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The Hartford Financial Services Group, Inc.

Investor Presentation Posted October 29, 2013


Guidelines for Creating Presentations

Safe Harbor Statement

Certain statements made in this presentation should be considered forward

looking statements as defined in the Private Securities Litigation Reform Act of

1995. These include statements about The Hartford’s future results of operations.

We caution investors that these forward-looking statements are not guarantees of

future performance, and actual results may differ materially. Investors should

consider the important risks and uncertainties that may cause actual results to

differ, including those discussed in The Hartford’s third quarter 2013 earnings

press release issued on October 28, 2013, our 2012 Annual Report on Form 10-K,

our Quarterly Reports on Form 10-Q and other filings we make with the Securities

and Exchange Commission. We assume no obligation to update this presentation,

which speaks as of today’s date.

The discussion in this presentation of The Hartford’s financial performance

includes financial measures that are not derived from generally accepted

accounting principles, or GAAP. Information regarding these non-GAAP financial

measures, including reconciliations to the most directly comparable GAAP financial

measures, is provided in the appendix to this presentation.

2


Guidelines for Creating Presentations

Table of Contents

3

Introduction 4

For more information, please contact:

Sabra Purtill Sean Rourke

Senior Vice President Assistant Vice President

Investor Relations Investor Relations

Phone (860) 547-8691 Phone (860) 547-5688

or visit our website at: http://ir.thehartford.com

The Transformation 8

The Strengths 20

Shareholder Value Creation 32

Appendix: Business Segment and Financial Overview 38

http://ir.thehartford.com/


THE HAR TFO RD’ S TRANSFO RM ATI O N

A Sharper Focus To Create Shareholder Value

4

Creating Shareholder Value

A sharper focus – go forward businesses with:

Leading

Property And

Casualty (P&C)

Franchise

Major

Group Benefits

Company

Top Performing

Mutual Funds

Reducing Size

and Risk of

Talcott

Resolution

• Strong market positions • Capital generation • Low sensitivity to capital markets • High return potential


THE HAR TFO RD TO DAY

The Hartford At A Glance

5

Mutual Funds

4%

Consumer Markets

9%

P&C Commercial

30%

Group Benefits

6%

P&C Other

3%

Talcott

Resolution

48%

Sold

Businesses

2012 Core Earnings1 by Segment (Excl. Corporate)

1. Denotes financial measure not calculated based on generally accepted accounting principles

Total = $1.7 billion



Financial Overview

6

Financial Overview YTD3 2013 YTD3 2012

Core earnings per diluted share $2.61 $2.32

Book value per diluted share (incl. accumulated other

comprehensive income (AOCI)) $38.87 $47.34

Book value per diluted share (excl. AOCI)1 $38.91 $40.55

Total rating agency adjusted debt to capitalization 28.5% 27.3%

Wtd. avg. common shares outstanding2 492.1 486.1

Core earnings return on equity (last 12 mos. core earnings to

common shareholders’ equity, excl. AOCI) 8.0% 7.1%

Core earnings (loss); $ in millions:

P&C Commercial $598 $485

Consumer Markets $156 $148

P&C Other $(33) $27

Total Property & Casualty $721 $660

Group Benefits $103 $62

Mutual Funds $58 $58

Talcott Resolution $562 $608

Corporate $(158) $(258)

Consolidated core earnings $1,286 $1,130

1. Denotes financial

measure not calculated

based on generally

accepted accounting

principles.

2. Includes dilutive potential

common shares (diluted)

and assumed conversion

of preferred shares

3. Nine months ended

Sept. 30



Financial Overview (Continued)

7

Financial Overview 2012 2011

Core earnings per diluted share $2.88 $2.22

Book value per diluted share (incl. accumulated other

comprehensive income (AOCI)) $45.80 $44.31

Book value per diluted share (excl. AOCI) $40.00 $41.73

Total rating agency adjusted debt to capitalization 27.4% 26.5%

Wtd. avg. common shares outstanding1 486.8 498.7

Core earnings return on equity (last 12 mos. core earnings to

common shareholders’ equity, excl. AOCI) 7.0% 5.6%

Core earnings (loss); $ in millions:

P&C Commercial $511 $389

Consumer Markets $159 $9

P&C Other $44 $(119)

Total Property & Casualty $714 $279

Group Benefits $101 $86

Mutual Funds $74 $98

Talcott Resolution $827 $944

Corporate $(313) $(299)

Consolidated core earnings $1,403 $1,108

1. Includes dilutive potential common shares (diluted) and assumed conversion of preferred shares


Agenda

8

The Transformation

The Strengths

Shareholder Value Creation


Key Strategic Initiatives Underway

9

Sharper focus on go forward businesses P&C, Group Benefits and Mutual Funds

Improve margins and earnings of go forward

businesses

Reduce the size and risk of Talcott Resolution

Maintain strong risk management

Reduce debt and improve financial flexibility

1

2

3

4

5

The Hartford

• More focused business

model

• Higher capital generation

• Reduced market volatility

and risk


1 . SHARPER FO CUS

Sharper Focus On P&C, Group Benefits And Mutual Funds

10

The Plan

The Focus

• March 21, 2012 announcement to focus on three business lines with: – Strong competitive market position

– Strong capital generating ability

– Lower market volatility and risk

• U.S. Annuity placed into runoff and Individual Life, Retirement Plans, and Woodbury

Financial Services sold. Sale of U.K. variable annuity (VA) business expected to

close by year-end 2013.

• Workers’ compensation

• Personal auto and home

• Commercial property

• Commercial auto

• General liability

• Professional liability

• Group disability

• Group life

• Group accidental death &

dismemberment (AD&D)

• Voluntary benefits

• Retail equity, fixed

income, asset allocation,

and target retirement

mutual funds sub-advised

by Wellington

Management

Property & Casualty Group Benefits Mutual Funds


1 . SHARPER FO CUS

Transformation Milestones Achieved To-Date

Discontinued new business sales in U.S. Annuity in April 2012

Sold Individual Life, Retirement Plans, and Woodbury Financial

– Completed sale of Woodbury Financial to AIG on Nov. 30, 2012

– Completed sale of Retirement Plans to MassMutual on Jan. 1, 2013

– Completed sale of Individual Life to Prudential on Jan. 2, 2013

– Announced sale of U.K. VA business on June 27, 2013

Expanded 2013-2014 capital management plan to $2.25 billion:

– $1.25 billion 2013-2014 equity repurchase plan; $408 million repurchased through

Sept. 30, 2013

– $1 billion debt reduction plan for 2013-14, including $800 million March 2013 debt

tender and 2013 and 2014 debt maturities

– 2013-2014 capital management plan funded in part with $1.5 billion in U.S. life

subsidiaries dividends due to sale of Individual Life and Retirement Plans

11


• Margin improve-

ment initiatives

focused on pricing

and underwriting

• Top line growth;

new business

initiatives, home-

owners margins,

maintaining auto

profitability

• Multi-year pricing

and customer

segmentation

program; claims

excellence

• Strengthened

relationship with

Wellington to

improve sales

and net flows

2 . I M PROVE M ARG I NS

Improve Margins And Earnings Of Go Forward Businesses

12

P&C Commercial

Consumer Markets

Group Benefits

Mutual Funds

96.1

93.2

YTD 12 YTD 13

Combined Ratio1

80.3%

76.6%

YTD 12 YTD 13

Loss Ratio

$342

$379

YTD 12 YTD 13

New Business Premium

$8,688

$11,617

YTD 12 YTD 13

Total Mutual Funds Sales

1. Excluding catastrophes and prior year development (PYD.) Denotes a financial measure not calculated based on generally accepted accounting principles.


