NEW YORK (AP) - An executive vice president of insurer and investment manager Hartford Financial Services Group Inc. sold 3,024 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Wednesday.
In a Form 4 filed with the SEC, Neal Wolin reported he sold the shares Monday for an average price of $92 apiece.
The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material nonpublic information.
About The Hartford Financial Services Group
Founded in 1810, The Hartford Financial Services Group, Inc. (NYSE: HIG) is one of the largest investment and insurance companies based in the United States, with offices in Japan, Brazil, Ireland, England, and the United States. With nearly 30,000 employees and $2.3 billion in income in 2005, The Hartford was ranked 78th on the 2006 Fortune 100 list.
The Hartford is a leading provider of investment products - annuities, mutual funds, college savings plans - as well as life insurance, group and employee benefits, automobile and homeowners' insurance, and business insurance.
The Hartford serves millions of customers worldwide - including individuals, institutions, and businesses - through independent agents and brokers, financial institutions, and online. About 11,000 independent agencies and more than 100,000 registered broker/dealers sell The Hartford's trusted products.
After nearly 200 years in business, The Hartford is known for its financial strength and stability, superior customer service, and continued operational excellence.
OverviewThe retail investment products team is a leading provider of investment vehicles designed to help individual investors achieve their long-term financial goals. We provide the investor access to superior asset management through such products as annuities, mutual funds, 529 college savings plans, and other specialty products. Mutual fund offerings include a range of risk and return profiles, from money market and bond funds to asset allocation and high-growth funds.
2006 highlightsVariable annuity assets exceeded $114 billion, up 9%.
Mutual fund business celebrated its 10-year anniversary; became the fastest retail-oriented fund family in history to reach $30 billion; and achieved record retail mutual fund assets of $38.5 billion, an increase of 33%.
Launched new variable annuity income benefits including Lifetime Income Builder II and Lifetime Income Foundation.
Award-winning annuity and mutual fund service, DALBAR Awards recipient.
Investor Advisor magazine named Woodbury Financial, a subsidiary retail broker-dealer, the “Broker/Dealer of the Year” in 2006 for companies with 1,000 or more reps.
OverviewThe retirement plans team provides 401(k) retirement plans for corporate customers, 457 plans for government entities, and 403(b) plans for education, health care, and non-profit organizations. The retirement plans team also supports small and mid-size company-sponsored retirement plans by offering employers the option of having full program administration handled by The Hartford.
2006 highlightsAssets under management exceeded $24 billion, a 21% increase over 2005.
401(k) sales/deposits exceeded $3.9 billion, up 21% over 2005.
Developed products to allow for expansion into small and mid-size markets.
OverviewThe institutional financial solutions team provides customized wealth creation and financial protection solutions for institutions, corporations, and high-net-worth individuals. We provide lifetime income products and other asset protection and wealth management solutions.
2006 highlightsSales/deposits of $6.2 billion, up 16% over 2005.
Institutional mutual fund sales of $991 million, up 23% over 2005.
Top provider of corporate- and bank-owned life insurance; Private Placement Life Insurance deposits of $1.1 billion, up 86% over 2005.
Leader in structured settlement sales.
Assets under management exceeded $50 billion, an 18% increase over 2005.
OverviewThe individual life insurance team offers a broad product portfolio of variable universal life, universal life, whole life, and term insurance. Our products provide liquidity for estate taxes, income replacement for families, protection and tax-preferred benefits for small businesses, and more. These products are distributed through a wide network of national and regional broker-dealer organizations, banks, and independent financial advisors, as well as through independent life and property-casualty agents and Woodbury Financial Services, a subsidiary retail broker-dealer.
2006 highlightsLeader in variable universal life insurance.
Record-breaking sales of $284 million, up 14% over 2005.
Life insurance in force exceeded $164 billion, an increase of 9%.
Launched private wealth management group to meet financial planning needs of ultra-affluent.
Introduced new term life portfolio.
Award-winning service, DALBAR Awards recipient.
OverviewThe group benefits insurance team provides a portfolio of insurance products to employers, associations, and affinity groups that offer protection to employees and group members. These products include short- and long-term disability insurance, and group life and accident insurance. Other specialty products include retiree health insurance policies sold through brokers and third-party administrators. The group benefits team also offers a comprehensive suite of voluntary employee insurance products and co hartford insuranceto meet the needs of today's consumers and company fire hartford insurance and car hartford insurance .
2006 highlightsNo. 1 seller of fully insured group disability insurance.
No. 3 seller of fully insured group life insurance.
Exceeded $4 billion of ongoing fully insured premium in 2006.
After-tax margins have expanded from 5% in 2000 to 7.3% in 2006.
OverviewThe Hartford's international team provides retirement savings, wealth creation, and financial protection solutions for individual investors in Japan, Brazil, and the United Kingdom.
2006 highlightsLeading provider of variable annuities in Japan, with a 26% share of the market's assets under management as of September 30, 2006.
Successfully launched an enhanced version of our variable annuity product in Japan in the third quarter of 2006 to address customer demand for shorter deferral periods.
First full year of European operations - offering unit-linked investment bonds (variable annuities) in the United Kingdom.
Consistent profitability and growth in Brazil operations.offers company hartford insurance.
