The Hartford Financial Services Group, Inc. (HIG) 8-K Results of Operations and Financial Condition

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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): January 10, 2006

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.
Hartford Plaza
Hartford, Connecticut	06115-1900
(Address of principal executive offices)	(Zip Code)

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

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))

TABLE OF CONTENTS

	Item 2.02. Results of Operations and Financial Condition.
SIGNATURE

Item 2.02. Results of Operations and Financial Condition.

This Current Report on Form 8-K is filed on behalf of The Hartford Financial Services Group, Inc. (“The Hartford” or the “Company”) to provide supplemental financial disclosure relating to the fiscal years ended December 31, 2004 and 2003; and the nine month period ended September 30, 2005.

The Hartford intends to change its reporting segments effective for the quarter ending December 31, 2005. The segment change is in accordance with the provisions of Statement of Financial Accounting Standard No. 131, and reflects the manner in which the Company is currently organized for purposes of making operating decisions and assessing performance.

The new segments and their component products are as follows:

Life

Retail Products Group: This segment will include the Company’s individual annuities, retail mutual funds, 529 college savings plans, Canadian and offshore investment products. The Company intends to continue to prepare a separate income statement in its financial supplement for the individual annuity line of business.

Retirement Plans: This segment will include the Company’s retirement plan products and services to corporations and municipalities under Section 401(k), 403(b) and 457 plans.

Institutional Solutions Group: This segment will include institutional liability products, including structured settlements and institutional annuities (including terminal funding cases), as well as variable private placement life insurance owned by corporations and high net worth individuals.

The Individual Life and Group Benefits segments remain unchanged from their definitions as of September 30, 2005.

International: This segment, which primarily has operations located in Japan, Brazil, Ireland and the UK, provides investments, retirement savings and other insurance products to individuals and groups outside the United States and Canada. The Company intends to prepare a separate income statement in its financial supplement for the Japanese operations.

Life includes in an Other category its leveraged corporate owned life insurance product line of business; corporate items not directly allocated to any of its reportable operating segments; net realized capital gains and losses on sales generated from movements in interest rates, less amortization of those gains or losses back to the reportable segments; net realized capital gains and losses generated from credit related events, less a credit risk fee charged to the reportable segments; net realized capital gains and losses from non-qualifying derivative strategies (including embedded derivatives) other than the net

periodic coupon settlements on credit derivatives and the net periodic coupon settlements on the cross currency swap used to economically hedge currency and interest rate risk generated from sales of the Company’s yen based fixed annuity, which are allocated to the reportable segments; the mark-to-market adjustment for the equity securities held for trading reported in net investment income and the related change in interest credited reported as a component of benefits, claims and claim adjustment expenses since these items are not considered by the Company’s chief operating decision maker in evaluating the International results of operations; and intersegment eliminations.

Property & Casualty

Property & Casualty is organized into four reportable operating segments: The underwriting segments of Business Insurance, Personal Lines, Specialty Commercial (collectively “Ongoing Operations”) and the Other Operations segment. The component products of each segment remain unchanged from September 30, 2005.

The profitability of the Business Insurance, Personal Lines and Specialty Commercial segments will continue to be evaluated primarily based on underwriting results. The Company will now allocate income and expense items not directly attributed to the underwriting segments, such as net investment income, net realized 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 will now be evaluated based on net income.

Additionally, effective for the quarter ended December 31, 2005, the Company changed its method for calculating workers’ compensation premium to be consistent with the method followed for the rest of the Company’s property & casualty business. This change had no effect on earned premium. For all periods presented, written premium for workers’ compensation business has been adjusted to reflect written premium in the period the policies incept. Previously, written premiums for most workers’ compensation policies were calculated based on the period the premiums were billed.

Corporate

Corporate remains unchanged from its definition as of September 30, 2005.

As provided in General Instruction B.2 of Form 8-K, the information and exhibit contained in this Form 8-K shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall they be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

FORM 8-K
JANUARY 10, 2006

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

SUPPLEMENTAL FINANCIAL DISCLOSURE

TABLE OF CONTENTS

	Basis of Presentation	i, ii
CONSOLIDATED	Operating Results by Segment
	Nine months ended September 30, 2005		C-1a
	Twelve months ended December 31, 2004		C-1b
LIFE	Financial Highlights
	Nine months ended September 30, 2005		L-1a
	Twelve months ended December 31, 2004		L-1b
	Operating Results
	Nine months ended September 30, 2005		L-2a
	Twelve months ended December 31, 2004		L-2b
	Retail Products Group
	Income Statements
	Individual Annuity
	Nine months ended September 30, 2005		L-3a
	Twelve months ended December 31, 2004		L-3b
	Other
	Nine months ended September 30, 2005		L-4a
	Twelve months ended December 31, 2004		L-4b
	Supplemental Data
	Sales/Deposits
	Nine months ended September 30, 2005		L-5a
	Twelve months ended December 31, 2004		L-5b
	Assets Under Management
	As of September 30, 2005		L-6a
	As of December 31, 2004		L-6b
	Other Retail — Asset Rollforward
	As of September 30, 2005		L-7a
	As of December 31, 2004		L-7b
	Retirement Plans
	Income Statements
	Nine months ended September 30, 2005		L-8a
	Twelve months ended December 31, 2004		L-8b
	Supplemental Data
	Sales/Deposits
	Nine months ended September 30, 2005		L-9a
	Twelve months ended December 31, 2004		L-9b
	Assets Under Management
	As of September 30, 2005		L-10a
	As of December 31, 2004		L-10b
	Account Value Rollforward
	As of September 30, 2005		L-11a
	As of December 31, 2004		L-11b
	Institutional Solutions Group
	Income Statements
	Nine months ended September 30, 2005		L-12a
	Twelve months ended December 31, 2004		L-12b
LIFE (CONT.)	Institutional Solutions Group (Cont.)
	Supplemental Data
	Sales/Deposits
	Nine months ended September 30, 2005		L-13a
	Twelve months ended December 31, 2004		L-13b
	Assets Under Management
	As of September 30, 2005		L-14a
	As of December 31, 2004		L-14b
	Account Value and Asset Rollforward
	As of September 30, 2005		L-15a
	As of December 31, 2004		L-15b
	Individual Life
	Income Statements
	Nine months ended September 30, 2005		L-16a
	Twelve months ended December 31, 2004		L-16b
	Group Benefits
	Income Statements
	Nine months ended September 30, 2005		L-17a
	Twelve months ended December 31, 2004		L-17b
	International Highlights
	Nine months ended September 30, 2005		L-18a
	Twelve months ended December 31, 2004		L-18b
	International — Japan
	Income Statements
	Nine months ended September 30, 2005		L-19a
	Twelve months ended December 31, 2004		L-19b
	Supplemental Data
	Account Value Rollforward
	As of September 30, 2005		L-20a
	As of December 31, 2004		L-20b
PROPERTY & CASUALTY	Financial Highlights
	Nine months ended September 30, 2005	PC-1a
	Twelve months ended December 31, 2004	PC-1b
	Total Property & Casualty Operating Results
	Nine months ended September 30, 2005	PC-2a
	Twelve months ended December 31, 2004	PC-2b
	Ongoing Operations Operating Results
	Nine months ended September 30, 2005	PC-3a
	Twelve months ended December 31, 2004	PC-3b
	Specialty Commercial Underwriting Results
	Nine months ended September 30, 2005	PC-4a
	Twelve months ended December 31, 2004	PC-4b
	Specialty Commercial Written and Earned Premiums
	Nine months ended September 30, 2005	PC-5a
	Twelve months ended December 31, 2004	PC-5b
	Other Operations Operating Results
	Nine months ended September 30, 2005	PC-6a
	Twelve months ended December 31, 2004	PC-6b

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 six reportable operating segments: Retail Products Group, Retirement Plans, Institutional Solutions Group, Individual Life, Group Benefits and International. Life also includes in an Other category net realized capital gains and losses other than net periodic settlements on credit derivatives (reflected in each applicable segment) and net periodic settlements on the Japan fixed annuity cross-currency swap (reflected in the International segment); corporate items not directly allocated to any of its reportable operating segments; and intersegment eliminations.

• Property & Casualty includes Ongoing Operations and Other Operations. Ongoing Operations includes the underwriting results of the Business Insurance, Personal Lines 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 Business Insurance, Personal Lines 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 based on net income.

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

• Certain operating and statistical measures have been incorporated herein to provide supplemental data that indicate trends in The Hartford’s current business. These measures include sales, net flows and account value.

• 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 claims and claim 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.

• Assets under management is an internal performance 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, correspondingly, in the level of assets under management.

• 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.

 i 

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 supplemental financial disclosure 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. Core earnings excludes the cumulative effect of accounting changes and excludes all realized capital gains and losses, except for certain gains and losses such as net periodic settlements on credit derivatives and net periodic settlements on the Japan fixed annuity cross-currency swap. The Company believes core earnings provides investors with a valuable measure of the performance of the Company’s ongoing businesses. Net income is the most directly comparable GAAP measure. A reconciliation of net income to core earnings for the periods presented herein is set forth on pages C-1a and C-1b. Core earnings per share is calculated based on a non-GAAP financial measure. Net income per share is the most directly comparable GAAP measure.

• The Hartford uses the non-GAAP financial measure core earnings, before tax related items, 2003 asbestos reserve addition, Bancorp litigation and severance charges, to further enhance investor understanding of the Company’s ongoing businesses by eliminating the effects of the 2003 asbestos reserve addition, which relates solely to legacy businesses, and the effects of tax related items (amounts related to tax benefits from prior tax years), Bancorp litigation and severance charges because these items either are non-recurring or are highly variable from period to period. Net income is the most directly comparable GAAP measure. A reconciliation of net income (loss) to core earnings, before tax related items, 2003 asbestos reserve addition, Bancorp litigation and severance charges, for the periods presented herein is set forth at pages C-1a and C-1b. Core earnings, before tax related items, 2003 asbestos reserve addition, Bancorp litigation and severance charges, per share is calculated based on a non-GAAP financial measure. Net income per share is the most directly comparable GAAP measure.

• 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-casualty operations. Because written premiums represents the amount of premium charged for policies issued during a fiscal period, The Hartford believes it is useful to investors because it reflects current trends in The Hartford’s sale of property-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.

• The Company changed its method for calculating workers’ compensation written premium to be consistent with the method followed for the rest of the Company’s property & casualty business. This change had no effect on earned premium. For all periods presented, written premium for workers’ compensation business has been adjusted to reflect written premium in the period the policies incept. Previously, written premiums for most workers’ compensation policies were calculated based on the period the premiums were billed.

• The profitability of the Business Insurance, Personal Lines and Specialty Commercial underwriting segments are evaluated by The Hartford’s management primarily based upon underwriting results. Underwriting results is a before-tax measure that represents earned premiums less incurred claims, claim adjustment expenses and underwriting expenses. 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.

• A catastrophe is a severe loss, resulting from natural and manmade events, including risks such as fire, earthquake, windstorm, explosion, terrorism or other 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 claims and claim adjustment 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.

 ii 

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

OPERATING RESULTS BY SEGMENT

	THREE MONTHS ENDED									NINE MONTHS ENDED
	Mar. 31,			June 30,			Sept. 30,			SEPTEMBER 30,
	2005			2005			2005			2004			2005			Change
LIFE
Retail Products Group
Individual Annuity	$	136		$	141		$	158		$	352		$	435			24	%
Other Retail [1]		12			(14	)		14			25			12			(52	%)
Total Retail Products Group		148			127			172			377			447			19	%
Retirement Plans		17			17			20			49			54			10	%
Institutional Solutions Group		21			21			24			50			66			32	%
Individual Life		39			39			45			116			123			6	%
Group Benefits		59			64			68			164			191			16	%
International		14			21			28			37			63			70	%
Other [2]		(61	)		(9	)		7			215			(63	)	NM
Total Life core earnings	$	237		$	280		$	364		$	1,008		$	881			(13	%)
Less: Tax related items [3]		—			—			—			190			—			(100	%)
Total Life core earnings, before tax related items	$	237		$	280		$	364		$	818		$	881			8	%
PROPERTY & CASUALTY
Ongoing Operations
Ongoing Operations Underwriting Results
Business Insurance	$	118		$	141		$	125		$	297		$	384			29	%
Personal Lines		127			188			71			44			386		NM
Specialty Commercial		40			5			(143	)		(139	)		(98	)		29	%
Total Ongoing Operations underwriting results		285			334			53			202			672		NM
Net servicing income		13			15			12			40			40			—
Net investment income		260			258			279			650			797			23	%
Periodic net coupon settlements on non-qualifying derivatives, before-tax		—			—			—			8			—			(100	%)
Other expenses		(59	)		(37	)		(50	)		(162	)		(146	)		10	%
Income tax expense		(149	)		(178	)		(77	)		(165	)		(404	)		(145	%)
Ongoing Operations core earnings	$	350		$	392		$	217		$	573		$	959			67	%
Less: Tax related items [3]		—			—			—			26			—			(100	%)
Ongoing Operations core earnings, before tax related items	$	350		$	392		$	217		$	547		$	959			75	%
Other Operations
Other Operations core earnings	$	36		$	(23	)	$	15		$	(75	)	$	28		NM
Total Property & Casualty core earnings	$	386		$	369		$	232		$	498		$	987			98	%
Total Property & Casualty core earnings, before tax related items	$	386		$	369		$	232		$	472		$	987			109	%
CORPORATE
Total Corporate core earnings	$	(41	)	$	(43	)	$	(40	)	$	(131	)	$	(124	)		5	%
CONSOLIDATED
Core earnings, before tax related items	$	582		$	606		$	556		$	1,159		$	1,744			50	%
Add: Tax related items [3]		—			—			—			216			—			(100	%)
Core earnings	$	582		$	606		$	556		$	1,375		$	1,744			27	%
Add: Net realized capital gains (losses), after-tax [4]		84			(4	)		(17	)		143			63			(56	%)
Add: Cumulative effect of accounting change, after-tax		—			—			—			(23	)		—			100	%
Net income	$	666		$	602		$	539		$	1,495		$	1,807			21	%
PER SHARE DATA
Diluted earnings per share
Core earnings before tax related items	$	1.93		$	1.99		$	1.81		$	3.91		$	5.73			47	%
Core earnings	$	1.93		$	1.99		$	1.81		$	4.64		$	5.73			23	%
Net income	$	2.21		$	1.98		$	1.76		$	5.04		$	5.94			18	%

[1]	Included in the three months ended June 30, 2005 and the nine months ended September 30, 2005 is an expense of $24, after-tax, which is an estimate of the termination value of a provision of an agreement with a distribution partner of the Company’s retail mutual funds.
[2]	Included in the three months ended March 31, 2005 and the nine months ended September 30, 2005 is a charge of $66 to reserve for investigations related to market timing by the SEC and New York Attorney General’s Office and directed brokerage by the SEC.
[3]	For the nine months ended September 30, 2004, Life includes $190 and Property and Casualty includes $26 of tax benefit related to prior tax years.
[4]	Includes those net realized capital gains not included in core earnings.

