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Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 211.90 469.40 Td (\(Exact name of r) Tj ET Q q 0 0 0 rg BT 271.80 469.40 Td (egistrant as specified in its charter\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 140.30 450.30 Td (Delaware) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 288.50 449.36 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 394.75 450.30 Td (13-3317783) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.00 436.15 Td (\(State or other jurisdiction of incorporation or organization\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 288.50 435.36 Td () Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 352.10 436.15 Td (\(I.R.S. Employer Identification No.\)) Tj ET Q BT /F2 10.00 Tf ET BT /F3 9.00 Tf ET q 0 0 0 rg BT 210.10 420.60 Td (One Hartford Plaza, Hartford, Connecticut 06155) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 214.90 409.80 Td (\(Addr) Tj ET Q q 0 0 0 rg BT 235.56 409.80 Td (ess of principal executive offices\) \(Zip Code\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 277.85 399.00 Td (\(860\)547-5000) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 210.50 388.20 Td (\(Registrant) Tj ET Q q 0 0 0 rg BT 252.83 388.20 Td (s telephone number) Tj ET Q q 0 0 0 rg BT 322.32 388.20 Td (, including ar) Tj ET Q q 0 0 0 rg BT 370.73 388.20 Td (ea code\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 153.40 377.40 Td (SECURITIES REGISTERED PURSUANT) Tj ET Q q 0 0 0 rg BT 320.28 377.40 Td ( ) Tj ET Q q 0 0 0 rg BT 322.37 377.40 Td (T) Tj ET Q q 0 0 0 rg BT 328.21 377.40 Td (O SECTION 12 \(b\)OF) Tj ET Q q 0 0 0 rg BT 416.89 377.40 Td ( ) Tj ET Q q 0 0 0 rg BT 418.97 377.40 Td (THE ) Tj ET Q q 0 0 0 rg BT 439.73 377.40 Td (ACT) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 140.60 366.60 Td (\(ALL) Tj ET Q q 0 0 0 rg BT 161.61 366.60 Td ( OF) Tj ET Q q 0 0 0 rg BT 176.02 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 178.11 366.60 Td (WHICH ) Tj ET Q q 0 0 0 rg BT 212.86 366.60 Td (ARE LISTED ON ) Tj ET Q q 0 0 0 rg BT 284.97 366.60 Td (THE NEW) Tj ET Q q 0 0 0 rg BT 327.57 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 329.48 366.60 Td (YORK ST) Tj ET Q q 0 0 0 rg BT 369.58 366.60 Td (OCK EXCHANGE INC.\):) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 230.25 355.80 Td (Common Stock, par value $0.01 per share) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 244.50 345.00 Td (W) Tj ET Q q 0 0 0 rg BT 252.27 345.00 Td (arrants \(expiring June26, 2019\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 244.85 334.20 Td (6.10% Notes due October1, 2041) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 173.00 323.40 Td (7.875% Fixed-to-Floating Rate Junior Subordinated Debentures due 2042) Tj ET Q BT /F3 9.00 Tf ET 0 0 0 RG /GS0 gs 0.86 w 0 i [] 0 d 1 J 1 j 3 M 152.4 311.191552734375 m 459.56015625 311.191552734375 l s q 0 0 0 rg BT 152.40 312.60 Td (SECURITIES REGISTERED PURSUANT) Tj ET Q q 0 0 0 rg BT 319.28 312.60 Td ( ) Tj ET Q q 0 0 0 rg BT 321.37 312.60 Td (T) Tj ET Q q 0 0 0 rg BT 327.21 312.60 Td (O SECTION 12 \(g\)OF) Tj ET Q q 0 0 0 rg BT 415.38 312.60 Td ( ) Tj ET Q q 0 0 0 rg BT 417.47 312.60 Td (THE ) Tj ET Q q 0 0 0 rg BT 438.23 312.60 Td (ACT) Tj ET Q q 0 0 0 rg BT 456.56 312.60 Td (:) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 296.25 301.80 Td (None) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 277.29999999999995 m 43 277.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 43 277.29999999999995 m 531 277.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531 277.29999999999995 m 555 277.29999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 555 277.29999999999995 m 580 277.29999999999995 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 281.98 Td (Indicate by check mark:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 535.25 281.98 Td (Yes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 560.85 281.98 Td (No) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 268.03 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 45.50 268.56 Td (if the registrant is a well-known seasoned issuer, as defined in Rule405 of the Securities Act.) 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Tj ET Q /GS0 gs q 8.92 0 0 9.76 538.00 211.04 cm /I7 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.00 213.87 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 185.03 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 45.50 185.56 Td (if disclosure of delinquent filers pursuant to Item405 of RegulationS-K is not contained herein, and will not be contained, to the best) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 45.50 176.56 Td (of registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form10-K or) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 45.50 167.61 Td (any amendment to this Form10-K.) Tj ET Q /GS0 gs q 8.92 0 0 9.76 538.00 182.04 cm /I8 Do Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.00 184.87 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 156.03 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 45.50 156.56 Td (whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 45.50 147.61 Td (definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule12b-2 of the Exchange Act.) 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(fects of emer) Tj ET Q q 0 0 0 rg BT 170.87 232.05 Td (ging claim and coverage issues;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 214.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 214.05 Td (the Company) Tj ET Q q 0 0 0 rg BT 113.23 214.05 Td (s ability to ef) Tj ET Q q 0 0 0 rg BT 165.54 214.05 Td (fectively price its property and casualty policies, including its ability to obtain regulatory consents to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 202.05 Td (pricing actions or to non-renewal or withdrawal of certain product lines;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 184.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 184.05 Td (the impact on our statutory capital of various factors, including many that are outside the Company) Tj ET Q q 0 0 0 rg BT 456.19 184.05 Td (s control, which can in turn ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 172.05 Td (af) Tj ET Q q 0 0 0 rg BT 64.44 172.05 Td (fect our credit and financial strength ratings, 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earnings and potential material changes to our results resulting from our adjustment of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 94.05 Td (our risk management program to emphasize protection of economic value;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 76.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 76.05 Td (the potential for dif) Tj ET Q q 0 0 0 rg BT 134.14 76.05 Td (fering interpretations of the methodologies, estimations and assumptions that underlie the valuation of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 64.05 Td (Company) Tj ET Q q 0 0 0 rg BT 98.52 64.05 Td (s financial instruments that could result in changes to investment valuations;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 46.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 46.05 Td (the subjective determinations that underlie the Company) Tj ET Q q 0 0 0 rg BT 285.68 46.05 Td (s evaluation of other) Tj ET Q q 0 0 0 rg BT 367.40 46.05 Td (-than-temporary impairments on available-for) Tj ET Q q 0 0 0 rg BT 550.74 46.05 Td (-sale ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 34.05 Td (securities;) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.50 20.10 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 713.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 713.10 Td (losses due to nonperformance or defaults by others;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 695.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 695.10 Td (the potential for further acceleration of deferred policy acquisition cost amortization;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 677.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 677.10 Td (the potential for further impairments of our goodwill or the potential for changes in valuation allowances against deferred tax ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 665.10 Td (assets;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 647.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 647.10 Td (the possible occurrence of terrorist attacks and the Company) Tj ET Q q 0 0 0 rg BT 301.77 647.10 Td (s ability to contain its exposure, including the ef) Tj ET Q q 0 0 0 rg BT 494.05 647.10 Td (fect of the absence or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 635.10 Td (insuf) Tj ET Q q 0 0 0 rg BT 76.67 635.10 Td (ficiency of applicable terrorism legislation on coverage;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 617.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 617.10 Td (the dif) Tj ET Q q 0 0 0 rg BT 82.49 617.10 Td (ficulty in predicting the Company) Tj ET Q q 0 0 0 rg BT 220.80 617.10 Td (s potential exposure for asbestos and environmental claims;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 599.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 599.10 Td (the response of reinsurance companies under reinsurance contracts and the availability) Tj ET Q q 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Tj ET Q q 0 0 0 rg BT 450.26 533.10 Td (all Street Reform and Consumer ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 521.10 Td (Protection ) Tj ET Q q 0 0 0 rg BT 99.90 521.10 Td (Act of 2010, which, among other ef) Tj ET Q q 0 0 0 rg BT 242.46 521.10 Td (fects, vests a Financial Stability Oversight Council with the power to designate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 509.10 Td (systemically important institutions, requires central clearing of and imposes mar) Tj ET Q q 0 0 0 rg BT 386.58 509.10 Td (gin requirements on certain derivatives ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 497.10 Td (transactions, and created a new Federal Insurance Of) Tj ET Q q 0 0 0 rg BT 272.68 497.10 Td (fice within the U.S. Department of the ) Tj ET Q q 0 0 0 rg BT 432.72 497.10 Td (T) Tj ET Q q 0 0 0 rg BT 438.48 497.10 Td (reasury;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 479.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 479.10 Td (unfavorable judicial or legislative developments;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 461.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 461.10 Td (the potential ef) Tj ET Q q 0 0 0 rg BT 116.64 461.10 Td (fect of other domestic and foreign regulatory developments, including those that could adversely impact the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 449.10 Td (demand for the Company) Tj ET Q q 0 0 0 rg BT 161.55 449.10 Td (s products, operating costs and required capital levels;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 431.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 431.10 Td (regulatory limitations on the ability of the Company and certain of its subsidiaries to declare and pay dividends;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 413.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 413.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 113.23 413.10 Td (s ability to maintain the availability of its systems and safeguard the security of its data in the event of a disaster) Tj ET Q q 0 0 0 rg BT 560.77 413.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 401.10 Td (cyber or other information security incident or other unanticipated event;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 383.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 383.10 Td (the risk that our framework for managing operational risks may not be ef) Tj ET Q q 0 0 0 rg BT 348.25 383.10 Td (fective in mitigating material risk and loss to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 371.10 Td (Company;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 353.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 353.10 Td (the potential for dif) Tj ET Q q 0 0 0 rg BT 134.14 353.10 Td (ficulties arising from outsourcing and similar third-party relationships;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 335.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 335.10 Td (the impact of changes in federal or state tax laws;) Tj ET Q BT /F2 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statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.10 Td (Any forward-looking statement made by the Company in this document speaks only as of the date of the filing of this Form 10-K. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.10 Td (Factors or events that could cause the Company) Tj ET Q q 0 0 0 rg BT 225.62 221.10 Td (s actual results to dif) Tj ET Q q 0 0 0 rg BT 308.19 221.10 Td (fer may emer) Tj ET Q q 0 0 0 rg BT 361.31 221.10 Td (ge from time to time, and it is not possible for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.10 Td (Company to predict all of them. ) Tj ET Q q 0 0 0 rg BT 161.57 209.10 Td (The Company undertakes no obligation to publicly update any forward-looking statement, whether as a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.10 Td (result of new information, future developments or otherwise.) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.50 20.10 Td (5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (P) Tj ET Q q 0 0 0 rg BT 36.87 713.25 Td (AR) Tj ET Q q 0 0 0 rg BT 50.96 713.25 Td (T) Tj ET Q q 0 0 0 rg BT 57.45 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 59.95 713.25 Td (I) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 700.05 Td (Item 1. BUSINESS) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 682.05 Td (\(Dollar ) Tj ET Q q 0 0 0 rg BT 64.00 682.05 Td (amounts ) Tj ET Q q 0 0 0 rg BT 100.39 682.05 Td (in ) Tj ET Q q 0 0 0 rg BT 110.67 682.05 Td (millions, ) Tj ET Q q 0 0 0 rg BT 147.90 682.05 Td (except ) Tj ET Q q 0 0 0 rg BT 175.93 682.05 Td (for ) Tj ET Q q 0 0 0 rg BT 190.10 682.05 Td (per ) Tj ET Q q 0 0 0 rg BT 205.93 682.05 Td (shar) Tj ET Q q 0 0 0 rg BT 223.34 682.05 Td (e ) Tj ET Q q 0 0 0 rg BT 230.28 682.05 Td (data, ) Tj ET Q q 0 0 0 rg BT 253.06 682.05 Td (unless ) Tj ET Q q 0 0 0 rg BT 280.56 682.05 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 321.94 682.05 Td (stated\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 664.05 Td (General) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 646.05 Td (The Hartford Financial Services Group, Inc. \(together with its subsidiaries, The Hartford, the Company, we, or our\) is an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 634.05 Td (insurance and financial services company) Tj ET Q q 0 0 0 rg BT 197.45 634.05 Td (. ) Tj ET Q q 0 0 0 rg BT 202.27 634.05 Td (The Hartford, headquartered in Connecticut, is among the lar) Tj ET Q q 0 0 0 rg BT 446.44 634.05 Td (gest providers of property and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 622.05 Td (casualty insurance and investment products to both individual and business customers in the United States of ) Tj ET Q q 0 0 0 rg BT 469.20 622.05 Td (America. ) Tj ET Q q 0 0 0 rg BT 510.57 622.05 Td (Also, ) Tj ET Q q 0 0 0 rg BT 534.28 622.05 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 610.05 Td (Hartford continues to manage life and annuity products previously sold. Hartford Fire Insurance Company) Tj ET Q q 0 0 0 rg BT 456.85 610.05 Td (, founded in 1810, is the oldest ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 598.05 Td (of ) Tj ET Q q 0 0 0 rg BT 42.15 598.05 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 97.40 598.05 Td (s subsidiaries. ) Tj ET Q q 0 0 0 rg BT 155.46 598.05 Td (At ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.96 598.05 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 246.54 598.05 Td (, total assets and total stockholders) Tj ET Q q 0 0 0 rg BT 387.99 598.05 Td ( equity of ) Tj ET Q q 0 0 0 rg BT 428.64 598.05 Td (The Hartford were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.54 598.05 Td ($277.9 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.66 598.05 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 586.05 Td ($18.9 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.61 586.05 Td (, respectively) Tj ET Q q 0 0 0 rg BT 135.27 586.05 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 568.05 Td (Organization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 550.05 Td (The Hartford strives to maintain and enhance its position as a market leader within the financial services industry) Tj ET Q q 0 0 0 rg BT 483.77 550.05 Td (. ) Tj ET Q q 0 0 0 rg BT 488.58 550.05 Td (The Company sells ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 538.05 Td (diverse and innovative products through multiple distribution channels to consumers and businesses. ) Tj ET Q q 0 0 0 rg BT 436.53 538.05 Td (The Company seeks on an ongoing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 526.05 Td (basis to develop and expand its distribution channels, achieving cost ef) Tj ET Q q 0 0 0 rg BT 314.86 526.05 Td (ficiencies through economies of scale and improved technology) Tj ET Q q 0 0 0 rg BT 569.41 526.05 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 514.05 Td (and capitalizes on its brand name and ) Tj ET Q q 0 0 0 rg BT 183.77 514.05 Td (The Hartford Stag Logo, one of the most recognized symbols in the financial services industry) Tj ET Q q 0 0 0 rg BT 561.08 514.05 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 496.05 Td (In 2012, ) Tj ET Q q 0 0 0 rg BT 67.15 496.05 Td (The Hartford concluded an evaluation of its strategy and business portfolio. ) Tj ET Q q 0 0 0 rg BT 371.89 496.05 Td (The Company is currently focusing on its Property ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 484.05 Td (& Casualty) Tj ET Q q 0 0 0 rg BT 76.12 484.05 Td (, Group Benefits and Mutual Fund businesses. ) Tj ET Q q 0 0 0 rg BT 263.43 484.05 Td (The objective of this realignment is to position the or) Tj ET Q q 0 0 0 rg BT 475.70 484.05 Td (ganization for higher ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 472.05 Td (returns on equity) Tj ET Q q 0 0 0 rg BT 98.61 472.05 Td (, reduced sensitivity to capital markets, a lower cost of capital and increased financial flexibility) Tj ET Q q 0 0 0 rg BT 481.71 472.05 Td (. ) Tj ET Q q 0 0 0 rg BT 488.66 472.05 Td (As a result, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 460.05 Td (Company completed sales of its Retirement Plans, Individual Life and U.K. annuity businesses in 2013. In addition, the Company sold ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 448.05 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 448.05 Td (oodbury Financial Services, Inc. \("W) Tj ET Q q 0 0 0 rg BT 188.38 448.05 Td (oodbury Financial Services", "WFS"\) an indirect wholly-owned broker) Tj ET Q q 0 0 0 rg BT 472.58 448.05 Td (-dealer subsidiary) Tj ET Q q 0 0 0 rg BT 543.29 448.05 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 436.05 Td (placed its annuity businesses into runof) Tj ET Q q 0 0 0 rg BT 188.79 436.05 Td (f in 2012. For further discussion of these transactions, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.52 436.05 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.52 436.05 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.85 436.05 Td (Business Dispositions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.92 436.05 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 424.05 Td (Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.44 424.05 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.44 424.05 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.77 424.05 Td (Discontinued Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.47 424.05 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 406.05 Td (As a holding company that is separate and distinct from its subsidiaries, ) Tj ET Q q 0 0 0 rg BT 320.99 406.05 Td (The Hartford Financial Services Group, Inc. has no significant ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 394.05 Td (business operations of its own. ) Tj ET Q q 0 0 0 rg BT 156.87 394.05 Td (Therefore, it relies on the dividends from its insurance companies and other subsidiaries as the principal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 382.05 Td (source of cash flow to meet its obligations. ) Tj ET Q q 0 0 0 rg BT 205.08 382.05 Td (Additional information regarding the cash flow and liquidity needs of ) Tj ET Q q 0 0 0 rg BT 485.94 382.05 Td (The Hartford Financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 370.05 Td (Services Group, Inc. may be found in the Capital Resources and Liquidity section of PartII, Item7, Management) Tj ET Q q 0 0 0 rg BT 488.05 370.05 Td (s Discussion and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 358.05 Td (Analysis of Financial Condition and Results of Operations \(MD&A\).) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 340.05 Td (Reporting Segments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 322.05 Td (The Hartford currently conducts business principally in six reporting segments including Property & Casualty Commercial, Consumer ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 310.05 Td (Markets, Property & Casualty Other Operations, Group Benefits, Mutual Funds and ) Tj ET Q q 0 0 0 rg BT 369.60 310.05 Td (T) Tj ET Q q 0 0 0 rg BT 375.01 310.05 Td (alcott Resolution as well as a Corporate category) Tj ET Q q 0 0 0 rg BT 570.13 310.05 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 298.05 Td (The Hartford includes in its Corporate category the Company) Tj ET Q q 0 0 0 rg BT 280.32 298.05 Td (s debt financing and related interest expense, as well as other capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 286.05 Td (raising activities; and purchase accounting adjustments related to goodwill and other expenses not allocated to the reporting segments.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 268.05 Td (The following discussion describes the principal products and services, marketing and distribution, and competition of ) Tj ET Q q 0 0 0 rg BT 507.60 268.05 Td (The Hartford's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 256.05 Td (reporting segments. For further discussion on the reporting segments, including financial disclosures of revenues by product line, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 244.05 Td (geographical revenue, net income \(loss\), and assets for each reporting segment, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.59 244.05 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.59 244.05 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.92 244.05 Td (Segment Information) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.18 244.05 Td ( of Notes to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 232.05 Td (Consolidated Financial Statements.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 214.05 Td ( ) Tj ET Q endstream endobj 13 0 obj <> endobj 14 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.50 20.10 Td (6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 41.87 713.25 Td (operty & Casualty Commer) Tj ET Q q 0 0 0 rg BT 160.83 713.25 Td (cial) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Principal Products and Services) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.25 Td (Property & Casualty Commercial provides businesses with workers) Tj ET Q q 0 0 0 rg BT 304.88 677.25 Td ( compensation, property) Tj ET Q q 0 0 0 rg BT 401.15 677.25 Td (, automobile, liability) Tj ET Q q 0 0 0 rg BT 486.60 677.25 Td (, umbrella and marine ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (coverages under several dif) Tj ET Q q 0 0 0 rg BT 140.99 665.25 Td (ferent products, primarily throughout the United States, within its standard commercial lines, which consists ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (of ) Tj ET Q q 0 0 0 rg BT 42.15 653.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 97.40 653.25 Td (s small commercial and middle market lines of business. ) Tj ET Q q 0 0 0 rg BT 325.69 653.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 375.59 653.25 Td (, a variety of customized insurance products and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (risk management services including workers) Tj ET Q q 0 0 0 rg BT 212.37 641.25 Td ( compensation, automobile, general liability) Tj ET Q q 0 0 0 rg BT 387.78 641.25 Td (, professional liability) Tj ET Q q 0 0 0 rg BT 474.62 641.25 Td (, livestock and specialty ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (casualty coverages are of) Tj ET Q q 0 0 0 rg BT 132.10 629.25 Td (fered through the segment) Tj ET Q q 0 0 0 rg BT 239.56 629.25 Td (s specialty lines.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (Standard commercial lines seeks to of) Tj ET Q q 0 0 0 rg BT 183.22 611.25 Td (fer products with coverage options and customized pricing based on the policyholder) Tj ET Q q 0 0 0 rg BT 523.77 611.25 Td () Tj ET Q q 0 0 0 rg BT 526.55 611.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (individualized risk characteristics. For small businesses, those businesses whose annual payroll is under $5 and whose revenue and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (property values are less than $15 each, property and liability coverages are bundled as part of a single multi-peril package policy ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (marketed under the Spectrum name. Medium-sized businesses, companies whose payroll, revenue and property values exceed the small ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (business definition, are served within middle market. ) Tj ET Q q 0 0 0 rg BT 245.99 563.25 Td (The middle market line of business provides workers) Tj ET Q q 0 0 0 rg BT 461.03 563.25 Td ( compensation, property) Tj ET Q q 0 0 0 rg BT 557.30 563.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (automobile, liability) Tj ET Q q 0 0 0 rg BT 111.95 551.25 Td (, umbrella, fidelity) Tj ET Q q 0 0 0 rg BT 185.72 551.25 Td (, surety and marine coverages. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (W) Tj ET Q q 0 0 0 rg BT 40.54 533.25 Td (ithin the specialty lines, a significant portion of the specialty casualty business, including workers) Tj ET Q q 0 0 0 rg BT 433.87 533.25 Td ( compensation business, is written ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (through lar) Tj ET Q q 0 0 0 rg BT 75.47 521.25 Td (ge deductible programs where the insured typically provides collateral to support loss payments made within their deductible. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (The specialty casualty business also provides retrospectively-rated programs where the premiums are adjustable based on loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.25 Td (experience. ) Tj ET Q q 0 0 0 rg BT 79.62 497.25 Td (The captive and specialty programs business provides tailored property and casualty programs primarily to customers with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.25 Td (common risk characteristics and those seeking a loss sensitive solution. ) Tj ET Q q 0 0 0 rg BT 319.32 485.25 Td (The financial products business provides a suite of management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (and professional liability insurance products including D&O \(directors and of) Tj ET Q q 0 0 0 rg BT 342.08 473.25 Td (ficers\) and E&O \(errors and omissions\) liability products. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 455.25 Td (Marketing and Distribution) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (Standard commercial lines provide insurance products and services through the Company) Tj ET Q q 0 0 0 rg BT 393.07 437.25 Td (s home of) Tj ET Q q 0 0 0 rg BT 432.33 437.25 Td (fice located in Hartford, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (Connecticut, and multiple domestic regional of) Tj ET Q q 0 0 0 rg BT 219.61 425.25 Td (fice locations and insurance centers. ) Tj ET Q q 0 0 0 rg BT 366.58 425.25 Td (The products are marketed nationwide utilizing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (brokers and independent agents. ) Tj ET Q q 0 0 0 rg BT 162.67 413.25 Td (The current pace of consolidation within the independent agent and broker distribution channel will ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (likely continue such that, in the future a lar) Tj ET Q q 0 0 0 rg BT 203.21 401.25 Td (ger proportion of written premium will likely be concentrated among fewer agents and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (brokers. ) Tj ET Q q 0 0 0 rg BT 65.94 389.25 Td (Additionally the Company of) Tj ET Q q 0 0 0 rg BT 183.24 389.25 Td (fers insurance products to customers of payroll service providers through its relationships with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.25 Td (major national payroll companies.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.25 Td (Specialty lines also provide insurance products and services through its home of) Tj ET Q q 0 0 0 rg BT 352.08 359.25 Td (fice located in Hartford, Connecticut and multiple ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (domestic of) Tj ET Q q 0 0 0 rg BT 78.25 347.25 Td (fice locations. Specialty lines markets its products nationwide utilizing a variety of distribution networks including ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (independent retail agents, brokers and wholesalers.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 317.25 Td (Competition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.25 Td (In the small commercial marketplace, ) Tj ET Q q 0 0 0 rg BT 184.59 299.25 Td (The Hartford competes against a number of lar) Tj ET Q q 0 0 0 rg BT 371.83 299.25 Td (ge national carriers, as well as regional carriers in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.25 Td (certain territories. Competitors include other stock companies, mutual companies and other underwriting or) Tj ET Q q 0 0 0 rg BT 461.20 287.25 Td (ganizations. ) Tj ET Q q 0 0 0 rg BT 511.56 287.25 Td (The small ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (commercial market has become increasingly competitive as carriers seek to dif) Tj ET Q q 0 0 0 rg BT 346.74 275.25 Td (ferentiate themselves through product expansion, price ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.25 Td (reduction, enhanced service and cutting-edge technology) Tj ET Q q 0 0 0 rg BT 258.54 263.25 Td (. Lar) Tj ET Q q 0 0 0 rg BT 277.23 263.25 Td (ger carriers such as ) Tj ET Q q 0 0 0 rg BT 356.46 263.25 Td (The Hartford have improved their pricing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.25 Td (sophistication and ease of doing business with agents through the use of predictive modeling tools and automation which speeds up the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.25 Td (process of evaluating a risk and quoting new business.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.25 Td (W) Tj ET Q q 0 0 0 rg BT 40.54 221.25 Td (ritten premium growth rates in the small commercial market have slowed in recent years due to the economy and underwriting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.25 Td (mar) Tj ET Q q 0 0 0 rg BT 46.87 209.25 Td (gins have been pressured by increased competition. ) Tj ET Q q 0 0 0 rg BT 254.58 209.25 Td (A) Tj ET Q q 0 0 0 rg BT 261.25 209.25 Td ( number of companies have sought to grow their business by increasing their ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.25 Td (underwriting appetite, appointing new agents and expanding business with existing agents. ) Tj ET Q q 0 0 0 rg BT 396.71 197.25 Td (Also, carriers serving middle market-sized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.25 Td (accounts are more aggressively competing for small commercial accounts as small commercial business has generally been less price-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (sensitive.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.25 Td (Middle market business is characterized as high touch and involves case-by-case underwriting and pricing decisions. ) Tj ET Q q 0 0 0 rg BT 510.05 155.25 Td (The pricing of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.25 Td (middle market accounts is prone to significant variation or cyclicality over time, with sensitivity to legislative and macro-economic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.25 Td (forces. ) Tj ET Q q 0 0 0 rg BT 60.38 131.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 110.28 131.25 Td (, various state legislative reforms in recent years designed to control workers compensation indemnity costs have led ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 119.25 Td (to rate reductions in many states. ) Tj ET Q q 0 0 0 rg BT 165.45 119.25 Td (These factors, characterized by highly competitive pricing on new business, have resulted in more new ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 107.25 Td (business opportunities in the marketplace as customers shop their policies for a lower price. In the face of this competitive environment, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 95.25 Td (The Hartford continues to maintain a disciplined underwriting approach. ) Tj ET Q q 0 0 0 rg BT 324.01 95.25 Td (T) Tj ET Q q 0 0 0 rg BT 329.42 95.25 Td (o gain a competitive advantage in this environment, carriers ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 83.25 Td (are improving automation with agents and brokers, increasing pricing sophistication, and enhancing their product of) Tj ET Q q 0 0 0 rg BT 495.64 83.25 Td (ferings. ) Tj ET Q q 0 0 0 rg BT 528.23 83.25 Td (These ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 71.25 Td (enhancements include industry specialization, with ) Tj ET Q q 0 0 0 rg BT 237.93 71.25 Td (The Hartford and other national carriers tailoring products and services to specific ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 59.25 Td (industry verticals such as technology) Tj ET Q q 0 0 0 rg BT 178.59 59.25 Td (, health care and renewable ener) Tj ET Q q 0 0 0 rg BT 307.22 59.25 Td (gy) Tj ET Q q 0 0 0 rg BT 316.57 59.25 Td (.) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.50 20.10 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (In the surety business, favorable underwriting results over the past couple of years have led to increased competition for market share, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (setting the stage for potential written price decreases. Driven by the upheaval in the credit markets, new public construction activity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (remains at a historically low level, resulting in lower demand for contract surety business) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (Specialty lines is comprised of a diverse group of businesses that operate independently within their specific industries. ) Tj ET Q q 0 0 0 rg BT 511.20 671.10 Td (These ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (businesses, while somewhat interrelated, have dif) Tj ET Q q 0 0 0 rg BT 229.32 659.10 Td (ferent business models and operating cycles. Specialty lines competes on an account- ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (by-account basis due to the complex nature of each transaction. Competition in this market includes other stock companies, mutual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (companies, alternative risk sharing groups and other underwriting or) Tj ET Q q 0 0 0 rg BT 305.41 635.10 Td (ganizations. ) Tj ET Q q 0 0 0 rg BT 355.77 635.10 Td (The relatively lar) Tj ET Q q 0 0 0 rg BT 424.44 635.10 Td (ge size and underwriting capacity of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (The Hartford provides opportunities not available to smaller companies. Disciplined underwriting and tar) Tj ET Q q 0 0 0 rg BT 452.59 623.10 Td (geted returns are the objectives ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (of specialty lines since premium writings may fluctuate based on the segment) Tj ET Q q 0 0 0 rg BT 344.47 611.10 Td (s view of perceived market opportunity) Tj ET Q q 0 0 0 rg BT 501.28 611.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (For specialty casualty businesses, written pricing competition continues to be significant, particularly for the lar) Tj ET Q q 0 0 0 rg BT 478.42 593.10 Td (ger individual accounts. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.10 Td (Carriers are aggressively negotiating renewals with customers by initiating the renewal process well in advance of the policy renewal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (date, to improve retention, reducing new business opportunities within the marketplace. ) Tj ET Q q 0 0 0 rg BT 384.56 569.10 Td (W) Tj ET Q q 0 0 0 rg BT 393.60 569.10 Td (ithin the national account business, as written ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (pricing increases, more insureds may opt for loss-sensitive products in lieu of guaranteed cost policies.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (Carriers writing professional liability business are increasingly focused on profitable private, middle market companies. ) Tj ET Q q 0 0 0 rg BT 513.40 539.10 Td (This trend has ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (continued as the downturn in the economy has led to a significant drop in the number of initial public of) Tj ET Q q 0 0 0 rg BT 447.61 527.10 Td (ferings, and volatility for all ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.10 Td (public companies. ) Tj ET Q q 0 0 0 rg BT 106.21 515.10 Td (Also, carriers) Tj ET Q q 0 0 0 rg BT 162.66 515.10 Td ( new business opportunities in the marketplace for directors & of) Tj ET Q q 0 0 0 rg BT 422.41 515.10 Td (ficers and errors & omissions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.10 Td (insurance have been significantly influenced by customer perceptions of financial strength, as investment portfolio losses have had a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.10 Td (negative ef) Tj ET Q q 0 0 0 rg BT 75.46 491.10 Td (fect on the financial strength ratings of some insurers.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (In the commercial marketplace, the weak economy has prompted carriers to of) Tj ET Q q 0 0 0 rg BT 345.63 473.10 Td (fer dif) Tj ET Q q 0 0 0 rg BT 370.16 473.10 Td (ferentiated products and services as a means of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (gaining a competitive advantage. In addition to the initiatives specific to each of ) Tj ET Q q 0 0 0 rg BT 354.55 461.10 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 409.80 461.10 Td (s Property & Casualty Commercial lines ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (of business noted above, the Company is leveraging its diverse product, service and distribution capabilities to deliver dif) Tj ET Q q 0 0 0 rg BT 517.04 449.10 Td (ferentiated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (value in the market, while simultaneously increasing its ability to access its own diverse customer base for new product sales.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 419.10 Td (Consumer) Tj ET Q q 0 0 0 rg BT 75.76 419.10 Td ( Markets) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (Principal Products and Services) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (Consumer Markets provides automobile, homeowners and personal umbrella coverages to individuals across the United States, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (including a special program designed exclusively for members of ) Tj ET Q q 0 0 0 rg BT 295.04 371.10 Td (AARP) Tj ET Q q 0 0 0 rg BT 321.34 371.10 Td ( \(AARP) Tj ET Q q 0 0 0 rg BT 357.91 371.10 Td ( Program\). ) Tj ET Q q 0 0 0 rg BT 407.44 371.10 Td (The Hartford's auto and homeowners ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.10 Td (products provide coverage options and customized pricing tailored to a customer's individual risk. ) Tj ET Q q 0 0 0 rg BT 425.80 359.10 Td (The Hartford has individual customer ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.10 Td (relationships with ) Tj ET Q q 0 0 0 rg BT 104.83 347.10 Td (AARP) Tj ET Q q 0 0 0 rg BT 131.13 347.10 Td ( Program policyholders and, as a group, these customers represent a significant portion of the total Consumer ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.10 Td (Markets' business. Business sold to ) Tj ET Q q 0 0 0 rg BT 174.42 335.10 Td (AARP) Tj ET Q q 0 0 0 rg BT 200.72 335.10 Td ( members, either direct or through independent agents, amounted to earned premiums of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.45 335.10 Td ($2.9 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.10 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.61 323.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.61 323.10 Td ($2.8 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.73 323.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 128.17 323.10 Td ($2.8 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.28 323.10 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.06 323.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.06 323.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.06 323.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.06 323.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.50 323.10 Td (201) Tj ET Q q 0 0 0 rg BT 266.12 323.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.12 323.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 323.79 323.10 Td (. Consumer Markets previously operated a member contact ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (center for health insurance products of) Tj ET Q q 0 0 0 rg BT 185.42 311.10 Td (fered through the ) Tj ET Q q 0 0 0 rg BT 256.23 311.10 Td (AARP) Tj ET Q q 0 0 0 rg BT 282.54 311.10 Td ( Health program \(Catalyst 360\). For further information regarding the sale ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.10 Td (of Catalyst 360 in 2013, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.59 299.10 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.59 299.10 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.92 299.10 Td (Business Dispositions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.99 299.10 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (Marketing and Distribution) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.10 Td (Consumer Markets reaches diverse customers through multiple distribution channels including direct sales to the consumer) Tj ET Q q 0 0 0 rg BT 523.76 257.10 Td (, brokers and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.10 Td (independent agents. In direct sales to the consumer) Tj ET Q q 0 0 0 rg BT 234.92 245.10 Td (, the Company markets its products through a mix of media, including direct mail and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.10 Td (e-commerce marketing, television and advertising, both digitally and in publications. Most of Consumer Markets' direct sales to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.10 Td (consumer are associated with its exclusive licensing arrangement with ) Tj ET Q q 0 0 0 rg BT 314.47 221.10 Td (AARP) Tj ET Q q 0 0 0 rg BT 340.04 221.10 Td (, with the current agreement in place through January1, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.10 Td (2023, to market automobile, homeowners and home-based business insurance products to ) Tj ET Q q 0 0 0 rg BT 392.26 209.10 Td (AARP's approximately 38million members. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.10 Td (This agreement provides Consumer Markets with an important competitive advantage given the number of baby boomers over age 50, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.10 Td (many of whom become ) Tj ET Q q 0 0 0 rg BT 127.59 185.10 Td (AARP) Tj ET Q q 0 0 0 rg BT 153.89 185.10 Td ( members. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.10 Td (During 2013, the Company had af) Tj ET Q q 0 0 0 rg BT 167.96 167.10 Td (finity agreements with the ) Tj ET Q q 0 0 0 rg BT 274.60 167.10 Td (American Kennel Club, Sierra Club, the National ) Tj ET Q q 0 0 0 rg BT 474.64 167.10 Td (W) Tj ET Q q 0 0 0 rg BT 483.68 167.10 Td (ildlife Federation and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.10 Td (Direct Selling ) Tj ET Q q 0 0 0 rg BT 89.27 155.10 Td (Association. In addition to selling product through its relationship with ) Tj ET Q q 0 0 0 rg BT 375.07 155.10 Td (AARP) Tj ET Q q 0 0 0 rg BT 401.38 155.10 Td ( and other af) Tj ET Q q 0 0 0 rg BT 451.45 155.10 Td (finities, the Company markets ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.10 Td (direct to the consumer within select underwriting markets, acquired through partnerships or list acquisitions, and to consumers in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.10 Td (geographies where we think we have a competitive advantage.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.10 Td (The agency channel provides products and services to customers through a network of independent agents in the standard personal lines ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.10 Td (market. ) Tj ET Q q 0 0 0 rg BT 64.08 101.10 Td (These independent agents are not employees of ) Tj ET Q q 0 0 0 rg BT 255.78 101.10 Td (The Hartford. ) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.50 20.10 Td (8) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Competition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The personal lines automobile and homeowners businesses are highly competitive. Personal lines insurance is written by insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (companies of varying sizes that compete on the basis of price, product, service \(including claims handling\), stability of the insurer and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (brand recognition. Companies with recognized brands, direct sales capability and economies of scale will have a competitive advantage. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (In recent years, a number of carriers have increased their advertising in an ef) Tj ET Q q 0 0 0 rg BT 337.84 659.25 Td (fort to gain new business and retain profitable business. ) Tj ET Q q 0 0 0 rg BT 562.61 659.25 Td (This ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (has been particularly true of carriers that sell directly to the consumer) Tj ET Q q 0 0 0 rg BT 308.89 647.25 Td (. Industry sales of personal lines insurance direct to the consumer ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (have been growing faster than sales through agents, particularly for auto insurance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (Carriers that distribute products mainly through agents compete by of) Tj ET Q q 0 0 0 rg BT 309.86 617.25 Td (fering agents commissions and additional incentives to attract new ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (business. ) Tj ET Q q 0 0 0 rg BT 70.21 605.25 Td (T) Tj ET Q q 0 0 0 rg BT 75.62 605.25 Td (o distinguish themselves in the marketplace, top tier carriers are of) Tj ET Q q 0 0 0 rg BT 341.74 605.25 Td (fering on-line and self service capabilities to agents and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (consumers. More agents have been using comparative rater tools that allow the agent to compare premium quotes among several ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (insurance companies. ) Tj ET Q q 0 0 0 rg BT 119.90 581.25 Td (The use of comparative rater tools has further increased price competition. Carriers with more ef) Tj ET Q q 0 0 0 rg BT 505.95 581.25 Td (ficient cost ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (structures will have an advantage in competing for new business through price. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (The use of data mining and predictive modeling is used by more and more carriers to tar) Tj ET Q q 0 0 0 rg BT 384.54 551.25 Td (get the most profitable business and carriers ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (have further segmented their pricing plans to expand market share in what they believe to be the most profitable segments. Some ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (companies, including ) Tj ET Q q 0 0 0 rg BT 119.36 527.25 Td (The Hartford, have written a greater percentage of their new business in preferred market segments which tend to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (have better loss experience but also lower average premiums. In addition, a number of companies have invested in telematics the use ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (of devices in insured vehicles to transmit information about driving behavior such as miles driven, speed, acceleration, deceleration ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (and are using that information to price the risk. Companies that are the first to introduce telematics may enjoy a competitive advantage ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (through favorable risk selection.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (Gr) Tj ET Q q 0 0 0 rg BT 43.54 461.25 Td (oup Benefits) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (Principal Products and Services) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (Group Benefits provides group life, accident and disability coverage, group retiree health and voluntary benefits to individual members ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (of employer groups, associations, af) Tj ET Q q 0 0 0 rg BT 175.73 413.25 Td (finity groups and financial institutions. Group Benefits of) Tj ET Q q 0 0 0 rg BT 405.51 413.25 Td (fers disability underwriting, administration, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (claims processing and reinsurance to other insurers and self-funded employer plans. Policies sold in this segment are generally term ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (insurance, allowing Group Benefits to adjust the rates or terms of its policies in order to minimize the adverse ef) Tj ET Q q 0 0 0 rg BT 480.64 389.25 Td (fect of market trends, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.25 Td (declining interest rates, and other factors. Policies are typically sold with one, two or three-year rate guarantees depending upon the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (product and market segment.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 343.25 Td (In addition to the products and services traditionally of) Tj ET Q q 0 0 0 rg BT 250.71 343.25 Td (fered within each of its lines of business, Group Benefits of) Tj ET Q q 0 0 0 rg BT 488.53 343.25 Td (fers ) Tj ET Q q 0 0 0 rg BT 505.84 343.25 Td (The Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 331.25 Td (Productivity ) Tj ET Q q 0 0 0 rg BT 82.89 331.25 Td (Advantage \(THP) Tj ET Q q 0 0 0 rg BT 154.45 331.25 Td (A\), a single-company solution for leave management, integrating work absence data from the insurer) Tj ET Q q 0 0 0 rg BT 563.29 331.25 Td () Tj ET Q q 0 0 0 rg BT 566.07 331.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 319.25 Td (short-term and long-term group disability and workers) Tj ET Q q 0 0 0 rg BT 251.82 319.25 Td ( compensation insurance with its leave management administration services.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 295.25 Td (Marketing and Distribution) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 277.25 Td (The Group Benefits distribution network includes an experienced group of Company employees, managed through a regional sales ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 265.25 Td (of) Tj ET Q q 0 0 0 rg BT 39.65 265.25 Td (fice system, to distribute its group insurance products and services through a variety of distribution outlets including brokers, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 253.25 Td (consultants, third-party administrators and trade associations.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 231.25 Td (Competition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.25 Td (Group Benefits competes with numerous other insurance companies and other financial intermediaries marketing insurance products. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.25 Td (This line of business focuses on both its risk management expertise and economies of scale to derive a competitive advantage. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.25 Td (Competitive factors af) Tj ET Q q 0 0 0 rg BT 120.73 185.25 Td (fecting Group Benefits include the variety and quality of products and services of) Tj ET Q q 0 0 0 rg BT 446.56 185.25 Td (fered, the price quoted for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (coverage and services, the Company) Tj ET Q q 0 0 0 rg BT 180.61 173.25 Td (s relationships with its third-party distributors, and the quality of customer service. In addition, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.25 Td (active price competition continues in the marketplace resulting in multi-year rate guarantees being of) Tj ET Q q 0 0 0 rg BT 435.33 161.25 Td (fered to customers. ) Tj ET Q q 0 0 0 rg BT 514.01 161.25 Td (T) Tj ET Q q 0 0 0 rg BT 519.42 161.25 Td (op tier carriers ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.25 Td (in the marketplace also of) Tj ET Q q 0 0 0 rg BT 134.61 149.25 Td (fer on-line and self service capabilities to agents and consumers. ) Tj ET Q q 0 0 0 rg BT 394.62 149.25 Td (The relatively lar) Tj ET Q q 0 0 0 rg BT 463.29 149.25 Td (ge size and underwriting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.25 Td (capacity of the Group Benefits business provides opportunities not available to smaller companies.) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.50 20.10 Td (9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Mutual Funds) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Principal Products and Services) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.25 Td (Mutual Funds of) Tj ET Q q 0 0 0 rg BT 97.99 677.25 Td (fers mutual funds for retail and retirement accounts and provides investment-management and administrative services ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (such as product design, implementation and oversight. ) Tj ET Q q 0 0 0 rg BT 251.55 665.25 Td (This business also includes the runof) Tj ET Q q 0 0 0 rg BT 398.85 665.25 Td (f of the mutual funds supporting the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (Company's variable annuity products. ) Tj ET Q q 0 0 0 rg BT 185.04 653.25 Td (W) Tj ET Q q 0 0 0 rg BT 193.67 653.25 Td (ellington Management Company) Tj ET Q q 0 0 0 rg BT 324.66 653.25 Td (, LLP) Tj ET Q q 0 0 0 rg BT 347.07 653.25 Td ( \("W) Tj ET Q q 0 0 0 rg BT 365.62 653.25 Td (ellington Management"\) serves as the primary sub-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (advisor for ) Tj ET Q q 0 0 0 rg BT 77.42 641.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 132.67 641.25 Td (s 96 mutual funds, including equity) Tj ET Q q 0 0 0 rg BT 273.68 641.25 Td (, fixed-income and asset-allocation funds.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (Marketing and Distribution) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (Mutual Fund sales professionals are segmented into two teams; a retail team and an institutional team. ) Tj ET Q q 0 0 0 rg BT 442.61 605.25 Td (The retail team distributes ) Tj ET Q q 0 0 0 rg BT 549.62 605.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (Hartford) Tj ET Q q 0 0 0 rg BT 68.71 593.25 Td (s open-end funds and markets 529 college savings plans to national and regional broker) Tj ET Q q 0 0 0 rg BT 418.69 593.25 Td (-dealer or) Tj ET Q q 0 0 0 rg BT 457.10 593.25 Td (ganizations, banks and other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (financial institutions, independent financial advisors and registered investment advisors. ) Tj ET Q q 0 0 0 rg BT 386.51 581.25 Td (The institutional team distributes ) Tj ET Q q 0 0 0 rg BT 520.75 581.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 576.01 581.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (funds to professional buyers, such as broker) Tj ET Q q 0 0 0 rg BT 207.10 569.25 Td (-dealers, consultants, record keepers, and bank trust groups.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (Competition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (Mutual Funds compete with other mutual fund companies along with investment brokerage companies and dif) Tj ET Q q 0 0 0 rg BT 472.89 533.25 Td (ferentiate themselves ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (through product solutions, performance, and service. In this non-proprietary broker sold market, the Company and its competitors ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (compete aggressively for net sales.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (T) Tj ET Q q 0 0 0 rg BT 37.25 491.25 Td (alcott Resolution ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 473.25 Td (alcott Resolution's business is comprised of runof) Tj ET Q q 0 0 0 rg BT 235.18 473.25 Td (f business from the Company's U.S. annuity) Tj ET Q q 0 0 0 rg BT 410.76 473.25 Td (, international annuity \(in Japan\), and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (institutional and private-placement life insurance businesses. ) Tj ET Q q 0 0 0 rg BT 277.08 461.25 Td (T) Tj ET Q q 0 0 0 rg BT 282.49 461.25 Td (alcott Resolution's mission is to pursue opportunities to reduce the size ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (and risk of the annuity book of business while honoring the Company's obligations to its annuity contractholders. ) Tj ET Q q 0 0 0 rg BT 489.45 449.25 Td (T) Tj ET Q q 0 0 0 rg BT 494.86 449.25 Td (alcott Resolution ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (manages approximately 1.4 million annuity contracts with account values of approximately $150 billion ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.85 437.25 Td (as of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.09 437.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (In 2013, the Company completed the sale of its U.K. annuity business. ) Tj ET Q q 0 0 0 rg BT 316.28 419.25 Td (The ) Tj ET Q q 0 0 0 rg BT 334.14 419.25 Td (T) Tj ET Q q 0 0 0 rg BT 339.55 419.25 Td (alcott Resolution business segment includes our Retirement ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.25 Td (Plans and Individual Life businesses sold in 2013 through reinsurance agreements with the respective buyers. In 2012, the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.25 Td (completed the sale of its U.S. individual annuities new business capabilities and the sale of the administration and operating assets of its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (private placement life insurance business. For further discussion of these transactions, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.00 383.25 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.00 383.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.33 383.25 Td (Business Dispositions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.40 383.25 Td ( and Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.78 383.25 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.78 383.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.25 Td (Discontinued Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 131.20 371.25 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 350.25 Td (Reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 332.25 Td (The Hartford establishes and carries as liabilities reserves for its insurance products to estimate for the following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 314.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 314.25 Td (a liability for unpaid losses, including those that have been incurred but not yet reported, as well as estimates of all ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 302.25 Td (expenses associated with processing and settling these claims;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 284.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 284.25 Td (a liability equal to the balance that accrues to the benefit of the life insurance policyholder as of the consolidated financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 272.25 Td (statement date, otherwise known as the account value;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 254.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 254.25 Td (a liability for future policy benefits, representing the present value of future benefits to be paid to or on behalf of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 242.25 Td (policyholders less the present value of future net premiums;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 224.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 224.25 Td (fair value reserves for living benefits embedded derivative guarantees; and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 206.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 206.25 Td (death and living benefit reserves which are computed based on a percentage of revenues less actual claim costs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 188.25 Td (Further discussion of ) Tj ET Q q 0 0 0 rg BT 118.26 188.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 173.51 188.25 Td (s property and casualty insurance product reserves, including asbestos and environmental claims ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 176.25 Td (reserves, may be found in PartII, Item7, MD&A) Tj ET Q q 0 0 0 rg BT 228.68 176.25 Td ( Critical ) Tj ET Q q 0 0 0 rg BT 275.62 176.25 Td (Accounting Estimates Property and Casualty Insurance Product ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 164.25 Td (Reserves, Net of Reinsurance. ) Tj ET Q q 0 0 0 rg BT 154.24 164.25 Td (Additional discussion may be found in the Company) Tj ET Q q 0 0 0 rg BT 367.83 164.25 Td (s accounting policies for insurance product reserves ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 152.25 Td (within Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 81.50 152.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.50 152.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 94.83 152.25 Td (Basis of Presentation and Significant ) Tj ET Q q 0 0 0 rg BT 244.53 152.25 Td (Accounting Policies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.35 152.25 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (10) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The Hartford cedes insurance to af) Tj ET Q q 0 0 0 rg BT 169.86 695.25 Td (filiated and unaf) Tj ET Q q 0 0 0 rg BT 235.21 695.25 Td (filiated insurers for both its property and casualty and life insurance products. Such ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (arrangements do not relieve ) Tj ET Q q 0 0 0 rg BT 145.16 683.25 Td (The Hartford of its primary liability to policyholders. Failure of reinsurers to honor their obligations could ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (result in losses to ) Tj ET Q q 0 0 0 rg BT 102.98 671.25 Td (The Hartford.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (For property and casualty insurance products, reinsurance arrangements are intended to provide greater diversification of business and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (limit ) Tj ET Q q 0 0 0 rg BT 52.71 641.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 107.96 641.25 Td (s maximum net loss arising from lar) Tj ET Q q 0 0 0 rg BT 252.21 641.25 Td (ge risks or catastrophes. ) Tj ET Q q 0 0 0 rg BT 350.24 641.25 Td (A) Tj ET Q q 0 0 0 rg BT 356.91 641.25 Td ( major portion of ) Tj ET Q q 0 0 0 rg BT 427.27 641.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 482.53 641.25 Td (s property and casualty ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (insurance product reinsurance is ef) Tj ET Q q 0 0 0 rg BT 170.70 629.25 Td (fected under general reinsurance contracts known as treaties, or) Tj ET Q q 0 0 0 rg BT 424.35 629.25 Td (, in some instances, is negotiated on an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (individual risk basis, known as facultative reinsurance. ) Tj ET Q q 0 0 0 rg BT 253.20 617.25 Td (The Hartford also has in-force excess of loss contracts with reinsurers that protect ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (it against a specified part or all of a layer of losses over stipulated amounts.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (For life insurance products, ) Tj ET Q q 0 0 0 rg BT 143.79 587.25 Td (The Hartford is involved in both the cession and assumption of insurance with other insurance and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (reinsurance companies. ) Tj ET Q q 0 0 0 rg BT 127.67 575.25 Td (The Company entered into two reinsurance transactions to cede risks upon completion of the sales of its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (Retirement Plans and Individual Life businesses in January 2013. For further discussion of these transactions, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.01 563.25 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.01 563.25 Td ( - Business ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (Dispositions of Notes to Consolidated Financial Statements. In addition, the Company has reinsured to third parties a portion of the risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (associated with U.S. variable annuities and the associated guaranteed minimum death benefit \(GMDB\) and guaranteed minimum ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (withdrawal benefit \(GMWB\) riders, and of the risks associated with variable annuity contract and rider benefits issued by Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (Life Insurance KK \(HLIKK\), an indirect wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 305.48 515.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.25 Td (For further discussion of reinsurance, see PartII, Item7, MD&A) Tj ET Q q 0 0 0 rg BT 290.61 497.25 Td ( Enterprise Risk Management. ) Tj ET Q q 0 0 0 rg BT 426.69 497.25 Td (Additional discussion of reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.25 Td (may also be found in Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.81 485.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 144.81 485.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.14 485.25 Td (Basis of Presentation and Significant ) Tj ET Q q 0 0 0 rg BT 302.84 485.25 Td (Accounting Policies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.66 485.25 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 467.25 Td (Investment Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (The majority of the Company) Tj ET Q q 0 0 0 rg BT 153.14 449.25 Td (s investment portfolios are managed by Hartford Investment Management Company \(HIMCO\). HIMCO ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (manages the portfolios to maximize economic value, while attempting to generate the income necessary to support the Company) Tj ET Q q 0 0 0 rg BT 549.13 437.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (various product obligations, within internally established objectives, guidelines and risk tolerances. ) Tj ET Q q 0 0 0 rg BT 430.67 425.25 Td (The portfolio objectives and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (guidelines are developed based upon the asset/liability profile, including duration, convexity and other characteristics within specified ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (risk tolerances. ) Tj ET Q q 0 0 0 rg BT 94.35 401.25 Td (The risk tolerances considered include, for example, asset sector) Tj ET Q q 0 0 0 rg BT 351.63 401.25 Td (, credit issuer allocation limits, maximum portfolio ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (limits for below investment grade holdings and foreign currency exposure limits. ) Tj ET Q q 0 0 0 rg BT 357.91 389.25 Td (The Company attempts to minimize adverse impacts to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.25 Td (the portfolio and the Company) Tj ET Q q 0 0 0 rg BT 157.03 377.25 Td (s results of operations from changes in economic conditions through asset diversification, asset allocation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (limits, asset/liability duration matching and through the use of derivatives. For further discussion of HIMCO) Tj ET Q q 0 0 0 rg BT 468.65 365.25 Td (s portfolio management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.25 Td (approach, see PartII, Item 7, MD&A) Tj ET Q q 0 0 0 rg BT 180.07 353.25 Td ( Enterprise Risk Management.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (In addition to managing the general account assets of the Company) Tj ET Q q 0 0 0 rg BT 299.66 335.25 Td (, HIMCO is also a SEC registered investment adviser for third party ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.25 Td (institutional clients, a sub-advisor for certain mutual funds and serves as the sponsor and collateral manager for capital markets ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.25 Td (transactions. HIMCO specializes in investment management that incorporates proprietary research and active portfolio management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.25 Td (within a disciplined risk framework that seeks to provide value added returns versus peers and benchmarks. ) Tj ET Q q 0 0 0 rg BT 463.88 299.25 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.32 299.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.91 299.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.25 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 48.44 287.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.44 287.25 Td (, the fair value of HIMCO) Tj ET Q q 0 0 0 rg BT 175.63 287.25 Td (s total assets under management was approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.29 287.25 Td ($1) Tj ET Q q 0 0 0 rg BT 394.92 287.25 Td (12.6 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.04 287.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.47 287.25 Td ($144.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.59 287.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 569.25 287.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (of which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 69.27 275.25 Td ($6.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.38 275.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.82 275.25 Td ($7.6 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.93 275.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 233.59 275.25 Td (, were held in HIMCO managed third party accounts.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 257.25 Td (Enterprise Risk Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.25 Td (The Company has an enterprise risk management function \(ERM\) that is char) Tj ET Q q 0 0 0 rg BT 350.94 239.25 Td (ged with providing analysis of the Company's risks on an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.25 Td (individual and aggregated basis and with ensuring that the Company's risks remain within its risk appetite and tolerances. ERM plays an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (integral role at ) Tj ET Q q 0 0 0 rg BT 92.13 215.25 Td (The Hartford by fostering a strong risk management culture and discipline. ) Tj ET Q q 0 0 0 rg BT 394.08 215.25 Td (The mission of ERM is to support the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.25 Td (Company in achieving its strategic priorities by:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 185.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 185.25 Td (Providing a comprehensive view of the risks facing the Company) Tj ET Q q 0 0 0 rg BT 322.74 185.25 Td (, including risk concentrations and correlations;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 173.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 173.25 Td (Helping management define the Company's overall capacity and appetite for risk by evaluating the risk return profile of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 161.25 Td (business relative to the Company's strategic intent and financial underpinning;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 149.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 149.25 Td (Assisting management in setting specific risk tolerances and limits that are measurable, actionable, and comply with the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 137.25 Td (Company's overall risk philosophy;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 125.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 125.25 Td (Communicating and monitoring the Company's risk exposures relative to set limits and recommending, or implementing as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 113.25 Td (appropriate, mitigating strategies; and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 101.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 101.25 Td (Providing valuable insight to assist leaders in growing the businesses and achieving optimal risk-adjusted returns within ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 89.25 Td (established guidelines.) Tj ET Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 20.10 Td (1) Tj ET Q q 0 0 0 rg BT 305.78 20.10 Td (1) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Enterprise Risk Management Structure and Governance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (At ) Tj ET Q q 0 0 0 rg BT 43.82 695.25 Td (The Hartford, the Board of Directors \(the Board\) has ultimate responsibility for risk oversight. It exercises its oversight function ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (through its standing committees, each of which has primary risk oversight responsibility with respect to all matters within the scope of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (its duties as contemplated by its charter) Tj ET Q q 0 0 0 rg BT 188.68 671.25 Td (. In addition, the Finance, Investment and Risk Management Committee \(FIRMCo\), which is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (comprised of all members of the Board, has responsibility for the oversight of the investment, financial, and risk management activities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (of the Company) Tj ET Q q 0 0 0 rg BT 95.28 647.25 Td (, and oversight of all risk exposures, including those that do not fall within the responsibility of any other standing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (committee. ) Tj ET Q q 0 0 0 rg BT 78.53 635.25 Td (The ) Tj ET Q q 0 0 0 rg BT 96.02 635.25 Td (Audit Committee is responsible for) Tj ET Q q 0 0 0 rg BT 236.71 635.25 Td (, among other things, discussing with management policies with respect to risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (assessment and risk management.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (At the corporate level, the Company's Enterprise Chief Risk Of) Tj ET Q q 0 0 0 rg BT 284.72 605.25 Td (ficer \(Chief Risk Of) Tj ET Q q 0 0 0 rg BT 369.23 605.25 Td (ficer\) leads ERM. ) Tj ET Q q 0 0 0 rg BT 447.35 605.25 Td (The Chief Risk Of) Tj ET Q q 0 0 0 rg BT 521.33 605.25 Td (ficer reports ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (directly to the Company's Chief Executive Of) Tj ET Q q 0 0 0 rg BT 214.19 593.25 Td (ficer \(CEO\). ) Tj ET Q q 0 0 0 rg BT 275.36 593.25 Td (The Company has established the Enterprise Risk and Capital Committee ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (\(ERCC\) that includes the Company's CEO, Chief Financial Of) Tj ET Q q 0 0 0 rg BT 290.57 581.25 Td (ficer , Chief Investment Of) Tj ET Q q 0 0 0 rg BT 398.41 581.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 416.32 581.25 Td (, Chief Risk Of) Tj ET Q q 0 0 0 rg BT 477.25 581.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 495.17 581.25 Td (, the Presidents and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (Chief Operating Of) Tj ET Q q 0 0 0 rg BT 109.07 569.25 Td (ficers of each business segment, and the General Counsel. ) Tj ET Q q 0 0 0 rg BT 343.54 569.25 Td (The ERCC is responsible for managing the Company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (risks and overseeing the enterprise risk management program. ) Tj ET Q q 0 0 0 rg BT 282.07 557.25 Td (The ERCC also manages the capital structure of the enterprise and is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (responsible for the attribution of capital to the lines of business. ) Tj ET Q q 0 0 0 rg BT 288.49 545.25 Td (The ERCC reports to the Board primarily through FIRMCo and through ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (interactions with the ) Tj ET Q q 0 0 0 rg BT 115.09 533.25 Td (Audit Committee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (The Company also has committees that manage specific risks and recommend risk mitigation strategies to the ERCC. ) Tj ET Q q 0 0 0 rg BT 503.99 515.25 Td (These committees ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (include, but are not limited to, the Company and Division ) Tj ET Q q 0 0 0 rg BT 264.24 503.25 Td (Asset Liability Committees, Catastrophe Risk Committee, Emer) Tj ET Q q 0 0 0 rg BT 521.25 503.25 Td (ging Risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (Committees, Model Oversight Committees and Operational Risk Committee.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (Risk Management Framework) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.25 Td (At the Company) Tj ET Q q 0 0 0 rg BT 96.95 455.25 Td (, risk is managed at multiple levels. ) Tj ET Q q 0 0 0 rg BT 240.91 455.25 Td (The Hartford utilizes three lines of defense in risk management to integrate its risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (management strategy and appetite into all functional areas of the Company) Tj ET Q q 0 0 0 rg BT 330.75 443.25 Td (, the Board and senior level risk committees. ) Tj ET Q q 0 0 0 rg BT 511.63 443.25 Td (The first line of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.25 Td (defense in risk management is generally the responsibility of the lines of business. Senior business leaders are responsible for managing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (risks specific to their business objectives and business environment. ) Tj ET Q q 0 0 0 rg BT 305.71 419.25 Td (The second line of defense in risk management is generally owned ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.25 Td (by ERM. ERM has the responsibility to ensure that the Company has insight into its aggregate risk and that risks are managed within the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.25 Td (firm) Tj ET Q q 0 0 0 rg BT 51.50 395.25 Td (s overall risk appetite. Legal and Compliance also commonly perform second line of defense risk management. ) Tj ET Q q 0 0 0 rg BT 498.95 395.25 Td (The third line of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (defense in risk management is owned by Internal ) Tj ET Q q 0 0 0 rg BT 229.78 383.25 Td (Audit. Internal ) Tj ET Q q 0 0 0 rg BT 293.10 383.25 Td (Audit provides independent assurance services to evaluate the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.25 Td (ef) Tj ET Q q 0 0 0 rg BT 39.09 371.25 Td (fectiveness of management) Tj ET Q q 0 0 0 rg BT 150.71 371.25 Td (s controls, informs the risk identification process and provides audit and consultative support to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.25 Td (Company) Tj ET Q q 0 0 0 rg BT 69.74 359.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.25 Td (The Company's Risk Management Framework consists of five core elements:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 323.25 Td (1. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 323.25 Td (Risk Culture and Governance: ) Tj ET Q q 0 0 0 rg BT 209.18 323.25 Td (The Company has established policies for its major risks and a formal governance structure ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 311.25 Td (with leadership oversight and an assignment of accountability and authority) Tj ET Q q 0 0 0 rg BT 387.83 311.25 Td (. ) Tj ET Q q 0 0 0 rg BT 392.65 311.25 Td (The governance structure starts at the Board ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 299.25 Td (and cascades to the ERCC and then to individual risk committees across the Company) Tj ET Q q 0 0 0 rg BT 432.56 299.25 Td (. In addition, the Company promotes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 287.25 Td (a strong risk management culture and high expectations around ethical behavior) Tj ET Q q 0 0 0 rg BT 404.84 287.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 272.25 Td (2. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 272.25 Td (Risk Identification and ) Tj ET Q q 0 0 0 rg BT 179.09 272.25 Td (Assessment: ) Tj ET Q q 0 0 0 rg BT 231.41 272.25 Td (Through its ERM or) Tj ET Q q 0 0 0 rg BT 312.62 272.25 Td (ganization, the Company has developed processes for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 260.25 Td (identification, assessment, and, when appropriate, response to internal and external risks to the Company's operations and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 248.25 Td (business objectives. Risk identification and prioritization has been established within each area, including processes around ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 236.25 Td (emer) Tj ET Q q 0 0 0 rg BT 105.30 236.25 Td (ging risks.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 221.25 Td (3. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 221.25 Td (Risk ) Tj ET Q q 0 0 0 rg BT 105.79 221.25 Td (Appetite, ) Tj ET Q q 0 0 0 rg BT 145.04 221.25 Td (T) Tj ET Q q 0 0 0 rg BT 150.45 221.25 Td (olerances, and Limits: ) Tj ET Q q 0 0 0 rg BT 241.35 221.25 Td (The Company has a formal enterprise risk appetite framework that is approved by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 209.25 Td (the ERCC and reviewed by the Board. ) Tj ET Q q 0 0 0 rg BT 241.39 209.25 Td (The risk appetite framework includes an enterprise risk appetite statement, risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 197.25 Td (preferences, risk tolerances and an associated limit structure for each of the Company) Tj ET Q q 0 0 0 rg BT 430.64 197.25 Td (s major risks. ) Tj ET Q q 0 0 0 rg BT 486.57 197.25 Td (These limits, which are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 185.25 Td (encapsulated in formal risk policies, are reviewed by the appropriate governing risk committee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 170.25 Td (4. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 170.25 Td (Risk Management and Controls: ) Tj ET Q q 0 0 0 rg BT 217.53 170.25 Td (While the Company utilizes the committee structure to elevate risk discussions and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 158.25 Td (decision-making, there are a variety of working groups that provide decisioning and management of risk within determined ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 146.25 Td (tolerances and limits.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 131.25 Td (5. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 131.25 Td (Risk Reporting and Communication: ) Tj ET Q q 0 0 0 rg BT 235.31 131.25 Td (The Company monitors its major risks at the enterprise level through a number of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 119.25 Td (enterprise reports, including but not limited to, a monthly risk dashboard, tracking the return on risk-capital across ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 107.25 Td (products, and regular stress testing. ERM communicates the Company's risk exposures to senior and executive ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 95.25 Td (management and the Board, and reviews key business performance metrics, risk indicators, audit reports, risk/control self-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 83.25 Td (assessments and risk event data.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (12) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Risk Exposures and Quantification) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The Company quantifies its enterprise insurance and financial risk exposures using multiple lenses including statutory) Tj ET Q q 0 0 0 rg BT 503.52 695.25 Td (, economic and, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (where appropriate, U.S. GAAP) Tj ET Q q 0 0 0 rg BT 155.36 683.25 Td (. ERM leverages various modeling techniques and metrics to provide a view of the Company's risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (exposure in both normal and stressed environments. ERM regularly monitors the Company's risk exposure as compared to defined ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (statutory limits and provides regular reporting to the ERCC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (In order to quantify group capital levels the Company uses an Economic Capital Model \(ECM\)to quantify the value of risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (management across the business lines and to advance its risk-based decision-making and optimization across risk and business. ) Tj ET Q q 0 0 0 rg BT 542.87 629.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (Company also uses the ECM to inform the attribution of risk capital to each line of business. ) Tj ET Q q 0 0 0 rg BT 404.59 617.25 Td (The Company categorizes its main risks as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (follows in order to achieve a consistent and disciplined approach to quantifying, evaluating, and managing risk:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 587.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 587.25 Td (Insurance Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 575.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 575.25 Td (Operational Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 563.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 563.25 Td (Financial Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 81.40 539.25 Td (, the Company manages its business risk, categorized as strategic risk and management risk, at all levels of the or) Tj ET Q q 0 0 0 rg BT 533.87 539.25 Td (ganization. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (Strategic risk is defined as the risk to the defined company objectives from adverse developments in the Company's strategy vis--vis ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (changing market conditions and competitor actions. Management risk is defined as the risk to defined company objectives from the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (inef) Tj ET Q q 0 0 0 rg BT 46.87 503.25 Td (fective or inef) Tj ET Q q 0 0 0 rg BT 102.76 503.25 Td (ficient execution of the Company's strategic and business decisions. Enterprise strategic and management risks are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (assessed through strategic, business and operating plan reviews, as well as through management self-assessment processes and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (benchmarking and is inherently included in the Company) Tj ET Q q 0 0 0 rg BT 263.95 479.25 Td (s evaluation of insurance, operational, and financial risk.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 459.9169921875 m 91.20703125 459.9169921875 l s q 0 0 0 rg BT 31.50 461.25 Td (Insurance Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (The Company defines insurance risk as its exposure to loss due to property) Tj ET Q q 0 0 0 rg BT 330.79 443.25 Td (, liability) Tj ET Q q 0 0 0 rg BT 366.25 443.25 Td (, mortality) Tj ET Q q 0 0 0 rg BT 407.26 443.25 Td (, morbidity) Tj ET Q q 0 0 0 rg BT 451.05 443.25 Td (, disability) Tj ET Q q 0 0 0 rg BT 492.62 443.25 Td (, longevity and other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.25 Td (perils and risks covered under its policies, including adverse development on loss reserves supporting its products and geographic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (accumulations of loss over time due to property or casualty catastrophes.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 399.9169921875 m 99.5419921875 399.9169921875 l s q 0 0 0 rg BT 31.50 401.25 Td (Operational Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (The Company defines operational risk as the risk of loss resulting from inadequate or failed internal processes, people and systems, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.25 Td (from external events.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 351.9169921875 m 89.5517578125 351.9169921875 l s q 0 0 0 rg BT 31.50 353.25 Td (Financial Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (Financial risk is broadly defined by the Company to include liquidity) Tj ET Q q 0 0 0 rg BT 307.47 335.25 Td (, interest rate, equity) Tj ET Q q 0 0 0 rg BT 388.74 335.25 Td (, foreign exchange, and credit risks, all of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.25 Td (which have the potential to materially impact the Company's financial condition. Financial risk also includes exposure to events that may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.25 Td (cause correlated movement in the above risk factors.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.25 Td (For further discussion on risk management, see PartII, Item7, MD&A) Tj ET Q q 0 0 0 rg BT 314.78 293.25 Td ( - Enterprise Risk Management.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (Regulation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.25 Td (Insurance companies are subject to comprehensive and detailed regulation and supervision throughout the United States. ) Tj ET Q q 0 0 0 rg BT 516.18 257.25 Td (The extent of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.25 Td (such regulation varies, but generally has its source in statutes which delegate regulatory) Tj ET Q q 0 0 0 rg BT 381.57 245.25 Td (, supervisory and administrative powers to state ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (insurance departments. Such powers relate to, among other things, the standards of solvency that must be met and maintained; the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.25 Td (licensing of insurers and their agents; the nature of and limitations on investments; establishing premium rates; claim handling and trade ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.25 Td (practices; restrictions on the size of risks which may be insured under a single policy; deposits of securities for the benefit of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.25 Td (policyholders; approval of policy forms; periodic examinations of the af) Tj ET Q q 0 0 0 rg BT 319.85 197.25 Td (fairs of companies; annual and other reports required to be filed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.25 Td (on the financial condition of companies or for other purposes; and minimum rates for accumulation of surrender values; and the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (adequacy of reserves and other necessary provisions for unearned premiums, unpaid losses and loss adjustment expenses and other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.25 Td (liabilities, both reported and unreported.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.25 Td (Most states have enacted legislation that regulates insurance holding company systems such as ) Tj ET Q q 0 0 0 rg BT 412.61 143.25 Td (The Hartford. ) Tj ET Q q 0 0 0 rg BT 469.91 143.25 Td (This legislation provides ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.25 Td (that each insurance company in the system is required to register with the insurance department of its state of domicile and furnish ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 119.25 Td (information concerning the operations of companies within the holding company system that may materially af) Tj ET Q q 0 0 0 rg BT 476.20 119.25 Td (fect the operations, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 107.25 Td (management or financial condition of the insurers within the system. ) Tj ET Q q 0 0 0 rg BT 308.38 107.25 Td (All transactions within a holding company system af) Tj ET Q q 0 0 0 rg BT 519.00 107.25 Td (fecting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 95.25 Td (insurers must be fair and equitable. Notice to the insurance departments is required prior to the consummation of transactions af) Tj ET Q q 0 0 0 rg BT 542.83 95.25 Td (fecting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 83.25 Td (the ownership or control of an insurer and of certain material transactions between an insurer and any entity in its holding company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 71.25 Td (system. In addition, certain of such transactions cannot be consummated without the applicable insurance department) Tj ET Q q 0 0 0 rg BT 503.58 71.25 Td (s prior approval. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 59.25 Td (the jurisdictions in which the Company) Tj ET Q q 0 0 0 rg BT 191.76 59.25 Td (s insurance company subsidiaries are domiciled, the acquisition of more than 10% of ) Tj ET Q q 0 0 0 rg BT 533.71 59.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 47.25 Td (Hartford) Tj ET Q q 0 0 0 rg BT 68.71 47.25 Td (s outstanding common stock would require the acquiring party to make various regulatory filings.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Certain of the Company) Tj ET Q q 0 0 0 rg BT 130.65 713.10 Td (s life insurance subsidiaries sold variable life insurance, variable annuity) Tj ET Q q 0 0 0 rg BT 420.46 713.10 Td (, and some fixed guaranteed products ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (that are securities registered with the SEC under the Securities ) Tj ET Q q 0 0 0 rg BT 291.97 701.10 Td (Act of 1933, as amended. Some of the products have separate accounts ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (that are registered as investment companies under the Investment Company ) Tj ET Q q 0 0 0 rg BT 335.86 689.10 Td (Act of 1940, as amended \(the 1940 ) Tj ET Q q 0 0 0 rg BT 482.48 689.10 Td (Act\), and/or are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (regulated by state law) Tj ET Q q 0 0 0 rg BT 118.32 677.10 Td (. Separate account investment products are also subject to state insurance regulation. Moreover) Tj ET Q q 0 0 0 rg BT 497.78 677.10 Td (, each separate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (account is generally divided into sub-accounts, each of which invests in an underlying mutual fund that is also registered as an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (investment company under the 1940 ) Tj ET Q q 0 0 0 rg BT 178.97 653.10 Td (Act \(Underlying Funds\). ) Tj ET Q q 0 0 0 rg BT 288.77 653.10 Td (The Company of) Tj ET Q q 0 0 0 rg BT 356.35 653.10 Td (fers these Underlying Funds and retail mutual funds ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (that are registered with and regulated by the SEC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (In addition, other subsidiaries of the Company sold and distributed the Company) Tj ET Q q 0 0 0 rg BT 357.56 623.10 Td (s variable insurance products, Underlying Funds and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (retail mutual funds as broker) Tj ET Q q 0 0 0 rg BT 146.27 611.10 Td (-dealers and are subject to regulation promulgated and enforced by the Financial Industry Regulatory ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (Authority \(FINRA\), the SEC and/or in, some instances, state securities administrators. Other entities operate as investment advisers ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (registered with the SEC under the Investment ) Tj ET Q q 0 0 0 rg BT 215.63 587.10 Td (Advisers ) Tj ET Q q 0 0 0 rg BT 253.13 587.10 Td (Act of 1940 and are registered as investment advisers under certain state laws, as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (applicable. One subsidiary is an investment company registered under the 1940 ) Tj ET Q q 0 0 0 rg BT 350.86 575.10 Td (Act. Because federal and state laws and regulations are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (primarily intended to protect investors in securities markets, they generally grant regulators broad rulemaking and enforcement authority) Tj ET Q q 0 0 0 rg BT 577.62 563.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (Some of these regulations include, among other things, regulations impacting sales methods, trading practices, suitability of investments, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (use and safekeeping of customers) Tj ET Q q 0 0 0 rg BT 168.49 539.10 Td ( funds, corporate governance, capital, record keeping, and reporting requirements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (The extent of insurance regulation on business outside the United States varies significantly among the countries in which ) Tj ET Q q 0 0 0 rg BT 521.76 521.10 Td (The Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (operates. Some countries have minimal regulatory requirements, while others regulate insurers extensively) Tj ET Q q 0 0 0 rg BT 457.66 509.10 Td (. Foreign insurers in certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (countries are faced with greater restrictions than domestic competitors domiciled in that particular jurisdiction. ) Tj ET Q q 0 0 0 rg BT 476.45 497.10 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 531.71 497.10 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (international operations are comprised of insurers licensed in their respective countries.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.10 Td (In addition, as described under Legislative Developments, we are subject to a number of Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 450.07 467.10 Td (W) Tj ET Q q 0 0 0 rg BT 458.71 467.10 Td (all Street Reform and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.10 Td (Consumer Protection ) Tj ET Q q 0 0 0 rg BT 118.16 455.10 Td (Act of 2010 \(the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 241.74 455.10 Td (Act\) provisions. Failure to comply with federal and state laws and regulations may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.10 Td (result in censure, fines, the issuance of cease-and-desist orders or suspension, termination or limitation of the activities of our operations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.10 Td (and/or our employees. ) Tj ET Q q 0 0 0 rg BT 122.96 431.10 Td (W) Tj ET Q q 0 0 0 rg BT 131.60 431.10 Td (e cannot predict the impact of these actions on our businesses, results of operations or financial condition.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (Intellectual Pr) Tj ET Q q 0 0 0 rg BT 92.69 413.10 Td (operty) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.10 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 395.10 Td (e rely on a combination of contractual rights and copyright, trademark, patent and trade secret laws to establish and protect our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (intellectual property) Tj ET Q q 0 0 0 rg BT 111.65 383.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.10 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 365.10 Td (e have a trademark portfolio that we consider important in the marketing of our products and services, including, among others, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (trademarks of ) Tj ET Q q 0 0 0 rg BT 89.07 353.10 Td (The Hartford name, the Stag Logo and the combination of these two marks. ) Tj ET Q q 0 0 0 rg BT 394.09 353.10 Td (The duration of trademark registrations may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (be renewed indefinitely subject to country-specific use and registration requirements. ) Tj ET Q q 0 0 0 rg BT 374.81 341.10 Td (W) Tj ET Q q 0 0 0 rg BT 383.45 341.10 Td (e regard our trademarks as extremely valuable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (assets in marketing our products and services and vigorously seek to protect them against infringement. In addition, we own a number ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.10 Td (of patents and patent applications relating to on-line quoting, insurance related processing, insurance telematics, proprietary interface ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.10 Td (platforms, and other matters, some of which may be important to our business operations. Patents are of varying duration depending on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.10 Td (filing date, and will typically expire at the end of their natural term.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (Employees) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.10 Td (The Hartford has approximately 18,800 employees as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 259.49 257.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.07 257.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 239.10 Td (A) Tj ET Q q 0 0 0 rg BT 37.98 239.10 Td (vailable Information) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 221.10 Td (s Internet address is www) Tj ET Q q 0 0 0 rg BT 193.87 221.10 Td (.thehartford.com. Our annual report on Form 10-K, quarterly reports on Form 10-Q, current ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.10 Td (reports on Form 8-K, and amendments to those reports are available, without char) Tj ET Q q 0 0 0 rg BT 359.00 209.10 Td (ge, on the investor relations section of our website, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.10 Td (http://ir) Tj ET Q q 0 0 0 rg BT 60.95 197.10 Td (.thehartford.com, as soon as reasonably practicable after they are filed electronically with the SEC. Reports filed with the SEC ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.10 Td (may be viewed at www) Tj ET Q q 0 0 0 rg BT 125.26 185.10 Td (.sec.gov or obtained at the SEC) Tj ET Q q 0 0 0 rg BT 253.85 185.10 Td (s Public Reference Room at 100 F Street, N.E., ) Tj ET Q q 0 0 0 rg BT 445.02 185.10 Td (W) Tj ET Q q 0 0 0 rg BT 453.66 185.10 Td (ashington D.C. Information ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.10 Td (regarding the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-SEC-0330. References in this report ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.10 Td (to our website address are provided only as a convenience and do not constitute, and should not be viewed as, an incorporation by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.10 Td (reference of the information contained on, or available through, the website. ) Tj ET Q q 0 0 0 rg BT 338.42 149.10 Td (Therefore, such information should not be considered part ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.10 Td (of this report.) Tj ET Q endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (14) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (Item 1A. RISK F) Tj ET Q q 0 0 0 rg BT 116.23 712.60 Td (ACT) Tj ET Q q 0 0 0 rg BT 139.26 712.60 Td (ORS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 694.60 Td (Investing in ) Tj ET Q q 0 0 0 rg BT 81.31 694.60 Td (The Hartford involves risk. In deciding whether to invest in ) Tj ET Q q 0 0 0 rg BT 321.91 694.60 Td (The Hartford, you should carefully consider the following risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 682.60 Td (factors, any of which could have an adverse ef) Tj ET Q q 0 0 0 rg BT 217.07 682.60 Td (fect on the business, financial condition, results of operations, or liquidity of ) Tj ET Q q 0 0 0 rg BT 524.88 682.60 Td (The Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 670.60 Td (and could also impact the trading price of our securities. ) Tj ET Q q 0 0 0 rg BT 258.75 670.60 Td (The Hartford may also be subject to other risks and uncertainties that are not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 658.60 Td (specifically described below) Tj ET Q q 0 0 0 rg BT 144.69 658.60 Td (, which may have an adverse ef) Tj ET Q q 0 0 0 rg BT 270.29 658.60 Td (fect on the business, financial condition, results of operations, or liquidity of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 646.60 Td (The Hartford. ) Tj ET Q q 0 0 0 rg BT 88.79 646.60 Td (This information should be considered carefully together with the other information contained in this report and the other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 634.60 Td (reports and materials filed by ) Tj ET Q q 0 0 0 rg BT 151.00 634.60 Td (The Hartford with the Securities and Exchange Commission \(SEC\). ) Tj ET Q q 0 0 0 rg BT 433.53 634.60 Td (The following risk factors have been ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 622.60 Td (or) Tj ET Q q 0 0 0 rg BT 39.65 622.60 Td (ganized by category for ease of use, however many of the risks may have impacts in more than one category) Tj ET Q q 0 0 0 rg BT 472.73 622.60 Td (. ) Tj ET Q q 0 0 0 rg BT 477.55 622.60 Td (These categories, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 610.60 Td (therefore, should be viewed as a starting point for understanding the significant risks facing us and not as a limitation on the potential ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 598.60 Td (impact of the matters discussed. Risk factors are not necessarily listed in order of importance.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 580.60 Td (Risks Relating to Economic, Market and Political Conditions ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 562.60 Td (Unfavorable conditions in our operating environment, including general economic and global capital market conditions, and ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 550.60 Td (financial and capital markets risks, including changes in interest rates, credit spreads, equity prices, market volatility) Tj ET Q q 0 0 0 rg BT 511.97 550.60 Td (, foreign ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 538.60 Td (exchange rates and real estate market deterioration, may have a material adverse ef) Tj ET Q q 0 0 0 rg BT 375.44 538.60 Td (fect on our business, financial condition, results ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 526.60 Td (of operations, and liquidity) Tj ET Q q 0 0 0 rg BT 142.25 526.60 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 508.60 Td (Despite the rise in U.S. equity markets in 2013, there continues to be uncertainty regarding the timing and strength of an economic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 496.60 Td (recovery) Tj ET Q q 0 0 0 rg BT 65.83 496.60 Td (, which may adversely af) Tj ET Q q 0 0 0 rg BT 165.88 496.60 Td (fect our business, financial condition, results of operations and liquidity in 2014. ) Tj ET Q q 0 0 0 rg BT 490.37 496.60 Td (W) Tj ET Q q 0 0 0 rg BT 499.00 496.60 Td (eak economic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 484.60 Td (conditions, such as continued high unemployment, low labor force participation, lower family income, higher tax rates, including on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 472.60 Td (small business owners, lower business investment and lower consumer spending have adversely af) Tj ET Q q 0 0 0 rg BT 425.95 472.60 Td (fected or may in the future adversely ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 460.60 Td (af) Tj ET Q q 0 0 0 rg BT 39.09 460.60 Td (fect the demand for financial and insurance products, as well as their profitability in some cases. ) Tj ET Q q 0 0 0 rg BT 426.55 460.60 Td (These weak economic conditions are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 448.60 Td (also likely to result in the persistence of a sustained low interest rate environment as well as volatility in other capital market conditions, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 436.60 Td (which will continue to pressure our investment results.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 418.00 Td (One important exposure to equity risk relates to the potential for lower earnings associated with our operations in Mutual Funds and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 406.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 406.00 Td (alcott Resolution, such as U.S. and Japan variable annuities, where fee income is earned based upon the fair value of the assets under ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 394.00 Td (management. Should global equity markets decline from current levels, assets under management and related fee income will be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 382.00 Td (reduced. Certain of our products have guaranteed benefits that increase our potential obligation and statutory capital exposure should ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 370.00 Td (equity markets decline. Sustained declines in equity markets may result in the need to utilize significant additional capital to support ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 358.00 Td (these products and adversely af) Tj ET Q q 0 0 0 rg BT 156.83 358.00 Td (fect our ability to support our other businesses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 339.40 Td (While interest rates in recent periods continue to be near historically low levels, recent increases in market rates have mar) Tj ET Q q 0 0 0 rg BT 517.79 339.40 Td (ginally reduced ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 327.40 Td (our reinvestment risk. However) Tj ET Q q 0 0 0 rg BT 157.73 327.40 Td (, further reductions in market rates or a sustained low interest rate environment would pressure our net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 315.40 Td (investment income and could result in lower mar) Tj ET Q q 0 0 0 rg BT 227.10 315.40 Td (gins and lower estimated gross profits on certain products. In addition, due to the long-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 303.40 Td (term nature of the liabilities within our ) Tj ET Q q 0 0 0 rg BT 188.78 303.40 Td (T) Tj ET Q q 0 0 0 rg BT 194.19 303.40 Td (alcott Resolution operations, such as structured settlements and guaranteed benefits on variable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 291.40 Td (annuities, sustained declines in long-term interest rates subjects us to reinvestment risks, increased hedging costs, spread compression ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 279.40 Td (and capital volatility) Tj ET Q q 0 0 0 rg BT 113.05 279.40 Td (. ) Tj ET Q q 0 0 0 rg BT 117.50 279.40 Td (A) Tj ET Q q 0 0 0 rg BT 124.17 279.40 Td ( rise in interest rates, in the absence of other countervailing changes, will reduce the market value of our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 267.40 Td (investment portfolio and, if long-term interest rates were to rise dramatically within a six-to-twelve month time period, certain products ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 255.40 Td (within our ) Tj ET Q q 0 0 0 rg BT 75.21 255.40 Td (T) Tj ET Q q 0 0 0 rg BT 80.62 255.40 Td (alcott Resolution division might be exposed to disintermediation risk. Disintermediation risk refers to the risk that our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 243.40 Td (policyholders may surrender their contracts in a rising interest rate environment, requiring us to liquidate in an unrealized loss position. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 231.40 Td (An increase in interest rates can also impact our tax planning strategies and in particular our ability to utilize tax benefits to of) Tj ET Q q 0 0 0 rg BT 535.04 231.40 Td (fset certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 219.40 Td (previously recognized realized capital losses. ) Tj ET Q q 0 0 0 rg BT 214.21 219.40 Td (Assets supporting the liabilities within our property & casualty and group benefits ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 207.40 Td (businesses are lar) Tj ET Q q 0 0 0 rg BT 101.29 207.40 Td (gely invested in fixed income securities. Changes in interest rates will af) Tj ET Q q 0 0 0 rg BT 391.03 207.40 Td (fect the value of these assets and expose the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 195.40 Td (company to reinvestment risk and disintermediation risk if cash flows dif) Tj ET Q q 0 0 0 rg BT 324.03 195.40 Td (fer materially from our projections. ) Tj ET Q q 0 0 0 rg BT 467.32 195.40 Td (Additionally) Tj ET Q q 0 0 0 rg BT 517.22 195.40 Td (, new and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 183.40 Td (renewal business for these products is priced based on prevailing interest rates. ) Tj ET Q q 0 0 0 rg BT 348.91 183.40 Td (As interest rates decline, pricing tar) Tj ET Q q 0 0 0 rg BT 490.89 183.40 Td (gets will increase to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 171.40 Td (of) Tj ET Q q 0 0 0 rg BT 39.65 171.40 Td (fset the lower anticipated investment income earned on invested premiums. Conversely) Tj ET Q q 0 0 0 rg BT 391.12 171.40 Td (, as interest rates rise, pricing tar) Tj ET Q q 0 0 0 rg BT 520.89 171.40 Td (gets will ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 159.40 Td (decrease to reflect higher anticipated investment income. Such changes in pricing may af) Tj ET Q q 0 0 0 rg BT 387.57 159.40 Td (fect our competitiveness in the marketplace, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 147.40 Td (and in turn, written premium and earnings mar) Tj ET Q q 0 0 0 rg BT 217.94 147.40 Td (gin achieved. ) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Our exposure to credit spreads primarily relates to market price and cash flow variability associated with changes in credit spreads. If ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (issuer credit spreads widen significantly and retain historically wide levels over an extended period of time, other) Tj ET Q q 0 0 0 rg BT 484.77 701.10 Td (-than-temporary ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (impairments and decreases in the market value of our investment portfolio will likely result. In addition, losses may also occur due to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (volatility in credit spreads. ) Tj ET Q q 0 0 0 rg BT 140.46 677.10 Td (When credit spreads widen, we incur losses associated with the credit derivatives where the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (assumes exposure. ) Tj ET Q q 0 0 0 rg BT 108.25 665.10 Td (When credit spreads tighten, we incur losses associated with derivatives where the Company has purchased credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (protection. If credit spreads tighten significantly) Tj ET Q q 0 0 0 rg BT 223.57 653.10 Td (, the Company's net investment income associated with new purchases of fixed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (maturities may be reduced. In addition, a reduction in market liquidity can make it dif) Tj ET Q q 0 0 0 rg BT 374.55 641.10 Td (ficult to value certain of our securities when ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (trading becomes less frequent. ) Tj ET Q q 0 0 0 rg BT 155.07 629.10 Td (As such, valuations may include assumptions or estimates that may be more susceptible to significant ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (period-to-period changes, which could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 292.59 617.10 Td (fect on our business, financial condition, results of operations or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (liquidity) Tj ET Q q 0 0 0 rg BT 64.74 605.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (Our statutory surplus is also af) Tj ET Q q 0 0 0 rg BT 153.80 587.10 Td (fected by widening credit spreads as a result of the accounting for the assets and liabilities on our fixed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (market value adjusted \(MV) Tj ET Q q 0 0 0 rg BT 144.34 575.10 Td (A\) annuities. Statutory separate account assets supporting the fixed MV) Tj ET Q q 0 0 0 rg BT 434.64 575.10 Td (A) Tj ET Q q 0 0 0 rg BT 441.31 575.10 Td ( annuities are recorded at fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (value. In determining the statutory reserve for the fixed MV) Tj ET Q q 0 0 0 rg BT 270.13 563.10 Td (A) Tj ET Q q 0 0 0 rg BT 276.80 563.10 Td ( annuities we are required to use current crediting rates in the U.S. and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (Japanese LIBOR in Japan. In many capital market scenarios, current crediting rates in the U.S. are highly correlated with market rates ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (implicit in the fair value of statutory separate account assets. ) Tj ET Q q 0 0 0 rg BT 275.59 539.10 Td (As a result, the change in the statutory reserve from period to period will ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (likely substantially of) Tj ET Q q 0 0 0 rg BT 117.97 527.10 Td (fset the change in the fair value of the statutory separate account assets. However) Tj ET Q q 0 0 0 rg BT 442.44 527.10 Td (, in periods of volatile credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.10 Td (markets, actual credit spreads on investment assets may increase sharply for certain sub-sectors of the overall credit market, resulting in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.10 Td (statutory separate account asset market value losses. ) Tj ET Q q 0 0 0 rg BT 242.54 503.10 Td (As actual credit spreads are not fully reflected in current crediting rates in the U.S. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.10 Td (or Japanese LIBOR in Japan, the calculation of statutory reserves will not substantially of) Tj ET Q q 0 0 0 rg BT 390.12 491.10 Td (fset the change in fair value of the statutory ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.10 Td (separate account assets resulting in reductions in statutory surplus. ) Tj ET Q q 0 0 0 rg BT 299.59 479.10 Td (This has resulted in the past and may result in the future in the need to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.10 Td (devote significant additional capital to support the fixed MV) Tj ET Q q 0 0 0 rg BT 272.37 467.10 Td (A) Tj ET Q q 0 0 0 rg BT 279.04 467.10 Td ( product.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (Our primary foreign currency exchange risk is related to certain guaranteed benefits associated with the Japan variable annuities. ) Tj ET Q q 0 0 0 rg BT 549.17 449.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (strengthening of the yen compared with other currencies would substantially increase our exposure to pay yen-denominated obligations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (In addition, the weakening of foreign currencies versus the U.S. dollar will unfavorably af) Tj ET Q q 0 0 0 rg BT 391.76 425.10 Td (fect net income from foreign operations, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (value of non-U.S. dollar denominated investments, investments in foreign subsidiaries and realized gains or losses from the hedging of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (yen denominated individual fixed annuity products. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (Our real estate market exposure includes investments in commercial mortgage-backed securities, residential mortgage-backed securities, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (commercial real estate collateralized debt obligations, mortgage and real estate partnerships, and mortgage loans. Deterioration in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.10 Td (real estate market has adversely af) Tj ET Q q 0 0 0 rg BT 168.75 359.10 Td (fected our business, financial condition, results of operations and liquidity in the past. ) Tj ET Q q 0 0 0 rg BT 513.49 359.10 Td (While the real ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.10 Td (estate market has shown signs of improvement, deteriorating fundamentals \(including increases in property vacancy rates, delinquencies ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.10 Td (and foreclosures\) could cause a decline in market values, which would have a negative impact on sources of refinancing, resulting in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.10 Td (reduced market liquidity and higher risk premiums. ) Tj ET Q q 0 0 0 rg BT 239.60 323.10 Td (This could result in reductions in market value and impairments of real estate backed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (securities, a reduction in net investment income associated with real estate partnerships, and increases in our valuation allowance for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.10 Td (mortgage loans.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.10 Td (Significant declines in global equity prices, changes in U.S. interest rates, changes in credit spreads, inflation, the strengthening or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.10 Td (weakening of foreign currencies against the U.S. dollar and Euro, or real estate market deterioration, individually or in combination, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.10 Td (could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 160.42 257.10 Td (fect on our business, financial condition, results of operations or liquidity) Tj ET Q q 0 0 0 rg BT 453.04 257.10 Td (. Our hedging assets seek to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.10 Td (reduce the net economic sensitivity of our potential obligations from guaranteed benefits to equity market, interest rate, and foreign ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.10 Td (exchange fluctuations. Because of the accounting asymmetries between our economic tar) Tj ET Q q 0 0 0 rg BT 388.13 233.10 Td (gets and statutory and GAAP) Tj ET Q q 0 0 0 rg BT 504.96 233.10 Td ( accounting, rising ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.10 Td (equity markets, rising interest rates, or a strengthening of the U.S. dollar may result in statutory or GAAP) Tj ET Q q 0 0 0 rg BT 452.99 221.10 Td ( losses.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 203.10 Td (Concentration of our investment portfolio in any particular segment of the economy may have adverse ef) Tj ET Q q 0 0 0 rg BT 462.69 203.10 Td (fects on our business, ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 191.10 Td (financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 253.11 191.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 172.50 Td (The concentration of our investment portfolios in any particular industry) Tj ET Q q 0 0 0 rg BT 321.05 172.50 Td (, collateral type, group of related industries or geographic sector ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 160.50 Td (could have an adverse ef) Tj ET Q q 0 0 0 rg BT 130.16 160.50 Td (fect on our investment portfolios and consequently on our business, financial condition, results of operations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 148.50 Td (and liquidity) Tj ET Q q 0 0 0 rg BT 81.68 148.50 Td (. Events or developments that have a negative impact on any particular industry) Tj ET Q q 0 0 0 rg BT 399.54 148.50 Td (, group of related industries or geographic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 136.50 Td (region may have a greater adverse ef) Tj ET Q q 0 0 0 rg BT 178.46 136.50 Td (fect on our investment portfolio to the extent that the portfolio is concentrated rather than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 124.50 Td (diversified. ) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (16) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Risks Relating to Estimates, ) Tj ET Q q 0 0 0 rg BT 152.89 713.25 Td (Assumptions and ) Tj ET Q q 0 0 0 rg BT 228.85 713.25 Td (V) Tj ET Q q 0 0 0 rg BT 235.16 713.25 Td (aluations) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Actual results could materially dif) Tj ET Q q 0 0 0 rg BT 171.32 695.25 Td (fer from the analytical models we use to assist our decision making in key areas such as ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (underwriting, capital, hedging, reserving, and catastrophe risks, which could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 458.00 683.25 Td (fect on our business, ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (financial condition, results of operations or liquidity) Tj ET Q q 0 0 0 rg BT 246.44 671.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 653.25 Td (e employ various modeling techniques \(e.g., scenarios, predictive, stochastic and/or forecasting\) to analyze and estimate exposures, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (loss trends and other risks associated with our assets and liabilities. ) Tj ET Q q 0 0 0 rg BT 302.38 641.25 Td (W) Tj ET Q q 0 0 0 rg BT 311.02 641.25 Td (e use the modeled outputs and related analyses to assist us in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (decision-making related to underwriting, pricing, capital allocation, reserving, hedging, reinsurance, and catastrophe risk. Both ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (proprietary and third party models we use incorporate numerous assumptions and forecasts about the future level and variability of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (interest rates, capital requirements, loss frequency and severity) Tj ET Q q 0 0 0 rg BT 282.14 605.25 Td (, currency exchange rates, policyholder behavior) Tj ET Q q 0 0 0 rg BT 476.38 605.25 Td (, equity markets and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (inflation, among others. ) Tj ET Q q 0 0 0 rg BT 129.36 593.25 Td (The modeled outputs and related analyses are subject to the inherent limitations of any statistical analysis, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (including the use of historical internal and industry data and assumptions, which may be stale, incomplete or erroneous. Consequently) Tj ET Q q 0 0 0 rg BT 567.12 581.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (actual results may dif) Tj ET Q q 0 0 0 rg BT 117.13 569.25 Td (fer materially from our modeled results. ) Tj ET Q q 0 0 0 rg BT 279.39 569.25 Td (The profitability and financial condition of the Company substantially ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (depends on the extent to which our actual experience is consistent with assumptions we use in our models and ultimate model outputs. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (If, based upon these models or other factors, we misprice our products or our estimates of the risks we are exposed to prove to be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (materially inaccurate, our business, financial condition, results of operations or liquidity may be adversely af) Tj ET Q q 0 0 0 rg BT 466.47 533.25 Td (fected.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (Our valuations of many of our financial instruments include methodologies, estimations and assumptions that are subject to ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (dif) Tj ET Q q 0 0 0 rg BT 42.43 503.25 Td (fering interpretations and could result in changes to investment valuations that may materially adversely af) Tj ET Q q 0 0 0 rg BT 483.38 503.25 Td (fect our business, ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (results of operations, financial condition and liquidity) Tj ET Q q 0 0 0 rg BT 253.11 491.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 472.65 Td (The following financial instruments are carried at fair value in the Company's consolidated financial statements: fixed maturities, equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 460.65 Td (securities, freestanding and embedded derivatives, certain hedge fund investments, and separate account assets. ) Tj ET Q q 0 0 0 rg BT 479.21 460.65 Td (The determination of fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 448.65 Td (values is made at a specific point in time, based on available market information and judgments about financial instruments, including ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 436.65 Td (estimates of the timing and amounts of expected future cash flows and the credit standing of the issuer or counterparty) Tj ET Q q 0 0 0 rg BT 504.32 436.65 Td (. ) Tj ET Q q 0 0 0 rg BT 509.14 436.65 Td (The use of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 424.65 Td (dif) Tj ET Q q 0 0 0 rg BT 42.43 424.65 Td (ferent methodologies and assumptions may have a material ef) Tj ET Q q 0 0 0 rg BT 289.39 424.65 Td (fect on the estimated fair value amounts.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 406.05 Td (During periods of market disruption, including periods of significantly increasing/decreasing interest rates, rapidly widening/narrowing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 394.05 Td (credit spreads or illiquidity) Tj ET Q q 0 0 0 rg BT 138.88 394.05 Td (, it may be dif) Tj ET Q q 0 0 0 rg BT 194.52 394.05 Td (ficult to value certain of our securities if trading becomes less frequent and/or market data ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 382.05 Td (becomes less observable. ) Tj ET Q q 0 0 0 rg BT 134.62 382.05 Td (There may be certain asset classes that were in active markets with significant observable data that become ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 370.05 Td (illiquid due to the financial environment. In such cases, securities may require more subjectivity and management judgment in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 358.05 Td (determining their fair values and those fair values may dif) Tj ET Q q 0 0 0 rg BT 263.18 358.05 Td (fer materially from the value at which the investments may be ultimately sold. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 346.05 Td (Further) Tj ET Q q 0 0 0 rg BT 60.54 346.05 Td (, rapidly changing or unprecedented credit and equity market conditions could materially impact the valuation of securities and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 334.05 Td (the period-to-period changes in value could vary significantly) Tj ET Q q 0 0 0 rg BT 277.72 334.05 Td (. Decreases in value could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 489.09 334.05 Td (fect on our business, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 322.05 Td (results of operations, financial condition and liquidity) Tj ET Q q 0 0 0 rg BT 245.53 322.05 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 303.45 Td (Evaluation of available-for-sale securities for other-than-temporary impairment involves subjective determinations and could ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 291.45 Td (materially impact our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 384.51 291.45 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 272.85 Td (The evaluation of impairments is a quantitative and qualitative process, which is subject to risks and uncertainties and is intended to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 260.85 Td (determine whether a credit and/or non-credit impairment exists and whether an impairment should be recognized in current period ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 248.85 Td (earnings or in other comprehensive income. ) Tj ET Q q 0 0 0 rg BT 209.32 248.85 Td (The risks and uncertainties include changes in general economic conditions, the issuer's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 236.85 Td (financial condition or future recovery prospects, the ef) Tj ET Q q 0 0 0 rg BT 249.01 236.85 Td (fects of changes in interest rates or credit spreads and the expected recovery ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 224.85 Td (period. For securitized financial assets with contractual cash flows, the Company currently uses its best estimate of cash flows over the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 212.85 Td (life of the security) Tj ET Q q 0 0 0 rg BT 103.88 212.85 Td (. In addition, estimating future cash flows involves incorporating information received from third-party sources and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 200.85 Td (making internal assumptions and judgments regarding the future performance of the underlying collateral and assessing the probability ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 188.85 Td (that an adverse change in future cash flows has occurred. ) Tj ET Q q 0 0 0 rg BT 262.06 188.85 Td (The determination of the amount of other) Tj ET Q q 0 0 0 rg BT 427.36 188.85 Td (-than-temporary impairments is based ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 176.85 Td (upon our quarterly evaluation and assessment of known and inherent risks associated with the respective asset class. Such evaluations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 164.85 Td (and assessments are revised as conditions change and new information becomes available.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 146.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 81.40 146.25 Td (, our management considers a wide range of factors about the security issuer and uses their best judgment in evaluating the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 134.25 Td (cause of the decline in the estimated fair value of the security and in assessing the prospects for recovery) Tj ET Q q 0 0 0 rg BT 449.59 134.25 Td (. Inherent in management's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 122.25 Td (evaluation of the security are assumptions and estimates about the operations of the issuer and its future earnings potential.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 104.25 Td (Impairment losses in earnings could materially adversely af) Tj ET Q q 0 0 0 rg BT 269.85 104.25 Td (fect our results of operations and financial condition.) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (17) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (If assumptions used in estimating future gross profits dif) Tj ET Q q 0 0 0 rg BT 264.70 713.25 Td (fer from actual experience, we may be required to accelerate the ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 701.25 Td (amortization of DAC and increase reserves for guaranteed minimum death and income benefits, which could have a material ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 689.25 Td (adverse ef) Tj ET Q q 0 0 0 rg BT 72.69 689.25 Td (fect on our results of operations and financial condition. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (The Company deferred acquisition costs associated with the prior sales of its variable annuity products. ) Tj ET Q q 0 0 0 rg BT 447.32 671.25 Td (While deferred acquisition costs ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (related to the Japan block of business were written of) Tj ET Q q 0 0 0 rg BT 244.31 659.25 Td (f in the first quarter of 2013 when the Company executed on its hedging strategy) Tj ET Q q 0 0 0 rg BT 566.35 659.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (deferred acquisition costs for the U.S. block are amortized over the expected life of the contracts. ) Tj ET Q q 0 0 0 rg BT 422.55 647.25 Td (The remaining deferred but not yet ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (amortized cost is referred to as the Deferred ) Tj ET Q q 0 0 0 rg BT 209.20 635.25 Td (Acquisition Cost \(DAC\) asset. ) Tj ET Q q 0 0 0 rg BT 342.61 635.25 Td (W) Tj ET Q q 0 0 0 rg BT 351.25 635.25 Td (e amortize these costs in proportion to the present value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (of estimated gross profits \(EGPs\). ) Tj ET Q q 0 0 0 rg BT 178.51 623.25 Td (The Company evaluates the EGPs compared to the DAC asset to determine if an impairment exists. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (The Company also establishes reserves for GMDB and guaranteed minimum income benefit \("GMIB"\) using components of EGPs. ) Tj ET Q q 0 0 0 rg BT 561.05 611.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (projection of EGPs, or components of EGPs, requires the use of certain assumptions, principally related to separate account fund returns, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (surrender and lapse rates, interest mar) Tj ET Q q 0 0 0 rg BT 182.92 587.25 Td (gin \(including impairments\), mortality) Tj ET Q q 0 0 0 rg BT 336.13 587.25 Td (, benefit utilization, annuitization and hedging costs. Of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (these factors, we anticipate that changes in investment returns are most likely to impact the rate of amortization of such costs. However) Tj ET Q q 0 0 0 rg BT 572.31 575.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (other factors such as those the Company might employ to reduce risk, such as the cost of hedging or other risk mitigating techniques, as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (well as the ef) Tj ET Q q 0 0 0 rg BT 84.35 551.25 Td (fect of increased surrenders, could also significantly reduce estimates of future gross profits. Estimating future gross profits ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (is a complex process requiring considerable judgment and the forecasting of events well into the future. If our assumptions regarding ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (policyholder behavior) Tj ET Q q 0 0 0 rg BT 119.13 527.25 Td (, including lapse rates, benefit utilization, surrenders, and annuitization, hedging costs or costs to employ other risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (mitigating techniques prove to be inaccurate or if significant or sustained equity market declines occur) Tj ET Q q 0 0 0 rg BT 440.96 515.25 Td (, we could be required to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (accelerate the amortization of DAC related to variable annuity contracts, and increase reserves for GMDB and GMIB, which would ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (result in a char) Tj ET Q q 0 0 0 rg BT 90.46 491.25 Td (ge to net income. Such adjustments could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 363.52 491.25 Td (fect on our results of operations and financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (condition.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (If our businesses do not perform well, we may be required to establish a valuation allowance against the deferred income tax asset or ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (to recognize an impairment of our goodwill, which could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 375.21 449.25 Td (fect on our results of operations and financial ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (condition. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 418.65 Td (Deferred income tax represents the tax ef) Tj ET Q q 0 0 0 rg BT 196.24 418.65 Td (fect of the dif) Tj ET Q q 0 0 0 rg BT 250.20 418.65 Td (ferences between the book and tax basis of assets and liabilities. Deferred tax ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 406.65 Td (assets are assessed periodically by management to determine if they are realizable. Factors in management's determination include the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 394.65 Td (performance of the business including the ability to generate capital gains, to of) Tj ET Q q 0 0 0 rg BT 349.83 394.65 Td (fset previously recognized capital losses, from a variety ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 382.65 Td (of sources and tax planning strategies. If based on available information, it is more likely than not that we are unable to recognize a full ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 370.65 Td (tax benefit on realized capital losses, then a valuation allowance will be established with a corresponding char) Tj ET Q q 0 0 0 rg BT 471.44 370.65 Td (ge to net income \(loss\). ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 358.65 Td (Char) Tj ET Q q 0 0 0 rg BT 50.76 358.65 Td (ges to increase our valuation allowance could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 339.61 358.65 Td (fect on our results of operations and financial condition.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 340.05 Td (Goodwill represents the excess of the amounts we paid to acquire subsidiaries and other businesses over the fair value of their net assets ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 328.05 Td (at the date of acquisition. ) Tj ET Q q 0 0 0 rg BT 134.62 328.05 Td (W) Tj ET Q q 0 0 0 rg BT 143.26 328.05 Td (e test goodwill at least annually for impairment. Impairment testing is performed based upon estimates of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 316.05 Td (fair value of the reporting unit to which the goodwill relates. ) Tj ET Q q 0 0 0 rg BT 284.57 316.05 Td (The reporting unit is the operating segment or a business one level below ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 304.05 Td (that operating segment if discrete financial information is prepared and regularly reviewed by management at that level. ) Tj ET Q q 0 0 0 rg BT 513.36 304.05 Td (The fair value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 292.05 Td (the reporting unit is impacted by the performance of the business and could be adversely impacted by any ef) Tj ET Q q 0 0 0 rg BT 464.51 292.05 Td (forts made by the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 280.05 Td (to limit risk. If it is determined that the goodwill has been impaired, the Company must write down the goodwill by the amount of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 268.05 Td (impairment, with a corresponding char) Tj ET Q q 0 0 0 rg BT 186.55 268.05 Td (ge to net income \(loss\). ) Tj ET Q q 0 0 0 rg BT 282.46 268.05 Td (These write downs could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 489.41 268.05 Td (fect on our results of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 256.05 Td (operations or financial condition.