================================================================================
FORM 11-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the year ended December 30, 2000
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ____________ to ______________
Commission file number 0-19277
A. Full title of Plan and the address of the Plan, if different from that of the
issuer named below:
THE HARTFORD INVESTMENT AND SAVINGS PLAN
B. Name of issuer of the securities held pursuant to the Plan and the address of
its principal executive office:
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
HARTFORD PLAZA, HARTFORD, CONNECTICUT 06115-1900
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THE HARTFORD INVESTMENT AND SAVINGS PLAN
CONTENTS
DECEMBER 30, 2000 AND 1999
Pages
-----
Report of Independent Public Accountants F-1
Statements of Net Assets Available for Benefits as of
December 30, 2000 and 1999 F-2
Statements of Changes in Net Assets Available for Benefits for
the Years Ended December 30, 2000 and 1999 F-3
Notes to Financial Statements F-4 - F-9
Schedule of Assets Held for Investment Purposes as of
December 30, 2000 F-10 - F-12
Schedule of Reportable Transactions for the Year Ended
December 30, 2000 F-13
Signature F-14
Exhibit 1 - Consent of Independent Public Accountants F-15
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To The Hartford Financial Services Group, Inc.:
We have audited the accompanying Statements of Net Assets Available for Benefits
of The Hartford Investment and Savings Plan as of December 30, 2000 and 1999,
and the related Statements of Changes in Net Assets Available for Benefits for
the years then ended. These financial statements and the schedules referred to
below are the responsibility of the Plan's management. Our responsibility is to
express an opinion on these financial statements and schedules based on our
audits.
We conducted our audits in accordance with auditing standards generally accepted
in the United States. Those standards require that we plan and perform the audit
to obtain reasonable assurance about whether the financial statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of The Hartford
Investment and Savings Plan as of December 30, 2000 and 1999, and the changes in
net assets available for benefits for the years then ended, in conformity with
accounting principles generally accepted in the United States.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules are presented
for purposes of additional analysis and are not a required part of the basic
financial statements but are supplementary information required by the
Department of Labor's Rules and Regulations for Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The supplemental schedules
have been subjected to the auditing procedures applied in the audit of the basic
financial statements and, in our opinion, are fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
ARTHUR ANDERSEN LLP
Hartford, Connecticut
June 18, 2001
F-1
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 30, 2000 AND 1999
($ IN THOUSANDS)
- -----------------------------------------------------------------------------------------------------------------------------------
2000 1999
- -----------------------------------------------------------------------------------------------------------------------------------
NON- NON-
MEMBER MEMBER MEMBER MEMBER
TOTAL DIRECTED DIRECTED TOTAL DIRECTED DIRECTED
- -----------------------------------------------------------------------------------------------------------------------------------
ASSETS
Investments, at fair value:
The Hartford Financial Services Group,
Inc. common stock (13,479,052 and
13,908,210 shares) $ 951,958 $ 727,218 $ 224,740 $ 654,555 $ 492,880 $ 161,675
Hartford Life, Inc. common stock (1999 -
1,634,984 shares) -- -- -- 70,304 40,003 30,301
Standard & Poor's 500 Index Portfolio 253,439 -- 253,439 298,957 -- 298,957
Mutual funds 298,638 -- 298,638 204,421 -- 204,421
Pooled temporary investments 33,024 14,223 18,801 16,523 9,968 6,555
Investment in group annuity contracts, at
contract value 319,639 -- 319,639 285,834 -- 285,834
Loans receivable 35,429 -- 35,429 37,889 -- 37,889
Dividends and interest receivable 6,584 3,537 3,047 5,002 2,651 2,351
Contributions receivable 3,676 1,211 2,465 3,533 1,180 2,353
----------------------------------------------------------------------------------
TOTAL ASSETS 1,902,387 746,189 1,156,198 1,577,018 546,682 1,030,336
----------------------------------------------------------------------------------
LIABILITIES
Interfund transfers pending -- 573 (573) -- 167 (167)
Unsettled net security purchases (sales) 3,720 (189) 3,909 1,515 (280) 1,795
----------------------------------------------------------------------------------
TOTAL LIABILITIES 3,720 384 3,336 1,515 (113) 1,628
----------------------------------------------------------------------------------
NET ASSETS AVAILABLE FOR BENEFITS $ 1,898,667 $ 745,805 $ 1,152,862 $ 1,575,503 $ 546,795 $ 1,028,708
- -------------------------------------------------==================================================================================
The accompanying notes are an integral part of these financial statements.
