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The Hartford 2008 Annual Report Download - page 101

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to obtain either a price from a third party pricing service or an independent broker quotation. The pricing matrix used by the

Company begins with current spread levels to determine the market price for the security. The credit spreads, as assigned by

a knowledgeable private placement broker, incorporate the issuer’s credit rating and a risk premium, if warranted, due to the

issuer’s industry and the security’s time to maturity. The issuer-specific yield adjustments, which can be positive or

negative, are updated twice per year, as of June 30 and December 31, by the private placement broker and are intended to

adjust security prices for issuer-specific factors. The Company assigns a credit rating to these securities based upon an

internal analysis of the issuer’s financial strength.

Source: HARTFORD FINANCIAL S, 10-K, February 12, 2009