C-1a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

OPERATING RESULTS BY SEGMENT

	THREE MONTHS ENDED												YEAR ENDED
	Mar. 31,			June 30,			Sept. 30,			Dec. 31,			DECEMBER 31,
	2004			2004			2004			2004			2003			2004			Change
LIFE
Retail Products Group
Individual Annuity	$	112		$	113		$	127		$	134		$	392		$	486			24	%
Other Retail		10			8			7			11			20			36			80	%
Total Retail Products Group		122			121			134			145			412			522			27	%
Retirement Plans		14			18			17			18			42			67			60	%
Institutional Solutions Group		17			14			19			18			32			68			113	%
Individual Life		34			37			45			40			145			156			8	%
Group Benefits		46			49			69			65			148			229			55	%
International		10			11			16			6			13			43		NM
Other		12			7			196			16			43			231		NM
Total Life core earnings	$	255		$	257		$	496		$	308		$	835		$	1,316			58	%
Less: Tax related items [1]		—			—			190			—			30			190		NM
Less: Bancorp litigation		—			—			—			—			(40	)		—			100	%
Total Life core earnings, before tax related items and Bancorp litigation	$	255		$	257		$	306		$	308		$	845		$	1,126			33	%
PROPERTY & CASUALTY
Ongoing Operations
Ongoing Operations Underwriting Results
Business Insurance	$	225		$	97		$	(25	)	$	63		$	158		$	360			128	%
Personal Lines		106			75			(137	)		94			130			138			6	%
Specialty Commercial		(110	)		29			(58	)		86			10			(53	)	NM
Total Ongoing Operations underwriting results		221			201			(220	)		243			298			445			49	%
Net servicing and other income		9			21			10			2			8			42		NM
Net investment income		215			207			228			253			836			903			8	%
Periodic net coupon settlements on non-qualifying derivatives, before-tax		4			3			1			1			18			9			(50	%)
Other expenses		(61	)		(51	)		(50	)		(36	)		(260	)		(198	)		24	%
Income tax (expense) benefit		(113	)		(110	)		58			(139	)		(203	)		(304	)		(50	%)
Ongoing Operations core earnings	$	275		$	271		$	27		$	324		$	697		$	897			29	%
Less: Tax related items [1]		—			—			26			—			—			26			—
Less: Severance charges		—			—			—			—			(27	)		—			100	%
Ongoing Operations core earnings, before tax related items and severance charges	$	275		$	271		$	1		$	324		$	724		$	871			20	%
Other Operations
Other Operations core earnings	$	22		$	(83	)	$	(14	)	$	7		$	(1,595	)	$	(68	)		96	%
Less: 2003 asbestos reserve addition		—			—			—			—			(1,701	)		—			100	%
Other Operations core earnings, before 2003 asbestos reserve addition	$	22		$	(83	)	$	(14	)	$	7		$	106		$	(68	)	NM
Total Property & Casualty core earnings	$	297		$	188		$	13		$	331		$	(898	)	$	829		NM
Total Property & Casualty core earnings before tax related items, 2003 asbestos reserve addition and severance charges	$	297		$	188		$	(13	)	$	331		$	830		$	803			(3	%)
CORPORATE
Total Corporate core earnings	$	(52	)	$	(38	)	$	(41	)	$	(42	)	$	(191	)	$	(173	)		9	%
CONSOLIDATED
Core earnings before tax related items, 2003 asbestos reserve addition, Bancorp litigation and severance charges	$	500		$	407		$	252		$	597		$	1,484		$	1,756			18	%
Add: Tax related items [1]		—			—			216			—			30			216		NM
Add: 2003 asbestos reserve addition		—			—			—			—			(1,701	)		—			100	%
Add: Bancorp litigation		—			—			—			—			(40	)		—			100	%
Add: Severance charges		—			—			—			—			(27	)		—			100	%
Core earnings	$	500		$	407		$	468		$	597		$	(254	)	$	1,972		NM
Add: Net realized capital gains, after-tax [2]		91			26			26			23			163			166			2	%
Add: Cumulative effect of accounting change, after-tax		(23	)		—			—			—			—			(23	)		—
Net income (loss)	$	568		$	433		$	494		$	620		$	(91	)	$	2,115		NM
PER SHARE DATA
Diluted earnings per share [3]
Core earnings before tax related items, 2003 asbestos reserve addition, Bancorp litigation and severance charges [4]	$	1.70		$	1.37		$	0.85		$	2.00		$	5.41		$	5.91			9	%
Core earnings	$	1.70		$	1.37		$	1.57		$	2.00		$	(0.93	)	$	6.64		NM
Net income (loss)	$	1.93		$	1.46		$	1.66		$	2.08		$	(0.33	)	$	7.12		NM

[1]	For the three months ended September 30, 2004 and the year ended December 31, 2004, Life includes $190 and Property and Casualty includes $26 of tax benefit related to prior tax years. For the year ended December 31, 2003, Life includes $30 of tax benefit related to prior tax years.
[2]	Includes those net realized capital gains not included in core earnings.
[3]	As a result of the antidilutive impact from the net loss for the year ended December 31, 2003, The Hartford is required by generally accepted accounting principles to use basic weighted average shares in the calculation of diluted earnings per share for the year ended December 31, 2003. In the absence of the net loss, 274.2 weighted average common shares outstanding and dilutive potential common shares would have been used in the calculation for the year ended December 31, 2003.
[4]	Calculated using weighted average common shares outstanding and dilutive potential common shares of 274.2 for the year ended December 31, 2003.

C-1b

LIFE

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

LIFE

FINANCIAL HIGHLIGHTS

	THREE MONTHS ENDED									NINE MONTHS ENDED
	March 31,			June 30,			Sept. 30,			SEPTEMBER 30,
	2005			2005			2005			2004			2005			Change
REVENUES
Retail Products Group
Individual Annuity	$	672		$	680		$	681		$	1,961		$	2,033			4	%
Other Retail		118			118			128			302			364			21	%
Total Retail Products Group		790			798			809			2,263			2,397			6	%
Retirement Plans		113			117			118			321			348			8	%
Institutional Solutions Group		299			340			358			907			997			10	%
Individual Life		261			259			277			772			797			3	%
Group Benefits		1,046			1,048			1,049			3,012			3,143			4	%
International		104			111			141			180			356			98	%
Other		143			49			53			369			245			(34	%)
Total revenues before net investment income on equity securities held for trading		2,756			2,722			2,805			7,824			8,283			6	%
Net investment income on equity securities held for trading [1]		221			303			1,500			383			2,024		NM
Total revenues	$	2,977		$	3,025		$	4,305		$	8,207		$	10,307			26	%
CORE EARNINGS BY SEGMENT
Retail Products Group
Individual Annuity	$	136		$	141		$	158		$	352		$	435			24	%
Other Retail [2]		12			(14	)		14			25			12			(52	%)
Total Retail Products Group		148			127			172			377			447			19	%
Retirement Plans		17			17			20			49			54			10	%
Institutional Solutions Group		21			21			24			50			66			32	%
Individual Life		39			39			45			116			123			6	%
Group Benefits		59			64			68			164			191			16	%
International		14			21			28			37			63			70	%
Other [3], [4]		(61	)		(9	)		7			215			(63	)	NM
																	—
Core earnings		237			280			364			1,008			881			(13	%)
Cumulative effect of accounting change, net of tax		—			—			—			(23	)		—			100	%
Net realized gains (losses), net of tax, included in net income of Other		54			(4	)		(18	)		77			32			(58	%)
Net Income	$	291		$	276		$	346		$	1,062		$	913			(14	%)

[1]	These revenues will fluctuate principally due to the investment income and the mark-to-market adjustment of the trading investment portfolio supporting the variable annuities business in the international operations, principally in Japan.
[2]	Included in the nine months ended September 30, 2005 is an expense of $24, after-tax, which is an estimate of the termination value of a provision of an agreement with a distribution partner of the Company’s retail mutual funds.
[3]	Included in the three months ended March 31, 2005 and the nine months ended September 30, 2005 is a charge of $66 to reserve for investigations related to market timing by the SEC and New York Attorney General and directed brokerage by the SEC.
[4]	Included in the nine months ended September 30, 2004 is a tax benefit of $190, which primarily relates to the favorable tax treatment of certain tax items.

L-1a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

LIFE

FINANCIAL HIGHLIGHTS

	THREE MONTHS ENDED										YEAR ENDED
	March 31,			June 30,		Sept. 30,			Dec. 31,		DECEMBER 31,
	2004			2004		2004			2004		2003		2004			Change
REVENUES
Retail Products Group
Individual Annuity [1]	$	626		$	629	$	706		$	666	$	1,753	$	2,627			50	%
Other Retail		103			99		100			105		310		407			31	%
Total Retail Products Group		729			728		806			771		2,063		3,034			47	%
Retirement Plans		102			109		110			113		381		434			14	%
Institutional Solutions Group		307			292		308			384		1,522		1,291			(15	%)
Individual Life		255			253		264			280		987		1,052			7	%
Group Benefits [2]		1,003			1,001		1,008			1,015		2,624		4,027			53	%
International		49			57		74			70		90		250			178	%
Other		157			105		107			108		400		477			19	%
Total revenues before net investment income on equity securities held for trading		2,602			2,545		2,677			2,741		8,067		10,565			31	%
Net investment income (loss) on equity securities held for trading [3]		456			101		(174	)		416		—		799			—
Total revenues	$	3,058		$	2,646	$	2,503		$	3,157	$	8,067	$	11,364			41	%
CORE EARNINGS BY SEGMENT
Retail Products Group
Individual Annuity	$	112		$	113	$	127		$	134	$	392	$	486			24	%
Other Retail		10			8		7			11		20		36			80	%
Total Retail Products Group		122			121		134			145		412		522			27	%
Retirement Plans		14			18		17			18		42		67			60	%
Institutional Solutions Group [4]		17			14		19			18		32		68			113	%
Individual Life		34			37		45			40		145		156			8	%
Group Benefits		46			49		69			65		148		229			55	%
International		10			11		16			6		13		43		NM
Other		12			7		196			16		43		231		NM
Core earnings [5]		255			257		496			308		835		1,316			58	%
Cumulative effect of accounting change, net of tax		(23	)		—		—			—		—		(23	)		—
Net realized gains (losses), net of tax, included in net income of Other		49			12		16			12		10		89		NM
Net Income	$	281		$	269	$	512		$	320	$	845	$	1,382			64	%

[1]	With the adoption of SOP 03-1, in the first quarter of 2004 certain annuity products were required to be accounted for in the general account.
[2]	Beginning in the first quarter of 2004, Group Benefits revenues includes revenues associated with a newly acquired business.
[3]	These revenues will fluctuate principally due to the investment income and the mark-to-market adjustment of the trading investment portfolio supporting the variable annuities business in the international operations, principally in Japan.
[4]	Included in the year ended December 31, 2003 is an expense related to the Bancorp litigation dispute of $40, after-tax.
[5]	Included in the three months ended September 30, 2004 and the year ended December 31, 2003 is a tax benefit of $190 and $30, respectively, which primarily relates to the favorable tax treatment of certain tax items.

L-1b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

LIFE

OPERATING RESULTS

	THREE MONTHS ENDED								NINE MONTHS ENDED
	March 31,		June 30,			Sept. 30,			SEPTEMBER 30,
	2005		2005			2005			2004			2005		Change
REVENUES
Earned premiums	$	999	$	1,047		$	1,045		$	3,023		$	3,091		2	%
Fee income		950		960			1,026			2,527			2,936		16	%
Net investment income
Securities available-for-sale and other		729		733			771			2,141			2,233		4	%
Equity securities held for trading [1]		221		303			1,500			383			2,024	NM
Total net investment income		950		1,036			2,271			2,524			4,257		69	%
Net realized capital gains (losses)		78		(18	)		(37	)		133			23		(83	%)
Total revenues		2,977		3,025			4,305			8,207		��	10,307		26	%
BENEFITS AND EXPENSES
Benefits, claims and claim adjustment expenses [1]		1,739		1,756			2,926			4,733			6,421		36	%
Amortization of deferred policy acquisition costs and present value of future profits		277		266			310			705			853		21	%
Insurance operating costs and other expenses		577		639			621			1,566			1,837		17	%
Total benefits and expenses		2,593		2,661			3,857			7,004			9,111		30	%
NET INCOME
Income before income taxes		384		364			448			1,203			1,196		(1	%)
Income tax expense (benefit)		93		88			102			118			283		140	%
Income before cumulative effect of accounting change, net of tax		291		276			346			1,085			913		(16	%)
Cumulative effect of accounting change, net of tax		—		—			—			(23	)		—		100	%
Net income		291		276			346			1,062			913		(14	%)
Less: Cumulative effect of accounting change, net of tax		—		—			—			(23	)		—		100	%
Less: net realized gains (losses), net of tax, included in net income of Other		54		(4	)		(18	)		77			32		(58	%)
Core earnings		237		280			364			1,008			881		(13	%)
Less: Tax related items		—		—			—			190			—		(100	%)
Core earnings, before tax related items	$	237	$	280		$	364		$	818		$	881		8	%

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

L-2a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

LIFE

OPERATING RESULTS

	THREE MONTHS ENDED										YEAR ENDED
	March 31,			June 30,		Sept. 30,			Dec. 31,		DECEMBER 31,
	2004			2004		2004			2004		2003			2004			Change
REVENUES
Earned premiums	$	995		$	970	$	1,058		$	1,049	$	3,086		$	4,072			32	%
Fee income		825			838		864			937		2,760			3,464			26	%
Net investment income [1]
Securities available-for-sale and other		706			709		726			735		2,041			2,876			41	%
Equity securities held for trading [2]		456			101		(174	)		416		—			799			—
Total net investment income		1,162			810		552			1,151		2,041			3,675			80	%
Other revenues [1]		—			—		—			—		131			—			—
Net realized capital gains (losses)		76			28		29			20		49			153		NM
Total revenues		3,058			2,646		2,503			3,157		8,067			11,364			41	%
BENEFITS AND EXPENSES
Benefits, claims and claim adjustment expenses [1][2]		1,877			1,531		1,325			1,897		4,616			6,630			44	%
Amortization of deferred policy acquisition costs and present value of future profits		233			235		237			277		778			982			26	%
Insurance operating costs and other expenses		527			514		525			579		1,607			2,145			33	%
Total benefits and expenses		2,637			2,280		2,087			2,753		7,001			9,757			39	%
NET INCOME
Income before income taxes		421			366		416			404		1,066			1,607			51	%
Income tax expense (benefit)		117			97		(96	)		84		221			202			(9	%)
Income before cumulative effect of accounting change, net of tax		304			269		512			320		845			1,405			66	%
Cumulative effect of accounting change, net of tax		(23	)		—		—			—		—			(23	)		—
Net income		281			269		512			320		845			1,382			64	%
Less: Cumulative effect of accounting change, net of tax		(23	)		—		—			—		—			(23	)		—
Less: net realized gains (losses), net of tax, included in net income of Other		49			12		16			12		10			89		NM
Core earnings		255			257		496			308		835			1,316			58	%
Less: Tax related items		—			—		190			—		30			190		NM
Less: Bancorp litigation		—			—		—			—		(40	)		—			100	%
Core earnings, before tax related items and Bancorp litigation	$	255		$	257	$	306		$	308	$	845		$	1,126			33	%

[1]	With the adoption of SOP 03-1, certain annuity products were required to be accounted for in the general account. This change in accounting results in an increase in and volatility in net investment income and benefits expense, as well as a decrease in other revenues beginning in the first quarter 2004.
[2]	Following adoption of SOP 03-1 on January 1, 2004, net investment income and benefits expense will fluctuate principally due to the investment income and the mark-to-market adjustment of the trading investment portfolio supporting the variable annuities business in the international operations, principally in Japan.

L-2b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

RETAIL PRODUCTS GROUP — INDIVIDUAL ANNUITY

INCOME STATEMENTS

	THREE MONTHS ENDED									NINE MONTHS ENDED
	March 31,			June 30,			Sept. 30,			SEPTEMBER 30,
	2005			2005			2005			2004			2005			Change
Revenues
Premiums and other considerations
Variable annuity fees	$	410		$	416		$	440		$	1,104		$	1,266			15	%
Mutual fund and other fees		30			32			28			78			90			15	%
Total fee income		440			448			468			1,182			1,356			15	%
Direct premiums		19			28			18			124			65			(48	%)
Reinsurance premiums		(34	)		(33	)		(33	)		(106	)		(100	)		6	%
Total premiums and other considerations		425			443			453			1,200			1,321			10	%
Net investment income
Net investment income on G/A assets		268			258			250			825			776			(6	%)
Net investment income on assigned capital		17			17			17			52			51			(2	%)
Charge for invested capital		(42	)		(39	)		(40	)		(115	)		(121	)		(5	%)
Total net investment income		243			236			227			762			706			(7	%)
Net realized capital gains (losses)		4			1			1			(1	)		6		NM
Total revenues		672			680			681			1,961			2,033			4	%
Benefits and Expenses
Benefits and claims
Death benefits		8			13			6			26			27			4	%
Other contract benefits		19			20			24			53			63			19	%
Change in reserve		10			13			1			88			24			(73	%)
Sales inducements		9			10			10			19			29			53	%
Interest credited on G/A assets		189			180			177			633			546			(14	%)
Total benefits and claims		235			236			218			819			689			(16	%)
Other insurance expenses
Commissions & wholesaling expenses		246			248			232			879			726			(17	%)
Operating expenses		49			53			47			143			149			4	%
Premium taxes and other expenses		5			5			4			13			14			8	%
Subtotal — expenses before deferral		300			306			283			1,035			889			(14	%)
Deferred policy acquisition costs		(198	)		(198	)		(176	)		(753	)		(572	)		24	%
Total other insurance expense		102			108			107			282			317			12	%
Amortization of deferred policy acquisition costs		168			163			172			436			503			15	%
Total benefits and expenses		505			507			497			1,537			1,509			(2	%)
Income before income tax expense		167			173			184			424			524			24	%
Income tax expense		31			32			26			72			89			24	%
Net Income before cumulative effect of accounting change [1]		136			141			158			352			435			24	%
Cumulative effect of accounting change, net of tax		—			—			—			(19	)		—			100	%
Net income	$	136		$	141		$	158		$	333		$	435			31	%

[1] Net income before cumulative effect of accounting change is defined as core earnings.