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 237.45 Td (It is dif) Tj ET Q q 0 0 0 rg BT 60.77 237.45 Td (ficult for us to predict our potential exposure for asbestos and environmental claims, and our ultimate liability may exceed ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 225.45 Td (our currently recorded reserves, which may have a material adverse ef) Tj ET Q q 0 0 0 rg BT 320.45 225.45 Td (fect on our business, financial condition, results of operations ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 213.45 Td (and liquidity) Tj ET Q q 0 0 0 rg BT 83.08 213.45 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 194.85 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 194.85 Td (e continue to receive asbestos and environmental claims. Significant uncertainty limits the ability of insurers and reinsurers to estimate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 182.85 Td (the ultimate reserves necessary for unpaid losses and related expenses for both environmental and particularly asbestos claims. For some ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 170.85 Td (asbestos and environmental claims, we believe that the actuarial tools and other techniques we employ to estimate the ultimate cost of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 158.85 Td (claims for more traditional kinds of insurance exposure are less precise in estimating reserves for our asbestos and environmental ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 146.85 Td (exposures. ) Tj ET Q q 0 0 0 rg BT 75.94 146.85 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 125.27 146.85 Td (, the degree of variability of reserve estimates for these longer) Tj ET Q q 0 0 0 rg BT 373.03 146.85 Td (-tailed exposures is significantly greater than for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 134.85 Td (other more traditional exposures. It is also not possible to predict changes in the legal and legislative environment and their ef) Tj ET Q q 0 0 0 rg BT 534.23 134.85 Td (fect on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 122.85 Td (future development of asbestos and environmental claims. Because of the significant uncertainties that limit the ability of insurers and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 110.85 Td (reinsurers to estimate the ultimate reserves necessary for unpaid losses and related expenses for both environmental and particularly ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 98.85 Td (asbestos claims, the ultimate liabilities may exceed the currently recorded reserves. Increases in reserves would be recognized as an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 86.85 Td (expense during the periods in which these determinations are made, thereby adversely af) Tj ET Q q 0 0 0 rg BT 385.91 86.85 Td (fecting our results of operations for the related ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 74.85 Td (periods. ) Tj ET Q q 0 0 0 rg BT 65.39 74.85 Td (Any such additional liability cannot be reasonably estimated now) Tj ET Q q 0 0 0 rg BT 326.34 74.85 Td (, but could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 475.53 74.85 Td (fect on our business, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 62.85 Td (financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 245.53 62.85 Td (.) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Financial Str) Tj ET Q q 0 0 0 rg BT 87.15 713.25 Td (ength, Cr) Tj ET Q q 0 0 0 rg BT 127.53 713.25 Td (edit and Counterparty Risks ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The amount of statutory capital that we have, and the amount of statutory capital that we must hold to maintain our financial ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (strength and credit ratings and meet other requirements, can vary significantly from time to time and is sensitive to a number of ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (factors outside of our control, including equity market, credit market, interest rate and foreign currency conditions, changes in ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (policyholder behavior) Tj ET Q q 0 0 0 rg BT 120.66 659.25 Td (, changes in rating agency models, and changes in regulations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 640.65 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 640.65 Td (e conduct the vast majority of our business through licensed insurance company subsidiaries. ) Tj ET Q q 0 0 0 rg BT 414.50 640.65 Td (Accounting standards and statutory ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 628.65 Td (capital and reserve requirements for these entities are prescribed by the applicable insurance regulators and the National ) Tj ET Q q 0 0 0 rg BT 513.24 628.65 Td (Association of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 616.65 Td (Insurance Commissioners \(NAIC\). Insurance regulators have established regulations that provide minimum capitalization ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 604.65 Td (requirements based on risk-based capital \(RBC\) formulas for both life and property and casualty companies. ) Tj ET Q q 0 0 0 rg BT 476.18 604.65 Td (The RBC formula for life ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 592.65 Td (companies establishes capital requirements relating to insurance, business, asset and interest rate risks, including equity) Tj ET Q q 0 0 0 rg BT 508.78 592.65 Td (, interest rate and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 580.65 Td (expense recovery risks associated with variable annuities and group annuities that contain death benefits or certain living benefits. ) Tj ET Q q 0 0 0 rg BT 554.21 580.65 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 568.65 Td (RBC formula for property and casualty companies adjusts statutory surplus levels for certain underwriting, asset, credit and of) Tj ET Q q 0 0 0 rg BT 536.47 568.65 Td (f-balance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 556.65 Td (sheet risks. Our international operations are subject to regulation in the relevant jurisdiction in which they operate, which in many ways ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 544.65 Td (is similar to the state regulation outlined above, with similar related restrictions and obligations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 526.05 Td (In any particular year) Tj ET Q q 0 0 0 rg BT 116.89 526.05 Td (, statutory surplus amounts and RBC ratios may increase or decrease depending on a variety of factors, including ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 514.05 Td (the amount of statutory income or losses generated by our insurance subsidiaries \(which itself is sensitive to equity market and credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 502.05 Td (market conditions\), the amount of additional capital our insurance subsidiaries must hold to support business growth, changes in equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 490.05 Td (market levels, the value of certain fixed-income and equity securities in our investment portfolio, the value of certain derivative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 478.05 Td (instruments, changes in interest rates and foreign currency exchange rates, the impact of internal reinsurance arrangements, and changes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 466.05 Td (to the NAIC RBC formulas. Most of these factors are outside of the Company's control. ) Tj ET Q q 0 0 0 rg BT 385.01 466.05 Td (The Company's financial strength and credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 454.05 Td (ratings are significantly influenced by the statutory surplus amounts and RBC ratios of our insurance company subsidiaries. In addition, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 442.05 Td (rating agencies may implement changes to their internal models that have the ef) Tj ET Q q 0 0 0 rg BT 350.65 442.05 Td (fect of increasing the amount of statutory capital we ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 430.05 Td (must hold in order to maintain our current ratings. ) Tj ET Q q 0 0 0 rg BT 233.68 430.05 Td (Also, in extreme scenarios of equity market declines and other capital market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 418.05 Td (volatility) Tj ET Q q 0 0 0 rg BT 66.96 418.05 Td (, the amount of additional statutory reserves that we are required to hold for our variable annuity guarantees increases at a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 406.05 Td (greater than linear rate. ) Tj ET Q q 0 0 0 rg BT 126.54 406.05 Td (This reduces the statutory surplus used in calculating our RBC ratios. ) Tj ET Q q 0 0 0 rg BT 406.31 406.05 Td (When equity markets increase, surplus ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 394.05 Td (levels and RBC ratios would generally be expected to increase. However) Tj ET Q q 0 0 0 rg BT 322.95 394.05 Td (, as a result of a number of factors and market conditions, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 382.05 Td (including the level of hedging costs and other risk transfer activities, reserve requirements for death and living benefit guarantees and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 370.05 Td (increases in RBC requirements, surplus and RBC ratios may not increase when equity markets increase. Due to these factors, projecting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 358.05 Td (statutory capital and the related RBC ratios is complex. If our statutory capital resources are insuf) Tj ET Q q 0 0 0 rg BT 421.75 358.05 Td (ficient to maintain a particular rating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 346.05 Td (by one or more rating agencies, we may seek to raise capital through public or private equity or debt financing. If we were not to raise ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 334.05 Td (additional capital, either at our discretion or because we were unable to do so, our financial strength and credit ratings might be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 322.05 Td (downgraded by one or more rating agencies.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 303.45 Td (Downgrades in our financial strength or credit ratings, which may make our products less attractive, could increase our cost of ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 291.45 Td (capital and inhibit our ability to refinance our debt, which would have a material adverse ef) Tj ET Q q 0 0 0 rg BT 408.55 291.45 Td (fect on our business, financial condition, ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 279.45 Td (results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 169.48 279.45 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 260.85 Td (Financial strength and credit ratings are important in establishing the competitive position of insurance companies. Rating agencies ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 248.85 Td (assign ratings based upon several factors. ) Tj ET Q q 0 0 0 rg BT 199.33 248.85 Td (While most of the factors relate to the rated company) Tj ET Q q 0 0 0 rg BT 411.65 248.85 Td (, some of the factors relate to the views of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 236.85 Td (the rating agency \(including its assessment of the strategic importance of the rated company to the insurance group\), general economic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 224.85 Td (conditions, and circumstances outside the rated company's control. In addition, rating agencies may employ dif) Tj ET Q q 0 0 0 rg BT 475.50 224.85 Td (ferent models and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 212.85 Td (formulas to assess the financial strength of a rated company) Tj ET Q q 0 0 0 rg BT 269.94 212.85 Td (, and from time to time rating agencies have, at their discretion, altered these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 200.85 Td (models. Changes to the models, general economic conditions, or circumstances outside our control could impact a rating agency's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 188.85 Td (judgment of its rating and the rating it assigns us. ) Tj ET Q q 0 0 0 rg BT 231.02 188.85 Td (W) Tj ET Q q 0 0 0 rg BT 239.65 188.85 Td (e cannot predict what actions rating agencies may take, or what actions we may take ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 176.85 Td (in response to the actions of rating agencies, which may adversely af) Tj ET Q q 0 0 0 rg BT 306.23 176.85 Td (fect us.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 158.25 Td (Our financial strength ratings, which are intended to measure our ability to meet policyholder obligations, are an important factor ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 146.25 Td (af) Tj ET Q q 0 0 0 rg BT 39.09 146.25 Td (fecting public confidence in most of our products and, as a result, our competitiveness. ) Tj ET Q q 0 0 0 rg BT 388.17 146.25 Td (A) Tj ET Q q 0 0 0 rg BT 394.83 146.25 Td ( downgrade or a potential downgrade in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 134.25 Td (rating of our financial strength or of one of our principal insurance subsidiaries could af) Tj ET Q q 0 0 0 rg BT 382.32 134.25 Td (fect our competitive position and reduce future ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 122.25 Td (sales of our products.) Tj ET Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Our credit ratings also af) Tj ET Q q 0 0 0 rg BT 130.73 713.10 Td (fect our cost of capital. ) Tj ET Q q 0 0 0 rg BT 224.58 713.10 Td (A) Tj ET Q q 0 0 0 rg BT 231.25 713.10 Td ( downgrade or a potential downgrade of our credit ratings could make it more dif) Tj ET Q q 0 0 0 rg BT 555.41 713.10 Td (ficult ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (or costly to refinance maturing debt obligations, to support business growth at our insurance subsidiaries and to maintain or improve the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (financial strength ratings of our principal insurance subsidiaries. Downgrades could begin to trigger potentially material collateral calls ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (on certain of our derivative instruments and counterparty rights to terminate derivative relationships, both of which could limit our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (ability to purchase additional derivative instruments. ) Tj ET Q q 0 0 0 rg BT 244.32 665.10 Td (These events could materially adversely af) Tj ET Q q 0 0 0 rg BT 414.90 665.10 Td (fect our business, financial condition, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 165.27 653.10 Td (. For a further discussion of potential impacts of ratings downgrades on derivative instruments, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (including potential collateral calls, see the "Capital Resources and Liquidity - Derivative Commitments" section of Item 7. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (Management's Discussion and ) Tj ET Q q 0 0 0 rg BT 154.67 629.10 Td (Analysis of Financial Condition and Results of Operations.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 610.50 Td (Losses due to nonperformance or defaults by others, including issuers of investment securities mortgage loans or reinsurance and ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 598.50 Td (derivative instrument counterparties, could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 318.79 598.50 Td (fect on the value of our investments, business, financial ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 586.50 Td (condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 213.38 586.50 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 567.90 Td (Issuers or borrowers whose securities or loans we hold, customers, trading counterparties, counterparties under swaps and other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 555.90 Td (derivative contracts, reinsurers, clearing agents, exchanges, clearing houses and other financial intermediaries and guarantors may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 543.90 Td (default on their obligations to us due to bankruptcy) Tj ET Q q 0 0 0 rg BT 235.25 543.90 Td (, insolvency) Tj ET Q q 0 0 0 rg BT 282.93 543.90 Td (, lack of liquidity) Tj ET Q q 0 0 0 rg BT 351.16 543.90 Td (, adverse economic conditions, operational failure, fraud, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 531.90 Td (government intervention or other reasons. Such defaults could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 387.02 531.90 Td (fect on the value of our investments, business, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 519.90 Td (financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 245.53 519.90 Td (. ) Tj ET Q q 0 0 0 rg BT 249.98 519.90 Td (Additionally) Tj ET Q q 0 0 0 rg BT 299.88 519.90 Td (, the underlying assets supporting our structured securities or loans ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 507.90 Td (may deteriorate causing these securities or loans to incur losses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 489.30 Td (Our investment portfolio includes securities backed by real estate assets, the value of which may be adversely impacted if conditions in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 477.30 Td (the real estate market significantly deteriorate, including declines in property values and increases in vacancy rates, delinquencies and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 465.30 Td (foreclosures, ultimately resulting in a reduction in expected future cash flows for certain securities. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 446.70 Td (The Company also has exposure to foreign-based issuers of securities and providers of reinsurance, as well as indirect European ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 434.70 Td (exposure resulting from the variable annuity products that it has sold in Japan. ) Tj ET Q q 0 0 0 rg BT 346.80 434.70 Td (These foreign issuers include European issuers as well as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 422.70 Td (certain emer) Tj ET Q q 0 0 0 rg BT 81.01 422.70 Td (ging market issuers. Despite the recent stabilization in the European market, there are still fundamental structural issues that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 410.70 Td (remain and may result in the re-emer) Tj ET Q q 0 0 0 rg BT 179.03 410.70 Td (gence of fiscal and economic issues. In addition, there has been recent volatility within certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 398.70 Td (emer) Tj ET Q q 0 0 0 rg BT 51.30 398.70 Td (ging market countries spurred by concerns over the U.S. Federal Reserve tapering its monetary stimulus, an economic slowdown in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 386.70 Td (China, and the devaluation of certain currencies. Further details of the European and certain emer) Tj ET Q q 0 0 0 rg BT 421.16 386.70 Td (ging market private and sovereign ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 374.70 Td (issuers held within the investment portfolio and indirect variable annuity exposures can be found in PartII, Item7, MD&A) Tj ET Q q 0 0 0 rg BT 523.34 374.70 Td ( - Enterprise ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 362.70 Td (Risk Management - Investment Portfolio Risks and Risk Management. ) Tj ET Q q 0 0 0 rg BT 317.39 362.70 Td (The Company's European based reinsurance arrangements are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 350.70 Td (further described in PartII, Item7, MD&A) Tj ET Q q 0 0 0 rg BT 203.96 350.70 Td ( - Enterprise Risk Management - Investment Portfolio Risks and Risk Management.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 332.10 Td (Property value declines and loss rates that exceed our current estimates, as outlined in PartII, Item7, MD&A) Tj ET Q q 0 0 0 rg BT 468.88 332.10 Td ( - Enterprise Risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 320.10 Td (Management - Other) Tj ET Q q 0 0 0 rg BT 114.60 320.10 Td (-Than-T) Tj ET Q q 0 0 0 rg BT 147.22 320.10 Td (emporary Impairments, or a worsening of global economic conditions could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 558.28 320.10 Td (fect ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 308.10 Td (on our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 312.75 308.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 289.50 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 289.50 Td (o the extent the investment portfolio is not adequately diversified, concentrations of credit risk may exist which could negatively ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 277.50 Td (impact the Company if significant adverse events or developments occur in any particular industry) Tj ET Q q 0 0 0 rg BT 425.46 277.50 Td (, group of related industries or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 265.50 Td (geographic regions. ) Tj ET Q q 0 0 0 rg BT 112.68 265.50 Td (The Company) Tj ET Q q 0 0 0 rg BT 172.39 265.50 Td (s investment portfolio is not exposed to any credit concentration risk of a single issuer greater than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 253.50 Td (10% of the Company's stockholders' equity other than U.S. government and U.S. government agencies backed by the full faith and credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 241.50 Td (of the U.S. government, and the Government of Japan. However) Tj ET Q q 0 0 0 rg BT 289.08 241.50 Td (, if issuers of securities or loans we hold are acquired, mer) Tj ET Q q 0 0 0 rg BT 521.88 241.50 Td (ge or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 229.50 Td (otherwise consolidate with other issuers of securities or loans held by the Company) Tj ET Q q 0 0 0 rg BT 364.67 229.50 Td (, our investment portfolio) Tj ET Q q 0 0 0 rg BT 469.65 229.50 Td (s credit concentration risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 217.50 Td (to issuers could increase above the 10% threshold, for a period of time, until the Company is able to sell securities to get back in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 205.50 Td (compliance with the established investment credit policies. For discussion of the Company) Tj ET Q q 0 0 0 rg BT 397.54 205.50 Td (s exposure to credit concentration risk of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 193.50 Td (reinsurers, see the risk factor) Tj ET Q q 0 0 0 rg BT 146.33 193.50 Td (, W) Tj ET Q q 0 0 0 rg BT 164.41 193.50 Td (e may incur losses due to our reinsurers' unwillingness or inability to meet their obligations under ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 181.50 Td (reinsurance contracts and the availability) Tj ET Q q 0 0 0 rg BT 194.67 181.50 Td (, pricing and adequacy of reinsurance may not be suf) Tj ET Q q 0 0 0 rg BT 406.08 181.50 Td (ficient to protect us against losses.) Tj ET Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (20) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 701.25 Td (W) Tj ET Q q 0 0 0 rg BT 39.65 701.25 Td (e may incur losses due to our reinsurers' unwillingness or inability to meet their obligations under reinsurance contracts and the ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 689.25 Td (availability) Tj ET Q q 0 0 0 rg BT 76.68 689.25 Td (, pricing and adequacy of reinsurance may not be suf) Tj ET Q q 0 0 0 rg BT 295.94 689.25 Td (ficient to protect us against losses. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (As an insurer) Tj ET Q q 0 0 0 rg BT 84.42 671.25 Td (, we frequently use reinsurance to reduce the ef) Tj ET Q q 0 0 0 rg BT 273.32 671.25 Td (fect of losses that may arise from catastrophes, transfer other risks that can ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (cause unfavorable results of operations, or ef) Tj ET Q q 0 0 0 rg BT 210.97 659.25 Td (fect the sale of one line of business to an independent company) Tj ET Q q 0 0 0 rg BT 463.30 659.25 Td (. Under these reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (arrangements, other insurers assume a portion of our losses and related expenses; however) Tj ET Q q 0 0 0 rg BT 392.93 647.25 Td (, we remain liable as the direct insurer on all ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (risks reinsured. Consequently) Tj ET Q q 0 0 0 rg BT 149.44 635.25 Td (, ceded reinsurance arrangements do not eliminate our obligation to pay claims, and we are subject to our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (reinsurers' credit risk with respect to our ability to recover amounts due from them. ) Tj ET Q q 0 0 0 rg BT 365.71 623.25 Td (Although we regularly evaluate the financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (condition of our reinsurers to minimize our exposure to significant losses from reinsurer insolvencies, our reinsurers may become ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (financially unsound or dispute their contractual obligations. ) Tj ET Q q 0 0 0 rg BT 272.37 599.25 Td (The inability or unwillingness of any reinsurer to meet its financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (obligations to us could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 229.03 587.25 Td (fect on our results of operations. ) Tj ET Q q 0 0 0 rg BT 360.76 587.25 Td (This risk may be magnified by a concentration of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (reinsurance-related credit risk resulting from the sale of the Company) Tj ET Q q 0 0 0 rg BT 312.79 575.25 Td (s Individual Life business. Further details of such concentration ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (can be found in Part II, Item 7, MD&A) Tj ET Q q 0 0 0 rg BT 187.58 563.25 Td ( - Reinsurance as a Risk Management Strategy - Life Insurance Product Reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (Recoverable. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (In addition, market conditions beyond our control determine the availability and cost of the reinsurance we are able to purchase. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (Reinsurance pricing changes significantly over time, and no assurances can be made that reinsurance will remain continuously available ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (to us to the same extent and on the same terms as are currently available. If we were unable to maintain our current level of reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.25 Td (or purchase new reinsurance protection in amounts that we consider suf) Tj ET Q q 0 0 0 rg BT 317.89 497.25 Td (ficient and at prices that we consider acceptable, we would have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.25 Td (to either accept an increase in our net liability exposure, reduce the amount of business we write, or develop to the extent possible other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (alternatives to reinsurance. Further) Tj ET Q q 0 0 0 rg BT 170.49 473.25 Td (, due to the inherent uncertainties as to collection and the length of time before reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (recoverables will be due, it is possible that future adjustments to the Company) Tj ET Q q 0 0 0 rg BT 347.27 461.25 Td (s reinsurance recoverables, net of the allowance, could be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (required, which could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 225.67 449.25 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 312.04 449.25 Td (s consolidated results of operations or cash flows in a particular ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (quarterly or annual period.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (Our ability to declare and pay dividends is subject to limitations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (The payment of future dividends on our capital stock is subject to the discretion of our board of directors, which considers, among other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (factors, our operating results, overall financial condition, credit-risk considerations and capital requirements, as well as general business ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.25 Td (and market conditions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.25 Td (Moreover) Tj ET Q q 0 0 0 rg BT 70.53 359.25 Td (, as a holding company that is separate and distinct from our insurance subsidiaries, we have no significant business operations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (of our own. ) Tj ET Q q 0 0 0 rg BT 80.20 347.25 Td (Therefore, we rely on dividends from our insurance company subsidiaries and other subsidiaries as the principal source of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (cash flow to meet our obligations. ) Tj ET Q q 0 0 0 rg BT 169.90 335.25 Td (These obligations include payments on our debt securities and the payment of dividends on our capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.25 Td (stock. ) Tj ET Q q 0 0 0 rg BT 57.43 323.25 Td (The Connecticut insurance holding company laws limit the payment of dividends by Connecticut-domiciled insurers and require ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.25 Td (notice to and approval by the state insurance commissioner for the declaration or payment of dividends above certain levels. ) Tj ET Q q 0 0 0 rg BT 530.60 311.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.25 Td (insurance holding company laws of the other jurisdictions in which our insurance subsidiaries are incorporated, or deemed commercially ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.25 Td (domiciled, including foreign jurisdictions with respect to our international operations, generally contain similar) Tj ET Q q 0 0 0 rg BT 475.99 287.25 Td (, and in some instances ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (more restrictive, limitations on the payment of dividends. Dividends paid to us by our insurance subsidiaries are further dependent on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.25 Td (their cash requirements. For further discussion on dividends from insurance subsidiaries, see PartII, Item7, MD&A) Tj ET Q q 0 0 0 rg BT 495.85 263.25 Td ( - Capital Resources ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.25 Td (& Liquidity) Tj ET Q q 0 0 0 rg BT 78.35 251.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (Our rights to participate in any distribution of the assets of any of our subsidiaries, for example, upon their liquidation or reor) Tj ET Q q 0 0 0 rg BT 532.59 233.25 Td (ganization, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.25 Td (and the ability of holders of our common stock to benefit indirectly from a distribution, are subject to the prior claims of creditors of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.25 Td (applicable subsidiary) Tj ET Q q 0 0 0 rg BT 115.55 209.25 Td (, except to the extent that we may be a creditor of that subsidiary) Tj ET Q q 0 0 0 rg BT 373.70 209.25 Td (. Holders of our capital stock are only entitled to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.25 Td (receive such dividends as our board of directors may declare out of funds legally available for such payments. Moreover) Tj ET Q q 0 0 0 rg BT 512.88 197.25 Td (, our common ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.25 Td (stockholders are subject to the prior dividend rights of any holders of our preferred stock or depositary shares representing such ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (preferred stock then outstanding. ) Tj ET Q q 0 0 0 rg BT 165.45 173.25 Td (The terms of our outstanding junior subordinated debt securities prohibit us from declaring or paying ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.25 Td (any dividends or distributions on our capital stock or purchasing, acquiring, or making a liquidation payment on such stock, if we have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.25 Td (given notice of our election to defer interest payments but the related deferral period has not yet commenced or a deferral period is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.25 Td (continuing.) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (21) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Insurance and Pr) Tj ET Q q 0 0 0 rg BT 105.77 713.25 Td (oduct-Related Risks ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Our business, financial condition, results of operations and liquidity may be materially adversely af) Tj ET Q q 0 0 0 rg BT 439.95 695.25 Td (fected by unfavorable loss ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (development. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 664.65 Td (Our success, in part, depends upon our ability to accurately assess the risks associated with the policyholders that we insure. ) Tj ET Q q 0 0 0 rg BT 530.36 664.65 Td (W) Tj ET Q q 0 0 0 rg BT 539.00 664.65 Td (e ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 652.65 Td (establish loss reserves to cover our estimated liability for the payment of all unpaid losses and loss expenses incurred with respect to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 640.65 Td (premiums earned on the policies that we write. Loss reserves do not represent an exact calculation of liability) Tj ET Q q 0 0 0 rg BT 467.93 640.65 Td (. Rather) Tj ET Q q 0 0 0 rg BT 499.18 640.65 Td (, loss reserves are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 628.65 Td (estimates of what we expect the ultimate settlement and administration of claims will cost, less what has been paid to date. ) Tj ET Q q 0 0 0 rg BT 524.24 628.65 Td (These ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 616.65 Td (estimates are based upon actuarial and statistical projections and on our assessment of currently available data, as well as estimates of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 604.65 Td (claims severity and frequency) Tj ET Q q 0 0 0 rg BT 150.52 604.65 Td (, legal theories of liability and other factors. Loss reserve estimates are refined periodically as experience ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 592.65 Td (develops and claims are reported and settled. Establishing an appropriate level of loss reserves is an inherently uncertain process. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 580.65 Td (Because of this uncertainty) Tj ET Q q 0 0 0 rg BT 139.42 580.65 Td (, it is possible that our reserves at any given time will prove inadequate. Furthermore, since estimates of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 568.65 Td (aggregate loss costs for prior accident years are used in pricing our insurance products, we could later determine that our products were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 556.65 Td (not priced adequately to cover actual losses and related loss expenses in order to generate a profit. ) Tj ET Q q 0 0 0 rg BT 425.62 556.65 Td (T) Tj ET Q q 0 0 0 rg BT 431.03 556.65 Td (o the extent we determine that losses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 544.65 Td (and related loss expenses are emer) Tj ET Q q 0 0 0 rg BT 169.31 544.65 Td (ging unfavorably to our initial expectations, we will be required to increase reserves. Increases in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 532.65 Td (reserves would be recognized as an expense during the period or periods in which these determinations are made, thereby adversely ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 520.65 Td (af) Tj ET Q q 0 0 0 rg BT 39.09 520.65 Td (fecting our results of operations for the related period or periods. Depending on the severity and timing of any changes in these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 508.65 Td (estimated losses, such determinations could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 312.89 508.65 Td (fect on our business, financial condition, results of operations or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 496.65 Td (liquidity) Tj ET Q q 0 0 0 rg BT 64.74 496.65 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 478.05 Td (W) Tj ET Q q 0 0 0 rg BT 39.65 478.05 Td (e are particularly vulnerable to losses from catastrophes, both natural and man-made, which could materially and adversely af) Tj ET Q q 0 0 0 rg BT 560.31 478.05 Td (fect ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 466.05 Td (our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 310.07 466.05 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 447.45 Td (Our insurance operations expose us to claims arising out of catastrophes. Catastrophes can be caused by various unpredictable natural ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 435.45 Td (events, including, among others, earthquakes, hurricanes, hailstorms, severe winter weather) Tj ET Q q 0 0 0 rg BT 397.37 435.45 Td (, wind storms, fires, tornadoes, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 423.45 Td (pandemics. Catastrophes can also be man-made, such as terrorist attacks, cyber) Tj ET Q q 0 0 0 rg BT 348.13 423.45 Td (-attacks, explosions or infrastructure failures. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 411.45 Td (The geographic distribution of our business subjects us to catastrophe exposure for events occurring in a number of areas, including, but ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 399.45 Td (not limited to, hurricanes in Florida, the Gulf Coast, the Northeast and the ) Tj ET Q q 0 0 0 rg BT 329.22 399.45 Td (Atlantic coast regions of the United States, tornadoes in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 387.45 Td (Midwest and Southeast, earthquakes in California and the New Madrid region of the United States, and the spread of disease in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 375.45 Td (metropolitan areas. ) Tj ET Q q 0 0 0 rg BT 110.46 375.45 Td (W) Tj ET Q q 0 0 0 rg BT 119.09 375.45 Td (e expect that increases in the values and concentrations of insured property in these areas will continue to increase ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 363.45 Td (the severity of catastrophic events in the future. ) Tj ET Q q 0 0 0 rg BT 223.75 363.45 Td (Third-party catastrophe loss models for hurricane loss events have incorporated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 351.45 Td (medium-term forecasts of increased hurricane frequency and severity - reflecting the potential influence of multi-decadal climate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 339.45 Td (patterns within the ) Tj ET Q q 0 0 0 rg BT 107.88 339.45 Td (Atlantic. In addition, changing climate conditions across longer time scales, including the potential risk of broader ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 327.45 Td (climate change, may be increasing, or may in the future increase, the severity of certain natural catastrophe losses across various ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 315.45 Td (geographic regions. In addition, changing climate conditions, primarily rising global temperatures, may be increasing, or may in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 303.45 Td (future increase, the frequency and severity of natural catastrophes and increase the potency of viral pathogens and bacterial outbreaks ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 291.45 Td (that can cause pandemics or adverse mortality trends. Potential examples of the impact of climate change on catastrophe exposure ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 279.45 Td (include, but are not limited to the following: an increase in the frequency or severity of wind and thunderstorm and tornado/hailstorm ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 267.45 Td (events due to increased convection in the atmosphere, more frequent brush fires in certain geographies due to prolonged periods of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 255.45 Td (drought, higher incidence of deluge flooding, and the potential for an increase in severity of the lar) Tj ET Q q 0 0 0 rg BT 426.18 255.45 Td (gest hurricane events due to higher ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 243.45 Td (sea surface temperatures. ) Tj ET Q q 0 0 0 rg BT 134.22 243.45 Td (Additionally) Tj ET Q q 0 0 0 rg BT 184.13 243.45 Td (, due to such catastrophes, policyholders may be unable to meet their obligations to pay premiums ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 231.45 Td (on our insurance policies.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 212.85 Td (Our liquidity could be constrained by a catastrophe, or multiple catastrophes, which could result in extraordinary losses. In addition, in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 200.85 Td (part because accounting rules do not permit insurers to reserve for such catastrophic events until they occur) Tj ET Q q 0 0 0 rg BT 460.40 200.85 Td (, claims from catastrophic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 188.85 Td (events could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 188.46 188.85 Td (fect on our business, financial condition, results of operations or liquidity) Tj ET Q q 0 0 0 rg BT 481.09 188.85 Td (. ) Tj ET Q q 0 0 0 rg BT 485.91 188.85 Td (T) Tj ET Q q 0 0 0 rg BT 491.32 188.85 Td (o the extent that loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 176.85 Td (experience unfolds or models improve, we will seek to reflect any of these changes in the design and pricing of our products. However) Tj ET Q q 0 0 0 rg BT 570.38 176.85 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 164.85 Td (the Company may be exposed to regulatory or legislative actions that prevent a full accounting of loss expectations in the design or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 152.85 Td (pricing of our products or result in additional risk-shifting to the insurance industry) Tj ET Q q 0 0 0 rg BT 363.57 152.85 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 134.25 Td (Our business, financial condition, results of operations and liquidity may be adversely af) Tj ET Q q 0 0 0 rg BT 395.79 134.25 Td (fected by the emergence of unexpected and ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 122.25 Td (unintended claim and coverage issues. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 103.65 Td (As industry practices and legal, judicial, social and other environmental conditions change, unexpected and unintended issues related to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 91.65 Td (claims and coverage may emer) Tj ET Q q 0 0 0 rg BT 155.15 91.65 Td (ge. ) Tj ET Q q 0 0 0 rg BT 169.41 91.65 Td (These issues may either extend coverage beyond our underwriting intent or increase the frequency or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 79.65 Td (severity of claims. In some instances, these changes may not become apparent until some time after we have issued insurance contracts ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 67.65 Td (that are af) Tj ET Q q 0 0 0 rg BT 71.29 67.65 Td (fected by the changes. ) Tj ET Q q 0 0 0 rg BT 162.09 67.65 Td (As a result, the full extent of liability under our insurance contracts may not be known for many years ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 55.65 Td (after a contract is issued, and this liability may have a material adverse ef) Tj ET Q q 0 0 0 rg BT 324.54 55.65 Td (fect on our business, financial condition, results of operations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 43.65 Td (and liquidity at the time it becomes known.) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (22) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (As a property and casualty insurer) Tj ET Q q 0 0 0 rg BT 172.91 713.25 Td (, the premium rates we are able to charge and the profits we are able to obtain are af) Tj ET Q q 0 0 0 rg BT 520.22 713.25 Td (fected by the ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 701.25 Td (actions of state insurance departments that regulate our business, the cyclical nature of the business in which we compete and our ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 689.25 Td (ability to adequately price the risks we underwrite, which may have a material adverse ef) Tj ET Q q 0 0 0 rg BT 395.46 689.25 Td (fect on our business, financial condition, ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 677.25 Td (results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 169.48 677.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 658.65 Td (Pricing adequacy depends on a number of factors, including the ability to obtain regulatory approval for rate changes, proper evaluation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 646.65 Td (of underwriting risks, the ability to project future loss cost frequency and severity based on historical loss experience adjusted for known ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 634.65 Td (trends, our response to rate actions taken by competitors, and expectations about regulatory and legal developments and expense levels. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 622.65 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 622.65 Td (e seek to price our property and casualty insurance policies such that insurance premiums and future net investment income earned on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 610.65 Td (premiums received will provide for an acceptable profit in excess of underwriting expenses and the cost of paying claims.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 592.05 Td (State insurance departments that regulate us often propose premium rate changes for the benefit of the consumer at the expense of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 580.05 Td (insurer and may not allow us to reach tar) Tj ET Q q 0 0 0 rg BT 194.60 580.05 Td (geted levels of profitability) Tj ET Q q 0 0 0 rg BT 302.53 580.05 Td (. In addition to regulating rates, certain states have enacted laws that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 568.05 Td (require a property and casualty insurer conducting business in that state to participate in assigned risk plans, reinsurance facilities, joint ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 556.05 Td (underwriting associations and other residual market plans, or to of) Tj ET Q q 0 0 0 rg BT 296.25 556.05 Td (fer coverage to all consumers and often restrict an insurer's ability to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 544.05 Td (char) Tj ET Q q 0 0 0 rg BT 48.53 544.05 Td (ge the price it might otherwise char) Tj ET Q q 0 0 0 rg BT 189.96 544.05 Td (ge or restrict an insurer's ability to of) Tj ET Q q 0 0 0 rg BT 337.37 544.05 Td (fer or enforce specific policy deductibles. In these markets, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 532.05 Td (we may be compelled to underwrite significant amounts of business at lower than desired rates or accept additional risk not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 520.05 Td (contemplated in our existing rates, participate in the operating losses of residual market plans or pay assessments to fund operating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 508.05 Td (deficits of state-sponsored funds, possibly leading to unacceptable returns on equity) Tj ET Q q 0 0 0 rg BT 366.05 508.05 Td (. ) Tj ET Q q 0 0 0 rg BT 370.87 508.05 Td (The laws and regulations of many states also limit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 496.05 Td (an insurer's ability to withdraw from one or more lines of insurance in the state, except pursuant to a plan that is approved by the state's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 484.05 Td (insurance department. ) Tj ET Q q 0 0 0 rg BT 121.74 484.05 Td (Additionally) Tj ET Q q 0 0 0 rg BT 171.65 484.05 Td (, certain states require insurers to participate in guaranty funds for impaired or insolvent insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 472.05 Td (companies. ) Tj ET Q q 0 0 0 rg BT 79.08 472.05 Td (These funds periodically assess losses against all insurance companies doing business in the state. ) Tj ET Q q 0 0 0 rg BT 472.61 472.05 Td (Any of these factors could ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 460.05 Td (have a material adverse ef) Tj ET Q q 0 0 0 rg BT 135.70 460.05 Td (fect on our business, financial condition, results of operations or liquidity) Tj ET Q q 0 0 0 rg BT 428.33 460.05 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 441.45 Td (Additionally) Tj ET Q q 0 0 0 rg BT 81.40 441.45 Td (, the property and casualty insurance market is historically cyclical, experiencing periods characterized by relatively high ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 429.45 Td (levels of price competition, less restrictive underwriting standards and relatively low premium rates, followed by periods of relatively ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 417.45 Td (low levels of competition, more selective underwriting standards and relatively high premium rates. Prices tend to increase for a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 405.45 Td (particular line of business when insurance carriers have incurred significant losses in that line of business in the recent past or when the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 393.45 Td (industry as a whole commits less of its capital to writing exposures in that line of business. Prices tend to decrease when recent loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 381.45 Td (experience has been favorable or when competition among insurance carriers increases. In all of our property and casualty insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 369.45 Td (product lines and states, there is a risk that the premium we char) Tj ET Q q 0 0 0 rg BT 288.18 369.45 Td (ge may ultimately prove to be inadequate as reported losses emer) Tj ET Q q 0 0 0 rg BT 549.02 369.45 Td (ge. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 357.45 Td (addition, there is a risk that regulatory constraints, price competition or incorrect pricing assumptions could prevent us from achieving ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 345.45 Td (tar) Tj ET Q q 0 0 0 rg BT 41.87 345.45 Td (geted returns. Inadequate pricing could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 304.89 345.45 Td (fect on our results of operations.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 326.85 Td (Our adjustment of our risk management program relating to products we of) Tj ET Q q 0 0 0 rg BT 343.31 326.85 Td (fered with guaranteed benefits to emphasize protection of ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 314.85 Td (economic value will likely result in greater statutory and U.S. GAAP) Tj ET Q q 0 0 0 rg BT 312.25 314.85 Td ( volatility in our earnings and potentially material charges to net ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 302.85 Td (income \(loss\). ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 284.25 Td (Some of the in-force business within our ) Tj ET Q q 0 0 0 rg BT 196.57 284.25 Td (T) Tj ET Q q 0 0 0 rg BT 201.98 284.25 Td (alcott Resolution operations, especially variable annuities, of) Tj ET Q q 0 0 0 rg BT 445.62 284.25 Td (fer guaranteed benefits which, in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 272.25 Td (the event of a decline in equity markets, would not only result in lower earnings, but will also increase our exposure to liability for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 260.25 Td (benefit claims. ) Tj ET Q q 0 0 0 rg BT 92.69 260.25 Td (W) Tj ET Q q 0 0 0 rg BT 101.32 260.25 Td (e are also subject to equity market volatility related to these benefits, including the guaranteed minimum withdrawal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 248.25 Td (GMWB, guaranteed minimum accumulation benefit \(GMAB\), guaranteed minimum death benefit \(GMDB\) and GMIB associated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 236.25 Td (with in-force variable annuities. ) Tj ET Q q 0 0 0 rg BT 161.55 236.25 Td (W) Tj ET Q q 0 0 0 rg BT 170.19 236.25 Td (e use reinsurance structures and have modified benefit features to mitigate the exposure associated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 224.25 Td (with GMDB. ) Tj ET Q q 0 0 0 rg BT 86.60 224.25 Td (W) Tj ET Q q 0 0 0 rg BT 95.24 224.25 Td (e also use reinsurance in combination with a modification of benefit features and derivative instruments to attempt to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 212.25 Td (minimize the claim exposure and to reduce the volatility of net income associated with the GMWB liability) Tj ET Q q 0 0 0 rg BT 460.73 212.25 Td (. However) Tj ET Q q 0 0 0 rg BT 501.98 212.25 Td (, due to the severe ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 200.25 Td (economic conditions experienced in recent years, we adjusted our risk management program to place greater relative emphasis on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 188.25 Td (protection of economic value. ) Tj ET Q q 0 0 0 rg BT 153.22 188.25 Td (This shift in relative emphasis has resulted in greater statutory and U.S. GAAP) Tj ET Q q 0 0 0 rg BT 468.34 188.25 Td ( earnings volatility and, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 176.25 Td (based upon the types of hedging instruments used, can result in potentially material char) Tj ET Q q 0 0 0 rg BT 384.56 176.25 Td (ges to net income \(loss\) in periods of rising ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 164.25 Td (equity market pricing levels, higher interest rates, declines in volatility and weakening of the yen against other currencies. ) Tj ET Q q 0 0 0 rg BT 521.43 164.25 Td (While we ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 152.25 Td (believe that these actions have improved the ef) Tj ET Q q 0 0 0 rg BT 218.75 152.25 Td (ficiency of our risk management related to these benefits, we remain liable for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 140.25 Td (guaranteed benefits in the event that reinsurers or derivative counterparties are unable or unwilling to pay and, in turn, may need ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 128.25 Td (additional capital to support in-force business. ) Tj ET Q q 0 0 0 rg BT 218.78 128.25 Td (W) Tj ET Q q 0 0 0 rg BT 227.41 128.25 Td (e are also subject to the risk that these management procedures prove inef) Tj ET Q q 0 0 0 rg BT 522.12 128.25 Td (fective or that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 116.25 Td (unanticipated policyholder behavior) Tj ET Q q 0 0 0 rg BT 175.49 116.25 Td (, combined with adverse market events, produces economic losses beyond the scope of the risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 104.25 Td (management techniques employed, which individually or collectively may have a material adverse ef) Tj ET Q q 0 0 0 rg BT 436.45 104.25 Td (fect on our business, financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 92.25 Td (condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 208.05 92.25 Td (.) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (23) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (The occurrence of one or more terrorist attacks in the geographic areas we serve or the threat of terrorism in general may have a ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 701.25 Td (material adverse ef) Tj ET Q q 0 0 0 rg BT 109.63 701.25 Td (fect on our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 418.75 701.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 682.65 Td (The occurrence of one or more terrorist attacks in the geographic areas we serve could result in substantially higher claims under our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 670.65 Td (insurance policies than we have anticipated. Private sector catastrophe reinsurance is extremely limited and generally unavailable for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 658.65 Td (terrorism losses caused by attacks with nuclear) Tj ET Q q 0 0 0 rg BT 218.82 658.65 Td (, biological, chemical or radiological weapons. Reinsurance coverage from the federal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 646.65 Td (government under the ) Tj ET Q q 0 0 0 rg BT 121.57 646.65 Td (T) Tj ET Q q 0 0 0 rg BT 126.98 646.65 Td (errorism Risk Insurance Program Reauthorization ) Tj ET Q q 0 0 0 rg BT 328.32 646.65 Td (Act of 2007 \(TRIPRA\) is also limited. ) Tj ET Q q 0 0 0 rg BT 492.74 646.65 Td (Although ) Tj ET Q q 0 0 0 rg BT 532.84 646.65 Td (TRIPRA) Tj ET Q q 0 0 0 rg BT 567.85 646.65 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 634.65 Td (provides benefits in the event of certain acts of terrorism, those benefits are subject to a deductible and other limitations. Under ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 622.65 Td (TRIPRA, once our losses exceed 20% of our subject commercial property and casualty insurance premium for the preceding calendar ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 610.65 Td (year) Tj ET Q q 0 0 0 rg BT 48.31 610.65 Td (, the federal government will reimburse us for 85% of our losses attributable to certain acts of terrorism which exceed this deductible ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 598.65 Td (up to a total industry program cap of $100billion. Our estimated deductible under the program is $1.2billion for 2014. In addition, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 586.65 Td (because the interpretation of this law is untested, there is substantial uncertainty as to how it will be applied to specific circumstances. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 574.65 Td (Moreover) Tj ET Q q 0 0 0 rg BT 70.53 574.65 Td (, ) Tj ET Q q 0 0 0 rg BT 75.35 574.65 Td (TRIPRA) Tj ET Q q 0 0 0 rg BT 110.36 574.65 Td ( is due to expire at the end of 2014 unless Congress takes legislative action to reauthorize it. Because many of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 562.65 Td (insurance policies we write in 2014 have terms that extend beyond the current expiration of ) Tj ET Q q 0 0 0 rg BT 399.81 562.65 Td (TRIPRA, if Congress fails to reauthorize ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 550.65 Td (TRIPRA, the Company may be exposed to substantially higher losses from a terrorist attack than it anticipated. ) Tj ET Q q 0 0 0 rg BT 481.22 550.65 Td (The Company may also ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 538.65 Td (be required to take actions to reduce its exposure to terrorism risks in the future, which could negatively impact its business. Even if ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 526.65 Td (Congress extends ) Tj ET Q q 0 0 0 rg BT 104.09 526.65 Td (TRIPRA) Tj ET Q q 0 0 0 rg BT 139.10 526.65 Td ( beyond 2014, it could make changes that would negatively impact the Company) Tj ET Q q 0 0 0 rg BT 461.98 526.65 Td (. For example, past ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 514.65 Td (reauthorizations have narrowed the insurance lines that are covered under the program.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 496.65 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 80.84 496.65 Td (, the ef) Tj ET Q q 0 0 0 rg BT 108.14 496.65 Td (fects of a terrorist attack in the geographic areas we serve may result in claims and related losses for which we do not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 484.65 Td (have adequate reinsurance. ) Tj ET Q q 0 0 0 rg BT 141.81 484.65 Td (This would likely cause us to increase our reserves, adversely af) Tj ET Q q 0 0 0 rg BT 398.49 484.65 Td (fect our results during the period or periods ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 472.65 Td (af) Tj ET Q q 0 0 0 rg BT 39.09 472.65 Td (fected and, could adversely af) Tj ET Q q 0 0 0 rg BT 158.57 472.65 Td (fect our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 444.81 472.65 Td (. Further) Tj ET Q q 0 0 0 rg BT 478.84 472.65 Td (, the continued threat of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 460.65 Td (terrorism and the occurrence of terrorist attacks, as well as heightened security measures and military action in response to these threats ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 448.65 Td (and attacks or other geopolitical or military crises, may cause significant volatility in global financial markets, disruptions to commerce ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 436.65 Td (and reduced economic activity) Tj ET Q q 0 0 0 rg BT 153.30 436.65 Td (. ) Tj ET Q q 0 0 0 rg BT 158.12 436.65 Td (These consequences could have an adverse ef) Tj ET Q q 0 0 0 rg BT 340.63 436.65 Td (fect on the value of the assets in our investment portfolio as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 424.65 Td (well as those in our separate accounts. ) Tj ET Q q 0 0 0 rg BT 186.82 424.65 Td (T) Tj ET Q q 0 0 0 rg BT 192.23 424.65 Td (errorist attacks also could disrupt our operations centers in the U.S. or abroad. ) Tj ET Q q 0 0 0 rg BT 506.04 424.65 Td (As a result, it is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 412.65 Td (possible that any) Tj ET Q q 0 0 0 rg BT 98.06 412.65 Td (, or a combination of all, of these factors may have a material adverse ef) Tj ET Q q 0 0 0 rg BT 386.65 412.65 Td (fect on our business, financial condition, results ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 400.65 Td (of operations and liquidity) Tj ET Q q 0 0 0 rg BT 136.67 400.65 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 382.65 Td (Regulatory and Legal Risks ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 364.65 Td (The impact of regulatory initiatives and legislative developments, including the enactment of the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 483.61 364.65 Td (Act of 2010, could ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 352.65 Td (have a material adverse impact on our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 453.39 352.65 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 334.05 Td (Regulatory initiatives and legislative developments may significantly af) Tj ET Q q 0 0 0 rg BT 318.75 334.05 Td (fect our operations and prospects in ways that we cannot predict. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 322.05 Td (U.S. and overseas governmental and regulatory authorities, including the SEC, the Board of Governors of the Federal Reserve System ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 310.05 Td (\(the "Federal Reserve"\), the Federal Deposit Insurance Corporation \(FDIC\), the NYSE and the Financial Industry Regulatory ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 298.05 Td (Authority) Tj ET Q q 0 0 0 rg BT 69.74 298.05 Td (, Inc. \(FINRA\) are considering enhanced or new regulatory requirements intended to prevent future financial crises or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 286.05 Td (otherwise stabilize the institutions under their supervision. Such measures are likely to lead to stricter regulation of financial institutions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 274.05 Td (generally) Tj ET Q q 0 0 0 rg BT 68.05 274.05 Td (, and heightened prudential requirements for systemically important companies in particular) Tj ET Q q 0 0 0 rg BT 435.44 274.05 Td (. Such measures could include ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 262.05 Td (taxation of financial transactions and restrictions on employee compensation.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 243.45 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 100.38 243.45 Td (Act was enacted on July21, 2010, mandating changes to the regulation of the financial services industry) Tj ET Q q 0 0 0 rg BT 517.39 243.45 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 231.45 Td (Implementation of the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 173.69 231.45 Td (Act is ongoing and may af) Tj ET Q q 0 0 0 rg BT 279.32 231.45 Td (fect our operations and governance in ways that could adversely af) Tj ET Q q 0 0 0 rg BT 546.26 231.45 Td (fect our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 219.45 Td (financial condition and results of operations. ) Tj ET Q q 0 0 0 rg BT 212.11 219.45 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 280.98 219.45 Td (Act requires central clearing of, and imposes new mar) Tj ET Q q 0 0 0 rg BT 497.11 219.45 Td (gin requirements on, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 207.45 Td (certain derivatives transactions, which increases the costs of our hedging program. Other provisions in the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 509.16 207.45 Td (Act that may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 195.45 Td (impact us include: the new Federal Insurance Of) Tj ET Q q 0 0 0 rg BT 229.85 195.45 Td (fice within ) Tj ET Q q 0 0 0 rg BT 279.65 195.45 Td (T) Tj ET Q q 0 0 0 rg BT 285.41 195.45 Td (reasury; the possible adverse impact on the pricing and liquidity of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 183.45 Td (securities in which we invest resulting from the proprietary trading and market making limitation of the ) Tj ET Q q 0 0 0 rg BT 447.88 183.45 Td (V) Tj ET Q q 0 0 0 rg BT 453.81 183.45 Td (olcker Rule; the possible ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 171.45 Td (adverse impact on the market for insurance-linked securities, including catastrophe bonds, resulting from the limitations of banking ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 159.45 Td (entity involvement in and ownership of certain asset-backed securities transactions; and enhancements to corporate governance, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 147.45 Td (especially regarding risk management.) Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 100.38 713.10 Td (Act vests the Financial Stability Oversight Council \(FSOC\) with the power to designate systemically important ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (institutions, which will be subject to special regulatory supervision and other provisions intended to prevent, or mitigate the impact of, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (future disruptions in the U.S. financial system. Based on its most current financial data, ) Tj ET Q q 0 0 0 rg BT 383.47 689.10 Td (The Hartford is below the quantitative thresholds ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (used by the FSOC to determine which nonbank companies merit consideration. However) Tj ET Q q 0 0 0 rg BT 387.69 677.10 Td (, the FSOC has indicted it will review on a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (quarterly basis whether nonbank financial institutions meet the metrics for further review) Tj ET Q q 0 0 0 rg BT 387.68 665.10 Td (. If we were to be designated as a systemically ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (important institution, we could be subject to heightened regulation under the Federal Reserve, which could impact requirements ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (regarding our capital, liquidity and leverage as well as our business and investment conduct. In addition, we could be subject to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (assessments to pay for the orderly liquidation of other systemically important financial institutions that have become insolvent. ) Tj ET Q q 0 0 0 rg BT 541.39 629.10 Td (As a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (result of these requirements, we could incur substantial costs and suf) Tj ET Q q 0 0 0 rg BT 305.97 617.10 Td (fer other negative consequences, all of which may have a material ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (adverse ef) Tj ET Q q 0 0 0 rg BT 72.13 605.10 Td (fect on our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 370.86 605.10 Td (. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 586.50 Td (W) Tj ET Q q 0 0 0 rg BT 39.65 586.50 Td (e may experience unfavorable judicial or legislative developments involving claim litigation that could have a material adverse ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 574.50 Td (ef) Tj ET Q q 0 0 0 rg BT 39.09 574.50 Td (fect on our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 348.21 574.50 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 555.90 Td (The Hartford is involved in claims litigation arising in the ordinary course of business, both as a liability insurer defending or providing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 543.90 Td (indemnity for third-party claims brought against insureds and as an insurer defending coverage claims brought against it. ) Tj ET Q q 0 0 0 rg BT 517.30 543.90 Td (The Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 531.90 Td (accounts for such activity through the establishment of unpaid loss and loss adjustment expense reserves. ) Tj ET Q q 0 0 0 rg BT 454.56 531.90 Td (The Company is also involved ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 519.90 Td (in legal actions that do not arise in the ordinary course of business, some of which assert claims for substantial amounts. Pervasive or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 507.90 Td (significant changes in the judicial environment relating to matters such as trends in the size of jury awards, developments in the law ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 495.90 Td (relating to the liability of insurers or tort defendants, and rulings concerning the availability or amount of certain types of damages could ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 483.90 Td (cause our ultimate liabilities to change from our current expectations. Changes in federal or state tort litigation laws or other applicable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 471.90 Td (law could have a similar ef) Tj ET Q q 0 0 0 rg BT 139.33 471.90 Td (fect. It is not possible to predict changes in the judicial and legislative environment and their impact on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 459.90 Td (future development of the adequacy of our loss reserves, particularly reserves for longer) Tj ET Q q 0 0 0 rg BT 383.66 459.90 Td (-tailed lines of business, including asbestos and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 447.90 Td (environmental reserves, and how those changes might adversely af) Tj ET Q q 0 0 0 rg BT 298.73 447.90 Td (fect our ability to price our products appropriately) Tj ET Q q 0 0 0 rg BT 498.29 447.90 Td (. Our business, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 435.90 Td (financial condition, results of operations and liquidity could also be adversely af) Tj ET Q q 0 0 0 rg BT 352.34 435.90 Td (fected if judicial or legislative developments cause our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 423.90 Td (ultimate liabilities to increase from current expectations.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 405.30 Td (Potential changes in domestic and foreign regulation may increase our business costs and required capital levels, which could have a ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 393.30 Td (material adverse ef) Tj ET Q q 0 0 0 rg BT 109.63 393.30 Td (fect on our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 418.75 393.30 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 374.70 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 374.70 Td (e are subject to extensive U.S. and non-U.S. laws and regulations that are complex, subject to change and often conflicting in their ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 362.70 Td (approach or intended outcomes. Compliance with these laws and regulations is costly and can af) Tj ET Q q 0 0 0 rg BT 417.04 362.70 Td (fect our strategy) Tj ET Q q 0 0 0 rg BT 481.36 362.70 Td (, as well as the demand ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 350.70 Td (for and profitability of the products we of) Tj ET Q q 0 0 0 rg BT 197.66 350.70 Td (fer) Tj ET Q q 0 0 0 rg BT 208.21 350.70 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 332.10 Td (State insurance laws regulate most aspects of our U.S. insurance businesses, and our insurance subsidiaries are regulated by the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 320.10 Td (insurance departments of the states in which they are domiciled, licensed or authorized to conduct business. ) Tj ET Q q 0 0 0 rg BT 464.52 320.10 Td (These regulatory regimes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 308.10 Td (are generally designed to protect the interests of policyholders rather than insurers, their shareholders and other investors. U.S. state laws ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 296.10 Td (grant insurance regulatory authorities broad administrative powers with respect to, among other things, licensing and authorization for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 284.10 Td (lines of business, statutory capital and reserve requirements, limitations on the types and amounts of certain investments, underwriting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 272.10 Td (limitations, transactions with af) Tj ET Q q 0 0 0 rg BT 157.41 272.10 Td (filiates, dividend limitations, changes in control, premium rates and a variety of other financial and non-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 260.10 Td (financial components of an insurer's business.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 241.50 Td (In addition, future regulatory initiatives could be adopted at the federal or state level that could impact the profitability of our businesses. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 229.50 Td (For example, the NAIC and state insurance regulators are continually reexamining existing laws and regulations, specifically focusing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 217.50 Td (on modifications to statutory accounting principles, interpretations of existing laws and the development of new laws and regulations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 205.50 Td (The NAIC has undertaken a Solvency Modernization Initiative focused on updating the U.S.insurance solvency regulation framework, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 193.50 Td (including capital requirements, governance and risk management, group supervision, accounting and financial reporting and reinsurance. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 181.50 Td (Any proposed or future legislation or NAIC initiatives, if adopted, may be more restrictive on our ability to conduct business than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 169.50 Td (current regulatory requirements or may result in higher costs or increased statutory capital and reserve requirements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 150.90 Td (Further) Tj ET Q q 0 0 0 rg BT 60.54 150.90 Td (, because these laws and regulations are complex and sometimes inexact, there is also a risk that our business may not fully ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 138.90 Td (comply with a particular regulator's or enforcement authority's interpretation of a legal, accounting, or reserving issue or that such ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 126.90 Td (regulator) Tj ET Q q 0 0 0 rg BT 67.96 126.90 Td () Tj ET Q q 0 0 0 rg BT 70.74 126.90 Td (s or enforcement authority) Tj ET Q q 0 0 0 rg BT 179.32 126.90 Td (s interpretation may change over time to our detriment, or expose us to dif) Tj ET Q q 0 0 0 rg BT 476.28 126.90 Td (ferent or additional ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 114.90 Td (regulatory risks. ) Tj ET Q q 0 0 0 rg BT 98.80 114.90 Td (The application of these regulations and guidelines by insurers involves interpretations and judgments that may not be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 102.90 Td (consistent with the opinion of state insurance departments. ) Tj ET Q q 0 0 0 rg BT 268.21 102.90 Td (W) Tj ET Q q 0 0 0 rg BT 276.85 102.90 Td (e cannot provide assurance that such dif) Tj ET Q q 0 0 0 rg BT 436.61 102.90 Td (ferences of opinion will not result ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 90.90 Td (in regulatory) Tj ET Q q 0 0 0 rg BT 82.22 90.90 Td (, tax or other challenges to the actions we have taken to date. ) Tj ET Q q 0 0 0 rg BT 327.78 90.90 Td (The result of those potential challenges could require us to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 78.90 Td (increase levels of statutory capital and reserves or incur higher operating and/or tax costs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 60.30 Td (In addition, our international operations are subject to regulation in the relevant jurisdictions in which they operate \(primarily the Japan ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 48.30 Td (Financial Services ) Tj ET Q q 0 0 0 rg BT 107.04 48.30 Td (Agency\), which in many ways is similar to the state regulation outlined above, with similar related restrictions and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 36.30 Td (obligations. Our asset management businesses are also subject to extensive regulation in the various jurisdictions where they operate.) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (These laws and regulations are primarily intended to protect investors in the securities markets or investment advisory clients and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (generally grant supervisory authorities broad administrative powers. Compliance with these laws and regulations is costly) Tj ET Q q 0 0 0 rg BT 518.23 701.10 Td (, time ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (consuming and personnel intensive, and may have an adverse ef) Tj ET Q q 0 0 0 rg BT 287.90 689.10 Td (fect on our business, financial condition, results of operations and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (liquidity) Tj ET Q q 0 0 0 rg BT 64.74 677.10 Td (. See the risk factor) Tj ET Q q 0 0 0 rg BT 141.81 677.10 Td (, The impact of regulatory initiatives, including the enactment of ) Tj ET Q q 0 0 0 rg BT 407.10 677.10 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 476.35 677.10 Td (W) Tj ET Q q 0 0 0 rg BT 484.99 677.10 Td (all Street Reform and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (Consumer Protection ) Tj ET Q q 0 0 0 rg BT 118.16 665.10 Td (Act of 2010, could have a material adverse impact on our business, financial condition, results of operations and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (liquidity) Tj ET Q q 0 0 0 rg BT 64.74 653.10 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 634.50 Td (Changes in federal or state tax laws could adversely af) Tj ET Q q 0 0 0 rg BT 255.48 634.50 Td (fect our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 551.54 634.50 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 615.90 Td (Changes in federal or state tax laws could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 305.09 615.90 Td (fect on our profitability and financial condition, and could result in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 603.90 Td (our incurring materially higher corporate taxes. Higher tax rates may cause small businesses to hire fewer workers and decrease ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 591.90 Td (investment in their businesses, including purchasing vehicles, property and equipment, which could adversely af) Tj ET Q q 0 0 0 rg BT 481.21 591.90 Td (fect our business, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 579.90 Td (financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 245.53 579.90 Td (. Conversely) Tj ET Q q 0 0 0 rg BT 295.43 579.90 Td (, if income tax rates decline it could adversely af) Tj ET Q q 0 0 0 rg BT 489.61 579.90 Td (fect the Company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 567.90 Td (ability to realize the benefits of its deferred tax assets.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 549.30 Td (In addition, the Company) Tj ET Q q 0 0 0 rg BT 136.49 549.30 Td (s tax return reflects certain items, including but not limited to, tax-exempt bond interest, dividends received ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 537.30 Td (deductions, tax credits \(such as foreign tax credits\), and insurance reserve deductions. ) Tj ET Q q 0 0 0 rg BT 377.03 537.30 Td (There is an increasing risk that, in the context of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 525.30 Td (deficit reduction or overall tax reform, federal and/or state tax legislation could modify or eliminate these items, impacting the Company) Tj ET Q q 0 0 0 rg BT 577.62 525.30 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 513.30 Td (its investments, investment strategies, and/or its policyholders. ) Tj ET Q q 0 0 0 rg BT 284.24 513.30 Td (Although the specific form of any such legislation is uncertain, changes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 501.30 Td (to the taxation of municipal bond interest could materially and adversely impact the value of those bonds, limit our investment choices ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 489.30 Td (and depress portfolio yield. Elimination of the dividends received deduction or changes to the taxation of reserving methodologies for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 477.30 Td (P&C companies could increase the Company) Tj ET Q q 0 0 0 rg BT 215.63 477.30 Td (s actual tax rate, thereby reducing earnings.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 458.70 Td (Moreover) Tj ET Q q 0 0 0 rg BT 70.53 458.70 Td (, many of the products that the Company previously sold benefit from one or more forms of tax-favored status under current ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 446.70 Td (federal and state income tax regimes. For example, the Company previously sold annuity contracts that allowed policyholders to defer ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 434.70 Td (the recognition of taxable income earned within the contract. Because the Company no longer sells these products, changes in the future ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 422.70 Td (taxation of life insurance and/or annuity contracts will not adversely impact future sales. If, however) Tj ET Q q 0 0 0 rg BT 433.18 422.70 Td (, the treatment of earnings accrued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 410.70 Td (inside an annuity contract was changed prospectively) Tj ET Q q 0 0 0 rg BT 244.11 410.70 Td (, and the tax-favored status of existing contracts was grandfathered, holders of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 398.70 Td (existing contracts would be less likely to surrender) Tj ET Q q 0 0 0 rg BT 234.11 398.70 Td (, which would make running of) Tj ET Q q 0 0 0 rg BT 359.46 398.70 Td (f our existing annuity business more dif) Tj ET Q q 0 0 0 rg BT 518.15 398.70 Td (ficult.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 380.10 Td (Regulatory requirements could delay) Tj ET Q q 0 0 0 rg BT 183.07 380.10 Td (, deter or prevent a takeover attempt that shareholders might consider in their best interests. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 361.50 Td (Before a person can acquire control of a U.S. insurance company) Tj ET Q q 0 0 0 rg BT 291.30 361.50 Td (, prior written approval must be obtained from the insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 349.50 Td (commissioner of the state where the domestic insurer is domiciled. Prior to granting approval of an application to acquire control of a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 337.50 Td (domestic insurer) Tj ET Q q 0 0 0 rg BT 97.47 337.50 Td (, the state insurance commissioner will consider such factors as the financial strength of the applicant, the acquirer's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 325.50 Td (plans for the future operations of the domestic insurer) Tj ET Q q 0 0 0 rg BT 246.04 325.50 Td (, and any such additional information as the insurance commissioner may deem ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 313.50 Td (necessary or appropriate for the protection of policyholders or in the public interest. Generally) Tj ET Q q 0 0 0 rg BT 407.94 313.50 Td (, state statutes provide that control over a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 301.50 Td (domestic insurer is presumed to exist if any person, directly or indirectly) Tj ET Q q 0 0 0 rg BT 321.33 301.50 Td (, owns, controls, holds with the power to vote, or holds proxies ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 289.50 Td (representing 10 percent or more of the voting securities of the domestic insurer or its parent company) Tj ET Q q 0 0 0 rg BT 436.28 289.50 Td (. Because a person acquiring 10 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 277.50 Td (percent or more of our Common Stock would indirectly control the same percentage of the stock of our U.S. insurance subsidiaries, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 265.50 Td (insurance change of control laws of various U.S. jurisdictions would likely apply to such a transaction. Other laws or required approvals ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 253.50 Td (pertaining to one or more of our existing subsidiaries, or a future subsidiary) Tj ET Q q 0 0 0 rg BT 333.28 253.50 Td (, may contain similar or additional restrictions on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 241.50 Td (acquisition of control of the Company) Tj ET Q q 0 0 0 rg BT 183.32 241.50 Td (. ) Tj ET Q q 0 0 0 rg BT 188.14 241.50 Td (These laws may discourage potential acquisition proposals and may delay) Tj ET Q q 0 0 0 rg BT 483.24 241.50 Td (, deter) Tj ET Q q 0 0 0 rg BT 507.83 241.50 Td (, or prevent a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 229.50 Td (change of control, including transactions that our Board of Directors and some or all of our shareholders might consider to be desirable.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 210.90 Td (Changes in accounting principles and financial reporting requirements could result in material changes to our reported results of ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 198.90 Td (operations and financial condition. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 180.30 Td (U.S. GAAP) Tj ET Q q 0 0 0 rg BT 78.64 180.30 Td ( and related financial reporting requirements are complex, continually evolving and may be subject to varied interpretation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 168.30 Td (by the relevant authoritative bodies. Such varied interpretations could result from dif) Tj ET Q q 0 0 0 rg BT 370.11 168.30 Td (fering views related to specific facts and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 156.30 Td (circumstances. Changes in U.S. GAAP) Tj ET Q q 0 0 0 rg BT 187.50 156.30 Td ( and financial reporting requirements, or in the interpretation of U.S. GAAP) Tj ET Q q 0 0 0 rg BT 490.93 156.30 Td ( or those ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 144.30 Td (requirements, could result in material changes to our reported results and financial condition. Moreover) Tj ET Q q 0 0 0 rg BT 445.13 144.30 Td (, the SEC is currently evaluating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 132.30 Td (International Financial Reporting Standards \(IFRS\) to determine whether IFRS should be incorporated into the financial reporting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 120.30 Td (system for U.S. issuers. Certain of these standards could result in material changes to our reported results of operations.) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (26) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Other) Tj ET Q q 0 0 0 rg BT 56.87 713.25 Td ( Operational Risks ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The success of the realignment of our businesses, our capital management plan, expense reduction initiatives and other actions, ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (which may include acquisitions, divestitures or restructurings, are subject to material challenges, uncertainties and risks which could ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (adversely af) Tj ET Q q 0 0 0 rg BT 80.46 671.25 Td (fect our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 376.52 671.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (The success of the realignment of our businesses and our capital management plan remain subject to material challenges, uncertainties ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (and risks. ) Tj ET Q q 0 0 0 rg BT 72.15 641.25 Td (W) Tj ET Q q 0 0 0 rg BT 80.79 641.25 Td (e may not achieve all of the benefits we expect to derive from our plan to repurchase $2 billion of our equity and reduce our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (debt by $656 million over the course of 2014 and 2015 and our decision to focus on our Property and Casualty) Tj ET Q q 0 0 0 rg BT 473.55 629.25 Td (, Group Benefits and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (Mutual Fund businesses, place our Individual ) Tj ET Q q 0 0 0 rg BT 215.65 617.25 Td (Annuity business into runof) Tj ET Q q 0 0 0 rg BT 326.85 617.25 Td (f and sell the Individual Life and Retirement Plans businesses. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (Our capital management plan is subject to execution risks, including, among others, risks related to market fluctuations and investor ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (interest and potential legal constraints that could delay execution at an otherwise optimal time. ) Tj ET Q q 0 0 0 rg BT 412.04 593.25 Td (There can be no assurance that we will in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (fact complete our capital management plan over the planned time frame or at all. Further) Tj ET Q q 0 0 0 rg BT 386.23 581.25 Td (, while the Company continues to actively ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (consider alternatives for reducing the size and risk of the variable annuity book, opportunities to do so may be limited and any initiatives ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (pursued, which may include divestitures, may not achieve the anticipated benefits and may negatively impact our statutory capital, net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (income, core earnings or shareholders) Tj ET Q q 0 0 0 rg BT 185.97 545.25 Td ( equity) Tj ET Q q 0 0 0 rg BT 212.82 545.25 Td (. Initiatives to reduce expenses so that our ongoing businesses remain or become cost ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (ef) Tj ET Q q 0 0 0 rg BT 39.09 533.25 Td (ficient may not be successful and we may not be able to reduce Corporate and shared services expenses in the manner and on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (schedule we currently anticipate. ) Tj ET Q q 0 0 0 rg BT 165.43 521.25 Td (W) Tj ET Q q 0 0 0 rg BT 174.06 521.25 Td (e may take further actions beyond the capital management plan and business realignment, which may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (include acquisitions, divestitures or restructurings that may involve additional uncertainties and risks that negatively impact our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.25 Td (business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 284.42 497.25 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (Competitive activity may adversely af) Tj ET Q q 0 0 0 rg BT 183.49 479.25 Td (fect our market share and financial results, which could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 524.97 479.25 Td (fect on our ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 467.25 Td (business and results of operations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (The industries in which we operate are highly competitive. Our principal competitors are other property and casualty insurers, group ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (benefits providers and mutual funds. Lar) Tj ET Q q 0 0 0 rg BT 194.05 437.25 Td (ger competitors may have lower operating costs and an ability to absorb greater risk while ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (maintaining their financial strength ratings, thereby allowing them to price their products more competitively) Tj ET Q q 0 0 0 rg BT 467.39 425.25 Td (. ) Tj ET Q q 0 0 0 rg BT 472.21 425.25 Td (These highly competitive ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (pressures could result in increased pricing pressures on a number of our products and services and may harm our ability to maintain or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (increase our profitability) Tj ET Q q 0 0 0 rg BT 129.70 401.25 Td (. Because of the highly competitive nature of these industries, there can be no assurance that we will continue to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (compete ef) Tj ET Q q 0 0 0 rg BT 75.46 389.25 Td (fectively with our industry rivals, or that competitive pressure will not have a material adverse ef) Tj ET Q q 0 0 0 rg BT 462.93 389.25 Td (fect on our business and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.25 Td (results of operations.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 359.25 Td (W) Tj ET Q q 0 0 0 rg BT 39.65 359.25 Td (e may experience dif) Tj ET Q q 0 0 0 rg BT 124.16 359.25 Td (ficulty in marketing, distributing and providing investment advisory services in relation to our products ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (through current and future distribution channels and advisory firms. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.25 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 329.25 Td (e distribute our insurance products and mutual funds through a variety of distribution channels, including brokers, independent agents, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.25 Td (broker) Tj ET Q q 0 0 0 rg BT 57.40 317.25 Td (-dealers, banks, af) Tj ET Q q 0 0 0 rg BT 129.96 317.25 Td (finity partners, our own internal sales force and other third-party or) Tj ET Q q 0 0 0 rg BT 398.30 317.25 Td (ganizations. In some areas of our business, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.25 Td (we generate a significant portion of our business through or in connection with individual third-party arrangements. For example, we ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.25 Td (market our Consumer Markets products in part through an exclusive licensing arrangement with ) Tj ET Q q 0 0 0 rg BT 418.35 293.25 Td (AARP) Tj ET Q q 0 0 0 rg BT 444.65 293.25 Td ( that continues through ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.25 Td (January2023. Our ability to distribute products through af) Tj ET Q q 0 0 0 rg BT 264.89 281.25 Td (finity partners may be adversely impacted by membership levels and the pace ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.25 Td (of membership growth. ) Tj ET Q q 0 0 0 rg BT 127.41 269.25 Td (W) Tj ET Q q 0 0 0 rg BT 136.05 269.25 Td (e periodically negotiate provisions and renewals of these relationships, and there can be no assurance that such ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.25 Td (terms will remain acceptable to us or such third parties. ) Tj ET Q q 0 0 0 rg BT 255.04 257.25 Td (An interruption in our continuing relationship with certain of these third parties, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.25 Td (including potentially as a result of a strategic transaction or other Company initiatives, could materially af) Tj ET Q q 0 0 0 rg BT 455.08 245.25 Td (fect our ability to market our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (products and could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 214.29 233.25 Td (fect on our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 513.03 233.25 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (If we are unable to maintain the availability of our systems and safeguard the security of our data due to the occurrence of disasters ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 203.25 Td (or a cyber or other information security incident, our ability to conduct business may be compromised, we may incur substantial ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 191.25 Td (costs and suf) Tj ET Q q 0 0 0 rg BT 84.66 191.25 Td (fer other negative consequences, all of which may have a material adverse ef) Tj ET Q q 0 0 0 rg BT 400.27 191.25 Td (fect on our business, financial condition, ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 179.25 Td (results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 169.48 179.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 160.65 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 160.65 Td (e use computer systems to process, store, retrieve, evaluate and utilize customer and company data and information. Our computer) Tj ET Q q 0 0 0 rg BT 561.79 160.65 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 148.65 Td (information technology and telecommunications systems, in turn, interface with and rely upon third-party systems or maintenance. Our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 136.65 Td (business is highly dependent on our ability) Tj ET Q q 0 0 0 rg BT 201.94 136.65 Td (, and the ability of certain third parties, to access our systems to perform necessary business ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 124.65 Td (functions, including, without limitation, conducting our financial reporting and analysis, providing insurance quotes, processing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 112.65 Td (premium payments, making changes to existing policies, filing and paying claims, administering variable annuity products and mutual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 100.65 Td (funds, providing customer support and managing our investment portfolios and hedging programs.) 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Even if our employees and business ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (partners are able to report to work, they may be unable to perform their duties for an extended period of time if our data or systems used ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (to conduct our business are disabled or destroyed.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 634.50 Td (Moreover) Tj ET Q q 0 0 0 rg BT 70.53 634.50 Td (, our computer systems have been, and will likely continue to be, subject to computer viruses or other malicious codes, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 622.50 Td (unauthorized access, cyber) Tj ET Q q 0 0 0 rg BT 138.75 622.50 Td (-attacks or other computer related penetrations. ) Tj ET Q q 0 0 0 rg BT 329.87 622.50 Td (While, to date, ) Tj ET Q q 0 0 0 rg BT 391.06 622.50 Td (The Hartford is not aware of having ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 610.50 Td (experienced a material breach of cybersecurity) Tj ET Q q 0 0 0 rg BT 217.69 610.50 Td (, administrative and technical controls as well as other preventive actions we take to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 598.50 Td (reduce the risk of cyber incidents and protect our information technology may be insuf) Tj ET Q q 0 0 0 rg BT 378.16 598.50 Td (ficient to prevent physical and electronic break-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 586.50 Td (ins, denial of service, cyber) Tj ET Q q 0 0 0 rg BT 141.26 586.50 Td (-attacks or other security breaches to our computer systems or those of third parties with whom we do ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 574.50 Td (business. Such an event could compromise our confidential information as well as that of our clients and third parties with whom we ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 562.50 Td (interact, impede or interrupt our business operations and may result in other negative consequences, including remediation costs, loss of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 550.50 Td (revenue, additional regulatory scrutiny and litigation and reputational damage.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 531.90 Td (In addition, we routinely transmit, receive and store personal, confidential and proprietary information by email and other electronic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 519.90 Td (means. ) Tj ET Q q 0 0 0 rg BT 61.50 519.90 Td (Although we attempt to keep such information confidential, we may be unable to utilize such capabilities in all events, especially ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 507.90 Td (with clients, vendors, service providers, counterparties and other third parties who may not have or use appropriate controls to protect ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 495.90 Td (confidential information.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 477.30 Td (Furthermore, certain of our businesses are subject to compliance with regulations enacted by U.S. federal and state governments, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 465.30 Td (European Union, Japan or other jurisdictions or enacted by various regulatory or) Tj ET Q q 0 0 0 rg BT 353.45 465.30 Td (ganizations or exchanges relating to the privacy of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 453.30 Td (information of clients, employees or others. ) Tj ET Q q 0 0 0 rg BT 208.13 453.30 Td (A) Tj ET Q q 0 0 0 rg BT 214.80 453.30 Td ( misuse or mishandling of confidential or proprietary information being sent to or received ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 441.30 Td (from an employee or third party could result in legal liability) Tj ET Q q 0 0 0 rg BT 274.12 441.30 Td (, regulatory action and reputational harm.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 422.70 Td (Third parties to whom we outsource certain of our functions are also subject to the risks outlined above, any one of which may result in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 410.70 Td (our incurring substantial costs and other negative consequences, including a material adverse ef) Tj ET Q q 0 0 0 rg BT 413.69 410.70 Td (fect on our business, financial condition, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 398.70 Td (results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 165.27 398.70 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 380.10 Td (While we maintain cyber liability insurance that provides both third party liability and first party insurance coverages, our insurance may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 368.10 Td (not be suf) Tj ET Q q 0 0 0 rg BT 70.76 368.10 Td (ficient to protect against all loss.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 344.10 Td (Our framework for managing operational risks may not be ef) Tj ET Q q 0 0 0 rg BT 283.84 344.10 Td (fective in mitigating risk and loss to us that could adversely af) Tj ET Q q 0 0 0 rg BT 537.83 344.10 Td (fect our ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 332.10 Td (businesses. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 313.50 Td (Our business performance is highly dependent on our ability to manage operational risks that arise from a lar) Tj ET Q q 0 0 0 rg BT 467.03 313.50 Td (ge number of day-to-day ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 301.50 Td (business activities, including insurance underwriting, claims processing, servicing, investment, financial and tax reporting, compliance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 289.50 Td (with regulatory requirements and other activities, many of which are very complex and for some of which we rely on third parties. ) Tj ET Q q 0 0 0 rg BT 555.60 289.50 Td (W) Tj ET Q q 0 0 0 rg BT 564.23 289.50 Td (e ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 277.50 Td (seek to monitor and control our exposure to risks arising out of these activities through a risk control framework encompassing a variety ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 265.50 Td (of reporting systems, internal controls, management review processes and other mechanisms. ) Tj ET Q q 0 0 0 rg BT 406.77 265.50 Td (W) Tj ET Q q 0 0 0 rg BT 415.41 265.50 Td (e cannot be completely confident that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 253.50 Td (these processes and procedures will ef) Tj ET Q q 0 0 0 rg BT 184.32 253.50 Td (fectively control all known risks or ef) Tj ET Q q 0 0 0 rg BT 334.65 253.50 Td (fectively identify unforeseen risks, or that our employees and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 241.50 Td (third-party agents will ef) Tj ET Q q 0 0 0 rg BT 130.46 241.50 Td (fectively implement them. Management of operational risks can fail for a number of reasons, including design ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 229.50 Td (failure, systems failure, failures to perform, cyber security attacks, human error) Tj ET Q q 0 0 0 rg BT 348.20 229.50 Td (, or unlawful activities on the part of employees or third ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 217.50 Td (parties. In the event that our controls are not ef) Tj ET Q q 0 0 0 rg BT 218.47 217.50 Td (fective or not properly implemented, we could suf) Tj ET Q q 0 0 0 rg BT 418.79 217.50 Td (fer financial or other loss, disruption of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 205.50 Td (our businesses, regulatory sanctions or damage to our reputation. Losses resulting from these failures can vary significantly in size, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 193.50 Td (scope and scale and may have material adverse ef) Tj ET Q q 0 0 0 rg BT 230.11 193.50 Td (fects on our financial condition or results of operations.) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (28) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (If we experience dif) Tj ET Q q 0 0 0 rg BT 112.68 713.25 Td (ficulties arising from outsourcing and similar third-party relationships, our ability to conduct business may be ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 701.25 Td (compromised, which may have an adverse ef) Tj ET Q q 0 0 0 rg BT 214.91 701.25 Td (fect on our business and results of operations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 682.65 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 682.65 Td (e outsource certain business and administrative functions and rely on third-party vendors to provide certain services on our behalf. ) Tj ET Q q 0 0 0 rg BT 563.32 682.65 Td (As ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 670.65 Td (we continue to focus on reducing the expense necessary to support our operations, we have become increasingly committed to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 658.65 Td (outsourcing strategies for certain technology and business functions. ) Tj ET Q q 0 0 0 rg BT 307.64 658.65 Td (W) Tj ET Q q 0 0 0 rg BT 316.28 658.65 Td (e may also seek to reduce coordination costs and take advantage ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 646.65 Td (of economies of scale by transitioning multiple functions and services to a small number of third-party providers. ) Tj ET Q q 0 0 0 rg BT 486.76 646.65 Td (W) Tj ET Q q 0 0 0 rg BT 495.40 646.65 Td (e periodically ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 634.65 Td (negotiate provisions and renewals of these relationships, and there can be no assurance that such terms will remain acceptable to us or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 622.65 Td (such third parties. If our continuing relationship with certain third-party providers, particularly those on which we rely for multiple ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 610.65 Td (functions or services, is interrupted, or if such third-party providers experience disruptions or do not perform as anticipated, or we ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 598.65 Td (experience problems with a transition, we may experience operational dif) Tj ET Q q 0 0 0 rg BT 325.09 598.65 Td (ficulties, an inability to meet obligations \(including, but not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 586.65 Td (limited to, policyholder obligations\), increased costs and a loss of business that may have a material adverse ef) Tj ET Q q 0 0 0 rg BT 474.25 586.65 Td (fect on our business and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 574.65 Td (results of operations. For other risks associated with our outsourcing of certain functions, see the risk factor) Tj ET Q q 0 0 0 rg BT 460.99 574.65 Td (, If we are unable to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 562.65 Td (maintain the availability of our systems and safeguard the security of our data due to the occurrence of disasters or a cyber or other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 550.65 Td (information security incident, our ability to conduct business may be compromised, we may incur substantial costs and suf) Tj ET Q q 0 0 0 rg BT 522.05 550.65 Td (fer other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 538.65 Td (negative consequences, all of which may have a material adverse ef) Tj ET Q q 0 0 0 rg BT 302.03 538.65 Td (fect on our business, financial condition, results of operations and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 526.65 Td (liquidity) Tj ET Q q 0 0 0 rg BT 64.74 526.65 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 508.05 Td (W) Tj ET Q q 0 0 0 rg BT 39.65 508.05 Td (e may not be able to protect our intellectual property and may be subject to infringement claims.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 489.45 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 489.45 Td (e rely on a combination of contractual rights and copyright, trademark, patent and trade secret laws to establish and protect our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 477.45 Td (intellectual property) Tj ET Q q 0 0 0 rg BT 111.65 477.45 Td (. ) Tj ET Q q 0 0 0 rg BT 116.10 477.45 Td (Although we use a broad range of measures to protect our intellectual property rights, third parties may infringe or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 465.45 Td (misappropriate our intellectual property) Tj ET Q q 0 0 0 rg BT 189.96 465.45 Td (. ) Tj ET Q q 0 0 0 rg BT 194.78 465.45 Td (W) Tj ET Q q 0 0 0 rg BT 203.42 465.45 Td (e may have to litigate to enforce and protect our copyrights, trademarks, patents, trade secrets ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 453.45 Td (and know-how or to determine their scope, validity or enforceability) Tj ET Q q 0 0 0 rg BT 304.65 453.45 Td (, which represents a diversion of resources that may be significant in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 441.45 Td (amount and may not prove successful. ) Tj ET Q q 0 0 0 rg BT 187.12 441.45 Td (The loss of intellectual property protection or the inability to secure or enforce the protection of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 429.45 Td (our intellectual property assets could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 285.38 429.45 Td (fect on our business and our ability to compete.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 410.85 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 410.85 Td (e also may be subject to costly litigation in the event that another party alleges our operations or activities infringe upon their ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 398.85 Td (intellectual property rights. ) Tj ET Q q 0 0 0 rg BT 142.40 398.85 Td (Third parties may have, or may eventually be issued, patents that could be infringed by our products, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 386.85 Td (systems, methods, processes or services. ) Tj ET Q q 0 0 0 rg BT 195.36 386.85 Td (Any party that holds such a patent could make a claim of infringement against us. ) Tj ET Q q 0 0 0 rg BT 524.54 386.85 Td (W) Tj ET Q q 0 0 0 rg BT 533.17 386.85 Td (e may be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 374.85 Td (subject to patent claims from certain individuals and companies who have acquired patent portfolios for the sole purpose of asserting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 362.85 Td (such claims against other companies. ) Tj ET Q q 0 0 0 rg BT 182.39 362.85 Td (W) Tj ET Q q 0 0 0 rg BT 191.03 362.85 Td (e may also be subject to claims by third parties for breach of copyright, trademark, trade secret ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 350.85 Td (or license usage rights. ) Tj ET Q q 0 0 0 rg BT 125.09 350.85 Td (Any such claims and any resulting litigation could result in significant liability for damages. If we were found to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 338.85 Td (have infringed a third-party patent or other intellectual property rights, we could incur substantial liability) Tj ET Q q 0 0 0 rg BT 453.78 338.85 Td (, and in some circumstances ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 326.85 Td (could be enjoined from providing certain products or services to our customers or utilizing and benefiting from certain methods, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 314.85 Td (processes, systems, copyrights, trademarks, trade secrets or licenses, or alternatively could be required to enter into costly licensing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 302.85 Td (arrangements with third parties, all of which could have a material adverse ef) Tj ET Q q 0 0 0 rg BT 340.36 302.85 Td (fect on our business, results of operations and financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 290.85 Td (condition.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 260.85 Td (Item 1B. ) Tj ET Q q 0 0 0 rg BT 85.50 260.85 Td (UNRESOL) Tj ET Q q 0 0 0 rg BT 132.93 260.85 Td (VED ST) Tj ET Q q 0 0 0 rg BT 168.03 260.85 Td (AFF) Tj ET Q q 0 0 0 rg BT 187.10 260.85 Td ( COMMENTS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 243.85 Td (None.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 226.85 Td (Item 2. ) Tj ET Q q 0 0 0 rg BT 85.50 226.85 Td (PROPER) Tj ET Q q 0 0 0 rg BT 126.26 226.85 Td (TIES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.85 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.44 209.85 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 137.03 209.85 Td (, ) Tj ET Q q 0 0 0 rg BT 141.85 209.85 Td (The Hartford owned building space of approximately 2.8million square feet, of which approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.85 Td (2.5million square feet comprised its Hartford, Connecticut location and other properties within the greater Hartford, Connecticut area. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.85 Td (In addition, as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 101.76 185.85 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.35 185.85 Td (, ) Tj ET Q q 0 0 0 rg BT 185.17 185.85 Td (The Hartford leased approximately 2.2million square feet, throughout the United States of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.85 Td (America, and approximately 56 thousand square feet, in other countries. ) Tj ET Q q 0 0 0 rg BT 322.24 173.85 Td (All of the properties owned or leased are used by one or more of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.85 Td (all six reporting segments, depending on the location. For more information on reporting segments, see PartI, Item1, Business ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.85 Td (Reporting Segments. ) Tj ET Q q 0 0 0 rg BT 117.70 149.85 Td (The Company believes its properties and facilities are suitable and adequate for current operations.) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (29) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (Item 3. LEGAL) Tj ET Q q 0 0 0 rg BT 110.64 712.60 Td ( PROCEEDINGS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 694.60 Td (Litigation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 676.60 Td (The Hartford is involved in claims litigation arising in the ordinary course of business, both as a liability insurer defending or providing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 664.60 Td (indemnity for third-party claims brought against insureds and as an insurer defending coverage claims brought against it. ) Tj ET Q q 0 0 0 rg BT 517.30 664.60 Td (The Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 652.60 Td (accounts for such activity through the establishment of unpaid loss and loss adjustment expense reserves. Subject to the uncertainties ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 640.60 Td (discussed below under the caption Asbestos and Environmental Claims, management expects that the ultimate liability) Tj ET Q q 0 0 0 rg BT 514.89 640.60 Td (, if any) Tj ET Q q 0 0 0 rg BT 542.29 640.60 Td (, with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 628.60 Td (respect to such ordinary-course claims litigation, after consideration of provisions made for potential losses and costs of defense, will not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 616.60 Td (be material to the consolidated financial condition, results of operations or cash flows of ) Tj ET Q q 0 0 0 rg BT 387.05 616.60 Td (The Hartford.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 598.60 Td (The Hartford is also involved in other kinds of legal actions, some of which assert claims for substantial amounts. ) Tj ET Q q 0 0 0 rg BT 488.72 598.60 Td (These actions include, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 586.60 Td (among others, and in addition to the matters described below) Tj ET Q q 0 0 0 rg BT 274.68 586.60 Td (, putative state and federal class actions seeking certification of a state or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 574.60 Td (national class. Such putative class actions have alleged, for example, underpayment of claims or improper underwriting practices in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 562.60 Td (connection with various kinds of insurance policies, such as personal and commercial automobile, property) Tj ET Q q 0 0 0 rg BT 459.90 562.60 Td (, life and inland marine; ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 550.60 Td (improper sales practices in connection with the sale of life insurance and other investment products; and improper fee arrangements in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 538.60 Td (connection with investment products. ) Tj ET Q q 0 0 0 rg BT 183.79 538.60 Td (The Hartford also is involved in individual actions in which punitive damages are sought, such as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 526.60 Td (claims alleging bad faith in the handling of insurance claims. Like many other insurers, ) Tj ET Q q 0 0 0 rg BT 382.89 526.60 Td (The Hartford also has been joined in actions by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 514.60 Td (asbestos plaintif) Tj ET Q q 0 0 0 rg BT 96.03 514.60 Td (fs asserting, among other things, that insurers had a duty to protect the public from the dangers of asbestos and that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 502.60 Td (insurers committed unfair trade practices by asserting defenses on behalf of their policyholders in the underlying asbestos cases. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 490.60 Td (Management expects that the ultimate liability) Tj ET Q q 0 0 0 rg BT 216.63 490.60 Td (, if any) Tj ET Q q 0 0 0 rg BT 244.02 490.60 Td (, with respect to such lawsuits, after consideration of provisions made for estimated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 478.60 Td (losses, will not be material to the consolidated financial condition of ) Tj ET Q q 0 0 0 rg BT 307.36 478.60 Td (The Hartford. Nonetheless, given the lar) Tj ET Q q 0 0 0 rg BT 468.52 478.60 Td (ge or indeterminate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 466.60 Td (amounts sought in certain of these actions, and the inherent unpredictability of litigation, the outcome in certain matters could, from time ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 454.60 Td (to time, have a material adverse ef) Tj ET Q q 0 0 0 rg BT 168.75 454.60 Td (fect on the Company's results of operations or cash flows in particular quarterly or annual periods.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 436.60 Td (Apart from the inherent dif) Tj ET Q q 0 0 0 rg BT 139.62 436.60 Td (ficulty of predicting litigation outcomes, the Mutual Funds Litigation identified below purports to seek ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 424.60 Td (substantial damages for unsubstantiated conduct spanning a multi-year period based on novel applications of complex legal theories. ) Tj ET Q q 0 0 0 rg BT 564.51 424.60 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 412.60 Td (alleged damages are not quantified or factually supported in the complaint, and, in any event, the Company's experience shows that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 400.60 Td (demands for damages often bear little relation to a reasonable estimate of potential loss. ) Tj ET Q q 0 0 0 rg BT 384.81 400.60 Td (The matter is in the earliest stages of litigation, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 388.60 Td (with no substantive legal decisions by the court defining the scope of the claims or the potentially available damages; fact discovery is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 376.60 Td (also in its early stages. ) Tj ET Q q 0 0 0 rg BT 123.71 376.60 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 173.04 376.60 Td (, management cannot reasonably estimate the possible loss or range of loss, if any) Tj ET Q q 0 0 0 rg BT 499.81 376.60 Td (, or predict the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 364.60 Td (timing of the eventual resolution of this matter) Tj ET Q q 0 0 0 rg BT 217.30 364.60 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 346.60 Td (Mutual Funds Litigation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.84 346.60 Td ( - In February 201) Tj ET Q q 0 0 0 rg BT 202.23 346.60 Td (1, a derivative action was brought on behalf of six Hartford retail mutual funds in the United ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 334.60 Td (States District Court for the District of New Jersey) Tj ET Q q 0 0 0 rg BT 233.58 334.60 Td (, alleging that Hartford Investment Financial Services, LLC \(HIFSCO\), an indirect ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 322.60 Td (subsidiary of the Company) Tj ET Q q 0 0 0 rg BT 138.89 322.60 Td (, received excessive advisory and distribution fees in violation of its statutory fiduciary duty under Section 36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 310.60 Td (\(b\) of the Investment Company ) Tj ET Q q 0 0 0 rg BT 158.98 310.60 Td (Act of 1940. HIFSCO moved to dismiss and, in September 201) Tj ET Q q 0 0 0 rg BT 414.42 310.60 Td (1, the motion was granted in part and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 298.60 Td (denied in part, with leave to amend the complaint. In November 201) Tj ET Q q 0 0 0 rg BT 307.16 298.60 Td (1, plaintif) Tj ET Q q 0 0 0 rg BT 345.86 298.60 Td (fs filed an amended complaint on behalf of ) Tj ET Q q 0 0 0 rg BT 520.06 298.60 Td (The Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 286.60 Td (Global Health Fund, ) Tj ET Q q 0 0 0 rg BT 115.75 286.60 Td (The Hartford Conservative ) Tj ET Q q 0 0 0 rg BT 225.44 286.60 Td (Allocation Fund, ) Tj ET Q q 0 0 0 rg BT 295.53 286.60 Td (The Hartford Growth Opportunities Fund, ) Tj ET Q q 0 0 0 rg BT 466.44 286.60 Td (The Hartford Inflation Plus ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 274.60 Td (Fund, ) Tj ET Q q 0 0 0 rg BT 56.88 274.60 Td (The Hartford ) Tj ET Q q 0 0 0 rg BT 111.30 274.60 Td (Advisors Fund, and ) Tj ET Q q 0 0 0 rg BT 192.24 274.60 Td (The Hartford Capital ) Tj ET Q q 0 0 0 rg BT 278.04 274.60 Td (Appreciation Fund. Plaintif) Tj ET Q q 0 0 0 rg BT 390.07 274.60 Td (fs seek to rescind the investment management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 262.60 Td (agreements and distribution plans between HIFSCO and these funds and to recover the total fees char) Tj ET Q q 0 0 0 rg BT 437.59 262.60 Td (ged thereunder or) Tj ET Q q 0 0 0 rg BT 507.71 262.60 Td (, in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 250.60 Td (alternative, to recover any improper compensation HIFSCO received, in addition to lost earnings. HIFSCO filed a partial motion to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 238.60 Td (dismiss the amended complaint and, in December 2012, the court dismissed without prejudice the claims regarding distribution fees and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 226.60 Td (denied the motion with respect to the advisory fees claims. In February 2014, the plaintif) Tj ET Q q 0 0 0 rg BT 389.28 226.60 Td (fs expressed their intent to file a new complaint ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 214.60 Td (that would, among other things, add as new plaintif) Tj ET Q q 0 0 0 rg BT 236.84 214.60 Td (fs ) Tj ET Q q 0 0 0 rg BT 246.38 214.60 Td (The Hartford Floating Rate Fund and ) Tj ET Q q 0 0 0 rg BT 397.83 214.60 Td (The Hartford Small Company Fund and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 202.60 Td (name as a defendant Hartford Funds Management Company) Tj ET Q q 0 0 0 rg BT 272.17 202.60 Td (, LLC \(HFMC\), which assumed the role as advisor to the funds as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 190.60 Td (January 2013. HFMC and HIFSCO dispute the allegations and intend to defend vigorously) Tj ET Q q 0 0 0 rg BT 396.92 190.60 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 172.60 Td (Asbestos and Envir) Tj ET Q q 0 0 0 rg BT 108.35 172.60 Td (onmental Claims) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.40 172.60 Td ( - ) Tj ET Q q 0 0 0 rg BT 184.18 172.60 Td (As discussed in PartII, Item7, MD&A) Tj ET Q q 0 0 0 rg BT 340.56 172.60 Td ( - Critical ) Tj ET Q q 0 0 0 rg BT 380.83 172.60 Td (Accounting Estimates - Property and Casualty ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 160.60 Td (Insurance Product Reserves, Net of Reinsurance - Reserving for ) Tj ET Q q 0 0 0 rg BT 289.75 160.60 Td (Asbestos and Environmental Claims within Property & Casualty Other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 148.60 Td (Operations, ) Tj ET Q q 0 0 0 rg BT 80.20 148.60 Td (The Hartford continues to receive asbestos and environmental claims that involve significant uncertainty regarding policy ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 136.60 Td (coverage issues. Regarding these claims, ) Tj ET Q q 0 0 0 rg BT 197.10 136.60 Td (The Hartford continually reviews its overall reserve levels and reinsurance coverages, as well ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 124.60 Td (as the methodologies it uses to estimate its exposures. Because of the significant uncertainties that limit the ability of insurers and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 112.60 Td (reinsurers to estimate the ultimate reserves necessary for unpaid losses and related expenses, particularly those related to asbestos, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 100.60 Td (ultimate liabilities may exceed the currently recorded reserves. ) Tj ET Q q 0 0 0 rg BT 284.45 100.60 Td (Any such additional liability cannot be reasonably estimated now but ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 88.60 Td (could be material to ) Tj ET Q q 0 0 0 rg BT 113.51 88.60 Td (The Hartford's consolidated operating results and liquidity) Tj ET Q q 0 0 0 rg BT 346.28 88.60 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 70.55 Td (Item 4. MINE SAFETY) Tj ET Q q 0 0 0 rg BT 132.79 70.55 Td ( DISCLOSURES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 53.55 Td (Not ) Tj ET Q q 0 0 0 rg BT 49.00 53.55 Td (applicable.) 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.35 Td (The ) Tj ET Q q 0 0 0 rg BT 49.27 641.35 Td (following ) Tj ET Q q 0 0 0 rg BT 90.39 641.35 Td (table ) Tj ET Q q 0 0 0 rg BT 112.05 641.35 Td (presents ) Tj ET Q q 0 0 0 rg BT 147.05 641.35 Td (the ) Tj ET Q q 0 0 0 rg BT 161.49 641.35 Td (high ) Tj ET Q q 0 0 0 rg BT 181.50 641.35 Td (and ) Tj ET Q q 0 0 0 rg BT 198.17 641.35 Td (low ) Tj ET Q q 0 0 0 rg BT 215.39 641.35 Td (closing ) Tj ET Q q 0 0 0 rg BT 246.51 641.35 Td (prices ) Tj ET Q q 0 0 0 rg BT 272.61 641.35 Td (for ) Tj ET Q q 0 0 0 rg BT 286.50 641.35 Td (the ) Tj ET Q q 0 0 0 rg BT 300.95 641.35 Td (common ) Tj ET Q q 0 0 0 rg BT 338.17 641.35 Td (stock ) Tj ET Q q 0 0 0 rg BT 361.51 641.35 Td (of ) Tj ET Q q 0 0 0 rg BT 371.90 641.35 Td (The ) Tj ET Q q 0 0 0 rg BT 389.68 641.35 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 426.33 641.35 Td (on ) Tj ET Q q 0 0 0 rg BT 438.56 641.35 Td (the ) Tj ET Q q 0 0 0 rg BT 453.01 641.35 Td (NYSE ) Tj ET Q q 0 0 0 rg BT 481.35 641.35 Td (for ) Tj ET Q q 0 0 0 rg BT 495.24 641.35 Td (the ) Tj ET Q q 0 0 0 rg BT 509.68 641.35 Td (periods ) Tj ET Q q 0 0 0 rg BT 541.35 641.35 Td (indicated, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.35 Td (and ) Tj ET Q q 0 0 0 rg BT 48.44 629.35 Td (the ) Tj ET Q q 0 0 0 rg BT 63.16 629.35 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 101.75 629.35 Td (dividends ) Tj ET Q q 0 0 0 rg BT 143.14 629.35 Td (declared ) Tj ET Q q 0 0 0 rg BT 179.50 629.35 Td (per ) Tj ET Q q 0 0 0 rg BT 194.77 629.35 Td (share.) 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Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.65 605.25 Td (2) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 354.15 609.33 Td (nd) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 360.66 605.25 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 362.91 605.25 Td (Qtr) Tj ET Q q 0 0 0 rg BT 376.07 605.25 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.95 605.25 Td (3) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 419.45 609.33 Td (rd) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 425.30 605.25 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.55 605.25 Td (Qtr) Tj ET Q q 0 0 0 rg BT 440.72 605.25 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.30 605.25 Td (4) Tj ET Q BT /F3 9.00 Tf ET BT /F3 5.85 Tf ET q 0 0 0 rg BT 484.80 609.33 Td (th) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 490.00 605.25 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 492.25 605.25 Td (Qtr) Tj ET Q q 0 0 0 rg BT 505.42 605.25 Td (.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 593.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 580.47 Td (Common Stock Price) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 568.47 Td (High) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 568.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 568.47 Td (26.46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.50 568.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.65 568.47 Td (31.43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 568.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.65 568.47 Td (32.30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.50 568.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.65 568.47 Td (36.62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 556.47 Td (Low) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 556.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 556.47 Td (23.05) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.50 556.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.65 556.47 Td (24.82) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 556.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.65 556.47 Td (29.60) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.50 556.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.65 556.47 Td (30.68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 544.47 Td (Dividends Declared) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 544.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.65 544.47 Td (0.10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.50 544.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 544.47 Td (0.10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 544.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.65 544.47 Td (0.15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.50 544.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.65 544.47 Td (0.15) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 533.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 520.47 Td (Common Stock Price) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 508.47 Td (High) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 508.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 508.47 Td (22.02) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.50 508.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.65 508.47 Td (21.95) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 508.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.65 508.47 Td (20.34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.50 508.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.65 508.47 Td (22.88) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 496.47 Td (Low) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 496.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 496.47 Td (16.37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.50 496.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.65 496.47 Td (16.10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 496.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.65 496.47 Td (15.93) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.50 496.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.65 496.47 Td (19.41) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 484.47 Td (Dividends Declared) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 484.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.65 484.47 Td (0.10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.50 484.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 484.47 Td (0.10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 484.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.65 484.47 Td (0.10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.50 484.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.65 484.47 Td (0.10) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 465.35 Td (On ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.22 465.35 Td (February27, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 119.82 465.35 Td (, ) Tj ET Q q 0 0 0 rg BT 124.64 465.35 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 179.89 465.35 Td (s Board of Directors declared a quarterly dividend of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.98 465.35 Td ($0.15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.48 465.35 Td ( per common share payable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 453.35 Td (on) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.45 453.35 Td (April1,2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 97.06 453.35 Td ( to common shareholders of record as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.89 453.35 Td (March10, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.49 453.35 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 436.35 Td (As of February24, 2014, the Company had approximately 239,200 shareholders. ) Tj ET Q q 0 0 0 rg BT 358.20 436.35 Td (The closing price of ) Tj ET Q q 0 0 0 rg BT 440.77 436.35 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 496.02 436.35 Td (s common stock on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 424.35 Td (the NYSE on February24, 2014 was $34.64. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.35 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 407.35 Td (s Chief Executive Of) Tj ET Q q 0 0 0 rg BT 175.17 407.35 Td (ficer has certified to the NYSE that he is not aware of any violation by the Company of NYSE ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.35 Td (corporate governance listing standards, as required by Section 303A.12\(a\) of the NYSE) Tj ET Q q 0 0 0 rg BT 385.01 395.35 Td (s Listed Company Manual.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 378.35 Td (There are also various legal and regulatory limitations governing the extent to which ) Tj ET Q q 0 0 0 rg BT 372.05 378.35 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 427.30 378.35 Td (s insurance subsidiaries may extend ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 366.35 Td (credit, pay dividends or otherwise provide funds to ) Tj ET Q q 0 0 0 rg BT 237.66 366.35 Td (The Hartford Financial Services Group, Inc. as discussed in PartII, Item7, MD&A) Tj ET Q q 0 0 0 rg BT 570.64 366.35 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 354.35 Td ( Capital Resources and Liquidity Liquidity Requirements and Sources of Capital.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 337.35 Td (See PartIII, Item12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters, for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 325.35 Td (information related to securities authorized for issuance under equity compensation plans.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 308.35 Td (Purchases ) Tj ET Q q 0 0 0 rg BT 76.78 308.35 Td (of ) Tj ET Q q 0 0 0 rg BT 87.61 308.35 Td (Equity ) Tj ET Q q 0 0 0 rg BT 117.34 308.35 Td (Securities ) Tj ET Q q 0 0 0 rg BT 160.40 308.35 Td (by ) Tj ET Q q 0 0 0 rg BT 172.33 308.35 Td (the ) Tj ET Q q 0 0 0 rg BT 187.61 308.35 Td (Issuer) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 291.35 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 291.35 Td (following ) Tj ET Q q 0 0 0 rg BT 90.93 291.35 Td (table ) Tj ET Q q 0 0 0 rg BT 112.87 291.35 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 163.13 291.35 Td (the ) Tj ET Q q 0 0 0 rg BT 177.85 291.35 Td (Company) Tj ET Q q 0 0 0 rg BT 219.51 291.35 Td (s ) Tj ET Q q 0 0 0 rg BT 225.90 291.35 Td (repurchases ) Tj ET Q q 0 0 0 rg BT 275.60 291.35 Td (of ) Tj ET Q q 0 0 0 rg BT 286.43 291.35 Td (its ) Tj ET Q q 0 0 0 rg BT 298.38 291.35 Td (common ) Tj ET Q q 0 0 0 rg BT 335.88 291.35 Td (stock ) Tj ET Q q 0 0 0 rg BT 359.48 291.35 Td (for ) Tj ET Q q 0 0 0 rg BT 373.64 291.35 Td (the ) Tj ET Q q 0 0 0 rg BT 388.36 291.35 Td (three ) Tj ET Q q 0 0 0 rg BT 410.85 291.35 Td (months ) Tj ET Q q 0 0 0 rg BT 442.79 291.35 Td (ended ) Tj ET Q q 0 0 0 rg BT 469.17 291.35 Td (December31, ) Tj ET Q q 0 0 0 rg BT 527.75 291.35 Td (2013:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 210.85 190.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 210.85 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 210.85 20.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.00 210.85 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 210.85 92.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 210.85 108.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 186.85 190.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 186.85 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 186.85 20.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.00 186.85 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 186.85 92.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 186.85 108.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 222.85000000000002 m 222 222.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 222.85000000000002 m 302 222.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 222.85000000000002 m 378 222.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 222.85000000000002 m 470 222.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 222.85000000000002 m 578 222.85000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 222.85000000000002 m 222 222.85000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 222 222.85000000000002 m 302 222.85000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 302 222.85000000000002 m 322 222.85000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322 222.85000000000002 m 378 222.85000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378 222.85000000000002 m 470 222.85000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470 222.85000000000002 m 578 222.85000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 174.85000000000002 m 222 174.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 162.85000000000002 m 222 162.85000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 222 174.85000000000002 m 302 174.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 162.85000000000002 m 302 162.85000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378 174.85000000000002 m 470 174.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 162.85000000000002 m 470 162.85000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 113.75 227.30 Td (Period) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 229.70 236.30 Td (Total Number of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 227.25 227.30 Td (Shares Purchased) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 333.80 245.30 Td (A) Tj ET Q q 0 0 0 rg BT 339.63 245.30 Td (verage) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 329.60 236.30 Td (Price Paid ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 330.75 227.30 Td (per) Tj ET Q q 0 0 0 rg BT 343.58 227.30 Td ( Shar) Tj ET Q q 0 0 0 rg BT 364.17 227.30 Td (e) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.70 263.30 Td (T) Tj ET Q q 0 0 0 rg BT 396.88 263.30 Td (otal Number) Tj ET Q q 0 0 0 rg BT 445.46 263.30 Td ( of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.25 254.30 Td (Shar) Tj ET Q q 0 0 0 rg BT 407.59 254.30 Td (es Pur) Tj ET Q q 0 0 0 rg BT 431.67 254.30 Td (chased) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.10 245.30 Td (as Part of Publicly) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.55 236.30 Td (Announced Plans or) Tj ET Q q 0 0 0 rg BT 462.40 236.30 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.55 227.30 Td (Pr) Tj ET Q q 0 0 0 rg BT 413.88 227.30 Td (ograms) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.75 263.30 Td (Appr) Tj ET Q q 0 0 0 rg BT 505.09 263.30 Td (oximate Dollar) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.85 254.30 Td (V) Tj ET Q q 0 0 0 rg BT 490.52 254.30 Td (alue of Shar) Tj ET Q q 0 0 0 rg BT 536.86 254.30 Td (es that) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.40 245.30 Td (May ) Tj ET Q q 0 0 0 rg BT 520.81 245.30 Td (Y) Tj ET Q q 0 0 0 rg BT 526.31 245.30 Td (et Be) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 490.00 236.30 Td (Pur) Tj ET Q q 0 0 0 rg BT 504.33 236.30 Td (chased Under) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 474.15 227.30 Td (the Plans or) Tj ET Q q 0 0 0 rg BT 519.98 227.30 Td ( Pr) Tj ET Q q 0 0 0 rg BT 531.56 227.30 Td (ograms [1]) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 503.60 214.80 Td (\(inmillions\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.25 201.47 Td (October1, 2013 October31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.15 201.47 Td (2,331,663) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.50 201.