F-2
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEARS ENDED DECEMBER 30, 2000 AND 1999
($ IN THOUSANDS)
- -----------------------------------------------------------------------------------------------------------------------------------
2000 1999
- -----------------------------------------------------------------------------------------------------------------------------------
NON- NON-
MEMBER MEMBER MEMBER MEMBER
TOTAL DIRECTED DIRECTED TOTAL DIRECTED DIRECTED
- -----------------------------------------------------------------------------------------------------------------------------------
ADDITIONS TO NET ASSETS ATTRIBUTED TO:
Investment income:
Net realized and unrealized gains (losses) $ 304,637 $ 267,618 $ 37,019 $ (53,745) $ (99,677) $ 45,932
Dividends and interest 61,752 11,254 50,498 40,281 10,541 29,740
----------------------------------------------------------------------------------
Total investment income (loss) 366,389 278,872 87,517 (13,464) (89,136) 75,672
Interest on participant loans 3,205 -- 3,205 3,555 162 3,393
Repayment of participant loans -- -- -- -- 1,354 (1,354)
Employee contributions 63,550 -- 63,550 60,873 -- 60,873
Employer contributions, net of forfeitures 26,607 25,894 713 25,465 24,944 521
Rollovers 8,119 -- 8,119 8,302 -- 8,302
Other, net 1,043 (11,814) 12,857 (141) (5,784) 5,643
----------------------------------------------------------------------------------
TOTAL ADDITIONS (DEDUCTIONS) 468,913 292,952 175,961 84,590 (68,460) 153,050
----------------------------------------------------------------------------------
DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:
Interfund transfers -- (42,139) 42,139 -- (14,107) 14,107
Loans to participants -- (650) 650 -- (859) 859
Administrative expenses (3,276) (1,086) (2,190) (2,765) (1,111) (1,654)
Benefits paid to members (142,473) (50,067) (92,406) (106,980) (38,054) (68,926)
----------------------------------------------------------------------------------
TOTAL DEDUCTIONS (145,749) (93,942) (51,807) (109,745) (54,131) (55,614)
----------------------------------------------------------------------------------
NET INCREASE (DECREASE) 323,164 199,010 124,154 (25,155) (122,591) 97,436
----------------------------------------------------------------------------------
NET ASSETS AVAILABLE FOR BENEFITS
Beginning of year 1,575,503 546,795 1,028,708 1,600,658 669,386 931,272
----------------------------------------------------------------------------------
END OF YEAR $ 1,898,667 $ 745,805 $ 1,152,862 $ 1,575,503 $ 546,795 $ 1,028,708
- -------------------------------------------------==================================================================================
The accompanying notes are an integral part of these financial statements.
F-3
THE HARTFORD INVESTMENT AND SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
DECEMBER 30, 2000 AND 1999
(DOLLAR AMOUNTS IN THOUSANDS)
NOTE 1. DESCRIPTION OF THE PLAN
The Hartford Financial Services Group, Inc., a Delaware corporation, and its
consolidated subsidiaries ("The Hartford" or the "Company") provide life and
property and casualty insurance to both individual and commercial customers in
the United States and internationally.
On June 27, 2000, The Hartford acquired all of the outstanding shares of
Hartford Life, Inc. ("Hartford Life" or "HLI") that the Company did not already
own ("The HLI Repurchase"). As a result, HLI became a wholly-owned subsidiary of
The Hartford. While Hartford Life continues to exist as a company, Hartford Life
stock no longer is listed or traded on the New York Stock Exchange. Proceeds
received by The Hartford Investment and Savings Plan (the "Plan") from The HLI
Repurchase of $70,888 were used by the trustee to purchase shares of The
Hartford common stock. All of the assets that were remaining in Hartford Life
Company Stock Fund, after the purchase of the shares was completed, were
transferred to Hartford Financial Services Group, Inc. Stock Fund. After the
purchase of HLI shares was completed, future employee contributions were
redirected to Hartford Financial Services Group, Inc. Stock Fund.
