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EXHIBIT 99(B)
ITT HARTFORD GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED INCOME
(In millions)
SECOND
QUARTER ENDED SIX MONTHS
JUNE 30, ENDED JUNE 30,
----------------- -----------------
1995 1994 1995 1994
------ ------ ------ ------
Revenues
Property and casualty insurance, net of increase
(decrease) in unearned premium of $(50), $(25),
$64 and $62....................................... $1,733 $1,635 $3,410 $3,250
Life insurance....................................... 531 527 1,278 1,032
Net investment income................................ 622 552 1,183 1,023
Net realized capital gains........................... 28 11 48 62
------ ------ ------ ------
2,914 2,725 5,919 5,367
------ ------ ------ ------
Costs and Expenses
Benefits, claims and claim adjustment expenses:
Property and casualty............................. 1,401 1,216 2,648 2,451
Life.............................................. 616 537 1,202 995
Amortization of deferred policy acquisition costs.... 399 407 813 801
Other expenses....................................... 372 360 933 717
------ ------ ------ ------
2,788 2,520 5,596 4,964
------ ------ ------ ------
126 205 323 403
Income Tax Expense..................................... 20 46 76 107
Dividend on Subsidiary Preferred Stock................. (1) (2) (2) (4)
------ ------ ------ ------
Income before Cumulative Effect of Accounting
Changes.............................................. 105 157 245 292
Cumulative Effect of Accounting Changes, net of tax of
$7................................................... -- -- -- 12
------ ------ ------ ------
Net Income............................................. $ 105 $ 157 $ 245 $ 304
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EXHIBIT 99(B)
ITT HARTFORD GROUP, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEET
(In millions except for shares and per share)
JUNE 30, DECEMBER 31,
1995 1994
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ASSETS
Investments --
Fixed maturities, available for sale, at fair value................ $ 26,413 $ 27,418
Equity securities, at fair value................................... 1,306 1,350
Policy loans, at cost.............................................. 3,677 2,614
Other investments, at cost......................................... 4,696 1,071
-------- ------------
Total investments............................................... 36,092 32,453
Cash................................................................. 112 55
Premiums Receivable and Agents' Balances............................. 2,085 1,996
Reinsurance Recoverables............................................. 12,346 12,220
Deferred Policy Acquisition Costs.................................... 2,784 2,525
Deferred Income Tax.................................................. 1,322 1,729
Other Assets......................................................... 2,610 2,532
Separate Account Assets.............................................. 29,480 23,255
-------- ------------
$ 86,831 $ 76,765
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LIABILITIES AND STOCKHOLDER'S EQUITY
Liabilities --
Future policy benefits, unpaid claims and claim adjustment
expenses:
Property and casualty........................................... $ 17,535 $ 17,435
Life............................................................ 3,519 3,152
Other policy claims and benefits payable........................... 23,728 22,308
Unearned premiums.................................................. 2,821 2,725
Short-term debt.................................................... 915 902
Long-term debt..................................................... 598 596
Other liabilities (including subsidiary preferred stock of $86).... 3,428 3,208
Separate account liabilities....................................... 29,480 23,255
-------- ------------
82,024 73,581
-------- ------------
Stockholder's Equity --
Common stock -- authorized, issued and outstanding 1 share, $1 par
value........................................................... -- --
Capital surplus.................................................... 1,610 1,357
Cumulative translation adjustments................................. 79 24
Unrealized loss on securities, net of tax benefit.................. (149) (1,219)
Retained earnings.................................................. 3,267 3,022
-------- ------------
4,807 3,184
-------- ------------
$ 86,831 $ 76,765
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