<PAGE>
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):
NOVEMBER 16, 1998
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-19277 13-3317783
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(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
HARTFORD PLAZA
HARTFORD, CONNECTICUT 06115-1900
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(Address of principal executive offices) (Zip Code)
REGISTRANT'S TELEPHONE NUMBER: (860) 547-5000
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ITEM 5. OTHER EVENTS.
On November 16, 1998, The Hartford Financial Services Group, Inc. (The
Hartford) issued a press release announcing the completion of the sale of its
United Kingdom-based London & Edinburgh Insurance Co. subsidiary to Norwich
Union for L315 million (approximately US $525 million). Additional
information is set forth in The Hartford's press release which is filed as an
exhibit hereto.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) The following is filed as an exhibit to this Current Report:
EXHIBIT
NUMBER DESCRIPTION
99.1 Press release dated November 16, 1998.
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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.
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
Date: November 16, 1998 By: /s/ Michael O'Halloran
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Title: Senior Vice President and
Director of Corporate Law
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EXHIBIT INDEX
EXHIBIT
NUMBER DESCRIPTION
99.1 Press release dated November 16, 1998.
<PAGE>
EXHIBIT 99.1
THE
HARTFORD
NEWS RELEASE
Hartford Plaza, Hartford, CT 06115
Date: November 16, 1998
For Release: Upon Receipt
Contact: Sue Honeyman Steve Minihan
Media Relations Investor Relations
Office: 860/547-4976 Office: 860/547-2403
THE HARTFORD CLOSES SALE OF UK SUBSIDIARY TO NORWICH UNION
HARTFORD, CONN. -- The Hartford Financial Services Group Inc. (NYSE: HIG) has
completed a previously announced agreement to sell its United Kingdom-based
London & Edinburgh Insurance Co. subsidiary to Norwich Union for L315 million
(approximately US $525 million).
London & Endinburgh is the UK's sixth-largest general insurance company
ranked by net written premium, specializing in household, motor, creditor and
commercial insurance, as well as a small credit life insurance operation.
Year-end 1997 revenue was US $1.2 billion.
Norwich Union, a leading provider of general and life insurance sold
through intermediaries in the UK, has purchased the ongoing operations of
London & Edinburgh. The Hartford has retained ownership of Excess Insurance
Co. Ltd., London & Edinburgh's property casualty insurance and reinsurance
subsidiary, which is in run-off.
The Hartford's international presence continues to include insurance,
financial services and reinsurance operations in the UK, Canada, Europe,
Latin America and Asia.
The Hartford is one of the nation's oldest and largest international
insurance and financial services operations, with 1997 revenues of $13.3
billion. As of September 30, 1998, The Hartford has assets of $141.1 billion
and shareholders equity of $6.4 billion. The company 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.
THE HARTFORD'S INTERNET ADDRESS IS WWW.THEHARTFORD.COM
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