Retained Net Amount at Risk ($ in billions)

76%

90%

3 . TALCO TT RESO LUTI O N

Reducing Size And Risk Of U.S. VA Blocks

• Principal goal is to reduce the size and risk of annuity blocks

• Enhanced Surrender Value (ESV) program launched in 2013 – Program focused on U.S. VA lifetime income benefits riders; approximately 50% of U.S. Guaranteed

Minimum Withdrawal Benefit (GMWB) retained net amount at risk (NAR)

– Cumulative acceptance rate of 35% through Sept. 30, 2013

• Enforcing limitations in U.S. VA contracts to reduce risk – Fund allocation limits applied to equity funds

– Future rollovers to fixed annuity eliminated

• Full surrender rate 20.3% in 3Q13 versus 10.4% in 3Q12

13

$5.1

$2.1 $2.2

$0.5

$1.2

$0.2

GMDB* GMWB 2011 2012 3Q13

$68.8 $64.8 $61.5

2011 2012 3Q13

U.S. VA Account Values ($ in billions)

11%

*Guaranteed minimum death benefit



Reducing Size And Risk Of Japan VA Block

• Initiatives to reduce size and risk of the block include: – Customer communications strategy for education on policy terms and options

– Annuitization schedule and options for Guaranteed Minimum Income Benefit (GMIB) contracts

• Actions or events that reduce size and risk of the block include: − Dynamic tail hedging program reduces risk in adverse markets

− Weakening yen and favorable capital market levels reduce retained NAR and may affect policyholder

behavior, including surrender levels

− Expanded Japan VA hedging, effectively eliminating equity and currency risk

• Full surrender rate 30.8% in 3Q13 versus 3.0% in 3Q12

14

$31.2 $29.5

$22.8

2011 2012 3Q13

$9.4

$7.5

$4.8

$3.3

$1.3 $0.5

GMDB GMIB 2011 2012 3Q13

Japan VA Account Values1 ($ in billions)

Retained Net Amount at Risk ($ in billions)

27%

86%

93%

1. 2011 and 2012 International Variable Annuity data includes the U.K. variable annuity business. 3Q13 data represents Japan only



Reduced Risk With Annuitization

• To date, most contracts eligible for annuitization are surrendering – Annuitization rates correlated to improving NAR

– The average moneyness1 of in-the-money2 GMIB contracts was 5% at Sept. 30, 2013

• Risk reduced after annuitization – At annuitization, equity and bond fund investments sold to general account and reinvested in fixed

income securities

– Eliminates volatility of policyholder liability and need for equity and currency hedging

15

$0.1

$2.7

$5.3

$2.2 $2.5

$5.8

2013 2014 2015 2016 2017 2018+

Japan GMIB Annuitization Eligibility by Account Value ($ in billions)

Nearly 45% of Japan

GMIB to reach

annuitization by 2015

year end

As of Sept. 30, 2013

1. For contracts that are in-the-money, percentage by which average contract is in the money

2. In-the-money contracts have an account value that is less than the guaranteed value, at a point in

time. Out-of-the-money contracts have an account value greater than the guaranteed value, at a

point in time


4 . REDUCE DEBT AND I M PRO VE F I NANCI AL FLEXI B I L ITY

Significant Debt Repayment Improves Leverage

16

Ratings agency adjusted debt/capital declined 3.4 points from Sept. 2009 to Sept. 2013

$3.4 billion

TARP

repayment

April Allianz

warrant

repurchase

$800 million

March debt

tender

Mandatory conversion

of $575 million pre-

ferred shares in May

Allianz hybrid

debt refinanced

in April

$675 million

debt repayment

2010 2011 2012 2013

$320 million

July debt

repayment


4 . REDUCE DEBT AND I M PRO VE F I NANCI AL FLEXI BL I TY

Improved Capital Position

17

Improved Capital Resources (Sept. 30, 2013)

• Capital resources total $17.7 billion

• $7.8 P&C statutory surplus, in excess of AA rating agency capital levels

• $1.8 billion in holding company cash and short-term investments

Improved Leverage Ratios • Rating agency adjusted debt to capital 28.5% at Sept. 30, 2013 (27.9% pro forma the

1Q14 debt maturities)

• Targeting rating agency adjusted debt to capital ratio in the low 20%

• Core earnings before interest and taxes to fixed charges coverage ratio target of 5 to 6x

versus 4.9x for the twelve months ended Sept. 30, 2013

• Capital management plan to repay $1 billion of debt in 2013-2014

Balanced Capital Management Plan

• $1 billion of debt reduction; $820 million repaid through September 30, 2013, with

additional $200 million to be repaid in 2014

• $1.25 billion share repurchase program; $408 million repurchased through Sept. 30, 2013

• Increased quarterly dividend 50% to $0.15 per share in July 2013


5 . MAINTAIN STRONG RISK MANAGEMENT

Strengthened Risk Management Organization

• Significant improvements in risk management organization since 2008

• Reporting structure ensures independence and a holistic view of major risks

• Appointed dedicated chief risk officers for each primary risk category

• Additions to staff with expertise in capital markets, investments, insurance and risk

18

Liam McGee Chairman, President

and CEO

Chief Market Risk Officer

Chief Insurance

Risk Officer

Chief Operational

Risk Officer

Chief Risk Officer

HIMCO

Robert Rupp Enterprise Chief

Risk Officer


5 . M AI NTAI N STRO NG R I SK M AN AG EM ENT

The Hartford’s Risk Profile Has Been Materially Reduced

19

1. Distressed investments are general account investments with market values at 80% or less of book value, excluding U.S.

Treasury and government agency securities, Japanese government bonds, and highly rated municipal securities which are

depressed due to changes in interest rates.

2. Debt leverage calculated as rating agency adjusted debt to total capitalization

3. VA retained NAR is calculated by adding U.S. GMWB and Japan GMIB NAR

Dec. 31,

2009

Sept. 30,

2013

Risk

Reduction

Distressed investments1 $13 billion $1.0 billion 92%

Debt leverage2 31.9% 28.5% 3.4 points

VA living benefits retained

NAR3 $6.2 billion $ 0.7 billion 89%

U.S. VA policy count 1,233,000 802,000 35%

Japan VA policy count 466,000 341,000 27%


Agenda

20

The Transformation

The Strengths



Strengths We Are Leveraging

21

Leading market positions in the go forward insurance businesses

Superior claims and customer service

Broad distribution networks

Improving margins in the go forward businesses

High quality investment portfolio

Improving leverage and coverage ratios

1

2

3

4

5

6


1. Strong Market Positions In Go Forward Businesses

22

Leader in

Group Disability (in-force premium as of 12/31/2012, per

LIMRA)

#2

Top Ranking in

Barron’s Lipper

Fund Family (one year ranking in 2012)

#3

Major Direct

Personal Lines

Company (per A.M. Best, 2011)

#4

Strong Market

Position

in Group Life (in-force premium as of 12/31/2012, per

LIMRA)

#6

Leader in

P&C Commercial

Insurance (direct written premium in 2012, per AM Best)

#7

Major Underwriter

in Total

Personal Lines (direct written premium in 2012, per A.M. Best)

#11


2. Superior Claims And Customer Service

23

1. The Hartford received the highest numerical score in the proprietary J.D. Power and Associates 2012 Insurance Shopping StudySM. Study based on 16,171

total responses, ranking 24 providers and measuring the opinions of consumers shopping for a new auto insurance policy. Proprietary study results are based on

experiences and perceptions of members surveyed January and February 2012.