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.65 201.47 Td (32.77) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.50 201.47 Td (2,331,663) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.50 201.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 201.47 Td (766) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 44.25 189.47 Td (November1, 2013 November30, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.15 189.47 Td (1,787,466) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.50 189.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.65 189.47 Td (34.69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.50 189.47 Td (1,787,466) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.50 189.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 189.47 Td (704) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.40 177.47 Td (December1, 2013 December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.15 177.47 Td (2,597,635) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.50 177.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.65 177.47 Td (34.44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.50 177.47 Td (2,435,940) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.50 177.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 177.47 Td (617) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 115.55 165.58 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 258.15 165.58 Td (6,716,764) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 324.50 165.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 351.65 165.58 Td (33.93) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 403.50 165.58 Td (6,555,069) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 147.60 Td ([1] ) Tj ET Q q 0 0 0 rg BT 54.00 147.60 Td (On January 31, 2013 the Company) Tj ET Q q 0 0 0 rg BT 182.32 147.60 Td (s Boar) Tj ET Q q 0 0 0 rg BT 205.74 147.60 Td (d of Dir) Tj ET Q q 0 0 0 rg BT 233.91 147.60 Td (ectors authorized a $500 equity r) Tj ET Q q 0 0 0 rg BT 353.31 147.60 Td (epur) Tj ET Q q 0 0 0 rg BT 369.47 147.60 Td (chase pr) Tj ET Q q 0 0 0 rg BT 399.88 147.60 Td (ogram. On June 26, 2013, the Boar) Tj ET Q q 0 0 0 rg BT 527.29 147.60 Td (d of Dir) Tj ET Q q 0 0 0 rg BT 555.46 147.60 Td (ectors ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 135.60 Td (appr) Tj ET Q q 0 0 0 rg BT 70.67 135.60 Td (oved a $750 incr) Tj ET Q q 0 0 0 rg BT 131.07 135.60 Td (ease in the Company's authorized equity r) Tj ET Q q 0 0 0 rg BT 282.14 135.60 Td (epur) Tj ET Q q 0 0 0 rg BT 298.31 135.60 Td (chase pr) Tj ET Q q 0 0 0 rg BT 328.72 135.60 Td (ogram. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 358.97 135.60 Td (I) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 362.30 135.60 Td (n January 2014, the Boar) Tj ET Q q 0 0 0 rg BT 454.20 135.60 Td (d of Dir) Tj ET Q q 0 0 0 rg BT 482.37 135.60 Td (ectors appr) Tj ET Q q 0 0 0 rg BT 523.28 135.60 Td (oved an ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 124.80 Td (incr) Tj ET Q q 0 0 0 rg BT 68.16 124.80 Td (ease in the Company's authorized equity r) Tj ET Q q 0 0 0 rg BT 219.23 124.80 Td (epur) Tj ET Q q 0 0 0 rg BT 235.40 124.80 Td (chase pr) Tj ET Q q 0 0 0 rg BT 265.81 124.80 Td (ogram by an amount that, when combined with the amount r) Tj ET Q q 0 0 0 rg BT 483.21 124.80 Td (emaining under the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 114.00 Td (existing authorization, pr) Tj ET Q q 0 0 0 rg BT 144.92 114.00 Td (ovides the Company with the ability to r) Tj ET Q q 0 0 0 rg BT 288.82 114.00 Td (epur) Tj ET Q q 0 0 0 rg BT 304.98 114.00 Td (chase $2 billion in equity during the period commencing on January 1, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 103.20 Td (2014 and ending on December 31, 2015. The Company) Tj ET Q q 0 0 0 rg BT 255.31 103.20 Td (s r) Tj ET Q q 0 0 0 rg BT 264.23 103.20 Td (epur) Tj ET Q q 0 0 0 rg BT 280.39 103.20 Td (chase authorization, permits pur) Tj ET Q q 0 0 0 rg BT 397.56 103.20 Td (chases of common stock, as well as warrants or ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 92.40 Td (other derivative securities. Repur) Tj ET Q q 0 0 0 rg BT 174.13 92.40 Td (chases may be made in the open market, thr) Tj ET Q q 0 0 0 rg BT 332.01 92.40 Td (ough derivative, accelerated shar) Tj ET Q q 0 0 0 rg BT 452.64 92.40 Td (e r) Tj ET Q q 0 0 0 rg BT 462.05 92.40 Td (epur) Tj ET Q q 0 0 0 rg BT 478.22 92.40 Td (chase and other privately ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 81.60 Td (negotiated transactions, and thr) Tj ET Q q 0 0 0 rg BT 169.16 81.60 Td (ough plans designed to comply with Rule 10b5-1\(c\) under the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 468.93 81.60 Td (Act of 1934, as amended. The ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 70.80 Td (timing of any futur) Tj ET Q q 0 0 0 rg BT 120.92 70.80 Td (e r) Tj ET Q q 0 0 0 rg BT 130.33 70.80 Td (epur) Tj ET Q q 0 0 0 rg BT 146.49 70.80 Td (chases will be dependent upon several factors, including the market price of the Company) Tj ET Q q 0 0 0 rg BT 472.76 70.80 Td (s securities, the Company) Tj ET Q q 0 0 0 rg BT 567.09 70.80 Td (s ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 60.00 Td (capital position, consideration of the effect of any r) Tj ET Q q 0 0 0 rg BT 238.39 60.00 Td (epur) Tj ET Q q 0 0 0 rg BT 254.55 60.00 Td (chases on the Company) Tj ET Q q 0 0 0 rg BT 341.63 60.00 Td (s financial str) Tj ET Q q 0 0 0 rg BT 390.80 60.00 Td (ength or cr) Tj ET Q q 0 0 0 rg BT 430.46 60.00 Td (edit ratings, and other corporate ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 49.20 Td (considerations. The r) Tj ET Q q 0 0 0 rg BT 130.42 49.20 Td (epur) Tj ET Q q 0 0 0 rg BT 146.58 49.20 Td (chase pr) Tj ET Q q 0 0 0 rg BT 176.99 49.20 Td (ogram may be modified, extended or terminated by the Boar) Tj ET Q q 0 0 0 rg BT 394.11 49.20 Td (d of Dir) Tj ET Q q 0 0 0 rg BT 422.27 49.20 Td (ectors at any time.) Tj ET Q endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (31) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (T) Tj ET Q q 0 0 0 rg BT 36.69 713.25 Td (otal ) Tj ET Q q 0 0 0 rg BT 54.75 713.25 Td (Return ) Tj ET Q q 0 0 0 rg BT 86.15 713.25 Td (to ) Tj ET Q q 0 0 0 rg BT 96.43 713.25 Td (Shareholders) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 696.25 Td (The following tables present ) Tj ET Q q 0 0 0 rg BT 147.96 696.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 203.21 696.25 Td (s annual percentage return and five-year total return on its common stock including ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 684.25 Td (reinvestment of dividends in comparison to the S&P) Tj ET Q q 0 0 0 rg BT 240.83 684.25 Td ( 500 and the S&P) Tj ET Q q 0 0 0 rg BT 311.01 684.25 Td ( Insurance Composite Index.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 632.75 183.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 632.75 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 632.75 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.00 632.75 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 632.75 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 632.75 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 608.75 183.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 608.75 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 608.75 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.00 608.75 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 608.75 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 608.75 62.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 656.75 m 215 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 656.75 m 277 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 656.75 m 339 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 656.75 m 401 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 656.75 m 463 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 656.75 m 525 656.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 644.75 m 277 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 644.75 m 339 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 644.75 m 401 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 644.75 m 463 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 644.75 m 525 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 632.75 m 215 632.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 644.75 m 277 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 632.75 m 277 632.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 644.75 m 339 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 632.75 m 339 632.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 644.75 m 401 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 632.75 m 401 632.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 644.75 m 463 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 632.75 m 463 632.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 644.75 m 525 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 632.75 m 525 632.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 632.75 m 277 632.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 632.75 m 339 632.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 632.75 m 401 632.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 632.75 m 463 632.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 632.75 m 525 632.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 226.55 660.15 Td (Annual Return Percentage) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 648.01 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 331.45 648.15 Td (For the years ended) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 636.15 Td (Company/Index) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.50 636.15 Td (2009) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 298.50 636.15 Td (2010) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 360.70 636.15 Td (2011) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 422.50 636.15 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.50 636.15 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 623.37 Td (The Hartford Financial Services Group, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.65 623.37 Td (43.91) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.15 623.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.65 623.37 Td (14.89) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 623.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.95 623.37 Td (\(37.55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.80 623.37 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.65 623.37 Td (41.01) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 623.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 623.37 Td (64.12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.15 623.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 611.37 Td (S&P 500 Index) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.65 611.37 Td (26.46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.15 611.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.65 611.37 Td (15.06) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 611.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.30 611.37 Td (2.11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.15 611.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.65 611.37 Td (16.00) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 611.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 611.37 Td (32.39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.15 611.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 599.37 Td (S&P Insurance Composite Index) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.65 599.37 Td (13.90) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.15 599.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.65 599.37 Td (15.80) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 599.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.95 599.37 Td (\(8.28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.80 599.37 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.65 599.37 Td (19.09) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 599.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 599.37 Td (46.71) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.15 599.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 537.75 183.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 537.75 51.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.00 537.75 52.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.00 537.75 52.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 537.75 52.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 537.75 51.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 537.75 52.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 515.75 183.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 515.75 51.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.00 515.75 52.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.00 515.75 52.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 515.75 52.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 422.00 515.75 51.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 515.75 52.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 570.75 m 215 570.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 215 570.75 m 266 570.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 266 570.75 m 318 570.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318 570.75 m 370 570.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 570.75 m 422 570.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 422 570.75 m 473 570.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473 570.75 m 525 570.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 266 548.75 m 318 548.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318 548.75 m 370 548.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 548.75 m 422 548.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 422 548.75 m 473 548.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473 548.75 m 525 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 537.75 m 215 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 537.75 m 266 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 548.75 m 318 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 537.75 m 318 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 548.75 m 370 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 537.75 m 370 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 548.75 m 422 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 537.75 m 422 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422 548.75 m 473 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422 537.75 m 473 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 548.75 m 525 548.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 537.75 m 525 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 537.75 m 370 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 537.75 m 422 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422 537.75 m 473 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 537.75 m 525 537.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 209.95 573.20 Td (Cumulative Five-Year Total Return) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.00 562.20 Td (Base) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 227.25 551.20 Td (Period) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 356.95 551.20 Td (For the years ended) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 540.20 Td (Company/Index) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.00 540.20 Td (2008) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.50 540.20 Td (2009) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.50 540.20 Td (2010) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 386.70 540.20 Td (2011) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.00 540.20 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 489.50 540.20 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 528.37 Td (The Hartford Financial Services Group, Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.50 528.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 247.15 528.37 Td (100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.65 528.37 Td (143.91) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.65 528.37 Td (165.34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 528.37 Td (103.26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 528.37 Td (145.61) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 528.37 Td (238.98) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 517.37 Td (S&P 500 Index) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.50 517.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 247.15 517.37 Td (100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.65 517.37 Td (126.46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.65 517.37 Td (145.51) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 517.37 Td (148.59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 517.37 Td (172.37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 517.37 Td (228.19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 506.37 Td (S&P Insurance Composite Index) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.50 506.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 247.15 506.37 Td (100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.65 506.37 Td (113.90) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.65 506.37 Td (131.89) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 506.37 Td (120.97) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 506.37 Td (144.07) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 506.37 Td (211.36) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET /GS0 gs q 494.00 0 0 365.00 31.50 130.25 cm /I14 Do Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (32) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Item 6. ) Tj ET Q q 0 0 0 rg BT 85.50 713.25 Td (SELECTED FINANCIAL) Tj ET Q q 0 0 0 rg BT 197.47 713.25 Td ( DA) Tj ET Q q 0 0 0 rg BT 213.67 713.25 Td (T) Tj ET Q q 0 0 0 rg BT 219.60 713.25 Td (A) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 701.25 Td (\(In ) Tj ET Q q 0 0 0 rg BT 45.66 701.25 Td (millions, ) Tj ET Q q 0 0 0 rg BT 82.89 701.25 Td (except ) Tj ET Q q 0 0 0 rg BT 110.92 701.25 Td (for ) Tj ET Q q 0 0 0 rg BT 125.09 701.25 Td (per ) Tj ET Q q 0 0 0 rg BT 140.92 701.25 Td (shar) Tj ET Q q 0 0 0 rg BT 158.33 701.25 Td (e ) Tj ET Q q 0 0 0 rg BT 165.27 701.25 Td (data\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (The following table sets forth the Company's selected consolidated financial data at the dates and for the periods indicated below) Tj ET Q q 0 0 0 rg BT 546.66 683.25 Td (. ) Tj ET Q q 0 0 0 rg BT 551.48 683.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (selected financial data should be read in conjunction with Management) Tj ET Q q 0 0 0 rg BT 318.90 671.25 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 388.07 671.25 Td (Analysis of Financial Condition and Results of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (Operations \("MD&A"\) presented in Item 7. and the Company's Consolidated Financial Statements and the related Notes beginning on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (page F-1. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 603.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 603.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 573.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 573.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 543.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 543.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 513.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 513.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 483.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 483.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 453.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 453.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 423.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 423.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 423.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 423.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 423.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 423.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 393.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 393.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 363.75 309.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 363.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 363.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 363.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 363.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 363.75 48.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 603.75 m 389 603.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 603.75 m 437 603.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 603.75 m 485 603.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 603.75 m 533 603.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 533 603.75 m 581 603.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 603.75 m 485 603.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 603.75 m 533 603.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 533 603.75 m 581 603.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 528.75 m 341 528.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 528.75 m 389 528.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 528.75 m 437 528.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 528.75 m 485 528.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 528.75 m 533 528.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 533 528.75 m 581 528.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 498.75 m 341 498.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 498.75 m 389 498.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 498.75 m 437 498.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 498.75 m 485 498.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 498.75 m 533 498.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 533 498.75 m 581 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 483.75 m 341 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 483.75 m 389 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 483.75 m 437 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 483.75 m 485 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 483.75 m 533 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533 483.75 m 581 483.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 393.75 m 341 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 393.75 m 389 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 393.75 m 437 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 393.75 m 485 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 393.75 m 533 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533 393.75 m 581 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 393.75 m 437 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 393.75 m 485 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 393.75 m 533 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533 393.75 m 581 393.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 333.75 m 341 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 333.75 m 389 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 333.75 m 437 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 333.75 m 485 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 333.75 m 533 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533 333.75 m 581 333.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 355.50 608.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 403.50 608.20 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 451.70 608.20 Td (2011) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.50 608.20 Td (2010) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.50 608.20 Td (2009) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 593.43 Td (Income Statement Data) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.50 593.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.50 593.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 593.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 593.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.50 593.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 578.42 Td (Total revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.50 578.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 357.60 578.43 Td (26,236) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.50 578.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.60 578.42 Td (26,122) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 578.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.60 578.42 Td (21,733) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 578.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.60 578.42 Td (21,770) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.50 578.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.60 578.42 Td (24,004) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 563.42 Td (Income \(loss\)from continuing operations before income taxes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 375.15 563.43 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.80 563.47 Td (\(581) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 563.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 563.42 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 563.42 Td (2,272) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.30 563.42 Td (\(1,515) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 563.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 548.42 Td (Income \(loss\)from continuing operations, net of tax) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.15 548.43 Td (310) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.80 548.47 Td (\(100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 548.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 548.42 Td (573) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 548.42 Td (1,704) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 548.42 Td (\(710) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 548.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 533.42 Td (Income \(loss\)from discontinued operations, net of tax) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 366.80 533.48 Td (\(134) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 385.15 533.43 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 533.42 Td (62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 533.42 Td (139) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.80 533.47 Td (\(68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 533.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 533.42 Td (\(59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 533.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 518.42 Td (Net income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.50 518.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.15 518.43 Td (176) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.50 518.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.80 518.47 Td (\(38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 518.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 518.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 518.42 Td (712) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 518.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 518.42 Td (1,636) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.50 518.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 518.42 Td (\(769) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 518.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 503.42 Td (Preferred stock dividends and accretion of discount) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 375.15 503.43 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 503.42 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 503.42 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 503.42 Td (515) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 503.42 Td (127) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 488.42 Td (Net income \(loss\)available to common shareholders) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.50 488.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.15 488.43 Td (166) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.50 488.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.80 488.47 Td (\(80) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 488.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 488.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 488.42 Td (670) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 488.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 488.42 Td (1,121) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.50 488.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 488.42 Td (\(896) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 488.42 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 473.43 Td (Balance Sheet Data) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 458.42 Td (Total assets) Tj 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(1.40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 353.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.65 353.42 Td (2.40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.50 353.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.30 353.42 Td (\(2.59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 353.42 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 338.43 Td (Cash dividends declared per common share) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.50 338.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.65 338.43 Td (0.50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.50 338.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.65 338.42 Td (0.40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 338.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.65 338.42 Td (0.40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 338.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.65 338.42 Td (0.20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.50 338.42 Td ($) Tj 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MANAGEMENTS DISCUSSION ) Tj ET Q q 0 0 0 rg BT 292.56 713.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 316.18 713.25 Td (ANAL) Tj ET Q q 0 0 0 rg BT 343.59 713.25 Td (YSIS OF) Tj ET Q q 0 0 0 rg BT 381.85 713.25 Td ( FINANCIAL) Tj ET Q q 0 0 0 rg BT 440.47 713.25 Td ( CONDITION) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 229.60 701.25 Td (AND RESUL) Tj ET Q q 0 0 0 rg BT 286.19 701.25 Td (TS OF) Tj ET Q q 0 0 0 rg BT 314.44 701.25 Td ( OPERA) Tj ET Q q 0 0 0 rg BT 351.20 701.25 Td (TIONS) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 147.15 689.25 Td (\(Dollar amounts in millions, except for per shar) Tj ET Q q 0 0 0 rg BT 338.99 689.25 Td (e data, unless otherwise stated\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (The Hartford provides projections and other forward-looking information in the following discussions, which contain many forward-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (looking statements, particularly relating to the Company) Tj ET Q q 0 0 0 rg BT 260.06 647.25 Td (s future financial performance. ) Tj ET Q q 0 0 0 rg BT 385.65 647.25 Td (These forward-looking statements are estimates ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (based on information currently available to the Company) Tj ET Q q 0 0 0 rg BT 259.40 635.25 Td (, are made pursuant to the safe harbor provisions of the Private Securities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (Litigation Reform ) Tj ET Q q 0 0 0 rg BT 105.93 623.25 Td (Act of 1995 and are subject to the cautionary statements set forth on pages 3 and 4 of this Form 10-K and the risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (factors set forth under Item1A) Tj ET Q q 0 0 0 rg BT 154.52 611.25 Td ( and other similar information contained in this Form 10-K and in other filings made from time to time by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (the Company with the SEC. ) Tj ET Q q 0 0 0 rg BT 145.39 599.25 Td (Actual results are likely to dif) Tj ET Q q 0 0 0 rg BT 264.34 599.25 Td (fer) Tj ET Q q 0 0 0 rg BT 275.04 599.25 Td (, and in the past have dif) Tj ET Q q 0 0 0 rg BT 372.88 599.25 Td (fered, materially from those forecast by the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (Company) Tj ET Q q 0 0 0 rg BT 69.74 587.25 Td (, depending on the outcome of various factors, including, but not limited to, those set forth in each discussion below and in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (Item1A, Risk Factors. ) Tj ET Q q 0 0 0 rg BT 127.14 575.25 Td (The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (new information, future developments or otherwise.) 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (On January 1, 2013, the Company completed the sale of its Retirement Plans business to Massachusetts Mutual Life Insurance Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (\("MassMutual"\) and on January 2, 2013 the Company completed the sale of its Individual Life insurance business to ) Tj ET Q q 0 0 0 rg BT 500.22 653.25 Td (The Prudential ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (Insurance Company of ) Tj ET Q q 0 0 0 rg BT 124.53 641.25 Td (America \("Prudential"\), a subsidiary of Prudential Financial, Inc. On December 12, 2013, the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (completed the sale of Hartford Life International Limited \("HLIL"\), which comprised the Company's U.K. variable annuity business, to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (Columbia Insurance Company) Tj ET Q q 0 0 0 rg BT 153.05 617.25 Td (, a Berkshire Hathaway company) Tj ET Q q 0 0 0 rg BT 285.41 617.25 Td (. For further discussion of these and other such transactions, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.34 617.25 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.34 617.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (Business Dispositions, Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 146.51 605.25 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.51 605.25 Td ( - Reinsurance and Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.64 605.25 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.64 605.25 Td ( - Discontinued Operations of Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (The Company derives its revenues principally from: \(a\)premiums earned for insurance coverages provided to insureds; \(b\)fee income, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (including asset management fees, on separate account and mutual fund assets and mortality and expense fees, as well as cost of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (insurance char) Tj ET Q q 0 0 0 rg BT 89.34 563.25 Td (ges; \(c\)net investment income; \(d\)fees earned for services provided to third parties; and \(e\)net realized capital gains and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (losses. Premiums char) Tj ET Q q 0 0 0 rg BT 120.47 551.25 Td (ged for insurance coverages are earned principally on a pro rata basis over the terms of the related policies in-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (force. ) Tj ET Q q 0 0 0 rg BT 56.49 539.25 Td (Asset management fees and mortality and expense fees are primarily generated from separate account assets. Cost of insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (char) Tj ET Q q 0 0 0 rg BT 48.53 527.25 Td (ges are assessed on the net amount at risk for investment-oriented life insurance products. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (The profitability of the Company's property and casualty insurance businesses over time is greatly influenced by the Company) Tj ET Q q 0 0 0 rg BT 540.12 509.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.25 Td (underwriting discipline, which seeks to manage exposure to loss through favorable risk selection and diversification, its management of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.25 Td (claims, its use of reinsurance, the size of its in force block, actual mortality and morbidity experience, and its ability to manage its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (expense ratio which it accomplishes through economies of scale and its management of acquisition costs and other underwriting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (expenses. Pricing adequacy depends on a number of factors, including the ability to obtain regulatory approval for rate changes, proper ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (evaluation of underwriting risks, the ability to project future loss cost frequency and severity based on historical loss experience adjusted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (for known trends, the Company) Tj ET Q q 0 0 0 rg BT 161.20 437.25 Td (s response to rate actions taken by competitors, and expectations about regulatory and legal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (developments and expense levels. ) Tj ET Q q 0 0 0 rg BT 169.33 425.25 Td (The Company seeks to price its insurance policies such that insurance premiums and future net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (investment income earned on premiums received will cover underwriting expenses and the ultimate cost of paying claims reported on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (the policies and provide for a profit mar) Tj ET Q q 0 0 0 rg BT 190.99 401.25 Td (gin. For many of its insurance products, the Company is required to obtain approval for its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (premium rates from state insurance departments.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.25 Td (The financial results in the Company) Tj ET Q q 0 0 0 rg BT 182.30 371.25 Td (s variable annuity and mutual fund businesses depend lar) Tj ET Q q 0 0 0 rg BT 410.39 371.25 Td (gely on the amount of the contract holder ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.25 Td (or shareholder account value or assets under management on which it earns fees and the level of fees char) Tj ET Q q 0 0 0 rg BT 454.48 359.25 Td (ged. Changes in account value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (or assets under management are driven by two main factors: net flows, which measure the success of the Company) Tj ET Q q 0 0 0 rg BT 493.86 347.25 Td (s asset gathering and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (retention ef) Tj ET Q q 0 0 0 rg BT 77.13 335.25 Td (forts, and the market return of the funds, which is heavily influenced by the return realized in the equity markets. Net flows ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.25 Td (are comprised of deposits less surrenders, death benefits, policy char) Tj ET Q q 0 0 0 rg BT 305.95 323.25 Td (ges and annuitizations of investment type contracts, such as variable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.25 Td (annuity contracts. In the mutual fund business, net flows are known as net sales. Net sales are comprised of new sales less redemptions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.25 Td (by mutual fund customers. ) Tj ET Q q 0 0 0 rg BT 140.47 299.25 Td (The Company uses the average daily value of the S&P) Tj ET Q q 0 0 0 rg BT 358.65 299.25 Td ( 500 Index as an indicator for evaluating market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.25 Td (returns of the underlying account portfolios in the United States. Relative financial results of variable products are highly correlated to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (the growth in account values or assets under management since these products generally earn fee income on a daily basis. Equity market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.25 Td (movements could also result in benefits for or char) Tj ET Q q 0 0 0 rg BT 234.60 263.25 Td (ges against deferred acquisition costs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.25 Td (The profitability of fixed annuities and other spread-based products depends lar) Tj ET Q q 0 0 0 rg BT 358.43 245.25 Td (gely on the Company) Tj ET Q q 0 0 0 rg BT 447.03 245.25 Td (s ability to earn tar) Tj ET Q q 0 0 0 rg BT 521.82 245.25 Td (get spreads ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (between earned investment rates on its general account assets and interest credited to policyholders. In addition, the size and persistency ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.25 Td (of gross profits from these businesses is an important driver of earnings as it af) Tj ET Q q 0 0 0 rg BT 346.81 221.25 Td (fects the rate of amortization of deferred policy ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.25 Td (acquisition costs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.25 Td (The investment return, or yield, on invested assets is an important element of the Company) Tj ET Q q 0 0 0 rg BT 398.64 191.25 Td (s earnings since insurance products are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.25 Td (priced with the assumption that premiums received can be invested for a period of time before benefits, loss and loss adjustment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.25 Td (expenses are paid. Due to the need to maintain suf) Tj ET Q q 0 0 0 rg BT 232.36 167.25 Td (ficient liquidity to satisfy claim obligations, the majority of the Company) Tj ET Q q 0 0 0 rg BT 528.15 167.25 Td (s invested ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.25 Td (assets have been held in available-for) Tj ET Q q 0 0 0 rg BT 180.96 155.25 Td (-sale securities, including, among other asset classes, corporate bonds, municipal bonds, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.25 Td (government debt, short-term debt, mortgage-backed securities and asset-backed securities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.25 Td (The primary investment objective for the Company is to maximize economic value, consistent with acceptable risk parameters, including ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.25 Td (the management of credit risk and interest rate sensitivity of invested assets, while generating suf) Tj ET Q q 0 0 0 rg BT 419.82 113.25 Td (ficient after) Tj ET Q q 0 0 0 rg BT 465.97 113.25 Td (-tax income to meet ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.25 Td (policyholder and corporate obligations. Investment strategies are developed based on a variety of factors including business needs, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.25 Td (regulatory requirements and tax considerations.) Tj ET Q endstream endobj 71 0 obj <> endobj 72 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (35) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (CONSOLIDA) Tj ET Q q 0 0 0 rg BT 91.32 713.25 Td (TED ) Tj ET Q q 0 0 0 rg BT 114.39 713.25 Td (RESUL) Tj ET Q q 0 0 0 rg BT 146.81 713.25 Td (TS ) Tj ET Q q 0 0 0 rg BT 161.54 713.25 Td (OF) Tj ET Q q 0 0 0 rg BT 175.06 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 177.56 713.25 Td (OPERA) Tj ET Q q 0 0 0 rg BT 211.82 713.25 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 696.25 Td (The Consolidated Results of Operations should be read in conjunction with the Company's Consolidated Financial Statements and the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 684.25 Td (related Notes beginning on page F-1. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 644.75 245.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 644.75 50.00 -12.00 re f /GS0 gs 0.8 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0.9333333333333333 1 rg /GS0 gs 377.00 596.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 596.75 77.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 596.75 77.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 572.75 245.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 572.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 572.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 572.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 572.75 77.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 572.75 77.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 548.75 245.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 548.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 548.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 548.75 50.00 -12.00 re f /GS0 gs 0.8 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0.9333333333333333 1 rg /GS0 gs 504.00 500.75 77.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 476.75 245.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 476.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 476.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 476.75 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 476.75 77.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 476.75 77.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 452.75 245.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 452.75 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 452.75 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 452.75 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 452.75 77.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 452.75 77.00 -25.00 re f /GS0 gs 0.8 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1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 644.75 m 504 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 644.75 m 581 644.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 584.75 m 277 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 584.75 m 327 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 584.75 m 377 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 584.75 m 427 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 584.75 m 504 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 584.75 m 581 584.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 536.75 m 277 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 536.75 m 327 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 536.75 m 377 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 536.75 m 427 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 536.75 m 504 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 536.75 m 581 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 500.75 m 277 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 500.75 m 327 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 500.75 m 377 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 500.75 m 427 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 500.75 m 504 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 500.75 m 581 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 476.75 m 277 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 476.75 m 327 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 476.75 m 377 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 476.75 m 427 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 476.75 m 504 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 476.75 m 581 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 331.75 m 277 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 331.75 m 327 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 331.75 m 377 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 331.75 m 427 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 331.75 m 504 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 331.75 m 581 331.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 284.75 m 277 284.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 284.75 m 327 284.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 284.75 m 377 284.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 284.75 m 427 284.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 284.75 m 504 284.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 284.75 m 581 284.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 259.75 m 277 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 259.75 m 327 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 259.75 m 377 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 259.75 m 427 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 259.75 m 504 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 259.75 m 581 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 247.75 m 277 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 247.75 m 327 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 247.75 m 377 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 247.75 m 427 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 247.75 m 504 247.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 247.75 m 581 247.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 292.50 649.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 342.50 649.20 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.70 649.20 Td (2011) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.80 665.15 Td (Increase) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.05 656.15 Td (\(Decrease\) From) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 441.00 647.20 Td (2012 to 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.80 665.15 Td (Increase) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.05 656.15 Td (\(Decrease\) From) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.20 647.20 Td (2011 to 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 635.37 Td (Earned premiums) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 279.50 635.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.65 635.48 Td (13,226) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.50 635.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.65 635.37 Td (13,631) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.50 635.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.65 635.37 Td (14,088) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.65 635.37 Td ($\(405\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.65 635.37 Td ($\(457\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 623.37 Td (Fee income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.65 623.48 Td (2,805) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.65 623.37 Td (4,386) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.65 623.37 Td (4,700) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.40 623.37 Td (\(1,581\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 623.37 Td (\(314\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 611.37 Td (Net investment income \(loss\):) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.00 611.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.00 611.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 599.37 Td (Securities available-for-sale and other) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.65 599.48 Td (3,362) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.65 599.37 Td (4,227) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.65 599.37 Td (4,263) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 599.37 Td (\(865\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.65 599.37 Td (\(36\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 587.37 Td (Equity securities, trading) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.65 587.48 Td (6,061) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.65 587.37 Td (4,364) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.30 587.37 Td (\(1,345) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 587.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.75 587.37 Td (1,697) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.75 587.37 Td (5,709) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 575.37 Td (Total net investment income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.65 575.48 Td (9,423) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.65 575.37 Td (8,591) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.65 575.37 Td (2,918) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 575.37 Td (832) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.75 575.37 Td (5,673) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 563.37 Td (Net realized capital gains \(losses\):) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.00 563.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.00 563.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 551.37 Td (Total other-than-temporary impairment \(OTTI\) losses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 309.80 551.53 Td (\(93) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 323.15 551.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.80 551.37 Td (\(389) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.15 551.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.80 551.37 Td (\(263) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 551.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 551.37 Td (296) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 551.37 Td (\(126\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 539.37 Td (OTTI losses recognized in other comprehensive income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.15 539.48 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.15 539.37 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 539.37 Td (89) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.65 539.37 Td (\(20\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.65 539.37 Td (\(49\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 527.37 Td (Net OTTI losses recognized in earnings) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 309.80 527.53 Td (\(73) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 323.15 527.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.80 527.37 Td (\(349) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.15 527.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.80 527.37 Td (\(174) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 527.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 527.37 Td (276) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 527.37 Td (\(175\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 515.37 Td (Net realized capital gains on business dispositions) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.65 515.48 Td (1,575) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.15 515.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 515.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.75 515.37 Td (1,575) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.00 515.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 503.37 Td (Net realized capital gains \(losses\), excluding net OTTI) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 304.80 503.53 Td (\(995) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 323.15 503.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.80 503.37 Td (\(395) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.15 503.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.80 503.37 Td (\(52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 503.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 503.37 Td (\(600\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 503.37 Td (\(343\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 491.37 Td (Total net realized capital gains \(losses\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.15 491.48 Td (507) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.80 491.37 Td (\(744) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.15 491.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.80 491.37 Td (\(226) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 491.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.75 491.37 Td (1,251) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 491.37 Td (\(518\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 479.37 Td (Other revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.15 479.48 Td (275) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.15 479.37 Td (258) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 479.37 Td (253) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.00 479.37 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.50 479.37 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 467.37 Td (Total revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.65 467.48 Td (26,236) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.65 467.37 Td (26,122) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.65 467.37 Td (21,733) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 467.37 Td (114) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.75 467.37 Td (4,389) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 455.37 Td (Benefits, losses and loss adjustment expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.65 455.48 Td (10,948) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.65 455.37 Td (13,248) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.65 455.37 Td (14,627) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.40 455.37 Td (\(2,300\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.40 455.37 Td (\(1,379\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 442.42 Td (Benefits, losses and loss adjustment expenses returns) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 432.42 Td (credited on international variable annuities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.65 432.43 Td (6,060) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.65 432.42 Td (4,363) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.30 432.47 Td (\(1,345) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 432.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.75 432.42 Td (1,697) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.75 432.42 Td (5,708) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 418.32 Td (Amortization of deferred policy acquisition costs and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 408.32 Td (present value of future profits) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.65 408.43 Td (2,701) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.65 408.42 Td (1,988) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.65 408.42 Td (2,444) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 408.42 Td (713) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 408.42 Td (\(456\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 394.37 Td (Insurance operating costs and other expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.65 394.48 Td (4,280) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.65 394.37 Td (5,204) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.65 394.37 Td (5,269) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 394.37 Td (\(924\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.65 394.37 Td (\(65\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 382.37 Td (Loss on extinguishment of debt) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.15 382.48 Td (213) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.15 382.37 Td (910) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 382.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 382.37 Td (\(697\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.50 382.37 Td (910) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 370.32 Td (Reinsurance loss on disposition, including reduction in) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 360.32 Td (goodwill of $156 and $342, respectively) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.65 360.43 Td (1,574) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.15 360.42 Td (533) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 360.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.75 360.42 Td (1,041) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.50 360.42 Td (533) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 346.37 Td (Interest expense) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.15 346.48 Td (397) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.15 346.37 Td (457) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 346.37 Td (508) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.65 346.37 Td (\(60\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.65 346.37 Td (\(51\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 334.37 Td (Goodwill impairment) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.15 334.48 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.15 334.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 334.37 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.00 334.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.65 334.37 Td (\(30\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 322.37 Td (Total benefits, losses and expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.65 322.48 Td (26,173) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.65 322.37 Td (26,703) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.65 322.37 Td (21,533) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 322.37 Td (\(530\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.75 322.37 Td (5,170) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 310.32 Td (Income \(loss\)from continuing operations before) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 300.32 Td (income taxes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.15 301.43 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.80 301.47 Td (\(581) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.15 301.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 301.42 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 301.42 Td (644) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 301.42 Td (\(781\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 287.37 Td (Income tax benefit) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 304.80 287.53 Td (\(247) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 323.15 287.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.80 287.37 Td (\(481) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.15 287.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.80 287.37 Td (\(373) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 287.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 287.37 Td (234) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 287.37 Td (\(108\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 275.37 Td (Income \(loss\)from continuing operations, net of tax) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.15 275.48 Td (310) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.80 275.37 Td (\(100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.15 275.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 275.37 Td (573) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 275.37 Td (410) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 275.37 Td (\(673\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 263.32 Td (Income \(loss\)from discontinued operations, net of tax) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 304.80 263.53 Td (\(134) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 323.15 263.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.15 263.32 Td (62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 263.32 Td (139) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 263.32 Td (\(196\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.65 263.32 Td (\(77\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 250.37 Td (Net income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 279.50 250.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.15 250.48 Td (176) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.50 250.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.80 250.37 Td (\(38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.15 250.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.50 250.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 250.37 Td (712) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.00 250.37 Td ($214) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.65 250.37 Td ($\(750\)) Tj ET Q BT /F2 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 214.25 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 214.25 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 214.25 Td (December31, 2013) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 214.25 Td ( compared to the year ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 214.25 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.25 Td (The increase in net income from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 163.67 197.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.67 197.25 Td ( to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.45 197.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.45 197.25 Td ( was primarily due to the following items:) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 384.47 197.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 176.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 176.25 Td (Current accident year losses and loss adjustment expenses before catastrophes of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.73 176.25 Td ($6.3 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.84 176.25 Td (, before tax, in 2013, decreased from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 164.25 Td ($6.6 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.11 164.25 Td (, before tax, in 2012. ) Tj ET Q q 0 0 0 rg BT 185.46 164.25 Td (The decrease was primarily driven by lower loss and loss adjustment expenses in Property and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 152.25 Td (Casualty Commercial workers) Tj ET Q q 0 0 0 rg BT 178.22 152.25 Td ( compensation business due to favorable severity and frequency) Tj ET Q q 0 0 0 rg BT 433.05 152.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 131.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 131.25 Td (Current accident year catastrophe losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.82 131.25 Td ($312) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 247.82 131.25 Td (, before tax, in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.35 131.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.35 131.25 Td (, compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.55 131.25 Td ($706) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.55 131.25 Td (, before tax, in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.08 131.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.08 131.25 Td (. Losses in 2013 were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 119.25 Td (primarily due to multiple thunderstorm, hail, and tornado events across various U.S. geographic regions. Losses in 2012 were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 107.25 Td (primarily driven by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.26 107.25 Td ($350) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.26 107.25 Td ( related to Storm Sandy and multiple thunderstorm, hail, and tornado events across various U.S. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 95.25 Td (geographic regions. ) Tj ET Q endstream endobj 73 0 obj <> endobj 74 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 713.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 713.10 Td (A) Tj ET Q q 0 0 0 rg BT 60.67 713.10 Td ( loss on extinguishment of debt of $213, before tax, in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.80 713.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.80 713.10 Td (, compared to $910, before tax in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.04 713.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.04 713.10 Td (. ) Tj ET Q q 0 0 0 rg BT 462.35 713.10 Td (The loss in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.74 713.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.74 713.10 Td ( related to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 701.10 Td (the repurchase of approximately $800 of senior notes at a premium to the face amount of the then outstanding debt. ) Tj ET Q q 0 0 0 rg BT 517.85 701.10 Td (The resulting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 689.10 Td (loss on extinguishment of debt consists of the repurchase premium, the write-of) Tj ET Q q 0 0 0 rg BT 372.64 689.10 Td (f of the unamortized discount, and debt issuance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 677.10 Td (and other costs related to the repurchase transaction. ) Tj ET Q q 0 0 0 rg BT 268.18 677.10 Td (The loss in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 314.57 677.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.57 677.10 Td ( related to the repurchase of all outstanding 10% fixed-to-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 665.10 Td (floating rate junior subordinated debentures due 2068 with a $1.75 billion aggregate principal amount all held by ) Tj ET Q q 0 0 0 rg BT 507.77 665.10 Td (Allianz. ) Tj ET Q q 0 0 0 rg BT 542.03 665.10 Td (The loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 653.10 Td (in 2012 consisted of the premium associated with repurchasing the 10% Debentures at an amount greater than the face amount, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 641.10 Td (write-of) Tj ET Q q 0 0 0 rg BT 86.03 641.10 Td (f of the unamortized discount and debt issuance costs related to the 10% Debentures and other costs related to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 629.10 Td (repurchase transaction.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 608.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 608.10 Td (Reinsurance loss on disposition of $533, before tax, in 2012 consisting of an impairment of goodwill and a loss accrual for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 596.10 Td (premium deficiency related to the disposition of the Individual Life business, and losses in 2012 from the operations of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 584.10 Td (Retirement Plans and Individual Life businesses sold in 2013. For further discussion of the sale of these businesses, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.63 584.10 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.63 584.10 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 572.10 Td (Business Dispositions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 142.07 572.10 Td ( of Notes to Consolidated Financial Statements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 554.10 Td (Partially of) Tj ET Q q 0 0 0 rg BT 76.03 554.10 Td (fsetting the increase in net income were the following items:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 536.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 536.10 Td (An increase of $853 in the Unlock char) Tj ET Q q 0 0 0 rg BT 211.27 536.10 Td (ge, before tax, in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.24 536.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.24 536.10 Td ( compared to an Unlock benefit of $47, before tax, in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.44 536.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.44 536.10 Td (. ) Tj ET Q q 0 0 0 rg BT 543.76 536.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 524.10 Td (Unlock char) Tj ET Q q 0 0 0 rg BT 102.96 524.10 Td (ge in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 125.18 524.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 145.18 524.10 Td ( was primarily due to Japan hedge cost assumption changes associated with expanding the Japan variable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 512.10 Td (annuity hedging program in 2013, partially of) Tj ET Q q 0 0 0 rg BT 236.84 512.10 Td (fset by actual separate account returns being above our aggregated estimated returns ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 500.10 Td (during the period. ) Tj ET Q q 0 0 0 rg BT 130.19 500.10 Td (The Unlock benefit in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.72 500.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.72 500.10 Td ( was driven primarily by actual separate account returns above our aggregated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 488.10 Td (estimated return, partially of) Tj ET Q q 0 0 0 rg BT 167.67 488.10 Td (fset by assumption changes in connection with the annual policyholder behavior assumption study) Tj ET Q q 0 0 0 rg BT 560.27 488.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 476.10 Td (For further discussion of Unlocks, see MD&A) Tj ET Q q 0 0 0 rg BT 239.26 476.10 Td ( - Critical ) Tj ET Q q 0 0 0 rg BT 279.53 476.10 Td (Accounting Estimates, Estimated Gross Profits Used in the ) Tj ET Q q 0 0 0 rg BT 517.93 476.10 Td (V) Tj ET Q q 0 0 0 rg BT 524.04 476.10 Td (aluation and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 464.10 Td (Amortization of ) Tj ET Q q 0 0 0 rg BT 120.10 464.10 Td (Assets and Liabilities ) Tj ET Q q 0 0 0 rg BT 208.15 464.10 Td (Associated with ) Tj ET Q q 0 0 0 rg BT 274.62 464.10 Td (V) Tj ET Q q 0 0 0 rg BT 280.73 464.10 Td (ariable ) Tj ET Q q 0 0 0 rg BT 309.88 464.10 Td (Annuity and Other Universal Life-T) Tj ET Q q 0 0 0 rg BT 454.14 464.10 Td (ype Contracts and MD&A) Tj ET Q q 0 0 0 rg BT 559.41 464.10 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 452.10 Td (T) Tj ET Q q 0 0 0 rg BT 59.41 452.10 Td (alcott Resolution. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 434.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 434.10 Td (Net realized capital gains \(losses\), excluding the realized capital gain on business dispositions and OTTI, increased to a loss of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 422.10 Td ($995) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 74.00 422.10 Td (, before tax, from a loss in the prior year of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.66 422.10 Td ($395) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.66 422.10 Td (, before tax, primarily due to losses on the international variable annuity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 410.10 Td (hedge program in 2013. ) Tj ET Q q 0 0 0 rg BT 156.85 410.10 Td (The losses in 2013 primarily resulted from the weakening of the yen and rising equity markets. Certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 398.10 Td (hedge assets generated realized capital losses on rising equity markets and weakening of the yen and are used to hedge liabilities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 386.10 Td (that are not carried at fair value. For further discussion of investment results, see MD&A) Tj ET Q q 0 0 0 rg BT 408.90 386.10 Td ( - Key Performance Measures and Ratios, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 374.10 Td (Net Realized Capital Gains \(Losses\). For information on the related sensitivities of the variable annuity hedging program, see ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 362.10 Td (Enterprise Risk Management, ) Tj ET Q q 0 0 0 rg BT 175.46 362.10 Td (V) Tj ET Q q 0 0 0 rg BT 181.57 362.10 Td (ariable Product Guarantee Risks and Risk Management. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 344.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 344.10 Td (Net asbestos reserve strengthening of $130, before tax in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.93 344.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.93 344.10 Td (, compared to $48, before tax in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.17 344.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.17 344.10 Td (, resulting from the Company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 332.10 Td (annual review of its asbestos liabilities. For further information, see MD&A) Tj ET Q q 0 0 0 rg BT 360.33 332.10 Td ( - Critical ) Tj ET Q q 0 0 0 rg BT 400.60 332.10 Td (Accounting Estimates, Property & Casualty ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 320.10 Td (Other Operations Claims with the Property and Casualty Insurance Product Reserves, Net of Reinsurance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 302.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 302.10 Td (The Company reported a loss from discontinued operations primarily due to the realized capital loss of $102, after) Tj ET Q q 0 0 0 rg BT 510.89 302.10 Td (-tax, on the sale ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 290.10 Td (of Hartford Life International, Ltd. \("HLIL"\) in 2013. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.00 272.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 272.10 Td (Dif) Tj ET Q q 0 0 0 rg BT 67.15 272.10 Td (ferences between the Company's ef) Tj ET Q q 0 0 0 rg BT 208.16 272.10 Td (fective income tax rate and the U.S. statutory rate of 35% are due primarily to tax-exempt ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 260.10 Td (interest earned on invested assets and the dividends received deduction \("DRD"\). ) Tj ET Q q 0 0 0 rg BT 381.33 260.10 Td (The $234 decrease in the income tax benefit in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 248.10 Td (2013 compared with the higher income tax benefit in 2012 was primarily due to the $644 increase in income \(loss\) from continuing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 236.10 Td (operations, before tax. ) Tj ET Q q 0 0 0 rg BT 145.73 236.10 Td (The income tax benefit of $247 and $481 in 2013 and 2012, respectively) Tj ET Q q 0 0 0 rg BT 435.84 236.10 Td (, includes separate account DRD ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 224.10 Td (benefits of $139 and $145, respectively) Tj ET Q q 0 0 0 rg BT 211.08 224.10 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 206.10 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 206.10 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 206.10 Td (December31, 2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 206.10 Td ( compared to the year ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 206.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 350.32 206.10 Td (1) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.32 206.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 189.10 Td (The decrease in net income from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.33 189.10 Td (201) Tj ET Q q 0 0 0 rg BT 179.96 189.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.96 189.10 Td ( to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 197.74 189.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.74 189.10 Td ( was primarily due to the following items:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 172.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 172.10 Td (Net realized capital losses increased primarily due to losses in 2012 on the international variable annuity hedge program, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 160.10 Td (compared to gains in 201) Tj ET Q q 0 0 0 rg BT 157.57 160.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 169.89 160.10 Td (The losses resulted from rising equity markets and weakening of the yen. Certain hedge assets ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 148.10 Td (generated realized capital losses on rising equity markets and weakening of the yen and are used to hedge liabilities that are not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 136.10 Td (carried at fair value. In addition, 2012 includes intent-to-sell impairments relating to the sales of the Retirement Plans and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 124.10 Td (Individual Life businesses. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 109.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 109.10 Td (A) Tj ET Q q 0 0 0 rg BT 63.52 109.10 Td ( loss on extinguishment of debt of $910, before tax in 2012 related to the repurchase of all outstanding 10% fixed-to-floating rate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 97.10 Td (junior subordinated debentures due 2068 with a $1.75 billion aggregate principal amount all held by ) Tj ET Q q 0 0 0 rg BT 459.54 97.10 Td (Allianz. ) Tj ET Q q 0 0 0 rg BT 493.79 97.10 Td (The loss consisted of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 85.10 Td (the premium associated with repurchasing the 10% Debentures at an amount greater than the face amount, the write-of) Tj ET Q q 0 0 0 rg BT 531.49 85.10 Td (f of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 73.10 Td (unamortized discount and debt issuance costs related to the 10% Debentures and other costs related to the repurchase transaction.) Tj ET Q endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 713.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 713.10 Td (Reinsurance loss on disposition of $533, before tax, in 2012 consisting of a goodwill impairment char) Tj ET Q q 0 0 0 rg BT 464.10 713.10 Td (ge and loss accrual for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 701.10 Td (premium deficiency related to the disposition of the Individual Life business. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 683.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 683.10 Td (Income \(loss\)from discontinued operations, after) Tj ET Q q 0 0 0 rg BT 254.37 683.10 Td (-tax, decreased due to a realized gain on the sale of Specialty Risk Services of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 671.10 Td ($150, after) Tj ET Q q 0 0 0 rg BT 99.97 671.10 Td (-tax, which was partially of) Tj ET Q q 0 0 0 rg BT 209.47 671.10 Td (fset by a loss of $74, after) Tj ET Q q 0 0 0 rg BT 312.86 671.10 Td (-tax, from the disposition of Federal ) Tj ET Q q 0 0 0 rg BT 459.59 671.10 Td (T) Tj ET Q q 0 0 0 rg BT 465.35 671.10 Td (rust Corporation. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (Partially of) Tj ET Q q 0 0 0 rg BT 76.03 653.10 Td (fsetting these decreases in net income were the following items:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 635.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 635.10 Td (An Unlock benefit of $47, before tax, in 2012 compared to an Unlock char) Tj ET Q q 0 0 0 rg BT 355.74 635.10 Td (ge of $734, before tax, in 201) Tj ET Q q 0 0 0 rg BT 473.67 635.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 483.49 635.10 Td (The benefit in 2012 was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 623.10 Td (driven primarily by actual separate account returns above our aggregated estimated return, partially of) Tj ET Q q 0 0 0 rg BT 464.83 623.10 Td (fset by policyholder ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 611.10 Td (assumption changes which reduced expected future gross profits including additional costs associated with the U.S. variable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 599.10 Td (annuity macro hedge program. ) Tj ET Q q 0 0 0 rg BT 186.90 599.10 Td (The Unlock char) Tj ET Q q 0 0 0 rg BT 253.92 599.10 Td (ge in 201) Tj ET Q q 0 0 0 rg BT 290.76 599.10 Td (1 was primarily due to the impact of changes to the international ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 587.10 Td (variable annuity hedge program. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 569.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 569.10 Td (Dif) Tj ET Q q 0 0 0 rg BT 70.00 569.10 Td (ferences between the Company's ef) Tj ET Q q 0 0 0 rg BT 211.01 569.10 Td (fective income tax rate and the U.S. statutory rate of 35% are due primarily to tax-exempt ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 557.10 Td (interest earned on invested assets and the dividends received deduction \("DRD"\). ) Tj ET Q q 0 0 0 rg BT 384.18 557.10 Td (The $108 increase in the income tax benefit in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 545.10 Td (2012 compared with the income tax benefit in 201) Tj ET Q q 0 0 0 rg BT 258.09 545.10 Td (1 was primarily due to the $781 decrease in income \(loss\) from continuing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 533.10 Td (operations, before tax. ) Tj ET Q q 0 0 0 rg BT 148.58 533.10 Td (The income tax benefit of $481and $373 in 2012 and 201) Tj ET Q q 0 0 0 rg BT 378.15 533.10 Td (1, respectively) Tj ET Q q 0 0 0 rg BT 435.81 533.10 Td (, includes separate account DRD ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 521.10 Td (benefits of $140 and $201, respectively) Tj ET Q q 0 0 0 rg BT 213.93 521.10 Td (. ) Tj ET Q q 0 0 0 rg BT 218.75 521.10 Td (The income tax benefit in 201) Tj ET Q q 0 0 0 rg BT 338.62 521.10 Td (1 includes a release of $86, or 100%, of the valuation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 509.10 Td (allowance associated with realized capital losses, as well as a tax benefit of $52 as a result of a resolution of a tax matter with the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 497.10 Td (IRS for the computation of DRD for years 1998, 2000 and 2001. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 482.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 482.10 Td (Current accident year catastrophe losses of $706, before tax, in 2012 compared to $745, before tax, in 201) Tj ET Q q 0 0 0 rg BT 481.06 482.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 490.88 482.10 Td (The losses in 2012 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 470.10 Td (primarily include Storm Sandy) Tj ET Q q 0 0 0 rg BT 179.79 470.10 Td (, as well as multiple thunderstorm, hail, and tornado events across various U.S. geographic regions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 458.10 Td (in both 2012 and 201) Tj ET Q q 0 0 0 rg BT 141.47 458.10 Td (1. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 443.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 443.10 Td (The Company recorded reserve releases of $61, before tax, in 2012, compared to reserve strengthening of $48, before tax, in 201) Tj ET Q q 0 0 0 rg BT 572.13 443.10 Td (1, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 431.10 Td (in its property and casualty insurance prior accident years development, excluding asbestos and environmental reserves. For ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 419.10 Td (additional information regarding prior accident years development, see MD&A) Tj ET Q q 0 0 0 rg BT 373.70 419.10 Td ( - Critical ) Tj ET Q q 0 0 0 rg BT 413.96 419.10 Td (Accounting Estimates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 404.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 404.10 Td (Net asbestos reserve strengthening of $48, before tax, in 2012, compared to $294, before tax, in 201) Tj ET Q q 0 0 0 rg BT 456.64 404.10 Td (1 resulting from the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 392.10 Td (Company's annual review of its asbestos liabilities. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 377.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 377.10 Td (A) Tj ET Q q 0 0 0 rg BT 63.52 377.10 Td ( $1) Tj ET Q q 0 0 0 rg BT 75.65 377.10 Td (12, before tax char) Tj ET Q q 0 0 0 rg BT 150.43 377.10 Td (ge in 201) Tj ET Q q 0 0 0 rg BT 187.27 377.10 Td (1 related to the write-of) Tj ET Q q 0 0 0 rg BT 281.50 377.10 Td (f of capitalized costs associated with a policy administration software ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 365.10 Td (project that was discontinued.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.10 Td (The ) Tj ET Q q 0 0 0 rg BT 50.58 335.10 Td (following ) Tj ET Q q 0 0 0 rg BT 93.00 335.10 Td (table ) Tj ET Q q 0 0 0 rg BT 115.96 335.10 Td (presents ) Tj ET Q q 0 0 0 rg BT 152.26 335.10 Td (net ) Tj ET Q q 0 0 0 rg BT 168.01 335.10 Td (income ) Tj ET Q q 0 0 0 rg BT 200.98 335.10 Td (\(loss\)for ) Tj ET Q q 0 0 0 rg BT 240.89 335.10 Td (each ) Tj ET Q q 0 0 0 rg BT 262.74 335.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 302.92 335.10 Td (segment, ) Tj ET Q q 0 0 0 rg BT 342.28 335.10 Td (as ) Tj ET Q q 0 0 0 rg BT 354.14 335.10 Td (well ) Tj ET Q q 0 0 0 rg BT 374.89 335.10 Td (as ) Tj ET Q q 0 0 0 rg BT 386.75 335.10 Td (the ) Tj ET Q q 0 0 0 rg BT 402.50 335.10 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 446.02 335.10 Td (category) Tj ET Q q 0 0 0 rg BT 479.79 335.10 Td (. ) Tj ET Q q 0 0 0 rg BT 485.83 335.10 Td (For ) Tj ET Q q 0 0 0 rg BT 503.25 335.10 Td (a ) Tj ET Q q 0 0 0 rg BT 511.22 335.10 Td (discussion ) Tj ET Q q 0 0 0 rg BT 556.42 335.10 Td (of ) Tj ET Q q 0 0 0 rg BT 568.28 335.10 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 78.58 323.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 118.84 323.10 Td (results ) Tj ET Q q 0 0 0 rg BT 147.45 323.10 Td (by ) Tj ET Q q 0 0 0 rg BT 159.95 323.10 Td (segment, ) Tj ET Q q 0 0 0 rg BT 198.28 323.10 Td (see ) Tj ET Q q 0 0 0 rg BT 213.55 323.10 Td (the ) Tj ET Q q 0 0 0 rg BT 228.26 323.10 Td (segment ) Tj ET Q q 0 0 0 rg BT 264.09 323.10 Td (sections ) Tj ET Q q 0 0 0 rg BT 298.80 323.10 Td (of ) Tj ET Q q 0 0 0 rg BT 309.63 323.10 Td (MD&A. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 277.60 244.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 277.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 277.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 277.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 277.60 78.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 277.60 77.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 253.60 244.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 253.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 253.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 253.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 253.60 78.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 253.60 77.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 229.60 244.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 229.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 229.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 229.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 229.60 78.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 229.60 77.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 205.60 244.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 205.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 205.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 205.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 205.60 78.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 205.60 77.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 277.6 m 276 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 277.6 m 326 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 277.6 m 376 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 277.6 m 426 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426 277.6 m 504 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 277.6 m 581 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 277.6 m 276 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 277.6 m 326 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 277.6 m 376 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 277.6 m 426 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426 277.6 m 504 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 277.6 m 581 277.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 193.60000000000002 m 276 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 181.60000000000002 m 276 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 193.60000000000002 m 326 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 181.60000000000002 m 326 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 193.60000000000002 m 376 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 181.60000000000002 m 376 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 193.60000000000002 m 426 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 181.60000000000002 m 426 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426 193.60000000000002 m 504 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426 181.60000000000002 m 504 181.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 193.60000000000002 m 581 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 181.60000000000002 m 581 181.60000000000002 l s BT /F5 9.00 Tf ET q 0 0 0 rg BT 34.50 282.05 Td (Net income \(loss\) by segment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 291.50 282.05 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 341.50 282.05 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.70 282.05 Td (2011) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.30 298.00 Td (Increase) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 432.55 289.00 Td (\(Decrease\) From) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.50 280.05 Td (2012 to 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.80 298.00 Td (Increase) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.05 289.00 Td (\(Decrease\) From) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.20 280.05 Td (2011 to 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 268.22 Td (Property & Casualty Commercial) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.50 268.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.15 268.33 Td (870) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.50 268.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.15 268.22 Td (547) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.50 268.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.15 268.22 Td (526) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.50 268.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.15 268.22 Td (323) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.50 268.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 268.22 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 256.22 Td (Consumer Markets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.15 256.33 Td (229) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.15 256.22 Td (166) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 256.22 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.15 256.22 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 256.22 Td (159) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 244.22 Td (Property & Casualty Other Operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.80 244.38 Td (\(2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.15 244.33 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.15 244.22 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.80 244.22 Td (\(117) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.15 244.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.80 244.22 Td (\(59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 244.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 244.22 Td (174) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 232.22 Td (Group Benefits) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.15 232.33 Td (192) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.15 232.22 Td (129) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.15 232.22 Td (92) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.15 232.22 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 232.22 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 220.22 Td (Mutual Funds) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 312.15 220.33 Td (76) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.15 220.22 Td (71) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.15 220.22 Td (98) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.15 220.22 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 220.22 Td (\(27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 220.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 208.22 Td (Talcott Resolution) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.80 208.38 Td (\(634) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.15 208.33 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.15 208.22 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.15 208.22 Td (540) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.80 208.22 Td (\(635) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 208.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 208.22 Td (\(539) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 208.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 196.22 Td (Corporate) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.80 196.38 Td (\(555) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.15 196.33 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.30 196.22 Td (\(1,009) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.15 196.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.80 196.22 Td (\(434) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.15 196.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.15 196.22 Td (454) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 196.22 Td (\(575) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 196.22 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 184.33 Td (Net income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.50 184.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.15 184.33 Td (176) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 328.50 184.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.80 184.38 Td (\(38) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.15 184.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.50 184.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 407.15 184.33 Td (712) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 428.50 184.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 485.15 184.33 Td (214) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.50 184.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.80 184.33 Td (\(750) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 184.33 Td (\)) Tj ET Q BT /F2 10.00 Tf ET endstream endobj 77 0 obj <> endobj 78 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (38) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Investment ) Tj ET Q q 0 0 0 rg BT 81.77 713.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 115.39 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 117.89 713.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 698.25 Td (Composition ) Tj ET Q q 0 0 0 rg BT 86.24 698.25 Td (of ) Tj ET Q q 0 0 0 rg BT 97.07 698.25 Td (Invested ) Tj ET Q q 0 0 0 rg BT 133.63 698.25 Td (Assets) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 663.75 320.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 663.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 663.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 663.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.00 663.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 639.75 320.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 639.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 639.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 639.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.00 639.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 615.75 320.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 615.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 615.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 615.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.00 615.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 591.75 320.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 591.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 591.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 591.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.00 591.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 567.75 320.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 567.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 567.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 567.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 520.00 567.75 56.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 408.00 555.75 56.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 520.00 555.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 543.75 320.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 543.75 56.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 408.00 543.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 543.75 56.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 520.00 543.75 56.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 675.75 m 408 675.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408 675.75 m 464 675.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464 675.75 m 520 675.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 520 675.75 m 576 675.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 663.75 m 352 663.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 663.75 m 408 663.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408 663.75 m 464 663.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464 663.75 m 520 663.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 520 663.75 m 576 663.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 567.75 m 352 567.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 567.75 m 408 567.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408 567.75 m 464 567.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464 567.75 m 520 567.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 520 567.75 m 576 567.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 543.75 m 352 543.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 543.75 m 408 543.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464 543.75 m 520 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 531.75 m 352 531.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352 531.75 m 408 531.75 l s 0.6 0.6 0.6 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 543.75 m 464 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 531.75 m 520 531.75 l s 0.6 0.6 0.6 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 543.75 m 576 543.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.20 679.15 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.20 679.15 Td (December 31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.70 667.15 Td (Amount) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.80 667.15 Td (Percent) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 475.70 667.15 Td (Amount) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.80 667.15 Td (Percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 654.37 Td (Fixed maturities, available-for-sale \("AFS"\), at fair value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.50 654.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.65 654.37 Td (62,357) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.00 654.37 Td (79.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 654.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.50 654.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 654.37 Td (85,922) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.00 654.37 Td (81.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 654.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 642.37 Td (Fixed maturities, at fair value using the fair value option \("FVO"\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 642.37 Td (844) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 642.37 Td (1.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 642.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 642.37 Td (1,087) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 642.37 Td (1.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 642.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 630.37 Td (Equity securities, AFS, at fair value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 630.37 Td (868) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 630.37 Td (1.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 630.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 630.37 Td (890) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 630.37 Td (0.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 630.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 618.37 Td (Mortgage loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.65 618.37 Td (5,598) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 618.37 Td (7.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 618.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 618.37 Td (6,711) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 618.37 Td (6.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 618.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 606.37 Td (Policy loans, at outstanding balance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.65 606.37 Td (1,420) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 606.37 Td (1.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 606.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 606.37 Td (1,997) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 606.37 Td (1.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 606.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 594.37 Td (Limited partnerships and other alternative investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.65 594.37 Td (3,040) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 594.37 Td (3.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 594.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 594.37 Td (3,015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 594.37 Td (2.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 594.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 582.37 Td (Other investments [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 582.37 Td (521) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 582.37 Td (0.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 582.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 582.37 Td (1,114) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 582.37 Td (1.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 582.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 570.37 Td (Short-term investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.65 570.37 Td (4,008) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 570.37 Td (5.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 570.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 570.37 Td (4,581) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 570.37 Td (4.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 570.37 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 558.48 Td (Total investments excluding equity securities, trading) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 376.65 558.48 Td (78,656) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 438.50 558.48 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 453.50 558.48 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.65 558.48 Td (105,317) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 550.50 558.48 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 565.50 558.48 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 546.37 Td (Equity securities, trading, at fair value [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.65 546.37 Td (19,745) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 546.37 Td (28,933) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 534.48 Td (Total investments) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 354.50 534.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 376.65 534.48 Td (98,401) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 466.50 534.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.65 534.48 Td (134,250) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 515.45 Td ([1] Primarily r) Tj ET Q q 0 0 0 rg BT 85.67 515.45 Td (elates to derivative instruments.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 504.65 Td ([2] ) Tj ET Q q 0 0 0 rg BT 45.09 504.65 Td (As of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 65.59 504.65 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 136.32 504.65 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 154.32 504.65 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 172.32 504.65 Td (, appr) Tj ET Q q 0 0 0 rg BT 193.49 504.65 Td (oximately ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 230.73 504.65 Td ($19.7) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 250.98 504.65 Td (billion and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 294.73 504.65 Td ($27.1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 314.98 504.65 Td (billion, r) Tj ET Q q 0 0 0 rg BT 348.40 504.65 Td (espectively) Tj ET Q q 0 0 0 rg BT 387.37 504.65 Td (, of equity securities, trading, support Japan variable ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 493.85 Td (annuities. Those equity securities, trading, wer) Tj ET Q q 0 0 0 rg BT 200.15 493.85 Td (e invested in mutual funds, which, in turn, invested in the following asset classes as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 511.38 493.85 Td (December31, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 483.05 Td (2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 483.05 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 483.05 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 483.05 Td (, r) Tj ET Q q 0 0 0 rg BT 93.17 483.05 Td (espectively: Japan equity ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 186.37 483.05 Td (22%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 202.87 483.05 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 220.87 483.05 Td (20%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 237.37 483.05 Td (, Japan fixed income \(primarily government securities\) ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 437.81 483.05 Td (15%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 454.31 483.05 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 472.31 483.05 Td (15%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 488.81 483.05 Td (, global equity ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 542.80 483.05 Td (22%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 559.30 483.05 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 472.25 Td (21%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 48.00 472.25 Td (, global government bonds ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 146.24 472.25 Td (40%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 162.73 472.25 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 180.73 472.25 Td (43%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 197.23 472.25 Td (, and cash and other ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 273.23 472.25 Td (1%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 285.22 472.25 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 303.22 472.25 Td (1%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 315.22 472.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 454.25 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 454.25 Td (otal investments decreased since ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.64 454.25 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.22 454.25 Td (, principally due to the sale of the Retirement Plans and Individual Life businesses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 442.25 Td (resulting in the transfer of fixed maturities, ) Tj ET Q q 0 0 0 rg BT 205.34 442.25 Td (AFS, fixed maturities, FVO, equity securities, ) Tj ET Q q 0 0 0 rg BT 391.44 442.25 Td (AFS, mortgage loans, and policy loans with a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 430.25 Td (total carrying value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 122.57 430.25 Td ($17.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 145.07 430.25 Td ( billion in January 2013. In addition, the sale of the U.K. variable annuity business, HLIL, in the fourth ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 418.25 Td (quarter of 2013 resulted in a decline in the carrying value of fixed maturities, ) Tj ET Q q 0 0 0 rg BT 341.67 418.25 Td (AFS and equity securities, trading of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.37 418.25 Td ($469) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.37 418.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.81 418.25 Td ($1.7 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.92 418.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 406.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 406.25 Td (. Refer to Note 2 - Business Dispositions of Notes to Consolidated Financial Statements for further discussion of these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 394.25 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 86.58 394.25 Td (The remaining decrease in total invested assets is primarily due to a decrease in equity securities, trading, fixed maturities, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 382.25 Td (AFS, other investments, and short-term investments. ) Tj ET Q q 0 0 0 rg BT 246.85 382.25 Td (The decline in equity securities, trading was primarily due to variable annuity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 370.25 Td (policy surrenders, the depreciation of the Japanese ) Tj ET Q q 0 0 0 rg BT 235.49 370.25 Td (Y) Tj ET Q q 0 0 0 rg BT 241.71 370.25 Td (en as compared to the U.S. dollar) Tj ET Q q 0 0 0 rg BT 374.61 370.25 Td (, partially of) Tj ET Q q 0 0 0 rg BT 423.58 370.25 Td (fset by equity market gains. ) Tj ET Q q 0 0 0 rg BT 539.21 370.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 358.25 Td (decrease in fixed maturities, ) Tj ET Q q 0 0 0 rg BT 146.18 358.25 Td (AFS was due to a decline) Tj ET Q BT /F2 10.00 Tf ET 1 1 1 rg /GS0 gs 248.10 365.18 316.29 -9.09 re f /GS0 gs q 0 0 0 rg BT 248.10 358.25 Td ( in valuations due to an increase in interest rates, a reduction in assets levels in ) Tj ET Q BT /F2 10.00 Tf ET 1 1 1 rg /GS0 gs 31.50 353.18 540.80 -9.09 re f /GS0 gs q 0 0 0 rg BT 31.50 346.25 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 346.25 Td (alcott Resolution associated with dollar rolls and repurchase agreements, and capital management actions, including debt repayments ) Tj ET Q BT /F2 10.00 Tf ET 1 1 1 rg /GS0 gs 31.50 341.18 548.06 -9.09 re f /GS0 gs q 0 0 0 rg BT 31.50 334.25 Td (and share repurchases. ) Tj ET Q q 0 0 0 rg BT 126.55 334.25 Td (The decline in other investments was lar) Tj ET Q q 0 0 0 rg BT 287.99 334.25 Td (gely due to a decline in derivative market value primarily resulting from ) Tj ET Q BT /F2 10.00 Tf ET 1 1 1 rg /GS0 gs 31.50 329.18 532.96 -9.09 re f /GS0 gs q 0 0 0 rg BT 31.50 322.25 Td (an increase in interest rates and the depreciation of the Japanese yen in comparison to the euro and U.S dollar) Tj ET Q q 0 0 0 rg BT 468.57 322.25 Td (. ) Tj ET Q q 0 0 0 rg BT 475.89 322.25 Td (The decrease in short-) Tj ET Q BT /F2 10.00 Tf ET 1 1 1 rg /GS0 gs 31.50 317.18 512.87 -9.09 re f /GS0 gs q 0 0 0 rg BT 31.50 310.25 Td (term investments is primarily attributable to a decline in derivative collateral held due to decreases in derivative market values. ) Tj ET Q endstream endobj 79 0 obj <> endobj 80 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (39) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Net Investment Income \(Loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 155.66 713.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 666.75 279.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 666.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 666.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 666.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 666.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 666.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.00 666.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 642.75 279.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 642.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 642.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 642.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 642.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 642.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.00 642.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 618.75 279.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 618.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 618.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 618.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 618.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 618.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.00 618.75 45.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 356.00 606.75 45.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 446.00 606.75 45.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 536.00 606.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 594.75 279.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 594.75 45.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 356.00 594.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 594.75 45.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 446.00 594.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 594.75 45.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 536.00 594.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 570.75 279.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 570.75 45.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 356.00 570.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 570.75 45.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 446.00 570.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 570.75 45.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 536.00 570.75 45.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 356.00 558.75 45.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 446.00 558.75 45.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 536.00 558.75 45.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 546.75 279.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 546.75 45.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 546.75 45.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 546.75 45.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 546.75 45.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 546.75 45.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.00 546.75 45.00 -22.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 311 690.75 m 356 690.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356 690.75 m 401 690.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 690.75 m 446 690.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 690.75 m 491 690.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 690.75 m 536 690.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 536 690.75 m 581 690.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 311 678.75 m 356 678.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356 678.75 m 401 678.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 678.75 m 446 678.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 678.75 m 491 678.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 678.75 m 536 678.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 536 678.75 m 581 678.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 666.75 m 311 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 311 666.75 m 356 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356 666.75 m 401 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 666.75 m 446 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 666.75 m 491 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 666.75 m 536 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 536 666.75 m 581 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 666.75 m 536 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 536 666.75 m 581 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 582.75 m 311 582.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 311 582.75 m 356 582.75 l s 0.6 0.6 0.6 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 594.75 m 401 594.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356 582.75 m 401 582.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 582.75 m 446 582.75 l s 0.6 0.6 0.6 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 594.75 m 491 594.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 582.75 m 491 582.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 582.75 m 536 582.75 l s 0.6 0.6 0.6 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536 594.75 m 581 594.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 536 582.75 m 581 582.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 536 582.75 m 581 582.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 558.75 m 311 558.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 311 558.75 m 356 558.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 558.75 m 446 558.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 558.75 m 536 558.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 546.75 m 311 546.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 311 546.75 m 356 546.75 l s 0.6 0.6 0.6 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 558.75 m 401 558.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356 546.75 m 401 546.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 546.75 m 446 546.75 l s 0.6 0.6 0.6 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 558.75 m 491 558.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 546.75 m 491 546.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 546.75 m 536 546.75 l s 0.6 0.6 0.6 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536 558.75 m 581 558.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 536 546.75 m 581 546.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 524.75 m 311 524.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 311 524.75 m 356 524.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356 524.75 m 401 524.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 524.75 m 446 524.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 524.75 m 491 524.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 524.75 m 536 524.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 536 546.75 m 581 546.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 536 524.75 m 581 524.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 694.01 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 380.15 694.15 Td (For the years ended December 31,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 682.01 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 346.50 682.15 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 436.50 682.15 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.70 682.15 Td (2011) Tj ET Q BT /F5 9.00 Tf ET q 0 0 0 rg BT 34.50 670.15 Td (\(Before tax\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.20 670.15 Td (Amount) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 361.50 670.15 Td (Yield [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 407.20 670.15 Td (Amount) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 451.50 670.15 Td (Yield [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 497.20 670.15 Td (Amount) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.50 670.15 Td (Yield [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 657.37 Td (Fixed maturities [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.50 657.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.65 657.37 Td (2,623) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.00 657.37 Td (4.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.15 657.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.50 657.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 657.37 Td (3,352) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.00 657.37 Td (4.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 657.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.50 657.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.65 657.37 Td (3,382) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 657.37 Td (4.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 657.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 645.37 Td (Equity securities, AFS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.15 645.37 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.00 645.37 Td (3.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.15 645.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.15 645.37 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.00 645.37 Td (4.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 645.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.15 645.37 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 645.37 Td (3.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 645.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 633.37 Td (Mortgage loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.15 633.37 Td (262) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.00 633.37 Td (4.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.15 633.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.15 633.37 Td (337) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.00 633.37 Td (5.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 633.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 633.37 Td (281) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 633.37 Td (5.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 633.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 621.37 Td (Policy loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.15 621.37 Td (83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.00 621.37 Td (5.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.15 621.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.15 621.37 Td (119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.00 621.37 Td (6.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 621.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 621.37 Td (131) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 621.37 Td (6.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 621.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 609.37 Td (Limited partnerships and other alternative investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.15 609.37 Td (287) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.00 609.37 Td (9.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.15 609.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.15 609.37 Td (196) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.00 609.37 Td (7.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 609.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 609.37 Td (243) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 609.37 Td (12.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 609.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 597.37 Td (Other investments [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.15 597.37 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.15 597.37 Td (297) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 597.37 Td (305) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 585.37 Td (Investment expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.80 585.37 Td (\(123) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.15 585.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.80 585.37 Td (\(111) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 585.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.80 585.37 Td (\(115) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.15 585.37 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 573.48 Td (Total securities AFS and other) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.50 573.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 329.65 573.48 Td (3,362) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.00 573.48 Td (4.3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 390.50 573.48 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 403.50 573.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.65 573.48 Td (4,227) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.00 573.48 Td (4.3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.50 573.48 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.50 573.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.65 573.48 Td (4,263) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.00 573.48 Td (4.4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.50 573.48 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 561.37 Td (Equity securities, trading) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.65 561.37 Td (6,061) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 561.37 Td (4,364) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.30 561.37 Td (\(1,345) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.15 561.37 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 549.48 Td (Total net investment income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.50 549.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 329.65 549.48 Td (9,423) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 403.50 549.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.65 549.48 Td (8,591) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.50 549.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.65 549.48 Td (2,918) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 537.48 Td (Total securities, AFS and other excluding limited partnerships) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 527.48 Td (and other alternative investments) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 329.65 529.43 Td (3,075) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.00 529.43 Td (4.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 390.50 529.43 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.65 529.43 Td (4,031) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.00 529.43 Td (4.3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.50 529.43 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.65 529.43 Td (4,020) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.00 529.43 Td (4.2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.50 529.43 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 508.45 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 508.45 Td (Y) Tj ET Q q 0 0 0 rg BT 53.84 508.45 Td (ields calculated using annualized net investment income \(excluding income r) Tj ET Q q 0 0 0 rg BT 330.18 508.45 Td (elated to equity securities, trading\) divided by the monthly average ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 497.65 Td (invested assets at cost, or adjusted carrying value, as applicable, excluding equity securities, trading, r) Tj ET Q q 0 0 0 rg BT 420.86 497.65 Td (epur) Tj ET Q q 0 0 0 rg BT 437.02 497.65 Td (chase agr) Tj ET Q q 0 0 0 rg BT 471.93 497.65 Td (eement and dollar r) Tj ET Q q 0 0 0 rg BT 542.83 497.65 Td (oll ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 486.85 Td (collateral, and consolidated variable inter) Tj ET Q q 0 0 0 rg BT 201.89 486.85 Td (est entity non-contr) Tj ET Q q 0 0 0 rg BT 271.54 486.85 Td (olling inter) Tj ET Q q 0 0 0 rg BT 311.46 486.85 Td (ests. Y) Tj ET Q q 0 0 0 rg BT 336.05 486.85 Td (ield calculations for the year ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 466.01 486.85 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 536.74 486.85 Td ( exclude ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 476.05 Td (assets transferr) Tj ET Q q 0 0 0 rg BT 104.92 476.05 Td (ed due to the sale of the Retir) Tj ET Q q 0 0 0 rg BT 210.31 476.05 Td (ement Plans and Individual Life businesses. Y) Tj ET Q q 0 0 0 rg BT 377.13 476.05 Td (ield calculations for all periods exclude income and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 465.25 Td (assets associated with the disposal of the HLIL) Tj ET Q q 0 0 0 rg BT 218.59 465.25 Td ( business. Y) Tj ET Q q 0 0 0 rg BT 262.43 465.25 Td (ields by asset type exclude investment expenses.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 454.45 Td ([2] ) Tj ET Q q 0 0 0 rg BT 49.50 454.45 Td (Includes net investment income on short-term investments.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 443.65 Td ([3] ) Tj ET Q q 0 0 0 rg BT 49.50 443.65 Td (Primarily includes income fr) Tj ET Q q 0 0 0 rg BT 152.90 443.65 Td (om derivatives that qualify for hedge accounting and hedge fixed maturities.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 425.65 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 425.65 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 425.65 Td (December31, 2013) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 425.65 Td ( compared to the year ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 425.65 Td (December31, 2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.87 425.65 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.65 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 407.65 Td (otal net investment income increased primarily due to an increase in income from equity securities, trading, which is a result of broad ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.65 Td (global equity market appreciation, partially of) Tj ET Q q 0 0 0 rg BT 215.14 395.65 Td (fset by the depreciation of the Japanese ) Tj ET Q q 0 0 0 rg BT 374.43 395.65 Td (Y) Tj ET Q q 0 0 0 rg BT 380.65 395.65 Td (en as compared to the U.S. dollar; as well as an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.65 Td (increase in income from limited partnerships, due to real estate and private equity funds selling underlying investments and continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.65 Td (valuation improvements. ) Tj ET Q q 0 0 0 rg BT 135.74 371.65 Td (This increase was partially of) Tj ET Q q 0 0 0 rg BT 253.30 371.65 Td (fset by a decrease in income due to lower asset levels as a result of the sale of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.65 Td (Retirement Plans and Individual Life businesses in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.30 359.65 Td (January) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.39 359.65 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.89 359.65 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.89 359.65 Td (, and a decline in yield. Refer to Note 2 - Business Dispositions of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.65 Td (Notes to Consolidated Financial Statements for further discussion of these transactions. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.65 Td (The annualized net investment income yield, excluding limited partnerships and other alternative investments, has declined to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.46 329.65 Td (4.1%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.29 329.65 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.65 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 317.65 Td ( versus ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.05 317.65 Td (4.3%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.88 317.65 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.66 317.65 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.66 317.65 Td (. ) Tj ET Q q 0 0 0 rg BT 145.48 317.65 Td (The decline was primarily attributable to the divestiture of Individual Life and Retirement Plans businesses. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.65 Td (The invested assets transferred associated with the divested Individual Life and Retirement Plans businesses had a carrying value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.65 Td ($17.3 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.61 293.65 Td ( and an average book yield, including the impact of associated derivatives, of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.16 293.65 Td (5.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.99 293.65 Td (. ) Tj ET Q q 0 0 0 rg BT 482.31 293.65 Td (The average ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.65 Td (reinvestment rate for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.10 281.65 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.68 281.65 Td ( was approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.49 281.65 Td (3.8%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.32 281.65 Td (, excluding treasury securities and mortgage backed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.65 Td (securities related to dollar roll transactions, which is slightly higher than the average yield of sales and maturities for the same period. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.65 Td (For further discussion on dollar roll transactions see Note 6 - Investments and Derivative Investments of Notes to Consolidated Financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.65 Td (Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.65 Td (Based upon current reinvestment rates, we expect the annualized net investment income yield, excluding limited partnerships and other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.65 Td (alternative investments, for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 143.13 215.65 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 163.13 215.65 Td (, to remain relatively consistent with the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.42 215.65 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.42 215.65 Td ( net investment income yield. ) Tj ET Q q 0 0 0 rg BT 469.27 215.65 Td (The estimated impact on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.65 Td (net investment income is subject to change as the composition of the portfolio changes through normal portfolio management and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.65 Td (trading activities and changes in market conditions.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 173.65 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 173.65 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 173.65 Td (December31, 2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 173.65 Td ( compared to the year ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 173.65 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 350.32 173.65 Td (1) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 355.32 173.65 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.65 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 155.65 Td (otal ) Tj ET Q q 0 0 0 rg BT 55.67 155.65 Td (net ) Tj ET Q q 0 0 0 rg BT 71.64 155.65 Td (investment ) Tj ET Q q 0 0 0 rg BT 119.29 155.65 Td (income ) Tj ET Q q 0 0 0 rg BT 152.48 155.65 Td (increased ) Tj ET Q q 0 0 0 rg BT 194.00 155.65 Td (lar) Tj ET Q q 0 0 0 rg BT 204.36 155.65 Td (gely ) Tj ET Q q 0 0 0 rg BT 225.34 155.65 Td (due ) Tj ET Q q 0 0 0 rg BT 243.54 155.65 Td (to ) Tj ET Q q 0 0 0 rg BT 255.08 155.65 Td (equity ) Tj ET Q q 0 0 0 rg BT 283.83 155.65 Td (securities, ) Tj ET Q q 0 0 0 rg BT 327.86 155.65 Td (trading, ) Tj ET Q q 0 0 0 rg BT 362.44 155.65 Td (resulting ) Tj ET Q q 0 0 0 rg BT 401.20 155.65 Td (from ) Tj ET Q q 0 0 0 rg BT 424.40 155.65 Td (market ) Tj ET Q q 0 0 0 rg BT 455.92 155.65 Td (appreciation ) Tj ET Q q 0 0 0 rg BT 509.10 155.65 Td (of ) Tj ET Q q 0 0 0 rg BT 521.19 155.65 Td (the ) Tj ET Q q 0 0 0 rg BT 537.17 155.65 Td (underlying ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.65 Td (investment ) Tj ET Q q 0 0 0 rg BT 78.68 143.65 Td (funds ) Tj ET Q q 0 0 0 rg BT 104.21 143.65 Td (supporting ) Tj ET Q q 0 0 0 rg BT 150.28 143.65 Td (the ) Tj ET Q q 0 0 0 rg BT 165.80 143.65 Td (Japanese ) Tj ET Q q 0 0 0 rg BT 204.64 143.65 Td (variable ) Tj ET Q q 0 0 0 rg BT 240.14 143.65 Td (annuity ) Tj ET Q q 0 0 0 rg BT 273.44 143.65 Td (products. ) Tj ET Q q 0 0 0 rg BT 313.44 143.65 Td (T) Tj ET Q q 0 0 0 rg BT 318.85 143.65 Td (otal ) Tj ET Q q 0 0 0 rg BT 337.15 143.65 Td (net ) Tj ET Q q 0 0 0 rg BT 352.66 143.65 Td (investment ) Tj ET Q q 0 0 0 rg BT 399.85 143.65 Td (income, ) Tj ET Q q 0 0 0 rg BT 435.08 143.65 Td (excluding ) Tj ET Q q 0 0 0 rg BT 477.81 143.65 Td (equity ) Tj ET Q q 0 0 0 rg BT 506.11 143.65 Td (securities, ) Tj ET Q q 0 0 0 rg BT 549.67 143.65 Td (trading, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.65 Td (declined ) Tj ET Q q 0 0 0 rg BT 67.89 131.65 Td (primarily ) Tj ET Q q 0 0 0 rg BT 107.62 131.65 Td (due ) Tj ET Q q 0 0 0 rg BT 124.58 131.65 Td (to ) Tj ET Q q 0 0 0 rg BT 134.88 131.65 Td (lower ) Tj ET Q q 0 0 0 rg BT 160.16 131.65 Td (returns ) Tj ET Q q 0 0 0 rg BT 190.45 131.65 Td (on ) Tj ET Q q 0 0 0 rg BT 202.97 131.65 Td (limited ) Tj ET Q q 0 0 0 rg BT 233.82 131.65 Td (partnerships ) Tj ET Q q 0 0 0 rg BT 285.21 131.65 Td (and ) Tj ET Q q 0 0 0 rg BT 302.17 131.65 Td (other ) Tj ET Q q 0 0 0 rg BT 325.23 131.65 Td (alternative ) Tj ET Q q 0 0 0 rg BT 369.95 131.65 Td (investments. ) Tj ET Q q 0 0 0 rg BT 422.74 131.65 Td ( ) Tj ET Q q 0 0 0 rg BT 425.08 131.65 Td (This ) Tj ET Q q 0 0 0 rg BT 445.38 131.65 Td (decline ) Tj ET Q q 0 0 0 rg BT 476.77 131.65 Td (was ) Tj ET Q q 0 0 0 rg BT 494.84 131.65 Td (partially ) Tj ET Q q 0 0 0 rg BT 530.68 131.65 Td (of) Tj ET Q q 0 0 0 rg BT 538.82 131.65 Td (fset ) Tj ET Q q 0 0 0 rg BT 555.78 131.65 Td (by ) Tj ET Q q 0 0 0 rg BT 568.30 131.65 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 119.65 Td (Company ) Tj ET Q q 0 0 0 rg BT 73.47 119.65 Td (reallocating ) Tj ET Q q 0 0 0 rg BT 123.75 119.65 Td (assets ) Tj ET Q q 0 0 0 rg BT 150.17 119.65 Td (from ) Tj ET Q q 0 0 0 rg BT 172.69 119.65 Td (fixed ) Tj ET Q q 0 0 0 rg BT 196.32 119.65 Td (maturities ) Tj ET Q q 0 0 0 rg BT 239.40 119.65 Td (to ) Tj ET Q q 0 0 0 rg BT 250.26 119.65 Td (higher ) Tj ET Q q 0 0 0 rg BT 278.89 119.65 Td (yielding ) Tj ET Q q 0 0 0 rg BT 314.75 119.65 Td (assets, ) Tj ET Q q 0 0 0 rg BT 343.67 119.65 Td (such ) Tj ET Q q 0 0 0 rg BT 365.08 119.65 Td (as ) Tj ET Q q 0 0 0 rg BT 376.50 119.65 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 417.35 119.65 Td (loans ) Tj ET Q q 0 0 0 rg BT 441.54 119.65 Td (and ) Tj ET Q q 0 0 0 rg BT 459.06 119.65 Td (limited ) Tj ET Q q 0 0 0 rg BT 490.48 119.65 Td (partnerships ) Tj ET Q q 0 0 0 rg BT 542.44 119.65 Td (and ) Tj ET Q q 0 0 0 rg BT 559.96 119.65 Td (other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 107.65 Td (alternative ) Tj ET Q q 0 0 0 rg BT 76.20 107.65 Td (investments. ) Tj ET Q endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (40) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Net Realized Capital Gains \(Losses\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 179.27 713.