Segment Information

3 Months Ended

Mar. 31, 2012

Segment Information [Abstract]

Segment Information

3. Segment Information

The Company is organized into four divisions: Commercial Markets, Consumer Markets, Wealth Management and Runoff Operations and conducts business principally in nine reporting segments, as well as the Corporate category. Starting in the second quarter of 2012, financial results for the Individual Annuity segment, which consists of U.S. variable, fixed and fixed indexed annuities, will be reported in the Life Other Operations segment. The Company’s reporting segments as of March 31, 2012 are as follows:

Commercial Markets

Property & Casualty Commercial

Property & Casualty Commercial provides workers’ compensation, property, automobile, marine, livestock, liability and umbrella coverages primarily throughout the United States (“U.S.”), along with a variety of customized insurance products and risk management services including professional liability, fidelity, surety, and specialty casualty coverages.

Group Benefits

Group Benefits provides employers, associations, affinity groups and financial institutions with group life, accident and disability coverage, along with other products and services, including voluntary benefits, and group retiree health.

Consumer Markets

Consumer Markets provides standard automobile, homeowners and home-based business coverages to individuals across the U.S., including a special program designed exclusively for members of AARP. Consumer Markets also operates a member contact center for health insurance products offered through the AARP Health program.

Wealth Management

Individual Annuity

Individual Annuity offers individual variable, fixed market value adjusted (“fixed MVA”), fixed index and single premium immediate annuities in the U.S.

Individual Life

Individual Life sells a variety of life insurance products, including variable universal life, universal life, and term life.

Retirement Plans

Retirement Plans provides products and services to corporations pursuant to Section 401(k) of the Internal Revenue Code of 1986, as amended (the “Code”), and products and services to municipalities and not-for-profit organizations under Sections 457 and 403(b) of the Code, collectively referred to as government plans.

Mutual Funds

Mutual Funds offers retail mutual funds, investment-only mutual funds and college savings plans under Section 529 of the Code (collectively referred to as non-proprietary) and proprietary mutual funds supporting insurance products issued by The Hartford.

Runoff Operations

Life Other Operations

Life Other Operations encompasses the administration of investment retirement savings and other insurance and savings products to individuals and groups outside of the U.S., primarily in Japan and Europe, as well as institutional annuity products and private placement life insurance.

Property & Casualty Other Operations

Property & Casualty Other Operations includes the Company’s management of certain property and casualty operations that have discontinued writing new business and substantially all of the Company’s asbestos and environmental exposures.

Corporate

The Company includes in the Corporate category the Company’s debt financing and related interest expense, as well as other capital raising activities; banking operations; certain fee income and commission expenses associated with sales of non-proprietary products by broker-dealer subsidiaries; and certain purchase accounting adjustments and other charges not allocated to the segments.

Financial Measures and Other Segment Information

Certain transactions between segments occur during the year that primarily relate to tax settlements, insurance coverage, expense reimbursements, services provided, security transfers and capital contributions. Also, one segment may purchase group annuity contracts from another to fund pension costs and annuities to settle casualty claims. In addition, certain inter-segment transactions occur that relate to interest income on allocated surplus. Consolidated net investment income is unaffected by such transactions.

The following table presents net income (loss) for each reporting segment, as well as the Corporate category.

	Three Months Ended
	March 31,
Net income (loss)	2012			2011
Property & Casualty Commercial	$	189		$	323
Group Benefits		18			11
Consumer Markets		108			108
Individual Annuity		198			143
Individual Life		19			18
Retirement Plans		18			5
Mutual Funds		20			28
Life Other Operations		(405	)		(70	)
Property & Casualty Other Operations		27			21
Corporate		(96	)		(86	)
Net income	$	96		$	501

The following table presents revenues by product line for each reporting segment, as well as the Corporate category.

	Three Months Ended March 31,
Revenues	2012			2011
Earned premiums, fees, and other considerations
Property & Casualty Commercial
Workers’ compensation	$	733		$	665
Property		125			135
Automobile		146			146
Package business		292			283
Liability		141			135
Fidelity and surety		52			55
Professional liability		68			79
Total Property & Casualty Commercial		1,557			1,498
Group Benefits
Group disability		443			477
Group life and accident		479			517
Other		50			50
Total Group Benefits		972			1,044
Consumer Markets
Automobile		632			672
Homeowners		277			284
Total Consumer Markets [1]		909			956
Individual Annuity
Variable annuity		349			436
Fixed / MVA and other annuity		19			4
Total Individual Annuity		368			440
Individual Life
Variable life		87			90
Universal life		126			106
Term / Other life		14			13
Total Individual Life		227			209
Retirement Plans
401(k)		84			84
Government plans		12			13
Total Retirement Plans		96			97
Mutual Funds
Non-Proprietary		136			162
Proprietary		15			16
Total Mutual Funds		151			178
Life Other Operations		244			254
Property & Casualty Other Operations		—			—
Corporate		52			52
Total earned premiums, fees, and other considerations		4,576			4,728
Net investment income:
Securities available-for-sale and other		1,070			1,108
Equity securities, trading		2,866			803
Total net investment income		3,936			1,911
Net realized capital losses		(910	)		(403	)
Other revenues		59			64
Total revenues	$	7,661		$	6,300

[1] For the three months ended March 31, 2012 and 2011, AARP members accounted for earned premiums of $676 and $698, respectively.