J.D. Power recognition:1

• “Highest in Customer Satisfaction with the auto insurance

purchase experience” (J.D. Power, 4/29/2012)

• The Hartford AARP Auto and Homeowners Insurance

program’s Call Center: “An outstanding customer service

experience” for seven years in a row (J.D. Power, 4/19/2012)

• First J.D. Power certified commercial lines company

Recognized as one of the world’s most ethical

companies by Ethisphere Institute (2008 – 2012)


3. Broad Distribution Reach – An Important Competitive

Advantage

• Consumer Markets: Over 14,000 independent agent locations and

longstanding relationship with the American Association of Retired

Persons (AARP)

– Exclusive relationship through 2023

– Access to 37 million members

– Over 6,400 insurance agents writing AARP product

• P&C Commercial: 11,000+ unique distribution partners in 20,000

locations and deep relationships with national brokers

• Group Benefits: Leadership position with group benefit specialists;

strong enterprise relationships with multi-line distributors

• Mutual Funds: New head of distribution, digital marketing push

24


96.1%

93.2%

YTD 12 YTD 13

91.1% 89.6%

YTD 12 YTD 13

2.0%

3.7%

YTD 12 YTD 13

P&C Commercial

4. Disciplined Focus On Improving Margins

25

* For P&C Commercial and Consumer Markets, represents combined ratio excluding catastrophes and PYD. For Group Benefits, represents core earnings

margin after tax. “Combined ratio excluding catastrophes and PYD” and “after tax core earnings” denote financial measures no t calculated based on

generally accepted accounting principles.

Operating Margins* Improving Across Go Forward Businesses

Consumer Markets Group Benefits


4. P&C Commercial Focused On Improving Underwriting

Margins And Business Mix

• Pricing increases and underwriting actions driving margin improvement

• Enhancing property capabilities to serve multi-line accounts

• Focusing specialty commercial to complement standard lines

26

P&C Standard Commercial

Renewal Written Price Increases

7% 7%

8% 8% 8% 8% 8%

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13


4. Consumer Markets Focused on Top Line Growth

and Maintaining Auto Margins

• Achieve top line growth with continued new business momentum – AARP Agency channel

– New Homeowners product roll out in California in 2012

• Improve Homeowners margins and maintain Auto profitability

27

Homeowners Accident Year Combined Ratio,

Excluding Catastrophes Auto Accident Year Combined Ratio,

Excluding Catastrophes

78.0%

80.9%

75.4%

2010 2011 2012

100.0%

96.9% 97.6%

2010 2011 2012


4. Group Benefits Focused On Multi-Year Segmented Pricing

Initiative To Improve Profitability

28

• Initiatives to expand margins through: – Pricing precision

– Underwriting execution

– Claims excellence

• Top line decline in 2012 and 2013 due to competition and pricing initiatives − Expect premiums to decline 10-15% in 2013, but expect core earnings to increase

• Invest in growth opportunities – Small business segment

– Voluntary benefits

Improving Group Benefits Loss Ratio1

78.6%

79.3% 77.0%

77.4% 75.7% 76.7%

2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

1. Excludes buyout premiums


4. Mutual Funds Positioned to Improve Net Flows

And To Grow Sales

29

• Diversified retail mutual fund family and

investment-only offerings including: – Equity

– Fixed income

– Asset allocation

– Target retirement funds

• Focused on improving net flows and

growing sales with Wellington

Management as sole sub-advisor − Fixed income funds were previously

managed by The Hartford’s investment

management group

• 55% of The Hartford’s retail mutual

funds beat their Lipper peers on a one-

year basis as of Sept. 30, 2013

Growth in Assets Under Management ($ billion)

$27.6 $26.0 $25.6

$57.9 $61.6 $66.8

2011 2012 3Q13

Mutual

Fund

Assets1

Annuity

Assets

$85.5 $87.6

1. Mutual Funds excludes annuity mutual fund assets that are held in separate account supporting The Hartford’s variable insurance and investment products

$92.4


5. High Quality Investment Portfolio Matched To

Liability Duration

30

Invested Assets by Sector (Book Value of $78.9 billion as of 9/30/2013)

• The Hartford’s General Account portfolio is highly diversified with a strong credit profile

• Emphasis on prudent balancing of net investment income and total returns within asset-liability

management, risk, and capital parameters

• Over half the portfolio consists of highly-rated corporate, government or municipal securities

Weighted average

credit quality of ‘A’

at September 30,

2013

Only 6.7% rated

BB or lower

Govt/govt agencies 10%

Municipal Bonds 16%

RMBS 6%

Equity 1%

Ltd partnership & other alternative inv. 4%

Mortgage Loans 7%

Other 4% Short-term 5% ABS 3%

CDOS 3%

CMBS 5%

Corporate 36%


6. Improving Debt Level And Coverage Ratio

31

$7.1

$6.3 $6.3 $6.1

Dec. 31, 2012

Sept. 30, 2013

Dec. 31, 2013E

Dec. 31, 2014E

Total Debt ($ in billions)

4.0x

4.5x

4.9x

Dec. 31, 2012 June 30, 2013 Sept. 30, 2013

Fixed Coverage Ratio1

1. Ratio of core earnings before interest and taxes to fixed charges, including interest expense, preferred dividend and interest on rentals


Agenda

32

The Transformation

The Strengths



Our Strategic Focus Is Clear

33

1. Improve go forward business margins and core earnings

2. Shrink size and risk of Talcott Resolution

3. Balanced capital management plan


1. Improve Margins And Core Earnings In Go Forward

Businesses

34

Property & Casualty

Combined Ratio1

Go Forward Core Earnings ($ in millions)

94.6% 92.2%

YTD 12 YTD 13

$780 $882

YTD 12 YTD 13

1. Excluding catastrophes and prior year development


2. Reduce Size And Risk Of Talcott Resolution

35

2012 Actions Taken 2013 Goals

• Put U.S. Annuity into

runoff

• Sold U.S. Individual

Annuities new

business capabilities

• Mutual Funds

upstreamed out of Life

insurance subsidiaries

• ESV program on U.S.

VA Block

• Close sale of U.K. VA

company

• Separate Group

Benefits from Talcott

Resolution

• Japan VA

annuitization begins in

4Q13

Long Term Goals

• 50% reduction in size

of VA blocks due from

surrenders and

annuitization over

next five years

• Evaluate transaction

or other actions to

accelerate runoff

• Ultimate goal to

isolate or separate

from go forward

businesses


3. Balanced Capital Management

36

Strong Capital Base

With Balanced

Capital Management

Plan

1. Including Japan HLIKK capital

Strong position: capital resources:

$17.6 billion at Sept. 30, 2013 • Holding company cash and short-term

investments total $1.8 billion

• Total Life and P&C statutory capital

resources > $15.8 billion1

Capital management actions over past two

years: • $500 million share repurchase program completed in

2012

• Repurchased $300 million warrants and

refinanced $1.7 billion high interest debt held by

Allianz in 2012

• 2013-2014 plan: $1 billion debt reduction and

$1.25 billion share repurchase

• Increased quarterly dividend by 50% to $0.15 per

share in July 2013

Capital margins managed to maintain AA

capital in Property & Casualty operations, 325%

RBC in U.S. Life Company, and 125% at Life

Reinsurance Captives in stress scenarios


The Hartford In 2013: Advancing The Transformation

And Building Shareholder Value

37

Increasing

Margins and

core earnings of

go forward

businesses

Strengthening

Balance

sheet

Improving

Capital

generation for

shareholders

and business

reinvestment

Reducing

Market

exposure and

volatility

$780

$882

YTD 12 YTD 13

Core Earnings, Go-Forward Businesses1

($ in millions)

13% $7.1

$6.1

Dec. 31, 2012 Dec. 31, 2014E

Total Debt ($ in billions)

54%

44%

YTD 12 YTD 13

Percentage of Core Earnings From Talcott Resolution

$392

$912

2009-10 2011-12 2013-14E

Equity Repurchases and Dividends on Common and

Preferred ($ in millions)