L - 3a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

RETAIL PRODUCTS GROUP — INDIVIDUAL ANNUITY

INCOME STATEMENTS

	THREE MONTHS ENDED												YEAR ENDED
	March 31,			June 30,			Sept. 30,			Dec. 31,			DECEMBER 31,
	2004			2004			2004			2004			2003			2004			Change
Revenues
Premiums and other considerations
Variable annuity fees	$	359		$	369		$	376		$	404		$	1,112		$	1,508			36	%
Mutual fund and other fees		26			26			26			28			131			106			(19	%)
Total fee income		385			395			402			432			1,243			1,614			30	%
Net guaranteed separate account income		—			—			—			—			101			—			(100	%)
Direct premiums		20			17			87			22			96			146			52	%
Reinsurance premiums		(34	)		(34	)		(38	)		(36	)		(130	)		(142	)		(9	%)
Total premiums and other considerations		371			378			451			418			1,310			1,618			24	%
Net investment income
Net investment income on G/A assets		275			273			277			272			501			1,097			119	%
Net investment income on assigned capital		16			18			18			19			64			71			11	%
Charge for invested capital		(36	)		(40	)		(39	)		(43	)		(133	)		(158	)		(19	%)
Total net investment income		255			251			256			248			432			1,010			134	%
Net realized capital gains (losses)		—			—			(1	)		—			11			(1	)	NM
Total revenues		626			629			706			666			1,753			2,627			50	%
Benefits and Expenses
Benefits and claims
Death benefits		4			8			14			8			51			34			(33	%)
Other contract benefits		16			18			19			19			73			72			(1	%)
Change in reserve		9			6			73			9			45			97			116	%
Sales inducements		6			6			7			11			66			30			(55	%)
Interest credited on G/A assets		211			211			211			208			284			841			196	%
Total benefits and claims		246			249			324			255			519			1,074			107	%
Other insurance expenses
Commissions & wholesaling expenses		325			290			264			248			1,087			1,127			4	%
Operating expenses		46			47			50			48			190			191			1	%
Premium taxes and other expenses		4			5			4			7			17			20			18	%
Subtotal — expenses before deferral		375			342			318			303			1,294			1,338			3	%
Deferred policy acquisition costs		(286	)		(249	)		(218	)		(197	)		(965	)		(950	)		2	%
Total other insurance expense		89			93			100			106			329			388			18	%
Amortization of deferred policy acquisition costs		149			144			143			157			453			593			31	%
Total benefits and expenses		484			486			567			518			1,301			2,055			58	%
Income before income tax expense		142			143			139			148			452			572			27	%
Income tax expense [1]		30			30			12			14			60			86			43	%
Net Income before cumulative effect of accounting change [2]		112			113			127			134			392			486			24	%
Cumulative effect of accounting change, net of tax		(19	)		—			—			—			—			(19	)		—
Net income	$	93		$	113		$	127		$	134		$	392		$	467			19	%

[1]	Included in the year ended December 31, 2003 is a tax benefit of $19, which primarily relates to the favorable tax treatment of certain tax items.
[2]	Net income before cumulative effect of accounting change is defined as core earnings.

L - 3b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

RETAIL PRODUCTS GROUP — OTHER

INCOME STATEMENTS

	THREE MONTHS ENDED									NINE MONTHS ENDED
	March 31,			June 30,			Sept. 30,			SEPTEMBER 30,
	2005			2005			2005			2004			2005			Change
Revenues
Premiums and other considerations
Variable annuity fees	$	1		$	2		$	3		$	1		$	6		NM
Mutual fund and other fees		116			116			123			302			355			18	%
Total fee income		117			118			126			303			361			19	%
Net investment income
Net investment income on G/A assets		1			—			2			—			3			—
Net investment income on assigned capital		—			—			—			(1	)		—			100	%
Total net investment income		1			—			2			(1	)		3		NM
Net realized capital gains (losses)		—			—			—			—			—			—
Total revenues		118			118			128			302			364			21	%
Benefits and Expenses
Benefits and claims
Total benefits and claims		—			—			—			—			—			—
Other insurance expenses
Commissions & wholesaling expenses		74			74			78			196			226			15	%
Operating expenses		23			23			21			62			67			8	%
Premium taxes and other expenses [1]		4			41			7			8			52		NM
Subtotal — expenses before deferral		101			138			106			266			345			30	%
Deferred policy acquisition costs		(14	)		(13	)		(14	)		(42	)		(41	)		2	%
Total other insurance expense		87			125			92			224			304			36	%
Amortization of deferred policy acquisition costs		13			14			14			40			41			2	%
Total benefits and expenses		100			139			106			264			345			31	%
Income before income tax expense		18			(21	)		22			38			19			(50	%)
Income tax expense		6			(7	)		8			13			7			(46	%)
Net income [2]	$	12		$	(14	)	$	14		$	25		$	12			(52	%)

[1]	Included in the three months ended June 30, 2005 the Company recorded an expense of $37, pre-tax, which is an estimate of the termination value of a provision of an agreement with a distribution partner of the Company’s mutual funds.
[2]	Net income is defined as core earnings.

L - 4a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

RETAIL PRODUCTS GROUP — OTHER

INCOME STATEMENTS

	THREE MONTHS ENDED												YEAR ENDED
	March 31,			June 30,			Sept. 30,			Dec. 31,			DECEMBER 31,
	2004			2004			2004			2004			2003			2004			Change
Revenues
Premiums and other considerations
Variable annuity fees	$	1		$	—		$	—		$	1		$	—		$	2			—
Mutual fund and other fees		102			100			100			101			310			403			30	%
Total fee income		103			100			100			102			310			405			31	%
Direct premiums		—			(1	)		1			1			—			1			—
Total premiums and other considerations		103			99			101			103			310			406			31	%
Net investment income
Net investment income on G/A assets		—			—			—			1			—			1			—
Net investment income on assigned capital		—			—			(1	)		1			—			—			—
Total net investment income		—			—			(1	)		2			—			1			—
Total revenues		103			99			100			105			310			407			31	%
Benefits and Expenses
Benefits and claims
Total benefits and claims		—			—			—			—			—			—			—
Other insurance expenses
Commissions & wholesaling expenses		69			66			61			66			198			262			32	%
Operating expenses		19			20			23			20			69			82			19	%
Premium taxes and other expenses		1			2			5			2			10			10			—
Subtotal — expenses before deferral		89			88			89			88			277			354			28	%
Deferred policy acquisition costs		(15	)		(15	)		(12	)		(13	)		(46	)		(55	)		(20	%)
Total other insurance expense		74			73			77			75			231			299			29	%
Amortization of deferred policy acquisition costs		13			14			13			13			48			53			10	%
Total benefits and expenses		87			87			90			88			279			352			26	%
Income before income tax expense		16			12			10			17			31			55			77	%
Income tax expense		6			4			3			6			11			19			73	%
Net income [1]	$	10		$	8		$	7		$	11		$	20		$	36			80	%

[1] Net income is defined as core earnings.

L - 4b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

RETAIL PRODUCTS GROUP

SUPPLEMENTAL DATA — SALES/DEPOSITS

	THREE MONTHS ENDED						NINE MONTHS ENDED
	March 31,		June 30,		Sept. 30,		SEPTEMBER 30,
	2005		2005		2005		2004		2005		Change
Individual Annuity
Broker-dealer	$	1,892	$	1,818	$	1,676	$	7,880	$	5,386		(32	%)
Banks		1,281		1,140		1,127		4,546		3,548		(22	%)
Total sales/deposits by distribution		3,173		2,958		2,803		12,426		8,934		(28	%)
Variable		3,103		2,886		2,748		11,860		8,737		(26	%)
Fixed MVA/other		70		72		55		566		197		(65	%)
Total sales/deposits by product		3,173		2,958		2,803		12,426		8,934		(28	%)
Retail Mutual Funds		1,446		1,321		1,307		4,609		4,074		(12	%)
529 College Savings Plan/Specialty Products/Other		118		97		129		265		344		30	%
Total Retail Products Group	$	4,737	$	4,376	$	4,239	$	17,300	$	13,352		(23	%)

L - 5a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

RETAIL PRODUCTS GROUP

SUPPLEMENTAL DATA — SALES/DEPOSITS

	THREE MONTHS ENDED								YEAR ENDED
	March 31,		June 30,		Sept. 30,		Dec. 31,		DECEMBER 31,
	2004		2004		2004		2004		2003		2004		Change
Individual Annuity
Broker-dealer	$	3,082	$	2,582	$	2,216	$	1,969	$	11,201	$	9,849		(12	%)
Banks		1,619		1,602		1,325		1,300		5,279		5,846		11	%
Total sales/deposits by distribution		4,701		4,184		3,541		3,269		16,480		15,695		(5	%)
Variable		4,581		3,938		3,341		3,174		15,671		15,034		(4	%)
Fixed MVA/other		120		246		200		95		809		661		(18	%)
Total sales/deposits by product		4,701		4,184		3,541		3,269		16,480		15,695		(5	%)
Retail Mutual Funds		1,942		1,409		1,258		1,255		4,771		5,864		23	%
529 College Savings Plan/Specialty Products/Other		100		86		79		105		232		370		59	%
Total Retail Products Group	$	6,743	$	5,679	$	4,878	$	4,629	$	21,483	$	21,929		2	%

L - 5b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

RETAIL PRODUCTS GROUP

SUPPLEMENTAL DATA — ASSETS UNDER MANAGEMENT

		March 31,		June 30,		Sept. 30,
		2005		2005		2005
INDIVIDUAL ANNUITY
	General account	$	18,327	$	17,852	$	17,324
	Non-guaranteed separate account		90,690		92,448		96,591
	Total Individual Annuity	$	109,017	$	110,300	$	113,915
BY PRODUCT
	Individual Annuity
	Individual Variable Annuities
	General account	$	7,494	$	7,415	$	7,120
	Non-guaranteed separate account		90,577		92,332		96,472
	Total individual variable annuities		98,071		99,747		103,592
	Fixed MVA & other individual annuities		10,946		10,553		10,323
	Total Individual Annuity		109,017		110,300		113,915
	Specialty Products/Other — Segregated Assets		216		243		286
	Mutual Fund Assets
	Retail mutual fund assets		24,949		25,958		27,522
	Specialty Product/Other mutual fund assets		185		218		293
	529 College Savings Plan assets		509		553		608
	Total Mutual Fund Assets		25,643		26,729		28,423
	Total Retail Products Group Assets Under Management	$	134,876	$	137,272	$	142,624

L - 6a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

RETAIL PRODUCTS GROUP

SUPPLEMENTAL DATA — ASSETS UNDER MANAGEMENT

		Dec. 31,		March 31,		June 30,		Sept. 30,		Dec. 31,
		2003		2004		2004		2004		2004
INDIVIDUAL ANNUITY
	General account	$	9,351	$	19,338	$	19,302	$	19,322	$	18,984
	Guaranteed separate account		10,239		—		—		—		—
	Non-guaranteed separate account		78,126		82,360		84,574		84,228		92,017
	Total Individual Annuity	$	97,716	$	101,698	$	103,876	$	103,550	$	111,001
BY PRODUCT
	Individual Annuity
	Individual Variable Annuities
	General account	$	8,487	$	8,137	$	8,038	$	7,958	$	7,715
	Non-guaranteed separate account		78,014		82,249		84,466		84,121		91,902
	Total individual variable annuities		86,501		90,386		92,504		92,079		99,617
	Fixed MVA & other individual annuities		11,215		11,312		11,372		11,471		11,384
	Total Individual Annuity		97,716		101,698		103,876		103,550		111,001
	Specialty Products/Other — Segregated Assets		48		72		103		135		182
	Mutual Fund Assets
	Retail mutual fund assets		20,301		21,888		22,734		22,694		25,240
	Specialty Product/Other mutual fund assets		109		121		127		144		164
	529 College Savings Plan assets		259		324		368		398		477
	Total Mutual Fund Assets		20,669		22,333		23,229		23,236		25,881
	Total Retail Products Group Assets Under Management	$	118,433	$	124,103	$	127,208	$	126,921	$	137,064

L - 6b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

RETAIL PRODUCTS GROUP

SUPPLEMENTAL DATA — OTHER RETAIL — ASSET ROLLFORWARD

		THREE MONTHS ENDED
		March 31,			June 30,			Sept. 30,
		2005			2005			2005
RETAIL MUTUAL FUNDS	Asset Rollforward
	Beginning balance	$	25,240		$	24,949		$	25,958
	Sales/Deposits		1,446			1,321			1,307
	Redemptions		(1,065	)		(999	)		(1,234	)
	Net Sales		381			322			73
	Change in market value		(652	)		705			1,509
	Other [1]		(20	)		(18	)		(18	)
	Ending balance	$	24,949		$	25,958		$	27,522

[1] Includes front end loads on A share products

L - 7a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

RETAIL PRODUCTS GROUP

SUPPLEMENTAL DATA — OTHER RETAIL — ASSET ROLLFORWARD

		THREE MONTHS ENDED
		March 31,			June 30,			Sept. 30,			Dec. 31,
		2004			2004			2004			2004
RETAIL MUTUAL FUNDS	Asset Rollforward
	Beginning balance	$	20,301		$	21,888		$	22,734		$	22,694
	Sales/Deposits		1,942			1,409			1,258			1,255
	Redemptions		(887	)		(785	)		(819	)		(868	)
	Net Sales		1,055			624			439			387
	Change in market value		557			245			(459	)		2,179
	Other [1]		(25	)		(23	)		(20	)		(20	)
	Ending balance	$	21,888		$	22,734		$	22,694		$	25,240

[1] Includes front end loads on A share products

L - 7b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
RETIREMENT PLANS
INCOME STATEMENTS

	THREE MONTHS ENDED									NINE MONTHS ENDED
	March 31,			June 30,			Sept. 30,			SEPTEMBER 30,
	2005			2005			2005			2004			2005			Change
Revenues
Premiums and other considerations
Variable annuity fees	$	32		$	34		$	36		$	80		$	102			28	%
Mutual fund and other fees		2			3			4			7			9			29	%
Total fee income		34			37			40			87			111			28	%
Direct premiums		3			4			1			6			8			33	%
Total premiums and other considerations		37			41			41			93			119			28	%
Net investment income
Net investment income on G/A assets		73			76			75			224			224			—
Net investment income on assigned capital		3			2			3			8			8			—
Charge for invested capital		—			(1	)		—			(2	)		(1	)		50	%
Total net investment income		76			77			78			230			231			—
Net realized capital gains (losses)		—			(1	)		(1	)		(2	)		(2	)		—
Total revenues		113			117			118			321			348			8	%
Benefits and Expenses
Benefits and claims
Death benefits		—			1			—			1			1			—
Other contract benefits		14			13			13			42			40			(5	%)
Change in reserve		(5	)		(4	)		(6	)		(18	)		(15	)		17	%
Sales inducements		—			—			—			—			—			—
Interest credited on G/A assets		47			49			50			138			146			6	%
Total benefits and claims		56			59			57			163			172			6	%
Other insurance expenses
Commissions & wholesaling expenses		17			14			15			35			46			31	%
Operating expenses		34			39			40			96			113			18	%
Premium taxes and other expenses		—			(1	)		1			(2	)		—			100	%
Subtotal — expenses before deferral		51			52			56			129			159			23	%
Deferred policy acquisition costs		(24	)		(23	)		(24	)		(63	)		(71	)		(13	%)
Total other insurance expense		27			29			32			66			88			33	%
Amortization of deferred policy acquisition costs		7			5			5			21			17			(19	%)
Total benefits and expenses		90			93			94			250			277			11	%
Income before income tax expense		23			24			24			71			71			—
Income tax expense		6			7			4			22			17			(23	%)
Net Income before cumulative effect of accounting change [1]		17			17			20			49			54			10	%
Cumulative effect of accounting change, net of tax		—			—			—			(1	)		—			100	%
Net income	$	17		$	17		$	20		$	48		$	54			13	%

[1] Net income before cumulative effect of accounting change is defined as core earnings.

