The Hartford Appoints Stephan Schinnenburg As Head Of Its New German Retirement Savings Business

The Hartford Financial Services Group, Inc. (NYSE: HIG), which plans to begin selling variable annuities in Germany early next year, today announced the appointment of Stephan Schinnenburg as hauptbevollmaechtigter or general manager of its German branch.

Schinnenburg is reporting to Marc Lieberman, president and chief executive officer of Hartford Life Limited, The Hartford’s European insurer. With Schinnenburg responsible for general management of the branch, The Hartford is building the infrastructure of its new Germany business, creating products, administration, service, sales and marketing, and support systems.

"The appointment of Stephan to this key role will help ensure we are prepared from the first day we launch to offer world-class products and service to German customers,” Lieberman said. "Stephan brings a wealth of experience and expertise with financial products, and his insights into the German market will be invaluable as we build our new business.”

The expansion into Germany is a key element of The Hartford’s international strategy as it extends its leadership position in the global retirement market. Most of the world’s pension assets are outside of the United States and The Hartford is focusing on the largest markets with aging populations, declining birth rates and shrinking worker-to-retiree ratios.

Germany, with the world’s third largest economy, is expected to be a robust market for variable annuities. German households have $5.8 trillion in assets, $2.77 trillion of which is in cash, according to Statistisches Bundesamt Deutschland.

The Hartford is a leading provider of variable annuities in the United States, Japan and the United Kingdom. The firm also has international operations in Brazil and Canada, and Hartford Life Limited has its headquarters in Ireland. Frankfurt will be home to the firm’s German sales and marketing office.

Before being named as The Hartford’s hauptbevollmaechtigter for Germany, Schinnenburg previously was head of sales and marketing for IDEAL Lebensversicherung, a Berlin firm focusing on insurance products for people older than 50. Originally, he joined IDEAL as a board member with responsibility for administration and human resources.

Before his tenure at IDEAL, Schinnenburg was managing director at CURA, a specialized asset management company, and was managing director of FidesSecur Versicherungsmakler, a subsidiary of Bayerische Landesbank, one of Germany’s regional corporate banks. Prior to that, he helped build Lloyd’s of London business in Germany as manager of the technical department.

"With Stephan now on board, we’re excited about our abilities to capitalize on the opportunities available in the German market,” Lieberman said. "Millions of Germans need to save and invest for their own retirement security. The Hartford will work through and support financial advisors to offer retirement-oriented investors the high-quality products they need to create a brighter future.”

About The Hartford

The Hartford, a Fortune 100 company, is one of largest diversified financial services companies in the United States, 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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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.