~$1,750

1. Includes Property & Casualty, Group Benefits and Mutual Funds

14%


Business Segment And Financial Overview

Appendix

38


Property & Casualty

39


Property & Casualty

• Property & Casualty is comprised of three segments:

– P&C Commercial

– Consumer Markets

– P&C Other Operations1

40

P&C Commercial Consumer Markets

Consumer Markets

$3.6

(37%)

P&C Commercial

$6.2

(63%)

2012 Written Premium $9.8 Billion ($ in billions)

1. Primarily runoff asbestos and environmental exposures that have discontinued writing new business


P&C Commercial

41


KEY M ETRI CS

P&C Commercial Key Metrics

42

($ in millions) YTD 13 2012 2011

Written premiums $4,745 $6,209 $6,176

Current accident year catastrophes $98 $325 $320

Underwriting gain (loss)1 $146 $(182) $(279)

Combined ratio, excluding catastrophes and prior year development1 93.2 96.6 97.3

Small Commercial 88.0 91.1 89.5

Middle Market 95.6 99.3 102.9

Specialty 102.5 106.4 107.7

Average renewal written price increases (Standard Comm’l) 8% 8% 4%

Policy count retention:

Small Commercial 81% 83% 83%

Middle Market 79% 77% 78%

1 Denotes a financial measure not calculated based on generally accepted accounting principals


FO CUS

P&C Commercial Offers Insurance For All Sizes of Businesses

43

48%

8%

9%

19%

9%

3% 4%

Workers' Compensation Property

Auto Package

Liability Fidelity & Surety

Professional Liability

Target Customers

7th Largest P&C Commercial Insurance Operation in the U.S.1

2012 Earned Premium by Product

1. Per A.M. Best, based on 2012 direct written premiums

Small Commercial:

Main Street and Emerging businesses

with payrolls < $5 million; revenue &

property < $15 million

Middle Market:

Small Commercial; guaranteed cost

insurance

Specialty:

Large companies with high deductibles

or retained exposure


STRENG THS

Market Leadership Achieved Through Superior Execution

44

Significant Market Positions

• #3 in workers’ compensation and commercial multi-peril1

• #8 in commercial auto1

• Leading share in P&C Small Commercial

Superior Sales & Underwriting Capabilities

• Ranked among the top markets by national and regional agents and brokers

• Exceptional field sales and underwriting talent

• 2012 combined ratio of 102.9 vs. industry of 107.72

Top Quality Claims & Service

• Unique claim handling skills

• Award winning service operations (first JD Power certified commercial P&C company)

• Outstanding loss prevention services

1 Based on 2012 direct written premium per National Association of Insurance Commissioners 2 Per Conning’s 4Q12 Forecast and Analysis


PERFO RM ANCE

P&C Premium Is Diversified Among Business Sectors

45

P&C Commercial Written Premium and Core Earnings1

($ in millions)

$5,796 $6,176 $6,209

$1,003

$389 $511

2010 2011 2012

Written Premium Core Earnings

2012 Earned Premium by Sector (Total $6.3 billion)

48%

36%

16%

Small Commercial

Middle Market

Total Specialty

1 Denotes a financial measure not calculated based on generally accepted accounting principals


PERFO RM ANCE

Improving P&C Margins With Targeted Pricing Actions

And Expense Controls

46

P&C Commercial Combined Ratio and Expense Ratio (Excluding catastrophes and prior year development)

93.0 97.3 96.6

93.2

30.7%

29.4% 29.6% 29.9%

2010 2011 2012 YTD 13

Combined Ratio Expense Ratio


Spectrum

Workers' Comp.

Payroll Alliances

Auto

Other

PERFO RM ANCE

Small Commercial Continues To Extend Leading Capabilities

For Customers And Agents

47

Success Drivers:

• Products and services tailored to

needs of small businesses

• Advanced use of technology – Quoting and issuance with low/no

touch underwriting

– Online service portal

– New quoting platform, ICON,

improving quote time, flow, and yield

ratio

• Sophisticated pricing models

• Broad small business distribution

partnerships

1 Excludes catastrophes and prior year development

Combined Ratio1: 91.1%

Small Commercial

2012 Net Written Premium $3.0 billion


PERFO RM ANCE

Middle Market Is Creating A More Balanced Product Portfolio

While Increasing Margins

48

Success Drivers:

• Strong pricing analytics and

market execution driving margin

improvement

• Investing in new offerings for

property, general liability and

marine

• Leading underwriting expertise

and efficiency

• National sales office footprint

providing expertise in local

markets across the country

Workers' Comp

General Liability

Auto

Property Marine

Construction

Bond

Other


Middle Market

2012 Net Written Premium $2.2 Billion



PERFO RM ANCE

Specialty’s Diverse Portfolio Complements The Product Needs

Of Agents and Customers

49

Success Drivers:

• Provide growing businesses with

advanced solutions – Self-insurance layers

– Risk management

• Extend a range of financial

products to businesses of all sizes – Directors and Officers and

Employment Practices Liability

insurance for small and mid-sized

businesses

– Fidelity

• Programs that support unique

buying groups and agent marketing expertise


Captive and Specialty Programs

National Accounts

Financial Products

Other

Specialty Commercial

2012 Net Written Premium $1 Billion



PERFO RM ANCE

Leveraging Strong Workers’ Compensation Capabilities

Industry leading workers’ compensation platform:

• Third largest underwriter measured by direct written premiums1

• Peer-leading performance with five year average adjusted loss ratio of 60%

• Expertise in workers’ compensation provides opportunities in Property, Liability and Auto

50

77%

63% 60%

75% 81%

105%

58%

72%

0%

20%

40%

60%

80%

100%

120%

0%

2%

4%

6%

8%

10%

Liberty Mutual Travelers The Hartford AIG Zurich State Insurance Fund, NY

State Comp. Ins. Fund, CA

Old Republic

1. Source: A.M. Best. Market share based on direct written premiums in the U.S. Adjusted loss ratio represents five year average 2008-2012.

Adjusted loss ratio defined as direct losses incurred divided by the difference between direct premiums earned and dividends to policyholders.

Workers’ Compensation Market Share and Adj. Loss Ratio, 20121

Mark

et

Sh

are

A

dju

ste

d L

oss R

atio


KEY TAKE AW AYS

P&C Commercial Key Takeaways

Our P&C Commercial business is an industry leader

Our businesses are gaining momentum across the board

We are investing for strong margins and growth

51


Consumer Markets

52


KEY METRICS

Consumer Markets Key Metrics

53


Written premiums $2,833 $3,630 $3,675

Current accident year catastrophes 186 $381 $425

Underwriting gain (loss) $138 $93 $(48)

Combined ratio, excluding catastrophes and prior

year development 89.6 90.8 91.9

Auto 94.6 97.6 96.9

Homeowners 77.8 75.4 80.9

Renewal written price increases

Auto 5% 4% 5%

Homeowners 7% 6% 8%

Policy count retention | Premium retention

Auto 86% | 88% 85% | 86% 83% | 84%

Homeowners 87% | 92% 86% | 90% 84% | 90%

New business premium

Auto $280 $332 $298

Homeowners $99 $117 $91


FOCUS

Consumer Market Overview

54

$2,680 , 74%

$136 , 4%

$757 , 21%

$57 , 1%

AARP Direct AARP Agency Other Agency Other

$2,514 , 69%

$1,116 , 31%

Auto Homeowners

AARP

Exclusive 29 year auto and home partnership with AARP under contract until 2023

Agency

Distribute auto and home through 14,000 independent agent locations,

including over 6,400 AARP agents

Targeted Direct/Affinity

Strategic focus on targeted direct

2012 Written Premium By Channel ($ in millions)

2012 Written Premium By Product ($ in millions)


STRENGTHS

Consumer Markets Strengths

Digital sales

capabilities

Direct channel

distribution and

service

• Deep expertise in targeting, marketing, selling and servicing the mature, preferred market

