All this translates into increased shareholder value. Since 1995, our market cap has
increased from $5.7 billion to $15.4 billion—an 18 percent compound annual growth rate.
Our share price has increased nearly 160 percent since The Hartford became a public com-
pany. During the same period, the S&P 500 increased 89 percent, and the Dow Jones
Industrial Average 97 percent.
It’s no surprise that our management team is highly regarded within the ﬁnancial
services industry and on Wall Street. We’ve built a strong leadership team, complemented
by more than 27,000 dedicated employees who are nurtured and energized by a culture of
success. Consequently, we had a smooth leadership transition over the past year. Tom Marra
succeeded Lon Smith as president of our life operations and joined our board of directors.
Lon retired after a 33-year career with The Hartford, and we owe him a tremendous amount
of gratitude for building a strong and successful operation. 
During 2001 we also welcomed two new members to our board of directors. Edward J.
Kelly III, president and CEO of Mercantile Bankshares Corp., joined us in May, and we welcomed
Charles B. Strauss, president and CEO of Unilever United States, Inc., in November.
We’re well-positioned for growth in 2002. On Jan. 1 we renewed our relationship with
AARP by signing a new eight-year contract to m arket auto and homeowner’s insurance to
its 35 million members. Our small-business property-casualty operation continues to
grow—premiums surpassed $1.2 billion in annual sales in 2001.  
We’re also in a leading position to take advantage of demographic shifts and to provide
estate planning and investment and insurance products to baby boomers. We are very excited,
too, about our new SMART 529™ college savings program, which offers ﬂexible features and
numerous tax advantages. And the growing small-business market segment is a key target for
our 401(k) and group-beneﬁts businesses. In fact, with $2 billion in fully insured premiums and
$106 million in net income, the Group Beneﬁts Division (GBD) had its best year ever.
As our markets continue to grow and evolve, we stay intensely focused on the key
strategies in all our businesses. 
Soon after the Sept. 11 attack,
The Hartford Chairman, President
and CEO Ramani Ayer, left fore-
ground, joined other industry
CEOs in meeting with President
Bush at the White House. During
the meeting, the executives
assured the president of industry
support as the nation recovers.