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 673.75 320.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 673.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 673.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 673.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 673.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 673.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 673.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 645.75 320.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 645.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 645.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 645.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 645.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 645.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 645.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 617.75 320.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 617.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 617.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 617.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 617.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 617.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 617.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 589.75 320.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 589.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 589.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 589.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 589.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 589.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 589.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 561.75 320.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 561.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 561.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 561.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 561.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 561.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 561.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 533.75 320.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 533.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 533.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 533.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 533.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 533.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 533.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 505.75 320.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 505.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 505.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 505.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 505.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 490.00 505.75 4.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 505.75 65.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356 688.75 m 421 688.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 688.75 m 425 688.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 425 688.75 m 490 688.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 490 688.75 m 494 688.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494 688.75 m 559 688.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 673.75 m 352 673.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 673.75 m 356 673.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356 673.75 m 421 673.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 673.75 m 425 673.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 425 673.75 m 490 673.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 490 673.75 m 494 673.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494 673.75 m 559 673.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494 673.75 m 559 673.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 547.75 m 352 547.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 547.75 m 356 547.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356 547.75 m 421 547.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 547.75 m 425 547.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 425 547.75 m 490 547.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 490 547.75 m 494 547.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494 547.75 m 559 547.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 519.75 m 352 519.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 519.75 m 356 519.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356 519.75 m 421 519.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 519.75 m 425 519.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 425 519.75 m 490 519.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 490 519.75 m 494 519.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494 519.75 m 559 519.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 491.75 m 352 491.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 491.75 m 356 491.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356 491.75 m 421 491.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 491.75 m 425 491.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 425 491.75 m 490 491.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 490 491.75 m 494 491.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494 491.75 m 559 491.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 478.75 m 352 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352 478.75 m 356 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 478.75 m 421 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 478.75 m 425 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 478.75 m 490 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 490 478.75 m 494 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 478.75 m 559 478.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 693.32 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.40 693.43 Td (For the years ended December 31,) Tj ET Q BT /F5 9.00 Tf ET q 0 0 0 rg BT 34.50 678.20 Td (\(Before tax\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.00 678.43 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.00 678.43 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.25 678.43 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 664.32 Td (Gross gains on sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.50 664.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.65 664.32 Td (2,387) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.50 664.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 664.32 Td (821) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.50 664.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.15 664.32 Td (687) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 650.32 Td (Gross losses on sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.80 650.37 Td (\(692) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 650.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.80 650.37 Td (\(440) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.15 650.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.80 650.32 Td (\(384) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.15 650.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 636.32 Td (Net OTTI losses recognized in earnings [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.80 636.37 Td (\(73) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 636.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.80 636.37 Td (\(349) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.15 636.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.80 636.32 Td (\(174) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.15 636.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 622.32 Td (Valuation allowances on mortgage loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.80 622.37 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 622.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 622.32 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 622.32 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 608.32 Td (Japanese fixed annuity contract hedges, net [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.15 608.32 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.80 608.37 Td (\(36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.15 608.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.15 608.32 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 594.32 Td (Periodic net coupon settlements on credit derivatives/Japan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.80 594.37 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 594.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.80 594.37 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.15 594.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.80 594.32 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.15 594.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 580.32 Td (Results of variable annuity hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 566.32 Td (U.S. GMWB derivatives, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.15 566.32 Td (262) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 566.32 Td (519) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.80 566.32 Td (\(397) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.15 566.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 552.32 Td (U.S. macro hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.80 552.37 Td (\(234) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 552.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.80 552.37 Td (\(340) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.15 552.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.80 552.32 Td (\(216) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.15 552.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 538.32 Td (Total U.S. program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.15 538.32 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 538.32 Td (179) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.80 538.32 Td (\(613) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.15 538.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 524.32 Td (International program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.30 524.37 Td (\(1,586) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 524.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.30 524.37 Td (\(1,467) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.15 524.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.15 524.32 Td (691) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 510.32 Td (Total results of variable annuity hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.30 510.37 Td (\(1,558) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 510.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.30 510.37 Td (\(1,288) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.15 510.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 510.32 Td (78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 496.32 Td (Other, net [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.15 496.32 Td (445) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 496.32 Td (544) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.80 496.32 Td (\(450) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.15 496.32 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 482.48 Td (Net realized capital gains \(losses\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.50 482.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 402.15 482.48 Td (507) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.50 482.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.80 482.53 Td (\(744) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 486.15 482.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 496.50 482.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.80 482.48 Td (\(226) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 555.15 482.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 462.45 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 462.45 Td (Includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 82.24 462.45 Td ($177) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 100.24 462.45 Td ( of intent-to-sell impairments for the year ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 275.21 462.45 Td (December31, 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 345.94 462.45 Td (, r) Tj ET Q q 0 0 0 rg BT 353.61 462.45 Td (elating to the sales of the Retir) Tj ET Q q 0 0 0 rg BT 463.75 462.45 Td (ement Plans and Individual Life ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 451.65 Td (businesses in 2013.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 440.85 Td ([2] ) Tj ET Q q 0 0 0 rg BT 49.50 440.85 Td (Relates to the Japanese fixed annuity pr) Tj ET Q q 0 0 0 rg BT 193.13 440.85 Td (oducts \(adjustment of pr) Tj ET Q q 0 0 0 rg BT 280.54 440.85 Td (oduct liability for changes in spot curr) Tj ET Q q 0 0 0 rg BT 419.19 440.85 Td (ency exchange rates, r) Tj ET Q q 0 0 0 rg BT 499.83 440.85 Td (elated derivative ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 430.05 Td (hedging instruments excluding periodic net coupon settlements, and the change in value r) Tj ET Q q 0 0 0 rg BT 372.35 430.05 Td (elated to Japan government FV) Tj ET Q q 0 0 0 rg BT 485.55 430.05 Td (O securities\).) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td ([3] ) Tj ET Q q 0 0 0 rg BT 49.50 419.25 Td (Primarily consists of transactional for) Tj ET Q q 0 0 0 rg BT 187.17 419.25 Td (eign curr) Tj ET Q q 0 0 0 rg BT 220.08 419.25 Td (ency r) Tj ET Q q 0 0 0 rg BT 241.98 419.25 Td (e-valuation associated with the internal r) Tj ET Q q 0 0 0 rg BT 390.38 419.25 Td (einsurance of the Japan variable annuity business, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 408.45 Td (which is primarily offset in ) Tj ET Q q 0 0 0 rg BT 148.59 408.45 Td (AOCI, and gains and losses on non-qualifying derivatives.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 393.45 Td (Details ) Tj ET Q q 0 0 0 rg BT 62.33 393.45 Td (on ) Tj ET Q q 0 0 0 rg BT 74.83 393.45 Td (the ) Tj ET Q q 0 0 0 rg BT 89.54 393.45 Td (Company) Tj ET Q q 0 0 0 rg BT 131.21 393.45 Td (s ) Tj ET Q q 0 0 0 rg BT 137.60 393.45 Td (net ) Tj ET Q q 0 0 0 rg BT 152.32 393.45 Td (realized ) Tj ET Q q 0 0 0 rg BT 186.46 393.45 Td (capital ) Tj ET Q q 0 0 0 rg BT 215.61 393.45 Td (gains ) Tj ET Q q 0 0 0 rg BT 239.21 393.45 Td (and ) Tj ET Q q 0 0 0 rg BT 256.15 393.45 Td (losses ) Tj ET Q q 0 0 0 rg BT 282.54 393.45 Td (are ) Tj ET Q q 0 0 0 rg BT 297.25 393.45 Td (as ) Tj ET Q q 0 0 0 rg BT 308.08 393.45 Td (follows:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 375.45 Td (Gr) Tj ET Q q 0 0 0 rg BT 42.24 375.45 Td (oss gains and losses on sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 357.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 357.45 Td (Gross gains on sales for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 208.34 357.45 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.93 357.45 Td ( were predominately from the sale of the Retirement Plans and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 345.45 Td (Individual Life businesses resulting in a gain of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.24 345.45 Td ($1.5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.35 345.45 Td (. ) Tj ET Q q 0 0 0 rg BT 293.17 345.45 Td (The remaining gains on sales were primarily due to the sales of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 333.45 Td (corporate securities and tax-exempt municipals. Gross losses on sales were primarily the result of the sales of U.S. ) Tj ET Q q 0 0 0 rg BT 511.98 333.45 Td (T) Tj ET Q q 0 0 0 rg BT 517.73 333.45 Td (reasuries and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 321.45 Td (mortgage backed securities. ) Tj ET Q q 0 0 0 rg BT 165.66 321.45 Td (The sales were predominantly due to management of duration and liquidity as well as progress towards ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 309.45 Td (sector allocation objectives.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 291.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 291.45 Td (Gross gains and losses on sales for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.67 291.45 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.26 291.45 Td ( were predominately from investment grade corporate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 279.45 Td (securities, municipal bonds, mortgage backed securities and U.S. ) Tj ET Q q 0 0 0 rg BT 312.03 279.45 Td (T) Tj ET Q q 0 0 0 rg BT 317.79 279.45 Td (reasuries. ) Tj ET Q q 0 0 0 rg BT 360.64 279.45 Td (These sales were the result of tactical portfolio ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 267.45 Td (management as well as to maintain duration tar) Tj ET Q q 0 0 0 rg BT 238.43 267.45 Td (gets.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 249.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 249.45 Td (Gross gains and losses on sales for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.67 249.45 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 324.89 249.45 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.89 249.45 Td ( were predominately from investment grade corporate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 237.45 Td (securities, U.S. ) Tj ET Q q 0 0 0 rg BT 112.37 237.45 Td (T) Tj ET Q q 0 0 0 rg BT 118.12 237.45 Td (reasuries, municipal bonds and commercial real estate related securities. ) Tj ET Q q 0 0 0 rg BT 411.71 237.45 Td (These sales were the result of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 225.45 Td (reinvestment into spread product well-positioned for modest economic growth, as well as the purposeful reduction of certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 213.45 Td (exposures.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 195.45 Td (Net OTTI losses) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 177.45 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 177.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 177.45 Td (See Other) Tj ET Q q 0 0 0 rg BT 89.01 177.45 Td (-Than-T) Tj ET Q q 0 0 0 rg BT 121.62 177.45 Td (emporary Impairments within the Investment Portfolio Risks and Risk Management section of the MD&A.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 159.45 Td (V) Tj ET Q q 0 0 0 rg BT 36.50 159.45 Td (aluation allowances on mortgage loans) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 141.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 141.45 Td (See ) Tj ET Q q 0 0 0 rg BT 66.26 141.45 Td (V) Tj ET Q q 0 0 0 rg BT 72.37 141.45 Td (aluation ) Tj ET Q q 0 0 0 rg BT 106.53 141.45 Td (Allowances on Mortgage Loans within the Investment Portfolio Risks and Risk Management section of the MD&A.) Tj ET Q endstream endobj 83 0 obj <> endobj 84 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (41) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (V) Tj ET Q q 0 0 0 rg BT 36.50 713.10 Td (ariable annuity hedge pr) Tj ET Q q 0 0 0 rg BT 135.28 713.10 Td (ogram ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 695.10 Td (For the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.69 695.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.28 695.10 Td ( the gain on U.S. GMWB related derivatives, net, was primarily related to gains of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.69 695.10 Td ($203) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.69 695.10 Td ( from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 683.10 Td (revaluing the liability for living benefits lar) Tj ET Q q 0 0 0 rg BT 222.61 683.10 Td (gely driven by favorable policyholder behavior related to increased surrenders and gains ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 671.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.33 671.10 Td ($38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 75.33 671.10 Td ( due to liability assumption updates for lapses and withdrawal rates. ) Tj ET Q q 0 0 0 rg BT 351.48 671.10 Td (The loss on the U.S. macro hedge program for the year ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 659.10 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 75.88 659.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.46 659.10 Td ( was primarily driven by losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.49 659.10 Td ($1) Tj ET Q q 0 0 0 rg BT 302.12 659.10 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 312.12 659.10 Td ( due to an improvement in domestic equity markets, losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.85 659.10 Td ($56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.85 659.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 647.10 Td (related to an increase in interest rates, and losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.92 647.10 Td ($31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.92 647.10 Td ( related to a decrease in equity market volatility) Tj ET Q q 0 0 0 rg BT 461.75 647.10 Td (. ) Tj ET Q q 0 0 0 rg BT 471.57 647.10 Td (The loss on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 635.10 Td (international program for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.88 635.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.46 635.10 Td ( was primarily driven by losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.49 635.10 Td ($1.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.60 635.10 Td ( related to an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 623.10 Td (improvement in global equity markets and losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.90 623.10 Td ($608) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.90 623.10 Td ( lar) Tj ET Q q 0 0 0 rg BT 291.77 623.10 Td (gely related to depreciation of the Japanese yen in relation to the euro. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (For the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.69 605.10 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.28 605.10 Td ( the gain on U.S. GMWB related derivatives, net, was primarily driven by liability model ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (assumption updates of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.43 593.10 Td ($274) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.43 593.10 Td ( lar) Tj ET Q q 0 0 0 rg BT 174.30 593.10 Td (gely related to a reduction in the reset assumptions to better align with actual experience, gains of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td ($106) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 69.50 581.10 Td ( related to outperformance of underlying actively managed funds compared to their respective indices, and gains of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.66 581.10 Td ($83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.66 581.10 Td ( driven ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (by a decline in equity market volatility) Tj ET Q q 0 0 0 rg BT 203.81 569.10 Td (. ) Tj ET Q q 0 0 0 rg BT 211.13 569.10 Td (The loss on the U.S. macro hedge program for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.93 569.10 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 538.52 569.10 Td ( was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (primarily driven by losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 166.98 557.10 Td ($167) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.98 557.10 Td ( related to the passage of time, losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.60 557.10 Td ($1) Tj ET Q q 0 0 0 rg BT 358.23 557.10 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.23 557.10 Td ( due to an improvement in domestic equity markets, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (and losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.66 545.10 Td ($60) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.66 545.10 Td ( related to a decrease in equity market volatility) Tj ET Q q 0 0 0 rg BT 308.49 545.10 Td (. ) Tj ET Q q 0 0 0 rg BT 318.31 545.10 Td (The loss on the international program for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 128.08 533.10 Td ( was primarily driven by losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.12 533.10 Td ($795) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.12 533.10 Td ( related to an improvement in global equity markets and losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.94 533.10 Td ($672) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.94 533.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (related to depreciation of the Japanese yen in relation to the euro and the U.S. dollar) Tj ET Q q 0 0 0 rg BT 385.22 521.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 503.10 Td (For the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.69 503.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 199.91 503.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.91 503.10 Td ( the loss on U.S. GMWB related derivatives, net, was primarily due to a decrease in long-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 491.10 Td (term interest rates that resulted in a loss of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.39 491.10 Td ($283) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.39 491.10 Td ( and higher interest rate volatility that resulted in a loss of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.67 491.10 Td ($84) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.67 491.10 Td (. ) Tj ET Q q 0 0 0 rg BT 496.99 491.10 Td (The loss on the U.S. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 479.10 Td (macro hedge program for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.70 479.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 287.91 479.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.91 479.10 Td ( was primarily driven by the passage of time and a decrease in equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 467.10 Td (market volatility since the purchase date of certain options during the fourth quarter) Tj ET Q q 0 0 0 rg BT 383.84 467.10 Td (. ) Tj ET Q q 0 0 0 rg BT 391.16 467.10 Td (The gain associated with the international ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 455.10 Td (program for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 160.84 455.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 234.05 455.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.05 455.10 Td ( was primarily driven by the Japanese yen strengthening, a decline in global equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 443.10 Td (markets, and a decrease in interest rates. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (Other) Tj ET Q q 0 0 0 rg BT 53.72 425.10 Td (, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 407.10 Td (Other) Tj ET Q q 0 0 0 rg BT 71.87 407.10 Td (, net gain for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.26 407.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.85 407.10 Td ( was partially related to gains of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.64 407.10 Td ($239) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.64 407.10 Td ( on transactional foreign currency re-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 395.10 Td (valuation primarily associated with the internal reinsurance of the Japan variable annuity business, which is of) Tj ET Q q 0 0 0 rg BT 490.30 395.10 Td (fset in ) Tj ET Q q 0 0 0 rg BT 516.97 395.10 Td (AOCI, due to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 383.10 Td (depreciation of the Japanese yen versus the U.S. dollar) Tj ET Q q 0 0 0 rg BT 267.77 383.10 Td (. Gains of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 311.93 383.10 Td ($71) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.93 383.10 Td ( on interest derivatives were primarily associated with fixed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 371.10 Td (rate bonds sold as part of the Individual Life and Retirement Plans business dispositions. For further information on the business ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 359.10 Td (dispositions, see Note 2 of Notes to Consolidated Financial Statements. ) Tj ET Q q 0 0 0 rg BT 339.75 359.10 Td (Additional gains included ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.56 359.10 Td ($69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.56 359.10 Td ( on interest rate derivatives ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 347.10 Td (primarily due to an increase in U.S. interest rates and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.43 347.10 Td ($42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.43 347.10 Td ( of gains on credit derivatives due to credit spreads tightening.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (Other) Tj ET Q q 0 0 0 rg BT 71.87 329.10 Td (, net gain for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.26 329.10 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.85 329.10 Td ( was primarily related to gains of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.53 329.10 Td ($313) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.53 329.10 Td ( on credit derivatives due to credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 317.10 Td (spreads tightening, gains of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.98 317.10 Td ($251) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.98 317.10 Td ( on transactional foreign currency re-valuation primarily associated with the internal reinsurance of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (the Japan variable annuity business, which is of) Tj ET Q q 0 0 0 rg BT 239.83 305.10 Td (fset in ) Tj ET Q q 0 0 0 rg BT 266.50 305.10 Td (AOCI, and gains of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.32 305.10 Td ($96) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.32 305.10 Td ( on interest derivatives lar) Tj ET Q q 0 0 0 rg BT 465.99 305.10 Td (gely driven by the de-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (designation of the cash flow hedges associated with bonds included in the sale of Individual Life and Retirement Plans businesses. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (For further information on the business dispositions, see Note 2 of Notes to the Consolidated Financial Statements. ) Tj ET Q q 0 0 0 rg BT 514.26 281.10 Td (These gains ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (were partially of) Tj ET Q q 0 0 0 rg BT 115.40 269.10 Td (fset by losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.06 269.10 Td ($1) Tj ET Q q 0 0 0 rg BT 191.69 269.10 Td (1) Tj ET Q q 0 0 0 rg BT 196.32 269.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.32 269.10 Td ( related to Japan 3W) Tj ET Q q 0 0 0 rg BT 283.10 269.10 Td (in foreign currency swaps primarily driven by the strengthening of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (currency basis swap spread between the U.S. dollar and Japanese yen and the decline in U.S. interest rates. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 239.10 Td (Other) Tj ET Q q 0 0 0 rg BT 71.87 239.10 Td (, net loss for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.61 239.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 257.82 239.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.82 239.10 Td ( was primarily due to losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.52 239.10 Td ($148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.52 239.10 Td ( on credit derivatives driven by credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 227.10 Td (spreads widening and losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 175.87 227.10 Td ($129) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 195.87 227.10 Td ( on transactional foreign currency re-valuation primarily associated with the internal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 215.10 Td (reinsurance of the Japan variable annuity business, which is of) Tj ET Q q 0 0 0 rg BT 299.25 215.10 Td (fset in ) Tj ET Q q 0 0 0 rg BT 325.91 215.10 Td (AOCI. ) Tj ET Q q 0 0 0 rg BT 357.30 215.10 Td (Additionally losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.58 215.10 Td ($94) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.58 215.10 Td ( for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 203.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 122.71 203.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.71 203.10 Td ( resulted from equity futures and options used to hedge equity market risk in the investment portfolio due to an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 191.10 Td (increase in equity market during the hedged period. ) Tj ET Q q 0 0 0 rg BT 259.99 191.10 Td (Also included were losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.46 191.10 Td ($69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.46 191.10 Td ( on Japan 3W) Tj ET Q q 0 0 0 rg BT 446.77 191.10 Td (in foreign currency swaps ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 179.10 Td (primarily driven by a decrease in long-term U.S. interest rates. ) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (42) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (CRITICAL) Tj ET Q q 0 0 0 rg BT 80.96 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 82.91 713.25 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 154.85 713.25 Td (ESTIMA) Tj ET Q q 0 0 0 rg BT 193.57 713.25 Td (TES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The preparation of financial statements, in conformity with accounting principles generally accepted in the United States of ) Tj ET Q q 0 0 0 rg BT 527.45 695.25 Td (America ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (\(U.S. GAAP\), requires management to make estimates and assumptions that af) Tj ET Q q 0 0 0 rg BT 355.96 683.25 Td (fect the reported amounts of assets and liabilities and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (during the reporting period. ) Tj ET Q q 0 0 0 rg BT 143.98 659.25 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 237.38 659.25 Td (fer) Tj ET Q q 0 0 0 rg BT 248.08 659.25 Td (, and in the past have dif) Tj ET Q q 0 0 0 rg BT 345.93 659.25 Td (fered, from those estimates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (The Company has identified the following estimates as critical in that they involve a higher degree of judgment and are subject to a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (significant degree of variability:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 611.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 611.25 Td (property and casualty insurance product reserves, net of reinsurance;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 593.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 593.25 Td (estimated gross profits used in the valuation and amortization of assets and liabilities associated with variable annuity and other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 581.25 Td (universal life-type contracts;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 563.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 563.25 Td (evaluation of other) Tj ET Q q 0 0 0 rg BT 132.18 563.25 Td (-than-temporary impairments on available-for) Tj ET Q q 0 0 0 rg BT 315.52 563.25 Td (-sale securities and valuation allowances on mortgage loans;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 545.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 545.25 Td (living benefits required to be fair valued \(in other policyholder funds and benefits payable\);) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 527.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 527.25 Td (goodwill impairment;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 509.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 509.25 Td (valuation of investments and derivative instruments;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 491.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 491.25 Td (valuation allowance on deferred tax assets; and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 473.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 473.25 Td (contingencies relating to corporate litigation and regulatory matters.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.25 Td (Certain of these estimates are particularly sensitive to market conditions, and deterioration and/or volatility in the worldwide debt or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (equity markets could have a material impact on the Consolidated Financial Statements. In developing these estimates management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.25 Td (makes subjective and complex judgments that are inherently uncertain and subject to material change as facts and circumstances ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (develop. ) Tj ET Q q 0 0 0 rg BT 67.60 419.25 Td (Although variability is inherent in these estimates, management believes the amounts provided are appropriate based upon the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.25 Td (facts available upon compilation of the financial statements.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (Property and Casualty Insurance Product Reserves, Net of Reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.25 Td (The Hartford establishes reserves on its property and casualty insurance products to provide for the estimated costs of paying claims ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.25 Td (under insurance policies written by the Company) Tj ET Q q 0 0 0 rg BT 227.47 359.25 Td (. ) Tj ET Q q 0 0 0 rg BT 232.29 359.25 Td (These reserves include estimates for both claims that have been reported and those that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (have not yet been reported, and include estimates of all expenses associated with processing and settling these claims. Incurred but not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (reported \(IBNR\) reserves represent the dif) Tj ET Q q 0 0 0 rg BT 209.29 335.25 Td (ference between the estimated ultimate cost of all claims and the actual reported loss and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.25 Td (loss adjustment expenses \(reported losses\). Reported losses represent cumulative loss and loss adjustment expenses paid plus case ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.25 Td (reserves for outstanding reported claims. Company actuaries evaluate the total reserves \(IBNR and case reserves\) on an accident year ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.25 Td (basis. ) Tj ET Q q 0 0 0 rg BT 55.95 299.25 Td (An accident year is the calendar year in which a loss is incurred, or) Tj ET Q q 0 0 0 rg BT 323.78 299.25 Td (, in the case of claims-made policies, the calendar year in which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.25 Td (a loss is reported.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.25 Td (Reserve estimates can change over time because of unexpected changes in the external environment. Potential external factors include ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.25 Td (\(1\)changes in the inflation rate for goods and services related to covered damages such as medical care, hospital care, auto parts, wages ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.25 Td (and home repair; \(2\) changes in the general economic environment that could cause unanticipated changes in the claim frequency per ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (unit insured; \(3\)changes in the litigation environment as evidenced by changes in claimant attorney representation in the claims ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.25 Td (negotiation and settlement process; \(4\)changes in the judicial environment regarding the interpretation of policy provisions relating to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.25 Td (the determination of coverage and/or the amount of damages awarded for certain types of damages; \(5\) changes in the social ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.25 Td (environment regarding the general attitude of juries in the determination of liability and damages; \(6\)changes in the legislative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.25 Td (environment regarding the definition of damages; and \(7\)new types of injuries caused by new types of injurious exposure: past ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (examples include lead paint, construction defects and tainted Chinese-made drywall.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.25 Td (Reserve estimates can also change over time because of changes in internal Company operations. Potential internal factors include ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.25 Td (\(1\)periodic changes in claims handling procedures; \(2\)growth in new lines of business where exposure and loss development patterns ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.25 Td (are not well established; or \(3\)changes in the quality of risk selection in the underwriting process.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.25 Td (In the case of assumed reinsurance, all of the above risks apply) Tj ET Q q 0 0 0 rg BT 282.98 113.25 Td (. In addition, changes in ceding company case reserving and reporting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.25 Td (patterns can create additional factors that need to be considered in estimating the reserves. Due to the inherent complexity of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.25 Td (assumptions used, final claim settlements may vary significantly from the present estimates, particularly when those settlements may not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 77.25 Td (occur until well into the future.) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Through both facultative and treaty reinsurance agreements, the Company cedes a share of the risks it has underwritten to other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (insurance companies. ) Tj ET Q q 0 0 0 rg BT 119.90 701.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 179.61 701.10 Td (s net reserves for loss and loss adjustment expenses include anticipated recovery from reinsurers on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (unpaid claims. ) Tj ET Q q 0 0 0 rg BT 92.14 689.10 Td (The estimated amount of the anticipated recovery) Tj ET Q q 0 0 0 rg BT 289.74 689.10 Td (, or reinsurance recoverable, is net of an allowance for uncollectible ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (reinsurance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (Reinsurance recoverables include an estimate of the amount of gross loss and loss adjustment expense reserves that may be ceded under ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (the terms of the reinsurance agreements, including IBNR unpaid losses. ) Tj ET Q q 0 0 0 rg BT 320.69 647.10 Td (The Company calculates its ceded reinsurance projection based ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (on the terms of any applicable facultative and treaty reinsurance, often including an estimate by reinsurance agreement of how IBNR ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (losses will ultimately be ceded.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (The Company provides an allowance for uncollectible reinsurance, reflecting management) Tj ET Q q 0 0 0 rg BT 396.91 605.10 Td (s best estimate of reinsurance cessions that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (may be uncollectible in the future due to reinsurers) Tj ET Q q 0 0 0 rg BT 237.91 593.10 Td ( unwillingness or inability to pay) Tj ET Q q 0 0 0 rg BT 369.19 593.10 Td (. ) Tj ET Q q 0 0 0 rg BT 374.01 593.10 Td (The Company analyzes recent developments in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.10 Td (commutation activity between reinsurers and cedants, recent trends in arbitration and litigation outcomes in disputes between reinsurers ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (and cedants and the overall credit quality of the Company) Tj ET Q q 0 0 0 rg BT 265.59 569.10 Td (s reinsurers. ) Tj ET Q q 0 0 0 rg BT 316.23 569.10 Td (Where its contracts permit, the Company secures future claim ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (obligations with various forms of collateral, including irrevocable letters of credit, secured trusts, funds held accounts and group-wide ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (of) Tj ET Q q 0 0 0 rg BT 39.65 545.10 Td (fsets. ) Tj ET Q q 0 0 0 rg BT 62.80 545.10 Td (The allowance for uncollectible reinsurance was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.82 545.10 Td ($244) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.82 545.10 Td ( as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.98 545.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.56 545.10 Td (, comprised of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.55 545.10 Td ($42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.55 545.10 Td ( related to Property & ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (Casualty Commercial and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 137.86 533.10 Td ($202) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 157.86 533.10 Td ( related to Property & Casualty Other Operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 515.10 Td (s estimate of reinsurance recoverables, net of an allowance for uncollectible reinsurance, is subject to similar risks and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.10 Td (uncertainties as the estimate of the gross reserve for unpaid losses and loss adjustment expenses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (The Hartford, like other insurance companies, categorizes and tracks its insurance reserves for its segments by line of business. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 86.30 473.10 Td (The Hartford regularly reviews the appropriateness of reserve levels at the line of business level, taking into consideration ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (the variety of trends that impact the ultimate settlement of claims for the subsets of claims in each particular line of business. In addition, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (Property & Casualty Other Operations categorizes reserves as asbestos and environmental \(A&E\), whereby the Company reviews ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (these reserve levels by type of event, rather than by line of business. ) Tj ET Q q 0 0 0 rg BT 306.14 437.10 Td (Adjustments to previously established reserves, which may be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (material, are reflected in the operating results of the period in which the adjustment is determined to be necessary) Tj ET Q q 0 0 0 rg BT 484.30 425.10 Td (. In the judgment of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (management, information currently available has been properly considered in the reserves established for losses and loss adjustment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (expenses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (Loss and loss adjustment expense reserves by line of business as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.12 383.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.70 383.10 Td (, net of reinsurance are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 342.60 155.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 342.60 97.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 342.60 95.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 342.60 100.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 342.60 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 314.60 155.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 314.60 97.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 314.60 95.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 314.60 100.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 314.60 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 286.60 155.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 286.60 97.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 286.60 95.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 286.60 100.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 286.60 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 258.60 155.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 258.60 97.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 258.60 95.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 258.60 100.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 258.60 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 230.60 155.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 230.60 97.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 230.60 95.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 230.60 100.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 230.60 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 202.60 155.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 202.60 97.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 202.60 95.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 202.60 100.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 202.60 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 174.60 155.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 174.60 97.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 174.60 95.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 174.60 100.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 174.60 93.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 147.60 155.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 147.60 97.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 284.00 147.60 95.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 147.60 100.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 147.60 93.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 342.6 m 187 342.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 187 342.6 m 284 342.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284 342.6 m 379 342.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379 342.6 m 479 342.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479 342.6 m 572 342.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 160.60000000000002 m 187 160.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 187 160.60000000000002 m 284 160.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284 160.60000000000002 m 379 160.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379 160.60000000000002 m 479 160.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479 160.60000000000002 m 572 160.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 133.60000000000002 m 187 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 120.60000000000002 m 187 120.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 187 133.60000000000002 m 284 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187 120.60000000000002 m 284 120.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 284 133.60000000000002 m 379 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 284 120.60000000000002 m 379 120.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379 133.60000000000002 m 479 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 120.60000000000002 m 479 120.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479 133.60000000000002 m 572 133.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 120.60000000000002 m 572 120.60000000000002 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 190.35 357.28 Td (Property & Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 208.70 347.28 Td (Commercial) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.85 357.28 Td (Consumer) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 312.95 347.28 Td (Markets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.85 357.28 Td (Pr) Tj ET Q q 0 0 0 rg BT 394.22 357.28 Td (operty & Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 390.65 347.28 Td (Other) Tj ET Q q 0 0 0 rg BT 416.02 347.28 Td ( Operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.30 357.28 Td (T) Tj ET Q q 0 0 0 rg BT 494.05 357.28 Td (otal Pr) Tj ET Q q 0 0 0 rg BT 523.03 357.28 Td (operty &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.10 347.28 Td (Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 333.28 Td (Reserve Line of Business) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.50 333.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.50 333.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 333.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.50 333.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 319.17 Td (Auto liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.50 319.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.15 319.17 Td (691) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.50 319.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.65 319.17 Td (1,372) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 319.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 319.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.50 319.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.65 319.17 Td (2,063) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 305.17 Td (Auto physical damage) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.15 305.17 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 305.17 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 305.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 305.17 Td (43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 291.17 Td (Homeowners) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.15 291.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 291.17 Td (422) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 291.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 291.17 Td (422) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 277.17 Td (Professional liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.15 277.17 Td (631) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 277.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 277.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 277.17 Td (631) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 263.17 Td (Package business) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.65 263.17 Td (1,236) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 263.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 263.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.65 263.17 Td (1,236) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 249.17 Td (General liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.65 249.17 Td (2,480) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 249.17 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 249.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.65 249.17 Td (2,511) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 235.17 Td (Fidelity and surety) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.15 235.17 Td (180) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 235.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 235.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 235.17 Td (180) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 221.17 Td (Commercial property) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.15 221.17 Td (130) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 221.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 221.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 221.17 Td (130) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 207.17 Td (A&E) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.15 207.17 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 207.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.65 207.17 Td (1,985) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.65 207.17 Td (2,008) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 193.17 Td (Workers compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.65 193.17 Td (8,463) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 193.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 193.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.65 193.17 Td (8,463) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 179.17 Td (Assumed reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.15 179.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 179.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 179.17 Td (265) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 179.17 Td (265) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 165.17 Td (All other non-A&E) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.15 165.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 165.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 165.17 Td (724) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 165.17 Td (724) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 151.33 Td (Total reserves-net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.65 151.33 Td (13,851) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 352.65 151.33 Td (1,851) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.65 151.33 Td (2,974) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 540.65 151.33 Td (18,676) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 138.17 Td (Reinsurance and other recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.65 138.17 Td (2,442) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 138.17 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 138.17 Td (573) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.65 138.17 Td (3,028) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 124.33 Td (Total reserves-gross) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 189.50 124.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.65 124.33 Td (16,293) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 286.50 124.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 352.65 124.33 Td (1,864) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 381.50 124.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.65 124.33 Td (3,547) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 481.50 124.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 540.65 124.33 Td (21,704) Tj ET Q BT /F2 10.00 Tf ET endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (44) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Reserving Methodology) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (\(See Reserving for) Tj ET Q q 0 0 0 rg BT 109.63 695.25 Td ( ) Tj ET Q q 0 0 0 rg BT 111.57 695.25 Td (Asbestos and Envir) Tj ET Q q 0 0 0 rg BT 194.19 695.25 Td (onmental Claims within Pr) Tj ET Q q 0 0 0 rg BT 309.29 695.25 Td (operty & Casualty Other) Tj ET Q q 0 0 0 rg BT 416.04 695.25 Td ( Operations for) Tj ET Q q 0 0 0 rg BT 481.40 695.25 Td ( a discussion of how ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (A&E r) Tj ET Q q 0 0 0 rg BT 60.48 683.25 Td (eserves ar) Tj ET Q q 0 0 0 rg BT 102.77 683.25 Td (e set\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (How r) Tj ET Q q 0 0 0 rg BT 56.41 665.25 Td (eserves ar) Tj ET Q q 0 0 0 rg BT 96.86 665.25 Td (e set) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (Reserves are set by line of business within the various segments. ) Tj ET Q q 0 0 0 rg BT 292.01 647.25 Td (A) Tj ET Q q 0 0 0 rg BT 298.68 647.25 Td ( single line of business may be written in more than one segment. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (Case reserves are established by a claims handler on each individual claim and are adjusted as new information becomes known during ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (the course of handling the claim. Lines of business for which loss data \(e.g., paid losses and case reserves\) emer) Tj ET Q q 0 0 0 rg BT 479.24 623.25 Td (ge \(i.e., is reported\) over ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (a long period of time are referred to as long-tail lines of business. Lines of business for which loss data emer) Tj ET Q q 0 0 0 rg BT 465.37 611.25 Td (ge more quickly are referred ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (to as short-tail lines of business. ) Tj ET Q q 0 0 0 rg BT 162.14 599.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 221.85 599.25 Td (s shortest-tail lines of business are property and auto physical damage. ) Tj ET Q q 0 0 0 rg BT 506.04 599.25 Td (The longest tail ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (lines of business include workers) Tj ET Q q 0 0 0 rg BT 166.84 587.25 Td ( compensation, general liability) Tj ET Q q 0 0 0 rg BT 292.27 587.25 Td (, professional liability and assumed reinsurance. For short-tail lines of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (business, emer) Tj ET Q q 0 0 0 rg BT 90.20 575.25 Td (gence of paid loss and case reserves is credible and likely indicative of ultimate losses. For long-tail lines of business, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (emer) Tj ET Q q 0 0 0 rg BT 51.30 563.25 Td (gence of paid losses and case reserves is less credible in the early periods and, accordingly) Tj ET Q q 0 0 0 rg BT 412.75 563.25 Td (, may not be indicative of ultimate losses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 545.25 Td (s reserving actuaries, who are independent of the business units, regularly review reserves for both current and prior ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (accident years using the most current claim data. For most lines of business, these reserve reviews incorporate a variety of actuarial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (methods and judgments and involve rigorous analysis. ) Tj ET Q q 0 0 0 rg BT 251.29 521.25 Td (These selections incorporate input, as judged by the reserving actuaries to be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (appropriate, from claims personnel, pricing actuaries and operating management on reported loss cost trends and other factors that could ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.25 Td (af) Tj ET Q q 0 0 0 rg BT 39.09 497.25 Td (fect the reserve estimates. Most reserves are reviewed fully each quarter) Tj ET Q q 0 0 0 rg BT 327.16 497.25 Td (, including loss and loss adjustment expense reserves for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.25 Td (property) Tj ET Q q 0 0 0 rg BT 64.73 485.25 Td (, auto physical damage, auto liability) Tj ET Q q 0 0 0 rg BT 211.54 485.25 Td (, package business, workers) Tj ET Q q 0 0 0 rg BT 325.48 485.25 Td ( compensation, most general liability) Tj ET Q q 0 0 0 rg BT 472.86 485.25 Td (, professional liability and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (fidelity and surety) Tj ET Q q 0 0 0 rg BT 103.61 473.25 Td (. Other reserves are reviewed semi-annually \(twice per year\) or annually) Tj ET Q q 0 0 0 rg BT 392.54 473.25 Td (. ) Tj ET Q q 0 0 0 rg BT 397.36 473.25 Td (These include, but are not limited to, reserves ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (for losses incurred in accident years older than twelve and twenty years, for Consumer Markets and Property & Casualty Commercial, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 449.25 Td (, assumed reinsurance, latent exposures, such as construction defects, and unallocated loss adjustment expense. For reserves ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (that are reviewed semi-annually or annually) Tj ET Q q 0 0 0 rg BT 206.61 437.25 Td (, management monitors the emer) Tj ET Q q 0 0 0 rg BT 337.78 437.25 Td (gence of paid and reported losses in the intervening quarters ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (to either confirm that the estimate of ultimate losses should not change or) Tj ET Q q 0 0 0 rg BT 324.91 425.25 Td (, if necessary) Tj ET Q q 0 0 0 rg BT 376.74 425.25 Td (, perform a reserve review to determine whether ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (the reserve estimate should change.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.25 Td (An expected loss ratio is used in initially recording the reserves for both short-tail and long-tail lines of business. ) Tj ET Q q 0 0 0 rg BT 485.11 395.25 Td (This expected loss ratio ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (is determined through a review of prior accident years) Tj ET Q q 0 0 0 rg BT 250.67 383.25 Td ( loss ratios and expected changes to earned pricing, loss costs, mix of business, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.25 Td (ceded reinsurance and other factors that are expected to impact the loss ratio for the current accident year) Tj ET Q q 0 0 0 rg BT 451.58 371.25 Td (. For short-tail lines, IBNR for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.25 Td (the current accident year is initially recorded as the product of the expected loss ratio for the period, earned premium for the period and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (the proportion of losses expected to be reported in future calendar periods for the current accident period. For long-tailed lines, IBNR ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (reserves for the current accident year are initially recorded as the product of the expected loss ratio for the period and the earned ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.25 Td (premium for the period, less reported losses for the period.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.25 Td (In addition to the expected loss ratio, the actuarial techniques or methods used primarily include paid and reported loss development and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.25 Td (frequency / severity techniques as well as the Bornhuetter) Tj ET Q q 0 0 0 rg BT 262.33 293.25 Td (-Fer) Tj ET Q q 0 0 0 rg BT 278.81 293.25 Td (guson method \(a combination of the expected loss ratio and paid ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.25 Td (development or reported development method\). ) Tj ET Q q 0 0 0 rg BT 224.59 281.25 Td (W) Tj ET Q q 0 0 0 rg BT 233.63 281.25 Td (ithin any one line of business, the methods that are given more influence vary based ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.25 Td (primarily on the maturity of the accident year) Tj ET Q q 0 0 0 rg BT 212.97 269.25 Td (, the mix of business and the particular internal and external influences impacting the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.25 Td (claims experience or the methods. ) Tj ET Q q 0 0 0 rg BT 170.16 257.25 Td (The output of the reserve reviews are reserve estimates that are referred to herein as the actuarial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.25 Td (indication.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.25 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 227.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 227.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.97 227.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.97 227.25 Td (, net property and casualty insurance product reserves for losses and loss adjustment expenses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (reported under accounting principles generally accepted in the United States of ) Tj ET Q q 0 0 0 rg BT 349.44 215.25 Td (America \(U.S. GAAP\) were approximately equal to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.25 Td (net reserves reported on a statutory basis. Under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 273.12 203.25 Td (, liabilities for unpaid losses for permanently disabled workers) Tj ET Q q 0 0 0 rg BT 525.37 203.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.25 Td (compensation claimants are discounted at rates that are no higher than risk-free interest rates and which generally exceed the statutory ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.25 Td (discount rates set by regulators, such that workers) Tj ET Q q 0 0 0 rg BT 233.48 179.25 Td ( compensation reserves for statutory reporting are higher than the net reserves for U.S. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.25 Td (GAAP) Tj ET Q q 0 0 0 rg BT 58.36 167.25 Td ( reporting. Lar) Tj ET Q q 0 0 0 rg BT 116.21 167.25 Td (gely of) Tj ET Q q 0 0 0 rg BT 144.07 167.25 Td (fsetting the ef) Tj ET Q q 0 0 0 rg BT 198.87 167.25 Td (fect of the dif) Tj ET Q q 0 0 0 rg BT 252.83 167.25 Td (ference in discounting is that a portion of the U.S. GAAP) Tj ET Q q 0 0 0 rg BT 481.87 167.25 Td ( provision for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.25 Td (uncollectible reinsurance is not recognized under statutory accounting. Most of the Company) Tj ET Q q 0 0 0 rg BT 406.95 155.25 Td (s property and casualty insurance product ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.25 Td (reserves are not discounted. However) Tj ET Q q 0 0 0 rg BT 181.32 143.25 Td (, the Company has discounted liabilities funded through structured settlements and has discounted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.25 Td (certain reserves for indemnity payments due to permanently disabled claimants under workers) Tj ET Q q 0 0 0 rg BT 410.91 131.25 Td ( compensation policies.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.25 Td (Provided below is a general discussion of which methods are preferred by line of business. Because the actuarial estimates are generated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.25 Td (at a much finer level of detail than line of business \(e.g., by distribution channel, coverage, accident period\), this description should not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.25 Td (be assumed to apply to each coverage and accident year within a line of business. ) Tj ET Q q 0 0 0 rg BT 359.17 89.25 Td (Also, as circumstances change, the methods that are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 77.25 Td (given more influence will change.) Tj ET Q endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (45) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 41.13 713.10 Td (operty and ) Tj ET Q q 0 0 0 rg BT 86.50 713.10 Td (Auto Physical Damage.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.20 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 183.52 713.10 Td (These lines are fast-developing and paid and reported development techniques are used as these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (methods use historical data to develop paid and reported loss development patterns, which are then applied to current paid and reported ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (losses by accident period to estimate ultimate losses. ) Tj ET Q q 0 0 0 rg BT 244.33 689.10 Td (The Company relies primarily on reported development techniques although a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (review of frequency and severity and the initial loss expectation based on the expected loss ratio is used for the most immature accident ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (months. ) Tj ET Q q 0 0 0 rg BT 65.77 665.10 Td (The advantage of frequency / severity techniques is that frequency estimates are generally easier to predict and external ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (information can be used to supplement internal data in making severity estimates.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (Personal ) Tj ET Q q 0 0 0 rg BT 69.93 635.10 Td (Auto Liability) Tj ET Q q 0 0 0 rg BT 124.65 635.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.15 635.10 Td ( For auto liability) Tj ET Q q 0 0 0 rg BT 196.22 635.10 Td (, and bodily injury in particular) Tj ET Q q 0 0 0 rg BT 320.79 635.10 Td (, the Company performs a greater number of techniques than it ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (does for property and auto physical damage. In addition, because the paid development technique is af) Tj ET Q q 0 0 0 rg BT 440.90 623.10 Td (fected by changes in claim closure ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (patterns and the reported development method is af) Tj ET Q q 0 0 0 rg BT 236.53 611.10 Td (fected by changes in case reserving practices, the Company uses Berquist-Sherman ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (techniques which adjust these patterns to reflect current settlement rates and case reserving techniques. ) Tj ET Q q 0 0 0 rg BT 445.33 599.10 Td (The Company generally uses the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (reported development method for older accident years as a higher percentage of ultimate losses are reflected in reported losses than in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (cumulative paid losses and the frequency/severity and Berquist-Sherman methods for more recent accident years. Recent periods are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (influenced by changes in case reserve practices and changing disposal rates; the frequency/severity techniques are not af) Tj ET Q q 0 0 0 rg BT 512.78 563.10 Td (fected as much ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (by these changes and the Berquist-Sherman techniques specifically adjust for these changes.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (Auto Liability for Commer) Tj ET Q q 0 0 0 rg BT 137.52 533.10 Td (cial Lines and Short-T) Tj ET Q q 0 0 0 rg BT 226.33 533.10 Td (ailed General Liability) Tj ET Q q 0 0 0 rg BT 317.43 533.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 319.93 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 322.25 533.10 Td (The Company performs a variety of techniques, including the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (paid and reported development methods and frequency / severity techniques. For older) Tj ET Q q 0 0 0 rg BT 377.66 521.10 Td (, more mature accident years, the Company finds ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (that reported development techniques are best. For more recent accident years, the Company typically prefers frequency / severity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (techniques that make separate assumptions about loss activity above and below a selected capping level.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 479.10 Td (Long-T) Tj ET Q q 0 0 0 rg BT 60.04 479.10 Td (ailed General Liability) Tj ET Q q 0 0 0 rg BT 151.14 479.10 Td (, Fidelity and Sur) Tj ET Q q 0 0 0 rg BT 220.76 479.10 Td (ety and Lar) Tj ET Q q 0 0 0 rg BT 266.50 479.10 Td (ge Deductible W) Tj ET Q q 0 0 0 rg BT 332.22 479.10 Td (orkers) Tj ET Q q 0 0 0 rg BT 359.99 479.10 Td ( Compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.27 479.10 Td (. For these long-tailed lines of business, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.10 Td (the Company generally relies on the expected loss ratio and reported development techniques. ) Tj ET Q q 0 0 0 rg BT 410.08 467.10 Td (The Company generally weights these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.10 Td (techniques together) Tj ET Q q 0 0 0 rg BT 109.13 455.10 Td (, relying more heavily on the expected loss ratio method at early ages of development and more on the reported ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.10 Td (development method as an accident year matures.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (W) Tj ET Q q 0 0 0 rg BT 38.91 425.10 Td (orkers) Tj ET Q q 0 0 0 rg BT 66.69 425.10 Td ( Compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.96 425.10 Td (. ) Tj ET Q q 0 0 0 rg BT 131.78 425.10 Td (W) Tj ET Q q 0 0 0 rg BT 140.42 425.10 Td (orkers) Tj ET Q q 0 0 0 rg BT 168.00 425.10 Td ( compensation is the Company) Tj ET Q q 0 0 0 rg BT 294.09 425.10 Td (s single lar) Tj ET Q q 0 0 0 rg BT 337.24 425.10 Td (gest reserve line of business so a wide range of methods are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (reviewed in the reserve analysis. Methods performed include paid and reported development, variations on expected loss ratio methods, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (and an in-depth analysis on the lar) Tj ET Q q 0 0 0 rg BT 168.50 401.10 Td (gest states. Historically) Tj ET Q q 0 0 0 rg BT 260.89 401.10 Td (, paid development patterns in the Company) Tj ET Q q 0 0 0 rg BT 440.57 401.10 Td (s workers) Tj ET Q q 0 0 0 rg BT 481.76 401.10 Td ( compensation business ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.10 Td (have been stable, so paid techniques are preferred. ) Tj ET Q q 0 0 0 rg BT 234.74 389.10 Td (Although paid techniques may be less predictive of the ultimate liability when a low ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.10 Td (percentage of ultimate losses are paid as in early periods of development, recent changes in the frequency of workers) Tj ET Q q 0 0 0 rg BT 501.96 377.10 Td ( compensation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.10 Td (claims have caused the Company to place greater reliance on paid methods with continued consideration of the state-by-state analysis ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (and the expected loss ratio approach.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 335.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 41.13 335.10 Td (ofessional Liability) Tj ET Q q 0 0 0 rg BT 117.53 335.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.03 335.10 Td ( Reported and paid loss developments patterns for this line tend to be volatile. ) Tj ET Q q 0 0 0 rg BT 433.94 335.10 Td (Therefore, the Company typically ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.10 Td (relies on frequency and severity techniques.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 305.10 Td (Assumed Reinsurance and ) Tj ET Q q 0 0 0 rg BT 139.36 305.10 Td (All Other) Tj ET Q q 0 0 0 rg BT 175.74 305.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.24 305.10 Td ( For these lines, the Company tends to rely on the reported development techniques. In assumed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.10 Td (reinsurance, assumptions are influenced by information gained from claim and underwriting audits.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (Allocated Loss ) Tj ET Q q 0 0 0 rg BT 92.98 275.10 Td (Adjustment Expenses \(ALAE\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.23 275.10 Td ( For some lines of business \(e.g., professional liability and assumed reinsurance\), ) Tj ET Q q 0 0 0 rg BT 539.83 275.10 Td (ALAE ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.10 Td (and losses are analyzed together) Tj ET Q q 0 0 0 rg BT 159.78 263.10 Td (. For most lines of business, however) Tj ET Q q 0 0 0 rg BT 308.26 263.10 Td (, ) Tj ET Q q 0 0 0 rg BT 312.71 263.10 Td (ALAE is analyzed separately) Tj ET Q q 0 0 0 rg BT 428.95 263.10 Td (, using paid development techniques ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.10 Td (and an analysis of the relationship between ) Tj ET Q q 0 0 0 rg BT 205.62 251.10 Td (ALAE and loss payments.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 233.10 Td (Unallocated Loss ) Tj ET Q q 0 0 0 rg BT 104.10 233.10 Td (Adjustment Expense \(ULAE\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.57 233.10 Td ( ULAE is analyzed separately from loss and ) Tj ET Q q 0 0 0 rg BT 399.85 233.10 Td (ALAE. For most lines of business, incurred ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.10 Td (ULAE costs to be paid in the future are projected based on an expected cost per claim year and the anticipated claim closure pattern and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.10 Td (the ratio of paid ULAE to paid loss.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.10 Td (The final step in the reserve review process involves a comprehensive review by senior reserving actuaries who apply their judgment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.10 Td (and, in concert with senior management, determine the appropriate level of reserves based on the information that has been accumulated. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.10 Td (Numerous factors are considered in this process including, but not limited to, the assessed reliability of key loss trends and assumptions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.10 Td (that may be significantly influencing the current actuarial indications, pertinent trends observed over the recent past, the level of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.10 Td (volatility within a particular line of business, and the improvement or deterioration of actuarial indications in the current period as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.10 Td (compared to the prior periods. ) Tj ET Q q 0 0 0 rg BT 154.62 131.10 Td (T) Tj ET Q q 0 0 0 rg BT 160.03 131.10 Td (otal recorded net reserves, excluding asbestos and environmental, were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.86 131.10 Td (2.6%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.69 131.10 Td ( higher than the actuarial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 119.10 Td (indication of the reserves as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.46 119.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.04 119.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.10 Td ( For a discussion of changes to reserve estimates recorded in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.15 101.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.15 101.10 Td (, see Reserve Roll-forwards and Development included below in this ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.10 Td (section.) Tj ET Q endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (46) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Curr) Tj ET Q q 0 0 0 rg BT 50.58 713.10 Td (ent tr) Tj ET Q q 0 0 0 rg BT 71.60 713.10 Td (ends contributing to r) Tj ET Q q 0 0 0 rg BT 158.17 713.10 Td (eserve uncertainty) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The Hartford is a multi-line company in the property and casualty insurance business. ) Tj ET Q q 0 0 0 rg BT 376.78 695.10 Td (The Hartford is therefore subject to reserve ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (uncertainty stemming from a number of conditions, including but not limited to those noted above, any of which could be material at any ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (point in time. Certain issues may become more or less important over time as conditions change. ) Tj ET Q q 0 0 0 rg BT 420.30 671.10 Td (As various market conditions develop, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (management must assess whether those conditions constitute a long-term trend that should result in a reserving action \(i.e., increasing or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (decreasing the reserve\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (W) Tj ET Q q 0 0 0 rg BT 40.54 629.10 Td (ithin Property & Casualty Commercial and Property & Casualty Other Operations, the Company has exposure to claims asserted for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (bodily injury as a result of long-term or continuous exposure to harmful products or substances. Examples include, but are not limited to, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (pharmaceutical products, silica and lead paint. ) Tj ET Q q 0 0 0 rg BT 219.02 605.10 Td (The Company also has exposure to claims from construction defects, where property ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (damage or bodily injury from negligent construction is alleged. In addition, the Company has exposure to claims asserted against ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.10 Td (religious institutions and other or) Tj ET Q q 0 0 0 rg BT 164.08 581.10 Td (ganizations relating to molestation or abuse. Such exposures may involve potentially long latency ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (periods and may implicate coverage in multiple policy periods. ) Tj ET Q q 0 0 0 rg BT 286.25 569.10 Td (These factors make reserves for such claims more uncertain than other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (bodily injury or property damage claims. ) Tj ET Q q 0 0 0 rg BT 197.67 557.10 Td (W) Tj ET Q q 0 0 0 rg BT 206.71 557.10 Td (ith regard to these exposures, the Company is monitoring trends in litigation, the external ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (environment, the similarities to other mass torts and the potential impact on the Company) Tj ET Q q 0 0 0 rg BT 392.54 545.10 Td (s reserves.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (In Consumer Markets, reserving estimates are generally less variable than for the Company) Tj ET Q q 0 0 0 rg BT 400.00 527.10 Td (s other property and casualty segments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.10 Td (because of the coverages having relatively shorter periods of loss emer) Tj ET Q q 0 0 0 rg BT 314.55 515.10 Td (gence. Estimates, however) Tj ET Q q 0 0 0 rg BT 420.77 515.10 Td (, can still vary due to a number of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.10 Td (factors, including interpretations of frequency and severity trends and their impact on recorded reserve levels. Severity trends can be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.10 Td (impacted by changes in internal claim handling and case reserving practices in addition to changes in the external environment. ) Tj ET Q q 0 0 0 rg BT 543.37 491.10 Td (These ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.10 Td (changes in claim practices increase the uncertainty in the interpretation of case reserve data, which increases the uncertainty in recorded ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.10 Td (reserve levels. In addition, the introduction of new products has led to a dif) Tj ET Q q 0 0 0 rg BT 331.51 467.10 Td (ferent mix of business by type of insured than the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.10 Td (experienced in the past. Such changes in mix increase the uncertainty of the reserve projections, since historical data and reporting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.10 Td (patterns may not be applicable to the new business.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (In standard commercial lines, workers) Tj ET Q q 0 0 0 rg BT 187.09 425.10 Td ( compensation is the Company) Tj ET Q q 0 0 0 rg BT 313.18 425.10 Td (s single biggest line of business and the line of business with the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (longest pattern of loss emer) Tj ET Q q 0 0 0 rg BT 141.85 413.10 Td (gence. Medical costs make up more than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.34 413.10 Td (50%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.67 413.10 Td ( of workers) Tj ET Q q 0 0 0 rg BT 373.80 413.10 Td ( compensation payments. ) Tj ET Q q 0 0 0 rg BT 477.12 413.10 Td (As such, reserve ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (estimates for workers) Tj ET Q q 0 0 0 rg BT 120.17 401.10 Td ( compensation are particularly sensitive to changes in medical inflation, the changing use of medical care ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.10 Td (procedures and changes in state legislative and regulatory environments. In addition, a changing economic environment can af) Tj ET Q q 0 0 0 rg BT 537.26 389.10 Td (fect the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.10 Td (ability of an injured worker to return to work and the length of time a worker receives disability benefits. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.10 Td (In specialty lines, many lines of insurance are long-tail, including lar) Tj ET Q q 0 0 0 rg BT 315.11 359.10 Td (ge deductible workers) Tj ET Q q 0 0 0 rg BT 406.00 359.10 Td ( compensation insurance; as such, reserve ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.10 Td (estimates for these lines are more dif) Tj ET Q q 0 0 0 rg BT 178.49 347.10 Td (ficult to determine than reserve estimates for shorter) Tj ET Q q 0 0 0 rg BT 387.37 347.10 Td (-tail lines of insurance. Estimating required ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.10 Td (reserve levels for lar) Tj ET Q q 0 0 0 rg BT 113.22 335.10 Td (ge deductible workers) Tj ET Q q 0 0 0 rg BT 204.11 335.10 Td ( compensation insurance is further complicated by the uncertainty of whether losses that are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.10 Td (attributable to the deductible amount will be paid by the insured; if such losses are not paid by the insured due to financial dif) Tj ET Q q 0 0 0 rg BT 533.14 323.10 Td (ficulties, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (the Company would be contractually liable. ) Tj ET Q q 0 0 0 rg BT 208.40 311.10 Td (Auto severity trends can be impacted by changes in internal claim handling and case ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.10 Td (reserving practices in addition to changes in the external environment. ) Tj ET Q q 0 0 0 rg BT 314.83 299.10 Td (These changes in claim practices increase the uncertainty in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.10 Td (interpretation of case reserve data, which increases the uncertainty in recorded reserve levels. ) Tj ET Q q 0 0 0 rg BT 406.60 287.10 Td (Another example of reserve variability ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (relates to reserves for directors) Tj ET Q q 0 0 0 rg BT 157.36 275.10 Td ( and of) Tj ET Q q 0 0 0 rg BT 184.95 275.10 Td (ficers) Tj ET Q q 0 0 0 rg BT 209.75 275.10 Td ( insurance. ) Tj ET Q q 0 0 0 rg BT 255.38 275.10 Td (There is potential volatility in the required level of reserves due to the continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.10 Td (uncertainty regarding the number and severity of class action suits, including uncertainty regarding the Company) Tj ET Q q 0 0 0 rg BT 486.65 263.10 Td (s exposure to losses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.10 Td (arising from the collapse of the sub-prime mortgage market. ) Tj ET Q q 0 0 0 rg BT 274.21 251.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 324.11 251.10 Td (, the Company) Tj ET Q q 0 0 0 rg BT 385.49 251.10 Td (s exposure to losses under directors) Tj ET Q q 0 0 0 rg BT 529.99 251.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.10 Td (of) Tj ET Q q 0 0 0 rg BT 39.65 239.10 Td (ficers) Tj ET Q q 0 0 0 rg BT 64.44 239.10 Td ( insurance policies is primarily in excess layers, making estimates of loss more complex. ) Tj ET Q q 0 0 0 rg BT 421.40 239.10 Td (The financial market turmoil that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.10 Td (began in 2008 and 2009 increased the number of shareholder class action lawsuits against our insureds or their directors and of) Tj ET Q q 0 0 0 rg BT 538.95 227.10 Td (ficers and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.10 Td (this trend could continue for some period of time.) Tj ET Q endstream endobj 95 0 obj <> endobj 96 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (47) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Impact of changes in key assumptions on r) Tj ET Q q 0 0 0 rg BT 201.38 713.10 Td (eserve volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (As ) Tj ET Q q 0 0 0 rg BT 45.84 695.10 Td (stated ) Tj ET Q q 0 0 0 rg BT 72.39 695.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 101.99 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.43 695.10 Td (Company) Tj ET Q q 0 0 0 rg BT 159.09 695.10 Td (s ) Tj ET Q q 0 0 0 rg BT 166.21 695.10 Td (practice ) Tj ET Q q 0 0 0 rg BT 201.07 695.10 Td (is ) Tj ET Q q 0 0 0 rg BT 210.97 695.10 Td (to ) Tj ET Q q 0 0 0 rg BT 221.97 695.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 258.52 695.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 294.50 695.10 Td (using ) Tj ET Q q 0 0 0 rg BT 319.39 695.10 Td (a ) Tj ET Q q 0 0 0 rg BT 327.05 695.10 Td (variety ) Tj ET Q q 0 0 0 rg BT 358.04 695.10 Td (of ) Tj ET Q q 0 0 0 rg BT 369.60 695.10 Td (methods, ) Tj ET Q q 0 0 0 rg BT 409.21 695.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 461.88 695.10 Td (and ) Tj ET Q q 0 0 0 rg BT 479.54 695.10 Td (data ) Tj ET Q q 0 0 0 rg BT 499.42 695.10 Td (elements. ) Tj ET Q q 0 0 0 rg BT 540.45 695.10 Td (W) Tj ET Q q 0 0 0 rg BT 549.49 695.10 Td (ithin ) Tj ET Q q 0 0 0 rg BT 571.05 695.10 Td (its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 63.99 683.10 Td (estimation ) Tj ET Q q 0 0 0 rg BT 109.28 683.10 Td (process ) Tj ET Q q 0 0 0 rg BT 142.89 683.10 Td (for ) Tj ET Q q 0 0 0 rg BT 158.18 683.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 194.56 683.10 Td (other ) Tj ET Q q 0 0 0 rg BT 218.74 683.10 Td (than ) Tj ET Q q 0 0 0 rg BT 239.58 683.10 Td (asbestos ) Tj ET Q q 0 0 0 rg BT 276.53 683.10 Td (and ) Tj ET Q q 0 0 0 rg BT 294.60 683.10 Td (environmental, ) Tj ET Q q 0 0 0 rg BT 358.48 683.10 Td (the ) Tj ET Q q 0 0 0 rg BT 374.32 683.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 416.84 683.10 Td (does ) Tj ET Q q 0 0 0 rg BT 438.79 683.10 Td (not ) Tj ET Q q 0 0 0 rg BT 455.20 683.10 Td (consistently ) Tj ET Q q 0 0 0 rg BT 506.60 683.10 Td (use ) Tj ET Q q 0 0 0 rg BT 523.55 683.10 Td (statistical ) Tj ET Q q 0 0 0 rg BT 564.94 683.10 Td (loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (distributions ) Tj ET Q q 0 0 0 rg BT 84.00 671.10 Td (or ) Tj ET Q q 0 0 0 rg BT 94.83 671.10 Td (confidence ) Tj ET Q q 0 0 0 rg BT 141.20 671.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 167.02 671.10 Td (around ) Tj ET Q q 0 0 0 rg BT 197.29 671.10 Td (its ) Tj ET Q q 0 0 0 rg BT 209.24 671.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 240.61 671.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 276.43 671.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 295.87 671.10 Td (as ) Tj ET Q q 0 0 0 rg BT 306.70 671.10 Td (a ) Tj ET Q q 0 0 0 rg BT 313.63 671.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 340.85 671.10 Td (does ) Tj ET Q q 0 0 0 rg BT 361.68 671.10 Td (not ) Tj ET Q q 0 0 0 rg BT 376.96 671.10 Td (disclose ) Tj ET Q q 0 0 0 rg BT 411.68 671.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 443.04 671.10 Td (ranges.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.24 653.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 80.29 653.10 Td (estimation ) Tj ET Q q 0 0 0 rg BT 124.14 653.10 Td (process ) Tj ET Q q 0 0 0 rg BT 156.32 653.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 191.83 653.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 243.47 653.10 Td (about ) Tj ET Q q 0 0 0 rg BT 267.88 653.10 Td (a ) Tj ET Q q 0 0 0 rg BT 274.50 653.10 Td (number ) Tj ET Q q 0 0 0 rg BT 307.24 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 317.76 653.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 347.16 653.10 Td (in ) Tj ET Q q 0 0 0 rg BT 357.12 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 371.53 653.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 404.26 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 420.89 653.10 Td (external ) Tj ET Q q 0 0 0 rg BT 455.28 653.10 Td (environment. ) Tj ET Q q 0 0 0 rg BT 510.03 653.10 Td (Across ) Tj ET Q q 0 0 0 rg BT 539.99 653.10 Td (most ) Tj ET Q q 0 0 0 rg BT 561.63 653.10 Td (lines ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 42.70 641.10 Td (business, ) Tj ET Q q 0 0 0 rg BT 81.97 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 97.06 641.10 Td (most ) Tj ET Q q 0 0 0 rg BT 119.38 641.10 Td (important ) Tj ET Q q 0 0 0 rg BT 161.14 641.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 213.46 641.10 Td (are ) Tj ET Q q 0 0 0 rg BT 228.54 641.10 Td (future ) Tj ET Q q 0 0 0 rg BT 255.29 641.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 273.72 641.10 Td (development ) Tj ET Q q 0 0 0 rg BT 328.25 641.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 358.33 641.10 Td (applied ) Tj ET Q q 0 0 0 rg BT 390.64 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 401.29 641.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 421.38 641.10 Td (or ) Tj ET Q q 0 0 0 rg BT 432.58 641.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 468.77 641.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 495.54 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 506.19 641.10 Td (date. ) Tj ET Q q 0 0 0 rg BT 528.22 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 530.88 641.10 Td (The ) Tj ET Q q 0 0 0 rg BT 549.30 641.10 Td (trend ) Tj ET Q q 0 0 0 rg BT 572.72 641.10 Td (in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 49.56 629.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 72.06 629.10 Td (is ) Tj ET Q q 0 0 0 rg BT 81.23 629.10 Td (also ) Tj ET Q q 0 0 0 rg BT 99.84 629.10 Td (a ) Tj ET Q q 0 0 0 rg BT 106.78 629.10 Td (key ) Tj ET Q q 0 0 0 rg BT 123.72 629.10 Td (assumption, ) Tj ET Q q 0 0 0 rg BT 174.27 629.10 Td (particularly ) Tj ET Q q 0 0 0 rg BT 222.86 629.10 Td (in ) Tj ET Q q 0 0 0 rg BT 233.14 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 247.86 629.10 Td (most ) Tj ET Q q 0 0 0 rg BT 269.81 629.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 296.73 629.10 Td (accident ) Tj ET Q q 0 0 0 rg BT 332.54 629.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 358.64 629.10 Td (where ) Tj ET Q q 0 0 0 rg BT 385.57 629.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 403.63 629.10 Td (development ) Tj ET Q q 0 0 0 rg BT 457.78 629.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 487.49 629.10 Td (are ) Tj ET Q q 0 0 0 rg BT 502.19 629.10 Td (less ) Tj ET Q q 0 0 0 rg BT 519.69 629.10 Td (credible.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.87 611.10 Td (following ) Tj ET Q q 0 0 0 rg BT 91.57 611.10 Td (discussion ) Tj ET Q q 0 0 0 rg BT 136.06 611.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 172.20 611.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 215.57 611.10 Td (of ) Tj ET Q q 0 0 0 rg BT 226.72 611.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 262.32 611.10 Td (variation ) Tj ET Q q 0 0 0 rg BT 300.68 611.10 Td (from ) Tj ET Q q 0 0 0 rg BT 322.93 611.10 Td (current ) Tj ET Q q 0 0 0 rg BT 354.07 611.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 394.10 611.10 Td (of ) Tj ET Q q 0 0 0 rg BT 405.25 611.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 423.63 611.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 459.21 611.10 Td (due ) Tj ET Q q 0 0 0 rg BT 476.46 611.10 Td (to ) Tj ET Q q 0 0 0 rg BT 487.06 611.10 Td (a ) Tj ET Q q 0 0 0 rg BT 494.32 611.10 Td (change ) Tj ET Q q 0 0 0 rg BT 525.45 611.10 Td (in ) Tj ET Q q 0 0 0 rg BT 536.05 611.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 566.07 611.10 Td (key ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (indicators ) Tj ET Q q 0 0 0 rg BT 74.07 599.10 Td (of ) Tj ET Q q 0 0 0 rg BT 85.54 599.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 123.67 599.10 Td (losses. ) Tj ET Q q 0 0 0 rg BT 153.19 599.10 Td ( ) Tj ET Q q 0 0 0 rg BT 156.33 599.10 Td (Each ) Tj ET Q q 0 0 0 rg BT 179.45 599.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.92 599.10 Td (the ) Tj ET Q q 0 0 0 rg BT 206.28 599.10 Td (impacts ) Tj ET Q q 0 0 0 rg BT 240.52 599.10 Td (described ) Tj ET Q q 0 0 0 rg BT 281.97 599.10 Td (below ) Tj ET Q q 0 0 0 rg BT 309.54 599.10 Td (is ) Tj ET Q q 0 0 0 rg BT 319.35 599.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 360.81 599.10 Td (individually) Tj ET Q q 0 0 0 rg BT 408.49 599.10 Td (, ) Tj ET Q q 0 0 0 rg BT 414.13 599.10 Td (without ) Tj ET Q q 0 0 0 rg BT 447.82 599.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 504.83 599.10 Td (for ) Tj ET Q q 0 0 0 rg BT 519.63 599.10 Td (any ) Tj ET Q q 0 0 0 rg BT 537.20 599.10 Td (correlation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (among ) Tj ET Q q 0 0 0 rg BT 61.41 587.10 Td (key ) Tj ET Q q 0 0 0 rg BT 78.55 587.10 Td (indicators ) Tj ET Q q 0 0 0 rg BT 120.68 587.10 Td (or ) Tj ET Q q 0 0 0 rg BT 131.71 587.10 Td (among ) Tj ET Q q 0 0 0 rg BT 161.62 587.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 183.21 587.10 Td (of ) Tj ET Q q 0 0 0 rg BT 194.24 587.10 Td (business. ) Tj ET Q q 0 0 0 rg BT 233.33 587.10 Td ( ) Tj ET Q q 0 0 0 rg BT 235.83 587.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 280.44 587.10 Td (it ) Tj ET Q q 0 0 0 rg BT 288.70 587.10 Td (would ) Tj ET Q q 0 0 0 rg BT 316.39 587.10 Td (be ) Tj ET Q q 0 0 0 rg BT 328.53 587.10 Td (inappropriate ) Tj ET Q q 0 0 0 rg BT 384.54 587.10 Td (to ) Tj ET Q q 0 0 0 rg BT 395.01 587.10 Td (take ) Tj ET Q q 0 0 0 rg BT 414.37 587.10 Td (each ) Tj ET Q q 0 0 0 rg BT 435.38 587.10 Td (of ) Tj ET Q q 0 0 0 rg BT 446.41 587.10 Td (the ) Tj ET Q q 0 0 0 rg BT 461.32 587.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 497.91 587.10 Td (described ) Tj ET Q q 0 0 0 rg BT 538.92 587.10 Td (below ) Tj ET Q q 0 0 0 rg BT 566.06 587.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (add ) Tj ET Q q 0 0 0 rg BT 47.89 575.10 Td (them ) Tj ET Q q 0 0 0 rg BT 69.83 575.10 Td (together ) Tj ET Q q 0 0 0 rg BT 104.55 575.10 Td (in ) Tj ET Q q 0 0 0 rg BT 114.28 575.10 Td (an ) Tj ET Q q 0 0 0 rg BT 125.67 575.10 Td (attempt ) Tj ET Q q 0 0 0 rg BT 157.61 575.10 Td (to ) Tj ET Q q 0 0 0 rg BT 167.34 575.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 202.61 575.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 240.67 575.10 Td (for ) Tj ET Q q 0 0 0 rg BT 254.28 575.10 Td (the ) Tj ET Q q 0 0 0 rg BT 268.45 575.10 Td (Company) Tj ET Q q 0 0 0 rg BT 310.11 575.10 Td (s ) Tj ET Q q 0 0 0 rg BT 315.95 575.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 350.66 575.10 Td (in ) Tj ET Q q 0 0 0 rg BT 360.39 575.10 Td (total. ) Tj ET Q q 0 0 0 rg BT 382.47 575.10 Td (The ) Tj ET Q q 0 0 0 rg BT 399.97 575.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 440.24 575.10 Td (variation ) Tj ET Q q 0 0 0 rg BT 477.74 575.10 Td (in ) Tj ET Q q 0 0 0 rg BT 487.46 575.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 522.17 575.10 Td (due ) Tj ET Q q 0 0 0 rg BT 538.56 575.10 Td (to ) Tj ET Q q 0 0 0 rg BT 548.29 575.10 Td (changes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (in ) Tj ET Q q 0 0 0 rg BT 41.80 563.10 Td (key ) Tj ET Q q 0 0 0 rg BT 58.77 563.10 Td (indicators ) Tj ET Q q 0 0 0 rg BT 100.73 563.10 Td (is ) Tj ET Q q 0 0 0 rg BT 109.92 563.10 Td (a ) Tj ET Q q 0 0 0 rg BT 116.89 563.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 162.17 563.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 198.01 563.10 Td (of ) Tj ET Q q 0 0 0 rg BT 208.87 563.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 244.17 563.10 Td (variation ) Tj ET Q q 0 0 0 rg BT 282.24 563.10 Td (that ) Tj ET Q q 0 0 0 rg BT 299.76 563.10 Td (may ) Tj ET Q q 0 0 0 rg BT 319.51 563.10 Td (occur ) Tj ET Q q 0 0 0 rg BT 344.24 563.10 Td (in ) Tj ET Q q 0 0 0 rg BT 354.54 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 369.29 563.10 Td (future, ) Tj ET Q q 0 0 0 rg BT 398.19 563.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 423.49 563.10 Td (over ) Tj ET Q q 0 0 0 rg BT 443.78 563.10 Td (a ) Tj ET Q q 0 0 0 rg BT 450.75 563.10 Td (period ) Tj ET Q q 0 0 0 rg BT 478.82 563.10 Td (of ) Tj ET Q q 0 0 0 rg BT 489.68 563.10 Td (several ) Tj ET Q q 0 0 0 rg BT 520.52 563.10 Td (calendar ) Tj ET Q q 0 0 0 rg BT 556.90 563.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 583.00 563.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (It ) Tj ET Q q 0 0 0 rg BT 39.89 551.10 Td (is ) Tj ET Q q 0 0 0 rg BT 48.84 551.10 Td (important ) Tj ET Q q 0 0 0 rg BT 90.00 551.10 Td (to ) Tj ET Q q 0 0 0 rg BT 100.06 551.10 Td (note ) Tj ET Q q 0 0 0 rg BT 119.56 551.10 Td (that ) Tj ET Q q 0 0 0 rg BT 136.83 551.10 Td (the ) Tj ET Q q 0 0 0 rg BT 151.33 551.10 Td (variation ) Tj ET Q q 0 0 0 rg BT 189.15 551.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 229.76 551.10 Td (is ) Tj ET Q q 0 0 0 rg BT 238.71 551.10 Td (not ) Tj ET Q q 0 0 0 rg BT 253.77 551.10 Td (meant ) Tj ET Q q 0 0 0 rg BT 280.48 551.10 Td (to ) Tj ET Q q 0 0 0 rg BT 290.54 551.10 Td (be ) Tj ET Q q 0 0 0 rg BT 302.26 551.10 Td (a ) Tj ET Q q 0 0 0 rg BT 308.98 551.10 Td (worst-case ) Tj ET Q q 0 0 0 rg BT 354.02 551.10 Td (scenario, ) Tj ET Q q 0 0 0 rg BT 392.12 551.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.83 551.10 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 449.70 551.10 Td (it ) Tj ET Q q 0 0 0 rg BT 457.54 551.10 Td (is ) Tj ET Q q 0 0 0 rg BT 466.49 551.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 501.54 551.10 Td (that ) Tj ET Q q 0 0 0 rg BT 518.82 551.10 Td (future ) Tj ET Q q 0 0 0 rg BT 544.98 551.10 Td (variation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (may ) Tj ET Q q 0 0 0 rg BT 51.22 539.10 Td (be ) Tj ET Q q 0 0 0 rg BT 63.16 539.10 Td (more ) Tj ET Q q 0 0 0 rg BT 86.20 539.10 Td (than ) Tj ET Q q 0 0 0 rg BT 105.92 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 120.64 539.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 157.02 539.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 197.85 539.10 Td (below) Tj ET Q q 0 0 0 rg BT 221.64 539.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (Recorded ) Tj ET Q q 0 0 0 rg BT 73.03 521.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 109.01 521.10 Td (for ) Tj ET Q q 0 0 0 rg BT 123.89 521.10 Td (auto ) Tj ET Q q 0 0 0 rg BT 144.32 521.10 Td (liability) Tj ET Q q 0 0 0 rg BT 174.78 521.10 Td (, ) Tj ET Q q 0 0 0 rg BT 180.50 521.10 Td (net ) Tj ET Q q 0 0 0 rg BT 195.93 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 207.48 521.10 Td (reinsurance, ) Tj ET Q q 0 0 0 rg BT 259.28 521.10 Td (are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.71 521.10 Td ($2.1 ) Tj ET Q q 0 0 0 rg BT 295.43 521.10 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.54 521.10 Td ( ) Tj ET Q q 0 0 0 rg BT 324.76 521.10 Td (across ) Tj ET Q q 0 0 0 rg BT 352.96 521.10 Td (all ) Tj ET Q q 0 0 0 rg BT 366.18 521.10 Td (lines, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.78 521.10 Td ($1.4 ) Tj ET Q q 0 0 0 rg BT 411.50 521.10 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.61 521.10 Td ( ) Tj ET Q q 0 0 0 rg BT 440.83 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 452.38 521.10 Td (which ) Tj ET Q q 0 0 0 rg BT 480.04 521.10 Td (is ) Tj ET Q q 0 0 0 rg BT 489.92 521.10 Td (in ) Tj ET Q q 0 0 0 rg BT 500.92 521.10 Td (Consumer ) Tj ET Q q 0 0 0 rg BT 545.25 521.10 Td (Markets. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (Personal ) Tj ET Q q 0 0 0 rg BT 68.31 509.10 Td (auto ) Tj ET Q q 0 0 0 rg BT 87.89 509.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 121.37 509.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 156.50 509.10 Td (are ) Tj ET Q q 0 0 0 rg BT 171.07 509.10 Td (shorter) Tj ET Q q 0 0 0 rg BT 198.64 509.10 Td (-tailed ) Tj ET Q q 0 0 0 rg BT 226.55 509.10 Td (than ) Tj ET Q q 0 0 0 rg BT 246.13 509.10 Td (other ) Tj ET Q q 0 0 0 rg BT 269.05 509.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 290.30 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 301.00 509.10 Td (business ) Tj ET Q q 0 0 0 rg BT 337.26 509.10 Td (\(such ) Tj ET Q q 0 0 0 rg BT 361.29 509.10 Td (as ) Tj ET Q q 0 0 0 rg BT 371.99 509.10 Td (workers) Tj ET Q q 0 0 0 rg BT 406.79 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 409.16 509.10 Td (compensation\) ) Tj ET Q q 0 0 0 rg BT 470.40 509.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 489.70 509.10 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 530.66 509.10 Td (less ) Tj ET Q q 0 0 0 rg BT 548.02 509.10 Td (volatile. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (However) Tj ET Q q 0 0 0 rg BT 67.75 497.10 Td (, ) Tj ET Q q 0 0 0 rg BT 72.97 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 87.91 497.10 Td (size ) Tj ET Q q 0 0 0 rg BT 106.18 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 117.23 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.17 497.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 163.75 497.10 Td (base ) Tj ET Q q 0 0 0 rg BT 184.24 497.10 Td (means ) Tj ET Q q 0 0 0 rg BT 212.51 497.10 Td (that ) Tj ET Q q 0 0 0 rg BT 230.23 497.10 Td (future ) Tj ET Q q 0 0 0 rg BT 256.83 497.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 291.76 497.10 Td (in ) Tj ET Q q 0 0 0 rg BT 302.25 497.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 342.19 497.10 Td (could ) Tj ET Q q 0 0 0 rg BT 367.13 497.10 Td (be ) Tj ET Q q 0 0 0 rg BT 379.29 497.10 Td (material ) Tj ET Q q 0 0 0 rg BT 414.77 497.10 Td (to ) Tj ET Q q 0 0 0 rg BT 425.27 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 440.20 497.10 Td (Company) Tj ET Q q 0 0 0 rg BT 481.87 497.10 Td (s ) Tj ET Q q 0 0 0 rg BT 488.48 497.10 Td (results ) Tj ET Q q 0 0 0 rg BT 517.31 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 528.36 497.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 572.74 497.10 Td (in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (any ) Tj ET Q q 0 0 0 rg BT 47.36 485.10 Td (given ) Tj ET Q q 0 0 0 rg BT 71.00 485.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 100.36 485.10 Td (The ) Tj ET Q q 0 0 0 rg BT 117.33 485.10 Td (key ) Tj ET Q q 0 0 0 rg BT 133.18 485.10 Td (indicator ) Tj ET Q q 0 0 0 rg BT 170.15 485.10 Td (for ) Tj ET Q q 0 0 0 rg BT 183.23 485.10 Td (Consumer ) Tj ET Q q 0 0 0 rg BT 225.75 485.10 Td (Markets ) Tj ET Q q 0 0 0 rg BT 259.94 485.10 Td (auto ) Tj ET Q q 0 0 0 rg BT 278.58 485.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 311.11 485.10 Td (is ) Tj ET Q q 0 0 0 rg BT 319.20 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 332.83 485.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 360.91 485.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 377.89 485.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 395.42 485.10 Td (trend, ) Tj ET Q q 0 0 0 rg BT 419.89 485.10 Td (particularly ) Tj ET Q q 0 0 0 rg BT 467.40 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 481.03 485.10 Td (severity ) Tj ET Q q 0 0 0 rg BT 514.11 485.10 Td (trend ) Tj ET Q q 0 0 0 rg BT 536.07 485.10 Td (component ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 42.25 473.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 60.23 473.10 Td (costs. ) Tj ET Q q 0 0 0 rg BT 84.61 473.10 Td (A) Tj ET Q q 0 0 0 rg BT 91.28 473.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 93.70 473.10 Td (2.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 106.20 473.10 Td ( ) Tj ET Q q 0 0 0 rg BT 108.62 473.10 Td (point ) Tj ET Q q 0 0 0 rg BT 131.59 473.10 Td (change ) Tj ET Q q 0 0 0 rg BT 162.33 473.10 Td (in ) Tj ET Q q 0 0 0 rg BT 172.53 473.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 201.60 473.10 Td (severity ) Tj ET Q q 0 0 0 rg BT 235.67 473.10 Td (for ) Tj ET Q q 0 0 0 rg BT 249.75 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 264.39 473.10 Td (two ) Tj ET Q q 0 0 0 rg BT 281.81 473.10 Td (most ) Tj ET Q q 0 0 0 rg BT 303.67 473.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 330.51 473.10 Td (accident ) Tj ET Q q 0 0 0 rg BT 366.24 473.10 Td (years ) Tj ET Q q 0 0 0 rg BT 389.76 473.10 Td (would ) Tj ET Q q 0 0 0 rg BT 417.18 473.10 Td (change ) Tj ET Q q 0 0 0 rg BT 447.91 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 462.55 473.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 503.29 473.10 Td (net ) Tj ET Q q 0 0 0 rg BT 517.92 473.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 549.21 473.10 Td (need ) Tj ET Q q 0 0 0 rg BT 570.50 473.10 Td (by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td ($80) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 461.10 Td (, ) Tj ET Q q 0 0 0 rg BT 51.50 461.10 Td (in ) Tj ET Q q 0 0 0 rg BT 61.78 461.10 Td (either ) Tj ET Q q 0 0 0 rg BT 87.04 461.10 Td (direction. ) Tj ET Q q 0 0 0 rg BT 127.03 461.10 Td (A) Tj ET Q q 0 0 0 rg BT 133.70 461.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 136.20 461.10 Td (2.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.70 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 151.20 461.10 Td (point ) Tj ET Q q 0 0 0 rg BT 174.26 461.10 Td (change ) Tj ET Q q 0 0 0 rg BT 205.07 461.10 Td (in ) Tj ET Q q 0 0 0 rg BT 215.35 461.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 244.51 461.10 Td (severity ) Tj ET Q q 0 0 0 rg BT 278.66 461.10 Td (is ) Tj ET Q q 0 0 0 rg BT 287.83 461.10 Td (within ) Tj ET Q q 0 0 0 rg BT 315.89 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.61 461.10 Td (Company) Tj ET Q q 0 0 0 rg BT 372.27 461.10 Td (s ) Tj ET Q q 0 0 0 rg BT 378.66 461.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 418.38 461.10 Td (variation.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.10 Td (Recorded reserves for workers) Tj ET Q q 0 0 0 rg BT 156.53 443.10 Td ( compensation, net of reinsurance, are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.91 443.10 Td ($8.5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.03 443.10 Td (. Loss development patterns are a key indicator for this ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.10 Td (line of business, particularly for more mature accident years. Historically) Tj ET Q q 0 0 0 rg BT 323.25 431.10 Td (, loss development patterns have been impacted by) Tj ET Q q 0 0 0 rg BT 525.87 431.10 Td (, among ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.10 Td (other things, medical cost inflation and other changes in loss cost trends. ) Tj ET Q q 0 0 0 rg BT 324.03 419.10 Td (The Company has reviewed the historical variation in paid loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.10 Td (development patterns. If the paid loss development patterns change by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.58 407.10 Td (2%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.91 407.10 Td (, the estimated net reserve need would change by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.73 407.10 Td ($400) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.73 407.10 Td (, in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.10 Td (either direction. ) Tj ET Q q 0 0 0 rg BT 96.75 395.10 Td (A) Tj ET Q q 0 0 0 rg BT 103.42 395.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 105.92 395.10 Td (2%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 119.25 395.10 Td ( change in paid loss development patterns is within the Company) Tj ET Q q 0 0 0 rg BT 382.54 395.10 Td (s historical variation, as measured by the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (variation around the average development factors as reported in statutory accident year reports.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.10 Td (Recorded reserves for general liability) Tj ET Q q 0 0 0 rg BT 184.12 365.10 Td (, net of reinsurance, are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.46 365.10 Td ($2.5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.57 365.10 Td (. Loss development patterns are a key indicator for this line of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (business, particularly for more mature accident years. Historically) Tj ET Q q 0 0 0 rg BT 294.92 353.10 Td (, loss development patterns have been impacted by) Tj ET Q q 0 0 0 rg BT 497.54 353.10 Td (, among other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (things, emer) Tj ET Q q 0 0 0 rg BT 80.75 341.10 Td (gence of new types of claims \(e.g., construction defect claims\) or a shift in the mixture between smaller) Tj ET Q q 0 0 0 rg BT 494.65 341.10 Td (, more routine claims ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (and lar) Tj ET Q q 0 0 0 rg BT 58.80 329.10 Td (ger) Tj ET Q q 0 0 0 rg BT 71.17 329.10 Td (, more complex claims. ) Tj ET Q q 0 0 0 rg BT 167.08 329.10 Td (The Company has reviewed the historical variation in reported loss development patterns. If the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.10 Td (reported loss development patterns change by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.00 317.10 Td (8%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.33 317.10 Td (, the estimated net reserve need would change by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.14 317.10 Td ($200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.14 317.10 Td (, in either direction. ) Tj ET Q q 0 0 0 rg BT 529.67 317.10 Td (A) Tj ET Q q 0 0 0 rg BT 536.34 317.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 538.84 317.10 Td (8%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.17 317.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.10 Td (change in reported loss development patterns is within the Company) Tj ET Q q 0 0 0 rg BT 308.38 305.10 Td (s historical variation, as measured by the variation around the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.10 Td (average development factors as reported in statutory accident year reports.) Tj ET Q endstream endobj 97 0 obj <> endobj 98 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (48) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Reserving for) Tj ET Q q 0 0 0 rg BT 89.36 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 91.30 713.25 Td (Asbestos and Envir) Tj ET Q q 0 0 0 rg BT 173.92 713.25 Td (onmental Claims within Pr) Tj ET Q q 0 0 0 rg BT 289.02 713.25 Td (operty & Casualty Other) Tj ET Q q 0 0 0 rg BT 395.77 713.25 Td ( Operations) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (How ) Tj ET Q q 0 0 0 rg BT 52.71 695.25 Td (A&E ) Tj ET Q q 0 0 0 rg BT 75.21 695.25 Td (r) Tj ET Q q 0 0 0 rg BT 78.73 695.25 Td (eserves ) Tj ET Q q 0 0 0 rg BT 110.66 695.25 Td (ar) Tj ET Q q 0 0 0 rg BT 119.18 695.25 Td (e ) Tj ET Q q 0 0 0 rg BT 126.11 695.25 Td (set) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.25 Td (In establishing reserves for asbestos claims, the Company evaluates its insureds) Tj ET Q q 0 0 0 rg BT 352.63 677.25 Td ( estimated liabilities for such claims using a ground-up ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (approach. ) Tj ET Q q 0 0 0 rg BT 72.96 665.25 Td (The Company considers a variety of factors, including the jurisdictions where underlying claims have been brought, past, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (pending and anticipated future claim activity) Tj ET Q q 0 0 0 rg BT 209.95 653.25 Td (, disease mix, past settlement values of similar claims, dismissal rates, allocated loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (adjustment expense, and potential bankruptcy impact.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (Similarly) Tj ET Q q 0 0 0 rg BT 68.07 623.25 Td (, a ground-up exposure review approach is used to establish environmental reserves. ) Tj ET Q q 0 0 0 rg BT 407.23 623.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 466.94 623.25 Td (s evaluation of its insureds) Tj ET Q q 0 0 0 rg BT 576.18 623.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (estimated liabilities for environmental claims involves consideration of several factors, including historical values of similar claims, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (number of sites involved, the insureds) Tj ET Q q 0 0 0 rg BT 186.29 599.25 Td ( alleged activities at each site, the alleged environmental damage at each site, the respective shares ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (of liability of potentially responsible parties at each site, the appropriateness and cost of remediation at each site, the nature of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (governmental enforcement activities at each site, and potential bankruptcy impact.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (Having evaluated its insureds) Tj ET Q q 0 0 0 rg BT 152.12 557.25 Td ( probable liabilities for asbestos and/or environmental claims, the Company then evaluates its insureds) Tj ET Q q 0 0 0 rg BT 564.61 557.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (insurance coverage programs for such claims. ) Tj ET Q q 0 0 0 rg BT 217.08 545.25 Td (The Company considers its insureds) Tj ET Q q 0 0 0 rg BT 364.65 545.25 Td ( total available insurance coverage, including the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (coverage issued by the Company) Tj ET Q q 0 0 0 rg BT 163.04 533.25 Td (. ) Tj ET Q q 0 0 0 rg BT 167.86 533.25 Td (The Company also considers relevant judicial interpretations of policy language and applicable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (coverage defenses or determinations, if any) Tj ET Q q 0 0 0 rg BT 204.67 521.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (Evaluation of both the insureds) Tj ET Q q 0 0 0 rg BT 159.06 503.25 Td ( estimated liabilities and the Company) Tj ET Q q 0 0 0 rg BT 315.42 503.25 Td (s exposure to the insureds depends heavily on an analysis of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (relevant legal issues and litigation environment. ) Tj ET Q q 0 0 0 rg BT 225.44 491.25 Td (This analysis is conducted by the Company) Tj ET Q q 0 0 0 rg BT 402.08 491.25 Td (s lawyers and is subject to applicable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (privileges.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (For both asbestos and environmental reserves, the Company also compares its historical direct net loss and expense paid and reported ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (experience, and net loss and expense paid and reported experience year by year) Tj ET Q q 0 0 0 rg BT 348.45 449.25 Td (, to assess any emer) Tj ET Q q 0 0 0 rg BT 427.41 449.25 Td (ging trends, fluctuations or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (characteristics suggested by the aggregate paid and reported activity) Tj ET Q q 0 0 0 rg BT 303.52 437.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (Once the gross ultimate exposure for indemnity and allocated loss adjustment expense is determined for its insureds by each policy year) Tj ET Q q 0 0 0 rg BT 575.39 419.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.25 Td (the Company calculates its ceded reinsurance projection based on any applicable facultative and treaty reinsurance and the Company) Tj ET Q q 0 0 0 rg BT 566.01 407.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.25 Td (experience with reinsurance collections.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 377.25 Td (Uncertainties Regar) Tj ET Q q 0 0 0 rg BT 112.50 377.25 Td (ding ) Tj ET Q q 0 0 0 rg BT 132.60 377.25 Td (Adequacy of ) Tj ET Q q 0 0 0 rg BT 184.62 377.25 Td (Asbestos and Envir) Tj ET Q q 0 0 0 rg BT 261.47 377.25 Td (onmental Reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.25 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 359.25 Td ( number of factors af) Tj ET Q q 0 0 0 rg BT 121.84 359.25 Td (fect the variability of estimates for asbestos and environmental reserves including assumptions with respect to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (frequency of claims, the average severity of those claims settled with payment, the dismissal rate of claims with no payment and the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (expense to indemnity ratio. ) Tj ET Q q 0 0 0 rg BT 142.68 335.25 Td (The uncertainty with respect to the underlying reserve assumptions for asbestos and environmental adds a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.25 Td (greater degree of variability to these reserve estimates than reserve estimates for more traditional exposures. ) Tj ET Q q 0 0 0 rg BT 466.14 323.25 Td (While this variability is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.25 Td (reflected in part in the size of the range of reserves developed by the Company) Tj ET Q q 0 0 0 rg BT 345.73 311.25 Td (, that range may still not be indicative of the potential ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.25 Td (variance between the ultimate outcome and the recorded reserves. ) Tj ET Q q 0 0 0 rg BT 297.31 299.25 Td (The recorded net reserves as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.46 299.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.05 299.25 Td ( of approximately) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.25 Td ($2.01) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 287.25 Td ( billion \() Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.44 287.25 Td ($1.73 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.56 287.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 159.00 287.25 Td ($276) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.00 287.25 Td ( for asbestos and environmental, respectively\) are within an estimated range, unadjusted for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (covariance, of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.63 275.25 Td ($1.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.13 275.25 Td ( billion to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.52 275.25 Td ($2.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.02 275.25 Td ( billion. ) Tj ET Q q 0 0 0 rg BT 200.46 275.25 Td (The process of estimating asbestos and environmental reserves remains subject to a wide ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.25 Td (variety of uncertainties, which are detailed in Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.70 263.25 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 246.70 263.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.03 263.25 Td (Commitments and Contingencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.35 263.25 Td ( of Notes to Consolidated Financial Statements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.25 Td (The Company believes that its current asbestos and environmental reserves are appropriate. However) Tj ET Q q 0 0 0 rg BT 436.23 251.25 Td (, analyses of future developments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.25 Td (could cause the Company to change its estimates and ranges of its asbestos and environmental reserves, and the ef) Tj ET Q q 0 0 0 rg BT 488.13 239.25 Td (fect of these changes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.25 Td (could be material to the Company's consolidated operating results or cash flows. Consistent with the Company's long-standing reserve ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (practices, the Company will continue to review and monitor its reserves in Property& Casualty Other Operations regularly) Tj ET Q q 0 0 0 rg BT 523.50 215.25 Td (, including its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.25 Td (annual reviews of asbestos liabilities, reinsurance recoverables and the allowance for uncollectible reinsurance, and environmental ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.25 Td (liabilities, and where future developments indicate, make appropriate adjustments to the reserves. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (T) Tj ET Q q 0 0 0 rg BT 37.25 173.25 Td (otal Pr) Tj ET Q q 0 0 0 rg BT 66.23 173.25 Td (operty and Casualty Insurance Pr) Tj ET Q q 0 0 0 rg BT 211.05 173.25 Td (oduct Reserves, Net of Reinsurance, Results) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.25 Td (In the opinion of management, based upon the known facts and current law) Tj ET Q q 0 0 0 rg BT 332.15 155.25 Td (, the reserves recorded for the Company) Tj ET Q q 0 0 0 rg BT 495.14 155.25 Td (s property and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.25 Td (casualty insurance products at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.23 143.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.82 143.25 Td ( represent the Company) Tj ET Q q 0 0 0 rg BT 330.85 143.25 Td (s best estimate of its ultimate liability for losses and loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.25 Td (adjustment expenses related to losses covered by policies written by the Company) Tj ET Q q 0 0 0 rg BT 359.38 131.25 Td (. However) Tj ET Q q 0 0 0 rg BT 400.63 131.25 Td (, because of the significant uncertainties ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 119.25 Td (surrounding reserves, and particularly asbestos and environmental exposures, it is possible that management) Tj ET Q q 0 0 0 rg BT 467.50 119.25 Td (s estimate of the ultimate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 107.25 Td (liabilities for these claims may change and that the required adjustment to recorded reserves could exceed the currently recorded reserves ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 95.25 Td (by an amount that could be material to the Company) Tj ET Q q 0 0 0 rg BT 244.50 95.25 Td (s results of operations or cash flows. ) Tj ET Q endstream endobj 99 0 obj <> endobj 100 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (49) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Reserve Roll-forwards and Development) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Based on the results of the quarterly reserve review process, the Company determines the appropriate reserve adjustments, if any) Tj ET Q q 0 0 0 rg BT 546.23 695.25 Td (, to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (record. Recorded reserve estimates are changed after consideration of numerous factors, including but not limited to, the magnitude of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (the dif) Tj ET Q q 0 0 0 rg BT 57.14 671.25 Td (ference between the actuarial indication and the recorded reserves, improvement or deterioration of actuarial indications in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (period, the maturity of the accident year) Tj ET Q q 0 0 0 rg BT 191.31 659.25 Td (, trends observed over the recent past and the level of volatility within a particular line of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (business. In general, adjustments are made more quickly to more mature accident years and less volatile lines of business. Such ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (adjustments of reserves are referred to as reserve development. Reserve development that increases previous estimates of ultimate cost ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (is called reserve strengthening. Reserve development that decreases previous estimates of ultimate cost is called reserve releases. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (Reserve development can influence the comparability of year over year underwriting results and is set forth in the paragraphs and tables ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (that follow) Tj ET Q q 0 0 0 rg BT 74.45 599.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 581.25 Td ( roll-forward of property and casualty insurance product liabilities for unpaid losses and loss adjustment expenses follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 504.75 306.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 504.75 64.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 504.75 52.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 504.75 55.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 504.75 69.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 463.75 306.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 463.75 64.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 463.75 52.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 463.75 55.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 463.75 69.00 -26.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 414.75 306.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 414.75 64.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 414.75 52.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 414.75 55.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 414.75 69.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 376.75 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 376.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 376.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 376.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 376.75 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 339.75 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 339.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 339.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 339.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 339.75 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 302.75 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 302.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 302.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 302.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 302.75 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 265.75 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 265.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 265.75 52.00 -14.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 454.00 265.75 55.00 -14.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 509.00 265.75 69.00 -14.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 454.00 251.75 55.00 -14.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 509.00 251.75 69.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 237.75 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 237.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 237.75 52.00 -14.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 454.00 237.75 55.00 -14.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 509.00 237.75 69.00 -14.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 454.00 223.75 55.00 -14.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 509.00 223.75 69.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 551.75 m 338 551.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 551.75 m 402 551.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 402 551.75 m 454 551.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454 551.75 m 509 551.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 551.75 m 578 551.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 504.75 m 338 504.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 504.75 m 402 504.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 402 504.75 m 454 504.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454 504.75 m 509 504.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 504.75 m 578 504.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 463.75 m 338 463.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 463.75 m 402 463.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 402 463.75 m 454 463.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454 463.75 m 509 463.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 463.75 m 578 463.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 437.75 m 338 437.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 437.75 m 402 437.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 402 437.75 m 454 437.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454 437.75 m 509 437.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 437.75 m 578 437.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 362.75 m 338 362.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 362.75 m 402 362.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 402 362.75 m 454 362.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454 362.75 m 509 362.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 362.75 m 578 362.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 325.75 m 338 325.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 325.75 m 402 325.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 402 325.75 m 454 325.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454 325.75 m 509 325.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 325.75 m 578 325.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 288.75 m 338 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 288.75 m 402 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 402 288.75 m 454 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454 288.75 m 509 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 288.75 m 578 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 265.75 m 338 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 265.75 m 402 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 265.75 m 454 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 265.75 m 509 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 265.75 m 578 265.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 209.75 m 338 209.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 209.75 m 402 209.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 209.75 m 454 209.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 209.75 m 509 209.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 209.75 m 578 209.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 222.70 555.48 Td (For the year ended December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 509.42 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 345.00 529.43 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.60 519.43 Td (Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.20 509.43 Td (Commercial) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.35 519.43 Td (Consumer) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.45 509.43 Td (Markets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 456.50 539.43 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 462.10 529.43 Td (Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.30 519.43 Td (Other) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.10 509.43 Td (Operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.75 519.43 Td (Total Property) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 518.65 509.43 Td (& Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 493.43 Td (Beginning liabilities for unpaid losses and loss adjustment expenses,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 483.43 Td (gross) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.50 483.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.65 483.43 Td (16,020) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 404.50 483.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.65 483.43 Td (1,926) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 456.50 483.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.65 483.43 Td (3,770) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.50 483.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 483.43 Td (21,716) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 468.42 Td (Reinsurance and other recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 468.42 Td (2,365) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 468.42 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.15 468.42 Td (646) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.65 468.42 Td (3,027) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 452.43 Td (Beginning liabilities for unpaid losses and loss adjustment expenses,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 442.43 Td (net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.65 442.43 Td (13,655) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.65 442.43 Td (1,910) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.65 442.43 Td (3,124) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 442.43 Td (18,689) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 419.43 Td (Provision for unpaid losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 419.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.50 419.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.50 419.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.50 419.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 395.42 Td (Current accident year before catastrophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 395.42 Td (3,897) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.65 395.42 Td (2,412) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.15 395.