• Award-winning customer service and claims handling

• Market-leading online sales capabilities (including auto insurance package options and coverage counseling)

AARP

• 29 year partnership with AARP, recently extended through 2023

• Best-in-class product for AARP members, or mature, preferred customers

• Recently expanded distribution to AARP Agency

55


STRENG THS

Our AARP Relationship is an Important Competitive Advantage

56

AARP Exclusive Relationship

until 2023

Exclusive access to 37 million members

6,400+ agent locations writing product

$2.8 billion in 2012 earned premiums

Accounts for 78% of Consumer

Markets written

premiums


PERFORMANCE

Consumer Markets Margin Expansion

Written Premium and

Combined Ratio1

($ in millions)

1 Excludes catastrophes and prior year development; denotes financial measure not calculated on generally accepted accounting principles

$3,886 $3,675 $3,630

94.3% 91.9% 90.8%

2010 2011 2012

Written Premium

Combined Ratio

$2,745 $2,562 $2,514

100% 96.9% 97.6%

2010 2011 2012

Written Premium

Combined Ratio

Auto Written Premium and

Combined Ratio1

($ in millions)

$1,141 $1,113 $1,116

78.0% 80.9% 75.4%

2010 2011 2012

Written Premium

Combined Ratio

Home Written Premium and

Combined Ratio1

($ in millions)

57


PERFORMANCE

Consumer Markets’ Strategic Objective Is To Achieve Above

Industry Growth and Profitability

• Restore growth while maintaining profitability in

• auto and improving in home

Four Channels …with distinct priorities

AARP Direct

AARP Agency

Non-Member

Agency

Targeted

Direct / Affinity

• Continued aggressive growth with disciplined

lens on profitability

• Improve profitability and return to growth

• ‘Test and learn’ laboratory for future growth

and diversification opportunities

58


PERFORMANCE

Consumer Markets Margins Versus Industry

59

• The Hartford’s combined ratios for the last five years have outperformed the

industry

• Strong pricing and underwriting initiatives continue to improve profitability,

particularly in homeowners

92.7%

98.0% 98.0%

95.3% 97.6%

100.2% 101.4% 101.0%

102.0%

99.6%

2008 2009 2010 2011 2012

Auto Combined Ratio

The Hartford Industry

98.1% 98.0%

104.3%

115.8%

97.0%

116.6%

105.8% 106.9%

122.4% 118.0%

2008 2009 2010 2011 2012

Homeowners Combined Ratio

The Hartford Industry

1 Based on A.M. Best Industry Statutory data. 2012 industry figures are A.M. Best estimates as of Feb. 4, 2013

The Hartford Versus Industry1


Consumer Markets Key Takeaways

Market leading direct affinity businesses

Broad distribution reach is a key competitive advantage

Disciplined focus on achieving growth while improving profitability

60


P&C Other Operations

61


FOCUS

P&C Other Operations Profile

62

• With total reserves of $3.0 billion,

P&C Other Operations is primarily legacy

asbestos and environmental (A&E)

exposures

• Actively reducing potential volatility from

A&E liabilities with dedicated claims, legal,

actuarial and finance teams

− Net A&E reserves as of Sept. 30, 2013

are 11% of total P&C net reserves

compared to 26% in 2003

− Net A&E reserves have decreased 50%

since 2003

• Three major areas of focus:

direct claims, assumed claims, and

reinsurance collections

• Comprehensive ground-up reviews of A&E

and reinsurance recoverables completed

annually during the second quarter

57.9%

9.3%

32.8%

Asbestos Environmental Other 1

$6.4

$4.8 $4.3

$3.6 $3.0 $2.8 $2.9 $2.7 $2.8 $2.6 $2.6

$4.2

$2.9 $2.7 $2.6 $2.2 $2.2 $2.3 $2.1 $2.2 $2.1 $2.0

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 3Q13

Reserves for Asbestos and Environmental

($ in billions)

Gross Net

50%

Runoff Reserves By Type (As of Sept. 30, 2013)

1. Includes reinsurance recoverables, unallocated LAE and reserves for discontinued P&C businesses


Group Benefits

63


KEY M ETRI CS

Group Benefits Key Metrics

64


Total fully insured ongoing premiums $2,452 $3,745 $4,036

Group disability $1,043 1,673 1,818

Group life $1,288 1,878 2,024

Sales $335 $405 $505

Group disability $154 $163 $219

Group life $171 $224 $269

Loss ratio 76.6% 79.5% 79.5%

Group disability 86.8% 92.2% 92.7%

Group life 69.0% 69.0% 68.6%

After-tax margin (core earnings) 3.7% 2.4% 1.9%

Note: Premium and sales figures exclude buyouts (takeover of open claim liabilities and other non-recurring premium amounts)


FO CUS

Market Share Leader In Group Life and Disability

65

Products & Services:

• Group life, disability and accident

death and disability (AD&D)

• Employer paid and voluntary

• Retiree health – medical &

prescriptions

• Reinsurance – excess life and private

label disability

• Absence/leave management services

2012 Earned Premium2 (Total $3.7 Billion)

1 In-force premium per LIMRA as of Dec. 31, 2012 2 Represents fully insured ongoing premium, excluding buyouts

Note: Employer Group represents core life, LTD and STD products. Specialty represents association, group reinsurance and group retiree health.

2nd largest group disability & 6th largest group life operation in the US1

81%

19%

Employer Group Specialty Business


STRENG THS

Group Benefits Market Leadership

66

Disciplined underwriting

Sophisticated pricing capabilities

Clinical claim model

Leave management capabilities

Distribution relationships


Fully Insured Premium1 & After Tax Margin ($ in millions)

1 Represents fully insured ongoing premium, excluding buyouts

$4,166 $4,036

$3,745

3.5%

1.9%

2.4%

2010 2011 2012

Fully Insured Premium

After Tax Margin

PERFO RM ANCE

Improving Margins From Pricing And Underwriting Actions

67

2012 Fully Insured Premium1

Employer & Specialty

45%

50%

5%

Group Disability

Group Life

Other

(Total $3.7 billion)


PERFO RM ANCE

Growth Opportunity To Grow In All Market Segments

With Unique Capabilities

68

Success Drivers:

• Strong distribution partnerships – Leadership position with

Group Benefit specialists

– Deep enterprise relationships with multi-

line distributors

• National field office network providing

local contacts

• Broad product portfolio with growing

voluntary offerings

• Strong presence in private and public

buyer markets

• Distinctive small case distribution and administration

Employer Group FY 2012 Insured Premium1

(Account Size By Number of Employees)

1 Represents fully insured ongoing premium, excluding buyouts

31%

17%

52%

Regional 500-4,999 Priority < 499 National > 5,000


Group Benefits Key Takeaways

Leading provider of group life and group disability products

Focus on underwriting and pricing is driving margin and profit improvement

We are investing in growth opportunities with particular emphasis on expanding voluntary capabilities

69


Mutual Funds

70


KEY M ETRI CS

Mutual Funds Key Metrics

71


Mutual Funds1

Assets under management (AUM), end of period $66,759 $61,611 $57,925

Sales $11,617 $11,843 $16,632

Redemptions $(15,699) $(16,261) $(21,463)

Net flows $(4,082) $(4,418) $(4,831)

Total

AUM, end of period $92,397 $87,647 $85,538

Core earnings $58 $74 $98

Core earnings ROA (bps)2 8.6 8.5 10.5

1. Mutual Funds excludes annuity mutual fund assets that are held in separate account supporting variable insurance and investment products

2. Denotes financial measure not calculated based on generally accepted accounting principles


FOCUS

Focused On Growing Retail Mutual Funds

72

Manager Name AUM

($ in millions, as

of 12/31/2012)