L - 8a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
RETIREMENT PLANS
INCOME STATEMENTS

	THREE MONTHS ENDED												YEAR ENDED
	March 31,			June 30,			Sept. 30,			Dec. 31,			DECEMBER 31,
	2004			2004			2004			2004			2003			2004			Change
Revenues
Premiums and other considerations
Variable annuity fees	$	25		$	27		$	28		$	29		$	73		$	109			49	%
Other Fees		4			1			2			5			10			12			20	%
Total fee income		29			28			30			34			83			121			46	%
Direct premiums		1			4			1			4			15			10			(33	%)
Total premiums and other considerations		30			32			31			38			98			131			34	%
Net investment income
Net investment income on G/A assets		72			74			78			74			276			298			8	%
Net investment income on assigned capital		2			3			3			2			9			10			11	%
Charge for invested capital		(1	)		—			(1	)		—			(4	)		(2	)		50	%
Total net investment income		73			77			80			76			281			306			9	%
Net realized capital gains (losses)		(1	)		—			(1	)		(1	)		2			(3	)	NM
Total revenues		102			109			110			113			381			434			14	%
Benefits and Expenses
Benefits and claims
Death benefits		—			(1	)		2			(1	)		1			—			(100	%)
Other contract benefits		15			14			13			15			60			57			(5	%)
Change in reserve		(7	)		(5	)		(6	)		(5	)		(21	)		(23	)		(10	%)
Sales inducements		—			—			—			—			2			—			(100	%)
Interest credited on G/A assets		45			46			47			48			184			186			1	%
Total benefits and claims		53			54			56			57			226			220			(3	%)
Other insurance expenses
Commissions & wholesaling expenses		12			11			12			12			33			47			42	%
Operating expenses		30			31			35			44			123			140			14	%
Premium taxes and other expenses		1			—			(3	)		3			(2	)		1		NM
Subtotal — expenses before deferral		43			42			44			59			154			188			22	%
Deferred policy acquisition costs		(21	)		(20	)		(22	)		(29	)		(75	)		(92	)		(23	%)
Total other insurance expense		22			22			22			30			79			96			22	%
Amortization of deferred policy acquisition costs		7			7			7			8			18			29			61	%
Total benefits and expenses		82			83			85			95			323			345			7	%
Income before income tax expense		20			26			25			18			58			89			53	%
Income tax expense [1]		6			8			8			—			16			22			38	%
Net Income before cumulative effect of accounting changes [2]		14			18			17			18			42			67			60	%
Cumulative effect of accounting changes, net of tax		(1	)		—			—			—			—			(1	)		—
Net income	$	13		$	18		$	17		$	18		$	42		$	66			57	%

[1]	Included in the year ended December 31, 2003 is a tax benefit of $2, which primarily relates to the favorable tax treatment of certain tax items.
[2]	Net income before cumulative effect of accounting change is defined as core earnings.

L - 8b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
RETIREMENT PLANS
SUPPLEMENTAL DATA — SALES/DEPOSITS

	THREE MONTHS ENDED							NINE MONTHS ENDED
	March 31,		June 30,			Sept. 30,		SEPTEMBER 30,
	2005		2005			2005		2004		2005		Change
401K
Annuity — plan/participant rollovers	$	577	$	316		$	420	$	1,028	$	1,313		28	%
Annuity — ongoing contributions		317		301			317		684		935		37	%
Total 401K Annuity		894		617			737		1,712		2,248		31	%
Mutual funds		62		46			54		156		162		4	%
Total 401K		956		663			791		1,868		2,410		29	%
Governmental
Annuity — plan/participant rollovers		61		25			58		178		144		(19	%)
Annuity — ongoing contributions		243		234	��		263		736		740		1	%
Total Annuity		304		259			321		914		884		(3	%)
Mutual funds		14		8			41		26		63		142	%
Total Governmental		318		267			362		940		947		1	%
Total Retirement Plans	$	1,274	$	930		$	1,153	$	2,808	$	3,357		20	%

L - 9a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
RETIREMENT PLANS
SUPPLEMENTAL DATA — SALES/DEPOSITS

	THREE MONTHS ENDED								YEAR ENDED
	March 31,		June 30,		Sept. 30,		Dec. 31,		DECEMBER 31,
	2004		2004		2004		2004		2003		2004		Change
401K
Annuity — plan/participant rollovers	$	416	$	287	$	325	$	305	$	905	$	1,333		47	%
Annuity — ongoing contributions		234		218		232		246		652		930		43	%
Total 401K Annuity		650		505		557		551		1,557		2,263		45	%
Mutual funds		70		48		38		61		215		217		1	%
Total 401K		720		553		595		612		1,772		2,480		40	%
Governmental
Annuity — plan/participant rollovers		81		69		28		22		452		200		(56	%)
Annuity — ongoing contributions		276		235		225		177		860		913		6	%
Total Annuity		357		304		253		199		1,312		1,113		(15	%)
Mutual funds		10		8		8		34		33		60		82	%
Total Governmental		367		312		261		233		1,345		1,173		(13	%)
Total Retirement Plans	$	1,087	$	865	$	856	$	845	$	3,117	$	3,653		17	%

L - 9b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
RETIREMENT PLANS
SUPPLEMENTAL DATA — ASSETS UNDER MANAGEMENT

		March 31,		June 30,		Sept. 30,
		2005		2005		2005
401K
	General account	$	1,171	$	1,194	$	1,247
	Non-guaranteed separate account		5,893		6,344		7,056
	Total 401K	$	7,064	$	7,538	$	8,303
GOVERNMENTAL
	General account	$	4,121	$	4,201	$	4,284
	Non-guaranteed separate account		5,761		5,853		5,878
��	Total Governmental	$	9,882	$	10,054	$	10,162
TOTAL RETIREMENT
	General account	$	5,292	$	5,395	$	5,531
	Non-guaranteed separate account		11,654		12,197		12,934
	Total Retirement Plans account value	$	16,946	$	17,592	$	18,465
BY PRODUCT
	401K — Annuity	$	7,064	$	7,538	$	8,303
	Governmental — Annuity		9,882		10,054		10,162
	Total Retirement Plans account value		16,946		17,592		18,465
	Mutual Fund Assets
	401K mutual fund assets		767		808		872
	Governmental mutual fund assets		738		728		147
	Total Mutual Fund Assets		1,505		1,536		1,019
	Total Retirement Plans Assets Under Management	$	18,451	$	19,128	$	19,484

L - 10a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
RETIREMENT PLANS
SUPPLEMENTAL DATA — ASSETS UNDER MANAGEMENT

		Dec. 31,		March 31,		June 30,		Sept. 30,		Dec. 31,
		2003		2004		2004		2004		2004
401K
	General account	$	1,024	$	1,048	$	1,077	$	1,132	$	1,113
	Non-guaranteed separate account		3,582		4,110		4,408		4,659		5,418
	Total 401K	$	4,606	$	5,158	$	5,485	$	5,791	$	6,531
GOVERNMENTAL
	General account	$	3,819	$	3,831	$	3,907	$	3,994	$	4,048
	Non-guaranteed separate account		5,146		5,412		5,538		5,443		5,914
	Total Governmental	$	8,965	$	9,243	$	9,445	$	9,437	$	9,962
TOTAL RETIREMENT
	General account	$	4,843	$	4,879	$	4,984	$	5,126	$	5,161
	Non-guaranteed separate account		8,728		9,522		9,946		10,102		11,332
	Total Retirement Plans account value	$	13,571	$	14,401	$	14,930	$	15,228	$	16,493
BY PRODUCT
	401K — Annuity	$	4,606	$	5,158	$	5,485	$	5,791	$	6,531
	Governmental — Annuity		8,965		9,243		9,445		9,437		9,962
	Total Retirement Plans account value		13,571		14,401		14,930		15,228		16,493
	Mutual Fund Assets
	401K mutual fund assets		585		644		668		662		755
	Governmental mutual fund assets		770		762		764		731		756
	Total Mutual Fund Assets		1,355		1,406		1,432		1,393		1,511
	Total Retirement Plans Assets Under Management	$	14,926	$	15,807	$	16,362	$	16,621	$	18,004

L - 10b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
RETIREMENT PLANS
SUPPLEMENTAL DATA — ACCOUNT VALUE ROLLFORWARD [1]

		THREE MONTHS ENDED
		March 31,			June 30,			Sept. 30,
		2005			2005			2005
401K	Account Value Rollforward
(EXCLUDING ALL MUTUAL FUNDS)	Beginning balance	$	6,531		$	7,064		$	7,538
	Sales/Deposits		894			617			737
	Surrenders		(253	)		(271	)		(268	)
	Death benefits/annuity payouts		(5	)		(4	)		(6	)
	Net Flows		636			342			463
	Change in market value/change in reserve/interest credited		(103	)		132			302
	Ending balance	$	7,064		$	7,538		$	8,303
GOVERNMENTAL	Account Value Rollforward
(EXCLUDING ALL MUTUAL FUNDS)	Beginning balance	$	9,962		$	9,882		$	10,054
	Sales/Deposits		304			259			321
	Surrenders		(250	)		(234	)		(570	)
	Death benefits/annuity payouts		(13	)		(18	)		(14	)
	Net Flows		41			7			(263	)
	Change in market value/change in reserve/interest credited		(121	)		165			371
	Ending balance	$	9,882		$	10,054		$	10,162

[1] Account value includes policyholder balances for investment contracts and reserves for future policy benefits for insurance contracts.

L - 11a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
RETIREMENT PLANS
SUPPLEMENTAL DATA — ACCOUNT VALUE ROLLFORWARD [1]

		THREE MONTHS ENDED
		March 31,			June 30,			Sept. 30,			Dec. 31,
		2004			2004			2004			2004
401K	Account Value Rollforward
(EXCLUDING ALL MUTUAL FUNDS)	Beginning balance	$	4,606		$	5,158		$	5,485		$	5,791
	Sales/Deposits		650			505			557			551
	Surrenders		(201	)		(196	)		(206	)		(238	)
	Death benefits/annuity payouts		(3	)		(4	)		(4	)		(5	)
	Net Flows		446			305			347			308
	Change in market value/change in reserve/interest credited		106			22			(41	)		432
	Ending balance	$	5,158		$	5,485		$	5,791		$	6,531
GOVERNMENTAL	Account Value Rollforward
(EXCLUDING ALL MUTUAL FUNDS)	Beginning balance	$	8,965		$	9,243		$	9,445		$	9,437
	Sales/Deposits		357			304			253			199
	Surrenders		(239	)		(185	)		(169	)		(233	)
	Death benefits/annuity payouts		(14	)		(13	)		(14	)		(16	)
	Net Flows		104			106			70			(50	)
	Change in market value/change in reserve/interest credited		174			96			(78	)		575
	Ending balance	$	9,243		$	9,445		$	9,437		$	9,962

[1] Account value includes policyholder balances for investment contracts and reserves for future policy benefits for insurance contracts.

L - 11b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
INSTITUTIONAL SOLUTIONS GROUP
INCOME STATEMENTS

	THREE MONTHS ENDED									NINE MONTHS ENDED
	March 31,			June 30,			Sept. 30,			SEPTEMBER 30,
	2005			2005			2005			2004			2005			Change
Revenues
Premiums and other considerations
Variable annuity fees	$	14		$	13		$	15		$	40		$	42			5	%
Cost of insurance charges		21			13			6			67			40			(40	%)
Mutual fund and other fees		2			7			5			10			14			40	%
Total fee income		37			33			26			117			96			(18	%)
Direct premiums		82			115			126			299			323			8	%
Total premiums and other considerations		119			148			152			416			419			1	%
Net investment income
Net investment income on G/A assets		176			187			203			471			566			20	%
Net investment income on assigned capital		5			5			5			14			15			7	%
Charge for invested capital		—			1			(1	)		4			—			(100	%)
Total net investment income		181			193			207			489			581			19	%
Net realized capital gains (losses)		(1	)		(1	)		(1	)		2			(3	)	NM
Total revenues		299			340			358			907			997			10	%
Benefits and Expenses
Benefits and claims
Death benefits		23			13			5			69			41			(41	%)
Other contract benefits		73			71			75			210			219			4	%
Change in reserve		75			112			121			283			308			9	%
Interest credited on G/A assets		83			91			99			219			273			25	%
Total benefits and claims		254			287			300			781			841			8	%
		��
Other insurance expenses
Commissions & wholesaling expenses		8			10			12			21			30			43	%
Operating expenses		14			14			16			42			44			5	%
Premium taxes and other expenses		2			5			4			10			11			10	%
Subtotal — expenses before deferral		24			29			32			73			85			16	%
Deferred policy acquisition costs		(14	)		(12	)		(17	)		(35	)		(43	)		(23	%)
Total other insurance expense		10			17			15			38			42			11	%
Amortization of deferred policy acquisition costs		6			8			9			19			23			21	%
Total benefits and expenses		270			312			324			838			906			8	%
Income before income tax expense		29			28			34			69			91			32	%
Income tax expense		8			7			10			19			25			32	%
Net income [1]	$	21		$	21		$	24		$	50		$	66			32	%

[1] Net income is defined as core earnings.

L - 12a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
INSTITUTIONAL SOLUTIONS GROUP
INCOME STATEMENTS

	THREE MONTHS ENDED												YEAR ENDED
	March 31,			June 30,			Sept. 30,			Dec. 31,			DECEMBER 31,
	2004			2004			2004			2004			2003			2004			Change
Revenues
Premiums and other considerations
Variable annuity fees	$	15		$	12		$	13		$	14		$	55		$	54			(2	%)
Cost of insurance charges		21			23			23			24			84			91			8	%
Mutual fund and other fees		3			2			5			6			6			16			167	%
Total fee income		39			37			41			44			145			161			11	%
Net guaranteed separate account income		—			—			—			—			9			—			(100	%)
Direct premiums		108			92			99			164			783			463			(41	%)
Total premiums and other considerations		147			129			140			208			937			624			(33	%)
Net investment income
Net investment income on G/A assets		152			158			161			169			555			640			15	%
Net investment income on assigned capital		5			4			5			5			19			19			—
Charge for invested capital		2			1			1			1			7			5			(29	%)
Total net investment income		159			163			167			175			581			664			14	%
Net realized capital gains (losses)		1			—			1			1			4			3			(25	%)
Total revenues		307			292			308			384			1,522			1,291			(15	%)
Benefits and Expenses
Benefits and claims
Death benefits		21			24			24			23			86			92			7	%
Other contract benefits		68			68			74			69			231			279			21	%
Change in reserve		104			90			89			162			774			445			(43	%)
Interest credited on G/A assets		71			73			75			81			253			300			19	%
Total benefits and claims		264			255			262			335			1,344			1,116			(17	%)
Other insurance expenses
Commissions & wholesaling expenses		7			8			6			11			34			32			(6	%)
Operating expenses		15			13			14			15			54			57			6	%
Premium taxes and other expenses		3			2			5			5			65			15			(77	%)
Subtotal — expenses before deferral		25			23			25			31			153			104			(32	%)
Deferred policy acquisition costs		(12	)		(12	)		(11	)		(14	)		(44	)		(49	)		(11	%)
Total other insurance expense		13			11			14			17			109			55			(50	%)
Amortization of deferred policy acquisition costs		7			6			6			7			28			26			(7	%)
Total benefits and expenses		284			272			282			359			1,481			1,197			(19	%)
Income before income tax expense		23			20			26			25			41			94			129	%
Income tax expense		6			6			7			7			9			26			189	%
Net income [1]	$	17		$	14		$	19		$	18		$	32		$	68			113	%

[1] Net income is defined as core earnings.

