The Hartford 2014 Annual Report Download - page 207

Table of Contents




A rollforward of liabilities for group life, disability and accident, for unpaid losses and loss adjustment expenses follows:

  
      
Reinsurance recoverables 267 252 233
   

Current year 2,370 2,534 2,989
Prior years (11) (17) 52
   

Current year 1,161 1,207 1,460
Prior years 1,426 1,564 1,600
   
   
Reinsurance recoverables 271 267 252
      
The liability for unpaid losses and loss adjustment expenses for group life, disability and accident contracts was discounted to present value using rates based
on the Company’s earned investment yield estimated at the time the claims are incurred. The decrease in the provision for unpaid losses and loss adjustment
expenses related to prior years was due to favorable claim recoveries in both the group life and group disability lines of business, net of accretion of discount.
The liability for future policy benefits and unpaid losses and loss adjustment expenses is as follows:
 
Group life term, disability and accident unpaid losses and loss adjustment expenses $ 6,084 $ 6,308
Group life other unpaid losses and loss adjustment expenses 203 206
Individual life unpaid losses and loss adjustment expenses 171 167
Future policy benefits 13,180 12,988
    
F-71