The Hartford 2014 Annual Report Download - page 32

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(Dollar amounts in millions, except for per share data, unless otherwise stated)
The Hartford provides projections and other forward-looking information in the following discussions, which contain many forward-looking statements,
particularly relating to the Company’s future financial performance. These forward-looking statements are estimates based on information currently available
to the Company, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to the cautionary
statements set forth on pages 3 and 4 of this Form 10-K. Actual results are likely to differ, and in the past have differed, materially from those forecast by the
Company, depending on the outcome of various factors, including, but not limited to, those set forth in each discussion below and in Part I, Item 1A, Risk
Factors. The Hartford undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future
developments or otherwise.
Certain reclassifications have been made to prior year financial information presented in Management’s Discussion and Analysis of Financial Condition and
Results of Operations ("MD&A") to conform to the current year presentation. In 2014, the Company refined the definition of underwriting expenses by
including certain centralized services and bad debt expenses in the determination of underwriting results for the Commercial Lines, Personal Lines and
Property & Casualty Other Operations reporting segments. The reclassification of certain centralized services and bad debt expenses from other income
(expenses) did not impact previously reported net income.
The Hartford defines increases or decreases greater than or equal to 200% as “NM” or not meaningful.
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The Hartford's Operations 33
Consolidated Results of Operations 35
Investment Results 37
Critical Accounting Estimates 41
Key Performance Measures and Ratios 66
Commercial Lines 71
Personal Lines 74
Property & Casualty Other Operations 78
Group Benefits 79
Mutual Funds 81
Talcott Resolution 83
Corporate 86
Enterprise Risk Management 88
Capital Resources and Liquidity 117
Impact of New Accounting Standards 129
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