L - 12b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

INSTITUTIONAL SOLUTIONS GROUP

SUPPLEMENTAL DATA — SALES/DEPOSITS

	THREE MONTHS ENDED						NINE MONTHS ENDED
	March 31,		June 30,		Sept. 30,		SEPTEMBER 30,
	2005		2005		2005		2004		2005		Change
Institutional
Structured settlements	$	138	$	163	$	187	$	539	$	488		(9	%)
Institutional annuities		16		6		9		40		31		(23	%)
GIC/Funding agreements/registered notes		907		338		1,099		883		2,344		165	%
Other		—		204		7		324		211		(35	%)
Subtotal		1,061		711		1,302		1,786		3,074		72	%
Mutual funds		190		307		134		216		631		192	%
Total Institutional		1,251		1,018		1,436		2,002		3,705		85	%
Private Placement Life Insurance
Corporate owned		65		169		241		424		475		12	%
High net worth		44		11		4		69		59		(14	%)
Total Private Placement Life Insurance		109		180		245		493		534		8	%
Total Institutional Solutions Group	$	1,360	$	1,198	$	1,681	$	2,495	$	4,239		70	%

L-13a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

INSTITUTIONAL SOLUTIONS GROUP

SUPPLEMENTAL DATA — SALES/DEPOSITS

	THREE MONTHS ENDED								YEAR ENDED
	March 31,		June 30,		Sept. 30,		Dec. 31,		DECEMBER 31,
	2004		2004		2004		2004		2003		2004		Change
Institutional
Structured settlements	$	203	$	180	$	156	$	172	$	609	$	711		17	%
Institutional annuities		7		11		22		78		430		118		(73	%)
GIC/Funding agreements/registered notes		18		319		546		613		1,581		1,496		(5	%)
Other		4		316		4		6		324		330		2	%
Subtotal		232		826		728		869		2,944		2,655		(10	%)
Mutual funds		96		38		82		62		339		278		(18	%)
Total Institutional		328		864		810		931		3,283		2,933		(11	%)
Private Placement Life Insurance
Corporate owned		162		131		131		257		185		681	NM
High net worth		48		16		5		8		127		77		(39	%)
Total Private Placement Life Insurance		210		147		136		265		312		758		143	%
Total Institutional Solutions Group	$	538	$	1,011	$	946	$	1,196	$	3,595	$	3,691		3	%

L-13b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

INSTITUTIONAL SOLUTIONS GROUP

SUPPLEMENTAL DATA — ASSETS UNDER MANAGEMENT

	March 31,		June 30,		Sept. 30,
	2005		2005		2005
INSTITUTIONAL
General account	$	12,319	$	12,590	$	13,680
Guaranteed separate account		353		373		358
Non-guaranteed separate account		2,825		3,113		3,136
Total Institutional	$	15,497	$	16,076	$	17,174
PRIVATE PLACEMENT LIFE INSURANCE
General account	$	10	$	10	$	10
Non-guaranteed separate account		22,631		23,047		23,528
Total Private Placement Life Insurance	$	22,641	$	23,057	$	23,538
TOTAL INSTITUTIONAL SOLUTIONS GROUP
General account	$	12,329	$	12,600	$	13,690
Guaranteed separate account		353		373		358
Non-guaranteed separate account		25,456		26,160		26,664
Total Institutional Solutions Group account value	$	38,138	$	39,133	$	40,712
BY PRODUCT
Institutional
Structured settlements	$	4,145	$	4,307	$	4,492
Institutional annuities		2,488		2,504		2,491
GIC/Funding agreements/registered notes		6,139		6,254		7,163
Other		2,725		3,011		3,028
Total Institutional		15,497		16,076		17,174
Private Placement Life Insurance		22,641		23,057		23,538
Total Institutional Solutions Group account value		38,138		39,133		40,712
Institutional Mutual Fund Assets		815		1,146		1,324
Total Institutional Solutions Group Assets Under Management	$	38,953	$	40,279	$	42,036

L-14a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

INSTITUTIONAL SOLUTIONS GROUP

SUPPLEMENTAL DATA — ASSETS UNDER MANAGEMENT

	Dec. 31,		March 31,		June 30,		Sept. 30,		Dec. 31,
	2003		2004		2004		2004		2004
INSTITUTIONAL
General account	$	9,912	$	10,135	$	10,318	$	10,919	$	11,337
Guaranteed separate account		343		357		335		352		355
Non-guaranteed separate account		2,405		2,449		2,724		2,740		2,907
Total Institutional	$	12,660	$	12,941	$	13,377	$	14,011	$	14,599
PRIVATE PLACEMENT LIFE INSURANCE
General account	$	17	$	18	$	19	$	19	$	14
Non-guaranteed separate account		20,975		21,287		21,573		21,870		22,484
Total Private Placement Life Insurance	$	20,992	$	21,305	$	21,592	$	21,889	$	22,498
TOTAL INSTITUTIONAL SOLUTIONS GROUP
General account	$	9,929	$	10,153	$	10,337	$	10,938	$	11,351
Guaranteed separate account		343		357		335		352		355
Non-guaranteed separate account		23,380		23,736		24,297		24,610		25,391
Total Institutional Solutions Group account value	$	33,652	$	34,246	$	34,969	$	35,900	$	37,097
BY PRODUCT
Institutional
Structured settlements	$	3,285	$	3,492	$	3,673	$	3,828	$	4,006
Institutional annuities		2,395		2,418		2,397		2,418		2,492
GIC/Funding agreements/registered notes		4,677		4,686		4,690		5,129		5,297
Other		2,303		2,345		2,617		2,636		2,804
Total Institutional		12,660		12,941		13,377		14,011		14,599
Private Placement Life Insurance		20,992		21,305		21,592		21,889		22,498
Total Institutional Solutions Group account value		33,652		34,246		34,969		35,900		37,097
Institutional Mutual Fund Assets		438		484		508		569		676
Total Institutional Solutions Group Assets Under Management	$	34,090	$	34,730	$	35,477	$	36,469	$	37,773

L-14b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

INSTITUTIONAL SOLUTIONS GROUP

SUPPLEMENTAL DATA — ACCOUNT VALUE AND ASSET ROLLFORWARD [1]

		THREE MONTHS ENDED
		March 31,			June 30,			Sept. 30,
		2005			2005			2005
INSTITUTIONAL	Account Value Rollforward
(EXCLUDING ALL MUTUAL FUNDS)	Beginning balance	$	14,599		$	15,497		$	16,076
	Sales/Deposits		1,061			711			1,302
	Surrenders		(155	)		(323	)		(296	)
	Death benefits/annuity payouts		(114	)		(118	)		(119	)
	Net Flows		792			270			887
	Change in market value/change in reserve/interest credited		106			309			211
	Ending balance	$	15,497		$	16,076		$	17,174
PRIVATE PLACEMENT LIFE INSURANCE	Account Value Rollforward
	Beginning balance	$	22,498		$	22,641		$	23,057
	Sales/Deposits		109			180			245
	Surrenders		(48	)		(2	)		(16	)
	Death benefits/annuity payouts		(10	)		(9	)		(17	)
	Net Flows		51			169			212
	Change in market value/change in reserve/interest credited		144			301			311
	Other [2]		(52	)		(54	)		(42	)
	Ending balance	$	22,641		$	23,057		$	23,538

[1]	Account value includes policyholder balances for investment contracts and reserves for future policy benefits for insurance contracts.
[2]	Primarily consists of cost of insurance and M&E charges.

L-15a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

INSTITUTIONAL SOLUTIONS GROUP

SUPPLEMENTAL DATA — ACCOUNT VALUE AND ASSET ROLLFORWARD [1]

		THREE MONTHS ENDED
		March 31,			June 30,			Sept. 30,			Dec. 31,
		2004			2004			2004			2004
INSTITUTIONAL	Account Value Rollforward
(EXCLUDING ALL MUTUAL FUNDS)	Beginning balance	$	12,660		$	12,941		$	13,377		$	14,011
	Sales/Deposits		232			826			728			869
	Surrenders		(88	)		(402	)		(197	)		(537	)
	Death benefits/annuity payouts		(99	)		(101	)		(104	)		(103	)
	Net Flows		45			323			427			229
	Change in market value/change in reserve/interest credited		236			113			207			359
	Ending balance	$	12,941		$	13,377		$	14,011		$	14,599
PRIVATE PLACEMENT LIFE INSURANCE	Account Value Rollforward
	Beginning balance	$	20,992		$	21,305		$	21,592		$	21,889
	Sales/Deposits		210			147			136			265
	Surrenders		(13	)		(5	)		(3	)		(26	)
	Death benefits/annuity payouts		(13	)		(7	)		(18	)		(15	)
	Net Flows		184			135			115			224
	Change in market value/change in reserve/interest credited		199			230			228			410
	Other [2]		(70	)		(78	)		(46	)		(25	)
	Ending balance	$	21,305		$	21,592		$	21,889		$	22,498

[1]	Account value includes policyholder balances for investment contracts and reserves for future policy benefits for insurance contracts.
[2]	Primarily consists of cost of insurance and M&E charges.

L-15b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

INDIVIDUAL LIFE

INCOME STATEMENTS

	THREE MONTHS ENDED									NINE MONTHS ENDED
	March 31,			June 30,			Sept. 30,			SEPTEMBER 30,
	2005			2005			2005			2004			2005			Change
Revenues
Premiums and other considerations
Variable life fees	$	14		$	15		$	15		$	38		$	44			16	%
Cost of insurance charges		114			116			118			333			348			5	%
Other fees		67			60			74			186			201			8	%
Total fee income		195			191			207			557			593			6	%
Direct premiums		19			19			21			51			59			16	%
Reinsurance premiums		(27	)		(26	)		(29	)		(67	)		(82	)		(22	%)
Net premiums		(8	)		(7	)		(8	)		(16	)		(23	)		(44	%)
Total premiums and other considerations		187			184			199			541			570			5	%
Net investment income
Net investment income on G/A assets		80			81			83			247			244			(1	%)
Net investment income on assigned capital		3			3			3			10			9			(10	%)
Charge for invested capital		(9	)		(9	)		(9	)		(29	)		(27	)		7	%
Total net investment income		74			75			77			228			226			(1	%)
Net realized capital gains (losses)		—			—			1			3			1			(67	%)
Total revenues		261			259			277			772			797			3	%
Benefits and Expenses
Benefits and claims
Death benefits		66			63			54			188			183			(3	%)
Other contract benefits		4			6			5			16			15			(6	%)
Change in reserve		(5	)		(4	)		(4	)		(3	)		(13	)	NM
Interest credited on G/A assets		55			55			57			159			167			5	%
Total benefits and claims		120			120			112			360			352			(2	%)
Other insurance expenses
Commissions & wholesaling expenses		52			47			58			137			157			15	%
Operating expenses		52			56			57			150			165			10	%
Dividends to policyholders		1			—			1			2			2			—
Premium taxes and other expenses		9			10			8			25			27			8	%
Subtotal — expenses before deferral		114			113			124			314			351			12	%
Deferred policy acquisition costs		(74	)		(71	)		(81	)		(194	)		(226	)		(16	%)
Total other insurance expense		40			42			43			120			125			4	%
Amortization of deferred policy acquisition costs and present value of future profits		44			40			58			123			142			15	%
Total benefits and expenses		204			202			213			603			619			3	%
Income before income tax expense		57			57			64			169			178			5	%
Income tax expense		18			18			19			53			55			4	%
Net Income before cumulative effect of accounting changes [1]		39			39			45			116			123			6	%
Cumulative effect of accounting change, net of tax		—			—			—			(1	)		—			100	%
Net income	$	39		$	39		$	45		$	115		$	123			7	%

[1] Net income before cumulative effect of accounting change is defined as core earnings.

L-16a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

INDIVIDUAL LIFE

INCOME STATEMENTS

	THREE MONTHS ENDED												YEAR ENDED
	March 31,			June 30,			Sept. 30,			Dec. 31,			DECEMBER 31,
	2004			2004			2004			2004			2003			2004			Change
Revenues
Premiums and other considerations
Variable life fees	$	12		$	13		$	13		$	15		$	44		$	53			20	%
Cost of insurance charges		110			110			113			113			431			446			3	%
Other fees		64			58			64			82			264			268			2	%
Total fee income		186			181			190			210			739			767			4	%
Net guaranteed separate account income		—			—			—			—			8			—			(100	%)
Direct premiums		17			17			17			20			61			71			16	%
Reinsurance premiums		(22	)		(22	)		(23	)		(25	)		(81	)		(92	)		(14	%)
Net premiums		(5	)		(5	)		(6	)		(5	)		(20	)		(21	)		(5	%)
Total premiums and other considerations		181			176			184			205			727			746			3	%
Net investment income
Net investment income on G/A assets		81			82			84			82			289			329			14	%
Net investment income on assigned capital		3			4			3			3			15			13			(13	%)
Charge for invested capital		(10	)		(10	)		(9	)		(10	)		(41	)		(39	)		5	%
Total net investment income		74			76			78			75			263			303			15	%
Net realized capital gains (losses)		—			1			2			—			(3	)		3		NM
Total revenues		255			253			264			280			987			1,052			7	%
Benefits and Expenses
Benefits and claims
Death benefits		67			61			60			57			224			245			9	%
Other contract benefits		5			6			5			6			23			22			(4	%)
Change in reserve		—			—			(3	)		—			(3	)		(3	)		—
Interest credited on G/A assets		53			53			53			57			192			216			13	%
Total benefits and claims		125			120			115			120			436			480			10	%
Other insurance expenses
Commissions & wholesaling expenses		44			46			47			63			168			200			19	%
Operating expenses		48			50			52			62			193			212			10	%
Dividends to policyholders		1			—			1			—			3			2			(33	%)
Premium taxes and other expenses		8			9			8			8			30			33			10	%
Subtotal — expenses before deferral		101			105			108			133			394			447			13	%
Deferred policy acquisition costs		(61	)		(66	)		(67	)		(89	)		(233	)		(283	)		(21	%)
Total other insurance expense		40			39			41			44			161			164			2	%
Amortization of deferred policy acquisition costs and present value of future profits		39			41			43			58			181			181			—
Total benefits and expenses		204			200			199			222			778			825			6	%
Income before income tax expense		51			53			65			58			209			227			9	%
Income tax expense [1]		17			16			20			18			64			71			11	%
Net Income before cumulative effect of accounting changes [2]		34			37			45			40			145			156			8	%
Cumulative effect of accounting change, net of tax		(1	)		—			—			—			—			(1	)		—
Net income	$	33		$	37		$	45		$	40		$	145		$	155			7	%

[1]	Included in the year ended December 31, 2003 is a tax benefit of $2, which primarily relates to the favorable tax treatment of certain tax items.
[2]	Net income before cumulative effect of accounting change is defined as core earnings.

L-16b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

GROUP BENEFITS

INCOME STATEMENTS

	THREE MONTHS ENDED									NINE MONTHS ENDED
	March 31,			June 30,			Sept. 30,			SEPTEMBER 30,
	2005			2005			2005			2004			2005			Change
Revenues
Premiums and other considerations
ASO fees	$	11		$	7		$	9		$	26		$	27			4	%
Other fees		—			1			—			2			1			(50	%)
Total fee income		11			8			9			28			28			—
Direct premiums		824			848			853			2,192			2,525			15	%
Reinsurance premiums		113			92			88			515			293			(43	%)
Total premiums and other considerations		948			948			950			2,735			2,846			4	%
Net investment income
Net investment income on G/A assets		86			87			87			237			260			10	%
Net investment income on assigned capital		12			13			12			38			37			(3	%)
Total net investment income		98			100			99			275			297			8	%
Net realized capital gains (losses)		—			—			—			2			—			(100	%)
Total revenues		1,046			1,048			1,049			3,012			3,143			4	%
Benefits and Expenses
Benefits and claims
Death benefits		239			238			227			708			704			(1	%)
Other contract benefits		414			416			423			1,177			1,253			6	%
Change in reserve		69			42			38			160			149			(7	%)
Total benefits and claims		722			696			688			2,045			2,106			3	%
Other insurance expenses
Commissions & wholesaling expenses		119			122			128			369			369			—
Operating expenses		114			129			129			334			372			11	%
Premium taxes and other expenses		16			18			15			52			49			(6	%)
Subtotal — expenses before deferral		249			269			272			755			790			5	%
Deferred policy acquisition costs		(12	)		(12	)		(14	)		(29	)		(38	)		(31	%)
Total other insurance expense		237			257			258			726			752			4	%
Amortization of deferred policy acquisition costs		7			7			8			18			22			22	%
Total benefits and expenses		966			960			954			2,789			2,880			3	%
Income before income tax expense		80			88			95			223			263			18	%
Income tax expense		21			24			27			59			72			22	%
Net income [1]	$	59		$	64		$	68		$	164		$	191			16	%

[1] Net income is defined as core earnings.

L-17a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE

GROUP BENEFITS

INCOME STATEMENTS

	THREE MONTHS ENDED												YEAR ENDED
	March 31,			June 30,			Sept. 30,			Dec. 31,			DECEMBER 31,
	2004			2004			2004			2004			2003			2004			Change
Revenues
Premiums and other considerations
ASO fees	$	9		$	8		$	9		$	9		$	19		$	35			84	%
Other fees		1			1			—			—			1			2			100	%
Total fee income		10			9			9			9			20			37			85	%
Direct premiums		726			720			746			745			2,298			2,937			28	%
Reinsurance premiums		179			177			159			163			44			678		NM
Total premiums and other considerations		915			906			914			917			2,362			3,652			55	%
Net investment income
Net investment income on G/A assets		77			79			81			85			223			322			44	%
Net investment income on assigned capital		12			13			13			13			39			51			31	%
Total net investment income		89			92			94			98			262			373			42	%
Net realized capital gains (losses)		(1	)		3			—			—			—			2			—
Total revenues		1,003			1,001			1,008			1,015			2,624			4,027			53	%
Benefits and Expenses
Benefits and claims
Death benefits		259			232			217			211			664			919			38	%
Other contract benefits		387			396			394			397			1,025			1,574			54	%
Change in reserve		38			62			60			50			173			210			21	%
Total benefits and claims		684			690			671			658			1,862			2,703			45	%
Other insurance expenses
Commissions & wholesaling expenses		129			123			117			132			234			501			114	%
Operating expenses		113			109			112			129			297			463			56	%
Premium taxes and other expenses		19			17			16			17			45			69			53	%
Subtotal — expenses before deferral		261			249			245			278			576			1,033			79	%
Deferred policy acquisition costs		(9	)		(9	)		(11	)		(15	)		(23	)		(44	)		(91	%)
Total other insurance expense		252			240			234			263			553			989			79	%
Amortization of deferred policy acquisition costs		5			6			7			5			18			23			28	%
Total benefits and expenses		941			936			912			926			2,433			3,715			53	%
Income before income tax expense		62			65			96			89			191			312			63	%
Income tax expense		16			16			27			24			43			83			93	%
Net income [1]	$	46		$	49		$	69		$	65		$	148		$	229			55	%

[1] Net income is defined as core earnings.

