HIG : Hartford Financial Services
Sector: Financial > Industry: Insurance (Prop. and Casualty)
Hartford Financial Services Group, Inc. (Hartford), is an insurance and financial services company. It provides investment products, separate life, group life and group disability insurance products, and property and accident insurance products in the United States. Hartford is organized in two acts: Life, and Property & Несчастный случай. Property Actions & Life and Accident lead the way in 11 operating segments. Life is organized into four groups, which includes six segments. Retail Product Group (Retail) and Separate Segments of Life made a Separate Group of Markets. The Group's pension plans and Benefit segments have made the Group of Employer Markets. International & Established Solution Group (Installed) segments each made their own group. During a year, completed 31 December 2008, it acquired part of a specific contribution record keeping the Princeton Retirement Group business, Sun Life Retirement Service, limited liability companies TopNoggin and Inc.. In April 2009, Beazley Group Public Limited Company acquires First State Management Group, Inc., from Hartford. 24 June 2009, Hartford Completes Acquisition of Federal Trust Corporation.
Собственность & Accident organized into five message segments: warranty segments of Personal Lines, Small Commercial, Mid Market and Commercial Specialty (all together Ongoing operations), and Other Action Segment. The company supports a mutual fund retail operation, whereby the Company, through wholly owned subsidiaries, provides investment management and administrative services to the Hartford Endowment Funds, Inc. and Hartford Open Fund II, Inc. (open funds) families 62 open-ended funds and one closed-end investment company.
Life
Life's work is led by the Hartford Life, Inc. (Hartford Life or Life), indirect subsidiary of Hartford. Hartford Life provides retail and institutional investment products, including floating annuities, fixed market value adjusted annuities (MVA), open funds, private accommodation life insurance, which includes life insurance products, bought by the company on the lives of its employees, and retirement plan services for the savings and retirement needs of more than seven million clients; life insurance to protect wealth, accumulation and transfer needs approximately 760 000 clients; group benefits products, such as group life and group disability insurance, and products of fixed and floating annuities through its international actions for savings and retirement needs of approximately 490 000 clients.
Retail centers of the segment, through the sale of separate floating and fixed annuities, open-ended funds and other investment products, on the savings and retirement needs of a growing number of people, who are preparing to retire or who have already retired. Life sells and variable and has established individual annuity products through the firm's distribution network of national and regional organizations, combining functions of a broker and a dealer, banks and other financial institutions and independent financial advisors.
A separate segment of Life provides life insurance strategies to a variety of business intermediaries and partners, to decide the protection of wealth, accumulation and transmission needs of its inflow, emerging influx and business life insurance customers. Variable universal life provides life insurance with an investment return, связанное с основными инвестициями, as policyholders are allowed to invest premium dollars among a variety of major open-ended funds. In the products of life “second, in order to die”, two lives insured, not one, and income policy, paid for the deaths of both insured properties. Polices “second, in order to die” used in estate planning for a married couple, since the income of the policy is paid at that time, when the tax liability of the state is incurred. Universal life and sensitive life insurance coverage, provide life insurance with adjustable income rates, based on existing interest rates and returns on major portfolios. Universal Life gives policyholders flexibility in timing and amount of premium payments and amount of deadly benefit, if there are sufficient policy funds, to cover all politics, charges within the next period, if not guaranteed illumination without errors in reality.
Life – retirement products and services provider. Products & Services, offered by Pension programs, include asset management and government planning, sold to municipalities and non-profit organizations. Life also provides retirement products and services, including asset management and plan government, sold to small and medium sized corporations. Life offers many different investment products, including floating annuities and fixed products, employees in the Section 457 And 403 (b) plans. Life manages fixed income funds and designated other external money managers act as advisors to equity funds, offered in Section 457 And 403 (b) plans, ruled by Life. On 31 December 2008, Life has ruled over 4 300 plans under Sections 457 And 403 (b). Life sells retirement products and services to corporations under 401 (k) plans, targeting small and medium case markets. Number 401 (k) plans, которыми управляют, on 31 December 2008, was more than 25 400.
The Group Benefits segment provides groups of employers, ассоциациям, like-minded clubs and financial institutions with group life, accident and lighting failure, along with other products and services, including voluntary benefits and group retirement health. The company also offers disability signing, government, approves, what processed services, and reinsurance to other insurers and employer's self-funded plans. Life – airline in a large group disability insurance business case market. Жизнь также предлагает добровольные, or paid to employees, short and long term disability group benefits.
