This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Hartford Reports Fourth Quarter And Full Year 2013 Financial Results; Announces 2014 Outlook And Capital Management Plan For 2014 And 2015

Stocks in this article: HIG

Total assets under management (AUM) rose 10% to $96.7 billion at Dec. 31, 2013 from $87.6 billion at Dec. 31, 2012 due to 15% growth in Mutual Funds AUM during that time period, partially offset by a 1% decline in Annuity AUM, as a result of surrender activity on the company's U.S. VA block.

Mutual Funds AUM increased due to strong sales and market appreciation, partially offset by redemptions. Mutual Funds sales rose 13% to $3.6 billion from $3.2 billion in the fourth quarter 2012 while net outflows improved to $0.4 billion, compared with $1.1 billion in fourth quarter 2012.

TALCOTT RESOLUTIONFourth Quarter 2013 Highlights:

  • Japan VA and U.S. VA policy count declined 26% and 14%, respectively, in 2013, reflecting a permanent reduction in risk
  • Japan VA and U.S. VA annualized full surrender rates of 42% and 15%, respectively
  • Completed the sale of the U.K. VA company to a subsidiary of Berkshire Hathaway in December 2013
($ in millions)       Three Months Ended
        Dec. 31 2013     Dec. 31 2012     Change
Core earnings       $173     $202     (14%)
Net loss       $(15)     $(148)     90%
U.S. VA annualized full surrender rate 1       14.5%     10.4%     4.1
Japan VA annualized full surrender rate 1       41.5%     3.7%     37.8
U.S. VA account value       $61,812     $64,824     (5%)
Japan VA account value       $20,130     $27,716     (27%)

[1] Full surrender rate represents full contract liquidation; excludes partial withdrawals

Talcott Resolution fourth quarter 2013 core earnings were $173 million, a 14% decrease compared with $202 million in fourth quarter 2012 due to the loss of earnings from sold businesses and the continued runoff of the annuity block, partially offset by lower DAC amortization expenses and favorable investment income from limited partnerships and other alternative investments. Fourth quarter 2012 core earnings from the Individual Life and Retirement Plans businesses that were sold in January 2013 totaled $43 million.

9 of 16

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs