Litigation

Hartford Financial Services Group ("The Hartford")  has announced plans to sell up to $750 million in stock and formally announced it will participate in the Treasury Department's Troubled Asset Relief Program ("TARP").The participation is not unexpected and  various news reports characterize The Hartford as "being among the most enthusiastic after the government last month decided to allow six major insurers to tap into TARP for additional capital".

Hartford was made eligible for $3.4 billion under TARP.

Chairman and Chief Executive Ramani Ayer said the decision to participate in TARP and sell shares would boost The Hartford's financial strength and help it implement its long-term capital plan.

Among the planned changes for The Hartford his with its U.S. variable-annuity business, including raising prices and launching a new product with a lower risk profile in the third quarter. Variiable annuity minimum guarantees hammered a number of life insurers when the stock market.dropped more than actuaries in pricing the feature.

The company's market value stands at approxjmately $4.6 billion.