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.65 395.42 Td (6,309) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 381.32 Td (Current accident year catastrophes [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.15 381.32 Td (105) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.15 381.32 Td (207) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.15 381.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 381.32 Td (312) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 367.32 Td (Prior accident years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.15 367.32 Td (83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.80 367.37 Td (\(39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 367.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.15 367.32 Td (148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 367.32 Td (192) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 344.43 Td (Total provision for unpaid losses and loss adjustment expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 375.65 344.43 Td (4,085) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.65 344.43 Td (2,580) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.15 344.43 Td (148) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 551.65 344.43 Td (6,813) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 330.32 Td (Less: Payments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 330.32 Td (3,889) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.65 330.32 Td (2,639) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.15 330.32 Td (298) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.65 330.32 Td (6,826) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 307.43 Td (Ending liabilities for unpaid losses and loss adjustment expenses, net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.65 307.43 Td (13,851) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.65 307.43 Td (1,851) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.65 307.43 Td (2,974) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 307.43 Td (18,676) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 293.32 Td (Reinsurance and other recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 293.32 Td (2,442) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 293.32 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.15 293.32 Td (573) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.65 293.32 Td (3,028) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 279.48 Td (Ending liabilities for unpaid losses and loss adjustment expenses,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 269.48 Td (gross) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.50 270.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.65 270.43 Td (16,293) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 404.50 270.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.65 270.43 Td (1,864) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 456.50 270.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.65 270.43 Td (3,547) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.50 270.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 270.43 Td (21,704) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 256.32 Td (Earned premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 256.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 256.32 Td (6,203) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.50 256.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.65 256.32 Td (3,660) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 242.32 Td (Loss and loss expense paid ratio [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.65 242.32 Td (62.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.65 242.32 Td (72.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 228.32 Td (Loss and loss expense incurred ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.65 228.32 Td (65.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.65 228.32 Td (70.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 214.32 Td (Prior accident years development \(pts\) [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.65 214.32 Td (1.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.30 214.37 Td (\(1.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 214.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 193.45 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 193.45 Td (The loss and loss expense paid ratio r) Tj ET Q q 0 0 0 rg BT 195.42 193.45 Td (epr) Tj ET Q q 0 0 0 rg BT 207.09 193.45 Td (esents the ratio of paid losses and loss adjustment expenses to earned pr) Tj ET Q q 0 0 0 rg BT 467.73 193.45 Td (emiums.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 182.65 Td ([2] ) Tj ET Q q 0 0 0 rg BT 49.50 182.65 Td (Prior accident years development \(pts\) r) Tj ET Q q 0 0 0 rg BT 205.39 182.65 Td (epr) Tj ET Q q 0 0 0 rg BT 217.05 182.65 Td (esents the ratio of prior accident years development to earned pr) Tj ET Q q 0 0 0 rg BT 450.67 182.65 Td (emiums.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 171.85 Td ([3] ) Tj ET Q q 0 0 0 rg BT 49.50 171.85 Td (Contributing to the curr) Tj ET Q q 0 0 0 rg BT 135.92 171.85 Td (ent accident year catastr) Tj ET Q q 0 0 0 rg BT 224.81 171.85 Td (ophes losses wer) Tj ET Q q 0 0 0 rg BT 284.97 171.85 Td (e the following events:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 68.00 110.35 133.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 110.35 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 110.35 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 110.35 58.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 68.00 86.35 133.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 86.35 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 86.35 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 86.35 58.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 148.35000000000002 m 201 148.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 148.35000000000002 m 256 148.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 148.35000000000002 m 306 148.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 148.35000000000002 m 364 148.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 148.35000000000002 m 201 148.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 110.35000000000002 m 201 110.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 110.35000000000002 m 256 110.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 148.35000000000002 m 306 148.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 110.35000000000002 m 306 110.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 110.35000000000002 m 364 110.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 74.35000000000002 m 201 74.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 68 62.35000000000002 m 201 62.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 74.35000000000002 m 256 74.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 201 62.35000000000002 m 256 62.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 74.35000000000002 m 306 74.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 62.35000000000002 m 306 62.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 74.35000000000002 m 364 74.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 62.35000000000002 m 364 62.35000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 141.85 152.75 Td (For the year ended December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 70.50 114.80 Td (Category) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 205.95 132.80 Td (Pr) Tj ET Q q 0 0 0 rg BT 215.28 132.80 Td (operty &) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 210.95 123.80 Td (Casualty) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 204.30 114.80 Td (Commer) Tj ET Q q 0 0 0 rg BT 238.12 114.80 Td (cial) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.55 123.80 Td (Consumer) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.25 114.80 Td (Markets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 324.65 139.75 Td (T) Tj ET Q q 0 0 0 rg BT 329.83 139.75 Td (otal) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.95 130.75 Td (Pr) Tj ET Q q 0 0 0 rg BT 318.28 130.75 Td (opertyand) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.45 121.75 Td (Casualty) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 315.20 112.80 Td (Insurance) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 101.61 Td (Thunderstorms and hail [1]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 203.50 101.61 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.50 101.61 Td (65) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.50 101.61 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 289.00 101.61 Td (103) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 308.50 101.61 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.00 101.61 Td (168) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 89.61 Td (Tornadoes [1]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.50 89.61 Td (27) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.50 89.61 Td (63) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.50 89.61 Td (90) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 77.61 Td (Other [1] [2]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.50 77.61 Td (13) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.50 77.61 Td (41) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.50 77.61 Td (54) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 70.50 65.75 Td (Total \(before tax\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 203.50 65.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 239.00 65.75 Td (105) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 258.50 65.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 289.00 65.75 Td (207) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.50 65.75 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.00 65.75 Td (312) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 46.05 Td ([1] ) Tj ET Q q 0 0 0 rg BT 81.09 46.05 Td (Amounts r) Tj ET Q q 0 0 0 rg BT 118.01 46.05 Td (epr) Tj ET Q q 0 0 0 rg BT 129.67 46.05 Td (esent an aggr) Tj ET Q q 0 0 0 rg BT 178.33 46.05 Td (egation of multiple catastr) Tj ET Q q 0 0 0 rg BT 273.24 46.05 Td (ophes acr) Tj ET Q q 0 0 0 rg BT 308.15 46.05 Td (oss multiple U.S. geographic r) Tj ET Q q 0 0 0 rg BT 417.81 46.05 Td (egions. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 35.25 Td ([2] Includes wildfir) Tj ET Q q 0 0 0 rg BT 137.67 35.25 Td (e, winter storms and flooding.) Tj ET Q endstream endobj 101 0 obj <> endobj 102 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (50) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 711.7669921875 m 215.3134765625 711.7669921875 l s q 0 0 0 rg BT 31.50 713.10 Td (Prior accident years development recorded in ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 215.3134765625 711.7669921875 m 235.3134765625 711.7669921875 l s q 0 0 0 rg BT 215.31 713.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.31 713.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (Included within prior accident years development for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.50 695.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.08 695.10 Td ( were the following loss and loss adjustment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (expense reserve strengthenings \(releases\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 624.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 624.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 624.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 624.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 624.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 594.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 594.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 594.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 594.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 594.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 564.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 564.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 564.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 564.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 564.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 534.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 534.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 534.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 534.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 534.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 504.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 504.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 504.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 504.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 504.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 474.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 474.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 474.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 474.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 474.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 436.60 228.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 436.60 76.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 436.60 76.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 436.60 76.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 436.60 76.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 399.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 399.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 399.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 399.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 399.60 76.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 658.6 m 260 658.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 624.6 m 260 624.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260 658.6 m 336 658.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260 624.6 m 336 624.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 336 658.6 m 412 658.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 336 624.6 m 412 624.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 658.6 m 488 658.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 624.6 m 488 624.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 658.6 m 564 658.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 624.6 m 564 624.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 384.6 m 260 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 369.6 m 260 369.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260 384.6 m 336 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260 369.6 m 336 369.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 336 384.6 m 412 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336 369.6 m 412 369.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 384.6 m 488 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 369.6 m 488 369.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 384.6 m 564 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 369.6 m 564 369.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 663.28 Td (For the year ended December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 629.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 273.00 649.28 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.60 639.28 Td (Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 271.20 629.28 Td (Commercial) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 351.35 639.28 Td (Consumer) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 355.45 629.28 Td (Markets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.00 649.28 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.65 639.28 Td (Casualty Other) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.60 629.28 Td (Operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.25 649.28 Td (Total Property) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.15 639.28 Td (& Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.10 629.28 Td (Insurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 614.27 Td (Auto liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.50 614.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.15 614.27 Td (141) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.50 614.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.15 614.27 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.50 614.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 614.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.50 614.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 614.27 Td (144) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 599.27 Td (Homeowners) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 599.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.80 599.32 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 599.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 599.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.80 599.27 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 599.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 584.27 Td (Professional liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.80 584.32 Td (\(29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 584.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 584.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 584.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.80 584.27 Td (\(29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 584.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 569.27 Td (Package business) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.15 569.27 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 569.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 569.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.15 569.27 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 554.27 Td (General liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.80 554.32 Td (\(75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 554.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 554.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 554.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.80 554.27 Td (\(75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 554.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 539.27 Td (Fidelity and surety) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.80 539.32 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 539.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 539.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 539.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.80 539.27 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 539.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 524.27 Td (Commercial property) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.80 524.32 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 524.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 524.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 524.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.80 524.27 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 524.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 509.27 Td (Net asbestos reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 509.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 509.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.15 509.27 Td (130) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 509.27 Td (130) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 494.27 Td (Net environmental reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 494.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 494.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 494.27 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.15 494.27 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 479.27 Td (Uncollectible reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.80 479.32 Td (\(25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 479.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 479.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 479.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.80 479.27 Td (\(25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 479.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 464.27 Td (Workers compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.80 464.32 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 464.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 464.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 464.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.80 464.27 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 464.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 450.17 Td (Workers compensation - NY 25a Fund for Reopened) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 440.17 Td (Cases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 441.27 Td (80) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 441.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 441.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.15 441.27 Td (80) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 427.17 Td (Change in workers compensation discount, including) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 417.22 Td (accretion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 419.27 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 419.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 419.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.15 419.27 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 404.27 Td (Catastrophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.80 404.32 Td (\(24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 404.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.80 404.32 Td (\(39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 404.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 404.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.80 404.27 Td (\(63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 404.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 389.27 Td (Other reserve re-estimates, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 389.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.15 389.27 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 389.27 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.15 389.27 Td (9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 374.28 Td (Total prior accident years development) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 262.50 374.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.15 374.28 Td (83) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 338.50 374.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 394.80 374.33 Td (\(39) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.15 374.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.50 374.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.15 374.28 Td (148) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.50 374.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 545.15 374.28 Td (192) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 358.10 Td (During ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.33 358.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.33 358.10 Td (, the Company) Tj ET Q q 0 0 0 rg BT 143.71 358.10 Td (s re-estimates of prior accident years reserves included the following significant reserve changes:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 340.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 340.10 Td (Strengthened reserves in commercial auto liability) Tj ET Q q 0 0 0 rg BT 268.17 340.10 Td (, primarily related to specialty lines claims, arising from a higher frequency ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 328.10 Td (of lar) Tj ET Q q 0 0 0 rg BT 88.70 328.10 Td (ge loss bodily injury claims in accident years 2010 through 2012.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 310.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 310.10 Td (Released reserves in professional liability for accident years 2008 through 2012 due to lower than expected claim severity) Tj ET Q q 0 0 0 rg BT 554.75 310.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 298.10 Td (primarily for lar) Tj ET Q q 0 0 0 rg BT 131.74 298.10 Td (ge-sized accounts.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 280.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 280.10 Td (Released reserves in general liability in accident years 2006 through 201) Tj ET Q q 0 0 0 rg BT 357.59 280.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 369.91 280.10 Td (The emer) Tj ET Q q 0 0 0 rg BT 407.76 280.10 Td (gence of claim severity as well as the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 268.10 Td (frequency of late reported claims for these years was lower than expected and management has placed more weight on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 256.10 Td (emer) Tj ET Q q 0 0 0 rg BT 87.30 256.10 Td (ged experience.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 238.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 238.10 Td (Refer to the Property& Casualty Other Operations Claims section for further discussion on net asbestos and net environmental ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 226.10 Td (reserves.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 208.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 208.10 Td (The Company reviewed its allowance for uncollectible reinsurance in the second quarter of 2013 and reduced its allowance as a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 196.10 Td (result of favorable collections compared to expectations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 178.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 178.10 Td (Release in workers) Tj ET Q q 0 0 0 rg BT 146.17 178.10 Td ( compensation is the net of releases for accident year 2009 and prior reflecting favorable development in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 166.10 Td (average severity) Tj ET Q q 0 0 0 rg BT 132.09 166.10 Td (, the result of a speed up in settlements and the result of moving to an enhanced state-level analysis of loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 154.10 Td (experience, of) Tj ET Q q 0 0 0 rg BT 123.95 154.10 Td (fset by strengthening workers) Tj ET Q q 0 0 0 rg BT 245.12 154.10 Td ( compensation for accident years 2010 through 2012 reflecting the emer) Tj ET Q q 0 0 0 rg BT 533.17 154.10 Td (gence of a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 142.10 Td (higher mix of more severe claims.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 124.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 124.10 Td (Reserve strengthening related to the closing of the New ) Tj ET Q q 0 0 0 rg BT 291.78 124.10 Td (Y) Tj ET Q q 0 0 0 rg BT 298.00 124.10 Td (ork Section 25A) Tj ET Q q 0 0 0 rg BT 363.00 124.10 Td ( Fund for Reopened Cases \(the "Fund"\). ) Tj ET Q q 0 0 0 rg BT 528.46 124.10 Td (These ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 112.10 Td (claims were previously funded through assessments and paid by the Fund. ) Tj ET Q q 0 0 0 rg BT 369.21 112.10 Td (The claims will become payable by the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 100.10 Td (ef) Tj ET Q q 0 0 0 rg BT 75.09 100.10 Td (fective January 1, 2014.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 82.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 82.10 Td (Released reserves for catastrophes primarily related to Storm Sandy) Tj ET Q q 0 0 0 rg BT 338.43 82.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 64.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 64.10 Td (Other reserve re-estimates, net includes an $18 recovery related to a class action settlement with ) Tj ET Q q 0 0 0 rg BT 454.02 64.10 Td (American International Group ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 52.10 Td (involving prior accident years involuntary workers compensation pool loss and loss adjustment expense.) Tj ET Q endstream endobj 103 0 obj <> endobj 104 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (51) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 713.10 Td ( roll-forward follows of property and casualty insurance product liabilities for unpaid losses and loss adjustment expenses for the year ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.88 701.10 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 136.46 701.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 636.60 264.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 636.60 71.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 636.60 56.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 636.60 75.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 636.60 73.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 597.60 264.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 597.60 71.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 597.60 56.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 597.60 75.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 597.60 73.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 549.60 264.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 549.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 549.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 549.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 549.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 519.60 264.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 519.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 519.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 519.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 519.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 480.60 264.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 480.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 480.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 480.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 480.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 441.60 264.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 441.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 441.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 441.60 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 441.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 402.60 264.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 402.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 402.60 56.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 423.00 402.60 75.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 498.00 402.60 73.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 423.00 387.60 75.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 498.00 387.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 372.60 264.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 372.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 367.00 372.60 56.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 423.00 372.60 75.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 498.00 372.60 73.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 423.00 357.60 75.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 498.00 357.60 73.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 670.6 m 296 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 670.6 m 367 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 367 670.6 m 423 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 670.6 m 498 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498 670.6 m 571 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 636.6 m 296 636.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 636.6 m 367 636.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 367 636.6 m 423 636.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 636.6 m 498 636.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498 636.6 m 571 636.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 597.6 m 296 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 597.6 m 367 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 367 597.6 m 423 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 597.6 m 498 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498 597.6 m 571 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 573.6 m 296 573.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 573.6 m 367 573.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 367 573.6 m 423 573.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 573.6 m 498 573.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498 573.6 m 571 573.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 504.6 m 296 504.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 504.6 m 367 504.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 367 504.6 m 423 504.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 504.6 m 498 504.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498 504.6 m 571 504.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 465.6 m 296 465.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 465.6 m 367 465.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 367 465.6 m 423 465.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 465.6 m 498 465.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498 465.6 m 571 465.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 426.6 m 296 426.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 426.6 m 367 426.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 367 426.6 m 423 426.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 426.6 m 498 426.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498 426.6 m 571 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 402.6 m 296 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 402.6 m 367 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367 402.6 m 423 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 402.6 m 498 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 402.6 m 571 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 342.6 m 296 342.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 342.6 m 367 342.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 367 342.6 m 423 342.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 342.6 m 498 342.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 342.6 m 571 342.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 219.20 675.28 Td (For the year ended December 31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 641.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 306.50 661.28 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 312.10 651.28 Td (Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 304.70 641.28 Td (Commercial) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.35 651.28 Td (Consumer) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 376.45 641.28 Td (Markets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 435.50 661.28 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.15 651.28 Td (Casualty Other) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.10 641.28 Td (Operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 502.75 661.28 Td (Total Property) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.65 651.28 Td (& Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.60 641.28 Td (Insurance) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 627.28 Td (Beginning liabilities for unpaid losses and loss adjustment) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 617.28 Td (expenses, gross) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 298.50 617.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 335.65 617.28 Td (15,437) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 369.50 617.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.65 617.28 Td (2,061) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.50 617.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.65 617.28 Td (4,052) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 500.50 617.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 539.65 617.28 Td (21,550) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 602.27 Td (Reinsurance and other recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.65 602.27 Td (2,343) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 602.27 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 602.27 Td (681) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.65 602.27 Td (3,033) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 588.28 Td (Beginning liabilities for unpaid losses and loss adjustment) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 578.28 Td (expenses, net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 335.65 578.28 Td (13,094) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.65 578.28 Td (2,052) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.65 578.28 Td (3,371) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 539.65 578.28 Td (18,517) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 554.28 Td (Provision for unpaid losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 554.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.50 554.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.50 554.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.50 554.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 539.27 Td (Current accident year before catastrophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.65 539.27 Td (4,178) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.65 539.27 Td (2,390) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 539.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.65 539.27 Td (6,568) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 524.27 Td (Current accident year catastrophes [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.15 524.27 Td (325) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.15 524.27 Td (381) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 524.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.15 524.27 Td (706) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 509.27 Td (Prior accident years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.15 509.27 Td (72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.80 509.32 Td (\(141) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.15 509.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 509.27 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 509.27 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 509.27 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 495.28 Td (Total provision for unpaid losses and loss adjustment) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 485.28 Td (expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.65 485.28 Td (4,575) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.65 485.28 Td (2,630) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 484.15 485.28 Td (65) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.65 485.28 Td (7,270) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 470.27 Td ( Less: Payments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.65 470.27 Td (4,014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.65 470.27 Td (2,772) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 470.27 Td (312) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.65 470.27 Td (7,098) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 456.28 Td (Ending liabilities for unpaid losses and loss adjustment) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 446.28 Td (expenses, net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 335.65 446.28 Td (13,655) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.65 446.28 Td (1,910) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.65 446.28 Td (3,124) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 539.65 446.28 Td (18,689) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 431.27 Td (Reinsurance and other recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.65 431.27 Td (2,365) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 431.27 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 431.27 Td (646) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.65 431.27 Td (3,027) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 417.28 Td (Ending liabilities for unpaid losses and loss adjustment) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 407.28 Td (expenses, gross) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 298.50 407.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 335.65 407.28 Td (16,020) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 369.50 407.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.65 407.28 Td (1,926) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.50 407.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.65 407.28 Td (3,770) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 500.50 407.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 539.65 407.28 Td (21,716) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 392.27 Td (Earned premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 392.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.65 392.27 Td (6,259) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.50 392.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.65 392.27 Td (3,636) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 377.27 Td (Loss and loss expense paid ratio [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.65 377.27 Td (64.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.65 377.27 Td (76.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 362.27 Td (Loss and loss expense incurred ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.65 362.27 Td (73.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.65 362.27 Td (72.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 347.27 Td (Prior accident years development \(pts\) [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.65 347.27 Td (1.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.30 347.32 Td (\(3.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.15 347.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 326.30 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 326.30 Td (The loss and loss expense paid ratio r) Tj ET Q q 0 0 0 rg BT 195.42 326.30 Td (epr) Tj ET Q q 0 0 0 rg BT 207.09 326.30 Td (esents the ratio of paid losses and loss adjustment expenses to earned pr) Tj ET Q q 0 0 0 rg BT 467.73 326.30 Td (emiums.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 315.50 Td ([2] ) Tj ET Q q 0 0 0 rg BT 49.50 315.50 Td (Prior accident years development \(pts\) r) Tj ET Q q 0 0 0 rg BT 205.39 315.50 Td (epr) Tj ET Q q 0 0 0 rg BT 217.05 315.50 Td (esents the ratio of prior accident years development to earned pr) Tj ET Q q 0 0 0 rg BT 450.67 315.50 Td (emiums.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 304.70 Td ([3] ) Tj ET Q q 0 0 0 rg BT 49.50 304.70 Td (Contributing to the curr) Tj ET Q q 0 0 0 rg BT 135.92 304.70 Td (ent accident year catastr) Tj ET Q q 0 0 0 rg BT 224.81 304.70 Td (ophes losses wer) Tj ET Q q 0 0 0 rg BT 284.97 304.70 Td (e the following events:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 68.00 242.20 133.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 242.20 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 242.20 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 242.20 58.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 68.00 218.20 133.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 218.20 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 218.20 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 218.20 58.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 68.00 194.20 133.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 194.20 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 194.20 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 194.20 58.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 281.20000000000005 m 201 281.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 281.20000000000005 m 256 281.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 281.20000000000005 m 306 281.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 281.20000000000005 m 364 281.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 281.20000000000005 m 201 281.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 242.20000000000005 m 201 242.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 242.20000000000005 m 256 242.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 281.20000000000005 m 306 281.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 242.20000000000005 m 306 242.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 242.20000000000005 m 364 242.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 242.20000000000005 m 364 242.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 182.20000000000005 m 201 182.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 68 170.20000000000005 m 201 170.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 182.20000000000005 m 256 182.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 201 170.20000000000005 m 256 170.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 182.20000000000005 m 306 182.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 170.20000000000005 m 306 170.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 182.20000000000005 m 364 182.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 170.20000000000005 m 364 170.20000000000005 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 141.85 285.60 Td (For the year ended December 31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 70.50 246.65 Td (Category) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 205.95 264.65 Td (Pr) Tj ET Q q 0 0 0 rg BT 215.28 264.65 Td (operty &) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 210.95 255.65 Td (Casualty) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 204.30 246.65 Td (Commer) Tj ET Q q 0 0 0 rg BT 238.12 246.65 Td (cial) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.55 255.65 Td (Consumer) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.25 246.65 Td (Markets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 324.65 272.60 Td (T) Tj ET Q q 0 0 0 rg BT 329.83 272.60 Td (otal) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.95 263.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 318.28 263.60 Td (opertyand) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.45 254.60 Td (Casualty) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 315.20 245.60 Td (Insurance) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 233.46 Td (Thunderstorms and hail [1]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 203.50 233.46 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.50 233.46 Td (84) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.50 233.46 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 289.00 233.46 Td (172) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 308.50 233.46 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.00 233.46 Td (256) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 221.46 Td (Tornadoes [1]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.50 221.46 Td (30) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.50 221.46 Td (40) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.50 221.46 Td (70) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 209.46 Td (Wildfire) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 248.00 209.46 Td (1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.50 209.46 Td (18) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.50 209.46 Td (19) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 197.46 Td (Storm Sandy) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 239.00 197.46 Td (207) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 289.00 197.46 Td (143) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.00 197.46 Td (350) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 185.46 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 248.00 185.46 Td (3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 298.00 185.46 Td (8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.50 185.46 Td (11) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 70.50 173.60 Td (Total \(before tax\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 203.50 173.60 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 239.00 173.60 Td (325) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 258.50 173.60 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 289.00 173.60 Td (381) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.50 173.60 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.00 173.60 Td (706) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 153.90 Td ( ) Tj ET Q q 0 0 0 rg BT 67.50 153.90 Td ([1] ) Tj ET Q q 0 0 0 rg BT 81.09 153.90 Td (Amounts r) Tj ET Q q 0 0 0 rg BT 118.01 153.90 Td (epr) Tj ET Q q 0 0 0 rg BT 129.67 153.90 Td (esent an aggr) Tj ET Q q 0 0 0 rg BT 178.33 153.90 Td (egation of multiple catastr) Tj ET Q q 0 0 0 rg BT 273.24 153.90 Td (ophes acr) Tj ET Q q 0 0 0 rg BT 308.15 153.90 Td (oss multiple U.S. geographic r) Tj ET Q q 0 0 0 rg BT 417.81 153.90 Td (egions.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 90.00 143.10 Td ( ) Tj ET Q endstream endobj 105 0 obj <> endobj 106 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (52) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 711.7669921875 m 215.3134765625 711.7669921875 l s q 0 0 0 rg BT 31.50 713.10 Td (Prior accident years development recorded in ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 215.3134765625 711.7669921875 m 235.3134765625 711.7669921875 l s q 0 0 0 rg BT 215.31 713.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.31 713.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (Included within prior accident years development for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.50 695.10 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.08 695.10 Td ( were the following loss and loss adjustment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (expense reserve strengthenings \(releases\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 619.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 619.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 619.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 619.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 619.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 589.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 589.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 589.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 589.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 589.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 559.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 559.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 559.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 559.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 559.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 529.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 529.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 529.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 529.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 529.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 499.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 499.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 499.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 499.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 499.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 469.60 228.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 469.60 76.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 469.60 76.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 469.60 76.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 469.60 76.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 431.60 228.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 260.00 431.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 336.00 431.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 431.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 431.60 76.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 653.6 m 260 653.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260 653.6 m 336 653.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 336 653.6 m 412 653.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 653.6 m 488 653.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 653.6 m 564 653.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 619.6 m 260 619.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260 619.6 m 336 619.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 336 619.6 m 412 619.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 619.6 m 488 619.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 619.6 m 564 619.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 619.6 m 260 619.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260 619.6 m 336 619.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 336 619.6 m 412 619.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 619.6 m 488 619.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 619.6 m 564 619.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 416.6 m 260 416.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 401.6 m 260 401.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 260 416.6 m 336 416.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 260 401.6 m 336 401.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 336 416.6 m 412 416.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336 401.6 m 412 401.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 416.6 m 488 416.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 401.6 m 488 401.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 416.6 m 564 416.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 401.6 m 564 401.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 657.33 Td (For the year ended December 31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 624.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 273.00 644.28 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.60 634.28 Td (Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 271.20 624.28 Td (Commercial) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 351.35 634.28 Td (Consumer) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 355.45 624.28 Td (Markets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.00 644.28 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.65 634.28 Td (Casualty Other) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.60 624.28 Td (Operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.25 644.28 Td (Total Property) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.15 634.28 Td (& Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.10 624.28 Td (Insurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 609.27 Td (Auto liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.50 609.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 609.27 Td (56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.50 609.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.80 609.32 Td (\(81) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 609.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.50 609.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 609.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.50 609.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.80 609.27 Td (\(25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 609.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 594.27 Td (Homeowners) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 594.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.80 594.32 Td (\(32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 594.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 594.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.80 594.27 Td (\(32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 594.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 579.27 Td (Professional liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 579.27 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 579.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 579.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.15 579.27 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 564.27 Td (Package business) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.80 564.32 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 564.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 564.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 564.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.80 564.27 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 564.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 549.27 Td (General liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.80 549.32 Td (\(87) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 549.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 549.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 549.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.80 549.27 Td (\(87) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 549.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 534.27 Td (Fidelity and surety) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.80 534.32 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 534.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 534.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 534.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.80 534.27 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 534.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 519.27 Td (Commercial property) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.80 519.32 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 519.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 519.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 519.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.80 519.27 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 519.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 504.27 Td (Net asbestos reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 504.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 504.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 504.27 Td (48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.15 504.27 Td (48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 489.27 Td (Net environmental reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 489.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 489.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 489.27 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.15 489.27 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 474.27 Td (Workers compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 474.27 Td (78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 474.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 474.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.15 474.27 Td (78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 460.17 Td (Change in workers compensation discount, including) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 450.17 Td (accretion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 451.27 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 451.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 451.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.15 451.27 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 436.27 Td (Catastrophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.80 436.32 Td (\(37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 436.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.80 436.32 Td (\(29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 436.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 436.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.80 436.27 Td (\(66) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 436.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 421.27 Td (Other reserve re-estimates, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.15 421.27 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.15 421.27 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 421.27 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.15 421.27 Td (15) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 406.28 Td (Total prior accident years development) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 262.50 406.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.15 406.28 Td (72) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 338.50 406.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.80 406.33 Td (\(141) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.15 406.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.50 406.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 474.15 406.28 Td (65) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.50 406.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 551.80 406.28 Td (\(4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 560.15 406.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 384.10 Td (During ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.33 384.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.33 384.10 Td (, the Company) Tj ET Q q 0 0 0 rg BT 143.71 384.10 Td (s re-estimates of prior accident years reserves included the following significant reserve changes:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 366.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 366.10 Td (Released reserves for personal auto liability claims, primarily for accident years 2008 through 201) Tj ET Q q 0 0 0 rg BT 460.34 366.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 469.79 366.10 Td (As these accident years ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 354.10 Td (matured, favorable bodily injury severity trends were observed and management placed more weight on the emer) Tj ET Q q 0 0 0 rg BT 520.49 354.10 Td (ged ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 342.10 Td (experience. Management has adjusted trend assumptions accordingly) Tj ET Q q 0 0 0 rg BT 346.21 342.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 324.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 324.10 Td (Released reserves for homeowners claims, primarily for accident year 201) Tj ET Q q 0 0 0 rg BT 364.23 324.10 Td (1 as a result of favorable lar) Tj ET Q q 0 0 0 rg BT 475.67 324.10 Td (ge loss frequency and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 312.10 Td (lower than expected severity) Tj ET Q q 0 0 0 rg BT 181.52 312.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 294.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 294.10 Td (Strengthened reserves for commercial auto liability claims, primarily for accident year 2010 and 201) Tj ET Q q 0 0 0 rg BT 469.77 294.10 Td (1. Higher than expected ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 282.10 Td (bodily injury severity) Tj ET Q q 0 0 0 rg BT 152.95 282.10 Td (, driven by lar) Tj ET Q q 0 0 0 rg BT 208.86 282.10 Td (ge loss activity) Tj ET Q q 0 0 0 rg BT 268.20 282.10 Td (, has been observed for these accident years.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 264.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 264.10 Td (Strengthened reserves for professional liability directors and of) Tj ET Q q 0 0 0 rg BT 319.74 264.10 Td (ficers claims for accident years 201) Tj ET Q q 0 0 0 rg BT 461.25 264.10 Td (1 and prior as a result of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 252.10 Td (higher severity) Tj ET Q q 0 0 0 rg BT 126.55 252.10 Td (, primarily for mid- and lar) Tj ET Q q 0 0 0 rg BT 234.12 252.10 Td (ge-sized accounts. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 234.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 234.10 Td (Released reserves in package business liability coverages and general liability) Tj ET Q q 0 0 0 rg BT 378.68 234.10 Td (, primarily for accident years 2006 through 201) Tj ET Q q 0 0 0 rg BT 567.70 234.10 Td (1. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 222.10 Td (Claim severity emer) Tj ET Q q 0 0 0 rg BT 148.40 222.10 Td (gence for these years was lower than expected and management has placed more weight on the emer) Tj ET Q q 0 0 0 rg BT 550.83 222.10 Td (ged ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 210.10 Td (experience. In addition, older years have improved due to favorable emer) Tj ET Q q 0 0 0 rg BT 363.03 210.10 Td (gence of lar) Tj ET Q q 0 0 0 rg BT 410.04 210.10 Td (ger claims.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 192.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 192.10 Td (Strengthened reserves in workers' compensation primarily due to the emer) Tj ET Q q 0 0 0 rg BT 364.31 192.10 Td (gence of lost time claims from 201) Tj ET Q q 0 0 0 rg BT 503.34 192.10 Td (1. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 174.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 174.10 Td (The change in workers) Tj ET Q q 0 0 0 rg BT 161.44 174.10 Td ( compensation discount, including accretion, primarily reflects a decrease in the number of tabular ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 162.10 Td (claims, and to a lesser extent, the decrease in interest rates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 144.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 144.10 Td (Reserve releases on certain prior year catastrophes, primarily related to 2001 ) Tj ET Q q 0 0 0 rg BT 376.64 144.10 Td (W) Tj ET Q q 0 0 0 rg BT 385.27 144.10 Td (orld ) Tj ET Q q 0 0 0 rg BT 403.70 144.10 Td (T) Tj ET Q q 0 0 0 rg BT 409.46 144.10 Td (rade Center worker's compensation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 132.10 Td (claims.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 114.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 114.10 Td (Refer to the Property& Casualty Other Operations Claims section for further discussion on net asbestos and net environmental ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 102.10 Td (reserves.) Tj ET Q endstream endobj 107 0 obj <> endobj 108 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (53) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 713.10 Td ( roll-forward follows of property and casualty insurance product liabilities for unpaid losses and loss adjustment expenses for the year ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.88 701.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 131.09 701.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 136.09 701.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 636.60 268.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 636.60 71.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 636.60 56.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 636.60 76.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 636.60 69.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 597.60 268.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 597.60 71.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 597.60 56.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 597.60 76.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 597.60 69.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 549.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 549.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 549.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 549.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 549.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 519.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 519.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 519.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 519.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 519.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 480.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 480.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 480.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 480.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 480.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 441.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 441.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 441.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 441.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 503.00 441.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 402.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 402.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 402.60 56.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 427.00 402.60 76.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 503.00 402.60 69.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 427.00 387.60 76.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 503.00 387.60 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 372.60 268.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 372.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 371.00 372.60 56.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 427.00 372.60 76.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 503.00 372.60 69.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 427.00 357.60 76.00 -15.00 re f /GS0 gs 0.7490196078431373 0.7490196078431373 0.7490196078431373 rg /GS0 gs 503.00 357.60 69.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 670.6 m 300 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300 670.6 m 371 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371 670.6 m 427 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 670.6 m 503 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503 670.6 m 572 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 636.6 m 300 636.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300 636.6 m 371 636.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371 636.6 m 427 636.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 636.6 m 503 636.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503 636.6 m 572 636.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 597.6 m 300 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300 597.6 m 371 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371 597.6 m 427 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 597.6 m 503 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503 597.6 m 572 597.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 573.6 m 300 573.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300 573.6 m 371 573.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371 573.6 m 427 573.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 573.6 m 503 573.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503 573.6 m 572 573.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 504.6 m 300 504.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300 504.6 m 371 504.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371 504.6 m 427 504.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 504.6 m 503 504.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503 504.6 m 572 504.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 465.6 m 300 465.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300 465.6 m 371 465.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371 465.6 m 427 465.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 465.6 m 503 465.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503 465.6 m 572 465.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 426.6 m 300 426.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 300 426.6 m 371 426.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 371 426.6 m 427 426.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 426.6 m 503 426.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503 426.6 m 572 426.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 402.6 m 300 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 402.6 m 371 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 402.6 m 427 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 402.6 m 503 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 402.6 m 572 402.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 342.6 m 300 342.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 342.6 m 371 342.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 371 342.6 m 427 342.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 342.6 m 503 342.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 342.6 m 572 342.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 219.95 675.28 Td (For the year ended December 31, 2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 641.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 310.50 661.28 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.10 651.28 Td (Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.70 641.28 Td (Commercial) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 376.35 651.28 Td (Consumer) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 380.45 641.28 Td (Markets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 440.00 661.28 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.65 651.28 Td (Casualty Other) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 440.60 641.28 Td (Operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.75 661.28 Td (Total Property) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.65 651.28 Td (& Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 515.60 641.28 Td (Insurance) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 627.28 Td (Beginning liabilities for unpaid losses and loss adjustment) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 617.28 Td (expenses, gross) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 302.50 617.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 339.65 617.28 Td (14,727) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 373.50 617.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 400.65 617.28 Td (2,177) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.50 617.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 476.65 617.28 Td (4,121) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.50 617.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 540.65 617.28 Td (21,025) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 602.27 Td (Reinsurance and other recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.65 602.27 Td (2,361) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 602.27 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 602.27 Td (699) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.65 602.27 Td (3,077) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 588.28 Td (Beginning liabilities for unpaid losses and loss adjustment) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 578.28 Td (expenses, net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 339.65 578.28 Td (12,366) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 400.65 578.28 Td (2,160) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 476.65 578.28 Td (3,422) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 540.65 578.28 Td (17,948) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 554.28 Td (Provision for unpaid losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.50 554.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.50 554.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.50 554.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.50 554.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 539.27 Td (Current accident year before catastrophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.65 539.27 Td (4,139) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.65 539.27 Td (2,536) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 539.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.65 539.27 Td (6,675) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 524.27 Td (Current accident year catastrophes [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.15 524.27 Td (320) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 524.27 Td (425) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 524.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 524.27 Td (745) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 509.27 Td (Prior accident years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.15 509.27 Td (125) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.80 509.32 Td (\(75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 509.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 509.27 Td (317) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 509.27 Td (367) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 495.28 Td (Total provision for unpaid losses and loss adjustment) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 485.28 Td (expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 344.65 485.28 Td (4,584) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 400.65 485.28 Td (2,886) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 484.15 485.28 Td (317) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 545.65 485.28 Td (7,787) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 470.27 Td (Less: Payments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.65 470.27 Td (3,856) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.65 470.27 Td (2,994) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 470.27 Td (368) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.65 470.27 Td (7,218) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 456.28 Td (Ending liabilities for unpaid losses and loss adjustment) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 446.28 Td (expenses, net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 339.65 446.28 Td (13,094) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 400.65 446.28 Td (2,052) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 476.65 446.28 Td (3,371) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 540.65 446.28 Td (18,517) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 431.27 Td (Reinsurance and other recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.65 431.27 Td (2,343) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.15 431.27 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 431.27 Td (681) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.65 431.27 Td (3,033) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 417.28 Td (Ending liabilities for unpaid losses and loss adjustment) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 407.28 Td (expenses, gross) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 302.50 407.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 339.65 407.28 Td (15,437) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 373.50 407.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 400.65 407.28 Td (2,061) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.50 407.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 476.65 407.28 Td (4,052) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.50 407.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 540.65 407.28 Td (21,550) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 392.27 Td (Earned premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.50 392.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.65 392.27 Td (6,127) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.50 392.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.65 392.27 Td (3,747) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 377.27 Td (Loss and loss expense paid ratio [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.65 377.27 Td (62.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.65 377.27 Td (79.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 362.27 Td (Loss and loss expense incurred ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.65 362.27 Td (74.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.65 362.27 Td (77.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 347.27 Td (Prior accident years development \(pts\) [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.65 347.27 Td (2.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.30 347.32 Td (\(2.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 347.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 326.30 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 326.30 Td (The loss and loss expense paid ratio r) Tj ET Q q 0 0 0 rg BT 195.42 326.30 Td (epr) Tj ET Q q 0 0 0 rg BT 207.09 326.30 Td (esents the ratio of paid losses and loss adjustment expenses to earned pr) Tj ET Q q 0 0 0 rg BT 467.73 326.30 Td (emiums.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 315.50 Td ([2] ) Tj ET Q q 0 0 0 rg BT 49.50 315.50 Td (Prior accident years development \(pts\) r) Tj ET Q q 0 0 0 rg BT 205.39 315.50 Td (epr) Tj ET Q q 0 0 0 rg BT 217.05 315.50 Td (esents the ratio of prior accident years development to earned pr) Tj ET Q q 0 0 0 rg BT 450.67 315.50 Td (emiums.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 304.70 Td ([3] ) Tj ET Q q 0 0 0 rg BT 49.50 304.70 Td (Contributing to the curr) Tj ET Q q 0 0 0 rg BT 135.92 304.70 Td (ent accident year catastr) Tj ET Q q 0 0 0 rg BT 224.81 304.70 Td (ophes losses wer) Tj ET Q q 0 0 0 rg BT 284.97 304.70 Td (e the following events:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 68.00 243.20 133.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 243.20 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 243.20 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 243.20 58.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 68.00 219.20 133.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 219.20 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 219.20 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 219.20 58.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 68.00 195.20 133.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 195.20 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 195.20 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 195.20 58.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 68.00 171.20 133.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 171.20 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 171.20 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 171.20 58.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 281.20000000000005 m 201 281.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 281.20000000000005 m 256 281.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 281.20000000000005 m 306 281.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 281.20000000000005 m 364 281.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 281.20000000000005 m 201 281.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 243.20000000000005 m 201 243.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 243.20000000000005 m 256 243.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 281.20000000000005 m 306 281.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 243.20000000000005 m 306 243.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 243.20000000000005 m 364 243.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 68 171.20000000000005 m 201 171.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 68 159.20000000000005 m 201 159.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 171.20000000000005 m 256 171.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 201 159.20000000000005 m 256 159.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 171.20000000000005 m 306 171.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 159.20000000000005 m 306 159.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 171.20000000000005 m 364 171.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 159.20000000000005 m 364 159.20000000000005 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 142.10 285.60 Td (For the year ended December 31, 2011) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 70.50 247.65 Td (Category) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 205.95 265.65 Td (Pr) Tj ET Q q 0 0 0 rg BT 215.28 265.65 Td (operty &) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 210.95 256.65 Td (Casualty) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 204.30 247.65 Td (Commer) Tj ET Q q 0 0 0 rg BT 238.12 247.65 Td (cial) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.55 256.65 Td (Consumer) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.25 247.65 Td (Markets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 324.65 272.60 Td (T) Tj ET Q q 0 0 0 rg BT 329.83 272.60 Td (otal) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.95 263.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 318.28 263.60 Td (opertyand) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.45 254.60 Td (Casualty) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 315.20 245.65 Td (Insurance) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 234.46 Td (Thunderstorms [1]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 203.50 234.46 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.50 234.46 Td (29) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 258.50 234.46 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.50 234.46 Td (87) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 308.50 234.46 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.00 234.46 Td (116) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 222.46 Td (Tornadoes [1]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 239.00 222.46 Td (184) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 289.00 222.46 Td (239) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.00 222.46 Td (423) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 210.46 Td (Winter Storms [1]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.50 210.46 Td (37) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.50 210.46 Td (38) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.50 210.46 Td (75) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 198.46 Td (Wildfire) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.50 198.46 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.50 198.46 Td (14) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.50 198.46 Td (14) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 186.46 Td (Hurricane Irene) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.50 186.46 Td (60) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.50 186.46 Td (43) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.00 186.46 Td (103) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 70.50 174.46 Td (Tropical Storm Lee) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.50 174.46 Td (10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 298.00 174.46 Td (4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.50 174.46 Td (14) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 70.50 162.60 Td (Total \(before tax\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 203.50 162.60 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 239.00 162.60 Td (320) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 258.50 162.60 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 289.00 162.60 Td (425) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.50 162.60 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.00 162.60 Td (745) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 142.90 Td ([1] ) Tj ET Q q 0 0 0 rg BT 81.09 142.90 Td (Amounts r) Tj ET Q q 0 0 0 rg BT 118.01 142.90 Td (epr) Tj ET Q q 0 0 0 rg BT 129.67 142.90 Td (esent an aggr) Tj ET Q q 0 0 0 rg BT 178.33 142.90 Td (egation of multiple catastr) Tj ET Q q 0 0 0 rg BT 273.24 142.90 Td (ophes acr) Tj ET Q q 0 0 0 rg BT 308.15 142.90 Td (oss multiple U.S. geographic r) Tj ET Q q 0 0 0 rg BT 417.81 142.90 Td (egions. ) Tj ET Q endstream endobj 109 0 obj <> endobj 110 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (54) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 711.7669921875 m 215.3134765625 711.7669921875 l s q 0 0 0 rg BT 31.50 713.10 Td (Prior accident years development recorded in ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 215.3134765625 711.7669921875 m 234.9423828125 711.7669921875 l s q 0 0 0 rg BT 215.31 713.10 Td (201) Tj ET Q q 0 0 0 rg BT 229.94 713.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.94 713.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (Included within prior accident years development for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.50 695.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 380.71 695.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.71 695.10 Td ( were the following loss and loss adjustment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (expense reserve strengthenings \(releases\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 618.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 618.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 618.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 618.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 618.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 588.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 588.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 588.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 588.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 588.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 558.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 558.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 558.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 558.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 558.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 528.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 528.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 528.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 528.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 528.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 498.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 498.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 498.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 498.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 498.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 468.60 226.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 468.60 76.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 468.60 76.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 468.60 76.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 468.60 76.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 430.60 226.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 430.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 430.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 430.60 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 486.00 430.60 76.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 652.6 m 258 652.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258 652.6 m 334 652.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 334 652.6 m 410 652.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 652.6 m 486 652.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486 652.6 m 562 652.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 618.6 m 258 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258 618.6 m 334 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 334 618.6 m 410 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 618.6 m 486 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486 618.6 m 562 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 618.6 m 258 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258 618.6 m 334 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 334 618.6 m 410 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 618.6 m 486 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486 618.6 m 562 618.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 415.6 m 258 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 401.6 m 258 401.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258 415.6 m 334 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 258 401.6 m 334 401.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 334 415.6 m 410 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 401.6 m 410 401.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 415.6 m 486 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 401.6 m 486 401.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 486 415.6 m 562 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 486 401.6 m 562 401.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 214.95 657.28 Td (For the year ended December 31, 2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 623.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 271.00 643.28 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 276.60 633.28 Td (Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 269.20 623.28 Td (Commercial) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 349.35 633.28 Td (Consumer) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 353.45 623.28 Td (Markets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.00 643.28 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.65 633.28 Td (Casualty Other) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.60 623.28 Td (Operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.25 643.28 Td (Total Property) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 499.15 633.28 Td (& Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 502.10 623.28 Td (Insurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 608.27 Td (Auto liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.50 608.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.80 608.32 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 608.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.50 608.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.80 608.32 Td (\(93) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.15 608.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.50 608.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 608.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.50 608.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.80 608.27 Td (\(97) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 608.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 593.27 Td (Homeowners) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.15 593.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.80 593.32 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.15 593.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 593.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.80 593.27 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 593.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 578.27 Td (Professional liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.15 578.27 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 578.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 578.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 578.27 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 563.27 Td (Package business) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.80 563.32 Td (\(76) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 563.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 563.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 563.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.80 563.27 Td (\(76) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 563.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 548.27 Td (General liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.80 548.32 Td (\(40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 548.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 548.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 548.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.80 548.27 Td (\(40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 548.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 533.27 Td (Fidelity and surety) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.80 533.32 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 533.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 533.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 533.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.80 533.27 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 533.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 518.27 Td (Commercial property) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.80 518.32 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 518.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 518.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 518.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.80 518.27 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 518.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 503.27 Td (Net asbestos reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.15 503.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 503.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 503.27 Td (294) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.15 503.27 Td (294) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 488.27 Td (Net environmental reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.15 488.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 488.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 488.27 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 488.27 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 473.27 Td (Workers compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.15 473.27 Td (171) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 473.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 473.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.15 473.27 Td (171) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 459.17 Td (Change in workers compensation discount, including) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 449.17 Td (accretion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.15 450.27 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 450.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 450.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 450.27 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 435.27 Td (Catastrophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.15 435.27 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 435.27 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 435.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 435.27 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 420.27 Td (Other reserve re-estimates, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.15 420.27 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.80 420.32 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.15 420.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.80 420.32 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 420.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.80 420.27 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 420.27 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 406.28 Td (Total prior accident years development) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 260.50 406.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 315.15 406.28 Td (125) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 336.50 406.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 392.80 406.33 Td (\(75) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 406.15 406.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.50 406.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.15 406.28 Td (317) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.50 406.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 543.15 406.28 Td (367) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 384.10 Td (During ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.33 384.10 Td (201) Tj ET Q q 0 0 0 rg BT 76.96 384.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 81.96 384.10 Td (, the Company) Tj ET Q q 0 0 0 rg BT 143.34 384.10 Td (s re-estimates of prior accident years reserves included the following significant reserve changes:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 366.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 366.10 Td (Released reserves for personal auto liability claims, primarily for accident years 2006 through 2010. Favorable trends in reported ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 354.10 Td (severity have persisted or improved over this time period. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 336.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 336.10 Td (Strengthened reserves in professional liability for accident years 2007 through 2008, primarily in the directors and of) Tj ET Q q 0 0 0 rg BT 524.59 336.10 Td (ficers ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 324.10 Td (\(D&O\) line of business. Detailed reviews of claims involving the sub-prime mortgage market collapse, and shareholder class ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 312.10 Td (action lawsuits, resulted in a higher estimate of future claim costs for these exposures.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 294.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 294.10 Td (Released reserves in package business liability coverages and general liability) Tj ET Q q 0 0 0 rg BT 368.03 294.10 Td (, in accident years 2005 through 2009. ) Tj ET Q q 0 0 0 rg BT 523.28 294.10 Td (As these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 282.10 Td (accident years developed, claim severity has emer) Tj ET Q q 0 0 0 rg BT 256.85 282.10 Td (ged lower than expected.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 264.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 264.10 Td (Strengthened reserves in workers) Tj ET Q q 0 0 0 rg BT 192.45 264.10 Td ( compensation in accident years 2008 through 2010. ) Tj ET Q q 0 0 0 rg BT 403.24 264.10 Td (Accident year 2010 loss costs trends were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 252.10 Td (higher than expected as an increase in frequency outpaced a moderation of severity trends. Strengthening in accident years 2009 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 240.10 Td (and 2008 was the result of higher than expected loss emer) Tj ET Q q 0 0 0 rg BT 288.27 240.10 Td (gence for these years. Strengthening in more recent years is partially ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 228.10 Td (of) Tj ET Q q 0 0 0 rg BT 65.00 228.10 Td (fset by releases in accident years 2007 and prior) Tj ET Q q 0 0 0 rg BT 256.60 228.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 210.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 210.10 Td (Strengthened prior year catastrophe reserves, primarily related to a severe wind and hail storm in ) Tj ET Q q 0 0 0 rg BT 446.16 210.10 Td (Arizona during the fourth quarter ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 198.10 Td (of 2010. Severity of property damage associated with this event increased more than expected.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 180.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 180.10 Td (Refer to the Property & Casualty Other Operations Claims section for discussion concerning the Company) Tj ET Q q 0 0 0 rg BT 486.21 180.10 Td (s annual evaluations of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 168.10 Td (net environmental and net asbestos reserves, and related reinsurance.) Tj ET Q endstream endobj 111 0 obj <> endobj 112 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (55) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 41.87 713.25 Td (operty ) Tj ET Q q 0 0 0 rg BT 72.13 713.25 Td (& ) Tj ET Q q 0 0 0 rg BT 82.96 713.25 Td (Casualty ) Tj ET Q q 0 0 0 rg BT 123.25 713.25 Td (Other) Tj ET Q q 0 0 0 rg BT 148.61 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 151.11 713.25 Td (Operations ) Tj ET Q q 0 0 0 rg BT 201.39 713.25 Td (Claims) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Reserve ) Tj ET Q q 0 0 0 rg BT 65.84 695.25 Td (Activity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.25 Td (Reserves and reserve activity in Property & Casualty Other Operations are categorized and reported as asbestos, environmental, or all ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (other. ) Tj ET Q q 0 0 0 rg BT 61.30 665.25 Td (The all other category of reserves covers a wide range of insurance and assumed reinsurance coverages, including, but not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (limited to, potential liability for construction defects, lead paint, silica, pharmaceutical products, molestation and other long-tail ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (liabilities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (The following table presents reserve activity) Tj ET Q q 0 0 0 rg BT 208.84 623.25 Td (, inclusive of estimates for both reported and incurred but not reported claims, net of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (reinsurance, for Property & Casualty Other Operations, categorized by asbestos, environmental and all other claims, for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 599.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.08 599.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.08 599.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.52 599.25 Td (201) Tj ET Q q 0 0 0 rg BT 169.15 599.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.15 599.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 139.60 581.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 149.97 581.25 Td (operty & Casualty Other) Tj ET Q q 0 0 0 rg BT 256.71 581.25 Td ( Operations Losses and Loss ) Tj ET Q q 0 0 0 rg BT 379.80 581.25 Td (Adjustment Expenses) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 550.75 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 550.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 550.75 20.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 550.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 550.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 550.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 520.75 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 520.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 520.75 20.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 520.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 520.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 520.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 490.75 260.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 490.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 490.75 20.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 490.75 75.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 490.75 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 490.75 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 461.75 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 461.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 461.75 20.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 461.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 461.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 461.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 431.75 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 431.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 431.75 20.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 431.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 431.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 431.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 401.75 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 401.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 401.75 20.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 401.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 401.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 401.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 371.75 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 371.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 371.75 20.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 371.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 371.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 371.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 341.75 260.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 292.00 341.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.00 341.75 20.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 341.75 75.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 341.75 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 341.75 46.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 292 550.75 m 348 550.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 348 550.75 m 368 550.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 368 550.75 m 443 550.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443 550.75 m 504 550.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 550.75 m 550 550.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 490.75 m 292 490.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 292 490.75 m 348 490.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 348 490.75 m 368 490.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 368 490.75 m 443 490.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443 490.75 m 504 490.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 490.75 m 550 490.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 476.75 m 292 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 476.75 m 348 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348 476.75 m 368 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 476.75 m 443 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 476.75 m 504 476.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 476.75 m 550 476.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 416.75 m 292 416.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 292 416.75 m 348 416.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 348 416.75 m 368 416.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 368 416.75 m 443 416.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443 416.75 m 504 416.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 416.75 m 550 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 401.75 m 292 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 401.75 m 348 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348 401.75 m 368 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 401.75 m 443 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 401.75 m 504 401.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 401.75 m 550 401.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 341.75 m 292 341.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 292 341.75 m 348 341.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 348 341.75 m 368 341.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 368 341.75 m 443 341.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443 341.75 m 504 341.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 504 341.75 m 550 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 326.75 m 292 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 326.75 m 348 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348 326.75 m 368 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 326.75 m 443 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 326.75 m 504 326.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 326.75 m 550 326.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 302.70 555.20 Td (Asbestos) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 376.05 555.20 Td (Environmental) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.30 555.20 Td (All Other [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.65 555.20 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 540.43 Td (2013) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 294.50 540.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 350.50 540.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 370.50 540.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.50 540.21 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 506.50 540.21 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 525.42 Td (Beginning liability net [2] [3]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.50 525.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.65 525.43 Td (1,776) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.50 525.42 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.50 525.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 424.15 525.43 Td (290) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 445.50 525.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 477.65 525.43 Td (1,058) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.50 525.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.65 525.43 Td (3,124) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 510.42 Td (Losses and loss adjustment expenses incurred) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.15 510.42 Td (130) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.50 510.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 510.42 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.15 510.42 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 510.42 Td (148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 495.42 Td (Less: Losses and loss adjustment expenses paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.15 495.42 Td (192) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 495.42 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.15 495.42 Td (74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 495.42 Td (298) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 481.43 Td (Ending liability net [2] [3]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.50 481.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.65 481.43 Td (1,714) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.50 481.43 Td ([4]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.50 481.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 424.15 481.43 Td (270) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 445.50 481.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 485.15 481.43 Td (990) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.50 481.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.65 481.43 Td (2,974) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 466.43 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.50 466.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.50 466.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.50 466.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.50 466.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.50 466.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 451.42 Td (Beginning liability net [2] [3]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.50 451.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.65 451.43 Td (1,892) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.50 451.42 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.50 451.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 424.15 451.43 Td (320) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 445.50 451.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 477.65 451.43 Td (1,159) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.50 451.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.65 451.43 Td (3,371) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 436.42 Td (Losses and loss adjustment expenses incurred) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.15 436.42 Td (48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.50 436.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 436.42 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.15 436.42 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.15 436.42 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 421.42 Td (Less: Losses and loss adjustment expenses paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.15 421.42 Td (164) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 421.42 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.15 421.42 Td (108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 421.42 Td (312) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 406.43 Td (Ending liability net [2] [3]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.50 406.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.65 406.43 Td (1,776) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.50 406.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 424.15 406.43 Td (290) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 445.50 406.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 477.65 406.43 Td (1,058) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.50 406.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.65 406.43 Td (3,124) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 391.43 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.50 391.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.50 391.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.50 391.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.50 391.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.50 391.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 376.42 Td (Beginning liability net [2] [3]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.50 376.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.65 376.43 Td (1,787) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.50 376.43 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.50 376.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 424.15 376.43 Td (334) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 445.50 376.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 477.65 376.43 Td (1,302) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.50 376.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.65 376.43 Td (3,423) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 361.42 Td (Losses and loss adjustment expenses incurred) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.15 361.42 Td (294) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.50 361.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 361.42 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.80 361.47 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 361.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 361.42 Td (317) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 346.42 Td (Less: Losses and loss adjustment expenses paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.15 346.42 Td (189) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 346.42 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.15 346.42 Td (140) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 346.42 Td (369) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 331.43 Td (Ending liability net [2] [3]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.50 331.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.65 331.43 Td (1,892) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.50 331.42 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.50 331.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 424.15 331.43 Td (320) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 445.50 331.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 477.65 331.43 Td (1,159) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.50 331.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.65 331.43 Td (3,371) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 310.45 Td ([1] ) Tj ET Q q 0 0 0 rg BT 54.00 310.45 Td (All Other includes unallocated loss adjustment expense r) Tj ET Q q 0 0 0 rg BT 268.89 310.45 Td (eserves. All Other also includes the Company) Tj ET Q q 0 0 0 rg BT 444.96 310.45 Td (s allowance for uncollectible ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 299.65 Td (r) Tj ET Q q 0 0 0 rg BT 57.17 299.65 Td (einsurance. When the Company commutes a ceded r) Tj ET Q q 0 0 0 rg BT 245.29 299.65 Td (einsurance contract or settles a ceded r) Tj ET Q q 0 0 0 rg BT 387.42 299.65 Td (einsurance dispute, the portion of the allowance for ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 288.85 Td (uncollectible r) Tj ET Q q 0 0 0 rg BT 105.90 288.85 Td (einsurance attributable to that commutation or settlement, if any) Tj ET Q q 0 0 0 rg BT 338.12 288.85 Td (, is r) Tj ET Q q 0 0 0 rg BT 354.05 288.85 Td (eclassified to the appr) Tj ET Q q 0 0 0 rg BT 433.45 288.85 Td (opriate cause of loss.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 278.05 Td ([2] ) Tj ET Q q 0 0 0 rg BT 54.00 278.05 Td (Excludes amounts r) Tj ET Q q 0 0 0 rg BT 124.66 278.05 Td (eported in Pr) Tj ET Q q 0 0 0 rg BT 172.31 278.05 Td (operty & Casualty Commer) Tj ET Q q 0 0 0 rg BT 271.72 278.05 Td (cial and Consumer Markets r) Tj ET Q q 0 0 0 rg BT 377.38 278.05 Td (eporting segments \(collectively Ongoing ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 267.25 Td (Operations\) for asbestos and envir) Tj ET Q q 0 0 0 rg BT 184.17 267.25 Td (onmental net liabilities of $18 and $5 r) Tj ET Q q 0 0 0 rg BT 324.58 267.25 Td (espectively) Tj ET Q q 0 0 0 rg BT 363.55 267.25 Td (, as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 387.55 267.25 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 458.28 267.25 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 462.78 267.25 Td ($15) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 476.28 267.25 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 494.28 267.25 Td ($7) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 503.28 267.25 Td (, r) Tj ET Q q 0 0 0 rg BT 510.95 267.25 Td (espectively) Tj ET Q q 0 0 0 rg BT 549.93 267.25 Td (, as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 256.45 Td (December31, 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 124.73 256.45 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 144.98 256.45 Td ($15) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 158.48 256.45 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 176.48 256.45 Td ($8) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 185.48 256.45 Td (, r) Tj ET Q q 0 0 0 rg BT 193.15 256.45 Td (espectively) Tj ET Q q 0 0 0 rg BT 232.12 256.45 Td (, as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 256.13 256.45 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 321.69 256.45 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 326.19 256.45 Td (; total net losses and loss adjustment expenses incurr) Tj ET Q q 0 0 0 rg BT 517.34 256.45 Td (ed for the years ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 245.65 Td (ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 77.74 245.65 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 148.47 245.65 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 152.97 245.65 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 170.97 245.65 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 188.97 245.65 Td (201) Tj ET Q q 0 0 0 rg BT 201.80 245.65 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 206.30 245.65 Td ( of $15, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 235.80 245.65 Td ($13) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 249.30 245.65 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 267.30 245.65 Td ($27) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 280.80 245.65 Td (, r) Tj ET Q q 0 0 0 rg BT 288.47 245.65 Td (espectively) Tj ET Q q 0 0 0 rg BT 327.45 245.65 Td (, r) Tj ET Q q 0 0 0 rg BT 335.11 245.65 Td (elated to asbestos and envir) Tj ET Q q 0 0 0 rg BT 435.27 245.65 Td (onmental claims; and total net losses ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 234.85 Td (and loss adjustment expenses paid for the years ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 251.72 234.85 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 322.45 234.85 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 326.95 234.85 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 344.95 234.85 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 362.95 234.85 Td (201) Tj ET Q q 0 0 0 rg BT 375.78 234.85 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 380.28 234.85 Td ( of $14, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 409.78 234.85 Td ($15) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 423.28 234.85 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 441.28 234.85 Td ($20) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 454.78 234.85 Td (, r) Tj ET Q q 0 0 0 rg BT 462.45 234.85 Td (espectively) Tj ET Q q 0 0 0 rg BT 501.42 234.85 Td (, r) Tj ET Q q 0 0 0 rg BT 509.09 234.85 Td (elated to asbestos ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 224.05 Td (and envir) Tj ET Q q 0 0 0 rg BT 87.91 224.05 Td (onmental claims.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 213.25 Td ([3] ) Tj ET Q q 0 0 0 rg BT 54.00 213.25 Td (Gr) Tj ET Q q 0 0 0 rg BT 63.67 213.25 Td (oss of r) Tj ET Q q 0 0 0 rg BT 89.84 213.25 Td (einsurance, asbestos and envir) Tj ET Q q 0 0 0 rg BT 200.49 213.25 Td (onmental r) Tj ET Q q 0 0 0 rg BT 239.41 213.25 Td (eserves, including liabilities in Pr) Tj ET Q q 0 0 0 rg BT 360.80 213.25 Td (operty & Casualty Commer) Tj ET Q q 0 0 0 rg BT 460.21 213.25 Td (cial and Consumer Markets, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 202.45 Td (wer) Tj ET Q q 0 0 0 rg BT 67.17 202.45 Td (e $2,182 and $31) Tj ET Q q 0 0 0 rg BT 128.99 202.45 Td (1, r) Tj ET Q q 0 0 0 rg BT 141.16 202.45 Td (espectively) Tj ET Q q 0 0 0 rg BT 180.14 202.45 Td (, as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 204.14 202.45 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 274.87 202.45 Td (; ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 280.12 202.45 Td ($2,294) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 304.87 202.45 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 322.87 202.45 Td ($334) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 340.87 202.45 Td (, r) Tj ET Q q 0 0 0 rg BT 348.53 202.45 Td (espectively) Tj ET Q q 0 0 0 rg BT 387.51 202.45 Td (, as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 411.51 202.45 Td (December31, 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 482.24 202.45 Td (; and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 503.24 202.45 Td ($2,442) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 527.99 202.45 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 545.99 202.45 Td ($367) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 563.99 202.45 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 191.65 Td (r) Tj ET Q q 0 0 0 rg BT 57.17 191.65 Td (espectively) Tj ET Q q 0 0 0 rg BT 96.14 191.65 Td (, as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 120.15 191.65 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 185.71 191.65 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 190.21 191.65 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 180.85 Td ([4] ) Tj ET Q q 0 0 0 rg BT 54.00 180.85 Td (The one year and average thr) Tj ET Q q 0 0 0 rg BT 160.39 180.85 Td (ee year net paid amounts for asbestos claims, including Ongoing Operations, wer) Tj ET Q q 0 0 0 rg BT 454.79 180.85 Td (e $201 and $191, r) Tj ET Q q 0 0 0 rg BT 522.70 180.85 Td (espectively) Tj ET Q q 0 0 0 rg BT 561.67 180.85 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 170.05 Td (r) Tj ET Q q 0 0 0 rg BT 57.17 170.05 Td (esulting in a one year net survival ratio of 8.6 and a thr) Tj ET Q q 0 0 0 rg BT 257.07 170.05 Td (ee year net survival ratio of 9.1. Net survival ratio is the quotient of the net carried ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 159.25 Td (r) Tj ET Q q 0 0 0 rg BT 57.17 159.25 Td (eserves divided by the average annual payment amount and is an indication of the number of years that the net carried r) Tj ET Q q 0 0 0 rg BT 491.00 159.25 Td (eserve would last \(i.e., ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 148.45 Td (survive\) if the futur) Tj ET Q q 0 0 0 rg BT 122.90 148.45 Td (e annual claim payments wer) Tj ET Q q 0 0 0 rg BT 228.05 148.45 Td (e consistent with the calculated historical average.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 118.45 Td (For paid and incurred losses and loss adjustment expenses reporting, the Company classifies its asbestos and environmental reserves into ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 106.45 Td (three categories: Direct, ) Tj ET Q q 0 0 0 rg BT 129.23 106.45 Td (Assumed Reinsurance and London Market. Direct insurance includes primary and excess coverage. ) Tj ET Q q 0 0 0 rg BT 529.65 106.45 Td (Assumed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 94.45 Td (reinsurance includes both treaty reinsurance \(covering broad categories of claims or blocks of business\) and facultative reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 82.45 Td (\(covering specific risks or individual policies of primary or excess insurance companies\). London Market business includes the business ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 70.45 Td (written by one or more of the Company) Tj ET Q q 0 0 0 rg BT 192.85 70.45 Td (s subsidiaries in the United Kingdom, which are no longer active in the insurance or reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 58.45 Td (business. Such business includes both direct insurance and assumed reinsurance.) Tj ET Q endstream endobj 113 0 obj <> endobj 114 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Of the three categories of claims \(Direct, ) Tj ET Q q 0 0 0 rg BT 196.98 713.10 Td (Assumed Reinsurance and London Market\), direct policies tend to have the greatest factual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (development from which to estimate the Company) Tj ET Q q 0 0 0 rg BT 237.01 701.10 Td (s exposures.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (Assumed reinsurance exposures are inherently less predictable than direct insurance exposures because the Company may not receive ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (notice of a reinsurance claim until the underlying direct insurance claim is mature. ) Tj ET Q q 0 0 0 rg BT 363.42 671.10 Td (This causes a delay in the receipt of information at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (the reinsurer level and adds to the uncertainty of estimating related reserves.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (London Market exposures are the most uncertain of the three categories of claims. ) Tj ET Q q 0 0 0 rg BT 362.50 641.10 Td (As a participant in the London Market \(comprised of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (both Lloyd) Tj ET Q q 0 0 0 rg BT 78.44 629.10 Td (s of London and London Market companies\), certain subsidiaries of the Company wrote business on a subscription basis, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (with those subsidiaries) Tj ET Q q 0 0 0 rg BT 125.19 617.10 Td ( involvement being limited to a relatively small percentage of a total contract placement. Claims are reported, via ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (a broker) Tj ET Q q 0 0 0 rg BT 64.14 605.10 Td (, to the lead underwriter and, once agreed to, are presented to the following markets for concurrence. ) Tj ET Q q 0 0 0 rg BT 477.94 605.10 Td (This reporting and claim ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (agreement process makes estimating liabilities for this business the most uncertain of the three categories of claims.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (The following table sets forth, for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.16 575.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 314.74 575.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 319.74 575.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.74 575.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.18 575.10 Td (201) Tj ET Q q 0 0 0 rg BT 373.81 575.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.81 575.10 Td (, paid and incurred loss activity by the three ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (categories of claims for asbestos and environmental.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 66.25 545.10 Td (Paid and Incurr) Tj ET Q q 0 0 0 rg BT 134.97 545.10 Td (ed Losses and Loss ) Tj ET Q q 0 0 0 rg BT 217.78 545.10 Td (Adjustment Expenses \(LAE\) Development ) Tj ET Q q 0 0 0 rg BT 423.06 545.10 Td (Asbestos and Envir) Tj ET Q q 0 0 0 rg BT 505.67 545.10 Td (onmental) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 489.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 489.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 489.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 489.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 489.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 459.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 459.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 459.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 459.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 459.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 429.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 429.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 429.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 429.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 429.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 399.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 399.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 399.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 399.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 399.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 370.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 370.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 370.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 370.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 370.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 340.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 340.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 340.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 340.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 340.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 310.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 310.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 310.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 310.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 310.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 280.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 280.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 280.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 280.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 280.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 251.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 251.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 251.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 251.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 251.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 221.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 221.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 221.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 221.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 221.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 191.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 191.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 191.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 191.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 191.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 161.60 248.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 161.60 77.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 161.60 71.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 161.60 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 161.60 77.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280 513.6 m 357 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 513.6 m 428 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428 513.6 m 501 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 513.6 m 578 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 489.6 m 280 489.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280 489.6 m 357 489.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 489.6 m 428 489.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428 489.6 m 501 489.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 489.6 m 578 489.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 414.6 m 280 414.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280 414.6 m 357 414.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 414.6 m 428 414.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428 414.6 m 501 414.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 414.6 m 578 414.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 384.6 m 280 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280 384.6 m 357 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 384.6 m 428 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428 384.6 m 501 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 384.6 m 578 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 370.6 m 280 370.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 370.6 m 357 370.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 370.6 m 428 370.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 370.6 m 501 370.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 370.6 m 578 370.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 295.6 m 280 295.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280 295.6 m 357 295.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 295.6 m 428 295.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428 295.6 m 501 295.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 295.6 m 578 295.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 265.6 m 280 265.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280 265.6 m 357 265.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 265.6 m 428 265.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428 265.6 m 501 265.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 265.6 m 578 265.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 251.60000000000002 m 280 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 251.60000000000002 m 357 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 251.60000000000002 m 428 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 251.60000000000002 m 501 251.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 251.60000000000002 m 578 251.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 176.60000000000002 m 280 176.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280 176.60000000000002 m 357 176.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 176.60000000000002 m 428 176.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428 176.60000000000002 m 501 176.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 176.60000000000002 m 578 176.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 146.60000000000002 m 280 146.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280 146.60000000000002 m 357 146.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 146.60000000000002 m 428 146.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 428 146.60000000000002 m 501 146.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 146.60000000000002 m 578 146.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 132.60000000000002 m 280 132.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 132.60000000000002 m 357 132.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 132.60000000000002 m 428 132.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 132.60000000000002 m 501 132.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 132.60000000000002 m 578 132.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 518.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 327.80 518.28 Td (Asbestos [1]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.25 518.28 Td (Environmental [1]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.70 504.28 Td (Paid Losses &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.70 494.28 Td (LAE) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.90 504.28 Td (Incurred) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 361.15 494.28 Td (Losses & LAE) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.70 504.28 Td (Paid Losses &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 453.70 494.28 Td (LAE) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.75 504.28 Td (Incurred Losses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.30 494.28 Td (& LAE) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 479.28 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.50 479.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.50 479.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 479.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 479.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 464.27 Td (Gross) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.50 464.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.50 464.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 464.