Short Term Life Disability Benefit Plans Provide Weekly Amounts of Benefit (типично 60 % to 70 % operating profit insured to a specified maximum benefit) to the insured property, when they are unable to work due to accident or illness. Long term disability insurance provides monthly benefits for those extended periods of time, disability benefits not covered by the short-term plan, when the insured property is unable to work due to inability. The insured property can receive full or partial disability benefits. Group Term Life Insurance provides term coverage to employees and members of associations, like-minded clubs, and financial institutions and their dependents for a specified period and has no accumulation of monetary values. Life offers options for its primary coverage of group life insurance, including mobility of coverage and living benefits and critical disease selection, whereby terminally ill policyholders can receive death benefits in advance. Жизнь также предлагает добровольный, or paid by an employee, life group benefits and fatal accidents and dismemberment coverage, or packaged with life insurance or offline. Life offers a host of other products and services, such as Family and Medical Leave Act Government, group retired health, and specialized insurance products for doctors. Life Provides Excess Health Insurance Loss (known as stop loss insurance) employers, who self-finance their medical plans and demands for higher wages, using the services of a third party administrator. Life also provides travel accident, hospital compensation, additional health insurance for military personnel and their families and other coverage to individual members of various associations, like-minded clubs, financial institutions and employee groups.
International, located in Japan, Brazil, Ireland and the United Kingdom, provides investment, retirement savings and other insurance and savings products to individuals and groups outside the United States and Canada. The Japan Operation of the Company sells both variable and fixed individual annuity products through the firm's distribution network of organizations, combining functions of broker and dealer in Japan, banks and other financial institutions and independent financial advisors. Other international activities include 50 %-owned joint ventures in Brazil and startup operation in Europe. The Brazilian joint venture operates under the name Icatu-Hartford, and distributes the pension, life insurance and other insurance and savings products through the organization of the firm, combining broker and dealer functions and various partnerships. European operation of the Company, Hartford Limited Life, started selling unit-linked investment bonds in the United Kingdom in April 2005. Hartford Limited Life set its operations in Dublin, Ireland, with a branch in London, to help sell and service his business in the United Kingdom. During 2008 The company has launched a new product called The Rising Income / Care Story., which is the benefit of removing the guaranteed minimum (GMWB) floating rent, combined with rider care, as well as the new product Plus 5, which is the 10 year benefit of accumulating a guaranteed minimum (GMAB) floating rent with 5% premium per year 10.
Life provides structured settlement contracts, fixed annuities, longevity guarantee, established open-ended funds and sustainable value investment products. Besides, Life is busy in variable life insurance of private placement (PPLI) market, which includes life insurance policies, bought by a company or trust on the lives of employees, with Life or trust, sponsored by Life, named as beneficiary under the policy.
PPLI products are used by employers, to fund unqualified benefits or other debt benefits of post-employment. Structured settlement annuity insurance contracts provide periodic payments to the injured or survivor, typically in settling a claim under a liability policy instead of settling a lump sum. Durability guarantee – fixed deferred annuity payment of a person, which provides contingent of life benefits for people with the aim of providing people with protection from the risk of experiencing retirement income. Life sells established shares of the Hartford Open Society and to qualified (секция 401 (k) and to 457 планов) and unqualified (supplies and funds) institutional investors on investments only basis. Two Primary Counselors of the Hartford Foundations HLS – Wellington, Бостона, Massachusetts for most equity funds and HIMCO for fixed income funds.
Собственность & Несчастный случай
Собственность & Accident provide workers compensation, собственность, automobile, a responsibility, umbrella, specialty accident, морского пехотинца, livestock, and dedication and assurance coverage to merchant accounts primarily throughout the United States; professional coverage of responsibility and coverage of responsibility of directors and officials, as well as excess and redundant business lines, not usually written by standard commercial line insurers; automobile, homeowners and home business lighting to people throughout the United States, and insurance-related services. Personal Lines sell a car, and home business homeowners lighting to people across the United States, including a special program, designed for members of the American Association of Retired People (AARP).
Small Advertising provides standard trade insurance coverage for small businesses primarily throughout the United States.. Small Commercial Job Offers Compensation, собственность, automobile, responsibility and umbrella lighting under several different products. Some of these covers are marketed together as part of a single multi-hazard package policy called Spectrum.. The sale of Spectrum business owner package policies and workers' compensation policies account for the bulk of the written bonus in the Small Commercial segment. Medium Market provides standard trade insurance coverage to medium-sized businesses of the market primarily throughout the United States.. Medium Market Offers Workers Compensation, собственность, automobile, a responsibility, umbrella and marine lighting under various products.
Specialty Commercial offerings of insurance products and risk management services. Commercial Specialty provides standard trade insurance products, including workers' compensation, car and liability coverage for large companies. Speciality, Commercial also, provides dedication, a guarantee, профессиональную ответственность, accident specialty and livestock lighting, as well as excess property and excess lighting lines, not usually written by standard line insurers. An essential part of the specialty accident business, including workers compensation business, written in terms of large deductible programs, where the insured typically secures the collateral, to support payments loss, made within their franchise. The specialty accident business also provides retrospectively nominee programs, where premiums are adjustable based on loss experience. Besides, The Commercial Specialty provides third party administrator services for government claims, integrated benefits and loss control through Specialty Risk Services, limited liability company, branch of the Company.
Another segment of Actions operates under a single governance structure, Heritage Stock, which is responsible for two related actions. First activity – management of certain branches and activities of Hartford, who stopped writing new business. The second is requirements management (and associated reserves) asbestos-related, environmental and other exposures.
