Earnings Call Excerpt
The Hartford Financial Services Group (HIG)
2008 Guidance Update Call
December 10, 2007 10:00 am ET
Executives
Ramani Ayer – Chairman & CEO
Tom Marra – President & COO
Neal Wolin – President & COO, P&C Operation
Liz Zlatkus – Co-COO, Life Operations
John Walters – Co-Coo, Life Operation
David Johnson – CFO
Alan Kreczko – Executive Vice President & General Counsel
J.R. Riley
Analysts
J. Paul Newsome – A.G. Edwards
Tom Gallagher – Credit Suisse
Thomas Cholnoky – Goldman, Sachs & Co.
Jeffrey Schuman – Keefe, Bruyette & Woods, Inc.
Bob Glasspiegel – Langen McAlenney
Eric Berg – Lehman Brothers
Ed Spehar – Merrill Lynch
Nigel Dally – Morgan Stanley
Dan Johnson – Citadel Investment
Presentation
Operator
Good day ladies and gentlemen. At this time I would like to welcome everyone to The Hartford investor conference call. (Operator Instructions) Mr. Riley, you may begin your conference.
J.R. Riley
Thank you very much and good morning. On behalf of the management team at The Hartford, I’d like to welcome you and thank you for joining our December investor call. Earlier this morning we issued a press release announcing our 2008 earnings guidance. A copy of that press release, along with a version of today’s slide presentation can be found at the Investor Relations’ section atThe Hartford website atwww.thehartford.com.
Before we get into today’s agenda, I’d like to cover a few items. First I need to remind you that we will make certain statements during this meeting that should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These include statements about The Hartford’s future results of operations. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ, including those discussed in The Hartford’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2007, our 2006 Annual Report on Form 10-K and other filings we make with the Securities and Exchange Commission. We assume no obligation to update this presentation, which speaks as of today’s date.
The discussion in this presentation of The Hartford’s financial performance includes financial measures that are not derived from generally accepted accounting principles,
or GAAP. Information regarding these non-GAAP and other financial measures is provided in the Investor Financial Supplement for the third quarter of 2007 and in the Investor Relations section of The Hartford’s website at www.thehartford.com.Now moving to slide three, here’s a brief look at what we have in store for this morning. Ramani Ayer, our Chairman, CEO will kick off the meeting with some opening remarks. Following Ramani is Tom Marra our President and COO. Tom will provide a review of The Hartford’s 2007 performance along with a summary of key 2008 priorities for both our Life and P&C Operations. Then we’ll turn the microphone over to Neal Wolin, President and COO of our Property Casualty Operations and Liz Zlatkus and John Walters Co-Chief Operating Officers of our Life Company. Neal, Liz and John will provide you with more detail on our operating plans and strategies. Wrapping up the formal presentation is David Johnson, The Hartford’s Chief Financial Officer. David will cover earnings guidance as well as an update on FAS 157, our fourth quarter investment portfolio performance as well as capital management. I would like to also mention, participating on today’s call is Alan Kreczko, General Counsel of The Hartford.
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