The Hartford Financial Services Group, Inc. (HIG) 10-Q 3 Nov 09 2009 Q3 Quarterly report Financial data

Document and Company Informatio

Document and Company Information (USD $)
In Billions, except Share data	9 Months Ended Sep. 30, 2009	Oct. 27, 2009	Jun. 30, 2008
Document and Company Information [Abstract]
Entity Registrant Name	HARTFORD FINANCIAL SERVICES GROUP INC/DE
Entity Central Index Key	0000874766
Document Type	10-Q
Document Period End Date	2009-09-30
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			19.4
Entity Common Stock, Shares Outstanding		383,008,419

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) (USD $)
In Millions, except Per Share data	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Revenues
Earned premiums	$3,499	$3,903	$10,920	$11,637
Fee income	1,140	1,333	3,369	4,056
Net investment income (loss):
Securities available-for-sale and other	1,049	1,103	2,990	3,526
Equity securities, trading	638	(3,415)	2,437	(5,840)
Total net investment income (loss)	1,687	(2,312)	5,427	(2,314)
Net realized capital losses:
Total other-than-temporary impairment ("OTTI") losses	(760)	(3,077)	(1,546)	(3,545)
OTTI losses recognized in other comprehensive income	224	0	472	0
Net OTTI losses recognized in earnings	(536)	(3,077)	(1,074)	(3,545)
Net realized capital losses, excluding net OTTI losses recognized in earnings	(683)	(372)	(742)	(1,557)
Total net realized capital losses	(1,219)	(3,449)	(1,816)	(5,102)
Other revenues	123	132	361	377
Total revenues	5,230	(393)	18,261	8,654
Benefits, losses and expenses
Benefits, losses and loss adjustment expenses	3,070	3,994	10,799	10,937
Benefits, losses and loss adjustment expenses - returns credited on International variable annuities	638	(3,415)	2,437	(5,840)
Amortization of deferred policy acquisition costs and present value of future profits	687	1,927	3,620	3,201
Insurance operating costs and expenses	945	1,029	2,802	3,026
Interest expense	118	84	357	228
Goodwill impairment	0	0	32	0
Other expenses	229	171	670	542
Total benefits, losses and expenses	5,687	3,790	20,717	12,094
Loss before income taxes	(457)	(4,183)	(2,456)	(3,440)
Income tax benefit	(237)	(1,552)	(1,012)	(1,497)
Net loss	(220)	(2,631)	(1,444)	(1,943)
Preferred stock dividends and accretion of discount	62	0	65	0
Net loss available to common shareholders	($282)	($2,631)	($1,509)	($1,943)
Earnings (Loss) per common share
Basic	-0.79	-8.74	-4.52	-6.29
Diluted	-0.79	-8.74	-4.52	-6.29
Weighted average common shares outstanding	356.1	301.1	334.1	308.8
Weighted average common shares outstanding and dilutive potential common shares	356.1	301.1	334.1	308.8
Cash dividends declared per common share	0.05	0.53	0.15	1.59

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) (USD $)
In Millions	Sep. 30, 2009	Dec. 31, 2008	Sep. 30, 2008
Investments
Fixed maturities, available-for-sale, at fair value (amortized cost of $74,429 and $78,238)	$68,641	$65,112
Equity securities, trading, at fair value (cost of $34,760 and $35,278)	33,463	30,820
Equity securities, available-for-sale, at fair value (cost of $1,403 and $1,554)	1,397	1,458
Mortgage loans	6,328	6,469
Policy loans, at outstanding balance	2,209	2,208
Limited partnerships and other alternative investments	1,812	2,295
Other investments	1,679	1,723
Short-term investments	13,910	10,022
Total investments	129,439	120,107
Cash	2,417	1,811	1,963
Premiums receivable and agents' balances	3,482	3,604
Reinsurance recoverables	5,604	6,357
Deferred policy acquisition costs and present value of future profits	11,040	13,248
Deferred income taxes	3,820	5,239
Goodwill	1,204	1,060
Property and equipment, net	1,032	1,075
Other assets	2,724	4,898
Separate account assets	155,958	130,184
Total assets	316,720	287,583
Reserve for future policy benefits and unpaid losses and loss adjustment expenses
Property and casualty	21,901	21,933
Life	17,950	16,747
Other policyholder funds and benefits payable	47,996	53,753
Other policyholder funds and benefits payable - International variable annuities	33,439	30,799
Unearned premiums	5,324	5,379
Short-term debt	342	398
Long-term debt	5,493	5,823
Consumer notes	1,193	1,210
Other liabilities	9,643	11,997
Separate account liabilities	155,958	130,184
Total liabilities	299,239	278,223
Equity
Preferred stock, $0.01 par value - 50,000,000 shares authorized, 3,400,000 and 6,048,387 shares issued, liquidation preference $1,000 and $0.02 per share	2,940	0
Common stock, $0.01 par value - 1,500,000,000 and 750,000,000 shares authorized, 410,192,882 and 329,920,310 shares issued	4	3
Additional paid-in capital	8,976	7,569
Retained earnings	10,689	11,336
Treasury stock, at cost - 27,162,478 and 29,341,378 shares	(1,936)	(2,120)
Accumulated other comprehensive loss, net of tax	(3,217)	(7,520)
Total stockholders' equity	17,456	9,268	12,557
Noncontrolling interest	25	92
Total equity	17,481	9,360	12,682
Total liabilities and equity	$316,720	$287,583

1_Condensed Consolidated Balanc

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) (USD $)
In Millions, except Share data	Sep. 30, 2009	Dec. 31, 2008
Investments
Fixed maturities, available-for-sale, at amortized cost	$74,429	$78,238
Equity securities, trading, at cost	34,760	35,278
Equity securities, available-for-sale, at cost	$1,403	$1,554
Equity
Preferred stock, par value	0.01	0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	3,400,000	6,048,387
Preferred Stock, liquidation preference per share	1,000	0.02
Common stock, par value	0.01	0.01
Common stock, shares authorized	1,500,000,000	750,000,000
Common stock, shares issued	410,192,882	329,920,310
Treasury stock, shares	27,162,478	29,341,378