Information with regard to eligibility, contributions, distributions, vesting,
trustees, withdrawals, restoration, loans, fund redistribution and definitions
of all capitalized terms are contained in the Plan's information document, which
has been distributed to the participants.
General
- -------
The Plan is a defined contribution plan covering all full-time and some
part-time employees of the Company who have six months or more of service and
who have attained age 19. The Plan is subject to the provisions of the Employee
Retirement Income Security Act of 1974 ("ERISA").
The Trust, as defined in the Plan document, is the aggregate funds held by the
Trustee, Bankers Trust Company, under the trust agreement established for the
purposes of this Plan.
Contributions
- -------------
Plan members may generally elect to save 2% to 16% of base salary. Members may
designate their savings as before-tax, after-tax or a combination of both.
Members who are highly compensated employees may be limited to less than 16% due
to the operation of certain tests required under the Internal Revenue Code of
1986, as amended (the "Code").
An amount equal to 50% of a member's Basic Savings is matched by the Company.
Basic Savings are contributions which are not in excess of the first 6% of base
salary. Members' savings in excess of 6% of base salary are supplemental savings
that are not matched by Company contributions. In addition, the Company
allocates 0.5% of base salary to the Floor Company Contribution Account of each
eligible employee. Matching Company contributions and Floor Company
contributions are invested in Hartford Financial Services Group, Inc. Stock
Fund.
On December 30, 2000 for the 2001 Plan year and December 30, 1999 for the 2000
Plan year, the Company guaranteed a fixed minimum contribution (based on a
percentage of the amount of employer contributions normally made) that
represents the employee salary deferral contributions and matching contributions
for the subsequent Plan year. If actual contributions are less than the
guaranteed fixed minimum amount at the end of the Plan year, an additional
matching contribution would be made to the participants. The minimum
contribution was met for the 2000 Plan year.
F-4
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
Administrative Costs
- --------------------
The Trust, as defined by the Plan, pays for the administrative expenses of the
Plan up to 0.25% of the market value of Trust assets. The Company continues to
pay certain Plan administrative expenses which cannot be paid by the Trust.
Member Accounts
- ---------------
Each member's account is credited with that member's contributions and
allocations of (a) the Company's contribution and (b) Plan earnings, and is
charged with an allocation of administrative expenses. Allocations are based on
member earnings or account balances, as defined in the Plan document. The
benefit to which a member is entitled is the benefit that can be provided from
that member's vested account.
Vesting
- -------
Vesting in Company-matched contributions begins one year after employment at 20%
and increases 20% each consecutive year until the fifth consecutive year of
employment when 100% is vested. Notwithstanding the foregoing statement, a
member becomes fully vested in such member's Company contribution account upon
retirement, disability, death, or upon reaching age 65, or the complete
discontinuance of Company contributions or upon termination of the Plan. Floor
contributions are 100% vested when allocated to each member's account.
Investment Options
- ------------------
Contributions of member savings are invested in any one or more of the funds
listed below in multiples of 1%, as elected by the member.
[1], [2] HARTFORD FINANCIAL This fund's investment objective is to
SERVICES GROUP, INC. seek long-term capital appreciation by
STOCK FUND investing in the common stock of The
Hartford.
[1],[3] HARTFORD LIFE COMPANY This fund's investment objective was to
STOCK FUND seek long-term capital appreciation by
investing in the class A common stock of
Hartford Life, Inc.
[1] INDEX FUND This fund's investment objective is to
seek investment results that track the
overall performance of the Standard &
Poor's ("S&P") 500 Stock Index by
investing in stocks in the S&P 500 Stock
Index.
[1] STABLE VALUE FUND This fund's investment objective is to
seek a stable and predictable rate of
return and preservation of capital by
investing in group annuity contracts
issued by a diversified group of
high-quality life insurance companies,
which may include an affiliate, Hartford
Life, deposit agreements issued by a
diversified group of high-quality banks,
U.S. government obligations and
asset-backed securities.
