Hartford Financial Services Group Inc. is a diversified U.S. insurance and financial services company. It offers investment products and a range of insurance products, including individual life, group life, group disability, and property and casualty. Hartford was a big player in variable annuities, which were hit hard in the credit crisis. The company is currently examining its annuity business, pulling back on unprofitable areas and raising some prices. The Hartford recently was a granted a thrift charter so its affiliates can receive capital under the federal bailout and received $3.4 billion in TARP funds.
Barron's once called the multiline insurer "the poor man's American International Group Inc.." The magazine also called it "solid, if unexciting," and maybe that's why it's still standing -- in contrast to its crippled rival. The company is still based in its namesake city of Hartford, Conn. Among its cherished traditions is its widely recognized stag logo, which is now prominent on its the firesuit of Indy 500 winner Dario Franchitti, a member Hartford's NASCAR team. For literary types, there is the Pulitizer Prize-winning Wallace Stevens, an ex-long-time employee and company vice president.
Chief executive officer Ramani Ayer plans to retire by the end of 2009, following the recent departure of president and COO Thomas Marra.
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