Equity

3 Months Ended

Mar. 31, 2014

Equity [Abstract]

Equity

Equity

In January 2014, the Board of Directors approved an increase in the Company's authorized equity repurchase program that provides the Company with the ability to repurchase $2 billion in equity during the period commencing on January 1, 2014 and ending on December 31, 2015.

During the three months endedMarch 31, 2014, the Company repurchased 8.8 million common shares for $300. In addition, the Company repurchased 8.7 million common shares, for $300, from April 1, 2014 to April 23, 2014. The warrants outstanding at March 31, 2014 were 22.6 million.

The declaration of a quarterly common stock dividend of $0.15 during the first quarter of 2014 triggered a provision in The Hartford’s Warrant Agreement with The Bank of New York Mellon, relating to warrants to purchase common stock issued in connection with the Company’s participation in the Capital Purchase Program, resulting in an adjustment to the warrant exercise price. The warrant exercise price at March 31, 2014 was $9.478.