1 American Funds $919,769

2 PIMCO LLC $563,714

3 Franklin Templeton $391,899

4 BlackRock $191,422

5 JP Morgan Funds $177,198

6 DFA $171,600

7 Oppenheimer Funds $161,786

8 Columbia Mgmt $151,583

9 Invesco $131,910

10 MFS $114,524

11 Nuveen $100,429

12 Wells Fargo $94,612

13 Eaton Vance $92,071

14 Lord Abbett $88,533

15 American Century $88,185

16 John Hancock $81,164

17 Principal Funds $80,269

18 Legg Mason $79,492

19 Waddell & Reed $75,323

20 Dreyfus $71,358

Manager Name AUM

($ in millions)

21 Harbor Capital $69,474

22 Alliance Bernstein $64,931

23 Goldman Sachs $62,941

24 First Eagle $57,581

25 Federated $55,899

26 Thornburg $55,388

27 Grantham Mayo $54,545

28 Putnam $54,468

29 Prudential Financial $54,295

30 Mainstay Funds $52,895

31 The Hartford $50,095

32 DWS Investments $49,608

33 TCW $48,862

34 NGAM Advisors $44,467

35 Northern Trust $42,300

36 Allianz Global $40,162

37 Delaware $36,835

38 Russell Invst Group $35,245

39 Pioneer $34,771

40 Loomis Sayles $29,394

Key drivers:

• Strong investment performance

• Increasing focus on most

important distribution partners

• Increasing sales force

productivity

• Driving organic growth and

improving net flows

• Attractive investment solutions

appropriate for any market

cycle

Source: Strategic Insight, 12/31/2012


42%

65% 66%

54% 54% 55%

2008 2009 2010 2011 2012 2013

One Year Basis

PERFORMANCE

55% of Retail Mutual Funds Beat Their Peers Over Past Year

73

Percent of Funds1 Outperforming Morningstar Peers

• One and three year results solid at the end of 3Q13, with 55% beating

benchmark on a 1 year basis

52% 51% 45%

61% 65%

58%

2008 2009 2010 2011 2012 2013

Three Year Basis

1:HMF Funds only on Morningstar net of fees basis


PERFO RM ANCE

Mutual Funds Improving Sales/Flows Trends

74

$66.9

$57.9 $61.6

$2.2

($4.8) ($4.4)

2010 2011 2012

AUM

Net Flows

$16.6 $16.6 $11.8

($14.4)

($21.5) ($16.3)

$2.2

($4.8) ($4.4)

2010 2011 2012

Sales

Redemptions

Net Flows

Mutual Funds1 AUM and Net Flows ($ in billions)

Mutual Funds1 Sales and Redemptions ($ in billions)

1. Excludes annuity mutual fund assets (Company sponsored mutual fund assets that are held in separate accounts supporting variable insurance and investment products.)


PERFO RM ANCE

Outlook Boosted By Strong Foundation Laid In 2012

75

• Long term contract with Wellington in place for management of entire portfolio

• Strengthened management team

• Best year of performance in the history of Hartford Mutual Funds

– Almost 80% of funds outperformed their Lipper peers on a one-year basis vs. 35% in 2011

• 4Q12 sales of $3 billion was highest quarter of the year, with continued growth in 2013

• New logo with Wellington co-brand

• Standalone website and digital marketing push

• Ranked #3 in the Barron’s Fund Family one-year rankings

• Wealth management sales complete creating less "noise” in the market

• Mutual fund sales up 34% year-to-date compared to 2012

Established strong foundation in 2012 and transition complete

Launched new brand in 2013

Building momentum in 2013


KEY TAKE AW AYS

Mutual Funds Key Takeaways

Strong fund family with investment solutions appropriate for any market cycle

Positioned for improved net flows and sales growth

Enhanced distribution and marketing

76


Talcott Resolution

77


KEY M ETRI CS

Talcott Resolution Key Metrics

78

($ in millions) YTD 13 2012

Core earnings $562 $827

U.S. Variable Annuity:

Net flows $(11,205) $(11,387)

Account value $61,512 $64,825

Full surrender rate 17.5% 10.9%

Core earnings ROA, after tax (bps) 113.5 44.3

Japan Variable Annuity:

Net flows $(5,475) $(2,207)

Account value $22,846 $29,546

Full surrender rate 24.6% 3.4%

Core earnings ROA, after tax (bps) 117.7 83.3

Total Talcott Resolution account value $219,149 $228,143


Talcott Resolution Account Value1

$154.0 Billion as of Sept. 30, 2013 • VA block:

– 56% of Talcott account value

• Non-VA block:

– Private Placement Life Insurance

(COLI/BOLI): Experience-rated

mortality risk

– Institutional: Interest rate risk

– Fixed Annuity: Interest rate risk

4

1. Total account value includes the separate account and general account. Figure excludes the account value associated with the Retirement Plans and Individual Life businesses

VA

56%

FA

9%

Institutional

10%

PPLI

25%

Talcott Resolution Is Predominately Variable Annuity

79


VA Account Value ~75% U.S. and ~25% Japan

VA Account Value By Country

$84.4 Billion as of Sept. 30, 2013

*Total Account Value = Separate Account + General Account

Japan

27% U.S.

73%

VA Contracts By Country

1.1 Million as of September 30, 2013

U.S.

70% Japan

30%


Nu

mb

er

of

VA

co

ntr

acts

, in

th

ou

san

ds

Projected1 Actual

PERFO RM ANCE

Actively Managing the Runoff of Talcott Resolution

81

Core Earnings

($ in millions)

$250 $241

$209 $256

$149 $65

YTD 12 YTD 13

Other

Japan

US Annuity

$562 $608

-

500

1,000

1,500

2,000

2,500

2007 2012 2013 2014 2015 2016 2017 2018

Prior projection

Current projection

1. Assumed 2012 organic attrition rate, exclusive of in-force management initiatives, and based on projected mortality, annuitization and surrender rates at Dec. 31, 2012.

2. Prior projection was as of December 31, 2012 and provided on April 11, 2013.

3. Current projection of (65%) is referred to by the arrow. Prior projection was a decline of (50%).

-30%

-65%

2

3


PERFO RM ANCE

Actively Managing The Runoff Of Talcott Resolution

82

$0.3

$4.3

$7.1

$2.3 $2.7

$6.5

$0.1

$2.7

$5.3

$2.2 $2.5

$5.8

2013 2014 2015 2016 2017 2018+ Dec. 31, 2012 Sept. 30, 2013

Japan VA: Timing of GMIB Account Values Eligible For

Annuitization

• Nearly half of GMIB account value able to annuitize by year-end 2015

– Vintages most out-of-the-money are rolling off fastest

– 2013 – 2016 vintages account for 20% of NAR and have declined 26% since Dec. 31, 2012

– 2017+ vintages account for 80% of NAR and have declined 10% since Dec. 31, 2012

NAR ($ in billions)

$0.0 $0.0 $0.0 $0.1 $0.2 $0.2

% ITM 0% 0% 20% 91% 97% 58%


PERFO RM ANCE


83

($ in millions) 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13

US Variable Annuity Net Flows ($3,259) ($2,704) ($2,783) ($3,308) ($3,728) ($4,170)

Japan Variable Annuity Net Flows ($499) ($434) ($505) ($914) ($2,463) ($2,100)