2_Condensed Consolidated Statem

Condensed Consolidated Statements of Changes in Stockholders Equity (Unaudited) (USD $)
In Millions, except Share data in Thousands	Adjustment Retained Earnings	Common Stock	Preferred Stock	Additional Paid-in Capital	Treasury Stock, at Cost	Retained Earnings	Accumulated Other Comprehensive Loss, Net of Tax	Noncontrolling Interest	Total
Preferred shares, balance at beginning of period at Dec. 31, 2007			0
Common shares, balance at beginning of period at Dec. 31, 2007		313,842
Balance at beginning of period at Dec. 31, 2007	$14,683		$0	$6,627	($1,254)	$14,686	($858)	$92	$19,204
Issuance of shares to U.S. Treasury			0
Common Stock		3
Issuance of warrants to U.S. Treasury				0
Issuance of shares under discretionary equity issuance plan				0
Issuance of shares under incentive and stock compensation plans				(39)
Reclassification of warrants from other liabilities to equity and extension of warrants' term				0
Tax (expense) benefit on employee stock options and awards				10
Cumulative effect of accounting change, net of tax	(3)
Net loss						(1,943)			(1,943)
Cumulative effect of accounting change, net of tax						0	0
Accretion of preferred stock discount on issuance to U. S. Treasury			0			0
Dividends on preferred stock						0
Dividends declared on common stock						(491)
Treasury stock acquired					(1,000)
Issuance of shares under incentive and stock compensation plans from treasury stock					133
Return of shares under incentive and stock compensation plans to treasury stock					(17)
Cumulative effect of accounting change, net of tax						0	0
Total other comprehensive income (loss)							(3,297)		(3,297)
Change in noncontrolling interest ownership								60
Noncontrolling loss								(27)
Conversion of preferred to common shares			0
Issuance of shares to U.S. Treasury			0
Treasury stock acquired		(14,682)
Conversion of preferred to common shares		0
Issuance of shares under discretionary equity issuance plan		0
Issuance of shares under incentive and stock compensation plans		1,442
Return of shares under incentive and stock compensation plans to treasury stock		(248)
Preferred shares, balance at end of period at Sep. 30, 2008			0
Common shares, balance at end of period at Sep. 30, 2008		300,354
Balance at end of period at Sep. 30, 2008			0	6,598	(2,138)	12,249	(4,155)	125	12,557
Preferred shares, balance at beginning of period at Dec. 31, 2008			6,048
Common shares, balance at beginning of period at Dec. 31, 2008		300,579
Balance at beginning of period at Dec. 31, 2008	11,336		0	7,569	(2,120)	11,336	(7,520)	92	9,268
Issuance of shares to U.S. Treasury			2,920
Common Stock		4							4
Issuance of warrants to U.S. Treasury				480
Issuance of shares under discretionary equity issuance plan				887
Issuance of shares under incentive and stock compensation plans				(135)
Reclassification of warrants from other liabilities to equity and extension of warrants' term				186
Tax (expense) benefit on employee stock options and awards				(11)
Cumulative effect of accounting change, net of tax	0
Net loss						(1,444)			(1,444)
Cumulative effect of accounting change, net of tax						912	912
Accretion of preferred stock discount on issuance to U. S. Treasury			(20)			(20)
Dividends on preferred stock						(45)
Dividends declared on common stock						(50)
Treasury stock acquired					0
Issuance of shares under incentive and stock compensation plans from treasury stock					187
Return of shares under incentive and stock compensation plans to treasury stock					(3)
Cumulative effect of accounting change, net of tax						(912)	(912)
Total other comprehensive income (loss)							5,215		5,215
Change in noncontrolling interest ownership								(61)
Noncontrolling loss								(6)
Conversion of preferred to common shares			(6,048)
Issuance of shares to U.S. Treasury			3,400
Treasury stock acquired		(15)
Conversion of preferred to common shares		24,194
Issuance of shares under discretionary equity issuance plan		56,109
Issuance of shares under incentive and stock compensation plans		2,353
Return of shares under incentive and stock compensation plans to treasury stock		(190)
Preferred shares, balance at end of period at Sep. 30, 2009			3,400
Common shares, balance at end of period at Sep. 30, 2009		383,030
Balance at end of period at Sep. 30, 2009			$2,940	$8,976	($1,936)	$10,689	($3,217)	$25	$17,456

3_Condensed Consolidated Statem

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (USD $)
In Millions	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Comprehensive Income (Loss)
Net loss	($220)	($2,631)	($1,444)	($1,943)
Other comprehensive income (loss)
Change in net unrealized loss on securities	3,232	(1,483)	5,572	(3,509)
Change in other-than-temporary impairment losses recognized in other comprehensive income	(51)	0	(176)	0
Change in net gain/loss on cash-flow hedging instruments	99	163	(269)	177
Change in foreign currency translation adjustments	102	(63)	57	11
Amortization of prior service cost and actuarial net losses included in net periodic benefit costs	11	8	31	24
Total other comprehensive income (loss)	3,393	(1,375)	5,215	(3,297)
Total comprehensive income (loss)	$3,173	($4,006)	$3,771	($5,240)