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 464.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 449.27 Td (Direct) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.50 449.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.15 449.27 Td (159) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.50 449.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 449.27 Td (72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 449.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 449.27 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 449.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.15 449.27 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 434.27 Td (Assumed Reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.15 434.27 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 434.27 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 434.27 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.15 434.27 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 419.27 Td (London Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.15 419.27 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.15 419.27 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 419.27 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 419.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 404.27 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.15 404.27 Td (243) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 404.27 Td (130) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 404.27 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 404.27 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 389.27 Td (Ceded) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.80 389.32 Td (\(51) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.15 389.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 389.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.80 389.32 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 389.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 389.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 375.28 Td (Net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 282.50 375.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 338.15 375.28 Td (192) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.50 375.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.15 375.28 Td (130) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.50 375.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.15 375.28 Td (32) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.50 375.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 564.15 375.28 Td (12) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 360.28 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.50 360.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.50 360.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 360.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 360.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 345.27 Td (Gross) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.50 345.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.50 345.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 345.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 345.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 330.27 Td (Direct) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.50 330.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.15 330.27 Td (153) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.50 330.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 330.27 Td (55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 330.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 330.27 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 330.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.15 330.27 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 315.27 Td (Assumed Reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.15 315.27 Td (51) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 315.27 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 315.27 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 315.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 300.27 Td (London Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.15 300.27 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.15 300.27 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 300.27 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.15 300.27 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 285.27 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.15 285.27 Td (221) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 285.27 Td (74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 285.27 Td (43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 285.27 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 270.27 Td (Ceded) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.80 270.32 Td (\(57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.15 270.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.80 270.32 Td (\(26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.15 270.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.80 270.32 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 270.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.80 270.27 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 270.27 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 256.28 Td (Net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 282.50 256.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 338.15 256.28 Td (164) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.50 256.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.15 256.28 Td (48) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.50 256.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.15 256.28 Td (40) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.50 256.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 564.15 256.28 Td (10) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 241.28 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.50 241.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.50 241.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 241.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 241.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 226.27 Td (Gross) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.50 226.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.50 226.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 226.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 226.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 211.27 Td (Direct) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.50 211.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.15 211.27 Td (170) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.50 211.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 211.27 Td (350) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 211.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 211.27 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 211.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 211.27 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 196.27 Td (Assumed Reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.15 196.27 Td (55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 196.27 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 196.27 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 196.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 181.27 Td (London Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.15 181.27 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 181.27 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 181.27 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.15 181.27 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 166.27 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.15 166.27 Td (248) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 166.27 Td (378) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 166.27 Td (46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 166.27 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 151.27 Td (Ceded) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.80 151.32 Td (\(59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.15 151.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.80 151.32 Td (\(84) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.15 151.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.80 151.32 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 151.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.80 151.27 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 151.27 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 137.28 Td (Net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 282.50 137.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 338.15 137.28 Td (189) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.50 137.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.15 137.28 Td (294) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.50 137.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.15 137.28 Td (40) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.50 137.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 564.15 137.28 Td (26) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 116.30 Td ([1] ) Tj ET Q q 0 0 0 rg BT 54.00 116.30 Td (Excludes asbestos and envir) Tj ET Q q 0 0 0 rg BT 155.40 116.30 Td (onmental paid and incurr) Tj ET Q q 0 0 0 rg BT 247.31 116.30 Td (ed loss and LAE r) Tj ET Q q 0 0 0 rg BT 311.48 116.30 Td (eported in Ongoing Operations. T) Tj ET Q q 0 0 0 rg BT 433.40 116.30 Td (otal gr) Tj ET Q q 0 0 0 rg BT 457.32 116.30 Td (oss losses and LAE incurr) Tj ET Q q 0 0 0 rg BT 550.99 116.30 Td (ed in ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 105.50 Td (Ongoing Operations for the years ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 201.98 105.50 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 272.71 105.50 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 277.21 105.50 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 295.21 105.50 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 313.21 105.50 Td (201) Tj ET Q q 0 0 0 rg BT 326.04 105.50 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 330.54 105.50 Td ( includes $15, $13 and $30, r) Tj ET Q q 0 0 0 rg BT 435.70 105.50 Td (espectively) Tj ET Q q 0 0 0 rg BT 474.68 105.50 Td (, r) Tj ET Q q 0 0 0 rg BT 482.35 105.50 Td (elated to asbestos and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 94.70 Td (envir) Tj ET Q q 0 0 0 rg BT 72.16 94.70 Td (onmental claims. T) Tj ET Q q 0 0 0 rg BT 140.08 94.70 Td (otal gr) Tj ET Q q 0 0 0 rg BT 164.00 94.70 Td (oss losses and LAE paid in Ongoing Operations for the years ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 410.99 94.70 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 481.72 94.70 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 486.22 94.70 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 504.22 94.70 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 522.22 94.70 Td (201) Tj ET Q q 0 0 0 rg BT 535.05 94.70 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 539.55 94.70 Td ( includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 83.90 Td ($14, $15 and $22, r) Tj ET Q q 0 0 0 rg BT 124.67 83.90 Td (espectively) Tj ET Q q 0 0 0 rg BT 163.64 83.90 Td (, r) Tj ET Q q 0 0 0 rg BT 171.31 83.90 Td (elated to asbestos and envir) Tj ET Q q 0 0 0 rg BT 271.46 83.90 Td (onmental claims. ) Tj ET Q endstream endobj 115 0 obj <> endobj 116 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (In the fourth quarters of 2013, 2012 and 201) Tj ET Q q 0 0 0 rg BT 208.59 713.10 Td (1, the Company completed evaluations of certain of its non-asbestos and environmental ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (reserves in Property & Casualty Other Operations, including its assumed reinsurance liabilities and in 2013, 2012, and 201) Tj ET Q q 0 0 0 rg BT 522.14 701.10 Td (1, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (Company recognized no prior year development on these reserves. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (During the second quarters of 2013 and 2012 and the third quarter of 201) Tj ET Q q 0 0 0 rg BT 324.11 671.10 Td (1, the Company completed its annual ground up environmental ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (reserve evaluations. In each of these evaluations, the Company reviewed all of its open direct domestic insurance accounts exposed to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (environmental liability as well as assumed reinsurance accounts and its London Market exposures for both direct and assumed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (reinsurance. ) Tj ET Q q 0 0 0 rg BT 84.90 635.10 Td (The Company found estimates for some individual account exposures increased based upon unfavorable litigation results ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (and increased clean-up or expense costs, with the vast majority of this deterioration emanating from a limited number of insureds. ) Tj ET Q q 0 0 0 rg BT 553.39 623.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (net ef) Tj ET Q q 0 0 0 rg BT 53.80 611.10 Td (fect of these account-specific changes as well as quarterly actuarial evaluations of new account emer) Tj ET Q q 0 0 0 rg BT 456.21 611.10 Td (gence and historical loss and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (expense paid experience resulted in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.16 599.10 Td ($12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.16 599.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.16 599.10 Td ($10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 211.16 599.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.60 599.10 Td ($19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 599.10 Td ( increases in net environmental liabilities in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.49 599.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.49 599.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.49 599.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.49 599.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.93 599.10 Td (201) Tj ET Q q 0 0 0 rg BT 501.56 599.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.56 599.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 559.22 599.10 Td (. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (addition to the quarterly actuarial evaluations, the Company currently expects to continue to perform an evaluation of its environmental ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (liabilities annually) Tj ET Q q 0 0 0 rg BT 105.00 575.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (During the second quarters of 2013, 2012 and 201) Tj ET Q q 0 0 0 rg BT 234.42 557.10 Td (1, the Company completed its annual ground-up asbestos reserve evaluations. ) Tj ET Q q 0 0 0 rg BT 547.13 557.10 Td (As part ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (of these evaluations, the Company reviewed all of its open direct domestic insurance accounts exposed to asbestos liability) Tj ET Q q 0 0 0 rg BT 522.38 545.10 Td (, as well as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (assumed reinsurance accounts and its London Market exposures for both direct insurance and assumed reinsurance. During 2013, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (Company found estimates for individual cases changed based upon the particular circumstances in such accounts. ) Tj ET Q q 0 0 0 rg BT 488.40 521.10 Td (These cases were case ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (specific and not as a result of any underlying change in current environment. ) Tj ET Q q 0 0 0 rg BT 340.66 509.10 Td (The Company experiencedmoderateincreases in claim ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (frequency and severity as well as expense and costs associated with litigating asbestos coverage matters, particularly against certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (smaller) Tj ET Q q 0 0 0 rg BT 60.53 485.10 Td (, more peripheral insureds. ) Tj ET Q q 0 0 0 rg BT 169.76 485.10 Td (The Company also experienced unfavorable development on certain of its assumed reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (accounts driven lar) Tj ET Q q 0 0 0 rg BT 107.40 473.10 Td (gely by the same factors experience by the direct policyholders. Based on this evaluation, the Company strengthened ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (its net asbestos reserves by $130 in second quarter 2013. During 2012, the Company found estimates for individual cases changed based ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (upon the particular circumstances of such accounts. ) Tj ET Q q 0 0 0 rg BT 240.13 449.10 Td (These changes were case specific and not as a result of any underlying change in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (current environment. ) Tj ET Q q 0 0 0 rg BT 120.18 437.10 Td (The Company experienced moderate increases in claim severity) Tj ET Q q 0 0 0 rg BT 375.25 437.10 Td (, expense and costs associated with litigating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (asbestos coverage matters, particularly against certain smaller) Tj ET Q q 0 0 0 rg BT 278.50 425.10 Td (, more peripheral insureds. ) Tj ET Q q 0 0 0 rg BT 387.73 425.10 Td (The Company also experienced unfavorable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (development on certain of its assumed reinsurance accounts driven lar) Tj ET Q q 0 0 0 rg BT 312.05 413.10 Td (gely by the same factors experienced by direct policy holders. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (Based on this evaluation, the Company strengthened its net asbestos reserves by $48 in second quarter 2012. During 201) Tj ET Q q 0 0 0 rg BT 518.81 401.10 Td (1, for certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.10 Td (direct policyholders, the Company experienced increases in claim frequency) Tj ET Q q 0 0 0 rg BT 336.56 389.10 Td (, severity and expense which were driven by mesothelioma ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.10 Td (claims, particularly against certain smaller) Tj ET Q q 0 0 0 rg BT 200.75 377.10 Td (, more peripheral insureds. ) Tj ET Q q 0 0 0 rg BT 309.98 377.10 Td (The Company also experienced unfavorable development on its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.10 Td (assumed reinsurance accounts driven lar) Tj ET Q q 0 0 0 rg BT 192.92 365.10 Td (gely by the same factors experienced by the direct policyholders. Based on this evaluation, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (Company strengthened its net asbestos reserves by $290 in second quarter 201) Tj ET Q q 0 0 0 rg BT 345.23 353.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 355.04 353.10 Td (The Company currently expects to continue to perform ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (an evaluation of its asbestos liabilities annually) Tj ET Q q 0 0 0 rg BT 219.70 341.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.10 Td (The Company divides its gross asbestos and environmental exposures into Direct, ) Tj ET Q q 0 0 0 rg BT 360.89 323.10 Td (Assumed Reinsurance and London Market. Direct ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (asbestos exposures include Major ) Tj ET Q q 0 0 0 rg BT 168.14 311.10 Td (Asbestos Defendants, Non-Major ) Tj ET Q q 0 0 0 rg BT 304.23 311.10 Td (Accounts, and Unallocated Direct ) Tj ET Q q 0 0 0 rg BT 441.68 311.10 Td (Accounts. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 293.10 Td (Major ) Tj ET Q q 0 0 0 rg BT 93.89 293.10 Td (Asbestos Defendants represent the T) Tj ET Q q 0 0 0 rg BT 244.25 293.10 Td (op 70 accounts in ) Tj ET Q q 0 0 0 rg BT 321.27 293.10 Td (T) Tj ET Q q 0 0 0 rg BT 327.03 293.10 Td (illinghast's published ) Tj ET Q q 0 0 0 rg BT 413.65 293.10 Td (T) Tj ET Q q 0 0 0 rg BT 419.40 293.10 Td (iers 1 and 2 and ) Tj ET Q q 0 0 0 rg BT 485.04 293.10 Td (W) Tj ET Q q 0 0 0 rg BT 493.68 293.10 Td (ellington accounts. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 281.10 Td (Major ) Tj ET Q q 0 0 0 rg BT 93.89 281.10 Td (Asbestos Defendants have the fewest number of asbestos accounts and include reserves related to PPG Industries, Inc. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 269.10 Td (\(PPG\). In January 2009, the Company) Tj ET Q q 0 0 0 rg BT 231.26 269.10 Td (, along with approximately three dozen other insurers, entered into a modified ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 257.10 Td (agreement in principle with PPG to resolve the Company's coverage obligations for all its PPG asbestos liabilities. ) Tj ET Q q 0 0 0 rg BT 529.88 257.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 245.10 Td (agreement is contingent on the fulfillment of certain conditions. Major ) Tj ET Q q 0 0 0 rg BT 354.09 245.10 Td (Asbestos Defendants gross asbestos reserves accounted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 233.10 Td (for approximately 29% of the Company's total Direct gross asbestos reserves as of June 30, 2013.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 221.10 Td (Non-Major ) Tj ET Q q 0 0 0 rg BT 114.44 221.10 Td (Accounts are all other open direct asbestos accounts and lar) Tj ET Q q 0 0 0 rg BT 352.78 221.10 Td (gely represent smaller and more peripheral defendants. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 209.10 Td (These exposures represented 1,125 accounts and contained approximately 44% of the Company's total Direct gross asbestos ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 197.10 Td (reserves as of June 30, 2013. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 185.10 Td (Unallocated Direct ) Tj ET Q q 0 0 0 rg BT 145.24 185.10 Td (Accounts includes an estimate of the reserves necessary for asbestos claims related to direct insureds that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 173.10 Td (have not previously tendered asbestos claims to the Company and exposures related to liability claims that may not be subject ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 161.10 Td (to an aggregate limit under the applicable policies. ) Tj ET Q endstream endobj 117 0 obj <> endobj 118 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 695.10 Td (following ) Tj ET Q q 0 0 0 rg BT 90.93 695.10 Td (table ) Tj ET Q q 0 0 0 rg BT 112.87 695.10 Td (displays ) Tj ET Q q 0 0 0 rg BT 148.15 695.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 171.76 695.10 Td (asbestos ) Tj ET Q q 0 0 0 rg BT 207.59 695.10 Td (and ) Tj ET Q q 0 0 0 rg BT 224.53 695.10 Td (environmental ) Tj ET Q q 0 0 0 rg BT 284.79 695.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 320.04 695.10 Td (by ) Tj ET Q q 0 0 0 rg BT 332.54 695.10 Td (category ) Tj ET Q q 0 0 0 rg BT 369.47 695.10 Td (as ) Tj ET Q q 0 0 0 rg BT 380.30 695.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.13 695.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 449.71 695.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.71 695.10 Td (:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 237.10 677.10 Td (Summary of Gr) Tj ET Q q 0 0 0 rg BT 304.69 677.10 Td (oss ) Tj ET Q q 0 0 0 rg BT 319.42 677.10 Td (A&E Reserves) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 623.60 325.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 623.60 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 623.60 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 623.60 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 623.60 77.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 623.60 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 623.60 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 595.60 325.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 595.60 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 595.60 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 595.60 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 595.60 77.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 595.60 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 595.60 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 567.60 325.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 567.60 9.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 567.60 63.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 567.60 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 567.60 77.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 567.60 10.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 567.60 49.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 637.6 m 357 637.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 637.6 m 366 637.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366 637.6 m 429 637.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 429 637.6 m 439 637.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 439 637.6 m 516 637.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 637.6 m 526 637.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 526 637.6 m 575 637.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 581.6 m 357 581.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 581.6 m 366 581.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366 581.6 m 429 581.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 429 581.6 m 439 581.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 439 581.6 m 516 581.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 581.6 m 526 581.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 526 581.6 m 575 581.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 553.6 m 357 553.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 553.6 m 366 553.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366 553.6 m 429 553.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 429 553.6 m 439 553.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 439 553.6 m 516 553.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 553.6 m 526 553.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 526 553.6 m 575 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 539.6 m 357 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 539.6 m 366 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 539.6 m 429 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 539.6 m 439 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 539.6 m 516 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 539.6 m 526 539.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 539.6 m 575 539.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.85 642.05 Td (Asbestos [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 436.70 642.05 Td (Environmental [2]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.25 642.05 Td (Total A&E) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 628.28 Td (Gr) Tj ET Q q 0 0 0 rg BT 46.63 628.28 Td (oss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 614.17 Td ( ) Tj ET Q q 0 0 0 rg BT 37.00 614.17 Td ( ) Tj ET Q q 0 0 0 rg BT 39.50 614.17 Td ( ) Tj ET Q q 0 0 0 rg BT 42.00 614.17 Td ( ) Tj ET Q q 0 0 0 rg BT 44.50 614.17 Td ( ) Tj ET Q q 0 0 0 rg BT 47.00 614.17 Td (Direct) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.50 614.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.65 614.17 Td (1,637) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 614.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 614.17 Td (229) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 614.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.65 614.17 Td (1,866) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 600.17 Td ( ) Tj ET Q q 0 0 0 rg BT 37.00 600.17 Td ( ) Tj ET Q q 0 0 0 rg BT 39.50 600.17 Td ( ) Tj ET Q q 0 0 0 rg BT 42.00 600.17 Td ( ) Tj ET Q q 0 0 0 rg BT 44.50 600.17 Td ( ) Tj ET Q q 0 0 0 rg BT 46.72 600.17 Td (Assumed ) Tj ET Q q 0 0 0 rg BT 86.17 600.17 Td (Reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 600.17 Td (291) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 600.17 Td (34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 600.17 Td (325) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 586.17 Td ( ) Tj ET Q q 0 0 0 rg BT 37.00 586.17 Td ( ) Tj ET Q q 0 0 0 rg BT 39.50 586.17 Td ( ) Tj ET Q q 0 0 0 rg BT 42.00 586.17 Td ( ) Tj ET Q q 0 0 0 rg BT 44.50 586.17 Td ( ) Tj ET Q q 0 0 0 rg BT 47.00 586.17 Td (London ) Tj ET Q q 0 0 0 rg BT 80.61 586.17 Td (Market) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 586.17 Td (254) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 586.17 Td (48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 586.17 Td (302) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 572.17 Td ( ) Tj ET Q q 0 0 0 rg BT 37.00 572.17 Td ( ) Tj ET Q q 0 0 0 rg BT 39.50 572.17 Td ( ) Tj ET Q q 0 0 0 rg BT 42.00 572.17 Td ( ) Tj ET Q q 0 0 0 rg BT 44.50 572.17 Td ( ) Tj ET Q q 0 0 0 rg BT 46.82 572.17 Td (T) Tj ET Q q 0 0 0 rg BT 52.23 572.17 Td (otal) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 404.90 572.06 Td (2,182) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 498.65 572.06 Td (311) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 550.90 572.06 Td (2,493) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 558.28 Td (Ceded) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 406.80 558.33 Td (\(450) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.15 558.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.80 558.33 Td (\(36) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.15 558.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 552.80 558.28 Td (\(486) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 571.15 558.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 544.28 Td (Net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.50 544.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 402.65 544.28 Td (1,732) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.50 544.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 497.15 544.28 Td (275) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 544.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.65 544.28 Td (2,007) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 523.30 Td ([1] ) Tj ET Q q 0 0 0 rg BT 54.00 523.30 Td (The one year gr) Tj ET Q q 0 0 0 rg BT 110.90 523.30 Td (oss paid amount for total asbestos claims is $253, r) Tj ET Q q 0 0 0 rg BT 296.09 523.30 Td (esulting in a one year gr) Tj ET Q q 0 0 0 rg BT 383.99 523.30 Td (oss survival ratio of 8.6. The thr) Tj ET Q q 0 0 0 rg BT 501.91 523.30 Td (ee year average ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 512.50 Td (gr) Tj ET Q q 0 0 0 rg BT 61.67 512.50 Td (oss paid amount for total asbestos claims is $247, r) Tj ET Q q 0 0 0 rg BT 246.85 512.50 Td (esulting in a thr) Tj ET Q q 0 0 0 rg BT 303.77 512.50 Td (ee year gr) Tj ET Q q 0 0 0 rg BT 339.92 512.50 Td (oss survival ratio of 8.8.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 501.70 Td ([2]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.50 501.70 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 501.70 Td (The one year gr) Tj ET Q q 0 0 0 rg BT 110.90 501.70 Td (oss paid amount for total envir) Tj ET Q q 0 0 0 rg BT 221.82 501.70 Td (onmental claims is $41, r) Tj ET Q q 0 0 0 rg BT 312.74 501.70 Td (esulting in a one year gr) Tj ET Q q 0 0 0 rg BT 400.64 501.70 Td (oss survival ratio of 7.6. The thr) Tj ET Q q 0 0 0 rg BT 518.56 501.70 Td (ee year average ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 490.90 Td (gr) Tj ET Q q 0 0 0 rg BT 61.67 490.90 Td (oss paid amount for total envir) Tj ET Q q 0 0 0 rg BT 172.59 490.90 Td (onmental claims is $50, r) Tj ET Q q 0 0 0 rg BT 263.50 490.90 Td (esulting in a thr) Tj ET Q q 0 0 0 rg BT 320.42 490.90 Td (ee year gr) Tj ET Q q 0 0 0 rg BT 356.57 490.90 Td (oss survival ratio of 6.3.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 460.90 Td (The Company provides an allowance for uncollectible reinsurance, reflecting management) Tj ET Q q 0 0 0 rg BT 396.91 460.90 Td (s best estimate of reinsurance cessions that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 448.90 Td (may be uncollectible in the future due to reinsurers) Tj ET Q q 0 0 0 rg BT 237.91 448.90 Td ( unwillingness or inability to pay) Tj ET Q q 0 0 0 rg BT 369.19 448.90 Td (. During the second quarters of 2013, 2012 and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 436.90 Td (201) Tj ET Q q 0 0 0 rg BT 46.13 436.90 Td (1, the Company completed its annual evaluations of the collectability of the reinsurance recoverables and the adequacy of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 424.90 Td (allowance for uncollectible reinsurance associated with older) Tj ET Q q 0 0 0 rg BT 275.44 424.90 Td (, long-term casualty liabilities reported in the Property & Casualty Other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 412.90 Td (Operations. In conducting this evaluation, the Company used its most recent detailed evaluations of ceded liabilities reported in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 400.90 Td (segment. ) Tj ET Q q 0 0 0 rg BT 69.64 400.90 Td (The Company analyzed the overall credit quality of the Company) Tj ET Q q 0 0 0 rg BT 334.84 400.90 Td (s reinsurers, recent trends in arbitration and litigation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 388.90 Td (outcomes in disputes between cedants and reinsurers, and recent developments in commutation activity between reinsurers and cedants. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 376.90 Td (The evaluation in the second quarters of 2013, 2012, and 201) Tj ET Q q 0 0 0 rg BT 276.07 376.90 Td (1 resulted in no adjustments to the allowance for uncollectible reinsurance. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 364.90 Td (As of December 31, 2013, 2012, and 201) Tj ET Q q 0 0 0 rg BT 196.09 364.90 Td (1, the allowance for uncollectible reinsurance for Property & Casualty Other Operations totaled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 352.90 Td ($202, $203, and $207 and is included in the "All other" category of net loss and loss adjustment expense reserves. ) Tj ET Q q 0 0 0 rg BT 489.66 352.90 Td (The Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 340.90 Td (currently expects to perform its regular comprehensive review of Property & Casualty Other Operations reinsurance recoverables ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 328.90 Td (annually) Tj ET Q q 0 0 0 rg BT 65.28 328.90 Td (. Due to the inherent uncertainties as to collection and the length of time before reinsurance recoverables become due, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 316.90 Td (particularly for older) Tj ET Q q 0 0 0 rg BT 114.40 316.90 Td (, long-term casualty liabilities, it is possible that future adjustments to the Company) Tj ET Q q 0 0 0 rg BT 452.12 316.90 Td (s reinsurance recoverables, net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 304.90 Td (of the allowance, could be required.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 280.90 Td (Consistent with the Company) Tj ET Q q 0 0 0 rg BT 152.89 280.90 Td (s long-standing reserving practices, the Company will continue to review and monitor its reserves in the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 268.90 Td (Property & Casualty Other Operations segment regularly and, where future developments indicate, make appropriate adjustments to the) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 256.90 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 69.08 256.90 Td (The company will complete both its annual ground-up asbestos and environmental reserve studies during the second quarter of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 244.90 Td (2014.) Tj ET Q endstream endobj 119 0 obj <> endobj 120 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (59) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Impact of Re-estimates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 698.25 Td (The establishment of property and casualty insurance product reserves is an estimation process, using a variety of methods, assumptions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 686.25 Td (and data elements. Ultimate losses may vary materially from the current estimates. Many factors can contribute to these variations and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 674.25 Td (the need to change the previous estimate of required reserve levels. Subsequent changes can generally be thought of as being the result ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 662.25 Td (of the emer) Tj ET Q q 0 0 0 rg BT 76.85 662.25 Td (gence of additional facts that were not known or anticipated at the time of the prior reserve estimate and/or changes in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 650.25 Td (interpretations of information and trends.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (The table below shows the range of annual reserve re-estimates experienced by ) Tj ET Q q 0 0 0 rg BT 350.63 635.25 Td (The Hartford over the past ten years. ) Tj ET Q q 0 0 0 rg BT 499.83 635.25 Td (The amount of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (prior accident year development \(as shown in the reserve rollforward\) for a given calendar year is expressed as a percent of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (beginning calendar year reserves, net of reinsurance. ) Tj ET Q q 0 0 0 rg BT 244.27 611.25 Td (The percentage relationships presented are significantly influenced by the facts and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (circumstances of each particular year and by the fact that only the last ten years are included in the range. ) Tj ET Q q 0 0 0 rg BT 454.93 599.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 504.26 599.25 Td (, these percentages ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (are not intended to be a prediction of the range of possible future variability) Tj ET Q q 0 0 0 rg BT 333.80 587.25 Td (. See Impact of key assumptions on reserve volatility ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (within this section for further discussion of the potential for variability in recorded loss reserves.) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234 531.75 m 335 531.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 335 531.75 m 412 531.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 531.75 m 503 531.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503 531.75 m 581 531.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 497.75 m 234 497.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234 497.75 m 335 497.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 335 497.75 m 412 497.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 497.75 m 503 497.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503 497.75 m 581 497.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 536.42 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 239.35 546.43 Td (Property & Casualty) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 257.70 536.43 Td (Commercial) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.85 546.43 Td (Consumer) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 354.95 536.43 Td (Markets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 432.50 555.48 Td (Property &) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 424.15 545.48 Td (Casualty Other) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.10 535.48 Td (Operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 510.25 546.43 Td (Total Property) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 510.10 536.43 Td (& Casualty [1]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 522.43 Td (Range of prior accident year unfavorable) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 512.43 Td (\(favorable\) development for the ten years) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 502.43 Td (ended December31, 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.00 502.43 Td (\(3.1\)% - 1.5%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.00 502.43 Td (\(6.9\)% - 0.2%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.30 502.43 Td (1.9% - 9.3%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.50 502.43 Td (\(1.2\)% - 2.6%) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 481.45 Td ([1] ) Tj ET Q q 0 0 0 rg BT 54.00 481.45 Td (Excluding the r) Tj ET Q q 0 0 0 rg BT 109.15 481.45 Td (eserve str) Tj ET Q q 0 0 0 rg BT 143.56 481.45 Td (engthening for asbestos and envir) Tj ET Q q 0 0 0 rg BT 265.21 481.45 Td (onmental r) Tj ET Q q 0 0 0 rg BT 304.12 481.45 Td (eserves, over the past ten years r) Tj ET Q q 0 0 0 rg BT 422.01 481.45 Td (eserve r) Tj ET Q q 0 0 0 rg BT 450.41 481.45 Td (e-estimates for total pr) Tj ET Q q 0 0 0 rg BT 532.32 481.45 Td (operty and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 470.65 Td (casualty insurance ranged fr) Tj ET Q q 0 0 0 rg BT 157.40 470.65 Td (om ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 170.65 470.65 Td (\(2.5\)%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 195.39 470.65 Td ( to ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 206.89 470.65 Td (1.0%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 225.64 470.65 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 447.85 Td (The potential variability of the Company) Tj ET Q q 0 0 0 rg BT 197.85 447.85 Td (s property and casualty insurance product reserves would normally be expected to vary by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 435.85 Td (segment and the types of loss exposures insured by those segments. Illustrative factors influencing the potential reserve variability for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 423.85 Td (each of the segments are discussed above.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 408.85 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 408.85 Td ( table depicting the historical development of the liabilities for unpaid losses and loss adjustment expenses, net of reinsurance, follows:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.00 393.85 Td (Loss Development ) Tj ET Q q 0 0 0 rg BT 334.37 393.85 Td (T) Tj ET Q q 0 0 0 rg BT 340.12 393.85 Td (able) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 132.65 381.85 Td (Loss ) Tj ET Q q 0 0 0 rg BT 154.05 381.85 Td (And Loss ) Tj ET Q q 0 0 0 rg BT 196.30 381.85 Td (Adjustment Expense Liability Development Net of Reinsurance) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 231.90 369.85 Td (For) Tj ET Q q 0 0 0 rg BT 247.27 369.85 Td ( the ) Tj ET Q q 0 0 0 rg BT 265.23 369.85 Td (Y) Tj ET Q q 0 0 0 rg BT 271.34 369.85 Td (ears Ended December) Tj ET Q q 0 0 0 rg BT 365.02 369.85 Td ( 31,) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 349.35 131.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 349.35 38.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 349.35 38.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.00 349.35 38.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 349.35 38.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 349.35 38.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 349.35 38.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 349.35 38.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 349.35 38.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 349.35 38.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 349.35 38.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 543.00 349.35 38.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 292.35 131.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 292.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 292.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.00 292.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 292.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 292.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 292.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 292.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 292.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 292.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 292.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 543.00 292.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 270.35 131.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 270.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 270.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.00 270.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 270.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 270.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 270.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 270.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 270.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 270.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 270.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 543.00 270.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 248.35 131.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 248.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 248.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.00 248.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 248.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 248.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 248.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 248.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 248.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 248.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 248.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 543.00 248.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 226.35 131.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 226.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 226.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.00 226.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 226.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 226.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 226.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 226.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 226.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 226.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 226.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 543.00 226.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 204.35 131.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 204.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 204.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.00 204.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 204.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 204.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 204.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 204.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 204.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 204.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 204.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 543.00 204.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 182.35 131.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 182.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 182.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.00 182.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 182.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 182.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 182.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 182.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 182.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 182.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 182.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 543.00 182.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 160.35 131.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 160.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 160.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.00 160.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 160.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 160.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 160.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 160.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 160.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 160.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 160.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 543.00 160.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 138.35 131.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 138.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 138.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.00 138.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 138.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 138.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 138.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 138.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 138.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 138.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 138.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 543.00 138.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 116.35 131.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 116.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 116.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.00 116.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 116.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 116.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 116.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 116.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 116.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 116.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 116.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 543.00 116.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 94.35 131.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 94.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 94.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.00 94.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 94.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 94.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 94.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 94.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 94.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 94.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 94.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 543.00 94.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 72.35 131.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 72.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 72.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 239.00 72.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 72.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 72.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 72.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 391.00 72.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 429.00 72.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 72.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 72.35 38.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 543.00 72.35 38.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 163 349.35 m 201 349.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 349.35 m 239 349.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 239 349.35 m 277 349.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 277 349.35 m 315 349.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315 349.35 m 353 349.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353 349.35 m 391 349.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 391 349.35 m 429 349.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 429 349.35 m 467 349.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 467 349.35 m 505 349.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 349.35 m 543 349.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 543 349.35 m 581 349.35 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 61.35000000000002 m 163 61.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 163 61.35000000000002 m 201 61.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 61.35000000000002 m 239 61.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 239 61.35000000000002 m 277 61.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 277 61.35000000000002 m 315 61.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315 61.35000000000002 m 353 61.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353 61.35000000000002 m 391 61.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 391 61.35000000000002 m 429 61.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 429 61.35000000000002 m 467 61.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 467 61.35000000000002 m 505 61.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 61.35000000000002 m 543 61.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 543 61.35000000000002 m 581 61.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 39.35000000000002 m 163 39.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 163 39.35000000000002 m 201 39.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 61.35000000000002 m 239 61.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 201 39.35000000000002 m 239 39.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 239 61.35000000000002 m 277 61.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239 39.35000000000002 m 277 39.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 277 61.35000000000002 m 315 61.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 39.35000000000002 m 315 39.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315 61.35000000000002 m 353 61.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 39.35000000000002 m 353 39.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353 61.35000000000002 m 391 61.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 39.35000000000002 m 391 39.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 391 61.35000000000002 m 429 61.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 391 39.35000000000002 m 429 39.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 429 61.35000000000002 m 467 61.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 39.35000000000002 m 467 39.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 467 61.35000000000002 m 505 61.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 39.35000000000002 m 505 39.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 61.35000000000002 m 543 61.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 39.35000000000002 m 543 39.35000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 543 61.35000000000002 m 581 61.35000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 543 39.35000000000002 m 581 39.35000000000002 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 171.50 350.13 Td (2003) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 209.50 350.13 Td (2004) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 247.50 350.13 Td (2005) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 285.50 350.13 Td (2006) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 323.50 350.13 Td (2007) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 361.50 350.13 Td (2008) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.50 350.13 Td (2009) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 350.13 Td (2010) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 475.75 350.13 Td (2011) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 513.50 350.13 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 551.50 350.13 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 338.02 Td (Liabilities for unpaid losses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 328.02 Td (and loss adjustment expenses,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 318.02 Td (net of reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.50 318.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 318.02 Td (16,218) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.50 318.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 318.02 Td (16,191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.50 318.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 318.02 Td (16,863) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.50 318.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.60 318.02 Td (17,604) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.50 318.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.60 318.02 Td (18,231) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.50 318.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.60 318.02 Td (18,347) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.50 318.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.60 318.02 Td (18,210) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.50 318.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.60 318.02 Td (17,948) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.50 318.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.60 318.02 Td (18,517) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.50 318.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.60 318.02 Td (18,689) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.50 318.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.60 318.02 Td (18,676) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 304.08 Td (Cumulative paid losses and) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 294.13 Td (loss expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.50 297.02 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.50 297.02 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.50 297.02 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.50 297.02 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.50 297.02 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.50 297.02 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.50 297.02 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.50 297.02 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.50 297.02 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.50 297.02 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.50 297.02 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 282.97 Td (One year later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.60 282.97 Td (4,415) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.60 282.97 Td (3,594) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.60 282.97 Td (3,702) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.60 282.97 Td (3,727) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.60 282.97 Td (3,703) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.60 282.97 Td (3,771) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.60 282.97 Td (3,882) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.60 282.97 Td (4,037) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.60 282.97 Td (4,216) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.60 282.97 Td (4,274) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 271.97 Td (Two years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.60 271.97 Td (6,779) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.60 271.97 Td (6,035) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.60 271.97 Td (6,122) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.60 271.97 Td (5,980) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.60 271.97 Td (5,980) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.60 271.97 Td (6,273) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.60 271.97 Td (6,401) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.60 271.97 Td (6,664) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.60 271.97 Td (6,897) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 271.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 260.97 Td (Three years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.60 260.97 Td (8,686) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.60 260.97 Td (7,825) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.60 260.97 Td (7,755) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.60 260.97 Td (7,544) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.60 260.97 Td (7,752) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.60 260.97 Td (8,074) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.60 260.97 Td (8,241) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.60 260.97 Td (8,503) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 260.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 260.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 249.97 Td (Four years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 249.97 Td (10,075) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.60 249.97 Td (9,045) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.60 249.97 Td (8,889) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.60 249.97 Td (8,833) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.60 249.97 Td (9,048) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.60 249.97 Td (9,411) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.60 249.97 Td (9,538) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 249.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 249.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 249.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 238.97 Td (Five years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 238.97 Td (11,063) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.60 238.97 Td (9,928) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.60 238.97 Td (9,903) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.60 238.97 Td (9,778) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.60 238.97 Td (10,061) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.60 238.97 Td (10,395) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 238.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 238.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 238.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 238.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 227.97 Td (Six years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 227.97 Td (11,821) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 227.97 Td (10,798) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 227.97 Td (10,674) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.60 227.97 Td (10,564) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.60 227.97 Td (10,845) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 227.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 227.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 227.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 227.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 227.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 216.97 Td (Seven years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 216.97 Td (12,601) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 216.97 Td (11,448) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 216.97 Td (11,334) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.60 216.97 Td (11,216) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 216.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 216.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 216.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 216.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 216.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 216.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 205.97 Td (Eight years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 205.97 Td (13,193) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 205.97 Td (12,023) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 205.97 Td (11,895) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 205.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 205.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 205.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 205.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 205.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 205.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 205.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 194.97 Td (Nine years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 194.97 Td (13,718) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 194.97 Td (12,526) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.15 194.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 194.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 194.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 194.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 194.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 194.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 194.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 194.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 183.97 Td (Ten years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 183.97 Td (14,186) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.15 183.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.15 183.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 183.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 183.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 183.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 183.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 183.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 183.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 183.97 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 173.13 Td (Liabilities re-estimated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 161.97 Td (One year later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 161.97 Td (16,632) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 161.97 Td (16,439) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 161.97 Td (17,159) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.60 161.97 Td (17,652) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.60 161.97 Td (18,005) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.60 161.97 Td (18,161) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.60 161.97 Td (18,014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.60 161.97 Td (18,315) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.60 161.97 Td (18,513) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.60 161.97 Td (18,881) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 150.97 Td (Two years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 150.97 Td (17,232) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 150.97 Td (16,838) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 150.97 Td (17,347) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.60 150.97 Td (17,475) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.60 150.97 Td (17,858) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.60 150.97 Td (18,004) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.60 150.97 Td (18,136) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.60 150.97 Td (18,275) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.60 150.97 Td (18,686) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 150.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 139.97 Td (Three years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 139.97 Td (17,739) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 139.97 Td (17,240) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 139.97 Td (17,318) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.60 139.97 Td (17,441) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.60 139.97 Td (17,700) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.60 139.97 Td (18,139) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.60 139.97 Td (18,093) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.60 139.97 Td (18,299) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 139.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 139.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 128.97 Td (Four years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 128.97 Td (18,367) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 128.97 Td (17,344) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 128.97 Td (17,497) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.60 128.97 Td (17,439) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.60 128.97 Td (17,866) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.60 128.97 Td (18,120) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.60 128.97 Td (18,056) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 128.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 128.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 128.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 117.97 Td (Five years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 117.97 Td (18,554) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 117.97 Td (17,570) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 117.97 Td (17,613) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.60 117.97 Td (17,676) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.60 117.97 Td (17,848) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.60 117.97 Td (18,092) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 117.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 117.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 117.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 117.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 106.97 Td (Six years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 106.97 Td (18,836) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 106.97 Td (17,777) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 106.97 Td (17,895) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.60 106.97 Td (17,673) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.60 106.97 Td (17,857) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 106.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 106.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 106.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 106.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 106.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 95.97 Td (Seven years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 95.97 Td (19,063) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 95.97 Td (18,064) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 95.97 Td (17,899) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.60 95.97 Td (17,749) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 95.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 95.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 95.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 95.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 95.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 95.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 84.97 Td (Eight years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 84.97 Td (19,351) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 84.97 Td (18,062) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.60 84.97 Td (18,045) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 84.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 84.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 84.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 84.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 84.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 84.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 84.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 73.97 Td (Nine years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 73.97 Td (19,358) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.60 73.97 Td (18,214) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.15 73.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 73.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 73.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 73.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 73.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 73.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 73.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 73.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 62.97 Td (Ten years later) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.60 62.97 Td (19,517) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.15 62.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.15 62.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 62.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 62.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 62.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 62.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 62.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 62.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 62.97 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 52.08 Td (Deficiency \(redundancy\), net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 42.08 Td (of reinsurance) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 165.50 44.03 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 174.60 44.03 Td (3,299) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 203.50 44.03 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 212.60 44.03 Td (2,023) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 241.50 44.03 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 250.60 44.03 Td (1,182) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 279.50 44.03 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 296.15 44.03 Td (145) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 317.50 44.03 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 330.80 44.08 Td (\(374) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 349.15 44.03 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 355.50 44.03 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 368.80 44.08 Td (\(255) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 387.15 44.03 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 393.50 44.03 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 406.80 44.08 Td (\(154) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.15 44.03 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.50 44.03 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.15 44.03 Td (351) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.50 44.03 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 486.15 44.03 Td (169) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.50 44.03 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.15 44.03 Td (192) Tj ET Q BT /F2 10.00 Tf ET endstream endobj 121 0 obj <> endobj 122 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (60) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.89 713.10 Td (previous ) Tj ET Q q 0 0 0 rg BT 87.17 713.10 Td (table ) Tj ET Q q 0 0 0 rg BT 109.45 713.10 Td (shows ) Tj ET Q q 0 0 0 rg BT 137.30 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 152.36 713.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 199.63 713.10 Td (deficiency ) Tj ET Q q 0 0 0 rg BT 244.12 713.10 Td (\(redundancy\)of ) Tj ET Q q 0 0 0 rg BT 311.10 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.16 713.10 Td (Company) Tj ET Q q 0 0 0 rg BT 367.83 713.10 Td (s ) Tj ET Q q 0 0 0 rg BT 374.56 713.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 412.66 713.10 Td (net ) Tj ET Q q 0 0 0 rg BT 427.73 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 438.90 713.10 Td (reinsurance, ) Tj ET Q q 0 0 0 rg BT 490.33 713.10 Td (as ) Tj ET Q q 0 0 0 rg BT 501.50 713.10 Td (now ) Tj ET Q q 0 0 0 rg BT 521.57 713.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 562.73 713.10 Td (with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 46.73 701.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 77.50 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 88.84 701.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 131.84 701.10 Td (information. ) Tj ET Q q 0 0 0 rg BT 184.35 701.10 Td (Those ) Tj ET Q q 0 0 0 rg BT 211.79 701.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 248.69 701.10 Td (are ) Tj ET Q q 0 0 0 rg BT 263.91 701.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 308.57 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 319.92 701.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 355.13 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 365.92 701.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 406.14 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 417.48 701.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 441.61 701.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 468.51 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 485.96 701.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 521.17 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 531.96 701.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 572.19 701.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (related ) Tj ET Q q 0 0 0 rg BT 61.20 689.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 109.79 689.10 Td (recoveries.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.52 671.10 Td (following ) Tj ET Q q 0 0 0 rg BT 90.88 671.10 Td (table, ) Tj ET Q q 0 0 0 rg BT 115.29 671.10 Td (for ) Tj ET Q q 0 0 0 rg BT 129.43 671.10 Td (the ) Tj ET Q q 0 0 0 rg BT 144.12 671.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 176.04 671.10 Td (presented, ) Tj ET Q q 0 0 0 rg BT 219.33 671.10 Td (reconciles ) Tj ET Q q 0 0 0 rg BT 262.33 671.10 Td (the ) Tj ET Q q 0 0 0 rg BT 277.03 671.10 Td (net ) Tj ET Q q 0 0 0 rg BT 291.72 671.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 326.95 671.10 Td (to ) Tj ET Q q 0 0 0 rg BT 337.21 671.10 Td (the ) Tj ET Q q 0 0 0 rg BT 351.90 671.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 375.49 671.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 413.22 671.10 Td (as ) Tj ET Q q 0 0 0 rg BT 424.03 671.10 Td (initially ) Tj ET Q q 0 0 0 rg BT 457.61 671.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 498.41 671.10 Td (and ) Tj ET Q q 0 0 0 rg BT 515.32 671.10 Td (recorded, ) Tj ET Q q 0 0 0 rg BT 555.27 671.10 Td (and ) Tj ET Q q 0 0 0 rg BT 572.19 671.10 Td (as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 70.09 659.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 110.91 659.10 Td (and ) Tj ET Q q 0 0 0 rg BT 127.85 659.10 Td (recorded, ) Tj ET Q q 0 0 0 rg BT 167.83 659.10 Td (and ) Tj ET Q q 0 0 0 rg BT 184.77 659.10 Td (computes ) Tj ET Q q 0 0 0 rg BT 225.59 659.10 Td (the ) Tj ET Q q 0 0 0 rg BT 240.31 659.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 287.24 659.10 Td (deficiency ) Tj ET Q q 0 0 0 rg BT 331.38 659.10 Td (\(redundancy\)of ) Tj ET Q q 0 0 0 rg BT 398.01 659.10 Td (the ) Tj ET Q q 0 0 0 rg BT 412.73 659.10 Td (Company) Tj ET Q q 0 0 0 rg BT 454.40 659.10 Td (s ) Tj ET Q q 0 0 0 rg BT 460.79 659.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 496.05 659.10 Td (before ) Tj ET Q q 0 0 0 rg BT 524.08 659.10 Td (reinsurance.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 161.05 641.10 Td (Loss ) Tj ET Q q 0 0 0 rg BT 182.45 641.10 Td (And Loss ) Tj ET Q q 0 0 0 rg BT 224.70 641.10 Td (Adjustment Expense Liability Development Gr) Tj ET Q q 0 0 0 rg BT 438.13 641.10 Td (oss) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 231.90 629.10 Td (For) Tj ET Q q 0 0 0 rg BT 247.27 629.10 Td ( the ) Tj ET Q q 0 0 0 rg BT 265.23 629.10 Td (Y) Tj ET Q q 0 0 0 rg BT 271.34 629.10 Td (ears Ended December) Tj ET Q q 0 0 0 rg BT 365.02 629.10 Td (31,) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 604.60 149.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.00 604.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 604.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 604.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.00 604.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 604.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 604.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 604.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 604.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 604.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 604.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 545.60 149.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.00 545.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 545.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 545.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.00 545.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 545.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 545.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 545.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 545.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 545.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 545.60 40.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 497.60 149.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.00 497.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 497.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 497.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.00 497.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 497.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 497.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 497.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 497.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 497.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 497.60 40.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 448.60 149.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 181.00 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 301.00 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 448.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 448.60 40.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181 604.6 m 221 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 604.6 m 261 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 261 604.6 m 301 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 301 604.6 m 341 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 604.6 m 381 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381 604.6 m 421 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 604.6 m 461 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 604.6 m 501 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 604.6 m 541 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 604.6 m 581 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 580.6 m 181 580.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181 604.6 m 221 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181 580.6 m 221 580.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 604.6 m 261 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 580.6 m 261 580.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 261 604.6 m 301 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 261 580.6 m 301 580.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 301 604.6 m 341 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 301 580.6 m 341 580.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 604.6 m 381 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 580.6 m 381 580.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381 604.6 m 421 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381 580.6 m 421 580.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 604.6 m 461 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 580.6 m 461 580.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 604.6 m 501 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 580.6 m 501 580.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 604.6 m 541 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 580.6 m 541 580.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 604.6 m 581 604.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 580.6 m 581 580.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 545.6 m 181 545.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181 545.6 m 221 545.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 545.6 m 261 545.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 261 545.6 m 301 545.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 301 545.6 m 341 545.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 545.6 m 381 545.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381 545.6 m 421 545.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 545.6 m 461 545.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 545.6 m 501 545.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 545.6 m 541 545.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 545.6 m 581 545.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 521.6 m 181 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 181 521.6 m 221 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 521.6 m 261 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 521.6 m 301 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301 521.6 m 341 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 521.6 m 381 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 521.6 m 421 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 521.6 m 461 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 521.6 m 501 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 521.6 m 541 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 541 521.6 m 581 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 181 521.6 m 221 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 521.6 m 261 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 521.6 m 301 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301 521.6 m 341 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 521.6 m 381 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 521.6 m 421 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 521.6 m 461 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 521.6 m 501 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 521.6 m 541 521.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 472.6 m 181 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181 472.6 m 221 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 472.6 m 261 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 261 472.6 m 301 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 301 472.6 m 341 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 472.6 m 381 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381 472.6 m 421 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 472.6 m 461 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 472.6 m 501 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 472.6 m 541 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 472.6 m 581 472.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 448.6 m 181 448.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 181 448.6 m 221 448.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 448.6 m 261 448.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 261 448.6 m 301 448.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 301 448.6 m 341 448.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 448.6 m 381 448.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381 448.6 m 421 448.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 448.6 m 461 448.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 448.6 m 501 448.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 448.6 m 541 448.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 448.6 m 581 448.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 434.6 m 181 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 181 434.6 m 221 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 434.6 m 261 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 434.6 m 301 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 301 434.6 m 341 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 434.6 m 381 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 434.6 m 421 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 434.6 m 461 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 434.6 m 501 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 434.6 m 541 434.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 541 434.6 m 581 434.6 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 190.50 609.28 Td (2004) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 230.50 609.28 Td (2005) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 270.50 609.28 Td (2006) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 310.50 609.28 Td (2007) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.50 609.28 Td (2008) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 390.50 609.28 Td (2009) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.50 609.28 Td (2010) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.75 609.28 Td (2011) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 510.50 609.28 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 550.50 609.28 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 585.28 Td (Net reserve, as initially estimated) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 183.50 585.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 189.60 585.28 Td (16,191) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 223.50 585.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 229.60 585.28 Td (16,863) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.50 585.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 269.60 585.28 Td (17,604) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.50 585.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 309.60 585.28 Td (18,231) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.50 585.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 349.60 585.28 Td (18,347) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.50 585.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.60 585.28 Td (18,210) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.50 585.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.60 585.28 Td (17,948) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.50 585.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.60 585.28 Td (18,517) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.50 585.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.60 585.28 Td (18,689) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 543.50 585.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.60 585.28 Td (18,676) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 570.27 Td (Reinsurance and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 560.27 Td (recoverables, as initially) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 550.27 Td (estimated) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.60 550.27 Td (5,138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.60 550.27 Td (5,403) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.60 550.27 Td (4,387) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 314.60 550.27 Td (3,922) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.60 550.27 Td (3,586) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.60 550.27 Td (3,441) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.60 550.27 Td (3,077) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.60 550.27 Td (3,033) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.60 550.27 Td (3,027) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.60 550.27 Td (3,028) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 536.28 Td (Gross reserve, as initially) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 43.50 526.28 Td (estimated) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 183.50 526.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 189.60 526.28 Td (21,329) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 223.50 526.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 229.60 526.28 Td (22,266) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.50 526.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 269.60 526.28 Td (21,991) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.50 526.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 309.60 526.28 Td (22,153) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.50 526.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 349.60 526.28 Td (21,933) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.50 526.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.60 526.28 Td (21,651) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.50 526.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.60 526.28 Td (21,025) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.50 526.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.60 526.28 Td (21,550) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.50 526.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.60 526.28 Td (21,716) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 543.50 526.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.60 526.28 Td (21,704) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 502.28 Td (Net re-estimated reserve) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 183.50 502.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 189.60 502.28 Td (18,214) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 223.50 502.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 229.60 502.28 Td (18,045) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.50 502.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 269.60 502.28 Td (17,749) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.50 502.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 309.60 502.28 Td (17,857) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.50 502.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 349.60 502.28 Td (18,092) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.50 502.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.60 502.28 Td (18,056) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.50 502.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.60 502.28 Td (18,299) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.50 502.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.60 502.28 Td (18,686) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.50 502.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.60 502.28 Td (18,881) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 487.27 Td (Re-estimated and other reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 477.27 Td (recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.60 477.27 Td (5,647) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.60 477.27 Td (5,971) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.60 477.27 Td (4,362) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 314.60 477.27 Td (4,103) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.60 477.27 Td (3,777) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.60 477.27 Td (3,288) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.60 477.27 Td (2,988) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.60 477.27 Td (2,805) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.60 477.27 Td (2,620) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 453.28 Td (Gross re-estimated reserve) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 183.50 453.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 189.60 453.28 Td (23,861) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 223.50 453.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 229.60 453.28 Td (24,016) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.50 453.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 269.60 453.28 Td (22,111) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.50 453.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 309.60 453.28 Td (21,960) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.50 453.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 349.60 453.28 Td (21,869) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.50 453.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.60 453.28 Td (21,344) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.50 453.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.60 453.28 Td (21,287) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.50 453.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.60 453.28 Td (21,491) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.50 453.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.60 453.28 Td (21,501) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 439.28 Td (Gross deficiency \(redundancy\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 183.50 439.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 194.60 439.28 Td (2,532) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 223.50 439.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 234.60 439.28 Td (1,750) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.50 439.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 282.15 439.28 Td (120) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.50 439.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 318.80 439.33 Td (\(193) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 337.15 439.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.50 439.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.80 439.33 Td (\(64) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 377.15 439.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.50 439.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.80 439.33 Td (\(307) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 417.15 439.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.50 439.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.15 439.28 Td (262) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.50 439.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.80 439.33 Td (\(59) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 497.15 439.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.50 439.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 518.80 439.33 Td (\(215) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 537.15 439.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 417.10 Td (The following table is derived from the Loss Development table and summarizes the ef) Tj ET Q q 0 0 0 rg BT 380.38 417.10 Td (fect of reserve re-estimates, net of reinsurance, on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 405.10 Td (calendar year operations for the ten-year period ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.28 405.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.86 405.10 Td (. ) Tj ET Q q 0 0 0 rg BT 333.68 405.10 Td (The total of each column details the amount of reserve re-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 393.10 Td (estimates made in the indicated calendar year and shows the accident years to which the re-estimates are applicable. ) Tj ET Q q 0 0 0 rg BT 497.51 393.10 Td (The amounts in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 381.10 Td (total accident year column on the far right represent the cumulative reserve re-estimates during the ten year period ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.13 381.10 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 369.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 369.10 Td ( for the indicated accident year\(s\).) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 168.60 351.10 Td (Effect of Net Reserve Re-estimates on Calendar) Tj ET Q q 0 0 0 rg BT 371.12 351.10 Td ( ) Tj ET Q q 0 0 0 rg BT 373.25 351.10 Td (Y) Tj ET Q q 0 0 0 rg BT 379.37 351.10 Td (ear) Tj ET Q q 0 0 0 rg BT 393.06 351.10 Td ( Operations) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 304.60 154.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.00 304.60 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 304.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.00 304.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 304.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 304.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 304.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 304.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 304.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 304.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 304.60 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 304.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 275.60 154.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.00 275.60 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 275.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.00 275.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 275.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 275.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 275.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 275.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 275.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 275.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 275.60 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 275.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 245.60 154.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.00 245.60 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 245.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.00 245.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 245.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 245.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 245.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 245.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 245.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 245.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 245.60 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 245.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 215.60 154.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.00 215.60 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 215.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.00 215.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 215.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 215.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 215.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 215.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 215.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 215.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 215.60 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 215.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 185.60 154.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.00 185.60 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 185.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.00 185.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 185.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 185.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 185.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 185.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 185.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 185.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 185.60 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 185.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 155.60 154.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 186.00 155.60 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 155.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 259.00 155.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 155.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 327.00 155.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 155.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 155.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 433.00 155.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 155.60 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 155.60 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 155.60 38.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 186 319.6 m 221 319.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 319.6 m 259 319.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 259 319.6 m 293 319.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 293 319.6 m 327 319.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327 319.6 m 361 319.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 319.6 m 395 319.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395 319.6 m 433 319.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 433 319.6 m 471 319.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 471 319.6 m 509 319.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 319.6 m 541 319.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 319.6 m 579 319.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 304.6 m 186 304.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 186 304.6 m 221 304.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 304.6 m 259 304.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 259 304.6 m 293 304.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 293 304.6 m 327 304.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327 304.6 m 361 304.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 304.6 m 395 304.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395 304.6 m 433 304.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 433 304.6 m 471 304.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 471 304.6 m 509 304.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 304.6 m 541 304.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 304.6 m 579 304.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 140.60000000000002 m 186 140.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 186 140.60000000000002 m 221 140.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 140.60000000000002 m 259 140.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 259 140.60000000000002 m 293 140.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 293 140.60000000000002 m 327 140.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 327 140.60000000000002 m 361 140.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 140.60000000000002 m 395 140.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395 140.60000000000002 m 433 140.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 433 140.60000000000002 m 471 140.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 471 140.60000000000002 m 509 140.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 140.60000000000002 m 541 140.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 140.60000000000002 m 579 140.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 106.60000000000002 m 186 106.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 186 106.60000000000002 m 221 106.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 106.60000000000002 m 259 106.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 259 106.60000000000002 m 293 106.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293 106.60000000000002 m 327 106.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 327 106.60000000000002 m 361 106.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 106.60000000000002 m 395 106.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 106.60000000000002 m 433 106.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 106.60000000000002 m 471 106.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 106.60000000000002 m 509 106.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 106.60000000000002 m 541 106.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 541 106.60000000000002 m 579 106.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 324.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 351.10 324.28 Td (Calendar Year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 309.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 193.00 309.28 Td (2004) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 229.50 309.28 Td (2005) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 265.50 309.28 Td (2006) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 299.50 309.28 Td (2007) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 333.50 309.28 Td (2008) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.50 309.28 Td (2009) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 403.50 309.28 Td (2010) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.75 309.28 Td (2011) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.50 309.28 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.50 309.28 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.55 309.28 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 294.28 Td (By Accident year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.50 294.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.50 294.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 261.50 294.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.50 294.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.50 294.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 294.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.50 294.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.50 294.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.50 294.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.50 294.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.50 294.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 280.17 Td (2003 & Prior) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.50 280.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.10 280.17 Td (414) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.50 280.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 280.17 Td (600) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 261.50 280.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.10 280.17 Td (507) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.50 280.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.10 280.17 Td (628) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.50 280.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.10 280.17 Td (187) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 280.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.10 280.17 Td (282) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.50 280.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 280.17 Td (227) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.50 280.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 280.17 Td (288) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.50 280.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 280.17 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.50 280.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.10 280.17 Td (158) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.50 280.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.60 280.17 Td (3,298) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 265.27 Td (2004) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.15 265.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.80 265.27 Td (\(352) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.15 265.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.80 265.32 Td (\(108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 265.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.80 265.32 Td (\(226) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.15 265.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.80 265.32 Td (\(83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.15 265.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.80 265.32 Td (\(56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.15 265.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.80 265.32 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 265.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.80 265.32 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 265.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.80 265.32 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.15 265.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.80 265.32 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.15 265.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 265.27 Td (\(862) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 265.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 250.27 Td (2005) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.15 250.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.15 250.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.80 250.32 Td (\(103) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 250.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.80 250.32 Td (\(214) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.15 250.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.80 250.32 Td (\(133) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.15 250.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.80 250.32 Td (\(47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.15 250.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.80 250.32 Td (\(91) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 250.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.80 250.32 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 250.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 250.27 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.80 250.32 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.15 250.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 250.27 Td (\(593) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 250.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 235.27 Td (2006) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.15 235.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.15 235.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.15 235.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.80 235.32 Td (\(140) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.15 235.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.80 235.32 Td (\(148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.15 235.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.80 235.32 Td (\(213) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.15 235.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.80 235.32 Td (\(118) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 235.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.80 235.32 Td (\(45) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 235.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.80 235.32 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.15 235.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.80 235.32 Td (\(69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.15 235.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 235.27 Td (\(740) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 235.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 220.27 Td (2007) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.15 220.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.15 220.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.15 220.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.15 220.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.80 220.32 Td (\(49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.15 220.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.80 220.32 Td (\(113) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.15 220.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.80 220.32 Td (\(156) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 220.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.80 220.32 Td (\(71) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 220.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.80 220.32 Td (\(15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.15 220.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.80 220.32 Td (\(67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.15 220.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 220.27 Td (\(471) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 220.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 205.27 Td (2008) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.15 205.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.15 205.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.15 205.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.15 205.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 205.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.80 205.32 Td (\(39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.15 205.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.15 205.27 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.80 205.32 Td (\(31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 205.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.80 205.32 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.15 205.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.80 205.32 Td (\(37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.15 205.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 205.27 Td (\(107) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 205.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 190.27 Td (2009) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.15 190.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.15 190.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.15 190.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.15 190.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 190.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.15 190.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.80 190.32 Td (\(39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 190.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.80 190.32 Td (\(13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 190.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.80 190.32 Td (\(24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.15 190.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.80 190.32 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.15 190.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.80 190.27 Td (\(84) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 190.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 175.27 Td (2010) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.15 175.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.15 175.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.15 175.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.15 175.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 175.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.15 175.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.15 175.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 175.27 Td (245) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 175.27 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 175.27 Td (61) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 175.27 Td (309) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 160.27 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.15 160.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.15 160.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.15 160.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.15 160.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 160.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.15 160.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.15 160.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 160.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.15 160.27 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.10 160.27 Td (148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 160.27 Td (184) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 145.27 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.15 145.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.15 145.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.15 145.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.15 145.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 145.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.15 145.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.15 145.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 145.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.15 145.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 145.27 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.15 145.27 Td (19) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 111.28 Td (Total strengthening \(release\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 188.50 111.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 202.10 111.28 Td (414) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 223.50 111.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 240.15 111.28 Td (248) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 261.50 111.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.10 111.28 Td (296) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.50 111.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.15 111.28 Td (48) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 329.50 111.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 338.80 111.33 Td (\(226) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 357.15 111.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.50 111.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.80 111.33 Td (\(186) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.15 111.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 397.50 111.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 410.80 111.33 Td (\(196) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.15 111.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 435.50 111.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.15 111.28 Td (367) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.50 111.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 496.80 111.33 Td (\(4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.15 111.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.50 111.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 522.10 111.28 Td (192) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 543.50 111.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 560.15 111.28 Td (953) Tj ET Q BT /F2 10.00 Tf ET endstream endobj 123 0 obj <> endobj 124 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (61) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Reserve changes for accident years ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 175.62 713.10 Td (2003) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 195.62 713.10 Td ( & Prior) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The lar) Tj ET Q q 0 0 0 rg BT 59.91 695.10 Td (gest impacts of net reserve re-estimates are shown in the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 292.60 695.10 Td (2003) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 312.60 695.10 Td ( & Prior accident years. ) Tj ET Q q 0 0 0 rg BT 414.05 695.10 Td (The reserve deterioration is driven, in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (part, by deterioration of reserves for asbestos, environmental, assumed casualty reinsurance, workers) Tj ET Q q 0 0 0 rg BT 437.56 683.10 Td ( compensation, and general ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (liability claims. Numerous actuarial assumptions on assumed casualty reinsurance turned out to be low) Tj ET Q q 0 0 0 rg BT 442.42 671.10 Td (, including loss cost trends, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (particularly on excess of loss business, and the impact of deteriorating terms and conditions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (The reserve re-estimates in calendar years 2004 through 2006 were lar) Tj ET Q q 0 0 0 rg BT 312.87 641.10 Td (gely attributable to reductions in the reinsurance recoverable asset ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (associated with older) Tj ET Q q 0 0 0 rg BT 115.52 629.10 Td (, long-term casualty liabilities, and unexpected development on mature claims in both general liability and workers) Tj ET Q q 0 0 0 rg BT 578.25 629.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (compensation.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (During the 2007 calendar year) Tj ET Q q 0 0 0 rg BT 152.72 599.10 Td (, the Company refined its processes for allocating incurred but not reported \(IBNR\) reserves by accident ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (year) Tj ET Q q 0 0 0 rg BT 48.31 587.10 Td (, resulting in a reclassification of $347 of IBNR reserves from the 2003 to 2006 accident years to the 2002 and prior accident years. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (This reclassification of reserves by accident year had no ef) Tj ET Q q 0 0 0 rg BT 265.94 575.10 Td (fect on total recorded reserves within any segment or on total recorded ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (reserves for any line of business within a segment. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (The reserve re-estimates during calendar year 2008 were lar) Tj ET Q q 0 0 0 rg BT 271.20 545.10 Td (gely driven by increases in asbestos, environmental and general liability ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 69.08 533.10 Td (The reserve re-estimates in calendar years 2009, 2010, 201) Tj ET Q q 0 0 0 rg BT 304.17 533.10 Td (1 and 2013 were lar) Tj ET Q q 0 0 0 rg BT 383.40 533.10 Td (gely due to increases in asbestos and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (environmental reserves, resulting from the Company) Tj ET Q q 0 0 0 rg BT 245.33 521.10 Td (s annual evaluations of these liabilities. ) Tj ET Q q 0 0 0 rg BT 404.83 521.10 Td (These reserve evaluations reflect ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (deterioration in the litigation environment surrounding asbestos and environmental liabilities during this period.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 491.10 Td (Reserve changes for accident years ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 175.62 491.10 Td (2004) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 195.62 491.10 Td ( thr) Tj ET Q q 0 0 0 rg BT 209.42 491.10 Td (ough ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 231.92 491.10 Td (2008) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 251.92 491.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (During calendar year 2005 and 2006, favorable re-estimates occurred for both loss and allocated loss adjustment expenses. In addition, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (catastrophe reserves related to the 2004 and 2005 hurricanes developed favorably in 2006. During calendar years 2005 through 2008, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (Company recognized favorable re-estimates of both loss and allocated loss adjustment expenses on workers) Tj ET Q q 0 0 0 rg BT 465.35 449.10 Td ( compensation claims, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (driven, in part, by state regulatory reforms in California and Florida, underwriting actions, and expense reduction initiatives that had a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (greater impact in controlling costs than originally estimated. Even after considering the reclassification of IBNR reserves, accident years ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (2004 through 2007 show favorable development in calendar years 2005 through 201) Tj ET Q q 0 0 0 rg BT 369.10 413.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 378.55 413.10 Td (A) Tj ET Q q 0 0 0 rg BT 385.22 413.10 Td ( portion of the release comes from short-tail ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (lines of business, where results emer) Tj ET Q q 0 0 0 rg BT 177.95 401.10 Td (ge quickly) Tj ET Q q 0 0 0 rg BT 219.23 401.10 Td (. In 2007, the Company released reserves for package business claims as reported losses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.10 Td (emer) Tj ET Q q 0 0 0 rg BT 51.30 389.10 Td (ged favorably to previous expectations. In 2007 through 2009, the Company released reserves for general liability claims due to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.10 Td (favorable emer) Tj ET Q q 0 0 0 rg BT 91.56 377.10 Td (gence of losses for high hazard and umbrella general liability claims. Reserves for professional liability claims were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.10 Td (released in 2008 and 2009 related to the 2004 through 2007 accident years due to a lower estimate of claim severity on both directors) Tj ET Q q 0 0 0 rg BT 566.98 365.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (and of) Tj ET Q q 0 0 0 rg BT 56.59 353.10 Td (ficers) Tj ET Q q 0 0 0 rg BT 81.38 353.10 Td ( insurance claims and errors and omissions insurance claims. Reserves of auto liability claims, within Consumer Markets, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (were released in 2008 due lar) Tj ET Q q 0 0 0 rg BT 148.77 341.10 Td (gely to an improvement in emer) Tj ET Q q 0 0 0 rg BT 276.60 341.10 Td (ged claim severity for the 2005 to 2007 accident years.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 323.10 Td (Reserve changes for accident years ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 175.62 323.10 Td (2009) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 195.62 323.10 Td ( thr) Tj ET Q q 0 0 0 rg BT 209.42 323.10 Td (ough ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 231.92 323.10 Td (2010) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 251.92 323.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.10 Td (Accident year 2009 remains reasonably close to original estimates. Modest favorable reserve re-estimates during calendar periods 2009 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.10 Td (through 2013 are primarily related to liability lines of business. Unfavorable reserve re-estimates in calendar year 201) Tj ET Q q 0 0 0 rg BT 502.35 293.10 Td (1 on accident year ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.10 Td (2010 are lar) Tj ET Q q 0 0 0 rg BT 79.07 281.10 Td (gely driven by workers' compensation. Loss cost trends were higher than initially expected as an increase in frequency ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.10 Td (outpaced a moderation of severity trends. Unfavorable reserve re-estimates in calendar year 2013 on accident year 2010 are primarily ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.10 Td (related to workers' compensation and commercial auto liability) Tj ET Q q 0 0 0 rg BT 282.85 257.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 239.10 Td (Reserve changes for accident year ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 171.72 239.10 Td (201) Tj ET Q q 0 0 0 rg BT 185.98 239.10 Td (1) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 190.98 239.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.10 Td (Unfavorable reserve re-estimates in calendar year 2013 are driven by commercial auto liability and workers) Tj ET Q q 0 0 0 rg BT 465.02 221.10 Td ( compensation. Commercial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.10 Td (auto liability was driven by higher frequency of lar) Tj ET Q q 0 0 0 rg BT 235.14 209.10 Td (ge loss bodily injury claims. ) Tj ET Q q 0 0 0 rg BT 350.51 209.10 Td (W) Tj ET Q q 0 0 0 rg BT 359.15 209.10 Td (orkers) Tj ET Q q 0 0 0 rg BT 386.72 209.10 Td ( compensation loss cost trends were higher than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.10 Td (initially expected as an increase in frequency outpaced a moderation of severity trends.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 179.10 Td (Reserve changes for accident year ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 171.72 179.10 Td (2012) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 191.72 179.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.10 Td (Accident year 2012 remains reasonably close to the original estimate. Modest unfavorable reserve re-estimates during calendar year ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.10 Td (2013 are primarily related to commercial auto liability driven by higher frequency of lar) Tj ET Q q 0 0 0 rg BT 383.69 149.10 Td (ge loss bodily injury claims of) Tj ET Q q 0 0 0 rg BT 504.88 149.10 Td (fset by reserve ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.10 Td (releases related to Storm Sandy) Tj ET Q q 0 0 0 rg BT 156.92 137.10 Td (.) Tj ET Q endstream endobj 125 0 obj <> endobj 126 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (62) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Estimated Gross Profits Used in the V) Tj ET Q q 0 0 0 rg BT 186.52 713.25 Td (aluation and ) Tj ET Q q 0 0 0 rg BT 241.17 713.25 Td (Amortization of ) Tj ET Q q 0 0 0 rg BT 308.03 713.25 Td (Assets and Liabilities ) Tj ET Q q 0 0 0 rg BT 397.39 713.25 Td (Associated with V) Tj ET Q q 0 0 0 rg BT 469.63 713.25 Td (ariable ) Tj ET Q q 0 0 0 rg BT 500.65 713.25 Td (Annuity and Other ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 701.25 Td (Universal Life-T) Tj ET Q q 0 0 0 rg BT 99.72 701.25 Td (ype Contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (Estimated gross profits are used in the amortization of: the deferred policy acquisition costs \("DAC"\) asset, which includes the present ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (value of future profits; sales inducement assets \(SIA\); and unearned revenue reserves \(URR\). Portions of EGPs are also used in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (valuation of reserves for death and other insurance benefit features on variable annuity and other universal life type contracts. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (The most significant EGP) Tj ET Q q 0 0 0 rg BT 134.73 641.25 Td ( based balances are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 591.75 393.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 591.75 81.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 591.75 75.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 563.75 393.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 425.00 563.75 81.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 563.75 75.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 425 613.75 m 506 613.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506 613.75 m 581 613.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 425 602.75 m 506 602.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506 602.75 m 581 602.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 591.75 m 425 591.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 425 591.75 m 506 591.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506 591.75 m 581 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 537.75 m 425 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 537.75 m 506 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 537.75 m 581 537.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 467.50 616.20 Td (Talcott Resolution) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.30 605.20 Td (As of December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.00 594.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.00 594.20 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 580.42 Td (DAC [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.50 580.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 580.42 Td (1,552) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.50 580.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 580.42 Td (5,112) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 566.37 Td (SIA [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.50 566.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 566.37 Td (149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.50 566.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 566.37 Td (325) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 554.32 Td (URR [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.50 554.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 554.32 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.50 554.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 554.32 Td (1,880) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 540.37 Td (Death and Other Insurance Benefit Reserves, net of reinsurance [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.50 540.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 540.37 Td (565) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.50 540.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 540.37 Td (1,277) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 521.45 Td ([1]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.50 521.45 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 521.45 Td (For additional information on DAC and SIA, see Note ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 251.49 521.45 Td (8) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 255.99 521.45 Td ( - Deferr) Tj ET Q q 0 0 0 rg BT 287.15 521.45 Td (ed Policy ) Tj ET Q q 0 0 0 rg BT 322.97 521.45 Td (Acquisition Costs and Pr) Tj ET Q q 0 0 0 rg BT 412.89 521.45 Td (esent V) Tj ET Q q 0 0 0 rg BT 438.13 521.45 Td (alue of Futur) Tj ET Q q 0 0 0 rg BT 485.29 521.45 Td (e Pr) Tj ET Q q 0 0 0 rg BT 500.20 521.45 Td (ofits and Note ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 552.96 521.45 Td (10) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 561.96 521.45 Td ( - ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 510.65 Td (Sales Inducements) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 120.73 510.65 Td (, r) Tj ET Q q 0 0 0 rg BT 128.40 510.65 Td (espectively) Tj ET Q q 0 0 0 rg BT 167.37 510.65 Td (, of Notes to Consolidated Financial Statements.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 493.85 Td ([2]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.50 493.85 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 493.85 Td (URR associated with the Individual Life business is no longer included in EGP) Tj ET Q q 0 0 0 rg BT 338.31 493.85 Td ( based balances due to the sale of this business in 2013. ) Tj ET Q q 0 0 0 rg BT 541.38 493.85 Td (As of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 483.05 Td (December 31, 2012, URR included appr) Tj ET Q q 0 0 0 rg BT 198.88 483.05 Td (oximately ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 236.12 483.05 Td ($1.8) Tj ET Q BT /F2 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 1 0 0 rg BT 251.87 483.05 Td ( ) Tj ET Q BT /F4 9.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 254.12 483.05 Td (billion r) Tj ET Q q 0 0 0 rg BT 283.04 483.05 Td (elated to the Individual Life business. For additional information r) Tj ET Q q 0 0 0 rg BT 523.20 483.05 Td (egar) Tj ET Q q 0 0 0 rg BT 539.36 483.05 Td (ding ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 472.25 Td (business dispositions, see Note ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 167.25 472.25 Td (2) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 171.75 472.25 Td ( - ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 179.25 472.25 Td (Business Dispositions) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 258.01 472.25 Td ( of Notes to Consolidated Financial Statements. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 455.45 Td ([3]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.50 455.45 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 455.45 Td (For additional information on death and other insurance benefit r) Tj ET Q q 0 0 0 rg BT 291.90 455.45 Td (eserves, see Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 355.88 455.45 Td (1) Tj ET Q q 0 0 0 rg BT 359.71 455.45 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 364.21 455.45 Td ( - ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 371.71 455.45 Td (Separate ) Tj ET Q q 0 0 0 rg BT 405.79 455.45 Td (Accounts, Death Benefits and Other Insurance ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 444.65 Td (Benefit Featur) Tj ET Q q 0 0 0 rg BT 105.90 444.65 Td (es) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 113.40 444.65 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 426.65 Td (Unlocks) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 408.65 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 408.65 Td (\(char) Tj ET Q q 0 0 0 rg BT 69.90 408.65 Td (ge\)benefit ) Tj ET Q q 0 0 0 rg BT 115.44 408.65 Td (to ) Tj ET Q q 0 0 0 rg BT 125.71 408.65 Td (net ) Tj ET Q q 0 0 0 rg BT 140.43 408.65 Td (income ) Tj ET Q q 0 0 0 rg BT 172.36 408.65 Td (\(loss\)by ) Tj ET Q q 0 0 0 rg BT 209.59 408.65 Td (asset ) Tj ET Q q 0 0 0 rg BT 231.52 408.65 Td (and ) Tj ET Q q 0 0 0 rg BT 248.46 408.65 Td (liability ) Tj ET Q q 0 0 0 rg BT 282.07 408.65 Td (as ) Tj ET Q q 0 0 0 rg BT 292.90 408.65 Td (a ) Tj ET Q q 0 0 0 rg BT 299.84 408.65 Td (result ) Tj ET Q q 0 0 0 rg BT 324.56 408.65 Td (of ) Tj ET Q q 0 0 0 rg BT 335.39 408.65 Td (the ) Tj ET Q q 0 0 0 rg BT 350.10 408.65 Td (Unlocks ) Tj ET Q q 0 0 0 rg BT 385.93 408.65 Td (is ) Tj ET Q q 0 0 0 rg BT 395.10 408.65 Td (as ) Tj ET Q q 0 0 0 rg BT 405.93 408.65 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 364.15 330.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 364.15 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 364.15 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 364.15 73.