)
Effect of Currency Translation Adjustment		—			—			—			—			—			27			—			27

Balance, September 30, 2009		3,254			59			2,526			80			667			1,839			149			8,574
Adjustments to unrealized gains and losses on securities available — for — sale and other [1]		770			—			95			—			300			46			—			1,211

Balance, September 30, 2009 including adjustments to unrealized gains and losses on securities available-for-sale and other	$	4,024		$	59		$	2,621		$	80		$	967		$	1,885		$	149		$	9,785


[1]		Includes the cumulative effect adjustments as a result of the adoption of FSP FAS 115-2. The effect of SFAS 115-2 is offset within the adjustments to unrealized gains and losses on securities, available-for-sale and other.


	THREE MONTHS ENDED,
	March 31,			June 30,			Sept. 30,
	2009			2009			2009
DAC UNLOCK IMPACT ON REVENUES

Individual Annuity	$	72		$	(36	)	$	(15	)
Individual Life		63			(2	)		8
International Markets Group		(1	)		6			(1	)

Total DAC unlock impact on core revenues	$	134		$	(32	)	$	(8	)
DAC unlock impact on net realized gains (losses), before tax and DAC, excluded from core		16			(4	)		(2	)

Total DAC unlock impact on revenues	$	150		$	(36	)	$	(10	)

DAC UNLOCK IMPACT ON CORE EARNINGS BY SEGMENT
Retail Products Group
Individual Annuity	$	(989	)	$	246		$	224
Other Retail		—			—			—

Total Retail Products Group		(989	)		246			224
Individual Life		(26	)		2			(22	)

Total Individual Markets Group		(1,015	)		248			202
Retirement Plans		(54	)		—			7

Total Employer Markets Group		(54	)		—			7

International Markets Group		(424	)		110			23

Institutional Solutions Group		—			—			(1	)

DAC unlock impact on core earnings		(1,493	)		358			231


DAC unlock impact on net realized gains (losses), net of tax and DAC, excluded from core earnings		3			2			(169	)

Net income (loss)	$	(1,490	)	$	360		$	62

L-5

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
SUPPLEMENTAL DATA — ANNUITY DEATH AND LIVING BENEFITS


	As of September 30, 2009
BREAKDOWN OF INDIVIDUAL VARIABLE AND			NET AMT AT		% of NAR
GROUP ANNUITY ACCOUNT VALUE BY BENEFIT TYPE	ACCOUNT VALUE		RISK [9]		REINSURED			RETAINED NAR [9]
Maximum anniversary value (MAV) [1]
MAV only	$	27,380	$	9,565		69	%	$	2,929
with 5% rollup [2]		1,991		802		62	%		306
with Earnings Protection Benefit Rider (EPB) [3]		5,880		1,490		89	%		159
with 5% rollup & EPB		784		257		80	%		51

Total MAV		36,035		12,114		72	%		3,445
Asset Protection Benefit (APB) [4]		28,303		6,480		36	%		4,158
Lifetime Income Benefit (LIB) [5]		1,299		260		—	%		260
Reset [6] (5-7 years)		3,715		604		—	%		604
Return of Premium [7]/Other		20,724		1,898		8	%		1,751

SUBTOTAL U.S. GUARANTEED MINIMUM DEATH BENEFITS [10]	$	90,076	$	21,356		52	%	$	10,218

Less: General Account Value Subject to U.S. Guaranteed Minimum Death Benefits		6,858


SUBTOTAL SEPARATE ACCOUNT LIABILITIES SUBJECT TO U.S. GUARANTEED MINIMUM DEATH BENEFITS	$	83,218
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