Business Editors/Insurance Writers

HARTFORD, Conn.--(BUSINESS WIRE)--November 3, 2008--The Hartford Financial Services Group, Inc. (NYSE: HIG) today responded to Moody’s statement regarding the company’s financial strength ratings.

“The Hartford is pleased that Moody’s affirmed the Aa3 insurance financial strength (IFS) ratings of the company’s property and casualty and life insurance operating companies,” said The Hartford’s chairman and chief executive officer Ramani Ayer. “The Hartford remains well capitalized. In fact, earlier today we provided additional information that demonstrates we are more than sufficiently capitalized to meet our commitments to our customers.”

Earlier today in a Form 8-K filing with the Securities and Exchange Commission, the company said that its capital margin, the capital in excess of modeled rating agency requirements to maintain AA level ratings, would be approximately $2 billion at year end, assuming a year-end S&P 500 level of 900. This compares to an estimate of $3.5 billion, which was disclosed by the company on October 6, 2008, following the announcement of the Allianz transaction. This prior estimate assumed a year-end S&P 500 market level at a September 30, 2008 level, which was 1165.

The company also outlined additional details on the company’s estimated year-end risk-based capital (RBC) ratio for Hartford Life and Accident Insurance Company (HLA) at various S&P 500 levels. The life insurance company’s RBC ratio, including a number of provisions, is estimated to be above 400 percent at year-end S&P 500 levels of 900. An RBC ratio of 325 percent or higher has historically been associated by various rating agencies with AA level ratings.

In its news release today, Moody’s affirmed the Aa3 insurance financial strength (IFS) ratings for the company’s lead property and casualty and life insurance operating companies. They also affirmed a stable outlook on the property and casualty business and a negative outlook on the life insurance business. In addition, Moody’s downgraded the senior unsecured debt rating of The Hartford to A3 from A2 and its short-term debt rating to Prime-2 from Prime-1, with a stable outlook. The downgrade concludes a review for possible downgrade initiated on October 8, 2008.

About The Hartford

The Hartford, a Fortune 100 company, is one of the nation's largest financial services companies, with 2007 revenues of $25.9 billion. The Hartford is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, the United Kingdom, Canada, Brazil and Ireland. The Hartford's Internet address is www.thehartford.com.

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HIG-F

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. 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. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2007 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.