The Hartford Financial Services Group is a leading provider of wealth management services and insurance products. Founded in 1810, The Hartford has global operations and serves both individuals and businesses as customers.
The Hartford's insurance businesses operate in the areas of property and casualty insurance, life insurance and investments. Property and Casualty lines include auto insurance, homewoners insurance and disability insurance.
On the life insurance side, The Hartford offers life and disability insurance.
Investment-related offerings include mutual funds, annuities, individual retirement accounts (IRAs) and college savings plans.
Historically, The Hartford has had a strong presence as a leader and innovator in the variable annuity market. Recently, however, The Hartford made decisions to exit the annuity market.
| The Hartford Product Reviews |
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| Products Offered |
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| General Information | |
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| Website | http://www.thehartford.com |
| Type | Insurance Company |
| Founded | 1810 |
| Ownership | |
| Country | USA |
| Contact Information | |
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| Address | Hartford, CT 6155 |
| Phone | 860-547-5000 |
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The Hartford Financial Services Group recently reported net income of $319 million for the most recent quarter. This represents a $1.5 billion swing from the $1.2 billion loss reported a year earlier. The company raised its earnings outlook and reported strength in its U.S. annuities business which reported $153 million in net income. Source: Reuters |
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The Hartford Financial Services Group recently repaid the $3.4 billion in federal aid (TARP funds) it received during the financial crisis. The company also suggested that it will avoid any business, product line and risk concentration in the future. Hartford suffered from heavy exposure to the variable annuity business. The company will now operate with three broad business units: consumer markets; commercial markets, and; wealth management. Source: Investment Advisor |
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In contrast to Metlife, the Hartford Financial Services Group is shifting its business away from annuities. Hartford's new CEO recently announced that the company will be focused on developing a core insurance franchise, and that the annuity business will be a somewhat peripheral concentration:
Source: Wall Street Journal |
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