Hartford Financial Services Group lifts FY08 core EPS outlook - Quick Facts

RTTNews
December 5, 2008


(RTTNews) - Hartford Financial Services Group Inc. (HIG) said that it has raised its fiscal 2008 core earnings outlook to a range of $4.70 - $4.90 per share, from the prior outlook of $4.30 - $4.50 per share. Analysts polled by First Call/Thomson Financial expect the company to report earnings of $4.36 per share for fiscal 2008. Analysts' estimates typically exclude special items.

The Hartford also reiterated its plans to reduce the risk in its variable annuity businesses.

The company said that it is confident in the long-term economic value of our almost $90 billion investment portfolio.

The Hartford noted that it is well capitalized and has ample liquidity. The company's statutory surplus exceeded $13 billion as of September 30, 2008 and the company hold more than $12 billion in cash, short-term investments and Treasuries, as of November 30, 2008.

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