The Hartford 2008 Annual Report Download - page 154

Table of Contents
INTERNATIONAL
Operating Summary 2008 2007 2006
Fee income $ 881 $ 843 $ 709
Earned premiums (9) (11) (8)
Net investment income 167 131 123
Net realized capital losses (422) (116) (88)
Total revenues [1] 617 847 736
Benefits, losses and loss adjustment expenses 270 32 3
Insurance operating costs and other expenses 321 246 208
Amortization of deferred policy acquisition costs 496 214 167
Total benefits, losses and expenses 1,087 492 378
Income (loss) before income taxes (470) 355 358
Income tax expense (benefit) (145) 132 127
Net income (loss) [2] $ (325) $ 223 $ 231
Assets Under Management – Japan 2008 2007 2006
Japan variable annuity account values $ 29,726 $ 35,793 $ 29,653
Japan fixed annuity and other account values [3] 4,769 1,844 1,690
Total assets under management – Japan $ 34,495 $ 37,637 $ 31,343
[1] The transition impact related to the SFAS 157 adoption was a reduction in revenues of $34, for the year ended
December 31, 2008. For further discussion of the SFAS 157 transition impact, refer to Note 4 of the Notes to the
Consolidated Financial Statements.
[2] The transition impact related to the SFAS 157 adoption was a reduction in net income of $11, for the year ended
December 31, 2008. For further discussion of the SFAS 157 transition impact, refer to Note 4 of the Notes to the
Consolidated Financial Statements.
[3] Japan fixed annuity and other account values includes an increase due to the net triggering impact of the GMIB
pay-out annuity account value for the 3 Win product of $2.0 billion.
International, with operations in Japan, Brazil, Ireland and the United Kingdom, focuses on the savings and retirement needs
of the growing number of individuals outside the United States who are preparing for retirement, or have already retired,
through the sale of variable annuities, fixed annuities and other insurance and savings products. The Company’s Japan
operation is the largest component of the International segment.
89
Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009