L-17b

THE HARTFORD FINANCIAL SERVICES GROUP
LIFE
INTERNATIONAL
HIGHLIGHTS

		THREE MONTHS ENDED									NINE MONTHS ENDED
		March 31,			June 30,			Sept. 30,			SEPTEMBER 30,
		2005			2005			2005			2004			2005			Change
CORE EARNINGS
	Japan operations	$	17		$	26		$	33		$	31		$	76			145	%
	Other international operations		(3	)		(5	)		(5	)		6			(13	)	NM
	Core earnings		14			21			28			37			63			70	%
	Cumulative effect of accounting change, net of tax		—			—			—			(4	)		—			(100	%)
	Net income	$	14		$	21		$	28		$	33		$	63			91	%
JAPAN SALES — Dollars
Individual Annuity
	Variable	$	3,072		$	2,494		$	2,809		$	5,321		$	8,375			57	%
	Fixed MVA		688			222			158			9			1,068		NM
	Total sales by product	$	3,760		$	2,716		$	2,967		$	5,330		$	9,443			77	%
JAPAN SALES — Yen
Individual Annuity
	Variable	¥	321,911		¥	267,333		¥	312,311		¥	578,936		¥	901,555			56	%
	Fixed MVA		72,017			23,795			17,619			1,005			113,431		NM
	Total sales by product	¥	393,928		¥	291,128		¥	329,930		¥	579,941		¥	1,014,986			75	%
NET FLOWS — Dollars
Individual Annuity
	Variable	$	2,892		$	2,365		$	2,558		$	4,910		$	7,815			59	%
	Fixed MVA		651			203			146			9			1,000		NM
	Total net flows by product	$	3,543		$	2,568		$	2,704		$	4,919		$	8,815			79	%
NET FLOWS — Yen
Individual Annuity
	Variable	¥	302,976		¥	253,416		¥	284,656		¥	534,436		¥	841,048			57	%
	Fixed MVA		68,072			21,811			16,198			954			106,081		NM
	Total net flows by product	¥	371,048		¥	275,227		¥	300,854		¥	535,390		¥	947,129			77	%
JAPAN AUM — Dollars
Individual Annuity
	Variable	$	16,495		$	18,440		$	21,892
	Fixed MVA		1,120			1,286			1,407
	Total AUM by product	$	17,615		$	19,726		$	23,299
JAPAN AUM — Yen
Individual Annuity
	Variable	¥	1,767,250		¥	2,042,998		¥	2,481,209
	Fixed MVA		120,011			142,472			159,391
	Total AUM by product	¥	1,887,261		¥	2,185,470		¥	2,640,600

L - 18a

THE HARTFORD FINANCIAL SERVICES GROUP
LIFE
INTERNATIONAL
HIGHLIGHTS

		THREE MONTHS ENDED										YEAR ENDED
		March 31,			June 30,		Sept. 30,		Dec. 30,			DECEMBER 31,
		2004			2004		2004		2004			2003		2004			Change
CORE EARNINGS
	Japan operations	$	8		$	11	$	12	$	9		$	7	$	40		NM
	Other international operations		2			—		4		(3	)		6		3			(50	%)
	Core earnings		10			11		16		6			13		43		NM
	Cumulative effect of accounting change, net of tax		(4	)		—		—		—			—		(4	)		—
	Net income	$	6		$	11	$	16	$	6		$	13	$	39		NM
JAPAN SALES — Dollars
Individual Annuity
	Variable	$	1,436		$	1,599	$	2,286	$	1,943		$	3,735	$	7,264			94	%
	Fixed MVA		—			—		9		512			—		521			—
	Total sales by product	$	1,436		$	1,599	$	2,295	$	2,455		$	3,735	$	7,785			108	%
JAPAN SALES — Yen
Individual Annuity
	Variable	¥	153,402		¥	174,231	¥	251,303	¥	203,251		¥	430,511	¥	782,187			82	%
	Fixed MVA		—			—		1,005		53,299			—		54,304			—
��	Total sales by product	¥	153,402		¥	174,231	¥	252,308	¥	256,550		¥	430,511	¥	836,491			94	%
NET FLOWS — Dollars
Individual Annuity
	Variable	$	1,285		$	1,452	$	2,173	$	1,844		$	3,490	$	6754			94	%
	Fixed MVA		—			—		9		486			—		495			—
	Total net flows by product	$	1,285		$	1,452	$	2,182	$	2,330		$	3,490	$	7,249			108	%
NET FLOWS — Yen
Individual Annuity
	Variable	¥	137,227		¥	158,274	¥	238,935	¥	192,866		¥	402,623	¥	727,302			81	%
	Fixed MVA		—			—		954		50,601			—		51,555			—
	Total net flows by product	¥	137,227		¥	158,274	¥	239,889	¥	243,467		¥	402,623	¥	778,857			93	%
JAPAN AUM — Dollars
Individual Annuity
	Variable	$	8,119		$	9,277	$	11,118	$	14,129		$	6,220
	Fixed MVA		—			—		9		502			—
	Total AUM by product	$	8,119		$	9,277	$	11,127	$	14,631		$	6,220
JAPAN AUM — Yen
Individual Annuity
	Variable	¥	846,172		¥	1,009,074	¥	1,223,484	¥	1,450,025		¥	666,878
	Fixed MVA		—			—		951		51,503			—
	Total AUM by product	¥	846,172		¥	1,009,074	¥	1,224,435	¥	1,501,528		¥	666,878

L - 18b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
INTERNATIONAL — JAPAN
INCOME STATEMENTS

	THREE MONTHS ENDED									NINE MONTHS ENDED
	March 31,			June 30,			Sept. 30,			SEPTEMBER 30,
	2005			2005			2005			2004			2005			Change
Revenues
Premiums and other considerations
Variable annuity fees	$	86		$	102		$	118		$	146		$	306			110	%
Other Fees		11			1			12			18			24			33	%
Total fee income		97			103			130			164			330			101	%
Net investment income
Net investment income on G/A assets		9			16			16			—			41			—
Total net investment income		9			16			16			—			41			—
Net realized capital gains (losses)		(5	)		(10	)		(8	)		—			(23	)		—
Total revenues		101			109			138			164			348			112	%
Benefits and Expenses
Benefits and claims
Death and other benefits		10			4			9			14			23			64	%
Change in reserve		—			—			—			—			—			—
Interest credited on G/A assets		3			4			3			—			10			—
Total benefits and claims		13			8			12			14			33			136	%
Other insurance expenses
Commissions & wholesaling expenses		204			156			173			320			533			67	%
Operating expenses		31			32			33			61			96			57	%
Premium taxes and other expenses		14			10			12			20			36			80	%
Subtotal — expenses before deferral		249			198			218			401			665			66	%
Deferred policy acquisition costs		(220	)		(169	)		(185	)		(347	)		(574	)		(65	%)
Total other insurance expense		29			29			33			54			91			69	%
Amortization of deferred policy acquisition costs		32			30			43			48			105			119	%
Total benefits and expenses		74			67			88			116			229			97	%
Income before income tax expense		27			42			50			48			119			148	%
Income tax expense		10			16			17			17			43			153	%
Net Income before cumulative effect of accounting change [1]		17			26			33			31			76			145	%
Cumulative effect of accounting changes, net of tax		—			—			—			(4	)		—			100	%
Net income	$	17		$	26		$	33		$	27		$	76			181	%

[1] Net income before cumulative effect of accounting change is defined as core earnings.

L - 19a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
INTERNATIONAL — JAPAN
INCOME STATEMENTS

	THREE MONTHS ENDED												YEAR ENDED
	March 31,			June 30,			Sept. 30,			Dec. 31,			DECEMBER 31,
	2004			2004			2004			2004			2003			2004			Change
Revenues
Premiums and other considerations
Variable annuity fees	$	39		$	48		$	59		$	73		$	78		$	219			181	%
Other Fees		7			7			4			3			12			21			75	%
Total fee income		46			55			63			76			90			240			167	%
Net investment income																				—
Net investment income on G/A assets		—			—			—			—			—			—			—
Total net investment income		—			—			—			—			—			—			—
Net realized capital gains (losses)		—			—			—			(1	)		—			(1	)		—
Total revenues		46			55			63			75			90			239			166	%
Benefits and Expenses
Benefits and claims
Death and other benefits		—			8			6			7			3			21		NM
Change in reserve		4			(4	)		—			—			(2	)		—			100	%
Interest credited on G/A assets		—			—			—			(1	)		—			(1	)		—
Total benefits and claims		4			4			6			6			1			20		NM
Other insurance expenses
Commissions & wholesaling expenses		83			97			140			133			218			453			108	%
Operating expenses		18			20			23			35			57			96			68	%
Premium taxes and other expenses		5			6			9			9			12			29			142	%
Subtotal — expenses before deferral		106			123			172			177			287			578			101	%
Deferred policy acquisition costs		(90	)		(106	)		(151	)		(148	)		(240	)		(495	)		(106	%)
Total other insurance expense		16			17			21			29			47			83			77	%
Amortization of deferred policy acquisition costs		13			17			18			29			32			77			141	%
Total benefits and expenses		33			38			45			64			80			180			125	%
Income before income tax expense		13			17			18			11			10			59		NM
Income tax expense		5			6			6			2			3			19		NM
Net Income before cumulative effect of accounting change [1]		8			11			12			9			7			40		NM
Cumulative effect of accounting changes, net of tax		(4	)		—			—			—			—			(4	)		—
Net income	$	4		$	11		$	12		$	9		$	7		$	36		NM

[1] Net income before cumulative effect of accounting change is defined as core earnings.

L - 19b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
INTERNATIONAL — JAPAN
SUPPLEMENTAL DATA — ACCOUNT VALUE ROLLFORWARD

		THREE MONTHS ENDED
		March 31,			June 30,			Sept. 30,
		2005			2005			2005
VARIABLE ANNUITIES	Beginning balance	$	14,129		$	16,495		$	18,440
	Sales/premiums/other deposits		3,072			2,494			2,809
	Surrenders		(125	)		(78	)		(200	)
	Death benefits/annuitizations/other		(55	)		(51	)		(51	)
	Net Flows		2,892			2,365			2,558
	Change in market value/change in reserve/interest credited		136			201			1,380
	Effect of currency translation		(662	)		(621	)		(486	)
	Ending balance	$	16,495		$	18,440		$	21,892
FIXED MVA AND OTHER	Beginning balance	$	502		$	1,120		$	1,286
	Sales/premiums/other deposits		688			222			158
	Surrenders		(3	)		(6	)		(2	)
	Death benefits/annuitizations/other		(34	)		(13	)		(10	)
	Net Flows		651			203			146
	Change in market value/currency/change in reserve/interest credited		2			4			4
	Effect of currency translation		(35	)		(41	)		(29	)
	Ending balance	$	1,120		$	1,286		$	1,407
TOTAL INDIVIDUAL ANNUITY	Beginning balance	$	14,631		$	17,615		$	19,726
	Sales/premiums/other deposits		3,760			2,716			2,967
	Surrenders		(128	)		(84	)		(202	)
	Death benefits/annuitizations/other		(89	)		(64	)		(61	)
	Net Flows		3,543			2,568			2,704
	Change in market value/change in reserve/interest credited		138			205			1,384
	Effect of currency translation		(697	)		(662	)		(515	)
	Ending balance	$	17,615		$	19,726		$	23,299

L - 20a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
LIFE
INTERNATIONAL — JAPAN
SUPPLEMENTAL DATA — ACCOUNT VALUE ROLLFORWARD

		THREE MONTHS ENDED												YEAR ENDED
		March 31,			June 30,			Sept. 30,			Dec. 31,			DEC. 31,
		2004			2004			2004			2004			2003
VARIABLE ANNUITIES	Beginning balance	$	6,220		$	8,119		$	9,277		$	11,118		$	1,722
	Sales/premiums/other deposits		1,436			1,599			2,286			1,943			3,735
	Surrenders		(124	)		(123	)		(80	)		(55	)		(244	)
	Death benefits/annuitizations/other		(27	)		(24	)		(33	)		(44	)		—
	Net Flows		1,285			1,452			2,173			1,844			3,490
	Change in market value/change in reserve/interest credited		394			45			(222	)		334			517
	Effect of currency translation		220			(339	)		(110	)		833			491
	Ending balance	$	8,119		$	9,277		$	11,118		$	14,129		$	6,220
FIXED MVA AND OTHER	Beginning balance	$	—		$	—		$	—		$	9		$	—
	Sales/premiums/other deposits		—			—			9			512			—
	Surrenders		—			—			—			—			—
	Death benefits/annuitizations/other		—			—			—			(26	)		—
	Net Flows		—			—			9			486			—
	Change in market value/change in reserve/interest credited		—			—			—			1			—
	Effect of currency translation		—			—			—			6			—
	Ending balance	$	—		$	—		$	9		$	502		$	—
TOTAL INDIVIDUAL ANNUITY	Beginning balance	$	6,220		$	8,119		$	9,277		$	11,127		$	1,722
	Sales/premiums/other deposits		1,436			1,599			2,295			2,455			3,735
	Surrenders		(124	)		(123	)		(80	)		(55	)		(244	)
	Death benefits/annuitizations/other		(27	)		(24	)		(33	)		(70	)		—
	Net Flows		1,285			1,452			2,182			2,330			3,490
	Change in market value/change in reserve/interest credited		394			45			(222	)		335			517
	Effect of currency translation		220			(339	)		(110	)		839
	Ending balance	$	8,119		$	9,277		$	11,127		$	14,631		$	5,729

L - 20b

PROPERTY & CASUALTY

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

PROPERTY & CASUALTY

FINANCIAL HIGHLIGHTS

	THREE MONTHS ENDED									NINE MONTHS ENDED
	Mar. 31,			Jun. 30,			Sept. 30,			SEPTEMBER 30,
	2005			2005			2005			2004			2005			Change
TOTAL PROPERTY & CASUALTY PREMIUMS
Written premiums [1]	$	2,581		$	2,722		$	2,618		$	7,540		$	7,921			5	%
Earned premiums [2]		2,507			2,578			2,517			7,013			7,602			8	%
TOTAL PROPERTY & CASUALTY UNDERWRITING RESULTS
Business Insurance		118			141			125			297			384			29	%
Personal Lines		127			188			71			44			386		NM
Specialty Commercial		40			5			(143	)		(139	)		(98	)		29	%
Ongoing Operations underwriting results [3]		285			334			53			202			672		NM
Other Operations [4]		(28	)		(110	)		(53	)		(389	)		(191	)		51	%
Total Property & Casualty underwriting results	$	257		$	224		$	—		$	(187	)	$	481		NM
ONGOING OPERATIONS UNDERWRITING RATIOS
Loss and loss adjustment expenses
Current year		63.1			64.2			69.6			71.1			65.6			5.5
Prior year [2] [3] [5]		0.2			(2.9	)		1.7			(0.4	)		(0.3	)		(0.1	)
Total loss and loss adjustment expenses		63.3			61.3			71.3			70.6			65.3			5.3
Expenses		25.1			25.6			26.7			26.3			25.8			0.5
Policyholder dividends		0.2			0.2			—			0.2			0.1			0.1
Combined ratio		88.6			87.0			97.9			97.1			91.2			5.9
Catastrophe ratio [5] [6]		1.9			1.7			6.2			2.6			3.2			(0.6	)
Combined ratio before catastrophes		86.8			85.3			91.7			94.5			87.9			6.6
Combined ratio before catastrophes and prior year development		87.1			88.5			89.8			90.5			88.4			2.1
Total Property & Casualty Income
Net income	$	417		$	369		$	233		$	568		$	1,019			79	%
Core earnings [7] [8]		386			369			232			498			987			98	%
Impact of tax related items		—			—			—			26			—			(100	%)
Core earnings before tax related items [8]	$	386		$	369		$	232		$	472		$	987			109	%
										PROPERTY & CASUALTY
										Dec. 31,			Sept. 30,
										2004			2005			Change
Selected Financial Data
Hartford Fire adjusted statutory surplus ($ in billions)										$	6.4		$	6.9		$	0.5
Hartford Fire premium to adjusted surplus ratio											1.5			1.4			(0.1	)

[1]	Written premium for workers’ compensation business has been adjusted to reflect written premium in the period the policies incept.
[2]	Earned premiums for the nine months ended September 30, 2004 were reduced by $90, reflecting a decrease in estimated earned premiums on retrospectively-rated policies. Earned premiums for the three months ended September 30, 2004 and 2005, are net of catastrophe treaty reinstatement premium of $17 and $60, respectively.
[3]	Ongoing Operations prior year loss and loss adjustment expenses for the nine months ended September 30, 2004 included a net reserve release of $298 related to September 11 and an increase in reserves of $190 for construction defects claims. Ongoing Operations prior year loss and loss adjustment expenses for the three months ended June 30, 2005 included a net reserve release of $95, predominantly related to allocated loss adjustment expenses on auto liability claims.
[4]	During the nine months ended September 30, 2004, the Company reduced the net reinsurance recoverable asset associated with older, long-term casualty liabilities reported in the Other Operations segment by $181. Additionally, the nine months ended September 30, 2004 included a net reserve release of $97 related to September 11, an increase of $130 for assumed casualty reinsurance reserves, and environmental reserve strengthening of $75. The three months ended June 30, 2005 included assumed reinsurance reserve strengthening of $73.
[5]	Included in both the prior year loss and loss adjustment expenses ratio and catastrophe ratio is prior accident year development on catastrophe losses including, for the nine months ended September 30, 2004, the net reserve release related to September 11.
[6]	Catastrophe losses for the nine months ended September 30, 2004 included losses from Hurricane Charley, Hurricane Frances, Hurricane Ivan and Hurricane Jeanne. Catastrophe losses for the three and nine months ended September 30, 2005 included losses from Hurricane Katrina and Hurricane Rita.
[7]	Core earnings for Property & Casualty before the impact of the $90 decrease in estimated earned premiums on retrospectively-rated policies and prior year development is $761 for the nine months ended September 30, 2004.
[8]	For periods prior to January 1, 2005, core earnings included the effect of periodic net coupon settlements on non-qualifying derivatives, after tax.

