The Hartford reports high-flying year

The Hartford Financial Services Group Inc. today predicted a high-flying year in 2008, forecasting core per-diluted-share earnings in the $9.80 to $10.20 range. “The Hartford is entering 2008 from a position of great strength,” said Ramani Ayer, chairman and chief executive of the firm, in a statement. “Our fundamental results have been strong, and we also benefited from a favorable storm season, and not withstanding recent volatility, favorable equity markets.” For the full year of 2008, The Hartford predicted $12 billion to $13 billion in deposits for variable annuities, and forecast $750 million to $1.25 billion in deposits for its fixed annuities. Meanwhile, the firm’s VAs will see between $5.2 billion to $4.2 billion net loss, and $500 million to 0 net loss in fixed annuities – both numbers include death benefits and annuity payouts. Retail mutual funds may see a range between $13.5 billion to $15.5 billion in deposits, and $4.0 billion to $6.0 billion in net flows. Retirement plans, predicted to rake in $6.5 billion to $7.5 billion in deposits, will see $1.5 billion to $2.5 billion in net flows, including payouts from death benefits and annuities.