4_Condensed Consolidated Statem

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Millions	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Operating Activities
Net loss	($1,444)	($1,943)
Adjustments to reconcile net loss to net cash provided by operating activities
Amortization of deferred policy acquisition costs and present value of future profits	3,620	3,201
Additions to deferred policy acquisition costs and present value of future profits	(2,155)	(2,837)
Change in reserve for future policy benefits and unpaid losses and loss adjustment expenses and unearned premiums	903	1,689
Change in reinsurance recoverables	152	(19)
Change in receivables and other assets	212	646
Change in payables and accruals	(600)	(673)
Change in accrued and deferred income taxes	(252)	(1,604)
Net realized capital losses	1,816	5,102
Net receipts from investment contracts related to policyholder funds - International variable annuities	2,691	1,740
Net increase in equity securities, trading	(2,694)	(1,799)
Depreciation and amortization	360	263
Goodwill impairment	32	0
Other operating activities, net	104	(828)
Net cash provided by operating activities	2,745	2,938
Proceeds from the sale/maturity/prepayment of:
Fixed maturities, available-for-sale	41,749	17,523
Equity securities, available-for-sale	598	995
Mortgage loans	480	351
Partnerships	405	130
Payments for the purchase of:
Fixed maturities, available-for-sale	(42,990)	(19,392)
Equity securities, available-for-sale	(284)	(689)
Mortgage loans	(249)	(1,161)
Partnerships	(228)	(556)
Derivative payments, net	(540)	(57)
Purchase price of businesses acquired	(15)	(94)
Change in policy loans, net	(1)	(98)
Change in payables for collateral under securities lending, net	(2,771)	(339)
Other investing activities, net	25	(662)
Net cash used for investing activities	(3,821)	(4,049)
Financing Activities
Deposits and other additions to investment and universal life-type contracts	11,158	15,752
Withdrawals and other deductions from investment and universal life-type contracts	(18,528)	(20,276)
Net transfers from separate accounts related to investment and universal life-type contracts	5,418	5,584
Proceeds from issuance of long-term debt	0	1,487
Repayments at maturity for long-term debt and payments on capital lease obligations	(24)	(462)
Change in short-term debt	(375)	0
Net issuance (repayments) at maturity or settlement of consumer notes	(17)	416
Proceeds from issuance of preferred stock and warrants to U.S. Treasury	3,400	0
Net proceeds from issuance of shares under discretionary equity issuance plan	887	0
Proceeds from net issuance of shares under incentive and stock compensation plans and excess tax benefit	18	34
Treasury stock acquired	0	(1,000)
Dividends paid on preferred stock	(31)	0
Dividends paid on common stock	(129)	(501)
Changes in bank deposits and payments on bank advances	(85)	0
Net cash provided by financing activities	1,692	1,034
Foreign exchange rate effect on cash	(10)	29
Net increase (decrease) in cash	606	(48)
Cash - beginning of period	1,811	2,011
Cash - end of period	2,417	1,963
Net Cash Paid (Received) During the Period For:
Income taxes	(392)	232
Interest	$303	$186

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies
	9 Months Ended Sep. 30, 2009 USD / shares
Basis of Presentation and Accounting Policies [Abstract]
Basis of Presentation and Accounting Policies	1. Basis of Presentation and Accounting Policies Basis of Presentation The Hartford Financial Services Group, Inc. is a financial holding company for a group of subsidiaries that provide investment products and life and property and casualty insurance to both individual and business customers in the United States and internationally (collectively, The Hartford or the Company). During the second quarter of 2009, the Company acquired Federal Trust Corporation and became a savings and loan holding company, see Note 16 for further information on the acquisition. The Condensed Consolidated Financial Statements have been prepared on the basis of accounting principles generally accepted in the United States of America (U.S. GAAP), which differ materially from the accounting practices prescribed by various insurance regulatory authorities. The accompanying Condensed Consolidated Financial Statements and notes as of September30, 2009, and for the three and nine months ended September30, 2009 and 2008 are unaudited. These financial statements reflect all adjustments (consisting only of normal accruals) which are, in the opinion of management, necessary for the fair presentation of the financial position, results of operations and cash flows for the interim periods. These Condensed Consolidated Financial Statements and notes should be read in conjunction with the consolidated financial statements and notes thereto included in The Hartfords 2008 Form 10-K Annual Report. The results of operations for the interim periods should not be considered indicative of the results to be expected for the full year. Consolidation The Condensed Consolidated Financial Statements include the accounts of The Hartford Financial Services Group, Inc., companies in which the Company directly or indirectly has a controlling financial interest and those variable interest entities in which the Company is the primary beneficiary. The Company determines if it is the primary beneficiary using both qualitative and quantitative analyses. Entities in which The Hartford does not have a controlling financial interest but in which the Company has significant influence over the operating and financing decisions are reported using the equity method. Material intercompany transactions and balances between The Hartford and its subsidiaries and affiliates have been eliminated. Use of Estimates The preparation of financial statements, in conformity with U.S. GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates include those used in determining property and casualty reserves, net of reinsurance; life estimated gross profits used in the valuation and amortization of assets and liabilities associated with variable annuity and other universal life-type contracts; living benefits required to be fair valued; valuation of investments and derivative ins

Earnings

Earnings (Loss) Per Share
	9 Months Ended Sep. 30, 2009 USD / shares
Earnings (Loss) Per Share [Abstract]
Earnings (Loss) Per Share	2. Earnings (Loss) Per Share The following table presents a reconciliation of net loss and shares used in calculating basic earnings (loss)per common share to those used in calculating diluted earnings (loss)per common share. Three Months Ended Nine Months Ended September 30, September 30, (In millions, except for per share data) 2009 2008 2009 2008 Income (loss) Net loss $ (220 ) $ (2,631 ) $ (1,444 ) $ (1,943 ) Less: Preferred stock dividends and accretion of discount 62 65 Net loss available to common shareholders $ (282 ) $ (2,631 ) $ (1,509 ) $ (1,943 ) Common shares Basic Weighted average common shares outstanding 356.1 301.1 334.1 308.8 Diluted Weighted average shares outstanding and dilutive potential common shares 356.1 301.1 334.1 308.8 Earnings (loss)per common share Basic $ (0.79 ) $ (8.74 ) $ (4.52 ) $ (6.29 ) Diluted $ (0.79 ) $ (8.74 ) $ (4.52 ) $ (6.29 ) As a result of the net loss in the three months ended September30, 2009 and 2008, the Company is required to use basic weighted average common shares outstanding in the calculation of the three months ended September30, 2009 and 2008 diluted loss per share, since the inclusion of shares for warrants of 25.3million and 0, respectively, and stock compensation plans of 1.1million and 1.0 million, respectively, would have been antidilutive to the earnings per share calculation. In the absence of the net loss, weighted average common shares outstanding and dilutive potential common shares would have totaled 382.5million and 302.1million for the three months ended September30, 2009 and 2008, respectively. As a result of the net loss in the nine months ended September30, 2009 and 2008, the Company is required to use basic weighted average common shares outstanding in the calculation of the nine months ended September30, 2009 and 2008 diluted loss per share, since the inclusion of shares for warrants of 8.7million and 0, respectively, and stock compensation plans of 0.8million and 1.5 million, respectively, would have been antidilutive to the earnings per share calculation. In the absence of the net loss, weighted average common shares outstanding and dilutive potential common shares would have totaled 343.6million and 310.3million, respectively.