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 334.15 330.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 334.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 334.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 334.15 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 292.15 330.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.00 292.15 73.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 292.15 73.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 292.15 73.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362 386.15 m 435 386.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435 386.15 m 508 386.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 386.15 m 581 386.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362 375.15 m 435 375.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435 375.15 m 508 375.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 375.15 m 581 375.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 364.15 m 362 364.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362 364.15 m 435 364.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435 364.15 m 508 364.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 364.15 m 581 364.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 306.15 m 362 306.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362 306.15 m 435 306.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435 306.15 m 508 306.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 306.15 m 581 306.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 279.15 m 362 279.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362 279.15 m 435 279.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435 279.15 m 508 279.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 279.15 m 581 279.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 266.15 m 362 266.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362 266.15 m 435 266.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 266.15 m 508 266.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 266.15 m 581 266.15 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 436.00 389.55 Td (Talcott Resolution) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 405.65 377.60 Td (For the years ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.00 366.60 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.00 366.60 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.20 366.60 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 352.82 Td (DAC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.50 352.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.30 352.87 Td (\(1,086) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 352.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 352.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 352.87 Td (\(144) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 352.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.50 352.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 352.82 Td (\(419) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 352.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 338.72 Td (SIA) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.80 338.77 Td (\(72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 338.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.80 338.77 Td (\(82) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 338.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 338.72 Td (\(22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 338.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 324.72 Td (URR) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 324.72 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.15 324.72 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 324.72 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 310.72 Td (Death and Other Insurance Benefit Reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 310.72 Td (336) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 310.72 Td (247) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 310.72 Td (\(333) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 310.72 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 296.83 Td (Total \(before tax\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.50 296.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.80 296.77 Td (\(806) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 296.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 296.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.15 296.72 Td (47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.50 296.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 296.72 Td (\(734) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 296.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 282.72 Td (Income tax effect) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.80 282.77 Td (\(281) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 282.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.15 282.72 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 282.72 Td (\(261) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 282.72 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 269.88 Td (Total \(after-tax\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 364.50 269.88 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.80 269.93 Td (\(525) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.15 269.88 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 269.88 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.15 269.88 Td (31) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 510.50 269.88 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.80 269.88 Td (\(473) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 269.88 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 248.65 Td (The Unlock char) Tj ET Q q 0 0 0 rg BT 98.51 248.65 Td (ge for the year ended December 31, 2013 was primarily due to the Japan hedge cost assumption changes in the first ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 236.65 Td (quarter) Tj ET Q q 0 0 0 rg BT 59.42 236.65 Td (, partially of) Tj ET Q q 0 0 0 rg BT 108.38 236.65 Td (fset by actual separate account returns above our aggregated estimated returns during the period. ) Tj ET Q q 0 0 0 rg BT 496.66 236.65 Td (The hedge cost ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 224.65 Td (assumption changes for the year ended December 31, 2013 included a char) Tj ET Q q 0 0 0 rg BT 331.21 224.65 Td (ge of $887, before tax, related to the elimination of future ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 212.65 Td (estimated gross profits on the Japan variable annuity block based on increased costs associated with expanding the Japan variable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 200.65 Td (annuity hedging program in 2013.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 182.65 Td (The Unlock benefit for the year ended December31, 2012 was driven primarily by actual separate account returns above our aggregated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 170.65 Td (estimated return, partially of) Tj ET Q q 0 0 0 rg BT 145.17 170.65 Td (fset by policyholder assumption changes which reduced expected future gross profits including additional ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 158.65 Td (costs associated with the U.S. variable annuity macro hedge program.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 140.65 Td (The Unlock char) Tj ET Q q 0 0 0 rg BT 98.51 140.65 Td (ge for the year ended December31, 201) Tj ET Q q 0 0 0 rg BT 258.62 140.65 Td (1 was driven primarily by policyholder assumption changes which reduced ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 128.65 Td (expected future gross profits including additional costs associated with implementing the Japan hedging strategy and the U.S. variable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 116.65 Td (annuity macro hedge program, as well as actual separate account returns below our aggregated estimated return.) Tj ET Q endstream endobj 127 0 obj <> endobj 128 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (For most annuity contracts, the Company estimates gross profits over 20years as EGPs emer) Tj ET Q q 0 0 0 rg BT 403.75 713.10 Td (ging subsequent to that timeframe are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (immaterial. Products sold in a particular year are aggregated into cohorts. Future gross profits for each cohort are projected over the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (estimated lives of the underlying contracts, based on future account value projections for variable annuity) Tj ET Q q 0 0 0 rg BT 453.21 689.10 Td (. ) Tj ET Q q 0 0 0 rg BT 458.03 689.10 Td (The projection of future ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (account values requires the use of certain assumptions including: separate account returns; separate account fund mix; fees assessed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (against the contract holder) Tj ET Q q 0 0 0 rg BT 137.66 665.10 Td () Tj ET Q q 0 0 0 rg BT 140.44 665.10 Td (s account balance; surrender and lapse rates; interest mar) Tj ET Q q 0 0 0 rg BT 367.94 665.10 Td (gin; mortality; and the extent and duration of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (hedging activities and hedging costs. Changes in these assumptions and, in addition, changes to other policyholder behavior assumptions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (such as resets, partial surrenders, reaction to price increases, and asset allocations causes EGPs to fluctuate which impacts earnings.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (The Company determines EGPs from a single deterministic reversion to mean \(R) Tj ET Q q 0 0 0 rg BT 360.54 623.10 Td (TM\) separate account return projection which is an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (estimation technique commonly used by insurance entities to project future separate account returns. ) Tj ET Q q 0 0 0 rg BT 436.19 611.10 Td (Through this estimation technique, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 87.88 599.10 Td (s DAC model is adjusted to reflect actual account values at the end of each quarter) Tj ET Q q 0 0 0 rg BT 417.48 599.10 Td (. ) Tj ET Q q 0 0 0 rg BT 422.30 599.10 Td (Through consideration of recent ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (market returns, the Company will unlock, or adjust, projected returns over a future period so that the account value returns to the long-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (term expected rate of return, providing that those projected returns do not exceed certain caps or floors. ) Tj ET Q q 0 0 0 rg BT 446.99 575.10 Td (This Unlock for future separate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (account returns is determined each quarter) Tj ET Q q 0 0 0 rg BT 200.59 563.10 Td (. Under R) Tj ET Q q 0 0 0 rg BT 239.15 563.10 Td (TM, the expected long term weighted average rate of return is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.61 563.10 Td (8.3%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.44 563.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.87 563.10 Td (5.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.37 563.10 Td (% for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (U.S. and Japan, respectively) Tj ET Q q 0 0 0 rg BT 144.15 551.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (In the third quarter of each year) Tj ET Q q 0 0 0 rg BT 157.70 533.10 Td (, the Company completes a comprehensive non-market related policyholder behavior assumption study ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (and incorporates the results of those studies into its projection of future gross profits. ) Tj ET Q q 0 0 0 rg BT 372.83 521.10 Td (Additionally) Tj ET Q q 0 0 0 rg BT 422.73 521.10 Td (, throughout the year) Tj ET Q q 0 0 0 rg BT 505.64 521.10 Td (, the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (evaluates various aspects of policyholder behavior and periodically revises its policyholder assumptions as credible emer) Tj ET Q q 0 0 0 rg BT 515.62 509.10 Td (ging data ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (indicates that changes are warranted. ) Tj ET Q q 0 0 0 rg BT 181.25 497.10 Td (The Company will continue to evaluate its assumptions related to policyholder behavior as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (initiatives to reduce the size of the variable annuity business are implemented by management. Upon completion of an annual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (assumption study or evaluation of credible new information, the Company will revise its assumptions to reflect its current best estimate. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (These assumption revisions will change the projected account values and the related EGPs in the DAC, SIA) Tj ET Q q 0 0 0 rg BT 462.78 461.10 Td ( and URR amortization ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (models, as well as the death and other insurance benefit reserving model.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.10 Td (All assumption changes that af) Tj ET Q q 0 0 0 rg BT 154.63 431.10 Td (fect the estimate of future EGPs including the update of current account values, the use of the R) Tj ET Q q 0 0 0 rg BT 537.23 431.10 Td (TM ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.10 Td (estimation technique and policyholder behavior assumptions are considered an Unlock in the period of revision. ) Tj ET Q q 0 0 0 rg BT 481.38 419.10 Td (An Unlock adjusts ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.10 Td (DAC, SIA, URR and death and other insurance benefit reserve balances in the Consolidated Balance Sheets with an of) Tj ET Q q 0 0 0 rg BT 506.18 407.10 Td (fsetting benefit or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.10 Td (char) Tj ET Q q 0 0 0 rg BT 48.53 395.10 Td (ge in the Consolidated Statements of Operations in the period of the revision. ) Tj ET Q q 0 0 0 rg BT 359.58 395.10 Td (An Unlock that results in an after) Tj ET Q q 0 0 0 rg BT 492.67 395.10 Td (-tax benefit generally ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (occurs as a result of actual experience or future expectations of product profitability being favorable compared to previous estimates. ) Tj ET Q q 0 0 0 rg BT 565.19 383.10 Td (An ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (Unlock that results in an after) Tj ET Q q 0 0 0 rg BT 149.87 371.10 Td (-tax char) Tj ET Q q 0 0 0 rg BT 184.95 371.10 Td (ge generally occurs as a result of actual experience or future expectations of product profitability ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.10 Td (being unfavorable compared to previous estimates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (EGPs are also used to determine the expected excess benefits and assessments included in the measurement of death and other insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (benefit reserves. ) Tj ET Q q 0 0 0 rg BT 99.34 329.10 Td (These excess benefits and assessments are derived from a range of stochastic scenarios that have been calibrated to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.10 Td (Company) Tj ET Q q 0 0 0 rg BT 73.17 317.10 Td (s R) Tj ET Q q 0 0 0 rg BT 85.63 317.10 Td (TM separate account returns. ) Tj ET Q q 0 0 0 rg BT 204.56 317.10 Td (The determination of death and other insurance benefit reserves is also impacted by discount ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.10 Td (rates, lapses, volatilities, mortality assumptions and benefit utilization, including assumptions around annuitization rates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.10 Td (An Unlock revises EGPs, on a quarterly basis, to reflect market updates of policyholder account value and the Company) Tj ET Q q 0 0 0 rg BT 515.81 287.10 Td (s current best ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (estimate assumptions. Modifications to the Company) Tj ET Q q 0 0 0 rg BT 247.03 275.10 Td (s hedging programs may impact EGPs, and correspondingly impact DAC ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.10 Td (recoverability) Tj ET Q q 0 0 0 rg BT 86.38 263.10 Td (. ) Tj ET Q q 0 0 0 rg BT 90.83 263.10 Td (After each quarterly Unlock, the Company also tests the aggregate recoverability of DAC by comparing the DAC balance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.10 Td (to the present value of future EGPs. ) Tj ET Q q 0 0 0 rg BT 176.84 251.10 Td (The mar) Tj ET Q q 0 0 0 rg BT 210.25 251.10 Td (gin between the DAC balance and the present value of future EGPs for U.S. individual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.10 Td (variable annuities was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 122.86 239.10 Td (38%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.19 239.10 Td ( as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.35 239.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.93 239.10 Td (. If the mar) Tj ET Q q 0 0 0 rg BT 288.17 239.10 Td (gin between the DAC asset and the present value of future EGPs is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.10 Td (exhausted, then further reductions in EGPs would cause portions of DAC to be unrecoverable and the DAC asset would be written down ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.10 Td (to equal future EGPs.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 197.10 Td (Evaluation of Other-Than-T) Tj ET Q q 0 0 0 rg BT 148.37 197.10 Td (emporary Impairments on ) Tj ET Q q 0 0 0 rg BT 258.29 197.10 Td (A) Tj ET Q q 0 0 0 rg BT 264.21 197.10 Td (vailable-for-Sale Securities and V) Tj ET Q q 0 0 0 rg BT 402.27 197.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 438.85 197.10 Td (Allowances on Mortgage Loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.10 Td (The Company has a monitoring process overseen by a committee of investment and accounting professionals that identifies investments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.10 Td (that are subject to an enhanced evaluation on a quarterly basis to determine if an other) Tj ET Q q 0 0 0 rg BT 375.33 167.10 Td (-than-temporary impairment \(impairment\) is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.10 Td (present for available-for) Tj ET Q q 0 0 0 rg BT 127.92 155.10 Td (-sale \("AFS"\) securities or a valuation allowance is required for mortgage loans. ) Tj ET Q q 0 0 0 rg BT 451.08 155.10 Td (This evaluation is a quantitative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.10 Td (and qualitative process, which is subject to risks and uncertainties. For further discussion of the accounting policies, see the Significant ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.10 Td (Investment ) Tj ET Q q 0 0 0 rg BT 77.88 131.10 Td (Accounting Policies Section in Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.91 131.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.91 131.10 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.24 131.10 Td (Basis of Presentation and Significant ) Tj ET Q q 0 0 0 rg BT 388.95 131.10 Td (Accounting Policies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.77 131.10 Td ( of Notes to Consolidated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 119.10 Td (Financial Statements. For a discussion of impairments recorded, see the Other) Tj ET Q q 0 0 0 rg BT 343.44 119.10 Td (-Than-T) Tj ET Q q 0 0 0 rg BT 376.06 119.10 Td (emporary Impairments within the Investment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 107.10 Td (Portfolio Risks and Risk Management section of the MD&A.) Tj ET Q endstream endobj 129 0 obj <> endobj 130 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (64) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Living Benefits Required to be Fair V) Tj ET Q q 0 0 0 rg BT 185.95 713.25 Td (alued \(in Other Policyholder Funds and Benefits Payable) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.90 713.25 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Fair values for GMWB and GMAB contracts are calculated using the income approach based upon internally developed models because ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (active, observable markets do not exist for those items. ) Tj ET Q q 0 0 0 rg BT 253.76 683.25 Td (The fair value of the Company) Tj ET Q q 0 0 0 rg BT 379.55 683.25 Td (s guaranteed benefit liabilities, classified as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (embedded derivatives, and the related reinsurance and customized freestanding derivatives is calculated as an aggregation of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (following components: Best Estimate Claims Payments; Credit Standing ) Tj ET Q q 0 0 0 rg BT 324.26 659.25 Td (Adjustment; and Mar) Tj ET Q q 0 0 0 rg BT 409.62 659.25 Td (gins. ) Tj ET Q q 0 0 0 rg BT 431.11 659.25 Td (The resulting aggregation is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (reconciled or calibrated, if necessary) Tj ET Q q 0 0 0 rg BT 177.72 647.25 Td (, to market information that is, or may be, available to the Company) Tj ET Q q 0 0 0 rg BT 448.94 647.25 Td (, but may not be observable by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (other market participants, including reinsurance discussions and transactions. ) Tj ET Q q 0 0 0 rg BT 342.90 635.25 Td (The Company believes the aggregation of these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (components, as necessary and as reconciled or calibrated to the market information available to the Company) Tj ET Q q 0 0 0 rg BT 468.47 623.25 Td (, results in an amount that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (the Company would be required to transfer) Tj ET Q q 0 0 0 rg BT 203.27 611.25 Td (, or receive, for an asset, to or from market participants in an active liquid market, if one ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (existed, for those market participants to assume the risks associated with the guaranteed minimum benefits and the related reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (and customized derivatives. ) Tj ET Q q 0 0 0 rg BT 145.17 587.25 Td (The fair value is likely to materially diver) Tj ET Q q 0 0 0 rg BT 311.88 587.25 Td (ge from the ultimate settlement of the liability as the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (believes settlement will be based on our best estimate assumptions rather than those best estimate assumptions plus risk mar) Tj ET Q q 0 0 0 rg BT 527.89 575.25 Td (gins. In the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (absence of any transfer of the guaranteed benefit liability to a third party) Tj ET Q q 0 0 0 rg BT 320.73 563.25 Td (, the release of risk mar) Tj ET Q q 0 0 0 rg BT 414.40 563.25 Td (gins is likely to be reflected as realized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (gains in future periods) Tj ET Q q 0 0 0 rg BT 123.79 551.25 Td ( net income. For further discussion on the impact of fair value changes from living benefits see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.84 551.25 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.84 551.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.17 551.25 Td (Fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (V) Tj ET Q q 0 0 0 rg BT 37.61 539.25 Td (alue Measurements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.08 539.25 Td ( of Notes to Consolidated Financial Statements and for a discussion on the sensitivities of certain living benefits due ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (to capital market factors see ) Tj ET Q q 0 0 0 rg BT 145.99 527.25 Td (V) Tj ET Q q 0 0 0 rg BT 152.10 527.25 Td (ariable Product Guarantee Risks and Risk Management section of the MD&A.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (Goodwill Impairment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (Goodwill balances are reviewed for impairment at least annually or more frequently if events occur or circumstances change that would ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (indicate that a triggering event for a potential impairment has occurred. ) Tj ET Q q 0 0 0 rg BT 321.49 479.25 Td (The goodwill impairment test follows a two-step process. In the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.25 Td (first step, the fair value of a reporting unit is compared to its carrying value. If the carrying value of a reporting unit exceeds its fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.25 Td (value, the second step of the impairment test is performed for purposes of measuring the impairment. In the second step, the fair value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (the reporting unit is allocated to all of the assets and liabilities of the reporting unit to determine an implied goodwill value. If the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.25 Td (carrying amount of the reporting unit) Tj ET Q q 0 0 0 rg BT 182.85 431.25 Td (s goodwill exceeds the implied goodwill value, an impairment loss is recognized in an amount ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (equal to that excess.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (Management) Tj ET Q q 0 0 0 rg BT 86.48 401.25 Td (s determination of the fair value of each reporting unit incorporates multiple inputs into discounted cash flow calculations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (including assumptions that market participants would make in valuing the reporting unit. ) Tj ET Q q 0 0 0 rg BT 388.94 389.25 Td (Assumptions include levels of economic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.25 Td (capital, future business growth, earnings projections, assets under management for Mutual Funds, and the weighted average cost of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (capital used for purposes of discounting. Decreases in the amount of economic capital allocated to a reporting unit, decreases in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.25 Td (business growth, decreases in earnings projections and increases in the weighted average cost of capital will all cause a reporting unit) Tj ET Q q 0 0 0 rg BT 567.71 353.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.25 Td (fair value to decrease.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.25 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 323.25 Td ( reporting unit is defined as an operating segment or one level below an operating segment. ) Tj ET Q q 0 0 0 rg BT 405.38 323.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 465.09 323.25 Td (s reporting units, for which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.25 Td (goodwill has been allocated, are equivalent to the Company) Tj ET Q q 0 0 0 rg BT 273.37 311.25 Td (s operating segments as there is no discrete financial information available ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.25 Td (for the separate components of the operating segment, all of the components of the segment have similar economic characteristics, and it ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.25 Td (is the segment level that management reviews. ) Tj ET Q q 0 0 0 rg BT 225.15 287.25 Td (The Group Benefits, Consumer Markets and Mutual Funds operating segments all have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (equivalent reporting units. Goodwill associated with the June30, 2000 buyback of Hartford Life, Inc. was allocated to each of Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.25 Td (Life) Tj ET Q q 0 0 0 rg BT 50.93 263.25 Td (s reporting units based on the reporting unit's fair value of in-force business at the time of the buyback. ) Tj ET Q q 0 0 0 rg BT 464.30 263.25 Td (Although this goodwill was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.25 Td (allocated to each reporting unit, as shown in the table below) Tj ET Q q 0 0 0 rg BT 271.06 251.25 Td (, it is held in Corporate for segment reporting.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 233.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 85.36 233.25 Td (value ) Tj ET Q q 0 0 0 rg BT 109.52 233.25 Td (of ) Tj ET Q q 0 0 0 rg BT 120.35 233.25 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 158.40 233.25 Td (allocated ) Tj ET Q q 0 0 0 rg BT 196.99 233.25 Td (to ) Tj ET Q q 0 0 0 rg BT 207.27 233.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 246.43 233.25 Td (units ) Tj ET Q q 0 0 0 rg BT 268.38 233.25 Td (is ) Tj ET Q q 0 0 0 rg BT 277.54 233.25 Td (as ) Tj ET Q q 0 0 0 rg BT 288.38 233.25 Td (follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 207.75 219.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.00 207.75 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 207.75 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 207.75 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 207.75 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 207.75 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 207.75 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 170.75 219.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.00 170.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 170.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 170.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 170.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 170.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 170.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 142.75 219.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.00 142.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 142.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 142.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 142.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 142.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 142.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 116.75 219.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.00 116.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 116.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 116.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 116.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 116.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 116.75 55.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 207.75 m 251 207.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 184.75 m 251 184.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 251 207.75 m 306 207.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 251 184.75 m 306 184.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 207.75 m 361 207.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 184.75 m 361 184.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 207.75 m 416 207.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 184.75 m 416 184.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 207.75 m 471 207.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 184.75 m 471 184.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 471 207.75 m 526 207.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 471 184.75 m 526 184.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 526 207.75 m 581 207.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 526 184.75 m 581 184.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 116.75 m 251 116.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 251 116.75 m 306 116.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 116.75 m 361 116.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 116.75 m 416 116.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 116.75 m 471 116.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 471 116.75 m 526 116.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 526 116.75 m 581 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 103.75 m 251 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251 103.75 m 306 103.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 116.75 m 361 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 103.75 m 361 103.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 116.75 m 416 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 103.75 m 416 103.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 116.75 m 471 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 103.75 m 471 103.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 471 116.75 m 526 116.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 103.75 m 526 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 103.75 m 581 103.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 285.70 212.20 Td (As of December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.70 212.20 Td (As of December31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 261.50 198.20 Td (Segment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.45 189.20 Td (Goodwill) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 310.60 198.20 Td (Goodwill in) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.00 189.20 Td (Corporate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 378.15 189.20 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.50 198.20 Td (Segment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.45 189.20 Td (Goodwill) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 475.60 198.20 Td (Goodwill in) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.00 189.20 Td (Corporate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.15 189.20 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 175.32 Td (Group Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.50 175.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.15 175.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.50 175.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.15 175.32 Td (138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 175.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.15 175.32 Td (138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.50 175.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 175.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.50 175.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 175.32 Td (138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.50 175.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 175.32 Td (138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 161.32 Td (Consumer Markets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.15 161.32 Td (119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 161.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.15 161.32 Td (119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 161.32 Td (119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 161.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 161.32 Td (119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 147.32 Td (Mutual Funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.15 147.32 Td (149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 147.32 Td (92) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.15 147.32 Td (241) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 147.32 Td (149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 147.32 Td (92) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 147.32 Td (241) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 133.32 Td (Talcott Resolution:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 120.32 Td (Retirement Plans [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.15 120.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 120.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.15 120.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 120.32 Td (87) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 120.32 Td (69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 120.32 Td (156) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 107.48 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 253.50 107.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.15 107.48 Td (268) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.50 107.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 342.15 107.48 Td (230) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.50 107.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 397.15 107.48 Td (498) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.50 107.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.15 107.48 Td (355) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.50 107.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.15 107.48 Td (299) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 528.50 107.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 107.48 Td (654) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 93.45 Td ([1] For further information, see Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 168.25 93.45 Td (2) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 172.75 93.45 Td ( - Business Dispositions of Notes to Consolidated Financial Statements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 78.45 Td (In 2013, the Company completed the sale of its Retirement Plans business to Mass Mutual. ) Tj ET Q q 0 0 0 rg BT 400.34 78.45 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 449.68 78.45 Td (, the carrying value of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 66.45 Td (reporting unit's goodwill of $156 was eliminated and included in reinsurance loss on disposition in the Company's Consolidated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 54.45 Td (Statements of Operations.) Tj ET Q endstream endobj 131 0 obj <> endobj 132 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The annual goodwill assessment for the Mutual Funds, Group Benefits, and Consumer Markets reporting units was completed during the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (fourth quarter of 2013, which resulted in no write-downs of goodwill for the year ended December 31, 2013. ) Tj ET Q q 0 0 0 rg BT 470.83 701.10 Td (All reporting units passed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (the first step of their annual impairment test with a significant mar) Tj ET Q q 0 0 0 rg BT 296.52 689.10 Td (gin.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (For ) Tj ET Q q 0 0 0 rg BT 48.02 671.10 Td (information ) Tj ET Q q 0 0 0 rg BT 97.86 671.10 Td (on ) Tj ET Q q 0 0 0 rg BT 110.48 671.10 Td (the ) Tj ET Q q 0 0 0 rg BT 125.33 671.10 Td (results ) Tj ET Q q 0 0 0 rg BT 154.06 671.10 Td (of ) Tj ET Q q 0 0 0 rg BT 165.02 671.10 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 203.20 671.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 251.93 671.10 Td (tests ) Tj ET Q q 0 0 0 rg BT 272.33 671.10 Td (performed ) Tj ET Q q 0 0 0 rg BT 316.61 671.10 Td (in ) Tj ET Q q 0 0 0 rg BT 327.01 671.10 Td (2012 ) Tj ET Q q 0 0 0 rg BT 349.64 671.10 Td (and ) Tj ET Q q 0 0 0 rg BT 366.71 671.10 Td (201) Tj ET Q q 0 0 0 rg BT 381.33 671.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 388.96 671.10 Td (see ) Tj ET Q q 0 0 0 rg BT 404.36 671.10 Td (Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.42 671.10 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.42 671.10 Td ( ) Tj ET Q q 0 0 0 rg BT 434.05 671.10 Td (- ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.01 671.10 Td (Goodwill) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.78 671.10 Td ( ) Tj ET Q q 0 0 0 rg BT 480.41 671.10 Td (of ) Tj ET Q q 0 0 0 rg BT 491.37 671.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 517.33 671.10 Td (to ) Tj ET Q q 0 0 0 rg BT 527.73 671.10 Td (Consolidated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 71.21 659.10 Td (Statements.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (V) Tj ET Q q 0 0 0 rg BT 37.06 641.10 Td (aluation of Investments and Derivative Instruments ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (A) Tj ET Q q 0 0 0 rg BT 37.06 623.10 Td (vailable-for) Tj ET Q q 0 0 0 rg BT 84.07 623.10 Td (-Sale Securities, Fixed Maturities, FV) Tj ET Q q 0 0 0 rg BT 235.40 623.10 Td (O, Equity Securities, T) Tj ET Q q 0 0 0 rg BT 325.67 623.10 Td (rading, and Short-term Investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (The fair value of ) Tj ET Q q 0 0 0 rg BT 100.36 605.10 Td (AFS securities, fixed maturities at fair value using the fair value option \(FVO\), equity securities, trading, and short-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (term investments in an active and orderly market \(i.e., not distressed or forced liquidation\) are determined by management after ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.10 Td (considering one of three primary sources of information: third-party pricing services, independent broker quotations or pricing matrices. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (Security pricing is applied using a waterfall approach whereby publicly available prices are first sought from third-party pricing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (services, the remaining unpriced securities are submitted to independent brokers for prices, or lastly) Tj ET Q q 0 0 0 rg BT 429.89 557.10 Td (, securities are priced using a pricing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (matrix. ) Tj ET Q q 0 0 0 rg BT 62.42 545.10 Td (T) Tj ET Q q 0 0 0 rg BT 67.83 545.10 Td (ypical inputs used by these pricing methods include, but are not limited to, reported trades, benchmark yields, issuer spreads, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (bids, of) Tj ET Q q 0 0 0 rg BT 61.32 533.10 Td (fers, and/or estimated cash flows, prepayments speeds and default rates. Based on the typical trading volumes and the lack of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (quoted market prices for fixed maturities, third-party pricing services will normally derive the security prices through recent reported ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (trades for identical or similar securities making adjustments through the reporting date based upon available market observable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (information as outlined above. If there are no recent reported trades, the third party pricing services and brokers may use matrix or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (model processes to develop a security price where future cash flow expectations are developed based upon collateral performance and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (discounted at an estimated market rate. Included in the pricing of asset-backed-securities \("ABS"\) and residential mortgage-backed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (securities \("RMBS"\) are estimates of the rate of future prepayments of principal over the remaining life of the securities. Such estimates ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (are derived based on the characteristics of the underlying structure and prepayment speeds previously experienced at the interest rate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (levels projected for the underlying collateral. ) Tj ET Q q 0 0 0 rg BT 213.38 437.10 Td (Actual prepayment experience may vary from these estimates. For further discussion, see ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 45.67 425.10 Td (AFS Securities, Fixed Maturities, FVO, Equity Securities, ) Tj ET Q q 0 0 0 rg BT 280.75 425.10 Td (T) Tj ET Q q 0 0 0 rg BT 286.50 425.10 Td (rading, and Short-T) Tj ET Q q 0 0 0 rg BT 364.40 425.10 Td (erm Investments section in Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.31 425.10 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.31 425.10 Td ( of Notes to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.10 Td (The Company has analyzed the third-party pricing services' valuation methodologies and related inputs, and has also evaluated the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (various types of securities in its investment portfolio to determine an appropriate fair value hierarchy level based upon trading activity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (and the observability of market inputs. For further discussion of fair value measurement, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.56 371.10 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.56 371.10 Td ( of Notes to Consolidated Financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.10 Td (Statements.) Tj ET Q endstream endobj 133 0 obj <> endobj 134 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (66) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Derivative Instruments, including embedded derivatives within investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 698.10 Td (The fair value of derivative instruments is determined using pricing valuation models for over) Tj ET Q q 0 0 0 rg BT 407.03 698.10 Td (-the-counter \("OTC"\) derivatives that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 686.10 Td (utilize market data inputs, quoted market prices for exchanged-traded derivatives and transactions cleared through central clearing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 674.10 Td (houses \("OTC-cleared"\), or independent broker quotations. Excluding embedded and reinsurance related derivatives, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.00 674.10 Td (as of December 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 662.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 662.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.94 662.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.94 662.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.94 662.10 Td (97%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 114.27 662.10 Td ( of derivatives, based upon notional values, were priced by valuation models or quoted market prices. ) Tj ET Q q 0 0 0 rg BT 525.08 662.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 650.10 Td (remaining derivatives were priced by broker quotations. ) Tj ET Q q 0 0 0 rg BT 260.41 650.10 Td (The derivatives are valued using mid-market level inputs that are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 638.10 Td (predominantly observable in the market with the exception of the customized swap contracts that hedge GMWB liabilities. Inputs used ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 626.10 Td (to value derivatives include, but are not limited to, swap interest rates, foreign currency forward and spot rates, credit spreads and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 614.10 Td (correlations, interest and equity volatility and equity index levels. For further discussion on derivative instrument valuation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 602.10 Td (methodologies, see the Derivative Instruments, including embedded derivatives within the investments section in Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.61 602.10 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.61 602.10 Td ( of Notes to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 590.10 Td (Consolidated Financial Statements. For further discussion on GMWB and other guaranteed living benefits, valuation methodologies, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 578.10 Td (see the Living Benefits Required to be Fair ) Tj ET Q q 0 0 0 rg BT 206.28 578.10 Td (V) Tj ET Q q 0 0 0 rg BT 212.39 578.10 Td (alued section in Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.59 578.10 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.59 578.10 Td ( of Notes to Consolidated Financial Statements. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (Limited partnerships and other alternative investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (Limited partnerships and other alternative investments include hedge funds where investment company accounting has been applied to a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (wholly-owned fund of funds measured at fair value. ) Tj ET Q q 0 0 0 rg BT 244.03 533.10 Td (These funds are fair valued using the net asset value per share or equivalent ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (\(NA) Tj ET Q q 0 0 0 rg BT 52.42 521.10 Td (V\), as a practical expedient, calculated on a monthly basis and is the amount at which a unit or shareholder may redeem their ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (investment, if redemption is allowed. Certain impediments to redemption include, but are not limited to the following: 1\) redemption ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (notice periods vary and may be as long as 90 days, 2\) redemption may be restricted \(e.g. only be allowed on a quarter) Tj ET Q q 0 0 0 rg BT 501.43 497.10 Td (-end\), 3\) a holding ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (period referred to as a lock-up may be imposed whereby an investor must hold their investment for a specified period of time before they ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (can make a notice for redemption, 4\) gating provisions may limit all redemptions in a given period to a percentage of the entities' equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (interests, or may only allow an investor to redeem a portion of their investment at one time and 5\) early redemption penalties may be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (imposed that are expressed as a percentage of the amount redeemed. ) Tj ET Q q 0 0 0 rg BT 309.81 449.10 Td (The Company assesses impediments to redemption and current ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (market conditions that will restrict the redemption at the end of the notice period. For further discussion of fair value measurement, see ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.44 425.10 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.44 425.10 Td ( of Notes to Consolidated Financial Statements. In addition, certain limited partnerships and other alternative investments are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (accounted for under the equity method of accounting. For further discussion, see the Investments - Overview section of Note 1 of Notes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (to the Consolidated Financial Statements.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (V) Tj ET Q q 0 0 0 rg BT 37.06 383.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 73.65 383.10 Td (Allowance on Deferred T) Tj ET Q q 0 0 0 rg BT 176.89 383.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 189.01 383.10 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.10 Td (Deferred tax assets represent the tax benefit of future deductible temporary dif) Tj ET Q q 0 0 0 rg BT 344.80 365.10 Td (ferences and operating loss and tax credit carryforwards. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (Deferred tax assets are measured using the enacted tax rates expected to be in ef) Tj ET Q q 0 0 0 rg BT 351.72 353.10 Td (fect when such benefits are realized if there is no change ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (in tax law) Tj ET Q q 0 0 0 rg BT 70.28 341.10 Td (. Under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 149.18 341.10 Td (, we test the value of deferred tax assets for impairment on a quarterly basis at the entity level within each ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (tax jurisdiction, consistent with our filed tax returns. Deferred tax assets are reduced by a valuation allowance if, based on the weight of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.10 Td (available evidence, it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. ) Tj ET Q q 0 0 0 rg BT 495.61 317.10 Td (The determination of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.10 Td (the valuation allowance for our deferred tax assets requires management to make certain judgments and assumptions. In evaluating the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.10 Td (ability to recover deferred tax assets, we have considered all available evidence as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.29 293.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.87 293.10 Td (, including past operating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.10 Td (results, the existence of cumulative losses in the most recent years, forecasted earnings, future taxable income, and prudent and feasible ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.10 Td (tax planning strategies. In the event we determine it is not more likely than not that we will be able to realize all or part of our deferred ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.10 Td (tax assets in the future, an increase to the valuation allowance would be char) Tj ET Q q 0 0 0 rg BT 337.32 257.10 Td (ged to earnings in the period such determination is made. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.10 Td (Likewise, if it is later determined that it is more likely than not that those deferred tax assets would be realized, the previously provided ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.10 Td (valuation allowance would be reversed. Our judgments and assumptions are subject to change given the inherent uncertainty in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.10 Td (predicting future performance and specific industry and investment market conditions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.10 Td (The Company has recorded a deferred tax asset valuation allowance that is adequate to reduce the total deferred tax asset to an amount ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.10 Td (that will be more likely than not realized. ) Tj ET Q q 0 0 0 rg BT 198.77 191.10 Td (The deferred tax asset valuation allowance was $4, relating mostly to U.S. net operating losses, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.10 Td (at December 31, 2013 and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.24 179.10 Td ($58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.24 179.10 Td (, relating mostly to foreign net operating losses, at December 31, 2012. In assessing the need for a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.10 Td (valuation allowance, management considered future taxable temporary dif) Tj ET Q q 0 0 0 rg BT 328.42 167.10 Td (ference reversals, future taxable income exclusive of reversing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.10 Td (temporary dif) Tj ET Q q 0 0 0 rg BT 86.02 155.10 Td (ferences and carryforwards, taxable income in open carry back years, as well as other tax planning strategies. ) Tj ET Q q 0 0 0 rg BT 525.10 155.10 Td (These tax ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.10 Td (planning strategies include holding a portion of debt securities with market value losses until recovery) Tj ET Q q 0 0 0 rg BT 439.63 143.10 Td (, altering the level of tax exempt ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.10 Td (securities held, selling appreciated securities to of) Tj ET Q q 0 0 0 rg BT 230.42 131.10 Td (fset capital losses, business considerations such as asset-liability matching, and the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 119.10 Td (sales of certain corporate assets. Management views such tax planning strategies as prudent and feasible, and would implement them, if ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 107.10 Td (necessary) Tj ET Q q 0 0 0 rg BT 69.72 107.10 Td (, to realize the deferred tax asset. ) Tj ET Q endstream endobj 135 0 obj <> endobj 136 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (67) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Contingencies Relating to Corporate Litigation and Regulatory Matters) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Management evaluates each contingent matter separately) Tj ET Q q 0 0 0 rg BT 259.36 695.25 Td (. ) Tj ET Q q 0 0 0 rg BT 263.80 695.25 Td (A) Tj ET Q q 0 0 0 rg BT 270.47 695.25 Td ( loss is recorded if probable and reasonably estimable. Management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (establishes reserves for these contingencies at its best estimate, or) Tj ET Q q 0 0 0 rg BT 302.67 683.25 Td (, if no one number within the range of possible losses is more ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (probable than any other) Tj ET Q q 0 0 0 rg BT 125.79 671.25 Td (, the Company records an estimated reserve at the low end of the range of losses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (The Company has a quarterly monitoring process involving legal and accounting professionals. Legal personnel first identify ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (outstanding corporate litigation and regulatory matters posing a reasonable possibility of loss. ) Tj ET Q q 0 0 0 rg BT 408.74 641.25 Td (These matters are then jointly reviewed by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (accounting and legal personnel to evaluate the facts and changes since the last review in order to determine if a provision for loss should ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (be recorded or adjusted, the amount that should be recorded, and the appropriate disclosure. ) Tj ET Q q 0 0 0 rg BT 400.91 617.25 Td (The outcomes of certain contingencies ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (currently being evaluated by the Company) Tj ET Q q 0 0 0 rg BT 201.08 605.25 Td (, which relate to corporate litigation and regulatory matters, are inherently dif) Tj ET Q q 0 0 0 rg BT 510.50 605.25 Td (ficult to predict, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (and the reserves that have been established for the estimated settlement amounts are subject to significant changes. Management expects ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (that the ultimate liability) Tj ET Q q 0 0 0 rg BT 129.44 581.25 Td (, if any) Tj ET Q q 0 0 0 rg BT 156.84 581.25 Td (, with respect to such lawsuits, after consideration of provisions made for estimated losses, will not be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (material to the consolidated financial condition of the Company) Tj ET Q q 0 0 0 rg BT 286.33 569.25 Td (. In view of the uncertainties regarding the outcome of these matters, as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (well as the uncertainties regarding tax-deductibility of payments, it is possible that the ultimate cost to the Company of these matters ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (could exceed the reserve by an amount that would have a material adverse ef) Tj ET Q q 0 0 0 rg BT 338.68 545.25 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 425.05 545.25 Td (s results of operations or liquidity in a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (particular quarterly or annual period.) Tj ET Q endstream endobj 137 0 obj <> endobj 138 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (68) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (KEY) Tj ET Q q 0 0 0 rg BT 52.80 713.25 Td ( PERFORMANCE MEASURES ) Tj ET Q q 0 0 0 rg BT 194.20 713.25 Td (AND RA) Tj ET Q q 0 0 0 rg BT 232.06 713.25 Td (TIOS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 697.25 Td (The Company considers several measures and ratios to be the key performance indicators for its businesses. ) Tj ET Q q 0 0 0 rg BT 465.36 697.25 Td (The following discussions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 685.25 Td (include the more significant ratios and measures of profitability for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.22 685.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.81 685.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.81 685.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.81 685.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.25 685.25 Td (201) Tj ET Q q 0 0 0 rg BT 504.87 685.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.87 685.25 Td (. Management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 673.25 Td (believes that these ratios and measures are useful in understanding the underlying trends in ) Tj ET Q q 0 0 0 rg BT 397.33 673.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 452.58 673.25 Td (s businesses. However) Tj ET Q q 0 0 0 rg BT 542.44 673.25 Td (, these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 661.25 Td (key performance indicators should only be used in conjunction with, and not in lieu of, the results presented in the segment discussions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 649.25 Td (that follow in this MD&A. ) Tj ET Q q 0 0 0 rg BT 140.76 649.25 Td (These ratios and measures may not be comparable to other performance measures used by the Company) Tj ET Q q 0 0 0 rg BT 560.34 649.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 637.25 Td (competitors. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 621.25 Td (Definitions of Non-GAAP) Tj ET Q q 0 0 0 rg BT 140.39 621.25 Td ( and other) Tj ET Q q 0 0 0 rg BT 184.10 621.25 Td ( measur) Tj ET Q q 0 0 0 rg BT 218.08 621.25 Td (es and ratios) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (Account V) Tj ET Q q 0 0 0 rg BT 71.76 605.25 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 589.25 Td (Account value includes policyholders) Tj ET Q q 0 0 0 rg BT 184.88 589.25 Td ( balances for investment contracts and reserves for future policy benefits for insurance contracts. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 577.25 Td (Account value is a measure used by the Company because a significant portion of the Company) Tj ET Q q 0 0 0 rg BT 417.78 577.25 Td (s fee income is based upon the level of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 565.25 Td (account value. ) Tj ET Q q 0 0 0 rg BT 91.57 565.25 Td (These revenues increase or decrease with a rise or fall in the amount of account value whether caused by changes in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 553.25 Td (market or through net flows.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 537.25 Td (After) Tj ET Q q 0 0 0 rg BT 51.29 537.25 Td (-tax Mar) Tj ET Q q 0 0 0 rg BT 86.19 537.25 Td (gin, excluding buyouts and r) Tj ET Q q 0 0 0 rg BT 199.97 537.25 Td (ealized gains \(losses\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (After) Tj ET Q q 0 0 0 rg BT 52.40 521.25 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 85.81 521.25 Td (gin, excluding buyouts and realized gains \(losses\), is a non-GAAP) Tj ET Q q 0 0 0 rg BT 351.23 521.25 Td ( financial measure that the Company uses to evaluate, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (and believes is an important measure of, the Group Benefits segment) Tj ET Q q 0 0 0 rg BT 310.04 509.25 Td (s operating performance. ) Tj ET Q q 0 0 0 rg BT 411.66 509.25 Td (After) Tj ET Q q 0 0 0 rg BT 432.56 509.25 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 465.97 509.25 Td (gin is the most directly ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.25 Td (comparable U.S. GAAP) Tj ET Q q 0 0 0 rg BT 127.78 497.25 Td ( measure. ) Tj ET Q q 0 0 0 rg BT 168.41 497.25 Td (The Company believes that the measure after) Tj ET Q q 0 0 0 rg BT 349.25 497.25 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 382.67 497.25 Td (gin, excluding buyouts and realized gains ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.25 Td (\(losses\), provides investors with a valuable measure of the performance of Group Benefits because it reveals trends in the business that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (may be obscured by the ef) Tj ET Q q 0 0 0 rg BT 136.56 473.25 Td (fect of buyouts and realized gains \(losses\). ) Tj ET Q q 0 0 0 rg BT 311.23 473.25 Td (After) Tj ET Q q 0 0 0 rg BT 332.13 473.25 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 365.54 473.25 Td (gin, excluding buyouts and realized gains \(losses\), ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (should not be considered as a substitute for after) Tj ET Q q 0 0 0 rg BT 224.58 461.25 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 257.99 461.25 Td (gin and does not reflect the overall profitability of Group Benefits. ) Tj ET Q q 0 0 0 rg BT 529.13 461.25 Td (Therefore, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (the Company believes it is important for investors to evaluate both after) Tj ET Q q 0 0 0 rg BT 318.73 449.25 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 352.14 449.25 Td (gin, excluding buyouts and realized gains \(losses\), and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (after) Tj ET Q q 0 0 0 rg BT 49.62 437.25 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 83.03 437.25 Td (gin when reviewing performance. ) Tj ET Q q 0 0 0 rg BT 222.42 437.25 Td (After) Tj ET Q q 0 0 0 rg BT 243.32 437.25 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 276.73 437.25 Td (gin, excluding buyouts and realized gains \(losses\) is calculated by dividing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (core earnings excluding buyouts and realized gains \(losses\) by total core revenues excluding buyouts and realized gains \(losses\). ) Tj ET Q q 0 0 0 rg BT 547.74 425.25 Td (A) Tj ET Q q 0 0 0 rg BT 554.41 425.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (reconciliation of after) Tj ET Q q 0 0 0 rg BT 117.92 413.25 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 151.33 413.25 Td (gin to after) Tj ET Q q 0 0 0 rg BT 195.01 413.25 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 228.42 413.25 Td (gin, core earnings excluding buyouts and realized gains \(losses\) for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.08 401.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 401.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.08 401.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.08 401.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.52 401.25 Td (201) Tj ET Q q 0 0 0 rg BT 169.15 401.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.15 401.25 Td ( is set forth in the ) Tj ET Q q 0 0 0 rg BT 245.81 401.25 Td (After) Tj ET Q q 0 0 0 rg BT 266.71 401.25 Td (-tax Mar) Tj ET Q q 0 0 0 rg BT 301.24 401.25 Td (gin section within MD&A) Tj ET Q q 0 0 0 rg BT 405.96 401.25 Td ( - Group Benefits.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 385.25 Td (Assets Under Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 369.25 Td (Assets under management \(AUM\) include account values and mutual fund assets. ) Tj ET Q q 0 0 0 rg BT 369.74 369.25 Td (AUM is a measure used by the Company because a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 357.25 Td (significant portion of the Company) Tj ET Q q 0 0 0 rg BT 174.81 357.25 Td (s revenues are based upon asset values. ) Tj ET Q q 0 0 0 rg BT 334.02 357.25 Td (These revenues increase or decrease with a rise or fall in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 345.25 Td (amount of account value whether caused by changes in the market or through net flows.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 329.25 Td (Catastr) Tj ET Q q 0 0 0 rg BT 61.14 329.25 Td (ophe ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 313.25 Td (The catastrophe ratio \(a component of the loss and loss adjustment expense ratio\) represents the ratio of catastrophe losses incurred in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 301.25 Td (the current calendar year \(net of reinsurance\) to earned premiums and includes catastrophe losses incurred for both the current and prior ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 289.25 Td (accident years. ) Tj ET Q q 0 0 0 rg BT 92.86 289.25 Td (A) Tj ET Q q 0 0 0 rg BT 99.53 289.25 Td ( catastrophe is an event that causes $25 or more in industry insured property losses and af) Tj ET Q q 0 0 0 rg BT 457.58 289.25 Td (fects a significant number of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 277.25 Td (property and casualty policyholders and insurers. ) Tj ET Q q 0 0 0 rg BT 230.43 277.25 Td (The catastrophe ratio includes the ef) Tj ET Q q 0 0 0 rg BT 375.46 277.25 Td (fect of catastrophe losses, but does not include the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 265.25 Td (ef) Tj ET Q q 0 0 0 rg BT 39.09 265.25 Td (fect of reinstatement premiums.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 249.25 Td (Combined ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 231.25 Td (The combined ratio is the sum of the loss and loss adjustment expense ratio, the expense ratio and the policyholder dividend ratio. ) Tj ET Q q 0 0 0 rg BT 553.97 231.25 Td (This ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 219.25 Td (ratio is a relative measurement that describes the related cost of losses and expenses for every $100 of earned premiums. ) Tj ET Q q 0 0 0 rg BT 515.50 219.25 Td (A) Tj ET Q q 0 0 0 rg BT 522.17 219.25 Td ( combined ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 207.25 Td (ratio below 100 demonstrates underwriting profit; a combined ratio above 100 demonstrates underwriting losses.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 189.25 Td (Combined ratio befor) Tj ET Q q 0 0 0 rg BT 117.79 189.25 Td (e catastr) Tj ET Q q 0 0 0 rg BT 152.14 189.25 Td (ophes and prior accident year development) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 171.25 Td (The combined ratio before catastrophes and prior accident year development, a non-GAAP) Tj ET Q q 0 0 0 rg BT 395.44 171.25 Td ( measure, represents the combined ratio for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 159.25 Td (the current accident year) Tj ET Q q 0 0 0 rg BT 129.65 159.25 Td (, excluding the impact of catastrophes. Combined ratio is the most directly comparable U.S. GAAP) Tj ET Q q 0 0 0 rg BT 526.41 159.25 Td ( measure. ) Tj ET Q q 0 0 0 rg BT 566.68 159.25 Td (A) Tj ET Q q 0 0 0 rg BT 573.35 159.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 147.25 Td (reconciliation of combined ratio to combined ratio before prior accident year reserve development for the years ended December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 135.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 135.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.50 135.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 135.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.94 135.25 Td (201) Tj ET Q q 0 0 0 rg BT 110.57 135.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.57 135.25 Td ( is set forth in MD&A) Tj ET Q q 0 0 0 rg BT 203.62 135.25 Td ( - Property & Casualty Commercial and Consumer Markets.) Tj ET Q endstream endobj 139 0 obj <> endobj 140 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (69) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Cor) Tj ET Q q 0 0 0 rg BT 46.69 713.10 Td (e Earnings ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (Core earnings, a non-GAAP) Tj ET Q q 0 0 0 rg BT 144.44 695.10 Td ( measure, is an important measure of the Company) Tj ET Q q 0 0 0 rg BT 350.77 695.10 Td (s operating performance. ) Tj ET Q q 0 0 0 rg BT 452.77 695.10 Td (The Company believes that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (core earnings provides investors with a valuable measure of the performance of the Company) Tj ET Q q 0 0 0 rg BT 408.32 683.10 Td (s ongoing businesses because it reveals ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (trends in our insurance and financial services businesses that may be obscured by including the net ef) Tj ET Q q 0 0 0 rg BT 436.75 671.10 Td (fect of certain realized capital gains ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (and losses, discontinued operations, loss on extinguishment of debt, gains and losses on business disposition transactions, certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (restructuring char) Tj ET Q q 0 0 0 rg BT 102.12 647.10 Td (ges and the impact of Unlocks to DAC, SIA, URR and death and other insurance benefit reserve balances. Some ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (realized capital gains and losses are primarily driven by investment decisions and external economic developments, the nature and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (timing of which are unrelated to the insurance and underwriting aspects of our business. ) Tj ET Q q 0 0 0 rg BT 385.57 623.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 434.91 623.10 Td (, core earnings excludes the ef) Tj ET Q q 0 0 0 rg BT 555.78 623.10 Td (fect ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (of all realized gains and losses \(net of tax and the ef) Tj ET Q q 0 0 0 rg BT 238.74 611.10 Td (fects of DAC\) that tend to be highly variable from period to period based on capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (market conditions. ) Tj ET Q q 0 0 0 rg BT 108.25 599.10 Td (The Company believes, however) Tj ET Q q 0 0 0 rg BT 239.47 599.10 Td (, that some realized capital gains and losses are integrally related to our insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (operations, so core earnings includes net realized gains and losses such as net periodic settlements on credit derivatives and net periodic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (settlements on the Japan fixed annuity cross-currency swap. ) Tj ET Q q 0 0 0 rg BT 273.75 575.10 Td (These net realized gains and losses are directly related to an of) Tj ET Q q 0 0 0 rg BT 523.74 575.10 Td (fsetting item ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (included in the income statement such as net investment income. Net income \(loss\) is the most directly comparable U.S. GAAP) Tj ET Q q 0 0 0 rg BT 542.13 563.10 Td ( measure. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (Core earnings should not be considered as a substitute for net income \(loss\) and does not reflect the overall profitability of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (Company) Tj ET Q q 0 0 0 rg BT 73.17 539.10 Td (s business. ) Tj ET Q q 0 0 0 rg BT 118.27 539.10 Td (Therefore, the Company believes that it is useful for investors to evaluate both net income \(loss\) and core earnings ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (when reviewing the Company) Tj ET Q q 0 0 0 rg BT 154.53 527.10 Td (s performance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 33.45 509.10 Td (A) Tj ET Q q 0 0 0 rg BT 40.12 509.10 Td ( reconciliation of net income to core earnings is set forth below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 468.60 369.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 468.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 468.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 468.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 468.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 468.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 468.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 438.60 369.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 438.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 438.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 438.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 438.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 438.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 438.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 408.60 369.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 408.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 408.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 408.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 408.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 408.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 408.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 378.60 369.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 378.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 405.00 378.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 378.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 378.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 378.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 378.60 56.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 483.6 m 461 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 468.6 m 461 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 483.6 m 465 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 468.6 m 465 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 483.6 m 521 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 468.6 m 521 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 483.6 m 525 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 468.6 m 525 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 483.6 m 581 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 468.6 m 581 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 468.6 m 461 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 468.6 m 521 468.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 468.6 m 581 468.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 363.6 m 401 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 348.6 m 401 348.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 363.6 m 405 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 348.6 m 405 348.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 405 363.6 m 461 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 348.6 m 461 348.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 363.6 m 465 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 348.6 m 465 348.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465 363.6 m 521 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 348.6 m 521 348.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 521 363.6 m 525 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 348.6 m 525 348.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 363.6 m 581 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 348.6 m 581 348.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 488.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.90 488.28 Td (For the years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 473.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.50 473.28 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.50 473.28 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 542.75 473.28 Td (2011) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 458.28 Td (Net income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 407.50 458.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.15 458.28 Td (176) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.50 458.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.80 458.33 Td (\(38) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.15 458.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 458.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 458.28 Td (712) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 443.27 Td (Less: Unlock impacts on net income \(loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.80 443.32 Td (\(525) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 443.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 443.27 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 443.27 Td (\(481) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 443.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 428.27 Td (Less: Restructuring and other costs, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.80 428.32 Td (\(44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 428.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.80 428.32 Td (\(129) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 428.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 428.27 Td (\(16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 428.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 413.27 Td (Less: Income \(loss\) from discontinued operations, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.80 413.32 Td (\(134) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 413.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 413.27 Td (62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 413.27 Td (139) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 398.27 Td (Less: Loss on extinguishment of debt, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.80 398.32 Td (\(138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 398.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.80 398.32 Td (\(587) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 398.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 398.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 383.27 Td (Less: Reinsurance loss on business disposition, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.80 384.22 Td (\(24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 384.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.80 384.22 Td (\(388) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 384.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 384.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 368.27 Td (Less: Net realized capital gains \(losses\), net of tax and DAC, excluded from core earnings) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.80 369.22 Td (\(701) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 369.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.80 369.22 Td (\(410) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 369.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 369.17 Td (\(38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 369.17 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 353.28 Td (Core earnings) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 407.50 353.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.65 353.28 Td (1,742) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.50 353.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.65 353.28 Td (1,386) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 353.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 353.28 Td (1,108) Tj ET Q BT /F2 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 337.10 Td (Curr) Tj ET Q q 0 0 0 rg BT 50.58 337.10 Td (ent accident year loss and loss adjustment expense ratio befor) Tj ET Q q 0 0 0 rg BT 298.78 337.10 Td (e catastr) Tj ET Q q 0 0 0 rg BT 333.13 337.10 Td (ophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 319.10 Td (The current accident year loss and loss adjustment expense ratio before catastrophes is a measure of the cost of non-catastrophe claims ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 307.10 Td (incurred in the current accident year divided by earned premiums. Management believes that the current accident year loss and loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 295.10 Td (adjustment expense ratio before catastrophes is a performance measure that is useful to investors as it removes the impact of volatile and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 283.10 Td (unpredictable catastrophe losses and prior accident year reserve development.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 265.10 Td (Expense ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 247.10 Td (The expense ratio for the underwriting segments of Property & Casualty Commercial and Consumer Markets is the ratio of underwriting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 235.10 Td (expenses, excluding bad debt expense and certain corporate expenses, to earned premiums. Underwriting expenses include the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 223.10 Td (amortization of deferred policy acquisition costs and insurance operating costs and expenses. Deferred policy acquisition costs include ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 211.10 Td (commissions, taxes, licenses and fees and other underwriting expenses and are amortized over the policy term.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 193.10 Td (The expense ratio Group Benefits is expressed as a ratio of insurance operating costs and other expenses and amortization of deferred ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 181.10 Td (policy acquisition costs, to premiums and other considerations, excluding buyout premiums. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 163.10 Td (Fee Income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 145.10 Td (Fee income is lar) Tj ET Q q 0 0 0 rg BT 99.91 145.10 Td (gely driven from amounts collected as a result of contractually defined percentages of assets under management. ) Tj ET Q q 0 0 0 rg BT 552.61 145.10 Td (These ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 133.10 Td (fees are generally collected on a daily basis. ) Tj ET Q q 0 0 0 rg BT 209.85 133.10 Td (Therefore, the growth in assets under management either through positive net flows or net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 121.10 Td (sales, or favorable equity market performance will have a favorable impact on fee income. Conversely) Tj ET Q q 0 0 0 rg BT 440.68 121.10 Td (, either negative net flows or net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 109.10 Td (sales, or unfavorable equity market performance will reduce fee income.) Tj ET Q endstream endobj 141 0 obj <> endobj 142 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (70) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Loss and loss adjustment expense ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The loss and loss adjustment expense ratio is a measure of the cost of claims incurred in the calendar year divided by earned premium ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (and includes losses incurred for both the current and prior accident years, as well as the costs of mortality and morbidity and other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (contractholder benefits to policyholders. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (The loss and loss adjustment expense ratio is af) Tj ET Q q 0 0 0 rg BT 221.28 653.10 Td (fected by claim frequency and claim severity) Tj ET Q q 0 0 0 rg BT 400.55 653.10 Td (, particularly for shorter) Tj ET Q q 0 0 0 rg BT 495.87 653.10 Td (-tail property lines ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (of business, where the emer) Tj ET Q q 0 0 0 rg BT 142.67 641.10 Td (gence of claim frequency and severity is credible and likely indicative of ultimate losses. Claim frequency ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (represents the percentage change in the average number of reported claims per unit of exposure in the current accident year compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (that of the previous accident year) Tj ET Q q 0 0 0 rg BT 163.95 617.10 Td (. Claim severity represents the percentage change in the estimated average cost per claim in the current ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (accident year compared to that of the previous accident year) Tj ET Q q 0 0 0 rg BT 271.67 605.10 Td (. ) Tj ET Q q 0 0 0 rg BT 276.11 605.10 Td (As one of the factors used to determine pricing, the Company) Tj ET Q q 0 0 0 rg BT 525.22 605.10 Td (s practice is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (to first make an overall assumption about claim frequency and severity for a given line of business and then, as part of the ratemaking ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.10 Td (process, adjust the assumption as appropriate for the particular state, product or coverage. ) Tj ET Q q 0 0 0 rg BT 394.43 581.10 Td (Among other factors, the loss and loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (adjustment expense ratio needed for the Company to achieve its tar) Tj ET Q q 0 0 0 rg BT 300.12 569.10 Td (geted return on equity fluctuates from year to year based on changes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (in the expected investment yield over the claim settlement period, the timing of expected claim settlements and the tar) Tj ET Q q 0 0 0 rg BT 503.66 557.10 Td (geted returns set ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (by management based on the competitive environment.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (Loss ratio, excluding buyouts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (The loss ratio is utilized for the Group Benefits segment and is expressed as a ratio of benefits, losses and loss adjustment expenses to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (premiums and other considerations, excluding buyout premiums. Since Group Benefits occasionally buys a block of claims for a stated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (premium amount, the Company excludes this buyout from the loss ratio used for evaluating the underwriting results of the business as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (buyouts may distort the loss ratio. Buyout premiums represent takeover of open claim liabilities and other non-recurring premium ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (amounts.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 443.10 Td (Mutual Fund ) Tj ET Q q 0 0 0 rg BT 86.31 443.10 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (Mutual fund assets are owned by the shareholders of those funds and not by the Company and therefore are not reflected in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (Company) Tj ET Q q 0 0 0 rg BT 73.17 413.10 Td (s consolidated financial statements. Mutual fund assets are a measure used by the Company because a significant portion of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 87.88 401.10 Td (s revenues are based upon asset values. ) Tj ET Q q 0 0 0 rg BT 247.09 401.10 Td (These revenues increase or decrease with a rise or fall in the amount of account ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.10 Td (value whether caused by changes in the market or through net flows.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (New business written pr) Tj ET Q q 0 0 0 rg BT 127.53 371.10 Td (emium) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (New business written premium represents the amount of premiums char) Tj ET Q q 0 0 0 rg BT 319.30 353.10 Td (ged for policies issues to customers who were not insured with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (the Company in the previous policy term. New business written premium plus renewal policy written premium equals total written ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (premium.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (Policies in for) Tj ET Q q 0 0 0 rg BT 87.79 311.10 Td (ce) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.10 Td (Policies in force represent the number of policies with coverage in ef) Tj ET Q q 0 0 0 rg BT 307.05 293.10 Td (fect as of the end of the period. ) Tj ET Q q 0 0 0 rg BT 433.77 293.10 Td (The number of policies in force is a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.10 Td (growth measure used for Consumer Markets and standard commercial lines within Property & Casualty Commercial and is af) Tj ET Q q 0 0 0 rg BT 534.81 281.10 Td (fected by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.10 Td (both new business growth and premium renewal retention.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 251.10 Td (Policy count r) Tj ET Q q 0 0 0 rg BT 87.78 251.10 Td (etention) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.10 Td (Policy count retention represents the ratio of the number of policies renewed during the period divided by the number of policies from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.10 Td (the previous policy term period. ) Tj ET Q q 0 0 0 rg BT 161.84 221.10 Td (The number of policies available to renew from the previous policy term represents the number of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.10 Td (policies written in the previous policy term net of any cancellations of those policies. Policy count retention is af) Tj ET Q q 0 0 0 rg BT 481.48 209.10 Td (fected by a number of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.10 Td (factors, including the percentage of renewal policy quotes accepted and decisions by the Company to non-renew policies because of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.10 Td (specific policy underwriting concerns or because of a decision to reduce premium writings in certain classes of business or states. Policy ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.10 Td (count retention is also af) Tj ET Q q 0 0 0 rg BT 129.63 173.10 Td (fected by advertising and rate actions taken by competitors.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 155.10 Td (Policyholder dividend ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.10 Td (The policyholder dividend ratio is the ratio of policyholder dividends to earned premium.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 119.10 Td (Prior accident year loss and loss adjustment expense ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.10 Td (The prior year loss and loss adjustment expense ratio represents the increase \(decrease\)in the estimated cost of settling catastrophe and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.10 Td (non-catastrophe claims incurred in prior accident years as recorded in the current calendar year divided by earned premiums.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 71.10 Td (Reinstatement ) Tj ET Q q 0 0 0 rg BT 90.65 71.10 Td (pr) Tj ET Q q 0 0 0 rg BT 99.17 71.10 Td (emiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 53.10 Td (Reinstatement ) Tj ET Q q 0 0 0 rg BT 91.60 53.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 130.60 53.10 Td (represents ) Tj ET Q q 0 0 0 rg BT 174.03 53.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 216.92 53.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 243.13 53.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 282.12 53.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 302.24 53.10 Td (for ) Tj ET Q q 0 0 0 rg BT 316.79 53.10 Td (the ) Tj ET Q q 0 0 0 rg BT 331.90 53.10 Td (reinstatement ) Tj ET Q q 0 0 0 rg BT 388.66 53.10 Td (of ) Tj ET Q q 0 0 0 rg BT 399.89 53.10 Td (the ) Tj ET Q q 0 0 0 rg BT 415.00 53.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 447.89 53.10 Td (of ) Tj ET Q q 0 0 0 rg BT 459.11 53.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 508.09 53.10 Td (coverage ) Tj ET Q q 0 0 0 rg BT 547.07 53.10 Td (that ) Tj ET Q q 0 0 0 rg BT 564.96 53.10 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 41.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 65.65 41.10 Td (as ) Tj ET Q q 0 0 0 rg BT 76.48 41.10 Td (a ) Tj ET Q q 0 0 0 rg BT 83.41 41.10 Td (result ) Tj ET Q q 0 0 0 rg BT 108.13 41.10 Td (of ) Tj ET Q q 0 0 0 rg BT 118.96 41.10 Td (a ) Tj ET Q q 0 0 0 rg BT 125.90 41.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 174.48 41.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 192.54 41.10 Td (payment.) Tj ET Q endstream endobj 143 0 obj <> endobj 144 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (71) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Renewal earned price incr) Tj ET Q q 0 0 0 rg BT 137.49 713.10 Td (ease \(decr) Tj ET Q q 0 0 0 rg BT 178.48 713.10 Td (ease\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (W) Tj ET Q q 0 0 0 rg BT 40.54 695.10 Td (ritten premiums are earned over the policy term, which is six months for certain personal lines auto business and 12months for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (substantially all of the remainder of the Company) Tj ET Q q 0 0 0 rg BT 232.84 683.10 Td (s property and casualty business. Because the Company earns premiums over the 6 to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (12month term of the policies, renewal earned price increases \(decreases\)lag renewal written price increases \(decreases\)by 6 to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (12months.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (Renewal written price incr) Tj ET Q q 0 0 0 rg BT 138.05 641.10 Td (ease \(decr) Tj ET Q q 0 0 0 rg BT 179.05 641.10 Td (ease\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (Renewal written price increase \(decrease\)represents the combined ef) Tj ET Q q 0 0 0 rg BT 308.40 623.10 Td (fect of rate changes, amount of insurance and individual risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (pricing decisions per unit of exposure since the prior year) Tj ET Q q 0 0 0 rg BT 261.15 611.10 Td (. ) Tj ET Q q 0 0 0 rg BT 265.97 611.10 Td (The rate component represents the change in rate filings during the period and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (the amount of insurance represents the change in the value of the rating base, such as model year/vehicle symbol for auto, building ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (replacement costs for property and wage inflation for workers) Tj ET Q q 0 0 0 rg BT 281.77 587.10 Td ( compensation. ) Tj ET Q q 0 0 0 rg BT 344.26 587.10 Td (A) Tj ET Q q 0 0 0 rg BT 350.93 587.10 Td ( number of factors af) Tj ET Q q 0 0 0 rg BT 434.61 587.10 Td (fect renewal written price increases ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (\(decreases\)including expected loss costs as projected by the Company) Tj ET Q q 0 0 0 rg BT 317.25 575.10 Td (s pricing actuaries, rate filings approved by state regulators, risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (selection decisions made by the Company) Tj ET Q q 0 0 0 rg BT 202.30 563.10 Td (s underwriters and marketplace competition. Renewal written price changes reflect the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (property and casualty insurance market cycle. Prices tend to increase for a particular line of business when insurance carriers have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (incurred significant losses in that line of business in the recent past or the industry as a whole commits less of its capital to writing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (exposures in that line of business. Prices tend to decrease when recent loss experience has been favorable or when competition among ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.10 Td (insurance carriers increases. Renewal written price statistics are subject to change from period to period, based on a number of factors, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.10 Td (including changes in actuarial estimates and the ef) Tj ET Q q 0 0 0 rg BT 232.63 503.10 Td (fect of subsequent cancellations and non-renewals on rate achieved, and modifications ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.10 Td (made to better reflect ultimate pricing achieved.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (Return ) Tj ET Q q 0 0 0 rg BT 61.22 473.10 Td (on ) Tj ET Q q 0 0 0 rg BT 73.54 473.10 Td (Assets ) Tj ET Q q 0 0 0 rg BT 101.04 473.10 Td (\(ROA\), ) Tj ET Q q 0 0 0 rg BT 143.26 473.10 Td (cor) Tj ET Q q 0 0 0 rg BT 156.22 473.10 Td (e ) Tj ET Q q 0 0 0 rg BT 163.16 473.10 Td (earnings ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.10 Td (ROA, ) Tj ET Q q 0 0 0 rg BT 57.34 455.10 Td (core ) Tj ET Q q 0 0 0 rg BT 76.77 455.10 Td (earnings, ) Tj ET Q q 0 0 0 rg BT 115.38 455.10 Td (is ) Tj ET Q q 0 0 0 rg BT 124.27 455.10 Td (a ) Tj ET Q q 0 0 0 rg BT 130.94 455.10 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 176.12 455.10 Td ( ) Tj ET Q q 0 0 0 rg BT 178.35 455.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 215.56 455.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 251.10 455.10 Td (that ) Tj ET Q q 0 0 0 rg BT 268.32 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 282.76 455.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 323.88 455.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 343.33 455.10 Td (to ) Tj ET Q q 0 0 0 rg BT 353.33 455.10 Td (evaluate, ) Tj ET Q q 0 0 0 rg BT 391.37 455.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.03 455.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 443.02 455.10 Td (is ) Tj ET Q q 0 0 0 rg BT 451.92 455.10 Td (an ) Tj ET Q q 0 0 0 rg BT 463.58 455.10 Td (important ) Tj ET Q q 0 0 0 rg BT 504.69 455.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 540.24 455.10 Td (of, ) Tj ET Q q 0 0 0 rg BT 553.29 455.10 Td (certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.10 Td (of ) Tj ET Q q 0 0 0 rg BT 41.60 443.10 Td (the ) Tj ET Q q 0 0 0 rg BT 55.58 443.10 Td (segment) Tj ET Q q 0 0 0 rg BT 91.68 443.10 Td (s ) Tj ET Q q 0 0 0 rg BT 97.34 443.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 136.87 443.10 Td (performance. ) Tj ET Q q 0 0 0 rg BT 191.65 443.10 Td (ROA) Tj ET Q q 0 0 0 rg BT 212.22 443.10 Td ( ) Tj ET Q q 0 0 0 rg BT 213.98 443.10 Td (is ) Tj ET Q q 0 0 0 rg BT 222.42 443.10 Td (the ) Tj ET Q q 0 0 0 rg BT 236.40 443.10 Td (most ) Tj ET Q q 0 0 0 rg BT 257.61 443.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 289.92 443.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 338.32 443.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 357.87 443.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 384.73 443.10 Td ( ) Tj ET Q q 0 0 0 rg BT 386.49 443.10 Td (measure. ) Tj ET Q q 0 0 0 rg BT 423.95 443.10 Td (The ) Tj ET Q q 0 0 0 rg BT 441.26 443.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 481.91 443.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 516.44 443.10 Td (that ) Tj ET Q q 0 0 0 rg BT 533.20 443.10 Td (the ) Tj ET Q q 0 0 0 rg BT 547.18 443.10 Td (measure ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.10 Td (ROA, ) Tj ET Q q 0 0 0 rg BT 58.49 431.10 Td (core ) Tj ET Q q 0 0 0 rg BT 79.08 431.10 Td (earnings, ) Tj ET Q q 0 0 0 rg BT 118.83 431.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 156.65 431.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 196.14 431.10 Td (with ) Tj ET Q q 0 0 0 rg BT 217.30 431.10 Td (a ) Tj ET Q q 0 0 0 rg BT 225.11 431.10 Td (valuable ) Tj ET Q q 0 0 0 rg BT 262.36 431.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 299.06 431.10 Td (of ) Tj ET Q q 0 0 0 rg BT 310.77 431.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.36 431.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 380.26 431.10 Td (of ) Tj ET Q q 0 0 0 rg BT 391.97 431.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 422.55 431.10 Td (of ) Tj ET Q q 0 0 0 rg BT 434.26 431.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.86 431.10 Td (Company) Tj ET Q q 0 0 0 rg BT 491.52 431.10 Td (s ) Tj ET Q q 0 0 0 rg BT 498.79 431.10 Td (on-going ) Tj ET Q q 0 0 0 rg BT 538.28 431.10 Td (businesses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.10 Td (because ) Tj ET Q q 0 0 0 rg BT 65.45 419.10 Td (it ) Tj ET Q q 0 0 0 rg BT 73.31 419.10 Td (reveals ) Tj ET Q q 0 0 0 rg BT 103.93 419.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 130.67 419.10 Td (in ) Tj ET Q q 0 0 0 rg BT 140.75 419.10 Td (our ) Tj ET Q q 0 0 0 rg BT 156.39 419.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 200.91 419.10 Td (that ) Tj ET Q q 0 0 0 rg BT 218.21 419.10 Td (may ) Tj ET Q q 0 0 0 rg BT 237.73 419.10 Td (be ) Tj ET Q q 0 0 0 rg BT 249.47 419.10 Td (obscured ) Tj ET Q q 0 0 0 rg BT 287.88 419.10 Td (by ) Tj ET Q q 0 0 0 rg BT 300.18 419.10 Td (the ) Tj ET Q q 0 0 0 rg BT 314.70 419.10 Td (ef) Tj ET Q q 0 0 0 rg BT 322.29 419.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 339.58 419.10 Td (of ) Tj ET Q q 0 0 0 rg BT 350.21 419.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 384.16 419.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 407.57 419.10 Td (\(losses\). ) Tj ET Q q 0 0 0 rg BT 442.92 419.10 Td (ROA, ) Tj ET Q q 0 0 0 rg BT 468.84 419.10 Td (core ) Tj ET Q q 0 0 0 rg BT 488.35 419.10 Td (earnings, ) Tj ET Q q 0 0 0 rg BT 527.03 419.10 Td (should ) Tj ET Q q 0 0 0 rg BT 556.00 419.10 Td (not ) Tj ET Q q 0 0 0 rg BT 571.09 419.10 Td (be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 77.64 407.10 Td (as ) Tj ET Q q 0 0 0 rg BT 88.80 407.10 Td (a ) Tj ET Q q 0 0 0 rg BT 96.06 407.10 Td (substitute ) Tj ET Q q 0 0 0 rg BT 137.22 407.10 Td (for ) Tj ET Q q 0 0 0 rg BT 151.71 407.10 Td (ROA) Tj ET Q q 0 0 0 rg BT 172.27 407.10 Td ( ) Tj ET Q q 0 0 0 rg BT 175.10 407.10 Td (and ) Tj ET Q q 0 0 0 rg BT 192.36 407.10 Td (does ) Tj ET Q q 0 0 0 rg BT 213.52 407.10 Td (not ) Tj ET Q q 0 0 0 rg BT 229.12 407.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 257.48 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 272.52 407.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 303.11 407.10 Td (profitability ) Tj ET Q q 0 0 0 rg BT 353.71 407.10 Td (of ) Tj ET Q q 0 0 0 rg BT 364.87 407.10 Td (our ) Tj ET Q q 0 0 0 rg BT 381.02 407.10 Td (businesses. ) Tj ET Q q 0 0 0 rg BT 428.36 407.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 473.10 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 488.15 407.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 529.86 407.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 565.45 407.10 Td (it ) Tj ET Q q 0 0 0 rg BT 573.83 407.10 Td (is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.10 Td (important ) Tj ET Q q 0 0 0 rg BT 72.54 395.10 Td (for ) Tj ET Q q 0 0 0 rg BT 86.37 395.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 124.64 395.10 Td (to ) Tj ET Q q 0 0 0 rg BT 134.58 395.10 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 170.05 395.10 Td (both ) Tj ET Q q 0 0 0 rg BT 190.00 395.10 Td (ROA, ) Tj ET Q q 0 0 0 rg BT 215.77 395.10 Td (core ) Tj ET Q q 0 0 0 rg BT 235.14 395.10 Td (earnings, ) Tj ET Q q 0 0 0 rg BT 273.68 395.10 Td (and ) Tj ET Q q 0 0 0 rg BT 290.28 395.10 Td (ROA) Tj ET Q q 0 0 0 rg BT 310.85 395.10 Td ( ) Tj ET Q q 0 0 0 rg BT 313.01 395.10 Td (when ) Tj ET Q q 0 0 0 rg BT 336.83 395.10 Td (reviewing ) Tj ET Q q 0 0 0 rg BT 378.98 395.10 Td (the ) Tj ET Q q 0 0 0 rg BT 393.36 395.10 Td (Company) Tj ET Q q 0 0 0 rg BT 435.03 395.10 Td (s ) Tj ET Q q 0 0 0 rg BT 441.08 395.10 Td (performance. ) Tj ET Q q 0 0 0 rg BT 496.27 395.10 Td (ROA) Tj ET Q q 0 0 0 rg BT 516.83 395.10 Td ( ) Tj ET Q q 0 0 0 rg BT 518.99 395.10 Td (is ) Tj ET Q q 0 0 0 rg BT 527.82 395.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 570.51 395.10 Td (by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (dividing ) Tj ET Q q 0 0 0 rg BT 67.72 383.10 Td (core ) Tj ET Q q 0 0 0 rg BT 87.81 383.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 124.57 383.10 Td (by ) Tj ET Q q 0 0 0 rg BT 137.45 383.10 Td (a ) Tj ET Q q 0 0 0 rg BT 144.77 383.10 Td (two-point ) Tj ET Q q 0 0 0 rg BT 186.54 383.10 Td (average ) Tj ET Q q 0 0 0 rg BT 219.88 383.10 Td (AUM. ) Tj ET Q q 0 0 0 rg BT 247.96 383.10 Td (A) Tj ET Q q 0 0 0 rg BT 254.63 383.10 Td ( ) Tj ET Q q 0 0 0 rg BT 257.51 383.10 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 315.37 383.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.58 383.10 Td (ROA) Tj ET Q q 0 0 0 rg BT 347.14 383.10 Td ( ) Tj ET Q q 0 0 0 rg BT 350.03 383.10 Td (to ) Tj ET Q q 0 0 0 rg BT 360.69 383.10 Td (ROA, ) Tj ET Q q 0 0 0 rg BT 387.19 383.10 Td (core ) Tj ET Q q 0 0 0 rg BT 407.28 383.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 444.04 383.10 Td (for ) Tj ET Q q 0 0 0 rg BT 458.58 383.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.68 383.10 Td (years ) Tj ET Q q 0 0 0 rg BT 497.66 383.10 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.42 383.10 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 371.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.50 371.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 79.00 371.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.94 371.10 Td (201) Tj ET Q q 0 0 0 rg BT 110.57 371.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.57 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 118.07 371.10 Td (is ) Tj ET Q q 0 0 0 rg BT 127.24 371.10 Td (set ) Tj ET Q q 0 0 0 rg BT 140.85 371.10 Td (forth ) Tj ET Q q 0 0 0 rg BT 162.78 371.10 Td (in ) Tj ET Q q 0 0 0 rg BT 173.06 371.10 Td (the ) Tj ET Q q 0 0 0 rg BT 187.78 371.10 Td (ROA) Tj ET Q q 0 0 0 rg BT 208.34 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 210.84 371.10 Td (section ) Tj ET Q q 0 0 0 rg BT 241.67 371.10 Td (within ) Tj ET Q q 0 0 0 rg BT 269.72 371.10 Td (MD&A) Tj ET Q q 0 0 0 rg BT 300.28 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 302.78 371.10 Td (- ) Tj ET Q q 0 0 0 rg BT 308.61 371.10 Td (Mutual ) Tj ET Q q 0 0 0 rg BT 340.00 371.10 Td (Funds.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 88.45 353.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 108.73 353.10 Td (\(loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.09 335.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 95.72 335.10 Td (management ) Tj ET Q q 0 0 0 rg BT 148.86 335.10 Td (evaluates ) Tj ET Q q 0 0 0 rg BT 188.11 335.10 Td (profitability ) Tj ET Q q 0 0 0 rg BT 237.92 335.10 Td (of ) Tj ET Q q 0 0 0 rg BT 248.30 335.10 Td (the ) Tj ET Q q 0 0 0 rg BT 262.56 335.10 Td (P&C ) Tj ET Q q 0 0 0 rg BT 284.62 335.10 Td (businesses ) Tj ET Q q 0 0 0 rg BT 328.89 335.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 368.15 335.10 Td (on ) Tj ET Q q 0 0 0 rg BT 380.20 335.10 Td (the ) Tj ET Q q 0 0 0 rg BT 394.46 335.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 416.51 335.10 Td (of ) Tj ET Q q 0 0 0 rg BT 426.89 335.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 480.59 335.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 499.85 335.10 Td (\(loss\). ) Tj ET Q q 0 0 0 rg BT 526.62 335.10 Td (Underwriting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 50.21 323.10 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 73.93 323.10 Td (is ) Tj ET Q q 0 0 0 rg BT 82.10 323.10 Td (a ) Tj ET Q q 0 0 0 rg BT 88.03 323.10 Td (before-tax ) Tj ET Q q 0 0 0 rg BT 130.61 323.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 165.43 323.10 Td (that ) Tj ET Q q 0 0 0 rg BT 181.92 323.10 Td (represents ) Tj ET Q q 0 0 0 rg BT 223.95 323.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 252.09 323.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 293.58 323.10 Td (less ) Tj ET Q q 0 0 0 rg BT 310.08 323.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 344.89 323.10 Td (losses, ) Tj ET Q q 0 0 0 rg BT 372.78 323.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 389.84 323.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 435.22 323.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 472.81 323.10 Td (and ) Tj ET Q q 0 0 0 rg BT 488.75 323.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 541.90 323.10 Td (expenses. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 47.81 311.10 Td (income ) Tj ET Q q 0 0 0 rg BT 79.12 311.10 Td (is ) Tj ET Q q 0 0 0 rg BT 87.66 311.10 Td (the ) Tj ET Q q 0 0 0 rg BT 101.75 311.10 Td (most ) Tj ET Q q 0 0 0 rg BT 123.06 311.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 155.48 311.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 203.99 311.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 230.85 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 232.72 311.10 Td (measure. ) Tj ET Q q 0 0 0 rg BT 270.40 311.10 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 326.15 311.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 345.24 311.10 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 369.33 311.10 Td (is ) Tj ET Q q 0 0 0 rg BT 377.88 311.10 Td (influenced ) Tj ET Q q 0 0 0 rg BT 421.95 311.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 473.81 311.10 Td (by ) Tj ET Q q 0 0 0 rg BT 485.68 311.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 514.20 311.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 552.18 311.10 Td (growth ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.10 Td (and ) Tj ET Q q 0 0 0 rg BT 48.06 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 62.39 299.10 Td (adequacy ) Tj ET Q q 0 0 0 rg BT 102.27 299.10 Td (of ) Tj ET Q q 0 0 0 rg BT 112.72 299.10 Td ( ) Tj ET Q q 0 0 0 rg BT 114.83 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 129.17 299.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 175.87 299.10 Td (pricing. ) Tj ET Q q 0 0 0 rg BT 208.81 299.10 Td (Underwriting ) Tj ET Q q 0 0 0 rg BT 264.81 299.10 Td (profitability ) Tj ET Q q 0 0 0 rg BT 314.70 299.10 Td (over ) Tj ET Q q 0 0 0 rg BT 334.59 299.10 Td (time ) Tj ET Q q 0 0 0 rg BT 354.48 299.10 Td (is ) Tj ET Q q 0 0 0 rg BT 363.27 299.10 Td (also ) Tj ET Q q 0 0 0 rg BT 381.50 299.10 Td (greatly ) Tj ET Q q 0 0 0 rg BT 411.38 299.10 Td (influenced ) Tj ET Q q 0 0 0 rg BT 455.70 299.10 Td (by ) Tj ET Q q 0 0 0 rg BT 467.82 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 482.15 299.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 528.85 299.10 Td (underwriting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.10 Td (discipline, ) Tj ET Q q 0 0 0 rg BT 75.45 287.10 Td (which ) Tj ET Q q 0 0 0 rg BT 102.46 287.10 Td (seeks ) Tj ET Q q 0 0 0 rg BT 126.70 287.10 Td (to ) Tj ET Q q 0 0 0 rg BT 137.05 287.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 170.71 287.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 209.38 287.10 Td (to ) Tj ET Q q 0 0 0 rg BT 219.74 287.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 237.87 287.10 Td (through ) Tj ET Q q 0 0 0 rg BT 271.55 287.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 311.88 287.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 329.45 287.10 Td (selection ) Tj ET Q q 0 0 0 rg BT 367.56 287.10 Td (and ) Tj ET Q q 0 0 0 rg BT 384.57 287.10 Td (diversification, ) Tj ET Q q 0 0 0 rg BT 447.40 287.10 Td (its ) Tj ET Q q 0 0 0 rg BT 459.42 287.10 Td (management ) Tj ET Q q 0 0 0 rg BT 513.09 287.10 Td (of ) Tj ET Q q 0 0 0 rg BT 523.99 287.10 Td (claims, ) Tj ET Q q 0 0 0 rg BT 555.16 287.10 Td (its ) Tj ET Q q 0 0 0 rg BT 567.18 287.10 Td (use ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (of ) Tj ET Q q 0 0 0 rg BT 41.29 275.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 88.82 275.10 Td (and ) Tj ET Q q 0 0 0 rg BT 104.72 275.10 Td (its ) Tj ET Q q 0 0 0 rg BT 115.62 275.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 142.63 275.10 Td (to ) Tj ET Q q 0 0 0 rg BT 151.86 275.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 184.41 275.10 Td (its ) Tj ET Q q 0 0 0 rg BT 195.31 275.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 228.98 275.10 Td (ratio, ) Tj ET Q q 0 0 0 rg BT 251.26 275.10 Td (which ) Tj ET Q q 0 0 0 rg BT 277.15 275.10 Td (it ) Tj ET Q q 0 0 0 rg BT 284.16 275.10 Td (accomplishes ) Tj ET Q q 0 0 0 rg BT 339.49 275.10 Td (through ) Tj ET Q q 0 0 0 rg BT 372.05 275.10 Td (economies ) Tj ET Q q 0 0 0 rg BT 416.27 275.10 Td (of ) Tj ET Q q 0 0 0 rg BT 426.06 275.10 Td (scale ) Tj ET Q q 0 0 0 rg BT 447.50 275.10 Td (and ) Tj ET Q q 0 0 0 rg BT 463.39 275.10 Td (its ) Tj ET Q q 0 0 0 rg BT 474.29 275.10 Td (management ) Tj ET Q q 0 0 0 rg BT 526.84 275.10 Td (of ) Tj ET Q q 0 0 0 rg BT 536.62 275.10 Td (acquisition ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 53.85 263.10 Td (and ) Tj ET Q q 0 0 0 rg BT 70.65 263.10 Td (other ) Tj ET Q q 0 0 0 rg BT 93.55 263.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 147.55 263.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 188.34 263.10 Td (The ) Tj ET Q q 0 0 0 rg BT 206.24 263.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 247.48 263.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 282.59 263.10 Td (that ) Tj ET Q q 0 0 0 rg BT 299.94 263.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 353.95 263.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 373.52 263.10 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 398.10 263.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 434.89 263.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 473.35 263.10 Td (with ) Tj ET Q q 0 0 0 rg BT 493.48 263.10 Td (a ) Tj ET Q q 0 0 0 rg BT 500.28 263.10 Td (valuable ) Tj ET Q q 0 0 0 rg BT 536.50 263.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 572.17 263.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.10 Td (before-tax ) Tj ET Q q 0 0 0 rg BT 75.90 251.10 Td (profitability ) Tj ET Q q 0 0 0 rg BT 126.99 251.10 Td (derived ) Tj ET Q q 0 0 0 rg BT 160.29 251.10 Td (from ) Tj ET Q q 0 0 0 rg BT 183.05 251.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 238.02 251.10 Td (activities, ) Tj ET Q q 0 0 0 rg BT 279.94 251.10 Td (which ) Tj ET Q q 0 0 0 rg BT 307.69 251.10 Td (are ) Tj ET Q q 0 0 0 rg BT 323.22 251.10 Td (managed ) Tj ET Q q 0 0 0 rg BT 362.63 251.10 Td (separately ) Tj ET Q q 0 0 0 rg BT 406.48 251.10 Td (from ) Tj ET Q q 0 0 0 rg BT 429.24 251.10 Td (the ) Tj ET Q q 0 0 0 rg BT 444.77 251.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 492.67 251.10 Td (investing ) Tj ET Q q 0 0 0 rg BT 532.65 251.10 Td (activities. ) Tj ET Q q 0 0 0 rg BT 573.84 251.10 Td (A) Tj ET Q q 0 0 0 rg BT 580.51 251.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.10 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 89.24 239.10 Td (of ) Tj ET Q q 0 0 0 rg BT 100.33 239.10 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 154.75 239.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 174.73 239.10 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 199.71 239.10 Td (to ) Tj ET Q q 0 0 0 rg BT 210.25 239.10 Td (net ) Tj ET Q q 0 0 0 rg BT 225.23 239.10 Td (income ) Tj ET Q q 0 0 0 rg BT 257.43 239.10 Td (for ) Tj ET Q q 0 0 0 rg BT 271.85 239.10 Td (Property ) Tj ET Q q 0 0 0 rg BT 309.05 239.10 Td (& ) Tj ET Q q 0 0 0 rg BT 319.59 239.10 Td (Casualty ) Tj ET Q q 0 0 0 rg BT 357.35 239.10 Td (Commercial ) Tj ET Q q 0 0 0 rg BT 409.54 239.10 Td (and ) Tj ET Q q 0 0 0 rg BT 426.75 239.10 Td (Consumer ) Tj ET Q q 0 0 0 rg BT 470.62 239.10 Td (Markets ) Tj ET Q q 0 0 0 rg BT 506.15 239.10 Td (is ) Tj ET Q q 0 0 0 rg BT 515.58 239.10 Td (set ) Tj ET Q q 0 0 0 rg BT 529.45 239.10 Td (forth ) Tj ET Q q 0 0 0 rg BT 551.65 239.10 Td (in ) Tj ET Q q 0 0 0 rg BT 562.19 239.10 Td (their ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 74.53 227.10 Td (discussions ) Tj ET Q q 0 0 0 rg BT 122.59 227.10 Td (herein.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 209.10 Td (W) Tj ET Q q 0 0 0 rg BT 39.28 209.10 Td (ritten ) Tj ET Q q 0 0 0 rg BT 63.44 209.10 Td (and ) Tj ET Q q 0 0 0 rg BT 80.94 209.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 111.21 209.10 Td (pr) Tj ET Q q 0 0 0 rg BT 119.73 209.10 Td (emiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.10 Td (W) Tj ET Q q 0 0 0 rg BT 40.54 191.10 Td (ritten ) Tj ET Q q 0 0 0 rg BT 64.10 191.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 102.66 191.10 Td (is ) Tj ET Q q 0 0 0 rg BT 111.79 191.10 Td (a ) Tj ET Q q 0 0 0 rg BT 118.69 191.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 156.14 191.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 202.47 191.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 239.91 191.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 275.68 191.10 Td (which ) Tj ET Q q 0 0 0 rg BT 302.58 191.10 Td (represents ) Tj ET Q q 0 0 0 rg BT 345.58 191.10 Td (the ) Tj ET Q q 0 0 0 rg BT 360.25 191.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 392.71 191.10 Td (of ) Tj ET Q q 0 0 0 rg BT 403.49 191.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 445.95 191.10 Td (char) Tj ET Q q 0 0 0 rg BT 462.97 191.10 Td (ged ) Tj ET Q q 0 0 0 rg BT 479.87 191.10 Td (for ) Tj ET Q q 0 0 0 rg BT 493.99 191.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 527.55 191.10 Td (issued, ) Tj ET Q q 0 0 0 rg BT 557.51 191.10 Td (net ) Tj ET Q q 0 0 0 rg BT 572.19 191.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.10 Td (reinsurance, ) Tj ET Q q 0 0 0 rg BT 83.53 179.10 Td (during ) Tj ET Q q 0 0 0 rg BT 113.08 179.10 Td (a ) Tj ET Q q 0 0 0 rg BT 120.96 179.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 146.05 179.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 177.54 179.10 Td (Earned ) Tj ET Q q 0 0 0 rg BT 209.30 179.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 248.84 179.10 Td (is ) Tj ET Q q 0 0 0 rg BT 258.95 179.10 Td (a ) Tj ET Q q 0 0 0 rg BT 266.83 179.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 288.06 179.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 314.91 179.10 Td ( ) Tj ET Q q 0 0 0 rg BT 318.35 179.10 Td (and ) Tj ET Q q 0 0 0 rg BT 336.23 179.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 374.67 179.10 Td (measure. ) Tj ET Q q 0 0 0 rg BT 413.93 179.10 Td (Premiums ) Tj ET Q q 0 0 0 rg BT 457.93 179.10 Td (are ) Tj ET Q q 0 0 0 rg BT 473.57 179.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 520.33 179.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 550.42 179.10 Td (and ) Tj ET Q q 0 0 0 rg BT 568.30 179.10 Td (are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.10 Td (included ) Tj ET Q q 0 0 0 rg BT 68.87 167.10 Td (in ) Tj ET Q q 0 0 0 rg BT 79.59 167.10 Td (the ) Tj ET Q q 0 0 0 rg BT 94.74 167.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 132.66 167.10 Td (results ) Tj ET Q q 0 0 0 rg BT 161.70 167.10 Td (on ) Tj ET Q q 0 0 0 rg BT 174.64 167.10 Td (a ) Tj ET Q q 0 0 0 rg BT 182.02 167.10 Td (pro ) Tj ET Q q 0 0 0 rg BT 198.28 167.10 Td (rata ) Tj ET Q q 0 0 0 rg BT 216.20 167.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 239.14 167.10 Td (over ) Tj ET Q q 0 0 0 rg BT 259.85 167.10 Td (the ) Tj ET Q q 0 0 0 rg BT 275.00 167.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 302.93 167.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 333.92 167.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 389.06 167.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 424.76 167.10 Td (that ) Tj ET Q q 0 0 0 rg BT 442.69 167.10 Td (written ) Tj ET Q q 0 0 0 rg BT 473.95 167.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 512.99 167.10 Td (is ) Tj ET Q q 0 0 0 rg BT 522.60 167.10 Td (a ) Tj ET Q q 0 0 0 rg BT 529.97 167.10 Td (performance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 67.38 155.10 Td (that ) Tj ET Q q 0 0 0 rg BT 84.95 155.10 Td (is ) Tj ET Q q 0 0 0 rg BT 94.18 155.10 Td (useful ) Tj ET Q q 0 0 0 rg BT 121.19 155.10 Td (to ) Tj ET Q q 0 0 0 rg BT 131.53 155.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 170.21 155.10 Td (as ) Tj ET Q q 0 0 0 rg BT 181.11 155.10 Td (it ) Tj ET Q q 0 0 0 rg BT 189.23 155.10 Td (reflects ) Tj ET Q q 0 0 0 rg BT 221.22 155.10 Td (current ) Tj ET Q q 0 0 0 rg BT 252.11 155.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 279.11 155.10 Td (in ) Tj ET Q q 0 0 0 rg BT 289.46 155.10 Td (the ) Tj ET Q q 0 0 0 rg BT 304.24 155.10 Td (Company) Tj ET Q q 0 0 0 rg BT 345.91 155.10 Td (s ) Tj ET Q q 0 0 0 rg BT 352.37 155.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 370.48 155.10 Td (of ) Tj ET Q q 0 0 0 rg BT 381.38 155.10 Td (property ) Tj ET Q q 0 0 0 rg BT 417.82 155.10 Td (and ) Tj ET Q q 0 0 0 rg BT 434.83 155.10 Td (casualty ) Tj ET Q q 0 0 0 rg BT 470.16 155.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 511.04 155.10 Td (products. ) Tj ET Q q 0 0 0 rg BT 550.36 155.10 Td (W) Tj ET Q q 0 0 0 rg BT 559.40 155.10 Td (ritten ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.10 Td (and ) Tj ET Q q 0 0 0 rg BT 48.44 143.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 77.58 143.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 116.19 143.10 Td (are ) Tj ET Q q 0 0 0 rg BT 130.89 143.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 168.37 143.10 Td (net ) Tj ET Q q 0 0 0 rg BT 183.09 143.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.92 143.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 219.73 143.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 268.32 143.10 Td (premium.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.10 Td (T) Tj ET Q q 0 0 0 rg BT 37.26 125.10 Td (raditional ) Tj ET Q q 0 0 0 rg BT 77.19 125.10 Td (life ) Tj ET Q q 0 0 0 rg BT 92.13 125.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 132.06 125.10 Td (type ) Tj ET Q q 0 0 0 rg BT 150.89 125.10 Td (products, ) Tj ET Q q 0 0 0 rg BT 189.44 125.10 Td (such ) Tj ET Q q 0 0 0 rg BT 209.38 125.10 Td (as ) Tj ET Q q 0 0 0 rg BT 219.32 125.10 Td (those ) Tj ET Q q 0 0 0 rg BT 242.04 125.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 260.33 125.10 Td (by ) Tj ET Q q 0 0 0 rg BT 271.94 125.10 Td (Group ) Tj ET Q q 0 0 0 rg BT 299.10 125.10 Td (Benefits, ) Tj ET Q q 0 0 0 rg BT 336.54 125.10 Td (collect ) Tj ET Q q 0 0 0 rg BT 364.81 125.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 406.41 125.10 Td (from ) Tj ET Q q 0 0 0 rg BT 427.46 125.10 Td (policyholders ) Tj ET Q q 0 0 0 rg BT 483.51 125.10 Td (in ) Tj ET Q q 0 0 0 rg BT 492.90 125.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 532.27 125.10 Td (for ) Tj ET Q q 0 0 0 rg BT 545.54 125.10 Td (financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.10 Td (protection ) Tj ET Q q 0 0 0 rg BT 74.85 113.10 Td (for ) Tj ET Q q 0 0 0 rg BT 89.32 113.10 Td (the ) Tj ET Q q 0 0 0 rg BT 104.34 113.10 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 157.69 113.10 Td (from ) Tj ET Q q 0 0 0 rg BT 179.93 113.10 Td (a ) Tj ET Q q 0 0 0 rg BT 187.18 113.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 226.08 113.10 Td (insurable ) Tj ET Q q 0 0 0 rg BT 265.54 113.10 Td (loss, ) Tj ET Q q 0 0 0 rg BT 286.41 113.10 Td (such ) Tj ET Q q 0 0 0 rg BT 307.54 113.10 Td (as ) Tj ET Q q 0 0 0 rg BT 318.68 113.10 Td (death ) Tj ET Q q 0 0 0 rg BT 343.14 113.10 Td (or ) Tj ET Q q 0 0 0 rg BT 354.28 113.10 Td (disability) Tj ET Q q 0 0 0 rg BT 390.85 113.10 Td (. ) Tj ET Q q 0 0 0 rg BT 395.96 113.10 Td (These ) Tj ET Q q 0 0 0 rg BT 422.64 113.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 465.44 113.10 Td (together ) Tj ET Q q 0 0 0 rg BT 501.01 113.10 Td (with ) Tj ET Q q 0 0 0 rg BT 521.60 113.10 Td (net ) Tj ET Q q 0 0 0 rg BT 536.62 113.10 Td (investment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.10 Td (income ) Tj ET Q q 0 0 0 rg BT 63.20 101.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 92.12 101.10 Td (from ) Tj ET Q q 0 0 0 rg BT 113.83 101.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.31 101.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 158.35 101.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 204.50 101.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 238.42 101.10 Td (are ) Tj ET Q q 0 0 0 rg BT 252.90 101.10 Td (used ) Tj ET Q q 0 0 0 rg BT 273.50 101.10 Td (to ) Tj ET Q q 0 0 0 rg BT 283.55 101.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 300.25 101.10 Td (the ) Tj ET Q q 0 0 0 rg BT 314.74 101.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 361.43 101.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 408.14 101.10 Td (under ) Tj ET Q q 0 0 0 rg BT 433.18 101.10 Td (these ) Tj ET Q q 0 0 0 rg BT 456.00 101.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 496.58 101.10 Td (contracts. ) Tj ET Q q 0 0 0 rg BT 537.28 101.10 Td (T) Tj ET Q q 0 0 0 rg BT 542.69 101.10 Td (wo ) Tj ET Q q 0 0 0 rg BT 557.18 101.10 Td (major ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 63.93 89.10 Td (new ) Tj ET Q q 0 0 0 rg BT 83.31 89.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 105.47 89.10 Td (and ) Tj ET Q q 0 0 0 rg BT 122.63 89.10 Td (persistency) Tj ET Q q 0 0 0 rg BT 166.96 89.10 Td (, ) Tj ET Q q 0 0 0 rg BT 172.19 89.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 202.12 89.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 240.94 89.10 Td (growth. ) Tj ET Q q 0 0 0 rg BT 274.50 89.10 Td (Sales ) Tj ET Q q 0 0 0 rg BT 298.32 89.10 Td (can ) Tj ET Q q 0 0 0 rg BT 314.92 89.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 350.40 89.10 Td (or ) Tj ET Q q 0 0 0 rg BT 361.45 89.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 398.58 89.10 Td (in ) Tj ET Q q 0 0 0 rg BT 409.08 89.10 Td (a ) Tj ET Q q 0 0 0 rg BT 416.24 89.10 Td (given ) Tj ET Q q 0 0 0 rg BT 441.18 89.10 Td (year ) Tj ET Q q 0 0 0 rg BT 461.11 89.10 Td (based ) Tj ET Q q 0 0 0 rg BT 486.60 89.10 Td (on ) Tj ET Q q 0 0 0 rg BT 499.32 89.10 Td (a ) Tj ET Q q 0 0 0 rg BT 506.48 89.10 Td (number ) Tj ET Q q 0 0 0 rg BT 539.75 89.10 Td (of ) Tj ET Q q 0 0 0 rg BT 550.80 89.10 Td (factors, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 77.10 Td (including ) Tj ET Q q 0 0 0 rg BT 72.45 77.10 Td (but ) Tj ET Q q 0 0 0 rg BT 88.41 77.10 Td (not ) Tj ET Q q 0 0 0 rg BT 104.36 77.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 135.87 77.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 149.33 77.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 189.16 77.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 223.99 77.10 Td (for ) Tj ET Q q 0 0 0 rg BT 238.83 77.10 Td (the ) Tj ET Q q 0 0 0 rg BT 254.23 77.10 Td (Company) Tj ET Q q 0 0 0 rg BT 295.89 77.10 Td (s ) Tj ET Q q 0 0 0 rg BT 302.96 77.10 Td (product ) Tj ET Q q 0 0 0 rg BT 336.68 77.10 Td (of) Tj ET Q q 0 0 0 rg BT 344.83 77.10 Td (ferings, ) Tj ET Q q 0 0 0 rg BT 378.28 77.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 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Tf ET q 0 0 0 rg BT 472.80 373.22 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.15 373.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 373.17 Td (150) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 359.33 Td (Net income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 357.50 359.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 401.15 359.33 Td (870) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.50 359.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 466.15 359.33 Td (547) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.50 359.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 531.15 359.33 Td (526) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 340.30 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 340.30 Td (Repr) Tj ET Q q 0 0 0 rg BT 66.66 340.30 Td (esents the income fr) Tj ET Q q 0 0 0 rg BT 138.06 340.30 Td (om operations and sale of Specialty Risk Services \(SRS\). For additional information, see Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 489.02 340.30 Td (20) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 498.02 340.30 Td ( of Notes to ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 329.50 Td (Consolidated Financial Statements.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 317.50 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 317.50 Td (Includes servicing r) Tj ET Q q 0 0 0 rg BT 120.65 317.50 Td (evenues of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 160.63 317.50 Td ($1) Tj ET Q q 0 0 0 rg BT 168.96 317.50 Td (12) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 177.96 317.50 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 182.46 317.50 Td ($102) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 200.46 317.50 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 220.71 317.50 Td ($97) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 234.21 317.50 Td ( for the years ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 307.94 317.50 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 378.67 317.50 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 383.17 317.50 Td (December31, 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 453.90 317.50 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 474.15 317.50 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 539.71 317.50 Td (1) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 544.21 317.50 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 305.50 Td (r) Tj ET Q q 0 0 0 rg BT 53.02 305.50 Td (espectively) Tj ET Q q 0 0 0 rg BT 96.33 305.50 Td (. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 281.00 323.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 281.00 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 281.00 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 281.00 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 255.00 323.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 255.00 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 255.00 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 255.00 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 229.00 323.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 229.00 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 229.00 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 229.00 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 281 m 355 281 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 355 281 m 420 281 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420 281 m 485 281 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 281 m 550 281 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 216 m 355 216 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 216 m 420 216 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 216 m 485 216 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 216 m 550 216 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 285.45 Td (Premium Measures [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 378.00 285.45 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.00 285.45 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.20 285.45 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 271.57 Td (New business premium) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.50 271.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.65 271.57 Td (1,035) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.50 271.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.15 271.57 Td (968) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 271.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.65 271.57 Td (1,097) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 258.57 Td (Standard commercial lines policy count retention) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.15 258.57 Td (81) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.15 258.57 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 258.57 Td (83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 258.57 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 258.57 Td (82) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.15 258.57 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 245.57 Td (Standard commercial lines renewal written pricing increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.15 245.57 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.15 245.57 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 245.57 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 245.57 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.15 245.57 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.15 245.57 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 232.57 Td (Standard commercial lines renewal earned pricing increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.15 232.57 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.15 232.57 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 232.57 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 232.57 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.15 232.57 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.15 232.57 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 219.57 Td (Standard commercial lines policies in-force as of end of period \(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.65 219.57 Td (1,250) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.65 219.57 Td (1,263) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.65 219.57 Td (1,254) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 200.70 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 200.70 Td (Standar) Tj ET Q q 0 0 0 rg BT 77.67 200.70 Td (d commer) Tj ET Q q 0 0 0 rg BT 113.08 200.70 Td (cial lines r) Tj ET Q q 0 0 0 rg BT 151.24 200.70 Td (epr) Tj ET Q q 0 0 0 rg BT 162.90 200.70 Td (esents the Company) Tj ET Q q 0 0 0 rg BT 236.72 200.70 Td (s small commer) Tj ET Q q 0 0 0 rg BT 292.89 200.70 Td (cial and middle market pr) Tj ET Q q 0 0 0 rg BT 386.04 200.70 Td (operty and casualty lines.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 177.20 323.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 177.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 177.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 177.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 151.20 323.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 151.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 151.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 151.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 125.20 323.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 125.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 125.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 125.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 99.20 323.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 99.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 99.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 99.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 73.20 323.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 73.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 420.00 73.20 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 73.20 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 177.20000000000005 m 355 177.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 355 177.20000000000005 m 420 177.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420 177.20000000000005 m 485 177.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 177.20000000000005 m 550 177.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 125.20000000000005 m 355 125.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 355 125.20000000000005 m 420 125.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420 125.20000000000005 m 485 125.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 125.20000000000005 m 550 125.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 86.20000000000005 m 355 86.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 355 86.20000000000005 m 420 86.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420 86.20000000000005 m 485 86.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 86.20000000000005 m 550 86.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 73.20000000000005 m 355 73.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 355 73.20000000000005 m 420 73.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420 73.20000000000005 m 485 73.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 73.20000000000005 m 550 73.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420 73.20000000000005 m 485 73.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 73.20000000000005 m 550 73.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 60.200000000000045 m 355 60.200000000000045 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 47.200000000000045 m 355 47.200000000000045 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 355 60.200000000000045 m 420 60.200000000000045 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 355 47.200000000000045 m 420 47.200000000000045 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420 60.200000000000045 m 485 60.200000000000045 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 420 47.200000000000045 m 485 47.200000000000045 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 60.200000000000045 m 550 60.200000000000045 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 47.200000000000045 m 550 47.200000000000045 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 181.60 Td (Ratios) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 378.00 181.60 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.00 181.60 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.20 181.60 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 167.77 Td (Loss and loss adjustment expense ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.50 167.77 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.50 167.77 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 167.77 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 154.77 Td (Current accident year before catastrophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.65 154.77 Td (62.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.65 154.77 Td (66.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.65 154.77 Td (67.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 141.77 Td (Current accident year catastrophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.65 141.77 Td (1.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 141.77 Td (5.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.65 141.77 Td (5.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 128.77 Td (Prior year development) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.65 128.77 Td (1.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 128.77 Td (1.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.65 128.77 Td (2.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 115.77 Td (Total loss and loss adjustment expense ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.65 115.77 Td (65.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.65 115.77 Td (73.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.65 115.77 Td (74.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 102.77 Td (Expense ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.65 102.77 Td (30.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.65 102.77 Td (29.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.65 102.77 Td (29.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 89.77 Td (Policyholder dividend ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.65 89.77 Td (0.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.65 89.77 Td (0.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.65 89.77 Td (0.3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 76.93 Td (Combined ratio) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.65 76.93 Td (96.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.65 76.93 Td (102.9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.65 76.93 Td (104.6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 63.93 Td (Current accident year catastrophes and prior year development) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.00 63.77 Td (3.