The Hartford 2010 Annual Report Download - page 30

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Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
(Dollar amounts in millions, except for per share data, unless otherwise stated)
Management’ s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) addresses the financial condition
of The Hartford Financial Services Group, Inc. and its subsidiaries (collectively, “The Hartford” or the “Company”) as of December 31,
2010, compared with December 31, 2009, and its results of operations for each of the three years in the period ended December 31,
2010. This discussion should be read in conjunction with the Consolidated Financial Statements and related Notes beginning on page F-
1. The Hartford made changes to its reporting segments in 2010 to reflect the manner in which the Company is currently organized for
purposes of making operating decisions and assessing performance. Accordingly, segment data for prior reporting periods has been
adjusted to reflect the new segment reporting, see Note 3 of the Notes to Consolidated Financial Statement for further discussion.
Additionally, certain reclassifications have been made to prior year financial information to conform to the current year presentation.
The Hartford defines increases or decreases greater than or equal to 200%, or changes from a net gain to a net loss position, or vice
versa, as "NM" or not meaningful.
INDEX
Description Page
Consolidated Results of Operations .................................................................................................................................................. 31
Outlooks ............................................................................................................................................................................................ 33
Critical Accounting Estimates........................................................................................................................................................... 34
The Hartford’ s Operations Overview................................................................................................................................................ 61
Key Performance Measures and Ratios............................................................................................................................................. 66
Property & Casualty Commercial ..................................................................................................................................................... 72
Group Benefits .................................................................................................................................................................................. 75
Consumer Markets ............................................................................................................................................................................ 76
Global Annuity.................................................................................................................................................................................. 79
Life Insurance.................................................................................................................................................................................... 82
Retirement Plans ............................................................................................................................................................................... 84
Mutual Funds .................................................................................................................................................................................... 86
Corporate and Other .......................................................................................................................................................................... 87
Insurance Risk Management ............................................................................................................................................................. 88
Investment Credit Risk Management ................................................................................................................................................ 92
Capital Markets Risk Management ................................................................................................................................................... 100
Capital Resources and Liquidity ....................................................................................................................................................... 111
Impact of New Accounting Standards............................................................................................................................................... 121