[1] ADVISERS FUND This fund's investment objective is to
seek long-term total return by investing
primarily in the stocks of U.S.
companies, bonds and other debt
securities, and money market
instruments.
[1] BOND INCOME STRATEGY This fund's investment objective is to
FUND seek a high level of current income
consistent with a competitive total
return as compared with bond funds with
similar investment objectives and
policies by investing primarily in
investment-grade bonds.
[1] MONEY MARKET FUND This fund's investment objective is to
seek maximum current income consistent
with liquidity and preservation of
capital by investing in cash, cash
equivalents and high-quality debt
securities.
F-5
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
[1] DIVIDEND AND GROWTH This fund's investment objective is to
FUND seek current income and growth of
capital by investing primarily in large,
well-known U.S. companies that pay
above-average dividends.
[1] INTERNATIONAL This fund's investment objective is to
OPPORTUNITIES FUND seek long-term growth of capital by
investing primarily in the stocks of
large non-U.S. companies.
[1] CAPITAL APPRECIATION FUND This fund's investment objective is to
seek capital appreciation by investing
primarily in the stocks of small, medium
and large U.S. companies.
[1] SMALL COMPANY FUND This fund's investment objective is to
seek capital appreciation by investing
primarily in stocks of U.S. companies
with market capitalization of less than
$2 billion that the portfolio manager
believes have above-average earnings
growth potential.
[1] MIDCAP FUND This fund's investment objective is to
seek capital appreciation by investing
primarily in stock with market
capitalization in the range represented
by the S&P MidCap 400 Index.
[1] HIGH YIELD FUND This fund's investment objective is to
seek high current income with growth of
capital as a secondary consideration by
investing primarily in securities
considered to be below investment grade
quality.
[1] GLOBAL LEADERS FUND This fund's investment objective is to
seek growth of capital by investing in
stocks of U.S. and non-U.S. companies
that are leaders in their industries as
indicated by an established market
presence and a strong global, regional,
or country competitive position.
[1],[4] GLOBAL HEALTH FUND This fund's investment objective is to
seek long-term capital appreciation by
investing at least 80% of its total
assets in the equity securities of
health care companies worldwide.
[1],[4] GLOBAL TECHNOLOGY FUND This fund's investment objective is to
seek long-term capital appreciation by
investing at least 80% of its total
assets in the equity securities of
technology companies worldwide.
[1], [4] STOCK FUND This fund's investment objective is to
seek long-term capital appreciation with
income as a secondary consideration by
investing in stocks of U.S. and non-U.S.
companies.
[1] Indicates party-in-interest with The Hartford or certain of its
subsidiaries. See Note 8 for further discussion.
[2] An amendment effective January 1, 2000 renamed the fund from the
former "Hartford Company Stock Fund".
[3] Terminated on August 3, 2000.
[4] Became effective September 1, 2000.
Participant Loans
- -----------------
Members may borrow from their fund accounts a minimum of $1 to a maximum equal
to the lesser of $50 or 50 % of their vested account balances. Loan transactions
are treated as transfers from (to) the investment funds to (from) the loan fund.
Loan terms range from one to five years, or up to 15 years for the purchase of a
primary residence. The loan is secured by the balance in the member's account
and bears interest at the prime rate (as published in the Wall Street Journal)
plus 1% and remains fixed for the term of the loan. The interest rate is
determined quarterly.
F-6
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
Payment of Benefits
- -------------------
On termination of service due to death, disability, retirement, or other
reasons, members or their designated beneficiaries may elect to receive either a
lump sum amount equal to the value of the vested interest in their respective
accounts or, subject to certain conditions, annual installments over a period
not greater than twenty years. Members or their designated beneficiaries may
also elect to defer distributions subject to certain conditions.
Forfeitures
- -----------
Forfeitures of the nonvested portion of any member's Company contributions are
applied to reduce future Company contributions. Forfeitures were immaterial for
the years ended December 30, 2000 and 1999.
NOTE 2. ACCOUNTING POLICIES
The financial statements have been prepared using the accrual basis of
accounting. The preparation of financial statements in conformity with
accounting principles generally accepted in the United States and the Department
of Labor Rules and Regulations for Reporting and Disclosure under ERISA requires
management of the Plan to make estimates and assumptions that affect the
reported amounts of assets and liabilities and contingent assets and liabilities
at the date of the financial statements and the reported amounts of income and
expense during the reporting period. Actual results could differ from those
estimates.
The Accounting Standards Executive Committee issued Statement of Position 99-3,
"Accounting For and Reporting of Certain Defined Contribution Plan Investments
and Other Disclosure Matters", which eliminates the requirement for a defined
contribution plan to disclose member directed investment programs, and was
adopted for the 1999 Plan year financial statements.
NOTE 3. INVESTMENTS
The following investments represented 5 % or more of the Plan's net assets.
DECEMBER 30,
2000 1999
----------------------------------------------------------------------------------- ---------------- ----------------
The Hartford Financial Services Group, Inc. common stock (13,479,052 and
13,908,210 shares) $ 951,958* $ 654,555*
S&P 500 Index Portfolio-Hartford GA-6226 253,439 298,957
Stable Value Fund - group annuity contracts 319,639 285,834
----------------------------------------------------------------------------------- -- ------------- -- -------------
<FN>
* - Includes non-member directed assets
</FN>
For the years ended December 30, 2000 and 1999, the Plan's investments
appreciated (depreciated) as follows:
DECEMBER 30,
2000 1999
----------------------------------------------------------------------------------- -- ------------- -- -------------
The Hartford Financial Services Group, Inc. common stock $ 338,985 $ (115,737)
Hartford Life, Inc. common stock (For 2000, for the period through June 27, 2000)
12,944 (22,016)
Standard & Poor's 500 Index Portfolio (25,045) 50,819
Mutual funds (22,247) 33,189
----------------------------------------------------------------------------------- -- ------------- -- -------------
Net realized and unrealized gains (losses) $ 304,637 $ (53,745)
----------------------------------------------------------------------------------- -- ------------- -- -------------
F-7
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
NOTE 4. VALUATION OF INVESTMENTS
Plan investments, except group annuity contracts, are reported at fair value.
The fair value of the underlying common stock of Hartford Financial Services
Group, Inc. Stock Fund and Hartford Life Company Stock Fund is based on quoted
market prices. Interests in mutual funds and pooled investment funds are valued
at the redemption price established by the trustee or the investment manager of
the respective fund.
The Plan has entered into numerous traditional and synthetic group annuity
contracts primarily with insurance carriers. These contracts, which are included
in the Stable Value Fund, are fully benefit responsive and are included in the
financial statements at contract value. Contract value represents contributions
made under the contract, plus earnings, less Plan withdrawals and administrative
expenses. As of December 30, 2000, the estimated fair value of the group annuity
contracts was $319,639. The average yield and weighted average crediting
interest rate on these contracts was 6.56% and 6.80%, respectively, for the year
ended December 30, 2000, and 6.20% and 6.16%, respectively, for the year ended
December 30, 1999. Crediting interest rate resets are generally made quarterly
for synthetic contracts and are reset based on formulas which may use market
value, book value, duration and yield. A synthetic group annuity contract is an
investment contract that simulates the performance of a traditional group
annuity contract through the use of financial instruments. A key difference
between a synthetic group annuity contract and a traditional group annuity
contract is that the Plan owns the assets underlying the synthetic group annuity
contract. Traditional group annuity contracts have fixed crediting interest
rates.
NOTE 5. FEDERAL INCOME TAX
On February 25, 1998, a favorable determination was received from the Internal
Revenue Service as to the tax-qualified status of the Plan. While the Plan has
been amended subsequent to the receipt of the determination letter, the Plan
administrator believes that the Plan is designed and is being operated in
compliance with applicable provisions of the Code and other applicable law, and
there have been no amendments, changes or events, which have occurred, which
could affect the Plan's qualified status. Accordingly, no provision for income
taxes has been made in the Plan's financial statements.