Segment Information

Segment Information
	9 Months Ended Sep. 30, 2009 USD / shares
Segment Information [Abstract]
Segment Information	3. Segment Information The Hartford is organized into two major operations: Life and Property Casualty, each containing reporting segments. Within the Life and Property Casualty operations, The Hartford conducts business principally in eleven reporting segments. Corporate primarily includes the Companys debt financing and related interest expense, as well as other capital raising activities, banking operations and certain purchase accounting adjustments. Life Life is organized into four groups which are comprised of six reporting segments: The Retail Products Group (Retail) and Individual Life segments make up the Individual Markets Group. The Retirement Plans and Group Benefits segments make up the Employer Markets Group. The International and Institutional Solutions Group (Institutional) segments each make up their own group. Life charges direct operating expenses to the appropriate segment and allocates the majority of indirect expenses to the segments based on an intercompany expense arrangement. Inter-segment revenues primarily occur between Lifes Other category and the reporting segments. These amounts primarily include interest income on allocated surplus and interest charges on excess separate account surplus. In addition, during the first quarter of 2009, Institutional and International entered into a $1.5billion funding agreement. The resulting interest income and interest expense in International and Institutional, respectively, are eliminated in consolidation. Property Casualty Property Casualty is organized into five reporting segments: the underwriting segments of Personal Lines, Small Commercial, Middle Market and Specialty Commercial (collectively, Ongoing Operations); and the Other Operations segment. For the three months ended September30, 2009 and 2008, AARP accounted for earned premiums of $712 and $695, respectively, in Personal Lines. For both the nine months ended September30, 2009 and 2008, AARP accounted for earned premiums of $2.1 billion in Personal Lines. Through inter-segment arrangements, Specialty Commercial reimburses Personal Lines, Small Commercial and Middle Market for losses incurred from uncollectible reinsurance and losses incurred under certain liability claims. Earned premiums assumed (ceded)under the inter-segment arrangements were as follows: Three Months Ended Nine Months Ended Net assumed (ceded) earned premiums under September 30, September 30, inter-segment arrangements 2009 2008 2009 2008 Personal Lines $ (1 ) $ (1 ) $ (4 ) $ (4 ) Small Commercial (6 ) (8 ) (18 ) (23 ) Middle Market (6 ) (8 ) (17 ) (24 ) Specialty Commercial 13 17 39 51 Total $ $ $ $ Financial Measures and Other Segment Information For further discussion of the types of products offered by each segment, see Note 3 of Notes to Consolidated Financial Statements included in The Hartfords 2008 Form 10-K Annual Report. One of the measures of profit or loss used by The Hartfords

Fair Value Measurements

Fair Value Measurements
	9 Months Ended Sep. 30, 2009 USD / shares
Fair Value Measurements [Abstract]
Fair Value Measurements	4. Fair Value Measurements The following financial instruments are carried at fair value in the Companys Condensed Consolidated Financial Statements: fixed maturities and equity securities, available-for-sale (AFS), equity securities, trading, short-term investments, freestanding and embedded derivatives, and separate account assets. The following section applies the fair value hierarchy and disclosure requirements for the Companys financial instruments that are carried at fair value. The fair value hierarchy prioritizes the inputs in the valuation techniques used to measure fair value into three broad Levels (Level 1, 2 or 3). Level 1 Observable inputs that reflect quoted prices for identical assets or liabilities in active markets that the Company has the ability to access at the measurement date. Level 1 securities include highly liquid U.S. Treasuries, money market funds and exchange traded equity, open-ended mutual funds reported in separate account assets and derivative securities, including futures and certain option contracts. Level 2 Observable inputs, other than quoted prices included in Level 1, for the asset or liability or prices for similar assets and liabilities. Most debt securities and preferred stocks, including those reported in separate account assets, are model priced by vendors using observable inputs and are classified within Level 2. Also included in the Level 2 category are derivative instruments that are priced using models with significant observable market inputs, including interest rate, foreign currency and certain credit swap contracts and have no significant unobservable market inputs. Level 3 Valuations that are derived from techniques in which one or more of the significant inputs are unobservable (including assumptions about risk). Level 3 securities include less liquid securities such as highly structured and/or lower quality asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), commercial real estate (CRE) CDOs, residential mortgage-backed securities (RMBS) primarily backed by below-prime loans, and private placement debt and equity securities. Embedded derivatives, including GMWB liabilities, and complex derivatives securities, including equity derivatives, longer dated interest rate swaps or swaps with optionality and certain complex credit derivatives are also included in Level 3. Because Level 3 fair values, by their nature, contain unobservable market inputs as there is little or no observable market for these assets and liabilities, considerable judgment is used to determine the Level 3 fair values. Level 3 fair values represent the Companys best estimate of an amount that could be realized in a current market exchange absent actual market exchanges. In many situations, inputs used to measure the fair value of an asset or liability position may fall into different levels of the fair value hierarchy. In these situations, the Company will determine the level in which the fair value falls based upon the lowest level input that is significant to the determination of the fair value. In most cases, both observable (e.g., changes

Investments and Derivative Inst

Investments and Derivative Instruments
	9 Months Ended Sep. 30, 2009 USD / shares
Investments and Derivative Instruments [Abstract]
Investments and Derivative Instruments	5. Investments and Derivative Instruments Available-for-Sale Securities The following table presents the Companys AFS securities by type. September 30, 2009 December 31, 2008 Cost or Gross Gross Non- Cost or Gross Gross Amortized Unrealized Unrealized Fair Credit Amortized Unrealized Unrealized Fair Cost Gains Losses Value OTTI 1 Cost Gains Losses Value ABS $ 3,130 $ 48 $ (638 ) $ 2,540 $ (53 ) $ 3,431 $ 6 $ (971 ) $ 2,466 CDOs 4,283 30 (1,495 ) 2,818 (164 ) 4,655 2 (2,045 ) 2,612 CMBS 11,692 149 (2,839 ) 9,002 9 12,973 43 (4,703 ) 8,313 Corporate 34,224 1,597 (1,810 ) 34,011 (21 ) 31,059 623 (4,501 ) 27,181 Foreign govt./govt. agencies 1,021 63 (13 ) 1,071 2 2,786 100 (65 ) 2,821 RMBS 5,807 118 (1,104 ) 4,821 (135 ) 6,045 96 (1,033 ) 5,108 States, municipalities and political subdivisions 11,595 488 (268 ) 11,815 (1 ) 11,406 202 (953 ) 10,655 U.S. Treasuries 2,677 37 (151 ) 2,563 5,883 112 (39 ) 5,956 Total fixed maturities 74,429 2,530 (8,318 ) 68,641 (363 ) 78,238 1,184 (14,310 ) 65,112 Equity securities 1,403 268 (274 ) 1,397 1,554 203 (299 ) 1,458 Total AFS securities $ 75,832 $ 2,798 $ (8,592 ) $ 70,038 $ (363 ) $ 79,792 $ 1,387 $ (14,609 ) $ 66,570 1 Represents the amount of cumulative non-credit OTTI losses recognized in other comprehensive loss on securities that also had a credit impairment. These losses are included in gross unrealized losses as of September30, 2009. The Company participates in securities lending programs to generate additional income. Through these programs, certain domestic fixed income securities are loaned from the Companys portfolio to qualifying third party borrowers in return for collateral in the form of cash or U.S. Treasuries. As of September30, 2009 and December31, 2008, under terms of securities lending programs, the fair value of loaned securities was approximately $209 and $2.9billion, respectively, which was included in fixed maturities in the Condensed Consolidated Balance Sheets. As of September30, 2009 and December31, 2008, the Company held collateral associated with the loaned securities in the amount of $213 and $3.0billion, respectively. The decrease in both the fair value of loaned securities and the associated collateral is attributable to the maturation of the loans in the term lending program throughout 2009. The following table pre

