The Hartford’s CEO Tells Shareholders He Is Optimistic of Future

April 19, 2002

The events of 2001 tested the company’s resilience, but through it all The Hartford’s operating income rose and the company is bullish about the future, Ramani Ayer, Chairman and CEO of The Hartford Financial Services Group, Inc., remarked at the company’s annual shareholder meeting.

“Wall Street views our company as a very disciplined organization. It likes our diverse platform between property-casualty and life operations, and our distribution expertise through strategic alliances,” Ayer commented.

Despite equity markets in 2001 that were uncertain, and catastrophic property-casualty losses, The Hartford’s operating income grew seven percent (excluding the effect of Sept. 11 and certain tax benefits).

Ayer noted that while property/casualty operations were hard-hit by Sept. 11, prices are improving, and the company has made prudent underwriting decisions.

“These actions will improve property-casualty earnings in 2002 and 2003,” Ayer added.

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