US Full Surrender Rate 13.0% 10.4% 10.4% 14.5% 17.5% 20.3%

US Partial Surrender Rate 4.7% 4.4% 5.2% 4.4% 3.9% 4.2%

Japan Full Surrender Rate 3.9% 3.0% 3.7% 9.6% 34.8% 30.8%

Japan Partial Surrender Rate 0.6% 0.6% 0.6% 0.6% 0.7% 0.7%

VA Net Flows and Surrender Rates


PERFO RM ANCE


84

$31.2 $29.5 $22.8

2011 2012 3Q13

$68.8 $64.8

$61.5

2011 2012 3Q13

$4.8 $3.9

$3.4

2011 2012 3Q13

$11.6 $10.8 $10.5

2011 2012 3Q13

U.S. VA Account Value ($ in billions)

U.S. Fixed Annuity Account Value ($ in billions)

International VA Account Value1 ($ in billions)

International Fixed Annuity Account Value1 ($ in billions)

11% 10%

27%

29%

1. 2011 and 2012 International Variable Annuity data includes the U.K. variable annuity business. 3Q13 data represents Japan only


PERFO RM ANCE

Improving VA Retained NAR And In-The-Moneyness

85

Sept. 30, 2013

($ in billions)

Account

Value

Gross

NAR Retained NAR

% of Contracts In-

The-Money (ITM)3

% In-The-

Money4

U.S. VA1

GMDB2 $61.5 $4.7 $1.2 22% 19%

GMWB $30.9 $0.2 $0.2 9% 9%

Japan VA1

GMDB $22.8 $1.6 $1.2 56% 9%

GMIB $21.1 $0.5 $0.5 47% 5%

[1] Policies with a guaranteed living benefit (a GMWB in the U.S. or a GMIB in Japan) also have a guaranteed death benefit. The net amount at risk (“NAR”) for

each benefit is shown; however these benefits are not additive. When a policy terminates due to death, any NAR related to GMWB or GMIB is released.

Similarly, when a policy goes into benefit status on a GMWB or, by contract, the GMDB NAR is reduced to zero. When a policy goes into benefit status on a

GMIB, its GMDB NAR is released.

[2] Excludes group annuity contracts with GMDB benefits.

[3] Excludes contracts that are fully reinsured.

[4] For all contracts that are “in the money”, this represents the percentage by which the average contract was in the money.


86

PERFO RM ANCE

Talcott Resolution VA Guarantees Retained NAR

And In-the-Moneyness

$5.1

$2.2

$1.2

77%

48%

22% 15%

13%

19%

2011 2012 3Q13 Retained NAR % of contracts ITM % ITM

U.S. GMDB

$1.6

$0.5

$0.2

45%

23%

9% 12%

9%

9%


U.S. GMWB

$9.4

$4.8

$1.3

99% 98%

56%

27% 18% 9%

2011 2012 3Q13

Retained NAR % of contracts ITM % ITM

Japan GMDB

$7.5

$3.3

$0.5

99% 97%

47%

22% 12%

5%


Japan GMIB


Talcott Resolution Key Takeaways

Focus on reducing size and risk

Natural run off of block with large amount of annuitization over the next several years

Robust risk management reduces risk

87


Capital and Investments

88


Strong Capital Position

89

Sept. 30,

2013

Dec. 31,

2012

Dec. 31,

2011

Debt

Short-term debt $200 $320 -

Senior notes 5,006 5,706 4,481

Junior subordinated debentures 1,100 1,100 1,735

Total debt1,2,3 $6,306 $7,126 $6,216

Stockholders’ equity

Common stockholders’ equity, ex-AOCI $18,945 $19,048 $19,679

Preferred stock - 556 556

AOCI 17 2,843 1,251

Total stockholders’ equity $18,928 $22,447 $21,486

Capitalization

Total capitalization, incl. AOCI, after tax $25,234 $29,573 $27,702

Total capitalization, excl. AOCI, after tax $25,251 $26,730 $26,451

Debt to capitalization ratios2

Total debt to capitalization, incl. AOCI 25.0% 24.1% 22.4%

Total debt to capitalization, excl. AOCI 25.0% 26.7% 23.5%

Total rating agency adj. debt to capitalization4,5 28.5% 27.4% 26.5%

[1] On July 15, 2013, the Company repaid $320 of

4.625% senior notes.

[2] On April 18, 2013, the Company issued $300

of 4.3% senior notes due in 2043. On April 5,

2012, the Company issued $1.55 billion

aggregate principal amount of senior notes

and $600 of junior subordinated debentures.

The Company used the proceeds from these

debt issuances to repurchase all of the

outstanding 10% fixed to floating rate junior

subordinated debentures due 2068 with a

$1.75 billion aggregate principal amount held

by Allianz SE for $2.125 billion.

[3] The Hartford excludes consumer notes from

total debt for capital structure analysis.

Consumer notes were $83, $161, and $314 as

of Sept. 30, 2013, December 31, 2012 and

December 31, 2011, respectively.

[4] Reflects a rating agency assignment in the

leverage calculation of an estimate of the

adjusted unfunded pension liability of the

Company’s defined benefit plans and six times

the Company's rental expense on operating

leases for total adjustments of $1.6 billion, $1.7

billion, and $1.6 billion for the three months

ended Sept. 30, 2013, December 31, 2012

and December 31, 2011, respectively.

[5] Reflects 25% equity credit for the junior

subordinated debentures and the discount

value of the debentures issued in October

2008. Reflects 100% equity credit for the

mandatorily convertible preferred stock.


Financial Strength And Debt Ratings

90

A.M Best Fitch Standard &

Poor’s Moody’s

As of Oct. 29, 2013

Insurance Financial Strength Ratings:

Hartford Fire Insurance Company A A+ A A2

Hartford Life Insurance Company A- A- BBB+ A3

Hartford Life and Accident Insurance Company A- A- A- A3

Hartford Life and Annuity Insurance Company A- A- BBB+ Baa2

Other Ratings:

The Hartford Financial Services Group, Inc.:

Senior debt bbb+ BBB BBB Baa3

Commercial paper AMB-2 F2 A-2 P-3


$ in billions 4Q12 3Q13

U.S. statutory surplus at the beginning of the quarter $15.3 $14.7

Transaction impacts (0.4) -

Variable annuity surplus impacts (0.4) (0.1)

Impact of Mutual Funds (0.2) -

Other statutory surplus impacts1 0.1 0.3

Subtotal $(1.0) 0.0

Net (dividends to) contributions from holding company (0.2) (0.2)

Net change to U.S. statutory surplus during the quarter $(1.2) $0.0

Capital resources at end of quarter: 4Q12

U.S. P&C insurance subsidiaries $7.7 $7.8

U.S. life insurance subsidiaries 6.4 $6.9

Total U.S. statutory surplus at the end of the quarter $14.1 $14.7

Japan HLIKK (JGAAP) 1.1 1.2

Total insurance company capital resources $15.2 $15.9

Holding company cash and short term investments 1.4 1.8

Total capital resources at the end of the quarter $16.6 $17.7

1. Other includes statutory impacts from the Life and P&C businesses as well as investment and credit related impacts

* Totals may not add due to rounding

Substantial Capital Resources

91


The Hartford Maintains a High Quality Investment Portfolio

92

General Account Invested Assets by Sector (Book Value of $78.9 billion as of 9/30/2013)

• The general account portfolio of The Hartford is

strong, highly diversified, and well positioned for

an uncertain economy

• The general account portfolio is designed to

emphasize prudent balancing of NII and total

returns within asset-liability management, risk,

and capital parameters

• Overall decline in book value is due to the sale of

the Retirement Plans and Individual Life business

Fixed Maturities by Rating: (Book Value in $ millions)