NOTE 6. PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the right
under the Plan to suspend, reduce, or partially or completely discontinue its
contributions at any time and to terminate the Plan, the trust agreement and the
Trust hereunder subject to the provisions of ERISA. In the event of termination
or partial termination of the Plan or complete discontinuance of contributions,
the interest of affected members shall automatically become nonforfeitable.
NOTE 7. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
As of December 30, 2000 and 1999, the following is a reconciliation of net
assets available for plan benefits according to the accompanying financial
statements to Form 5500:
2000 1999
----------------------------------------------------------------------------------- ---------------- ----------------
Net assets available for plan benefits per financial statements $ 1,898,667 $ 1,575,503
Amounts allocated to withdrawing members (1,291) (378)
----------------------------------------------------------------------------------- -- ------------- -- -------------
Net assets available for plan benefits per Form 5500 $ 1,897,376 $ 1,575,125
----------------------------------------------------------------------------------- -- ------------- -- -------------
F-8
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
The following is a reconciliation of benefits paid to members according to the
accompanying financial statements to Form 5500:
2000 1999
----------------------------------------------------------------------------------- ---------------- ----------------
Benefits paid to members per financial statements $ 142,473 $ 106,980
Amounts allocated to withdrawing members at end of year 1,291 378
Amounts allocated to withdrawing members at beginning of year (378) (254)
----------------------------------------------------------------------------------- -- ------------- -- -------------
Benefits paid to members per Form 5500 $ 143,386 $ 107,104
----------------------------------------------------------------------------------- -- ------------- -- -------------
Amounts allocated to withdrawing members are recorded on Form 5500 for benefit
claims that have been processed and approved for payment prior to the end of the
Plan year but not paid as of that date.
NOTE 8. PARTY-IN-INTEREST TRANSACTIONS
Certain Plan investments are held in funds managed by Bankers Trust Company, the
Trustee, as defined by the Plan, and certain subsidiaries of The Hartford. Fees
paid by the Plan for Trustee, custodial and investment management services
provided by Bankers Trust Company amounted to $615 and $561 for the years ended
December 30, 2000 and 1999, respectively. Fees paid by the Plan to certain
subsidiaries of the Company for investment management services and the issuance
of group annuity contracts amounted to $76 and $85 for the years ended December
30, 2000 and 1999, respectively. In addition, certain Plan investments are
shares of The Hartford common stock for the 2000 and 1999 Plan years and
Hartford Life common stock for the 1999 Plan year only. Since The Hartford is
the Plan Sponsor, these transactions qualify as party-in-interest transactions.
F-9
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 30, 2000
($ IN THOUSANDS)
(C) DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF (E) CURRENT
(A) (B) IDENTITY OF PARTY INTEREST, COLLATERAL, PAR OR MATURITY VALUE (D) COST VALUE
- ------------------------------------------------------------------------------------------------------------------------------------
Hartford Financial Services Group, Inc. Stock Fund
--------------------------------------------------
* The Hartford Financial
Services Group, Inc. Hartford Financial Services Group, Inc. common stock $ 447,937 $ 951,856
* Bankers Trust Company BT Pyramid Directed Account Cash Fund - STIF 18,617 18,617
---------------
SUBTOTAL 970,473
---------------
Stock Fund
----------
* The Hartford Financial Hartford Mutual Funds, Inc. Stock Fund
Services Group, Inc. *** 1,139
---------------
SUBTOTAL 1,139
---------------
Clearing Account
----------------
* Bankers Trust Company BT Pyramid Directed Account *** 1,189
* The Hartford Financial
Services Group, Inc. Hartford Financial Services Group, Inc. common stock *** 102
---------------
SUBTOTAL 1,291
---------------
Index Fund
----------
* Hartford Life Insurance
Company S&P 500 Index Portfolio-Hartford GA - 6226, S/A BI *** 253,439
---------------
SUBTOTAL 253,439
---------------
Stable Value Fund
-----------------
* Bankers Trust Company BT Pyramid Discretionary Account Cash Fund - STIF *** 12,479
Business Mens Assurance Group Annuity Contract #1412, 7.64%, 11/30/2004 *** 9,284
Caisse des Depots et
Consignations Group Annuity Contract #BR302-01, 6.98%, 01/01/2002 *** 11,579
Continental Assurance Company
Group Annuity Contract #24022, 6.58%, 12/31/2001 *** 3,153
Jackson National Life
Insurance Company Group Annuity Contract #1226, 6.04%, 8/27/2001 *** 2,512
Monumental Life Insurance
Company Group Annuity Contract #ADA00212TR, 6.69% ** *** 61,536
Morgan Guaranty Trust Company
Group Annuity Contract #AITTH01, 6.77% ** *** 85,787
Principal Life Insurance
Company Group Annuity Contract #GA 4-36623, 5.78%, 01/21/2004 *** 10,038
<FN>
* Indicates party-in-interest.