PC-1a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

PROPERTY & CASUALTY

FINANCIAL HIGHLIGHTS

	THREE MONTHS ENDED												YEAR ENDED
	Mar. 31,			Jun. 30,			Sept. 30,			Dec. 31,			DECEMBER 31,
	2004			2004			2004			2004			2003			2004			Change
TOTAL PROPERTY & CASUALTY PREMIUMS
Written premiums [1]	$	2,397		$	2,548		$	2,595		$	2,422		$	9,144		$	9,962			9	%
Earned premiums [2]		2,186			2,353			2,474			2,481			8,805			9,494			8	%
TOTAL PROPERTY & CASUALTY UNDERWRITING RESULTS
Business Insurance		225			97			(25	)		63			158			360			128	%
Personal Lines		106			75			(137	)		94			130			138			6	%
Specialty Commercial		(110	)		29			(58	)		86			10			(53	)	NM
Ongoing Operations underwriting results [3]		221			201			(220	)		243			298			445			49	%
Other Operations [4]		(65	)		(214	)		(110	)		(59	)		(2,840	)		(448	)		84	%
Total Property & Casualty underwriting results [5]	$	156		$	(13	)	$	(330	)	$	184		$	(2,542	)	$	(3	)		100	%
ONGOING OPERATIONS UNDERWRITING RATIOS
Loss and loss adjustment expenses
Current year		66.8			65.2			80.4			63.9			68.8			69.2			(0.4	)
Prior year [2] [3] [6]		(4.5	)		0.7			2.1			1.4			0.5			0.1			0.4
Total loss and loss adjustment expenses		62.2			65.8			82.5			65.4			69.2			69.3			(0.1	)
Expenses		27.3			25.6			26.1			24.8			26.8			25.9			0.9
Policyholder dividends		0.3			—			0.3			—			0.4			0.1			0.3
Combined ratio		89.8			91.4			108.9			90.2			96.5			95.3			1.2
Catastrophe ratio [5] [6]		(12.2	)		2.4			15.6			1.2			3.1			2.2			0.9
Combined ratio before catastrophes		102.0			89.0			93.3			89.0			93.4			93.1			0.3
Combined ratio before catastrophes and prior year development		92.7			88.5			90.5			87.6			92.8			89.7			3.1
Total Property & Casualty Income
Net income (loss)	$	341		$	203		$	24		$	342		$	(745	)	$	910		NM
Core earnings [7] [8]		297			188			13			331			(898	)		829		NM
Impact of tax related items and 2003 asbestos reserve addition and severance charges		—			—			26			—			(1,728	)		26		NM
Core earnings before tax related items and 2003 asbestos reserve addition and severance charges [8]	$	297		$	188		$	(13	)	$	331		$	830		$	803			(3	%)
													PROPERTY & CASUALTY
													Dec. 31,			Dec. 31,
													2003			2004			Change
Selected Financial Data
Hartford Fire adjusted statutory surplus ($ in billions)													$	5.9		$	6.4		$	0.5
Hartford Fire premium to adjusted surplus ratio														1.5			1.5			—

[1]	Written premium for workers’ compensation business has been adjusted to reflect written premium in the period the policies incept.
[2]	Earned premiums for the three months ended March 31, 2004 were reduced by $90, reflecting a decrease in estimated earned premiums on retrospectively-rated policies. Earned premium for the three months ended September 30, 2004 are net of catastrophe treaty reinstatement premium of $17.
[3]	Ongoing Operations prior year loss and loss adjustment expenses for the three months ended March 31, 2004 included a net reserve release of $298 related to September 11 and an increase in reserves of $190 for construction defects claims.
[4]	During the three months ended June 30, 2004, the Company reduced the reinsurance recoverable asset associated with older, long-term casualty liabilities reported in the Other Operations segment by $181. The three months ended September 30, 2004 included environmental reserve strengthening of $75.
[5]	Included catastrophes of $507, and the net reserve release of $395 related to September 11, for the year ended December 31, 2004. Catastrophe losses for three months ended September 30, 2004 included losses from Hurricane Charley, Hurricane Frances, Hurricane Ivan and Hurricane Jeanne.
[6]	Included in both the prior year loss and loss adjustment expenses ratio and catastrophe ratio is prior accident year development on catastrophe losses including, for the three months ended March 31, 2004, the net reserve release related to September 11.
[7]	Core earnings for Property & Casualty before the impacts of the $90 decrease in estimated earned premiums on retrospectively-rated policies and prior year loss development is $322 for the three months ended March 31, 2004 and $1,157 for the year ended December 31, 2004.
[8]	For periods prior to January 1, 2005, core earnings included the effect of periodic net coupon settlements on non-qualifying derivatives, after tax.

PC-1b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

PROPERTY & CASUALTY

OPERATING RESULTS

	THREE MONTHS ENDED									NINE MONTHS ENDED
	Mar. 31,			Jun. 30,			Sept. 30,			SEPTEMBER 30,
	2005			2005			2005			2004			2005			Change
TOTAL PROPERTY & CASUALTY UNDERWRITING RESULTS
Written premiums [1]	$	2,581		$	2,722		$	2,618		$	7,540		$	7,921			5	%
Change in reserve		74			144			101			527			319			(39	%)
Earned premiums [2]		2,507			2,578			2,517			7,013			7,602			8	%
Loss and loss adjustment expenses
Current year		1,580			1,655			1,749			5,000			4,984			—
Prior year [3]		34			33			94			314			161			(49	%)
Total loss and loss adjustment expenses [4]		1,614			1,688			1,843			5,314			5,145			(3	%)
Underwriting expenses		632			662			675			1,873			1,969			5	%
Dividends to policyholders		4			4			(1	)		13			7			(46	%)
Underwriting results		257			224			—			(187	)		481		NM
Net servicing income		13			15			12			40			40			—
Net investment income		337			328			349			915			1,014			11	%
Periodic net coupon settlements on non-qualifying derivatives, before-tax [5]		—			—			—			8			—			(100	%)
Other expenses		(60	)		(39	)		(53	)		(181	)		(152	)		16	%
Income tax expense		(161	)		(159	)		(76	)		(123	)		(396	)	NM
Core earnings, before tax related items		386			369			232			472			987			109	%
Tax related items [6]		—			—			—			26			—			(100	%)
Core earnings		386			369			232			498			987			98	%
Add: Net realized capital gains, after-tax [5]		31			—			1			70			32			(54	%)
Net income	$	417		$	369		$	233		$	568		$	1,019			79	%
Total Property & Casualty effective tax rate — net income		29.9	%		30.0	%		25.0	%		19.2	%		28.9	%		9.7
Total Property & Casualty effective tax rate — core earnings [5]		29.5	%		30.0	%		24.9	%		16.4	%		28.6	%		12.2

[1]	Written premium for workers’ compensation business has been adjusted to reflect written premium in the period the policies incept.
[2]	Earned premiums for the nine months ended September 30, 2004 were reduced by $90, reflecting a decrease in estimated earned premiums on retrospectively-rated policies. Earned premiums for the three months ended September 30, 2004 and 2005, are net of catastrophe treaty reinstatement premium of $17 and $60, respectively.
[3]	The nine months ended September 30, 2004 included a net reserve release of $395 related to September 11, an increase in reserves of $190 for construction defects claims, an increase in reserves of $130 for assumed casualty reinsurance, a reduction in net reinsurance recoverables of $181, and environmental reserve strengthening of $75. The three months ended June 30, 2005 included a net reserve release of $95, predominantly related to allocated loss adjustment expenses on auto liability claims and assumed reinsurance reserve strengthening of $73.
[4]	The three months ended September 30, 2004 included catastrophe losses from Hurricane Charley, Hurricane Frances, Hurricane Ivan and Hurricane Jeanne. The three months ended September 30, 2005 included catastrophe losses from Hurricane Katrina and Hurricane Rita.
[5]	For periods prior to January 1, 2005, core earnings included the effect of periodic net coupon settlements on non-qualifying derivatives, after tax.
[6]	Tax benefit related to the audit settlement of tax years prior to 2004.

PC-2a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.

PROPERTY & CASUALTY

OPERATING RESULTS

	THREE MONTHS ENDED												YEAR ENDED
	Mar. 31,			Jun. 30,			Sept. 30,			Dec. 31,			DECEMBER 31,
	2004			2004			2004			2004			2003			2004			Change
TOTAL PROPERTY & CASUALTY UNDERWRITING RESULTS
Written premiums [1]	$	2,397		$	2,548		$	2,595		$	2,422		$	9,144		$	9,962			9	%
Change in reserve		211			195			121			(59	)		339			468			38	%
Earned premiums [2]		2,186			2,353			2,474			2,481			8,805			9,494			8	%
Loss and loss adjustment expenses
Current year		1,469			1,535			1,996			1,590			6,102			6,590			8	%
Prior year [3] [4]		(51	)		221			144			100			220			414			88	%
Total loss and loss adjustment expenses [5]		1,418			1,756			2,140			1,690			6,322			7,004			11	%
Underwriting expenses		605			611			657			608			2,387			2,481			4	%
Dividends to policyholders		7			(1	)		7			(1	)		34			12			(65	%)
Underwriting results		156			(13	)		(330	)		184			62			(3	)	NM
Net servicing income		9			21			10			2			8			42		NM
Net investment income		311			295			309			333			1,172			1,248			6	%
Periodic net coupon settlements on non-qualifying derivatives, before-tax [6]		4			3			1			1			18			9			(50	%)
Other expenses		(68	)		(60	)		(53	)		(54	)		(173	)		(235	)		(36	%)
Income tax expense		(115	)		(58	)		50			(135	)		(257	)		(258	)		—
Core earnings, before tax related items and 2003 asbestos reserve addition and severance charges		297			188			(13	)		331			830			803			(3	%)
Tax related items [7]		—			—			26			—			—			26			—
Severance charges		—			—			—			—			(27	)		—			100	%
2003 asbestos reserve addition		—			—			—			—			(1,701	)		—			100	%
Core earnings		297			188			13			331			(898	)		829		NM
Add: Net realized capital gains, after-tax [6]		44			15			11			11			153			81			(47	%)
Net income (loss)	$	341		$	203		$	24		$	342		$	(745	)	$	910		NM
Total Property & Casualty effective tax rate — net income		28.8	%		24.8	%	NM				29.0	%	NM				23.2	%	NM
Total Property & Casualty effective tax rate — core earnings [6]		27.8	%		23.8	%	NM				28.8	%	NM				21.8	%	NM

[1]	Written premium for workers’ compensation business has been adjusted to reflect written premium in the period the policies incept.
[2]	Earned premiums for the three months ended March 31, 2004 were reduced by $90, reflecting a decrease in estimated earned premiums on retrospectively-rated policies. Earned premiums for the three months ended September 30, 2004 are net of catastrophe treaty reinstatement premium of $17.
[3]	The three months ended March 31, 2004 included a net reserve release of $395 related to September 11, an increase in reserves of $190 for construction defects claims and an increase in reserves of $130 for assumed casualty reinsurance. The three months ended June 30, 2004 included a reduction in net reinsurance recoverables of $181. The three months ended September 30, 2004 included environmental reserve strengthening of $75.
[4]	The year ended December 31, 2003 excludes $2,604 related to the 2003 asbestos reserve addition.
[5]	Included catastrophes of $507, and the net reserve release of $395 related to September 11, for the year ended December 31, 2004. Catastrophe losses for the three months ended September 30, 2004 included losses from Hurricane Charley, Hurricane Frances, Hurricane Ivan and Hurricane Jeanne.
[6]	For periods prior to January 1, 2005, core earnings included the effect of periodic net coupon settlements on non-qualifying derivatives, after tax.
[7]	Tax benefit related to the audit settlement of tax years prior to 2004.

PC-2b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
PROPERTY & CASUALTY — ONGOING OPERATIONS
OPERATING RESULTS

	THREE MONTHS ENDED									NINE MONTHS ENDED
	Mar. 31,			Jun. 30,			Sept. 30,			SEPTEMBER 30,
	2005			2005			2005			2004			2005			Change
ONGOING OPERATIONS UNDERWRITING RESULTS
Written premiums [1]	$	2,579		$	2,722		$	2,616		$	7,551		$	7,917			5	%
Change in reserve		75			143			101			560			319			(43	%)
Earned premiums [2]		2,504			2,579			2,515			6,991			7,598			9	%
Loss and loss adjustment expenses
Current year		1,580			1,655			1,749			4,967			4,984			—
Prior year [3]		6			(74	)		43			(30	)		(25	)		17	%
Total loss and loss adjustment expenses [4]		1,586			1,581			1,792			4,937			4,959			—
Underwriting expenses		629			660			671			1,839			1,960			7	%
Dividends to policyholders		4			4			(1	)		13			7			(46	%)
Underwriting results		285			334			53			202			672		NM
Net servicing income		13			15			12			40			40			—
Net investment income		260			258			279			650			797			23	%
Periodic net coupon settlements on non-qualifying derivatives, before-tax [5]		—			—			—			8			—			(100	%)
Other expenses		(59	)		(37	)		(50	)		(162	)		(146	)		10	%
Income tax expense		(149	)		(178	)		(77	)		(191	)		(404	)		(112	%)
Core earnings, before tax related items		350			392			217			547			959			75	%
Tax related items [6]		—			—			—			26			—			(100	%)
Core earnings		350			392			217			573			959			67	%
Add: Net realized capital gains (loss), after-tax [5]		18			(4	)		1			46			15			(67	%)
Net income	$	368		$	388		$	218		$	619		$	974			57	%
Ongoing Operations effective tax rate — net income		30.2	%		31.1	%		26.1	%		23.5	%		29.7	%		6.2
Ongoing Operations effective tax rate — core earnings [5]		30.0	%		31.1	%		26.0	%		22.4	%		29.6	%		7.2

[1]	Written premium for workers’ compensation business has been adjusted to reflect written premium in the period the policies incept.
[2]	Earned premiums for the nine months ended September 30, 2004 were reduced by $90, reflecting a decrease in estimated earned premiums on retrospectively-rated policies. Earned premiums for the three months ended September 30, 2004 and 2005, are net of catastrophe treaty reinstatement premium of $17 and $60, respectively.
[3]	The nine months ended September 30, 2004 included a net reserve release of $298 related to September 11 and an increase in reserves of $190 for construction defects claims. The three months ended June 30, 2005 included a net reserve release of $95, predominantly related to allocated loss adjustment expenses on auto liability claims.
[4]	The three months ended September 30, 2004 included catastrophe losses from Hurricane Charley, Hurricane Frances, Hurricane Ivan and Hurricane Jeanne. The three months ended September 30, 2005 included catastrophe losses from Hurricane Katrina and Hurricane Rita.
[5]	For periods prior to January 1, 2005, core earnings included the effect of periodic net coupon settlements on non-qualifying derivatives, after tax.
[6]	Tax benefit related to the audit settlement of tax years prior to 2004.