3Q13 2012 2011

U.S. Government 8,928 10,481 8,901

AAA 6,190 8,646 9,631

AA 12,614 14,939 15,471

A 14,623 20,396 19,501

BBB 15,692 20,833 20,972

BB & Below 4,180 4,452 4,502

Total Fixed Maturities, AFS 62,227 79,747 79,978

Weighted average credit quality A A A

Govt/govt

agencies

10%

RMBS 6%

Corporate

36%


Recent Financial Information

93


94


Three Months Ended

Sept. 30

2013

Sept. 30

2012

P&C Commercial

Combined ratio 98.1 99.1

Catastrophe ratio 2.3 0.5

Non-catastrophe prior year development 2.4 1.1

Combined ratio before PYD & catastrophes 93.3 97.5

Consumer Markets

Combined ratio 91.9 87.9

Catastrophe ratio 1.1 (0.7)

Non-catastrophe prior year development (0.3) (4.7)

Combined ratio before PYD & catastrophes 91.1 93.3

Book value per diluted common share, including AOCI $38.87 $45.80 -15%

Less: Per diluted share impact of AOCI ($0.04) $5.80 -101%

Book value per diluted common share, excluding AOCI $38.91 $40.00 -3%

Dec. 31,

2012

Sept. 30

2013Change

As of

The Hartford uses non-GAAP financial measures in this presentation to assist investors in analyzing the company's operating performance for the periods presented herein. Because

The Hartford's calculation of these measures may differ from similar measures used by other companies, investors should be careful when comparing The Hartford's non-GAAP

financial measures to those of other companies. Definitions and calculations of other financial measures used in this presentation can be found below and in The Hartford's Investor

Financial Supplement for the second quarter of 2013, which is available on The Hartford's website, http:// ir.thehartford.com.

Book value per diluted common share excluding accumulated other comprehensive income ("AOCI”): Book value per diluted common share excluding AOCI is a non-GAAP financial

measure based on a GAAP financial measure. It is calculated by dividing (a) common stockholders' equity excluding AOCI, after tax, by (b) common shares outstanding and dilutive

potential common shares. The Hartford provides book value per diluted common share excluding AOCI to enable investors to analyze the company’s stockholders’ equity excluding

the effect of changes in the value of the company’s investment portfolio and other assets due to interest rates, currency and other factors. The Hartford believes book value per

diluted common share excluding AOCI is useful to investors because it eliminates the effect of items that can fluctuate significantly from period to period, primarily based on changes

in market value. Stockholders’ equity per diluted common share is the most directly comparable GAAP measure. A reconciliation of stockholders’ equity per diluted common share to

book value per diluted common share excluding AOCI as of Sept. 30, 2013 and Dec. 31 2012, is set forth below.

Combined ratio before catastrophes and prior year development: Combined ratio before catastrophes and prior year development is a non-GAAP financial measure. Combined ratio is

the most directly comparable GAAP measure. The combined ratio is the sum of the loss and loss adjustment expense ratio, the expense ratio and the policyholder dividend ratio. This

ratio measures the cost of losses and expenses for every $100 of earned premiums. A combined ratio below 100% demonstrates a positive underwriting result. A combined ratio

above 100% indicates a negative underwriting result. The combined ratio before catastrophes and prior year development represents the combined ratio for the current accident year,

excluding the impact of catastrophes and prior year development. The company believes this ratio is an important measure of the trend in profitability since it removes the impact of

volatile and unpredictable catastrophe losses and prior accident year loss and loss adjustment expense reserve. A reconciliation of the combined ratio to the combined ratio before

catastrophes and prior year development is provided in the table below.

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Discussion Of Non-GAAP Financial Measures


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Core Earnings: The Hartford uses the non-GAAP financial measure core earnings as an important measure of the Company's operating

performance. The Hartford believes that core earnings provides investors with a measure of the performance of the company's operating

insurance and financial services businesses before the net effect of certain realized capital gains and losses, discontinued operations, DAC

unlock, restructuring and other expenses and loss from the extinguishment of debt, which better enables investors to see fundamental trends in

the operating businesses. In the fourth quarter of 2012, the company changed the definition of core earnings to also exclude additional items that

may obscure trends in our businesses, including restructuring charges and the impact of Unlocks to deferred policy acquisition costs (“DAC”),

sales inducement assets ("SIA"), unearned revenue reserve ("URR") and death and other insurance benefit reserve balances. Some realized

capital gains and losses are primarily driven by investment decisions and external economic developments, the nature and timing of which are

unrelated to the insurance and underwriting aspects of our business.

Accordingly, core earnings excludes the effect of all realized gains and losses (after tax and the effects of DAC) that tend to be highly variable

from period to period based on capital market conditions. The Hartford believes, however, that some realized capital gains and losses are

integrally related to our insurance operations, so core earnings includes net realized gains and losses such as net periodic settlements on credit

derivatives and net periodic settlements on the Japan fixed annuity cross-currency swap. These net realized gains and losses are directly

related to an offsetting item included in the income statement such as net investment income. Net income is the most directly comparable GAAP

measure. Core earnings should not be considered as a substitute for net income and does not reflect the overall profitability of the Company's

business. Therefore, The Hartford believes that it is useful for investors to evaluate both net income and core earnings when reviewing the

company's performance. A reconciliation of core earnings to net income as of Sept. 30, 2013 and Dec. 31, 2012 is included in this presentation.

A reconciliation of core earnings to net income for individual reporting segments can be found in The Hartford's Investor Financial Supplement

for the third quarter of 2013.

Core earnings available to shareholders per diluted share: Core earnings available to common shareholders per diluted share is calculated

based on the non-GAAP financial measure core earnings. It is calculated by dividing (a) core earnings, by (b) diluted shares outstanding. The

Hartford believes that the measure core earnings per diluted share provides investors with a valuable measure of the company's operating

performance for the same reasons applicable to its underlying measure, core earnings. Net income per diluted common share is the most

directly comparable GAAP measure. Core earnings available to shareholders per diluted share should not be considered as a substitute for net

income per diluted share and does not reflect the overall profitability of the company's business.

Therefore, The Hartford believes that it is useful for investors to evaluate both net income per diluted share and core earnings available to

shareholders per share when reviewing the company's performance. A reconciliation of core earnings available to common shareholders per

diluted share to net income per diluted common share as of Sept. 30, 2013 and December 31, 2012 can be found in the news release reporting

earnings results for the third quarter of 2013, which is available on The Hartford's website, http:// ir.thehartford.com.


Three Months Ended

Sept. 30

2013

Sept. 30

2012

P&C Commercial

Net income $174 $164

Less: Income (loss) from discontinued operations 1 (2)

Less: Net realized capital gains (losses) (1) 10

Add: Income tax expense 62 54

Less: Net servicing income 5 5

Less: Goodwill impairment — —

Less: Other income (29) (31)

Less: Net investment income 230 222

Underwriting gain $30 $14

Consumer Markets

Net income $68 $94

Less: Net realized capital gains 1 2

Add: Income tax expense 32 45

Less: Net servicing income 5 2

Less: Other income (14) (13)

Less: Net investment income 33 38

Underwriting gain $75 $110

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Underwriting gain (loss): The Hartford's management evaluates profitability of the P&C Commercial and Consumer Markets segments primarily

on the basis of underwriting gain or loss. Underwriting gain (loss) is a before-tax measure that represents earned premiums less incurred losses,

loss adjustment expenses and underwriting expenses. Net income (loss) is the most directly comparable GAAP measure. Underwriting gain

(loss) is influenced significantly by earned premium growth and the adequacy of The Hartford's pricing. Underwriting profitability over time is also

greatly influenced by The Hartford's underwriting discipline, as management strives to manage exposure to loss through favorable risk selection

and diversification, effective management of claims, use of reinsurance and its ability to manage its expenses. The Hartford believes that the

measure underwriting gain (loss) provides investors with a valuable measure of profitability, before tax, derived from underwriting activities,

which are managed separately from the company's investing activities. A reconciliation of underwriting results to net income as of Sept. 30, 2013

and Sept. 30, 2012, is set forth below.

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