** These synthetic portfolios have no final maturity. Final maturity is
based on the underlying assets in the bond portfolios.
*** Cost information not required for member directed investments.
</FN>
The accompanying financial statements are an integral part of this schedule.
F-10
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 30, 2000
($ IN THOUSANDS)
(C) DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF (E) CURRENT
(A) (B) IDENTITY OF PARTY INTEREST, COLLATERAL, PAR OR MATURITY VALUE (D) COST VALUE
- ------------------------------------------------------------------------------------------------------------------------------------
Protective Life Insurance
Company Group Annuity Contract #GA1628, 7.34%, 5/30/2003 $ *** $ 3,221
Sun America Life Insurance
Company Group Annuity Contract #4670, 6.81%, 10/16/2001 *** 1,555
Transamerica Insurance Company Group Annuity Contract #TDA76592TR, 6.98%, 1/25/2015 *** 79,295
Union Bank of Switzerland Group Annuity Contract #3024, 6.73% ** *** 51,679
---------------
SUBTOTAL 332,118
---------------
Advisers Fund
-------------
* The Hartford Financial Hartford Mutual Funds, Inc. Advisers Fund #BL416645786
Services Group, Inc. *** 62,881
---------------
SUBTOTAL 62,881
---------------
Bond Income Strategy Fund
-------------------------
* The Hartford Financial
Services Group, Inc. Hartford Mutual Funds, Inc. Bond Income Strategy Fund *** 9,255
---------------
SUBTOTAL 9,255
---------------
Money Market Fund
-----------------
* The Hartford Financial
Services Group, Inc. Hartford Mutual Funds, Inc. Money Market Fund *** 17,693
---------------
SUBTOTAL 17,693
---------------
Dividend and Growth Fund
------------------------
* The Hartford Financial
Services Group, Inc. Hartford Mutual Funds, Inc. Dividend and Growth Fund *** 20,203
---------------
SUBTOTAL 20,203
---------------
International Opportunities Fund
--------------------------------
* The Hartford Financial Hartford Mutual Funds, Inc. International Opportunities Fund
Services Group, Inc. *** 15,335
---------------
SUBTOTAL 15,335
---------------
Capital Appreciation Fund
-------------------------
* The Hartford Financial
Services Group, Inc. Hartford Mutual Funds, Inc. Capital Appreciation Fund *** 75,832
---------------
SUBTOTAL 75,832
---------------
<FN>
* Indicates party-in-interest.
** These synthetic portfolios have no final maturity. Final maturity is
based on the underlying assets in the bond portfolios.
*** Cost information not required for member directed investments.
</FN>
The accompanying financial statements are an integral part of this schedule.