Deferred Policy Acquisition Cos

Deferred Policy Acquisition Costs and Present Value of Future Profits
	9 Months Ended Sep. 30, 2009 USD / shares
Deferred Policy Acquisition Costs and Present Value of Future Profits [Abstract]
Deferred Policy Acquisition Costs and Present Value of Future Profits	6. Deferred Policy Acquisition Costs and Present Value of Future Profits Changes in deferred policy acquisition costs and present value of future profits by Life and Property Casualty were as follows: Life Unlock Results During the second quarter of 2009, the Company revised its estimation of future gross profits using a Reversion to Mean (RTM) estimation technique to estimate future separate account returns. RTM is an estimation technique commonly used by insurance entities to project future separate account returns. Through this estimation technique, the Companys DAC model will be adjusted to reflect actual account values at the end of each quarter and through a consideration of recent returns, we will adjust future projected returns over a five year period so that the account value returns to the long-term expected rate of return, providing that those projected returns for the next five years do not exceed certain caps or floors. This will result in a DAC Unlock, described below, each quarter. However, benefits and assessments used in the determination of death benefits and other insurance benefit reserves, on variable annuity and universal life contracts which are in addition to the account value liability representing the policyholders funds, will be derived from a set of stochastic scenarios that have been calibrated to our RTM separate account returns. Refer to Note 7 for further information on death benefits and other insurance benefit reserves. In addition, at a minimum, annually during third quarter, the Company completes non-market related assumptions studies and incorporates the results of those studies into its projection of future gross profits. The policy related in-force or account values at September30, 2009 were used to project future gross profits using the RTM separate account return estimate. During the third quarter of 2009, the Company recorded an Unlock benefit of $63. This Unlock benefit included the effect of strong equity market returns generating an Unlock benefit of $228, offset by changes in non-market related assumptions generating an Unlock charge of $165. The Unlock benefit resulting from equity market growth was less than that recorded in the second quarter of 2009 despite comparable returns of the SP 500. This decline was primarily due to actual Company separate account returns earning less than in the second quarter and, as equity markets rise, a slower decline in expected death benefits as policyholders become less in-the-money. Unlock charges from non-market assumption changes were primarily driven by the Companys estimate of higher assumed macro hedge program costs in 2010. Other significant assumption changes included decreases in mortality, increases in credit loss estimates and declines in net investment spread. The Company is continually evaluating various aspects of policyholder behavior and may modify certain of its assumptions, including living benefit lapses and withdrawal rates, if credible emerging data indicates that changes are warranted. The following table displays the components, by segment, of the Companys third quarter Unlock.

Separate Accounts, Death Benefi

Separate Accounts, Death Benefits and Other Insurance Benefit Features
	9 Months Ended Sep. 30, 2009 USD / shares
Separate Accounts, Death Benefits and Other Insurance Benefit Features [Abstract]
Separate Accounts, Death Benefits and Other Insurance Benefit Features	7. Separate Accounts, Death Benefits and Other Insurance Benefit Features The Company records the variable portion of individual variable annuities, 401(k), institutional, 403(b)/457, private placement life and variable life insurance products within separate account assets and liabilities. Separate account assets are reported at fair value. Separate account liabilities are set equal to separate account assets. Separate account assets are segregated from other investments. Investment income and gains and losses from those separate account assets, which accrue directly to, and whereby investment risk is borne by the policyholder, are offset by the related liability changes within the same line item in the Condensed Consolidated Statements of Operations. The fees earned for administrative and contract holder maintenance services performed for these separate accounts are included in fee income. For the three and nine months ended September30, 2009 and 2008, there were no gains or losses on transfers of assets from the general account to the separate account. Many of the variable annuity and universal life (UL) contracts issued by the Company offer death benefits and other insurance benefit features including GMDB, GMIB, and UL secondary guarantee benefits. UL secondary guarantee benefits ensure that the policy will not terminate, and will continue to provide a death benefit, even if there is insufficient policy value to cover the monthly deductions and charges. GMDBs and GMIBs are offered in various forms as described in further detail throughout this Note 7. These death benefits and other insurance benefit features, on variable annuity and universal life contracts, require an additional liability be held above the account value liability representing the policyholders funds. The Company reinsures a portion of the GMDBs and UL secondary guarantees associated with its in-force block of business. Changes in the gross U.S. GMDB, Japan GMDB/GMIB, and UL secondary guarantee benefits sold with variable annuity and UL products are as follows: UL Secondary U.S. GMDB 1 Japan GMDB/GMIB 1 Guarantees 1 Liability balance as of January1, 2009 $ 870 $ 229 $ 40 Incurred 243 62 21 Paid (387 ) (89 ) Unlock 519 327 5 Currency translation adjustment 62 Liability balance as of September30, 2009 $ 1,245 $ 591 $ 66 1 The reinsurance recoverable asset related to the U.S. GMDB was $802 as of September30, 2009. The reinsurance recoverable asset related to the Japan GMDB was $42 as of September 30, 2009. The reinsurance recoverable asset related to the UL secondary guarantees was $20 as of September30, 2009. UL Secondary U.S. GMDB 1 Japan GMDB/GMIB 1 Guarantees 1 Liability balance as of January1, 2008 $ 529 $ 42 $ 19 Incurred 127 21 16 Paid (127 ) (19 ) Unlock 389 164 Currency translation adjustment 4

