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The Hartford 2008 Annual Report Download - page 268

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The Company participates in securities lending programs to generate additional income, whereby certain domestic fixed

income securities are loaned from the Company’s portfolio to qualifying third party borrowers, in return for collateral in the

form of cash or U.S. government securities. Borrowers of these securities provide collateral of 102% of the market value of

the loaned securities and can return the securities to the Company for cash at varying maturity dates. As of December 31,

2008, the Company loaned securities with a fair value of $2.9 billion and had received collateral against the loaned securities

in the amount of $3.0 billion. The Company reduced its securities lending program by $1.4 billion since December 31, 2007

and plans to significantly reduce its term lending program in 2009 as securities mature.

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