F-11
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN
SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 30, 2000
($ IN THOUSANDS)
(C) DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF (E) CURRENT
(A) (B) IDENTITY OF PARTY INTEREST, COLLATERAL, PAR OR MATURITY VALUE (D) COST VALUE
- ------------------------------------------------------------------------------------------------------------------------------------
Small Company Fund
------------------
* The Hartford Financial
Services Group, Inc. Hartford Mutual Funds, Inc. Small Company Fund $ *** $ 28,757
--------------
SUBTOTAL 28,757
--------------
MidCap Fund
-----------
* The Hartford Financial
Services Group, Inc. Hartford Mutual Funds, Inc. MidCap Fund *** 47,206
--------------
SUBTOTAL 47,206
--------------
High Yield Fund
---------------
* The Hartford Financial
Services Group, Inc. Hartford Mutual Funds, Inc. High Yield Fund *** 1,613
--------------
SUBTOTAL 1,613
--------------
Global Leaders Fund
-------------------
* The Hartford Financial
Services Group, Inc. Hartford Mutual Funds, Inc. Global Leaders Fund *** 10,134
--------------
SUBTOTAL 10,134
--------------
Global Health Fund
------------------
* The Hartford Financial
Services Group, Inc. Hartford Mutual Funds, Inc. Global Health Fund *** 3,295
--------------
SUBTOTAL 3,295
--------------
Global Technology Fund
----------------------
* The Hartford Financial
Services Group, Inc. Hartford Mutual Funds, Inc. Global Technology Fund *** 5,295
--------------
SUBTOTAL 5,295
--------------
Bankers Trust Company Cash Fund-STIF
------------------------------------
* Bankers Trust Company BT Pyramid Directed Account Cash Fund-STIF *** 12
* Bankers Trust Company BT Pyramid Discretionary Account Cash Fund-STIF *** 727
--------------
SUBTOTAL 739
--------------
Loan Fund
---------
* Loans to Participants Loans Receivable from Participants, maturing at various dates
bearing interest at rates from 7.0% - 11.5% N/A 35,429
--------------
SUBTOTAL 35,429
--------------
TOTAL $ 1,892,127
==============
<FN>
* Indicates party-in-interest.
** These synthetic portfolios have no final maturity. Final maturity is
based on the underlying assets in the bond portfolios.
*** Cost information not required for member directed investments.
</FN>
The accompanying financial statements are an integral part of this schedule.
F-12
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN
SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 30, 2000
($ IN THOUSANDS)
(C) (D) (E) (F)
(A) (B) PURCHASE SELLING LEASE EXPENSE
IDENTITY OF PARTY DESCRIPTION OF ASSET PRICE PRICE RENTAL INCURRED
- -----------------------------------------------------------------------------------------------------------------------
Hartford Life, Inc. Hartford Life Company Stock Fund $ -- $ 100,157 $ -- $ --
The Hartford Financial The Hartford Financial Services
Services Group, Inc. Group, Inc. common stock -- 195,460 -- --
The Hartford Financial The Hartford Financial Services
Services Group, Inc. Group, Inc. common stock 89,361 -- -- --
- -----------------------------------------------------------------------------------------------------------------------
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN
SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 30, 2000
($ IN THOUSANDS)
(continued)
(H)
(G) CURRENT VALUE OF (I)
(A) (B) COST OF ASSETS ON NET
IDENTITY OF PARTY DESCRIPTION OF ASSET ASSEST TRANSACTION DATE GAIN
- ---------------------------------------------------------------------------------------------------------------
Hartford Life, Inc. Hartford Life Company Stock Fund $ 95,053 $ 100,157 $ 5,104
The Hartford Financial The Hartford Financial Services
Services Group, Inc. Group, Inc. common stock 97,756 195,460 97,704
The Hartford Financial The Hartford Financial Services
Services Group, Inc. Group, Inc. common stock 89,361 89,361 --
- ---------------------------------------------------------------------------------------------------------------
The accompanying financial statements are an integral part of this schedule.
F-13
SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE PENSION
FUND TRUST AND INVESTMENT COMMITTEE OF THE HARTFORD INVESTMENT AND SAVINGS PLAN
HAS DULY CAUSED THIS ANNUAL REPORT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED
HEREUNTO DULY AUTHORIZED.
THE HARTFORD INVESTMENT AND SAVINGS PLAN
----------------------------------------
(NAME OF PLAN)
BY: /S/ FRANCIS A. DORION
--------------------------------------
(FRANCIS A. DORION, PLAN ADMINISTRATOR)
JUNE 18, 2001
- -------------
(DATE)
F-14
EXHIBIT 1
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
To The Hartford Financial Services Group, Inc.:
As independent public accountants, we hereby consent to the incorporation of our
report included in this Form 11-K into the Company's previously filed
registration statement on Form S-8 (Registration No. 33-80663).
ARTHUR ANDERSEN LLP
Hartford, Connecticut
June 18, 2001