Sales Inducements

Sales Inducements
	9 Months Ended Sep. 30, 2009 USD / shares
Sales Inducements [Abstract]
Sales Inducements	8. Sales Inducements The Company currently offers enhanced crediting rates or bonus payments to contract holders on certain of its individual and group annuity products. The expense associated with offering a bonus is deferred and amortized over the life of the related contract in a pattern consistent with the amortization of deferred policy acquisition costs. Consistent with the Companys Unlocks in the nine months ended September30, 2009, the Company unlocked the amortization of the sales inducement asset. See Note 6 for more information concerning the Unlocks. Changes in deferred sales inducement activity were as follows for the nine months ended September 30: 2009 2008 Balance, January 1 $ 553 $ 467 Sales inducements deferred 48 128 Amortization (94 ) 13 Amortization Unlock (73 ) (43 ) Balance, September 30 $ 434 $ 565

Commitments and Contingencies

Commitments and Contingencies
	9 Months Ended Sep. 30, 2009 USD / shares
Commitments and Contingencies [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Litigation The Hartford is involved in claims litigation arising in the ordinary course of business, both as a liability insurer defending or providing indemnity for third-party claims brought against insureds and as an insurer defending coverage claims brought against it. The Hartford accounts for such activity through the establishment of unpaid loss and loss adjustment expense reserves. Subject to the uncertainties discussed below under the caption Asbestos and Environmental Claims, management expects that the ultimate liability, if any, with respect to such ordinary-course claims litigation, after consideration of provisions made for potential losses and costs of defense, will not be material to the consolidated financial condition, results of operations or cash flows of The Hartford. The Hartford is also involved in other kinds of legal actions, some of which assert claims for substantial amounts. These actions include, among others, putative state and federal class actions seeking certification of a state or national class. Such putative class actions have alleged, for example, underpayment of claims or improper underwriting practices in connection with various kinds of insurance policies, such as personal and commercial automobile, property, life and inland marine; improper sales practices in connection with the sale of life insurance and other investment products; and improper fee arrangements in connection with investment products and structured settlements. The Hartford also is involved in individual actions in which punitive damages are sought, such as claims alleging bad faith in the handling of insurance claims. Like many other insurers, The Hartford also has been joined in actions by asbestos plaintiffs asserting, among other things, that insurers had a duty to protect the public from the dangers of asbestos and that insurers committed unfair trade practices by asserting defenses on behalf of their policyholders in the underlying asbestos cases. Management expects that the ultimate liability, if any, with respect to such lawsuits, after consideration of provisions made for estimated losses, will not be material to the consolidated financial condition of The Hartford. Nonetheless, given the large or indeterminate amounts sought in certain of these actions, and the inherent unpredictability of litigation, an adverse outcome in certain matters could, from time to time, have a material adverse effect on the Companys consolidated results of operations or cash flows in particular quarterly or annual periods. Broker Compensation Litigation Following the New York Attorney Generals filing of a civil complaint against Marsh McLennan Companies, Inc., and Marsh, Inc. (collectively, Marsh) in October2004 alleging that certain insurance companies, including The Hartford, participated with Marsh in arrangements to submit inflated bids for business insurance and paid contingent commissions to ensure that Marsh would direct business to them, private plaintiffs brought several lawsuits against the Company predicated on the allegations in the Marsh complaint, to which the Company was not p

Pension Plans and Postretiremen

Pension Plans and Postretirement Health Care and Life Insurance Benefit Plans
	9 Months Ended Sep. 30, 2009 USD / shares
Pension Plans and Postretirement Health Care and Life Insurance Benefit Plans [Abstract]
Pension Plans and Postretirement Health Care and Life Insurance Benefit Plans	10. Pension Plans and Postretirement Health Care and Life Insurance Benefit Plans Components of Net Periodic Benefit Cost Total net periodic benefit cost for the three months ended September30, 2009 and 2008 include the following components: Pension Benefits Other Postretirement Benefits 2009 2008 2009 2008 Service cost $ 27 $ 30 $ 2 $ 2 Interest cost 61 57 6 5 Expected return on plan assets (69 ) (69 ) (4 ) (3 ) Amortization of prior service credit (2 ) (2 ) Amortization of actuarial loss 19 15 Net periodic benefit cost $ 36 $ 31 $ 4 $ 4 Total net periodic benefit cost for the nine months ended September30, 2009 and 2008 include the following components: Pension Benefits Other Postretirement Benefits 2009 2008 2009 2008 Service cost $ 79 $ 90 $ 5 $ 5 Interest cost 182 171 18 17 Expected return on plan assets (206 ) (207 ) (9 ) (9 ) Amortization of prior service credit (7 ) (7 ) (1 ) (1 ) Amortization of actuarial loss 56 44 Net periodic benefit cost $ 104 $ 91 $ 13 $ 12 Employer Contributions In August2009, the Company, at its discretion, made a $120 contribution to the U.S. qualified defined benefit pension plan (the Plan). For 2009, the Company does not have a required minimum funding contribution for the Plan and the funding requirements for all of the pension plans are expected to be immaterial.

