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NEWS RELEASE


The Hartford Announces Fourth Quarter 2018 Financial Results And $1.0 Billion Share Repurchase Authorization; Also Provides 2019 Key Business Metrics Outlook

Fourth quarter 2018 income from continuing operations, after tax, totaled $196 million ($0.52 per diluted share1) compared with a loss from continuing operations, after tax, of $558 million ($1.56 per diluted share) in fourth quarter 2017, which included an $877 million charge related to U.S. corporate tax reform

Fourth quarter 2018 core earnings* of $284 million ($0.78 per diluted share*) decreased slightly from $293 million ($0.81 per diluted share) in fourth quarter 2017 as higher catastrophe losses in property and casualty (P&C) offset increased core earnings in Group Benefits and Hartford Funds and the benefit of a lower U.S. corporate tax rate in 2018

Full year 2018 income from continuing operations, after tax, totaled $1,485 million ($4.06 per diluted share1) compared with a loss from continuing operations, after tax, of $262 million ($0.72 per diluted share) in 2017. Full year 2018 core earnings grew 55% to $1,575 million ($4.33 per diluted share) from $1,014 million ($2.74 per diluted share) in 2017

Full year 2018 P&C combined ratio of 97.8 improved 2.2 points from 2017 due to a lower current accident year loss ratio before catastrophes and higher favorable prior accident year development (PYD); full year 2018 P&C underlying combined ratio* improved 1.0 point to 91.5

The Hartford also announced a share repurchase authorization of $1.0 billion, effective through Dec. 31, 2020

In addition, the company provided its outlook for 2019 key business metric ranges for Commercial Lines and Personal Lines combined ratios and Group Benefits margins


[1] Calculated based on $190 million and $1,479 million of income from continuing operations available to common shareholders, after tax, for the three and twelve month periods ended Dec. 31, 2018, respectively

* Denotes financial measure not calculated in accordance with generally accepted accounting principles (non-GAAP); definitions of non-GAAP measures and reconciliations to their closest GAAP measures can be found in this news release under the heading Discussion of Non-GAAP Financial Measures

1

The following information was filed by Hartford Financial Services Group Incde (HIG) on Monday, February 4, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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