PC-3a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
PROPERTY & CASUALTY — ONGOING OPERATIONS
OPERATING RESULTS

	THREE MONTHS ENDED												YEAR ENDED
	Mar. 31,			Jun. 30,			Sept. 30,			Dec. 31,			DECEMBER 31,
	2004			2004			2004			2004			2003			2004			Change
ONGOING OPERATIONS UNDERWRITING RESULTS
Written premiums [1]	$	2,398		$	2,552		$	2,601		$	2,421		$	8,920		$	9,972			12	%
Change in reserve		224			213			123			(58	)		485			502			4	%
Earned premiums [2]		2,174			2,339			2,478			2,479			8,435			9,470			12	%
Loss and loss adjustment expenses
Current year		1,452			1,524			1,991			1,587			5,800			6,554			13	%
Prior year [3]		(99	)		16			53			35			40			5			(88	%)
Total loss and loss adjustment expenses [4]		1,353			1,540			2,044			1,622			5,840			6,559			12	%
Underwriting expenses		593			599			647			615			2,263			2,454			8	%
Dividends to policyholders		7			(1	)		7			(1	)		34			12			(65	%)
Underwriting results		221			201			(220	)		243			298			445			49	%
Net servicing income		9			21			10			2			8			42		NM
Net investment income		215			207			228			253			836			903			8	%
Periodic net coupon settlements on non-qualifying derivatives, before-tax [5]		4			3			1			1			18			9			(50	%)
Other expenses		(61	)		(51	)		(50	)		(36	)		(219	)		(198	)		10	%
Income tax expense		(113	)		(110	)		32			(139	)		(217	)		(330	)		(52	%)
Core earnings, before tax related items and severance charges		275			271			1			324			724			871			20	%
Tax related items [6]		—			—			26			—			—			26			—
Severance charges		—			—			—			—			(27	)		—			100	%
Core earnings		275			271			27			324			697			897			29	%
Add: Net realized capital gains, after-tax [5]		30			8			8			12			86			58			(33	%)
Net income	$	305		$	279		$	35		$	336		$	783		$	955			22	%
Ongoing Operations effective tax rate — net income		29.7	%		29.3	%	NM				30.0	%		24.2	%		25.9	%		1.7
Ongoing Operations effective tax rate — core earnings [5]		29.1	%		29.1	%	NM				29.8	%		22.7	%		25.2	%		2.5

[1]	Written premium for workers’ compensation business has been adjusted to reflect written premium in the period the policies incept.
[2]	Earned premiums for the three months ended March 31, 2004 were reduced by $90, reflecting a decrease in estimated earned premiums on retrospectively-rated policies. Earned premiums for the three months ended September 30, 2004 are net of catastrophe treaty reinstatement premium of $17.
[3]	The three months ended March 31, 2004 included a net reserve release of $298 related to September 11 and an increase in reserves of $190 for construction defects claims.
[4]	Included catastrophes of $506, and the net reserve release of $298 related to September 11, for the year ended December 31, 2004. Catastrophe losses for the three months ended September 30, 2004 included losses from Hurricane Charley, Hurricane Frances, Hurricane Ivan and Hurricane Jeanne.
[5]	For periods prior to January 1, 2005, core earnings included the effect of periodic net coupon settlements on non-qualifying derivatives, after tax.
[6]	Tax benefit related to the audit settlement of tax years prior to 2004.

PC-3b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
PROPERTY & CASUALTY
SPECIALTY COMMERCIAL
UNDERWRITING RESULTS

	THREE MONTHS ENDED							NINE MONTHS ENDED
	Mar. 31,		Jun. 30,		Sept. 30,			SEPTEMBER 30,
	2005		2005		2005			2004			2005			Change
UNDERWRITING RESULTS
Written premiums [1]	$	477	$	500	$	457		$	1,432		$	1,434			—
Change in reserve		12		32		26			178			70			(61	%)
Earned premiums [2] [3]		465		468		431			1,254			1,364			9	%
Loss and loss adjustment expenses
Current year		314		330		398			1,036			1,042			1	%
Prior year [4]		9		28		62			71			99			39	%
Total loss and loss adjustment expenses [5]		323		358		460			1,107			1,141			3	%
Underwriting expenses		100		103		112			286			315			10	%
Dividends to policyholders		2		2		2			—			6			—
Underwriting results	$	40	$	5	$	(143	)	$	(139	)	$	(98	)		29	%
UNDERWRITING RATIOS [2]
Loss and loss adjustment expenses
Current year		67.1		70.9		92.8			82.8			76.6			6.2
Prior year [6]		1.9		5.8		14.6			5.6			7.2			(1.6	)
Total loss and loss adjustment expenses		69.1		76.7		107.4			88.4			83.8			4.6
Expenses		21.9		21.7		25.4			22.7			22.9			(0.2	)
Policyholder dividends		0.4		0.4		0.5			—			0.4			(0.4	)
Combined ratio		91.3		98.8		133.3			111.1			107.2			3.9
Catastrophe ratio [5] [6]		1.5		3.3		19.7			(2.1	)		7.8			(9.9	)
Combined ratio before catastrophes		89.8		95.5		113.6			113.2			99.3			13.9
Combined ratio before catastrophes and prior year development		88.0		91.0		98.2			98.4			92.3			6.1

[1]

Written premium for workers’ compensation business has been adjusted to reflect written premium in the period the policies incept.

[2]

Specialty Commercial earned premiums for the nine months ended September 30, 2004 were reduced by $90, reflecting a decrease in estimated earned premiums on retrospectively-rated policies. The nine months ended September 30, 2004 also included a net reserve release of $116 related to September 11 and an increase in reserves of $167 for construction defects claims. Other prior year loss development for the nine months ended September 30, 2004 included an increase in reserves of $20. The following table shows underwriting ratios for the nine months ended September 30, 2004 before giving effect of these items:

Loss and loss adjustment expenses
Current year	77.2
Prior year	—
Total loss and loss adjustment expenses	77.2
Expenses	21.2
Policyholder dividends	—
Combined ratio	98.4
Catastrophe ratio	6.7
Combined ratio before catastrophes	91.8
Combined ratio before catastrophes and prior year development	91.8

[3]	Earned premiums for the three months ended September 30, 2004 and 2005 are net of catastrophe treaty reinstatement premium of $4 and $18, respectively.
[4]	The three months ended September 30, 2005 included workers compensation reserve strengthening of $70.
[5]	Catastrophe losses for the three months ended September 30, 2004 included losses from Hurricane Charley, Hurricane Frances, Hurricane Ivan and Hurricane Jeanne. Catastrophe losses for the three months ended September 30, 2005 included losses from Hurricane Katrina and Hurricane Rita.
[6]	Included in both the prior year loss and loss adjustment expenses ratio and catastrophe ratio is prior accident year development on catastrophe losses including, for the nine months ended September 30, 2004, the net reserve release related to September 11.

PC-4a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
PROPERTY & CASUALTY
SPECIALTY COMMERCIAL
UNDERWRITING RESULTS

	THREE MONTHS ENDED												YEAR ENDED
	Mar. 31,			Jun. 30,			Sept. 30,			Dec. 31,			DECEMBER 31,
	2004			2004			2004			2004			2003		2004			Change
UNDERWRITING RESULTS
Written premiums [1]	$	426		$	473		$	533		$	408		$	1,691	$	1,840			9	%
Change in reserve		105			56			17			(64	)		133		114			(14	%)
Earned premiums [2] [3]		321			417			516			472			1,558		1,726			11	%
Loss and loss adjustment expenses
Current year		293			302			441			309			1,130		1,345			19	%
Prior year		47			3			21			(2	)		52		69			33	%
Total loss and loss adjustment expenses [4]		340			305			462			307			1,182		1,414			20	%
Underwriting expenses		88			89			109			77			356		363			2	%
Dividends to policyholders		3			(6	)		3			2			10		2			(80	%)
Underwriting results	$	(110	)	$	29		$	(58	)	$	86		$	10	$	(53	)	NM
UNDERWRITING RATIOS [2]
Loss and loss adjustment expenses
Current year		90.3			73.2			85.9			64.9			72.5		77.9			(5.4	)
Prior year [5]		14.9			0.6			3.9			(0.4	)		3.3		4.0			(0.7	)
Total loss and loss adjustment expenses		105.2			73.8			89.8			64.5			75.8		81.9			(6.1	)
Expenses		28.1			20.4			21.3			16.9			22.9		21.1			1.8
Policyholder dividends		0.8			(1.2	)		0.4			0.5			0.7		0.1			0.6
Combined ratio		134.1			93.1			111.4			81.8			99.3		103.1			(3.8	)
Catastrophe ratio [4] [5]		(35.6	)		1.6			15.7			4.2			1.7		(0.4	)		2.1
Combined ratio before catastrophes		169.7			91.5			95.7			77.6			97.6		103.5			(5.9	)
Combined ratio before catastrophes and prior year development		117.5			91.7			91.9			78.0			94.3		92.8			1.5

[1]

Written premium for workers’ compensation business has been adjusted to reflect written premium in the period the policies incept.

[2]

Specialty Commercial earned premiums for the three months ended March 31, 2004 were reduced by $90, reflecting a decrease in estimated earned premiums on retrospectively-rated policies. The three months ended March 31, 2004 also included a net reserve release of $116 related to September 11 and an increase in reserves of $167 for construction defects claims. Other prior year loss development in 2004 included a decrease in reserves of $4 for the three months ended March 31, 2004 and an increase in reserves of $18 for the year ended December 31, 2004. The following table shows underwriting ratios for the three months ended March 31, 2004 and year ended December 31, 2004 before giving effect of these items:

Loss and loss adjustment expenses
Current year	70.5	74.0
Prior year	—	—
Total loss and loss adjustment expenses	70.5	74.0
Expenses	21.9	20.1
Policyholder dividends	0.6	0.1
Combined ratio	93.0	94.2
Catastrophe ratio	1.3	6.0
Combined ratio before catastrophes	91.7	88.2
Combined ratio before catastrophes and prior year development	91.7	88.2

[3]	Earned premiums for the three months ended September 30, 2004 are net of catastrophe treaty reinstatement premium of $4.
[4]	Catastrophe losses for the three months ended September 30, 2004 included losses from Hurricane Charley, Hurricane Frances, Hurricane Ivan and Hurricane Jeanne.
[5]	Included in both the prior year loss and loss adjustment expenses ratio and catastrophe ratio is prior accident year development on catastrophe losses including, for the three months ended March 31, 2004, the net reserve release related to September 11.

PC-4b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
PROPERTY & CASUALTY
SPECIALTY COMMERCIAL
WRITTEN AND EARNED PREMIUMS

	THREE MONTHS ENDED						NINE MONTHS ENDED
	Mar. 31,		Jun. 30,		Sept. 30,		SEPTEMBER 30,
	2005		2005		2005		2004		2005		Change
WRITTEN PREMIUMS [1]
Property	$	66	$	75	$	38	$	371	$	179		(52	%)
Casualty		242		239		202		571		683		20	%
Bond		52		59		59		149		170		14	%
Professional Liability		76		89		109		249		274		10	%
Other [2]		41		38		49		92		128		39	%
Total	$	477	$	500	$	457	$	1,432	$	1,434		—
EARNED PREMIUMS [1]
Property	$	76	$	72	$	40	$	343	$	188		(45	%)
Casualty [3]		214		221		201		437		636		46	%
Bond		49		52		54		140		155		11	%
Professional Liability		82		84		89		248		255		3	%
Other		44		39		47		86		130		51	%
Total	$	465	$	468	$	431	$	1,254	$	1,364		9	%

[1]	The difference between written premiums and earned premiums is attributable to the change in unearned premium reserve.
[2]	Written premium for workers’ compensation business has been adjusted to reflect written premium in the period the policies incept.
[3]	Earned premiums for the nine months ended September 30, 2004 were reduced by $90 to reflect a decrease in estimated earned premiums on retrospectively-rated policies.

PC-5a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
PROPERTY & CASUALTY
SPECIALTY COMMERCIAL
WRITTEN AND EARNED PREMIUMS

	THREE MONTHS ENDED								YEAR ENDED
	Mar. 31,		Jun. 30,		Sept. 30,		Dec. 31,		DECEMBER 31,
	2004		2004		2004		2004		2003		2004		Change
WRITTEN PREMIUMS [1]
Property	$	83	$	122	$	166	$	72	$	440	$	443		1	%
Casualty		192		182		197		172		670		743		11	%
Bond		48		50		51		48		162		197		22	%
Professional Liability		78		85		86		93		324		342		6	%
Other [2]		25		34		33		23		95		115		21	%
Total	$	426	$	473	$	533	$	408	$	1,691	$	1,840		9	%
EARNED PREMIUMS [1]
Property	$	87	$	99	$	157	$	118	$	429	$	461		7	%
Casualty [3]		81		163		193		198		615		635		3	%
Bond		44		49		47		48		152		188		24	%
Professional Liability		82		82		84		87		296		335		13	%
Other		27		24		35		21		66		107		62	%
Total	$	321	$	417	$	516	$	472	$	1,558	$	1,726		11	%

[1]	The difference between written premiums and earned premiums is attributable to the change in unearned premium reserve.
[2]	Written premium for workers’ compensation business has been adjusted to reflect written premium in the period the policies incept.
[3]	Earned premiums for the three months ended March 31, 2004 were reduced by $90 to reflect a decrease in estimated earned premiums on retrospectively-rated policies.

PC-5b

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
PROPERTY & CASUALTY — OTHER OPERATIONS
OPERATING RESULTS

	THREE MONTHS ENDED									NINE MONTHS ENDED
										SEPTEMBER 30,
	Mar. 31,			Jun. 30,			Sept. 30,
	2005			2005			2005			2004			2005			Change
UNDERWRITING RESULTS
Written premiums	$	2		$	—		$	2		$	(11	)	$	4		NM
Change in reserve		(1	)		1			—			(33	)		—			100	%
Earned premiums		3			(1	)		2			22			4			(82	%)
Loss and loss adjustment expenses
Current year		—			—			—			33			—			(100	%)
Prior year [1]		28			107			51			344			186			(46	%)
Total loss and loss adjustment expenses		28			107			51			377			186			(51	%)
Underwriting expenses		3			2			4			34			9			(74	%)
Underwriting results		(28	)		(110	)		(53	)		(389	)		(191	)		51	%
Net investment income		77			70			70			265			217			(18	%)
Other expenses		(1	)		(2	)		(3	)		(19	)		(6	)		68	%
Income tax expense		(12	)		19			1			68			8			(88	%)
Core earnings		36			(23	)		15			(75	)		28		NM
Add: Net realized capital gains, after-tax		13			4			—			24			17			(29	%)
Net income (loss)	$	49		$	(19	)	$	15		$	(51	)	$	45		NM

[1] The nine months ended September 30, 2004 included a net reserve release of $97 related to September 11, an increase of $130 for assumed casualty reinsurance reserves, a provision of $181 associated with the evaluation of the reinsurance recoverable asset, and $75 of environmental reserve strengthening. The three months ended June 30, 2005 included assumed reinsurance reserve strengthening of $73. The three months ended September 30, 2005 included environmental reserve strengthening of $37.

PC-6a

THE HARTFORD FINANCIAL SERVICES GROUP, INC.
PROPERTY & CASUALTY — OTHER OPERATIONS
OPERATING RESULTS

	THREE MONTHS ENDED												YEAR ENDED
													DECEMBER 31,
	Mar. 31,			Jun. 30,			Sept. 30,			Dec. 31,
	2004			2004			2004			2004			2003			2004			Change
UNDERWRITING RESULTS
Written premiums	$	(1	)	$	(4	)	$	(6	)	$	1		$	224		$	(10	)	NM
Change in reserve		(13	)		(18	)		(2	)		(1	)		(146	)		(34	)		77	%
Earned premiums		12			14			(4	)		2			370			24			(94	%)
Loss and loss adjustment expenses
Current year		17			11			5			3			302			36			(88	%)
Prior year [1] [2]		48			205			91			65			180			409			127	%
Total loss and loss adjustment expenses		65			216			96			68			482			445			(8	%)
Underwriting expenses		12			12			10			(7	)		124			27			(78	%)
Underwriting results		(65	)		(214	)		(110	)		(59	)		(236	)		(448	)		(90	%)
Net investment income		96			88			81			80			336			345			3	%
Other expenses		(7	)		(9	)		(3	)		(18	)		46			(37	)	NM
Income tax expense		(2	)		52			18			4			(40	)		72		NM
Core earnings before 2003 asbestos reserve addition		22			(83	)		(14	)		7			106			(68	)	NM
2003 Asbestos reserve addition		—			—			—			—			(1,701	)		—			100	%
Core earnings		22			(83	)		(14	)		7			(1,595	)		(68	)		96	%
Add: Net realized capital gains, after-tax		14			7			3			(1	)		67			23			(66	%)
Net income (loss)	$	36		$	(76	)	$	(11	)	$	6		$	(1,528	)	$	(45	)		97	%

[1]

The three months ended March 31, 2004 included a net reserve release of $97 related to September 11 and an increase of $130 for assumed casualty reinsurance reserves. The three months ended June 30, 2004 included a provision of $181 associated with the evaluation of the reinsurance recoverable asset. The three months ended September 30, 2004 included environmental reserve strengthening of $75. The three months ended December 31, 2004 included an increase of $40 for assumed casualty reinsurance reserves.

[2]

The year ended December 31, 2003 excludes $2,604 related to the 2003 asbestos reserve addition.

PC-6b

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: January 10, 2006	By:	/s/ Robert J. Price
		Name:	Robert J. Price
		Title:	Senior Vice President and Controller