Stock Compensation Plans

Stock Compensation Plans
	9 Months Ended Sep. 30, 2009 USD / shares
Stock Compensation Plans [Abstract]
Stock Compensation Plans	11. Stock Compensation Plans The Company has two primary stock-based compensation plans, The Hartford 2005 Incentive Stock Plan and The Hartford Employee Stock Purchase Plan. For a description of these plans, see Note 18 of Notes to Consolidated Financial Statements included in The Hartfords 2008 Form 10-K Annual Report. Shares issued in satisfaction of stock-based compensation may be made available from authorized but unissued shares, shares held by the Company in treasury or from shares purchased in the open market. The Company typically issues shares from treasury in satisfaction of stock-based compensation. The compensation expense recognized for the stock-based compensation plans was $32 and $11 for the three months ended September30, 2009 and 2008, respectively. The compensation expense recognized for the stock-based compensation plans was $54 and $49 for the nine months ended September30, 2009 and 2008, respectively. The income tax benefit recognized for stock-based compensation plans was $8 and $3 for the three months ended September30, 2009 and 2008, respectively. The income tax benefit recognized for stock-based compensation plans was $14 and $15 for the nine months ended September30, 2009 and 2008, respectively. The Company did not capitalize any cost of stock-based compensation. As of September30, 2009, the total compensation cost related to non-vested awards not yet recognized was $123, which is expected to be recognized over a weighted average period of 2.3years. Effective July31, 2009, the Compensation and Personnel Committee of the Board authorized The Hartford Deferred Stock Unit Plan (Deferred Stock Unit Plan), and, on October22, 2009, it was amended. The Deferred Stock Unit Plan provides for contractual rights to receive cash payments based on the value of a specified number of shares of stock. The Deferred Stock Unit Plan provides for two award types, Deferred Units and Restricted Units. Deferred Units are earned ratably over a year, based on the number of regular pay periods occurring during such year. Deferred Units are credited to the participants account on a quarterly basis based on the market price of the Companys common stock on the date of grant and are fully vested at all times. Deferred Units credited to employees prior to January1, 2010 (other than senior executive officers hired on or after October1, 2009) are not paid until after two years from their grant date. Deferred Units credited on or after January1, 2010 (and any credited to senior executive officers hired on or after October1, 2009) are paid in three equal installments after the first, second and third anniversaries of their grant date. Restricted Units are intended to be incentive compensation and unlike Deferred Units, vest over time, generally three years, and are subject to forfeiture. The Deferred Stock Unit Plan is structured consistent with the limitations and restrictions on employee compensation arrangements imposed by the Emergency Economic Stabilization Act of 2008 and the TARP Standards for Compensation and Corporate Governance Interim Final Rule issued by the U.S. Department of Treasury on June10, 2009.

Debt

Debt
	9 Months Ended Sep. 30, 2009 USD / shares
Debt [Abstract]
Debt	12. Debt Commercial Paper The Federal Reserve Board authorized the Commercial Paper Funding Facility (CPFF) on October7, 2008 under Section13(3) of the Federal Reserve Act to provide a liquidity backstop to U.S. issuers of commercial paper. As a result of ratings downgrades in the first quarter of 2009, the Company was required to pay the commercial paper issued under the CPFF program from existing sources of liquidity. As of April30, 2009, the Company has repaid commercial paper of $375, representing the full amount issued under the CPFF, at their maturity dates. As of September30, 2009, the Company has no outstanding commercial paper.

Equity

Equity
	9 Months Ended Sep. 30, 2009 USD / shares
Equity [Abstract]
Equity	13. Equity Stockholders Equity Conversion of outstanding preferred to common stock On January9, 2009, Allianz SE converted its 6,048,387 shares of SeriesD Preferred Stock into 24,193,548 shares of common stock. Conversion of preferred stock underlying Allianz warrants to common stock On March26, 2009, the Companys shareholders approved the conversion of the SeriesC Preferred Stock underlying certain warrants issued to Allianz in October2008 into 34,308,872 shares of The Hartfords common stock. As a result of this shareholder approval, the Company is not obligated to pay Allianz any cash payment related to these warrants and therefore these warrants no longer provide for any form of net cash settlement outside the Companys control. As such, the warrants to purchase the SeriesC Preferred Stock were reclassified from other liabilities to equity at their fair value. As of March26, 2009, the fair value of these warrants was $93. For the nine months ended September30, 2009, the Company recognized a gain of $70, representing the change in fair value of the warrants through March26, 2009. Increase in authorized shares On May27, 2009, at the Companys annual meeting of shareholders, shareholders approved an increase in the aggregate authorized number of shares of common stock from 750million to 1.5billion. The Companys participation in the Capital Purchase Program On June26, 2009, as part of the Capital Purchase Program (CPP) established by the U.S. Department of the Treasury (Treasury) under the Emergency Economic Stabilization Act of 2008 (the EESA), the Company entered into a Private Placement Purchase Agreement with Treasury pursuant to which the Company issued and sold to Treasury 3,400,000 shares of the Companys Fixed Rate Cumulative Perpetual Preferred Stock, SeriesE, having a liquidation preference of $1,000 per share (the SeriesE Preferred Stock), and a ten-year warrant to purchase up to 52,093,973 shares of the Companys common stock, par value $0.01 per share, at an initial exercise price of $9.79 per share, for an aggregate purchase price of $3.4billion. Cumulative dividends on the SeriesE Preferred Stock will accrue on the liquidation preference at a rate of 5% per annum for the first five years, and at a rate of 9% per annum thereafter. The Series E Preferred Stock has no maturity date and ranks senior to the Companys common stock. The Series E Preferred Stock is non-voting. The Company may redeem the SeriesE Preferred Stock with the consent of the Office of Thrift Supervisor, after consultation with the U.S. Treasury. Upon issuance, the fair values of the SeriesE Preferred Stock and the associated warrants were computed as if the instruments were issued on a stand alone basis. The fair value of the SeriesE Preferred stock was estimated based on a five-year holding period and cash flows discounted at a rate of 13% resulting in a fair value estimate of approximately $2.5billion. The Company used a Black-Scholes options pricing model including an adjustment for American-style options to estimate the fair value of the warrants, resulting in a stand alone fair value of approximately $400. The most sign

Goodwill

Goodwill
	9 Months Ended Sep. 30, 2009 USD / shares
Goodwill [Abstract]
Goodwill	14. Goodwill The carrying amount of goodwill allocated to reporting segments as of September30, 2009 and December31, 2008 is shown below. September 30, December 31, 2009 2008 Life Retail $ 159 $ 159 Individual Life 224 224 Retirement Plans 87 79 Total Life 470 462 Property Casualty Personal Lines 119 119 Specialty Commercial 30 30 Total Property Casualty 149 149 Corporate 585 449 Total Goodwill $ 1,204 $ 1,060 The Companys goodwill impairment test performed during the first quarter of 2009 for the Life reporting units, resulted in a write-down of $32 in the Institutional reporting unit of Corporate. Goodwill within Corporate is primarily attributed to the Companys buy-back of Life in 2000 and is allocated to the various Life reporting units. As a result of rating agency downgrades of Lifes financial strength ratings during the first quarter of 2009 and high credit spreads related to The Hartford, during the first quarter of 2009, the Company believed its ability to generate new business in the Institutional reporting unit would remain pressured for ratings-sensitive products. The Company believed goodwill associated with the Institutional line of business was impaired due to the pressure on new sales for Institutionals ratings-sensitive business and the significant unrealized losses in Institutionals investment portfolios. On June24, 2009, the Company completed the acquisition of Federal Trust Corporation, which resulted in additional goodwill of $168 in Corporate.

