7
Recognizing that technology can only supplement—not supplant—personal relation-
ships, we created an organization of business technology solutions managers in our ﬁeld
ofﬁces. These specialists provide hands-on support to property-casualty agents who use The
Hartford’s online tools.  
This successful high-tech, high-touch mix is one reason why we estimate our small-
business insurance growth rate is ﬁve to six times the industry average. Another reason is
that we strategically target these businesses’ unmet needs. Our new CyberFlexTM business
insurance coverage, for example, is geared to traditional brick-and-mortar businesses that
have some exposure for cyber-risk in their normal course of doing business—such as using
e-mail or operating a Web site.
Our focus on growth never distracts us from the bottom line. When markets or busi-
nesses prove unproﬁtable, we’re nimble enough to take quick action. We exited the
European property-casualty business in 2001, focusing instead on ﬁnancial services in Asia.
We also repositioned our reinsurance business to concentrate on the U.S. market, where
we’re already strong. 
In all our operations, we’ve built a well-deserved reputation as a premier partner
because we offer an exceptional value proposition that will never change: innovative prod-
ucts, world-class money management, value-added distribution, and outstanding service
and technology. 
I’m deeply grateful to our employees, our business partners, our board of directors
and, of course, our customers for their support during some of the most trying times we’ve
ever experienced. I especially want to thank you, our shareholders, for allowing us to contin-
ue earning your support.
My conﬁdence in our company and our industry has never wavered, even in the
darkest moments following Sept. 11. True, we’re still grappling with serious issues. The
question of federal backstop legislation for terrorism is still unresolved, and the possibility
of future terrorist attacks remains a serious concern. The world and its risks are much
changed since I wrote my letter to you a year ago. But we’ll continue to manage risks pru-
dently while always thinking ahead for our shareholders, customers and partners. That’s
what we’re in business to do. We’ll continue to run our business the right way, and I believe
we’ll continue to earn your trust.
Sincerely,
Ramani Ayer 
Chairman, President and Chief Executive Ofﬁcer
Tom Marra, 
President and Chief Operating
Ofﬁcer, Life Operations