SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 10, 1997
ITT HARTFORD GROUP, INC.
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(Exact name of registrant as specified in its charter)
Delaware No. 0-19277 No. 13-3317783
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
Hartford Plaza
Hartford, Connecticut 06115-1900
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(Address of principal (Zip Code)
executive offices)
Registrant's telephone number: (860) 547-5000
<PAGE>
Item 5. Other Events.
On February 10, 1997, Hartford Life, Inc., a Delaware
corporation ("HLI"), an indirect wholly owned subsidiary of ITT
Hartford Group, Inc., which holds its life insurance operations, filed
a registration statement on Form S-1 with the Securities and Exchange
Commission for an initial public offering of up to twenty percent of
HLI's common stock.
Item 7. Financial Statements and Exhibits.
(c) The following is filed as an exhibit to this Current
Report:
Exhibit
Number Description
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99.1 Press release dated February 10, 1997.
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
ITT HARTFORD GROUP, INC.
Date: February 14, 1997 By /s/ James J. Westervelt
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Name: James J. Westervelt
Title: Senior Vice President and
Group Controller
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description
- ------- ------------
99.1 Press release dated February 10, 1997.
Exhibit 99.1
[THE HARTFORD
STAG LOGO]
News Release
Hartford Plaza, Hartford, CT 06115
Date: February 10, 1997
For Release: Upon Receipt
Contact: Connie Gurney Media Relations
Office: 860/547-6237 Office: 860/547-5200
Home: 860/521-3192
THE HARTFORD ANNOUNCES LIFE COMPANY IPO
HARTFORD, Conn.-- The Hartford (NYSE:HIG), a leading insurance and
financial services company, announced that its wholly-owned
subsidiary, Hartford Life Inc., today filed a registration statement
with the Securities and Exchange Commission for an initial public
offering (IPO) of up to 20 percent of Hartford Life's common stock.
When the offering is completed, The Hartford will own at
least 80 percent of Hartford Life, the holding company for The
Hartford's life operations. Hartford Life is a leading provider of
investment products, such as annuities, mutual funds and pension
products for savings and retirement, individual and group life
insurance for income protection and estate planning purposes, and life
and group disability benefit plans.
"The offering will enhance the group's shareholder value by
recognizing the market value of our life operations and strengthening
The Hartford's financial position," said Ramani Ayer, The Hartford's
chairman and CEO. "This strengthened financial position will provide
The Hartford with improved flexibility to fund future growth."
Hartford Life will continue to be one of The Hartford's five
key businesses.
<PAGE>
Goldman, Sachs & Co. will lead the underwriting group, which
will also include Dean Witter Reynolds, Inc., Merrill Lynch & Co.,
Morgan Stanley & Co., Inc., and Smith Barney Inc. The transaction is
expected to close during the second quarter, subject to market
conditions.
Hartford Life, with assets of $80 billion as of year-end
1996, is the nation's eighth largest life insurance group. It is a
leading provider of individual annuities, and among the largest
writers of group disability products.
The Hartford (NYSE: HIG) is one of the nation's oldest and
largest international insurance and financial services operations,
with 1996 revenues of $12.5 billion. As of December 31, 1996, The
Hartford had assets of $108.8 billion and shareholder equity of $4.5
billion. It is a leading provider of commercial property and casualty
insurance, automobile and homeowners coverages, and a variety of life
insurance, annuities, employee benefits and asset management plans.
Copies of the preliminary prospectus, when available, may be
obtained from the Prospectus Department of Goldman Sachs or any
members of the underwriting group.
A registration statement relating to these securities has
been filed with the Securities and Exchange Commission but has not yet
become effective. These securities may not be sold nor any offers to
buy be accepted prior to the time the registration statement becomes
effective. This press release shall not constitute an offer to sell or
a solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the
securities laws of any such state.
The Hartford's Internet address is http://www.thehartford.com.