Sale of First State Management

Sale of First State Management Group
	9 Months Ended Sep. 30, 2009 USD / shares
Sale of First State Management Group [Abstract]
Sale of First State Management Group	15. Sale of First State Management Group On March31, 2009, the Company sold First State Management Group, Inc. (FSMG), its core excess and surplus lines property business, to Beazley Group PLC (Beazley) for $27, resulting in a gain on sale of $18, before-tax, and $12, after-tax. Included in the sale were approximately $4 in net assets of FSMG and the sale price is adjustable subsequent to closing based on the value of the net assets at the closing date. The net assets sold to Beazley did not include invested assets, unearned premium or deferred policy acquisition costs related to the in-force book of business. Rather, the in-force book of business was ceded to Beazley under a separate reinsurance agreement, whereby the Company ceded $26 of unearned premium, net of $10 in ceding commission. Under the terms of the purchase and sale agreement, the Company continues to be obligated for all losses and loss adjustment expenses incurred on or before March31, 2009. The retained net loss and loss adjustment expense reserves totaled $138 as of September30, 2009.

Acquisition of Federal Trust Co

Acquisition of Federal Trust Corporation
	9 Months Ended Sep. 30, 2009 USD / shares
Acquisition of Federal Trust Corporation [Abstract]
Acquisition of Federal Trust Corporation	16. Acquisition of Federal Trust Corporation On June24, 2009, the Company acquired 100% of the equity interests in Federal Trust Corporation (FTC), a savings and loan holding company, for $10, enabling the Company to participate in the CPP. The acquisition resulted in goodwill of $168. The goodwill generated, which is tax deductible, was due, in part, to the fair value discount on mortgage loans acquired in comparison to their expected cash flows. Mortgage loans acquired were fair valued at $288. Contractual cash flows from the mortgage loans acquired were $450. The Companys best estimate of contractual cash flows not expected to be collected at the acquisition date was $129. Other assets acquired included $27 of fixed maturity securities, $46 of short-term investments and $3 of cash. Liabilities assumed included other liabilities of $389 in bank deposits and $149 in Federal Home Loan Bank advances and long-term debt of $25. The acquired assets and liabilities have been stated at fair value. The Company contributed $185 to FTC in June2009 and received $20 in full repayment of amounts lent to FTC in March2009. In the third quarter of 2009, The Hartford contributed an additional $10 to FTC. Revenue and earnings of FTC are immaterial to the Companys consolidated financial statements. Federal Trust Bank, an indirect wholly-owned subsidiary, (the Bank) is subject to certain restrictions on the amount of dividends that it may declare and distribute to The Hartford without prior regulatory notification or approval. The Bank is also subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Banks financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Banks assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Banks capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. The following tables summarize the capital thresholds for the minimum and well capitalized designations at September30, 2009. An institutions capital category is based on whether it meets the threshold for all three capital ratios within the category. At September30, 2009, the Banks Tier 1 capital ratio was 7.1%. The Bank was designated as a well capitalized institution at September30, 2009. To Be Well Capitalized Under Prompt For Minimum Capital Corrective Action Actual Adequacy Purposes Provisions At September 30, 2009 Amount % Amount % Amount % Total capital (to risk-weighted assets) $ 35.5 14.7 % $ 19.4 8 % $ 24.2 10 % Tier I capital (to risk

Restructuring Severance and Oth

Restructuring Severance and Other Costs
	9 Months Ended Sep. 30, 2009 USD / shares
Restructuring, Severance and Other Costs [Abstract]
Restructuring, Severance and Other Costs	17. Restructuring, Severance and Other Costs During the nine months ended September30, 2009, the Company completed a review of several strategic alternatives with a goal of preserving capital, reducing risk and stabilizing its ratings. These alternatives included the potential restructuring, discontinuation or disposition of various business lines. Following that review, the Company announced that it would suspend all new sales in Internationals Japan and European operations. The Company has also begun to execute on plans to change the management structure of the organization and fundamentally reorganize the nature and focus of the Companys operations. These plans will result in termination benefits to current employees, costs to terminate leases and other contracts and asset impairment charges. The Company intends to complete these restructuring activities and execute final payment by December 2010. Termination benefits related to workforce reductions and lease and other contract terminations have been accrued through September30, 2009. Additional lease terminations are expected to be accrued in subsequent quarters, as appropriate. Asset impairment charges have been and will be recorded in subsequent quarters, as appropriate. The following pre-tax charges were incurred during the three months ended September30, 2009 in connection with the restructuring initiatives previously announced: Severance benefits $ 7 Asset impairment charges 10 Other contract termination charges 8 Total severance and other costs for the three months ended September30, 2009 $ 25 As of September30, 2009 the liability for other contract termination charges was $8 as there were no payments made during the three months ended September30, 2009 for these charges. The $25 incurred during the three months ended September30, 2009 was recorded in other expenses with approximately $18 recorded in the Life Other segment, $6 recorded in the Corporate segment and $1 recorded in the Property Casualty operation. The following pre-tax charges were incurred during the nine months ended September30, 2009 in connection with the restructuring initiatives previously announced: Severance benefits $ 50 Asset impairment charges 47 Other contract termination charges 8 Total severance and other costs for the nine months ended September30, 2009 $ 105 It is expected that the total costs associated with restructuring, severance and other costs will be approximately $150 $160, pre-tax, with the additional costs attributable mainly to the costs to exit various contracts.

Subsequent Event

Subsequent Event
	9 Months Ended Sep. 30, 2009 USD / shares
Subsequent Event [Abstract]
Subsequent Event	18. Subsequent Event In October2009, the Company sold its equity securities (17million shares) in Verisk Analytics, Inc. (Verisk) for $360, pre-tax, as part of Verisks initial public offering. As a result of the sale, the Company expects to record a net realized capital gain in the fourth quarter of 2009 associated with this transaction of approximately $234, after-tax. The Company expects to reverse unrealized gains recorded in AOCI of $111, after-tax, as a result of the sale.