The Hartford 2011 Annual Report Download - page 149

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THE HARTFORD FINANCIAL SERVICES GROUP, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
F-14
3. Segment Information (continued)
Runoff Operations
Life Other Operations
Life Other Operations consists of the international annuity business of the former Global Annuity reporting segment as well as certain
product offerings previously included in the former Global Annuity and Life Insurance reporting segments. Life Other Operations
encompasses the administration of investment retirement savings and other insurance and savings products to individuals and groups
outside of the U.S., primarily in Japan and Europe, as well as institutional annuity products and private placement life insurance.
Property & Casualty Other Operations
Property & Casualty Other Operations, previously included in the former Corporate and Other category, includes the Company’ s
management of certain property and casualty operations that have discontinued writing new business and substantially all of the
Company’ s asbestos and environmental exposures.
Corporate
The Company includes in the Corporate category the Company’ s debt financing and related interest expense, as well as other capital
raising activities; banking operations; certain fee income and commission expenses associated with sales of non-proprietary products by
broker-dealer subsidiaries; and certain purchase accounting adjustments and other charges not allocated to the segments. The former
Corporate and Other category was renamed for 2011 segment reporting due to the inclusion of the Property & Casualty Other
Operations as a separate reporting segment in the new Runoff Operations division.
Financial Measures and Other Segment Information
Certain transactions between segments occur during the year that primarily relate to tax settlements, insurance coverage, expense
reimbursements, services provided, security transfers and capital contributions. Also, one segment may purchase group annuity
contracts from another to fund pension costs and annuities to settle casualty claims. In addition, certain inter-segment transactions occur
that relate to interest income on allocated surplus. Consolidated net investment income is unaffected by such transactions.
The following table presents net income (loss) for each reporting segment, as well as the Corporate category.
For the years ended December 31,
Net income (loss)
2011 2010 2009
Property & Casualty Commercial $ 528 $ 995 $ 899
Group Benefits
90
185
193
Consumer Markets
5
143
140
Individual Annuity
(14)
527
(444)
Individual Life
133
229
15
Retirement Plans
15
47
(222)
Mutual Funds
98
132
34
Life Other Operations
358
(90)
(698)
Property & Casualty Other Operations
(117)
(53)
(78)
Corporate
(434)
(435)
(726)
Net income (loss)
$
662
$
1,680
$
(887)