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.00 63.77 Td (6.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.00 63.77 Td (7.2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 50.93 Td (Combined ratio before catastrophes and prior year development) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.65 50.93 Td (93.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.65 50.93 Td (96.6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 528.65 50.93 Td (97.3) Tj ET Q BT /F2 10.00 Tf ET endstream endobj 147 0 obj <> endobj 148 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (73) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 54.00 713.25 Td (Outlook ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The Company expects market conditions to continue to improve slowly driving a modest increase in exposures, while pricing, which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (should remain favorable in the near) Tj ET Q q 0 0 0 rg BT 173.19 683.25 Td (-term, is anticipated to moderate due to increased competition. ) Tj ET Q q 0 0 0 rg BT 425.05 683.25 Td (As such, the Company expects low ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (single-digit written premiums growth in 2014, as compared to 2013, driven by small commercial and middle market where the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (continues to develop comprehensive product solutions, deeper relationships with distribution partners, dif) Tj ET Q q 0 0 0 rg BT 453.73 659.25 Td (ferentiating customer ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (experiences and ease of doing business processes and technologies. In specialty lines, the Company expects written premiums to decline ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (as the Company continues to streamline its programs business and adjusts the mix within professional liability) Tj ET Q q 0 0 0 rg BT 472.18 635.25 Td (. ) Tj ET Q q 0 0 0 rg BT 477.00 635.25 Td (The Company expects ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (the combined ratio before catastrophes and prior accident year development will be between approximately 90.0 and 92.0 for 2014, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 83.70 611.25 Td (93.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 101.20 611.25 Td ( in 2013, due to continued mar) Tj ET Q q 0 0 0 rg BT 223.50 611.25 Td (gin expansion across all lines of business as expected earned pricing increases outpace ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (loss costs.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 587.25 Td (ear ) Tj ET Q q 0 0 0 rg BT 52.33 587.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 587.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.41 587.25 Td (2013) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 587.25 Td ( ) Tj ET Q q 0 0 0 rg BT 160.91 587.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.96 587.25 Td (to ) Tj ET Q q 0 0 0 rg BT 214.24 587.25 Td (the ) Tj ET Q q 0 0 0 rg BT 229.52 587.25 Td (year ) Tj ET Q q 0 0 0 rg BT 249.79 587.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 587.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.87 587.25 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.87 587.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 570.25 Td (Net income, as compared to the prior year period, increased in 2013 primarily due to improvements in underwriting results, driven by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 558.25 Td (lower current accident year losses before catastrophes and lower current accident year catastrophe losses. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 536.25 Td (Earned premiums decreased in 2013, reflecting the impact of lower written premiums primarily in specialty lines and to a lesser extent in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 524.25 Td (middle market, partially of) Tj ET Q q 0 0 0 rg BT 138.51 524.25 Td (fset by written premium growth in small commercial. ) Tj ET Q q 0 0 0 rg BT 354.66 524.25 Td (W) Tj ET Q q 0 0 0 rg BT 363.70 524.25 Td (ritten premium increases in small commercial, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 512.25 Td (primarily in workers) Tj ET Q q 0 0 0 rg BT 116.29 512.25 Td ( compensation business, were driven by favorable audit premium as well as favorable renewal premium due to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 500.25 Td (higher earned pricing, partially of) Tj ET Q q 0 0 0 rg BT 165.99 500.25 Td (fset by lower policy count retention. ) Tj ET Q q 0 0 0 rg BT 313.27 500.25 Td (W) Tj ET Q q 0 0 0 rg BT 322.31 500.25 Td (ritten premium decreases in middle market were driven ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 488.25 Td (primarily by lower renewal premium in workers' compensation business partially of) Tj ET Q q 0 0 0 rg BT 366.92 488.25 Td (fset by new business premium growth in property) Tj ET Q q 0 0 0 rg BT 564.85 488.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 476.25 Td (general liability and auto and favorable overall inforce policy retention. ) Tj ET Q q 0 0 0 rg BT 319.82 476.25 Td (W) Tj ET Q q 0 0 0 rg BT 328.85 476.25 Td (ritten premium decreases in specialty lines were primarily the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 464.25 Td (result of underwriting actions to reposition business and exit unprofitable programs partially of) Tj ET Q q 0 0 0 rg BT 411.24 464.25 Td (fset by new business growth in national ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 452.25 Td (accounts. ) Tj ET Q q 0 0 0 rg BT 71.30 452.25 Td (The Company ceased writing all transportation programs ef) Tj ET Q q 0 0 0 rg BT 309.66 452.25 Td (fective January 1, 2014.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 430.25 Td (Losses and loss adjustment expenses reflect favorable current accident year losses before catastrophes in all three businesses and a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 418.25 Td (significant decline in current accident year catastrophes partially of) Tj ET Q q 0 0 0 rg BT 300.09 418.25 Td (fset by unfavorable prior accident years development. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 396.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 396.25 Td (Favorable current accident year losses and loss adjustment expenses before catastrophes were primarily driven by lower loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 384.25 Td (and loss adjustment expenses in workers) Tj ET Q q 0 0 0 rg BT 232.56 384.25 Td ( compensation due to favorable severity and frequency) Tj ET Q q 0 0 0 rg BT 450.99 384.25 Td (. ) Tj ET Q q 0 0 0 rg BT 455.81 384.25 Td (The current accident year loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 372.25 Td (and loss adjustment expense ratio before catastrophes decreased accordingly by 4.0 points to 62.8 in 2013 from 66.8 in 2012.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 348.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 348.25 Td (Current accident year catastrophe losses of $105, before tax, in 2013, compared to $325, before tax, in 2012. Losses in 2013 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 336.25 Td (were primarily due to multiple thunderstorm, hail, and tornado events across various U.S. geographic regions. Losses in 2012 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 324.25 Td (were primarily driven by $207 related to Storm Sandy and multiple thunderstorm, hail, and tornado events across various U.S. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 312.25 Td (geographic regions. For additional information, see MD&A) Tj ET Q q 0 0 0 rg BT 308.29 312.25 Td ( - Critical ) Tj ET Q q 0 0 0 rg BT 348.55 312.25 Td (Accounting Estimates, Property and Casualty Insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 300.25 Td (Product Reserves, Net of Reinsurance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 276.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 276.25 Td (Prior accident years reserve strengthening of $83, before tax, in 2013, compared to $72, before tax, in 2012. Development in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 264.25 Td (2013 was primarily due to strengthening related to commercial auto liability and the closing of the New ) Tj ET Q q 0 0 0 rg BT 484.52 264.25 Td (Y) Tj ET Q q 0 0 0 rg BT 490.74 264.25 Td (ork Section 25A) Tj ET Q q 0 0 0 rg BT 555.73 264.25 Td ( Fund ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 252.25 Td (for Reopened Cases partially of) Tj ET Q q 0 0 0 rg BT 193.95 252.25 Td (fset by a release of general liability reserves. Development in 2012 was primarily due to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 240.25 Td (strengthening related to commercial auto liability claims, professional liability directors and of) Tj ET Q q 0 0 0 rg BT 446.10 240.25 Td (ficers claims and workers ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 228.25 Td (compensation partially of) Tj ET Q q 0 0 0 rg BT 169.51 228.25 Td (fset by a release of general liability and catastrophe reserves. For additional information, see MD&A) Tj ET Q q 0 0 0 rg BT 574.66 228.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 216.25 Td (Critical ) Tj ET Q q 0 0 0 rg BT 99.44 216.25 Td (Accounting Estimates, Reserve Roll-forwards and Development.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 192.25 Td (The combined ratio, before catastrophes and prior year development, improved 3.6 points to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.05 192.25 Td (93.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.55 192.25 Td ( in 2013 from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.77 192.25 Td (96.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.27 192.25 Td ( in 2012. ) Tj ET Q q 0 0 0 rg BT 532.87 192.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 180.25 Td (decrease primarily reflects a favorable decrease in the current accident year before catastrophes ratio. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 156.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 57.13 156.25 Td (fective tax rate, in both periods, dif) Tj ET Q q 0 0 0 rg BT 197.46 156.25 Td (fers from the U.S. Federal statutory rate primarily due to permanent dif) Tj ET Q q 0 0 0 rg BT 481.92 156.25 Td (ferences related to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 144.25 Td (investments in tax exempt securities. For further discussion of income taxes, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.25 144.25 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.25 144.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.58 144.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 427.89 144.25 Td (T) Tj ET Q q 0 0 0 rg BT 433.30 144.25 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.07 144.25 Td ( of Notes to Consolidated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 132.25 Td (Financial Statements.) Tj ET Q endstream endobj 149 0 obj <> endobj 150 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (74) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 713.25 Td (ear ) Tj ET Q q 0 0 0 rg BT 52.33 713.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 713.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.41 713.25 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 160.91 713.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.96 713.25 Td (to ) Tj ET Q q 0 0 0 rg BT 214.24 713.25 Td (the ) Tj ET Q q 0 0 0 rg BT 229.52 713.25 Td (year ) Tj ET Q q 0 0 0 rg BT 249.79 713.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 713.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.87 713.25 Td (201) Tj ET Q q 0 0 0 rg BT 350.32 713.25 Td (1) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.32 713.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 696.25 Td (Net income, as compared to the prior year period, increased in 2012 primarily due to improvements in underwriting results, driven by an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 684.25 Td (increase in earned premiums and lower unfavorable prior year development, and improvements in net realized capital gains \(losses\), ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 672.25 Td (mainly on derivatives. ) Tj ET Q q 0 0 0 rg BT 122.96 672.25 Td (This was of) Tj ET Q q 0 0 0 rg BT 169.44 672.25 Td (fset by the gain on sale of SRS which occurred in 201) Tj ET Q q 0 0 0 rg BT 384.31 672.25 Td (1. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 650.25 Td (Earned premiums increased in 2012 primarily due to improvements in workers) Tj ET Q q 0 0 0 rg BT 349.56 650.25 Td ( compensation, driven by renewal earned pricing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 638.25 Td (increases, strong policy count retention and an increase in policies-in-force. ) Tj ET Q q 0 0 0 rg BT 336.21 638.25 Td (The earned pricing changes were primarily a reflection of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 626.25 Td (written pricing changes over the last year) Tj ET Q q 0 0 0 rg BT 195.88 626.25 Td (. Renewal written pricing increased across all standard commercial lines driven by improving ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 614.25 Td (market conditions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 592.25 Td (Losses and loss adjustment expenses reflect less unfavorable prior accident years development partially of) Tj ET Q q 0 0 0 rg BT 456.46 592.25 Td (fset by unfavorable current ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 580.25 Td (accident year losses before catastrophes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 558.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 558.25 Td (Current accident year catastrophe losses of $325, before tax, in 2012, compared to $320, before tax, in 201) Tj ET Q q 0 0 0 rg BT 494.21 558.25 Td (1. Losses in 2012 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 546.25 Td (were primarily driven by $207 related to Storm Sandy and multiple thunderstorm, hail, and tornado events across various U.S. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 534.25 Td (geographic regions. Losses in 201) Tj ET Q q 0 0 0 rg BT 205.99 534.25 Td (1 were primarily driven by $60 related to Hurricane Irene and multiple tornado, winter storm, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 522.25 Td (and thunderstorm events across various U.S. geographic regions. For additional information, see MD&A) Tj ET Q q 0 0 0 rg BT 488.81 522.25 Td ( - Critical ) Tj ET Q q 0 0 0 rg BT 529.08 522.25 Td (Accounting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 510.25 Td (Estimates, Property and Casualty Insurance Product Reserves, Net of Reinsurance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 488.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 488.25 Td (Prior accident years reserve strengthening of $72, before tax, in 2012, compared to $125, before tax, in 201) Tj ET Q q 0 0 0 rg BT 496.44 488.25 Td (1. ) Tj ET Q q 0 0 0 rg BT 508.75 488.25 Td (The decline in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 476.25 Td (unfavorable prior year development was primarily due to lower strengthening on workers' compensation reserves. For ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 464.25 Td (additional information, see MD&A) Tj ET Q q 0 0 0 rg BT 208.03 464.25 Td ( - Critical ) Tj ET Q q 0 0 0 rg BT 248.30 464.25 Td (Accounting Estimates, Reserve Roll-forwards and Development.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 442.25 Td (The combined ratio, before catastrophes and prior year development, improved 0.7 points to 96.6 in 2012 from 97.3 in 201) Tj ET Q q 0 0 0 rg BT 522.68 442.25 Td (1. ) Tj ET Q q 0 0 0 rg BT 532.50 442.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 430.25 Td (improvement in the ratio primarily reflects lower non-catastrophe property losses. In addition, workers' compensation frequency ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 418.25 Td (improved in 2012, while severity moderated and earned pricing increased.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 396.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 57.13 396.25 Td (fective tax rate, in both periods, dif) Tj ET Q q 0 0 0 rg BT 197.46 396.25 Td (fers from the U.S. Federal statutory rate primarily due to permanent dif) Tj ET Q q 0 0 0 rg BT 481.92 396.25 Td (ferences related to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 384.25 Td (investments in tax exempt securities. In addition, due to the availability of additional tax planning strategies, the Company released the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 372.25 Td (valuation allowance associated with investment realized capital losses in 201) Tj ET Q q 0 0 0 rg BT 339.09 372.25 Td (1. For further discussion of income taxes, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.37 372.25 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.37 372.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 360.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 63.80 360.25 Td (T) Tj ET Q q 0 0 0 rg BT 69.21 360.25 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.98 360.25 Td ( of Notes to Consolidated Financial Statements.) 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rg /GS0 gs 468.00 638.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 610.75 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 610.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 610.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 610.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 582.75 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 582.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 582.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 582.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 554.75 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 554.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 554.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 554.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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444.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 444.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 444.75 65.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 666.75 m 338 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 666.75 m 403 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 666.75 m 468 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 666.75 m 533 666.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 638.75 m 338 638.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 638.75 m 403 638.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 638.75 m 468 638.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 638.75 m 533 638.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 568.75 m 338 568.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 568.75 m 403 568.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 568.75 m 468 568.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 568.75 m 533 568.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 526.75 m 338 526.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 526.75 m 403 526.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 526.75 m 468 526.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 526.75 m 533 526.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 457.75 m 338 457.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 457.75 m 403 457.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 457.75 m 468 457.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 457.75 m 533 457.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 444.75 m 338 444.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 444.75 m 403 444.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 444.75 m 468 444.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 444.75 m 533 444.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 430.75 m 338 430.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 430.75 m 403 430.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 430.75 m 468 430.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 430.75 m 533 430.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 417.75 m 338 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 417.75 m 403 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 417.75 m 468 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 417.75 m 533 417.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 671.20 Td (Operating Summary) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 361.00 671.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.00 671.20 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.20 671.20 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 657.32 Td (Written premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 657.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.65 657.32 Td (3,719) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 657.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 657.32 Td (3,630) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 657.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 657.32 Td (3,675) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 643.32 Td (Change in unearned premium reserve) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 643.32 Td (59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.80 643.37 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.15 643.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.80 643.37 Td (\(72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 643.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 629.32 Td (Earned premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.65 629.32 Td (3,660) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 629.32 Td (3,636) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 629.32 Td (3,747) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 615.32 Td (Losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 601.32 Td (Current accident year before catastrophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.65 601.32 Td (2,412) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 601.32 Td (2,390) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 601.32 Td (2,536) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 587.32 Td (Current accident year catastrophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 587.32 Td (207) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.15 587.32 Td (381) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 587.32 Td (425) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 573.32 Td (Prior accident years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.80 573.37 Td (\(39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 573.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.80 573.37 Td (\(141) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.15 573.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.80 573.37 Td (\(75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 573.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 559.32 Td (Total losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.65 559.32 Td (2,580) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 559.32 Td (2,630) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 559.32 Td (2,886) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 545.32 Td (Amortization of deferred policy acquisition costs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 545.32 Td (332) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.15 545.32 Td (332) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 545.32 Td (337) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 531.32 Td (Underwriting expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 531.32 Td (571) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.15 531.32 Td (581) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 531.32 Td (572) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 517.48 Td (Underwriting gain \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.15 517.48 Td (177) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.15 517.48 Td (93) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 515.80 517.53 Td (\(48) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 529.15 517.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 504.32 Td (Net servicing income [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 504.32 Td (34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 504.32 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 504.32 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 490.32 Td (Net investment income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 490.32 Td (145) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.15 490.32 Td (159) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 490.32 Td (187) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 476.32 Td (Net realized capital gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 476.32 Td (34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 476.32 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.80 476.37 Td (\(11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 476.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 462.32 Td (Other expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.80 462.37 Td (\(61) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 462.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.80 462.37 Td (\(56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.15 462.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.80 462.37 Td (\(162) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 462.32 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 448.48 Td (Income \(loss\) before income taxes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.15 448.48 Td (329) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 449.15 448.48 Td (231) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 515.80 448.53 Td (\(15) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 529.15 448.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 435.32 Td (Income tax expense \(benefit\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 435.32 Td (100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 435.32 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.80 435.37 Td (\(22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 435.32 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 421.48 Td (Net income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.50 421.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.15 421.48 Td (229) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.50 421.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 449.15 421.48 Td (166) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.50 421.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.15 421.48 Td (7) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 406.25 Td ([1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 47.50 406.25 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 406.25 Td (Includes servicing r) Tj ET Q q 0 0 0 rg BT 125.15 406.25 Td (evenues of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 165.13 406.25 Td ($163) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 183.13 406.25 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 187.63 406.25 Td ($155) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 205.63 406.25 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 223.63 406.25 Td ($156) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 241.63 406.25 Td ( for years ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 302.12 406.25 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 372.85 406.25 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 377.35 406.25 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 395.35 406.25 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 413.35 406.25 Td (201) Tj ET Q q 0 0 0 rg BT 426.18 406.25 Td (1) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 430.68 406.25 Td ( r) Tj ET Q q 0 0 0 rg BT 436.70 406.25 Td (espectively) Tj ET Q q 0 0 0 rg BT 480.00 406.25 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 482.50 406.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 375.75 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 375.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 375.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 375.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 347.75 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 347.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 347.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 347.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 320.75 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 320.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 320.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 320.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 292.75 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 292.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 292.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 292.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 264.75 306.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 264.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 264.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 264.75 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 375.75 m 338 375.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 375.75 m 403 375.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 375.75 m 468 375.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 375.75 m 533 375.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 333.75 m 338 333.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 333.75 m 403 333.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 333.75 m 468 333.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 333.75 m 533 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 320.75 m 338 320.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 320.75 m 403 320.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 320.75 m 468 320.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 320.75 m 533 320.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 264.75 m 338 264.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 264.75 m 403 264.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 264.75 m 468 264.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 264.75 m 533 264.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 251.75 m 338 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 251.75 m 403 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 251.75 m 468 251.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 251.75 m 533 251.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 380.20 Td (Written Premiums) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 361.00 380.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.00 380.20 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.20 380.20 Td (2011) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 34.50 366.31 Td (Product Line) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 366.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 366.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 366.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 352.32 Td (Automobile) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 352.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.65 352.32 Td (2,562) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 352.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 352.32 Td (2,514) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 352.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 352.32 Td (2,562) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 338.32 Td (Homeowners) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.65 338.32 Td (1,157) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 338.32 Td (1,116) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 338.32 Td (1,113) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 324.48 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.50 324.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 376.65 324.48 Td (3,719) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.50 324.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.65 324.48 Td (3,630) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.50 324.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.65 324.48 Td (3,675) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 311.43 Td (Earned Premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 311.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 311.32 Td () Tj ET Q BT /F2 10.00 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ET q 0 0 0 rg BT 524.65 433.17 Td (11.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 418.17 Td (Prior year development) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.30 418.22 Td (\(1.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.15 418.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.30 418.22 Td (\(3.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 418.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.30 418.22 Td (\(2.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.15 418.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 403.17 Td (Total loss and loss adjustment expense ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.65 403.17 Td (70.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.65 403.17 Td (72.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.65 403.17 Td (77.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 388.17 Td (Expense ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.65 388.17 Td (24.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.65 388.17 Td (25.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.65 388.17 Td (24.3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 373.18 Td ( Combined ratio) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 394.65 373.18 Td (95.2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.65 373.18 Td (97.4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.65 373.18 Td (101.3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 358.18 Td (Current accident year catastrophes and prior year development) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.00 358.17 Td (4.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.00 358.17 Td (6.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.00 358.17 Td (9.3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 343.18 Td (Combined ratio before catastrophes and prior year development) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 394.65 343.18 Td (90.6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.65 343.18 Td (90.8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.65 343.18 Td (91.9) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 316.50 320.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 316.50 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 316.50 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 316.50 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 316.5 m 352 316.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 316.5 m 416 316.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 316.5 m 481 316.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481 316.5 m 546 316.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 286.5 m 352 286.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 286.5 m 416 286.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 286.5 m 481 286.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481 286.5 m 546 286.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 319.90 Td (Product Combined Ratios) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 374.50 319.90 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.00 319.90 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.20 319.90 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 306.17 Td (Automobile) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.65 306.17 Td (97.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.65 306.17 Td (97.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.65 306.17 Td (95.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 291.17 Td (Homeowners) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.65 291.17 Td (89.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.65 291.17 Td (97.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.65 291.17 Td (115.8) Tj ET Q BT /F2 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 269.00 Td (2014 ) Tj ET Q q 0 0 0 rg BT 54.00 269.00 Td (Outlook) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.00 Td (The Company expects low single-digit written premiums growth driven by business sold through independent agents to ) Tj ET Q q 0 0 0 rg BT 511.98 251.00 Td (AARP) Tj ET Q q 0 0 0 rg BT 538.29 251.00 Td ( members ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.00 Td (and by ) Tj ET Q q 0 0 0 rg BT 60.39 239.00 Td (AARP) Tj ET Q q 0 0 0 rg BT 86.69 239.00 Td ( Direct. ) Tj ET Q q 0 0 0 rg BT 121.50 239.00 Td (The Company expects the combined ratio before catastrophes and prior accident year development will be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.00 Td (between approximately 87.0 and 90.0 for 2014 compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.38 227.00 Td (90.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.88 227.00 Td ( in 2013. For auto, the current accident year loss and loss adjustment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.00 Td (expense ratio before catastrophes is expected to improve slightly for 2014, driven by earned pricing increases and lower claim frequency ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.00 Td (partially of) Tj ET Q q 0 0 0 rg BT 75.47 203.00 Td (fset by higher average claim severity) Tj ET Q q 0 0 0 rg BT 222.26 203.00 Td (. For homeowners, the current accident year loss and loss adjustment expense ratio ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.00 Td (before catastrophes is expected to decline in 2014, driven by earned pricing increases in excess of increases in non-catastrophe loss cost ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.00 Td (trends.) Tj ET Q endstream endobj 155 0 obj <> endobj 156 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (77) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 713.25 Td (ear ) Tj ET Q q 0 0 0 rg BT 52.33 713.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 713.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.41 713.25 Td (2013) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 160.91 713.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.96 713.25 Td (to ) Tj ET Q q 0 0 0 rg BT 214.24 713.25 Td (the ) Tj ET Q q 0 0 0 rg BT 229.52 713.25 Td (year ) Tj ET Q q 0 0 0 rg BT 249.79 713.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 713.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.87 713.25 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.87 713.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 696.25 Td (Net income, as compared to the prior year period, increased in 2013 primarily due to improvements in underwriting results, driven by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 684.25 Td (lower current year catastrophes partially of) Tj ET Q q 0 0 0 rg BT 203.18 684.25 Td (fset by lower favorable prior year development. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 667.25 Td (Earned premiums increased in 2013, reflecting new business written premium growth in auto and home, primarily from the ) Tj ET Q q 0 0 0 rg BT 526.93 667.25 Td (AARP) Tj ET Q q 0 0 0 rg BT 553.23 667.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 655.25 Td (Direct and ) Tj ET Q q 0 0 0 rg BT 75.37 655.25 Td (AARP) Tj ET Q q 0 0 0 rg BT 101.68 655.25 Td ( through agents distribution channels and improved policy count retention in auto and home due to initiatives ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 643.25 Td (implemented over the last two years.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 626.25 Td (Losses and loss adjustment expenses reflect a decline in current accident year catastrophes partially of) Tj ET Q q 0 0 0 rg BT 440.05 626.25 Td (fset by lower favorable prior ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 614.25 Td (accident years development. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 597.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 597.25 Td (Current accident year losses and loss adjustment expenses before catastrophes increased in 2013 compared to 2012 in line with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 585.25 Td (the growth in earned premium and as reflected by the current accident year loss and loss adjustment expense ratio before ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 573.25 Td (catastrophes of 65.9 in 2013 as compared with 65.7 in 2012.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 556.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 556.25 Td (Current accident year catastrophe losses of $207, before tax, in 2013 compared to $381, before tax in 2012. Losses in 2013 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 544.25 Td (were primarily due to multiple thunderstorm, hail and tornado events across various U.S. geographic regions. Losses in 2012 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 532.25 Td (were primarily driven by losses from Storm Sandy of $143 along with other thunderstorm and hail events across various U.S. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 520.25 Td (geographic regions. For additional information, see MD&A) Tj ET Q q 0 0 0 rg BT 308.29 520.25 Td ( - Critical ) Tj ET Q q 0 0 0 rg BT 348.55 520.25 Td (Accounting Estimates, Property and Casualty Insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 508.25 Td (Product Reserves, Net of Reinsurance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 491.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 491.25 Td (Prior accident years reserve releases of $39, before tax, in 2013 compared to $141, before tax, in 2012. Reserve releases in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 479.25 Td (2013 were primarily related to Storm Sandy) Tj ET Q q 0 0 0 rg BT 242.92 479.25 Td (. Reserve releases in 2012 were due to favorable emer) Tj ET Q q 0 0 0 rg BT 461.25 479.25 Td (gence of losses in auto ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 467.25 Td (liability) Tj ET Q q 0 0 0 rg BT 97.96 467.25 Td (, homeowners and catastrophes. For additional information, see MD&A) Tj ET Q q 0 0 0 rg BT 387.34 467.25 Td ( - Critical ) Tj ET Q q 0 0 0 rg BT 427.61 467.25 Td (Accounting Estimates, Property and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 455.25 Td (Casualty Insurance Product Reserves, Net of Reinsurance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 438.25 Td (The combined ratio, before current accident year catastrophes and prior year development, improved slightly to 90.6 in 2013 from 90.8 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 426.25 Td (in 2012. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 409.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 57.13 409.25 Td (fective tax rates in 2013 and 2012 dif) Tj ET Q q 0 0 0 rg BT 206.08 409.25 Td (fer from the U.S. Federal statutory rate of 35% primarily due to permanent dif) Tj ET Q q 0 0 0 rg BT 518.30 409.25 Td (ferences ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 397.25 Td (related to investments in tax exempt securities. For further discussion of income taxes, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.23 397.25 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.23 397.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.56 397.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 467.87 397.25 Td (T) Tj ET Q q 0 0 0 rg BT 473.28 397.25 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.05 397.25 Td ( of Notes to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 385.25 Td (Consolidated Financial Statements.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 368.25 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 368.25 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 368.25 Td (December31, 2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 368.25 Td ( compared to the year ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 368.25 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 350.32 368.25 Td (1) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.32 368.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 351.25 Td (Net income, as compared to the prior year period, increased in 2012 primarily due to more favorable prior accident year reserve ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 339.25 Td (development, lower current accident year catastrophes, and a $73 after) Tj ET Q q 0 0 0 rg BT 313.67 339.25 Td (-tax char) Tj ET Q q 0 0 0 rg BT 348.74 339.25 Td (ge in 201) Tj ET Q q 0 0 0 rg BT 385.59 339.25 Td (1, related to the write of) Tj ET Q q 0 0 0 rg BT 481.48 339.25 Td (f of capitalized costs ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 327.25 Td (associated with a policy administration software project that was discontinued.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 310.25 Td (Earned premiums decreased in auto and were down modestly for homeowners, as a decline in renewal written premium more than of) Tj ET Q q 0 0 0 rg BT 563.64 310.25 Td (fset ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 298.25 Td (an increase in new business written premium. Compared to 201) Tj ET Q q 0 0 0 rg BT 285.51 298.25 Td (1, the number of policies in-force decreased for both auto and home, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 286.25 Td (driven by non-renewals. Policy count retention for auto and home increased as moderating renewal written price increases improved the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 274.25 Td (Company's price competitiveness. Changes in underwriting practices and service operations have also contributed to the improvement in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 262.25 Td (retention.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.25 Td (Auto and home new business written premium increased primarily due to more competitive new business pricing in ) Tj ET Q q 0 0 0 rg BT 496.68 245.25 Td (AARP) Tj ET Q q 0 0 0 rg BT 522.98 245.25 Td ( Direct and an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (increase in the sale of the ) Tj ET Q q 0 0 0 rg BT 134.79 233.25 Td (AARP) Tj ET Q q 0 0 0 rg BT 161.09 233.25 Td ( auto product through independent agents. ) Tj ET Q q 0 0 0 rg BT 331.71 233.25 Td (The lower auto and homeowners renewal earned pricing in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.25 Td (2012 was primarily due to lower rate increases. For both auto and homeowners, an increase in earned pricing was partially of) Tj ET Q q 0 0 0 rg BT 532.27 221.25 Td (fset by a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.25 Td (shift in the mix of business by territory) Tj ET Q q 0 0 0 rg BT 186.67 209.25 Td (, class plan and pricing tier to policies with lower average earned premium, such that increases in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.25 Td (average earned premium were less than the increases in earned pricing.) Tj ET Q endstream endobj 157 0 obj <> endobj 158 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Losses and loss adjustment expenses reflect a decline in current accident year before catastrophes and current accident year catastrophes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (partially of) Tj ET Q q 0 0 0 rg BT 75.47 701.10 Td (fset by favorable prior accident years development. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 684.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 684.10 Td (Current accident year losses and loss adjustment expenses before catastrophes decreased primarily due to lower earned ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 672.10 Td (premiums and a decrease in the overall current accident year loss and loss adjustment expense ratio before catastrophes. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 660.10 Td (2012, the current accident year loss and loss adjustment expense ratio before catastrophes decreased primarily due to a decrease ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 648.10 Td (in home, partially of) Tj ET Q q 0 0 0 rg BT 148.96 648.10 Td (fset by an increase in auto. ) Tj ET Q q 0 0 0 rg BT 257.91 648.10 Td (The decrease for home was primarily due to earned pricing increases and a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 636.10 Td (decrease in the frequency of non-catastrophe weather claims. ) Tj ET Q q 0 0 0 rg BT 314.15 636.10 Td (The increase for auto was primarily due to higher loss cost ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 624.10 Td (severity for first party physical damage and third party property damage claims, lar) Tj ET Q q 0 0 0 rg BT 399.70 624.10 Td (gely of) Tj ET Q q 0 0 0 rg BT 427.57 624.10 Td (fset by the ef) Tj ET Q q 0 0 0 rg BT 479.31 624.10 Td (fect of earned pricing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 612.10 Td (increases.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 595.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 595.10 Td (Current accident year catastrophe losses of $381, before tax, in 2012 compared to $425, before tax in 201) Tj ET Q q 0 0 0 rg BT 489.21 595.10 Td (1. Losses in 2012 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 583.10 Td (were primarily driven by $143 related to Storm Sandy and multiple thunderstorm, hail, and tornado events across various U.S. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 571.10 Td (geographic regions. Losses in 201) Tj ET Q q 0 0 0 rg BT 205.99 571.10 Td (1 were primarily driven by $60 related to Hurricane Irene and multiple tornado, winter storm, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 559.10 Td (and thunderstorm events across various U.S. geographic regions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 542.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 542.10 Td (Favorable prior year development of $141, pre-tax, in 2012 compared with $75, pre-tax, in 201) Tj ET Q q 0 0 0 rg BT 448.13 542.10 Td (1, as a result of more favorable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 530.10 Td (development in homeowners' and catastrophe losses. For additional information regarding prior accident years reserve ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 518.10 Td (development, see the Property and Casualty Insurance Product Reserves, Net of Reinsurance section within Critical ) Tj ET Q q 0 0 0 rg BT 532.09 518.10 Td (Accounting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 506.10 Td (Estimates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 489.10 Td (The combined ratio, before current accident year catastrophes and prior year development, improved 1.1 points to 90.8 in 2012 from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 477.10 Td (91.9 in 201) Tj ET Q q 0 0 0 rg BT 76.41 477.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 88.73 477.10 Td (The improvement in the combined ratio reflects a 2 point decrease in the current accident year before catastrophes ratio, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 465.10 Td (partially of) Tj ET Q q 0 0 0 rg BT 75.47 465.10 Td (fset by a slight increase in the expense ratio. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 448.10 Td (The ) Tj ET Q q 0 0 0 rg BT 48.36 448.10 Td (ef) Tj ET Q q 0 0 0 rg BT 55.95 448.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 84.46 448.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 97.99 448.10 Td (rate, ) Tj ET Q q 0 0 0 rg BT 116.78 448.10 Td (in ) Tj ET Q q 0 0 0 rg BT 125.87 448.10 Td (both ) Tj ET Q q 0 0 0 rg BT 144.96 448.10 Td (periods, ) Tj ET Q q 0 0 0 rg BT 178.21 448.10 Td (dif) Tj ET Q q 0 0 0 rg BT 189.14 448.10 Td (fers ) Tj ET Q q 0 0 0 rg BT 205.44 448.10 Td (from ) Tj ET Q q 0 0 0 rg BT 226.19 448.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.72 448.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 258.81 448.10 Td (Federal ) Tj ET Q q 0 0 0 rg BT 290.11 448.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 326.41 448.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 342.71 448.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 381.23 448.10 Td (due ) Tj ET Q q 0 0 0 rg BT 396.98 448.10 Td (to ) Tj ET Q q 0 0 0 rg BT 406.07 448.10 Td (permanent ) Tj ET Q q 0 0 0 rg BT 449.59 448.10 Td (dif) Tj ET Q q 0 0 0 rg BT 460.51 448.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 495.13 448.10 Td (related ) Tj ET Q q 0 0 0 rg BT 523.64 448.10 Td (to ) Tj ET Q q 0 0 0 rg BT 532.73 448.10 Td (investments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 436.10 Td (in ) Tj ET Q q 0 0 0 rg BT 41.25 436.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 55.44 436.10 Td (exempt ) Tj ET Q q 0 0 0 rg BT 86.84 436.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 129.07 436.10 Td (For ) Tj ET Q q 0 0 0 rg BT 144.94 436.10 Td (further ) Tj ET Q q 0 0 0 rg BT 174.11 436.10 Td (discussion ) Tj ET Q q 0 0 0 rg BT 217.75 436.10 Td (of ) Tj ET Q q 0 0 0 rg BT 228.05 436.10 Td (income ) Tj ET Q q 0 0 0 rg BT 259.46 436.10 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 284.47 436.10 Td (see ) Tj ET Q q 0 0 0 rg BT 299.21 436.10 Td (Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.62 436.10 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.62 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 332.59 436.10 Td (- ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.89 436.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 369.70 436.10 Td (T) Tj ET Q q 0 0 0 rg BT 375.11 436.10 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.88 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 394.85 436.10 Td (of ) Tj ET Q q 0 0 0 rg BT 405.15 436.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 430.45 436.10 Td (to ) Tj ET Q q 0 0 0 rg BT 440.20 436.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 494.95 436.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 534.13 436.10 Td (Statements.) Tj ET Q endstream endobj 159 0 obj <> endobj 160 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (79) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (PROPER) Tj ET Q q 0 0 0 rg BT 72.26 713.25 Td (TY) Tj ET Q q 0 0 0 rg BT 85.78 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 88.28 713.25 Td (& ) Tj ET Q q 0 0 0 rg BT 99.11 713.25 Td (CASUAL) Tj ET Q q 0 0 0 rg BT 139.31 713.25 Td (TY) Tj ET Q q 0 0 0 rg BT 152.83 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 155.33 713.25 Td (OTHER ) Tj ET Q q 0 0 0 rg BT 193.95 713.25 Td (OPERA) Tj ET Q q 0 0 0 rg BT 228.20 713.25 Td (TIONS) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 64.01 695.25 Td (of ) Tj ET Q q 0 0 0 rg BT 74.84 695.25 Td (Operations) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 664.75 343.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 664.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 664.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 664.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 636.75 343.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 636.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 636.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 636.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 608.75 343.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 608.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 608.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 608.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 580.75 343.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 580.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 580.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 580.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 553.75 343.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 553.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 553.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 553.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 525.75 343.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 525.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 525.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 525.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 497.75 343.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 497.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 497.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 497.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 470.75 343.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 470.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 470.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 470.75 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 664.75 m 375 664.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375 664.75 m 440 664.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440 664.75 m 505 664.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 664.75 m 570 664.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 636.75 m 375 636.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375 636.75 m 440 636.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440 636.75 m 505 636.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 636.75 m 570 636.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 594.75 m 375 594.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375 594.75 m 440 594.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440 594.75 m 505 594.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 594.75 m 570 594.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 566.75 m 375 566.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375 566.75 m 440 566.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440 566.75 m 505 566.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 566.75 m 570 566.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 497.75 m 375 497.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375 497.75 m 440 497.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440 497.75 m 505 497.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 497.75 m 570 497.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 470.75 m 375 470.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375 470.75 m 440 470.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440 470.75 m 505 470.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 470.75 m 570 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 457.75 m 375 457.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 457.75 m 440 457.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 457.75 m 505 457.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 457.75 m 570 457.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 669.20 Td (Underwriting Summary) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.00 669.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.00 669.20 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.20 669.20 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 655.32 Td (Written premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.50 655.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 655.32 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.50 655.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 655.32 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.50 655.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 655.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 641.32 Td (Change in unearned premium reserve) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 641.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 641.32 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 641.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 627.32 Td (Earned premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 627.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.80 627.37 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 627.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 627.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 613.32 Td (Losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 599.32 Td (Prior accident years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 599.32 Td (148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 599.32 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.15 599.32 Td (317) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 585.32 Td (Total losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 585.32 Td (148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 585.32 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.15 585.32 Td (317) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 571.32 Td (Underwriting expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.15 571.32 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 571.32 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 571.32 Td (27) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 557.48 Td (Underwriting losses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 417.80 557.53 Td (\(176) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.15 557.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.80 557.53 Td (\(100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.15 557.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 547.80 557.48 Td (\(344) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 566.15 557.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 544.32 Td (Net servicing expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 544.37 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.15 544.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 544.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 544.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 530.32 Td (Net investment income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 530.32 Td (141) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.15 530.32 Td (149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.15 530.32 Td (151) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 516.32 Td (Net realized capital gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.15 516.32 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 516.32 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.80 516.32 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.15 516.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 502.32 Td (Other income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 502.32 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 502.32 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 502.32 Td (3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 488.48 Td (Income \(loss\) before income taxes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.80 488.53 Td (\(22) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.15 488.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 491.15 488.48 Td (71) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 547.80 488.48 Td (\(191) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 566.15 488.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 475.32 Td (Income tax expense \(benefit\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.80 475.37 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.15 475.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 475.32 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.80 475.32 Td (\(74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.15 475.32 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 461.48 Td (Net income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 377.50 461.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.80 461.53 Td (\(2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.15 461.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.50 461.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 491.15 461.48 Td (57) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.50 461.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 547.80 461.48 Td (\(117) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 566.15 461.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 441.25 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 441.25 Td (ear ) Tj ET Q q 0 0 0 rg BT 52.33 441.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 441.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.41 441.25 Td (2013) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 441.25 Td ( ) Tj ET Q q 0 0 0 rg BT 160.91 441.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.96 441.25 Td (to ) Tj ET Q q 0 0 0 rg BT 214.24 441.25 Td (the ) Tj ET Q q 0 0 0 rg BT 229.52 441.25 Td (year ) Tj ET Q q 0 0 0 rg BT 249.79 441.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 441.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.87 441.25 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.87 441.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 424.25 Td (Net income, as compared to the prior year period, declined in 2013 primarily due to net asbestos and environmental reserve ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 412.25 Td (strengthening. ) Tj ET Q q 0 0 0 rg BT 92.88 412.25 Td (As part of its annual ground-up asbestos and environmental reserve evaluations in 2013, the Company strengthened its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 400.25 Td (associated reserves by $130 and $10, before tax, respectively) Tj ET Q q 0 0 0 rg BT 275.21 400.25 Td (. In 2012, the Company strengthened its net asbestos and environmental ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 388.25 Td (reserves by $48 and $3, before tax, respectively) Tj ET Q q 0 0 0 rg BT 221.61 388.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 370.25 Td (For information on net asbestos and environmental reserves, see Property& Casualty Other Operations Claims within the Property and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 358.25 Td (Casualty Insurance Product Reserves, Net of Reinsurance section in Critical ) Tj ET Q q 0 0 0 rg BT 337.80 358.25 Td (Accounting Estimates.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 340.25 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 340.25 Td (ear ) Tj ET Q q 0 0 0 rg BT 52.33 340.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 340.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.41 340.25 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 340.25 Td ( ) Tj ET Q q 0 0 0 rg BT 160.91 340.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.96 340.25 Td (to ) Tj ET Q q 0 0 0 rg BT 214.24 340.25 Td (the ) Tj ET Q q 0 0 0 rg BT 229.52 340.25 Td (year ) Tj ET Q q 0 0 0 rg BT 249.79 340.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 340.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.87 340.25 Td (201) Tj ET Q q 0 0 0 rg BT 350.32 340.25 Td (1) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.32 340.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.25 Td (Net income, as compared to the prior year period, increased in 2012. ) Tj ET Q q 0 0 0 rg BT 307.79 323.25 Td (As a result of annual reviews of asbestos and environmental ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.25 Td (liabilities, the company strengthened its net asbestos reserves by $48, pre-tax, and environmental reserves by $3, pre-tax, as compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.25 Td ($290, pre-tax, and $19, pre-tax, respectively) Tj ET Q q 0 0 0 rg BT 207.73 299.25 Td (, in 201) Tj ET Q q 0 0 0 rg BT 237.64 299.25 Td (1.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.25 Td (For information on net asbestos and environmental reserves, see Property & Casualty Other Operations Claims within the Property and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.25 Td (Casualty Insurance Product Reserves, Net of Reinsurance section in Critical ) Tj ET Q q 0 0 0 rg BT 337.80 269.25 Td (Accounting Estimates.) Tj ET Q endstream endobj 161 0 obj <> endobj 162 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (80) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (GROUP) Tj ET Q q 0 0 0 rg BT 67.06 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 69.56 713.25 Td (BENEFITS) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 64.01 695.25 Td (of ) Tj ET Q q 0 0 0 rg BT 74.84 695.25 Td (Operations) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 664.75 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 664.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 664.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 664.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 636.75 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 636.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 636.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 636.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 609.75 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 609.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 609.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 609.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 581.75 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 581.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 581.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 581.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 554.75 352.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 554.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 554.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 554.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 527.75 352.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 527.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 527.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 527.75 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 664.75 m 384 664.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384 664.75 m 449 664.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 664.75 m 514 664.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 514 664.75 m 579 664.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 622.75 m 384 622.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384 622.75 m 449 622.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 622.75 m 514 622.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 514 622.75 m 579 622.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 567.75 m 384 567.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384 567.75 m 449 567.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 567.75 m 514 567.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 514 567.75 m 579 567.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 527.75 m 384 527.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384 527.75 m 449 527.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 527.75 m 514 527.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 514 527.75 m 579 527.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 514.75 m 384 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 514.75 m 449 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 514.75 m 514 514.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 514.75 m 579 514.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 669.20 Td (Operating Summary) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 407.00 669.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.00 669.20 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.20 669.20 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 655.32 Td (Premiums and other considerations [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.50 655.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.65 655.32 Td (3,330) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.50 655.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.65 655.32 Td (3,810) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.50 655.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.65 655.32 Td (4,147) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 641.32 Td (Net investment income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.15 641.32 Td (390) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.15 641.32 Td (405) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 641.32 Td (411) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 627.32 Td (Net realized capital gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.15 627.32 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 627.32 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.80 627.32 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 627.32 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 613.48 Td (Total revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.65 613.48 Td (3,770) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.65 613.48 Td (4,255) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 552.65 613.48 Td (4,555) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 600.32 Td (Benefits, losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.65 600.32 Td (2,518) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.65 600.32 Td (3,029) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.65 600.32 Td (3,306) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 586.32 Td (Amortization of deferred policy acquisition costs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.15 586.32 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 586.32 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.15 586.32 Td (35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 572.32 Td (Insurance operating costs and other expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.15 572.32 Td (964) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.65 572.32 Td (1,033) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.65 572.32 Td (1,121) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 558.48 Td (Total benefits, losses and expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.65 558.48 Td (3,515) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.65 558.48 Td (4,095) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 552.65 558.48 Td (4,462) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 545.48 Td (Income before income taxes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.15 545.48 Td (255) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.15 545.48 Td (160) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 565.15 545.48 Td (93) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 532.32 Td (Income tax expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.15 532.32 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 532.32 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 532.32 Td (1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 518.48 Td (Net income [1]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 386.50 518.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.15 518.48 Td (192) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 451.50 518.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.15 518.48 Td (129) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.50 518.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 565.15 518.48 Td (92) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 484.75 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 484.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 484.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 484.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 456.75 352.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 456.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 456.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 456.75 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 429.75 352.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 429.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 429.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 429.75 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 484.75 m 384 484.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384 484.75 m 449 484.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 484.75 m 514 484.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 514 484.75 m 579 484.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 442.75 m 384 442.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384 442.75 m 449 442.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 442.75 m 514 442.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 514 442.75 m 579 442.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 429.75 m 384 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 429.75 m 449 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 429.75 m 514 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 429.75 m 579 429.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 416.75 m 384 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 416.75 m 449 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 416.75 m 514 416.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 416.75 m 579 416.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 489.43 Td (Premiums and other considerations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 475.32 Td (Fully insured ongoing premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.50 475.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.65 475.32 Td (3,272) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.50 475.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.65 475.32 Td (3,745) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.50 475.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.65 475.32 Td (4,036) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 461.32 Td (Buyout premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 461.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.15 461.32 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.15 461.32 Td (49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 447.32 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.15 447.32 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 447.32 Td (62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.15 447.32 Td (62) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 433.48 Td (Total premiums and other considerations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.65 433.48 Td (3,330) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.65 433.48 Td (3,810) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 552.65 433.48 Td (4,147) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 420.48 Td (Fully insured ongoing sales, excluding buyouts) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 386.50 420.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.15 420.48 Td (393) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 451.50 420.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.15 420.48 Td (405) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.50 420.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 560.15 420.48 Td (505) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 386.75 351.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 386.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 386.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 386.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 358.75 351.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 358.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 358.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 358.75 66.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 386.75 m 383 386.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383 386.75 m 449 386.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 386.75 m 515 386.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 386.75 m 581 386.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 330.75 m 383 330.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 330.75 m 449 330.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 330.75 m 515 330.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 330.75 m 581 330.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 391.43 Td (Ratios, excluding buyouts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 377.32 Td (Loss ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.65 377.32 Td (75.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 377.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 377.32 Td (79.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 377.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 377.32 Td (79.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 377.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 363.32 Td (Loss ratio, excluding financial institutions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.65 363.32 Td (79.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 363.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 363.32 Td (84.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 363.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 363.32 Td (84.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 363.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 349.32 Td (Expense ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.65 349.32 Td (29.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 349.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 349.32 Td (28.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 349.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 349.32 Td (28.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 349.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 335.32 Td (Expense ratio, excluding financial institutions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.65 335.32 Td (26.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 335.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 335.32 Td (24.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 335.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 335.32 Td (23.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 335.32 Td (%) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 307.75 351.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 307.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 307.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 307.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 278.75 351.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 278.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 278.75 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 278.75 66.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 307.75 m 383 307.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383 307.75 m 449 307.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 307.75 m 515 307.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 307.75 m 581 307.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 278.75 m 383 278.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383 278.75 m 449 278.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 278.75 m 515 278.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 278.75 m 581 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 264.75 m 383 264.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383 278.75 m 449 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 264.75 m 449 264.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 278.75 m 515 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 264.75 m 515 264.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 278.75 m 581 278.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 264.75 m 581 264.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 311.48 Td (After-tax margin) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 298.43 Td (After-tax margin \(excluding buyouts\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 426.00 298.43 Td (5.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 438.50 298.43 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.00 298.43 Td (3.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.50 298.43 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.00 298.43 Td (2.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.50 298.43 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 283.42 Td (Effect of net realized gains, net of tax on after-tax margin) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.00 283.42 Td (0.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 283.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.00 283.42 Td (0.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 283.42 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 283.42 Td (0.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 283.42 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 269.43 Td (After-tax margin \(excluding buyouts\), excluding realized gains) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 426.00 269.43 Td (4.3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 438.50 269.43 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.00 269.43 Td (2.4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.50 269.43 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.00 269.43 Td (1.9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.50 269.43 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 247.25 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 247.25 Td (Gr) Tj ET Q q 0 0 0 rg BT 59.17 247.25 Td (oup ) Tj ET Q q 0 0 0 rg BT 75.27 247.25 Td (Benefits ) Tj ET Q q 0 0 0 rg BT 106.86 247.25 Td (has ) Tj ET Q q 0 0 0 rg BT 121.97 247.25 Td (a ) Tj ET Q q 0 0 0 rg BT 129.07 247.25 Td (block ) Tj ET Q q 0 0 0 rg BT 151.16 247.25 Td (of ) Tj ET Q q 0 0 0 rg BT 160.57 247.25 Td (Association ) Tj ET Q q 0 0 0 rg BT 205.17 247.25 Td (- ) Tj ET Q q 0 0 0 rg BT 210.77 247.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 248.37 247.25 Td (Institution ) Tj ET Q q 0 0 0 rg BT 287.97 247.25 Td (business ) Tj ET Q q 0 0 0 rg BT 321.07 247.25 Td (\("association ) Tj ET Q q 0 0 0 rg BT 371.45 247.25 Td (business"\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.73 247.25 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 411.62 247.25 Td (that ) Tj ET Q q 0 0 0 rg BT 428.23 247.25 Td (is ) Tj ET Q q 0 0 0 rg BT 436.83 247.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 464.92 247.25 Td (to ) Tj ET Q q 0 0 0 rg BT 474.53 247.25 Td (a ) Tj ET Q q 0 0 0 rg BT 481.63 247.25 Td (pr) Tj ET Q q 0 0 0 rg BT 489.30 247.25 Td (ofit ) Tj ET Q q 0 0 0 rg BT 503.90 247.25 Td (sharing ) Tj ET Q q 0 0 0 rg BT 534.01 247.25 Td (arrangement ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 236.45 Td (with ) Tj ET Q q 0 0 0 rg BT 66.67 236.45 Td (thir) Tj ET Q q 0 0 0 rg BT 79.34 236.45 Td (d ) Tj ET Q q 0 0 0 rg BT 85.51 236.45 Td (parties. ) Tj ET Q q 0 0 0 rg BT 114.43 236.45 Td (The ) Tj ET Q q 0 0 0 rg BT 129.60 236.45 Td (association ) Tj ET Q q 0 0 0 rg BT 172.27 236.45 Td (business ) Tj ET Q q 0 0 0 rg BT 204.44 236.45 Td (r) Tj ET Q q 0 0 0 rg BT 207.61 236.45 Td (epr) Tj ET Q q 0 0 0 rg BT 219.27 236.45 Td (esented ) Tj ET Q q 0 0 0 rg BT 247.93 236.45 Td ($277, ) Tj ET Q q 0 0 0 rg BT 269.85 236.45 Td ($321 ) Tj ET Q q 0 0 0 rg BT 289.52 236.45 Td (and ) Tj ET Q q 0 0 0 rg BT 304.69 236.45 Td ($367 ) Tj ET Q q 0 0 0 rg BT 324.35 236.45 Td (of ) Tj ET Q q 0 0 0 rg BT 333.02 236.45 Td (pr) Tj ET Q q 0 0 0 rg BT 340.69 236.45 Td (emiums ) Tj ET Q q 0 0 0 rg BT 369.86 236.45 Td (and ) Tj ET Q q 0 0 0 rg BT 385.03 236.45 Td (other ) Tj ET Q q 0 0 0 rg BT 405.69 236.45 Td (considerations, ) Tj ET Q q 0 0 0 rg BT 462.61 236.45 Td (and ) Tj ET Q q 0 0 0 rg BT 477.78 236.45 Td ($1, ) Tj ET Q q 0 0 0 rg BT 490.70 236.45 Td ($2 ) Tj ET Q q 0 0 0 rg BT 501.37 236.45 Td (and ) Tj ET Q q 0 0 0 rg BT 516.54 236.45 Td ($\(6\) ) Tj ET Q q 0 0 0 rg BT 533.20 236.45 Td (of ) Tj ET Q q 0 0 0 rg BT 541.87 236.45 Td (net ) Tj ET Q q 0 0 0 rg BT 554.53 236.45 Td (income ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 225.65 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 71.75 225.65 Td (in ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 81.00 225.65 Td (2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 99.00 225.65 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 103.50 225.65 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 121.50 225.65 Td ( ) Tj ET Q q 0 0 0 rg BT 123.75 225.65 Td (and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 139.50 225.65 Td (201) Tj ET Q q 0 0 0 rg BT 152.33 225.65 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 156.83 225.65 Td (, ) Tj ET Q q 0 0 0 rg BT 161.33 225.65 Td (r) Tj ET Q q 0 0 0 rg BT 164.50 225.65 Td (espectively) Tj ET Q q 0 0 0 rg BT 203.48 225.65 Td (. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 202.85 Td (2014 ) Tj ET Q q 0 0 0 rg BT 54.00 202.85 Td (Outlook) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 184.85 Td (The Company expects premiums to decline for 2014 as compared to 2013 reflecting management actions to reduce the association ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 172.85 Td (business. Overall, the reduction in association business premiums is not expected to significantly impact the profitability of the Group ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 160.85 Td (Benefits segment. ) Tj ET Q q 0 0 0 rg BT 105.47 160.85 Td (The Company expects Group Benefits' disability results to improve as a result of continued pricing actions, continued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 148.85 Td (favorable claim recoveries and lower incidence. ) Tj ET Q q 0 0 0 rg BT 225.39 148.85 Td (The Company expects Group Benefits' after) Tj ET Q q 0 0 0 rg BT 401.10 148.85 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 434.51 148.85 Td (gin \(excluding buyouts and realized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 136.85 Td (gains\) will be between approximately 4.5% and 5.0% for 2014 as compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.80 136.85 Td (4.3%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.63 136.85 Td ( in 2013. ) Tj ET Q endstream endobj 163 0 obj <> endobj 164 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (81) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 713.25 Td (ear ) Tj ET Q q 0 0 0 rg BT 52.33 713.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 713.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.41 713.25 Td (2013) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 160.91 713.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.96 713.25 Td (to ) Tj ET Q q 0 0 0 rg BT 214.24 713.25 Td (the ) Tj ET Q q 0 0 0 rg BT 229.52 713.25 Td (year ) Tj ET Q q 0 0 0 rg BT 249.79 713.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 713.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.87 713.25 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.87 713.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Net income, as compared to the prior year period, increased in 2013 driven primarily by an improvement in the loss ratio and lower ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (insurance operating costs and other expenses, partially of) Tj ET Q q 0 0 0 rg BT 260.13 683.25 Td (fset by a decrease in premiums and other considerations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 661.25 Td (The decrease in premiums was driven by continued pricing discipline, our decision not to renew our lar) Tj ET Q q 0 0 0 rg BT 444.81 661.25 Td (gest account ef) Tj ET Q q 0 0 0 rg BT 504.60 661.25 Td (fective January 1, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 649.25 Td (2013 due to pricing and other considerations and management actions to reduce the association business. Insurance operating costs and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 637.25 Td (other expenses decreased in 2013 as compared to the prior year due to lower commission payments as a result of overall lower ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 625.25 Td (premiums. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 603.25 Td (The improvement in the loss ratio in 2013 was primarily attributable to the long-term disability product driven by favorable claim ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 591.25 Td (recoveries from claims incurred in 2013 and prior years, lower incidence trends and improved renewal pricing. ) Tj ET Q q 0 0 0 rg BT 476.90 591.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 526.80 591.25 Td (, the 2012 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 579.25 Td (loss ratio reflected unfavorable long-term disability severity) Tj ET Q q 0 0 0 rg BT 270.77 579.25 Td (. ) Tj ET Q q 0 0 0 rg BT 275.59 579.25 Td (The increase in after) Tj ET Q q 0 0 0 rg BT 357.29 579.25 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 390.70 579.25 Td (gin, excluding buyouts and net realized capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 567.25 Td (gains \(losses\), was primarily due to an improved loss ratio. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 57.13 545.25 Td (fective tax rate, in both periods, dif) Tj ET Q q 0 0 0 rg BT 197.46 545.25 Td (fers from the U.S. Federal statutory rate primarily due to permanent dif) Tj ET Q q 0 0 0 rg BT 481.92 545.25 Td (ferences related to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (investments in tax exempt securities. For further discussion of income taxes, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.25 533.25 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.25 533.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.58 533.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 427.89 533.25 Td (T) Tj ET Q q 0 0 0 rg BT 433.30 533.25 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.07 533.25 Td ( of Notes to Consolidated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (Financial Statements.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 497.25 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 497.25 Td (ear ) Tj ET Q q 0 0 0 rg BT 52.33 497.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 497.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.41 497.25 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 497.25 Td ( ) Tj ET Q q 0 0 0 rg BT 160.91 497.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.96 497.25 Td (to ) Tj ET Q q 0 0 0 rg BT 214.24 497.25 Td (the ) Tj ET Q q 0 0 0 rg BT 229.52 497.25 Td (year ) Tj ET Q q 0 0 0 rg BT 249.79 497.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 497.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.87 497.25 Td (201) Tj ET Q q 0 0 0 rg BT 350.32 497.25 Td (1) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.32 497.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (Net income, as compared to the prior year period, increased in 2012. ) Tj ET Q q 0 0 0 rg BT 308.17 479.25 Td (While realized capital gains improved in current year) Tj ET Q q 0 0 0 rg BT 520.72 479.25 Td (, this was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.25 Td (partially of) Tj ET Q q 0 0 0 rg BT 75.47 467.25 Td (fset by a decrease in fully insured ongoing premiums, due to the lower sales and persistency resulting from the Company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 454.05 Td (pricing initiatives as well as the competitive market environment.) Tj ET Q BT /F6 11.00 Tf ET q 0 0 0 rg BT 293.37 454.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 436.05 Td (The change in insurance operating costs and other expenses is due to lower commission payments as a result of lower sales and a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 424.05 Td (onetime payment to a third party administrator in the first quarter of 201) Tj ET Q q 0 0 0 rg BT 320.49 424.05 Td (1.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 406.05 Td (The loss ratio remained flat for both years 2012 and 201) Tj ET Q q 0 0 0 rg BT 256.07 406.05 Td (1. Loss experience in 2012 reflects stable incidence trends during the year) Tj ET Q q 0 0 0 rg BT 551.67 406.05 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 394.05 Td (although elevated when compared to historical levels, and a continuation of the slightly improving claim recoveries in group long-term ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 382.05 Td (disability that emer) Tj ET Q q 0 0 0 rg BT 108.52 382.05 Td (ged in mid-2012. Group life claims experience deteriorated modestly compared with 201) Tj ET Q q 0 0 0 rg BT 464.15 382.05 Td (1 but remained more ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 370.05 Td (favorable than group long-term disability) Tj ET Q q 0 0 0 rg BT 195.81 370.05 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 352.05 Td (The increase in after) Tj ET Q q 0 0 0 rg BT 113.19 352.05 Td (-tax mar) Tj ET Q q 0 0 0 rg BT 146.61 352.05 Td (gin \(excluding buyouts\), excluding realized gains \(losses\), was primarily due to lower insurance operating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 340.05 Td (costs and other expenses, partially of) Tj ET Q q 0 0 0 rg BT 179.05 340.05 Td (fset by the impact of lower premiums and other considerations due to lower sales and persistency) Tj ET Q q 0 0 0 rg BT 567.46 340.05 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 322.05 Td (The ) Tj ET Q q 0 0 0 rg BT 48.36 322.05 Td (ef) Tj ET Q q 0 0 0 rg BT 55.95 322.05 Td (fective ) Tj ET Q q 0 0 0 rg BT 84.46 322.05 Td (tax ) Tj ET Q q 0 0 0 rg BT 97.99 322.05 Td (rate, ) Tj ET Q q 0 0 0 rg BT 116.78 322.05 Td (in ) Tj ET Q q 0 0 0 rg BT 125.87 322.05 Td (both ) Tj ET Q q 0 0 0 rg BT 144.96 322.05 Td (periods, ) Tj ET Q q 0 0 0 rg BT 178.21 322.05 Td (dif) Tj ET Q q 0 0 0 rg BT 189.14 322.05 Td (fers ) Tj ET Q q 0 0 0 rg BT 205.44 322.05 Td (from ) Tj ET Q q 0 0 0 rg BT 226.19 322.05 Td (the ) Tj ET Q q 0 0 0 rg BT 239.72 322.05 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 258.81 322.05 Td (Federal ) Tj ET Q q 0 0 0 rg BT 290.11 322.05 Td (statutory ) Tj ET Q q 0 0 0 rg BT 326.41 322.05 Td (rate ) Tj ET Q q 0 0 0 rg BT 342.71 322.05 Td (primarily ) Tj ET Q q 0 0 0 rg BT 381.23 322.05 Td (due ) Tj ET Q q 0 0 0 rg BT 396.98 322.05 Td (to ) Tj ET Q q 0 0 0 rg BT 406.07 322.05 Td (permanent ) Tj ET Q q 0 0 0 rg BT 449.59 322.05 Td (dif) Tj ET Q q 0 0 0 rg BT 460.51 322.05 Td (ferences ) Tj ET Q q 0 0 0 rg BT 495.13 322.05 Td (related ) Tj ET Q q 0 0 0 rg BT 523.64 322.05 Td (to ) Tj ET Q q 0 0 0 rg BT 532.73 322.05 Td (investments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 310.05 Td (in ) Tj ET Q q 0 0 0 rg BT 41.16 310.05 Td (tax ) Tj ET Q q 0 0 0 rg BT 55.25 310.05 Td (exempt ) Tj ET Q q 0 0 0 rg BT 86.57 310.05 Td (securities. ) Tj ET Q q 0 0 0 rg BT 128.71 310.05 Td ( ) Tj ET Q q 0 0 0 rg BT 130.59 310.05 Td (For ) Tj ET Q q 0 0 0 rg BT 146.36 310.05 Td (further ) Tj ET Q q 0 0 0 rg BT 175.45 310.05 Td (discussion ) Tj ET Q q 0 0 0 rg BT 219.00 310.05 Td (of ) Tj ET Q q 0 0 0 rg BT 229.21 310.05 Td (income ) Tj ET Q q 0 0 0 rg BT 260.52 310.05 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 285.45 310.05 Td (see ) Tj ET Q q 0 0 0 rg BT 300.10 310.05 Td (Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.42 310.05 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.42 310.05 Td ( ) Tj ET Q q 0 0 0 rg BT 333.30 310.05 Td (- ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.51 310.05 Td (Income ) Tj ET Q q 0 0 0 rg BT 370.24 310.05 Td (T) Tj ET Q q 0 0 0 rg BT 375.65 310.05 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.42 310.05 Td ( ) Tj ET Q q 0 0 0 rg BT 395.29 310.05 Td (of ) Tj ET Q q 0 0 0 rg BT 405.50 310.05 Td (Notes ) Tj ET Q q 0 0 0 rg BT 430.71 310.05 Td (to ) Tj ET Q q 0 0 0 rg BT 440.37 310.05 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 495.03 310.05 Td (Financial ) Tj ET Q q 0 0 0 rg BT 534.12 310.05 Td (Statements.) Tj ET Q endstream endobj 165 0 obj <> endobj 166 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (82) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (MUTUAL) Tj ET Q q 0 0 0 rg BT 75.39 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 77.89 713.25 Td (FUNDS) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 696.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 64.01 696.25 Td (of ) Tj ET Q q 0 0 0 rg BT 74.84 696.25 Td (Operations) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 667.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 667.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 667.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 667.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 641.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 641.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 641.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 641.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 615.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 615.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 615.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 615.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 589.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 589.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 589.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 589.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 563.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 563.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 563.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 563.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 537.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 537.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 537.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 537.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 511.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 511.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 511.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 511.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 485.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 485.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 485.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 485.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 459.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 459.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 459.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 459.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 433.75 357.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 433.75 63.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 433.75 63.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 433.75 63.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 411.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 411.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 411.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 411.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 385.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 385.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 385.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 385.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 359.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 359.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 359.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 359.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 333.75 357.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 333.75 63.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 333.75 63.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 333.75 63.00 -9.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 311.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 311.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 311.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 311.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 285.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 285.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 285.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 285.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 259.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 259.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 259.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 259.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 233.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 233.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 233.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 233.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 207.75 357.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 207.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 207.75 63.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 207.75 63.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 667.75 m 389 667.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 667.75 m 452 667.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 667.75 m 515 667.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 667.75 m 578 667.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 667.75 m 389 667.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 628.75 m 389 628.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 628.75 m 452 628.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 628.75 m 515 628.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 628.75 m 578 628.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 589.75 m 389 589.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 589.75 m 452 589.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 589.75 m 515 589.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 589.75 m 578 589.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 550.75 m 389 550.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 550.75 m 452 550.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 550.75 m 515 550.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 550.75 m 578 550.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 537.75 m 389 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 537.75 m 452 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 537.75 m 515 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 537.75 m 578 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 537.75 m 389 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 537.75 m 452 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 537.75 m 515 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 537.75 m 578 537.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 472.75 m 389 472.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 472.75 m 452 472.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 472.75 m 515 472.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 472.75 m 578 472.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 446.75 m 389 446.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 446.75 m 452 446.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 446.75 m 515 446.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 446.75 m 578 446.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 433.75 m 389 433.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 433.75 m 452 433.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 433.75 m 515 433.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 433.75 m 578 433.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 372.75 m 389 372.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 372.75 m 452 372.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 372.75 m 515 372.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 372.75 m 578 372.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 346.75 m 389 346.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 346.75 m 452 346.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 346.75 m 515 346.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 346.75 m 578 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 333.75 m 389 333.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 346.75 m 578 346.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 333.75 m 578 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 333.75 m 389 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 333.75 m 452 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 333.75 m 515 333.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 333.75 m 578 333.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 272.75 m 389 272.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 272.75 m 452 272.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 272.75 m 515 272.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 272.75 m 578 272.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 246.75 m 389 246.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 246.75 m 452 246.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 246.75 m 515 246.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 246.75 m 578 246.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 233.75 m 389 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 233.75 m 452 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 233.75 m 515 233.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 246.75 m 578 246.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 233.75 m 578 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 220.75 m 389 220.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 233.75 m 452 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 220.75 m 452 220.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 233.75 m 515 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 220.75 m 515 220.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 233.75 m 578 233.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 220.75 m 578 220.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 220.75 m 452 220.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 207.75 m 452 207.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 220.75 m 515 220.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 207.75 m 515 207.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 220.75 m 578 220.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 207.75 m 578 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 207.75 m 389 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 194.75 m 389 194.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 207.75 m 452 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 194.75 m 452 194.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 207.75 m 515 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 194.75 m 515 194.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 207.75 m 578 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 194.75 m 578 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 181.75 m 389 181.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 194.75 m 452 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 181.75 m 452 181.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 452 194.75 m 515 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 181.75 m 515 181.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 194.75 m 578 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 181.75 m 578 181.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 671.48 Td (Operating Summary) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 410.00 671.48 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.00 671.48 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.25 671.48 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 658.32 Td (Fee income and other revenue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.50 658.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 658.32 Td (678) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.50 658.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 658.32 Td (599) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 658.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 658.32 Td (649) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 645.32 Td (Net investment loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 645.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.80 645.37 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 645.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.80 645.32 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 645.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 632.32 Td (Net realized capital losses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 632.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 632.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.15 632.32 Td (1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 619.48 Td (Total revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.15 619.48 Td (678) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 496.15 619.48 Td (596) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.15 619.48 Td (647) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 606.32 Td (Amortization of DAC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 606.32 Td (39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 606.32 Td (35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 606.32 Td (47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 593.32 Td (Insurance operating costs and other expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 593.32 Td (521) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 593.32 Td (452) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 593.32 Td (448) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 580.48 Td (Total benefits, losses and expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.15 580.48 Td (560) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 496.15 580.48 Td (487) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.15 580.48 Td (495) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 567.48 Td (Income before income taxes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.15 567.48 Td (118) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 496.15 567.48 Td (109) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.15 567.48 Td (152) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 554.32 Td (Income tax expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 554.32 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 554.32 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 554.32 Td (54) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 541.48 Td (Net income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 541.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 438.15 541.48 Td (76) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.50 541.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.15 541.48 Td (71) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 541.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 564.15 541.48 Td (98) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 529.15 Td (MUTUAL FUNDS AUM by DISTRIBUTION CHANNEL) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 515.48 Td (Retail Mutual Funds [1]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 502.48 Td ( AUM, beginning of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 502.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.65 502.48 Td (45,013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.50 502.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.65 502.48 Td (41,785) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 502.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 502.48 Td (50,225) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 489.32 Td (Sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.65 489.32 Td (11,303) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 489.32 Td (8,810) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.65 489.32 Td (11,145) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 476.32 Td (Redemptions [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.30 476.37 Td (\(12,721) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.15 476.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.30 476.37 Td (\(11,087) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 476.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.30 476.32 Td (\(16,560) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 476.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 463.32 Td (Net flows) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.30 463.53 Td (\(1,418) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.15 463.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 485.30 463.53 Td (\(2,277) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.15 463.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.30 463.48 Td (\(5,415) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 574.15 463.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 450.32 Td (Change in market value and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.65 450.32 Td (9,445) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 450.32 Td (5,505) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.30 450.32 Td (\(3,025) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 450.32 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 437.48 Td ( AUM, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 437.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.65 437.48 Td (53,040) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.50 437.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.65 437.48 Td (45,013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 437.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 437.48 Td (41,785) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 415.48 Td (Retirement Mutual Funds [2]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 402.48 Td ( AUM, beginning of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 402.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.65 402.48 Td (16,598) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.50 402.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.65 402.48 Td (16,140) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 402.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 402.48 Td (16,635) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 389.32 Td (Sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.65 389.32 Td (3,869) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 389.32 Td (3,031) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.65 389.32 Td (5,486) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 376.32 Td (Redemptions [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.30 376.37 Td (\(6,975) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.15 376.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.30 376.37 Td (\(5,171) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 376.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.30 376.32 Td (\(4,893) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 376.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 363.32 Td (Net flows) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.30 363.53 Td (\(3,106) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.15 363.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 485.30 363.53 Td (\(2,140) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.15 363.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.15 363.48 Td (593) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 350.32 Td (Change in market value and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.65 350.32 Td (4,386) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 350.32 Td (2,598) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.30 350.32 Td (\(1,088) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 350.32 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 337.48 Td ( AUM, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 337.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.65 337.48 Td (17,878) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.50 337.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.65 337.48 Td (16,598) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 337.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 337.48 Td (16,140) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 315.48 Td (Total Mutual Funds) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 302.48 Td ( AUM, beginning of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 302.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.65 302.48 Td (61,611) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.50 302.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.65 302.48 Td (57,925) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 302.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 302.48 Td (66,860) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 289.32 Td (Sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.65 289.32 Td (15,172) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.65 289.32 Td (11,841) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.65 289.32 Td (16,631) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 276.32 Td (Redemptions [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.30 276.37 Td (\(19,696) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.15 276.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.30 276.37 Td (\(16,258) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 276.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.30 276.32 Td (\(21,453) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 276.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 263.32 Td (Net flows) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.30 263.53 Td (\(4,524) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.15 263.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 485.30 263.53 Td (\(4,417) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.15 263.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.30 263.48 Td (\(4,822) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 574.15 263.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 250.32 Td (Change in market value and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.65 250.32 Td (13,831) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 250.32 Td (8,103) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.30 250.32 Td (\(4,113) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 250.32 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 237.48 Td ( AUM, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 237.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.65 237.48 Td (70,918) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.50 237.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.65 237.48 Td (61,611) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 237.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 237.48 Td (57,925) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 224.48 Td (Average Mutual Funds Assets Under Management) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 224.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.65 224.48 Td (66,265) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.50 224.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.65 224.48 Td (59,768) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 224.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 224.48 Td (62,392) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 211.48 Td (Annuity Mutual Fund Assets [4]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 211.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.65 211.48 Td (25,817) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.50 211.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.65 211.48 Td (26,036) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 211.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 211.48 Td (27,613) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 198.48 Td (Total Assets Under Management) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 198.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.65 198.48 Td (96,735) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.50 198.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.65 198.48 Td (87,647) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 198.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 198.48 Td (85,538) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 185.48 Td (Average Assets Under Management) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 185.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.65 185.48 Td (92,191) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.50 185.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.65 185.48 Td (86,592) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 185.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 185.48 Td (93,013) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 165.25 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 165.25 Td (Includes ) Tj ET Q q 0 0 0 rg BT 82.24 165.25 Td (mutual ) Tj ET Q q 0 0 0 rg BT 109.49 165.25 Td (funds ) Tj ET Q q 0 0 0 rg BT 131.24 165.25 Td (offer) Tj ET Q q 0 0 0 rg BT 147.91 165.25 Td (ed ) Tj ET Q q 0 0 0 rg BT 158.65 165.25 Td (within ) Tj ET Q q 0 0 0 rg BT 183.41 165.25 Td (529 ) Tj ET Q q 0 0 0 rg BT 199.16 165.25 Td (college ) Tj ET Q q 0 0 0 rg BT 227.39 165.25 Td (savings ) Tj ET Q q 0 0 0 rg BT 256.64 165.25 Td (plans ) Tj ET Q q 0 0 0 rg BT 278.39 165.25 Td (pr) Tj ET Q q 0 0 0 rg BT 286.06 165.25 Td (eviously ) Tj ET Q q 0 0 0 rg BT 317.80 165.25 Td (categorized ) Tj ET Q q 0 0 0 rg BT 362.04 165.25 Td (as ) Tj ET Q q 0 0 0 rg BT 372.29 165.25 Td (Other) Tj ET Q q 0 0 0 rg BT 392.29 165.25 Td (.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 31.50 154.45 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 154.45 Td (Includes ) Tj ET Q q 0 0 0 rg BT 81.97 154.45 Td (mutual ) Tj ET Q q 0 0 0 rg BT 108.95 154.45 Td (funds ) Tj ET Q q 0 0 0 rg BT 130.44 154.45 Td (offer) Tj ET Q q 0 0 0 rg BT 147.10 154.45 Td (ed ) Tj ET Q q 0 0 0 rg BT 157.58 154.45 Td (within ) Tj ET Q q 0 0 0 rg BT 182.07 154.45 Td (employee ) Tj ET Q q 0 0 0 rg BT 218.03 154.45 Td (dir) Tj ET Q q 0 0 0 rg BT 228.19 154.45 Td (ected ) Tj ET Q q 0 0 0 rg BT 249.16 154.45 Td (r) Tj ET Q q 0 0 0 rg BT 252.33 154.45 Td (etir) Tj ET Q q 0 0 0 rg BT 264.49 154.45 Td (ement ) Tj ET Q q 0 0 0 rg BT 287.96 154.45 Td (plans ) Tj ET Q q 0 0 0 rg BT 309.45 154.45 Td (including ) Tj ET Q q 0 0 0 rg BT 345.43 154.45 Td (on-going ) Tj ET Q q 0 0 0 rg BT 379.91 154.45 Td (business ) Tj ET Q q 0 0 0 rg BT 412.39 154.45 Td (r) Tj ET Q q 0 0 0 rg BT 415.56 154.45 Td (elated ) Tj ET Q q 0 0 0 rg BT 439.53 154.45 Td (to ) Tj ET Q q 0 0 0 rg BT 448.51 154.45 Td (the ) Tj ET Q q 0 0 0 rg BT 461.49 154.45 Td (Company's ) Tj ET Q q 0 0 0 rg BT 503.40 154.45 Td (Retir) Tj ET Q q 0 0 0 rg BT 521.06 154.45 Td (ement ) Tj ET Q q 0 0 0 rg BT 544.53 154.45 Td (Plans ) Tj ET Q q 0 0 0 rg BT 567.01 154.45 Td (and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 143.65 Td (Individual ) Tj ET Q q 0 0 0 rg BT 88.74 143.65 Td (Life ) Tj ET Q q 0 0 0 rg BT 104.99 143.65 Td (businesses ) Tj ET Q q 0 0 0 rg BT 145.24 143.65 Td (sold ) Tj ET Q q 0 0 0 rg BT 162.50 143.65 Td (in ) Tj ET Q q 0 0 0 rg BT 171.75 143.65 Td (January ) Tj ET Q q 0 0 0 rg BT 203.49 143.65 Td (2013.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.65 Td ([3] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 131.65 Td (Redemptions ) Tj ET Q q 0 0 0 rg BT 98.39 131.65 Td (in ) Tj ET Q q 0 0 0 rg BT 107.79 131.65 Td (the ) Tj ET Q q 0 0 0 rg BT 121.18 131.65 Td (r) Tj ET Q q 0 0 0 rg BT 124.35 131.65 Td (etail ) Tj ET Q q 0 0 0 rg BT 142.74 131.65 Td (channel ) Tj ET Q q 0 0 0 rg BT 173.63 131.65 Td (include ) Tj ET Q q 0 0 0 rg BT 202.52 131.65 Td (a ) Tj ET Q q 0 0 0 rg BT 209.42 131.65 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 243.32 131.65 Td (r) Tj ET Q q 0 0 0 rg BT 246.49 131.65 Td (ebalance ) Tj ET Q q 0 0 0 rg BT 281.37 131.65 Td (at ) Tj ET Q q 0 0 0 rg BT 290.77 131.65 Td (a ) Tj ET Q q 0 0 0 rg BT 297.67 131.65 Td (key ) Tj ET Q q 0 0 0 rg BT 312.05 131.65 Td (distributor ) Tj ET Q q 0 0 0 rg BT 352.96 131.65 Td (of ) Tj ET Q q 0 0 0 rg BT 362.36 131.65 Td ($1.1 ) Tj ET Q q 0 0 0 rg BT 380.51 131.65 Td (billion, ) Tj ET Q q 0 0 0 rg BT 408.66 131.65 Td (and ) Tj ET Q q 0 0 0 rg BT 424.56 131.65 Td (in ) Tj ET Q q 0 0 0 rg BT 433.96 131.65 Td (the ) Tj ET Q q 0 0 0 rg BT 447.35 131.65 Td (defined ) Tj ET Q q 0 0 0 rg BT 476.24 131.65 Td (contribution ) Tj ET Q q 0 0 0 rg BT 523.14 131.65 Td (channel ) Tj ET Q q 0 0 0 rg BT 554.02 131.65 Td (include ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 120.85 Td (an ) Tj ET Q q 0 0 0 rg BT 60.75 120.85 Td (institutional ) Tj ET Q q 0 0 0 rg BT 106.51 120.85 Td (r) Tj ET Q q 0 0 0 rg BT 109.67 120.85 Td (edemption ) Tj ET Q q 0 0 0 rg BT 149.41 120.85 Td (of ) Tj ET Q q 0 0 0 rg BT 158.66 120.85 Td ($1.4 ) Tj ET Q q 0 0 0 rg BT 176.66 120.85 Td (billion, ) Tj ET Q q 0 0 0 rg BT 204.67 120.85 Td (together ) Tj ET Q q 0 0 0 rg BT 236.91 120.85 Td (totaling ) Tj ET Q q 0 0 0 rg BT 267.16 120.85 Td ($2.5 ) Tj ET Q q 0 0 0 rg BT 285.16 120.85 Td (billion ) Tj ET Q q 0 0 0 rg BT 310.91 120.85 Td (for ) Tj ET Q q 0 0 0 rg BT 323.67 120.85 Td (the ) Tj ET Q q 0 0 0 rg BT 336.91 120.85 Td (year ) Tj ET Q q 0 0 0 rg BT 355.15 120.85 Td (ended ) Tj ET Q q 0 0 0 rg BT 378.89 120.85 Td (December ) Tj ET Q q 0 0 0 rg BT 418.12 120.85 Td (30, ) Tj ET Q q 0 0 0 rg BT 431.62 120.85 Td (2013. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 108.85 Td ([4] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 108.85 Td (Includes ) Tj ET Q q 0 0 0 rg BT 82.24 108.85 Td (Company-sponsor) Tj ET Q q 0 0 0 rg BT 147.91 108.85 Td (ed ) Tj ET Q q 0 0 0 rg BT 158.65 108.85 Td (mutual ) Tj ET Q q 0 0 0 rg BT 185.90 108.85 Td (fund ) Tj ET Q q 0 0 0 rg BT 204.15 108.85 Td (assets ) Tj ET Q q 0 0 0 rg BT 227.90 108.85 Td (held ) Tj ET Q q 0 0 0 rg BT 245.65 108.85 Td (in ) Tj ET Q q 0 0 0 rg BT 254.90 108.85 Td (separate ) Tj ET Q q 0 0 0 rg BT 288.15 108.85 Td (accounts ) Tj ET Q q 0 0 0 rg BT 322.39 108.85 Td (supporting ) Tj ET Q q 0 0 0 rg BT 363.64 108.85 Td (variable ) Tj ET Q q 0 0 0 rg BT 395.89 108.85 Td (insurance ) Tj ET Q q 0 0 0 rg BT 433.63 108.85 Td (and ) Tj ET Q q 0 0 0 rg BT 449.38 108.85 Td (investment ) Tj ET Q q 0 0 0 rg BT 490.12 108.85 Td (pr) Tj ET Q q 0 0 0 rg BT 497.79 108.85 Td (oducts.) Tj ET Q endstream endobj 167 0 obj <> endobj 168 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (83) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 702.50 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 702.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 702.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 702.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 672.50 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 672.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 672.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 672.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 642.50 356.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 642.50 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 642.50 62.00 -15.00 re f /GS0 gs 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i [] 0 d 0 J 0 j 3 M 32 657.5 m 388 657.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 642.5 m 388 642.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 657.5 m 450 657.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 642.5 m 450 642.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 657.5 m 512 657.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 642.5 m 512 642.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 657.5 m 574 657.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 642.5 m 574 642.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 582.5 m 388 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 567.5 m 388 567.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 582.5 m 450 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 567.5 m 450 567.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 582.5 m 512 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 567.5 m 512 567.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 582.5 m 574 582.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 567.5 m 574 567.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 706.95 Td (MUTUAL FUNDS AUM by ASSET CLASS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.50 707.18 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.50 707.18 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 532.75 707.18 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 692.17 Td (Equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.65 692.17 Td (42,426) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.65 692.17 Td (35,843) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.65 692.17 Td (35,489) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 677.17 Td (Fixed Income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.65 677.17 Td (14,632) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.65 677.17 Td (14,524) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.65 677.17 Td (13,064) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 662.17 Td (Multi-Strategy Investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.65 662.17 Td (13,860) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.65 662.17 Td (11,244) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.65 662.17 Td (9,372) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 647.18 Td (Total Mutual Funds AUM, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 390.50 647.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.65 647.18 Td (70,918) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.50 647.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.65 647.18 Td (61,611) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.50 647.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 542.65 647.18 Td (57,925) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 631.95 Td (RETURN ON ASSETS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 617.18 Td (ROA) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.65 617.18 Td (8.2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.65 617.18 Td (8.2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 552.65 617.18 Td (10.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 602.17 Td (Effect of restructuring, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.30 602.22 Td (\(0.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 602.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.30 602.22 Td (\(0.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 602.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 602.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 587.17 Td (Effect of net realized gains, net of tax and DAC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.30 587.22 Td (\(0.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 587.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 587.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 587.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 572.18 Td (ROA, core earnings) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.65 572.18 Td (8.5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.65 572.18 Td (8.5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 552.65 572.18 Td (10.5) Tj ET Q BT /F2 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 544.00 Td (2014 ) Tj ET Q q 0 0 0 rg BT 54.00 544.00 Td (Outlook) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 526.00 Td (The primary objective of Mutual Funds is to increase earnings by growing total assets under management. ) Tj ET Q q 0 0 0 rg BT 458.34 526.00 Td (Assuming normal market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 514.00 Td (conditions, the Company expects 2014 earnings growth of approximately 10%, driven by improved earnings in retail and retirement ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 502.00 Td (mutual funds, partially of) Tj ET Q q 0 0 0 rg BT 132.96 502.00 Td (fset by the runof) Tj ET Q q 0 0 0 rg BT 198.60 502.00 Td (f of the mutual funds supporting the Company's variable annuity products. Fund performance, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 490.00 Td (fluctuations in the financial markets, developing and maintaining client relationships and net flows are all factors that influence assets ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 478.00 Td (under management. ) Tj ET Q q 0 0 0 rg BT 112.68 478.00 Td (The relationship with ) Tj ET Q q 0 0 0 rg BT 200.53 478.00 Td (W) Tj ET Q q 0 0 0 rg BT 209.17 478.00 Td (ellington Management, our primary sub-advisor) Tj ET Q q 0 0 0 rg BT 400.67 478.00 Td (, provides retail and retirement clients with a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 466.00 Td (diversified lineup of domestic and international equity) Tj ET Q q 0 0 0 rg BT 248.01 466.00 Td (, fixed income and asset allocation funds. ) Tj ET Q q 0 0 0 rg BT 415.84 466.00 Td (These products, combined with our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 454.00 Td (strong long-term fund performance and expanded key client relationships are important in order to drive improved net flows and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 442.00 Td (earnings going forward. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 418.00 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 418.00 Td (ear ) Tj ET Q q 0 0 0 rg BT 52.33 418.00 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 418.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.41 418.00 Td (2013) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 418.00 Td ( ) Tj ET Q q 0 0 0 rg BT 160.91 418.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.96 418.00 Td (to ) Tj ET Q q 0 0 0 rg BT 214.24 418.00 Td (the ) Tj ET Q q 0 0 0 rg BT 229.52 418.00 Td (year ) Tj ET Q q 0 0 0 rg BT 249.79 418.00 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 418.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.87 418.00 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.87 418.00 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.00 Td (Net income, as compared to the prior year period, increased in 2013 primarily due to higher fee income driven by higher average ) Tj ET Q q 0 0 0 rg BT 549.09 401.00 Td (AUM ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.00 Td (partially of) Tj ET Q q 0 0 0 rg BT 75.47 389.00 Td (fset by increased variable expenses. ) Tj ET Q q 0 0 0 rg BT 223.28 389.00 Td (The increase in net income was driven by growth in the retail and defined contribution ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.00 Td (mutual funds business, while earnings growth from the annuity mutual funds runof) Tj ET Q q 0 0 0 rg BT 362.94 377.00 Td (f business was flat. ) Tj ET Q q 0 0 0 rg BT 443.48 377.00 Td (AUM increased reflecting strong ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.00 Td (sales growth and the solid performance of the Company's funds throughout the year) Tj ET Q q 0 0 0 rg BT 366.15 365.00 Td (, lar) Tj ET Q q 0 0 0 rg BT 381.52 365.00 Td (gely of) Tj ET Q q 0 0 0 rg BT 409.39 365.00 Td (fset by negative net flows including ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.00 Td (outflows in mutual funds supporting the Company's variable annuity products. Redemptions in 2013 included a portfolio rebalance at a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.00 Td (key distributor and an institutional redemption, together totaling $2.5 billion. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 323.00 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 323.00 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 323.00 Td (December31, 2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 323.00 Td ( compared to the year ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 323.00 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 350.32 323.00 Td (1) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.32 323.00 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 306.00 Td (Net income, as compared to the prior year period, decreased in 2012 primarily due to lower fee income and other driven by lower ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 294.00 Td (average ) Tj ET Q q 0 0 0 rg BT 64.53 294.00 Td (AUM and higher distribution and marketing expenses. ) Tj ET Q q 0 0 0 rg BT 284.49 294.00 Td (AUM increased modestly reflecting the improving performance of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 282.00 Td (Company's mutual funds in the equity markets lar) Tj ET Q q 0 0 0 rg BT 230.59 282.00 Td (gely of) Tj ET Q q 0 0 0 rg BT 258.45 282.00 Td (fset by negative net flows primarily in mutual funds supporting the Company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 270.00 Td (variable annuity products. Retail net outflows decreased in 2012 compared to 201) Tj ET Q q 0 0 0 rg BT 358.26 270.00 Td (1 as redemption rates continued to trend lower ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 258.00 Td (compared to 201) Tj ET Q q 0 0 0 rg BT 98.33 258.00 Td (1, although new business sales activity decreased in 2012 compared to 201) Tj ET Q q 0 0 0 rg BT 397.33 258.00 Td (1. ) Tj ET Q q 0 0 0 rg BT 407.15 258.00 Td (T) Tj ET Q q 0 0 0 rg BT 412.56 258.00 Td (otal ) Tj ET Q q 0 0 0 rg BT 429.50 258.00 Td (AUM is expected to be impacted by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 246.00 Td (a planned redemption of approximately $1.5 billion in the second quarter of 2013.) Tj ET Q endstream endobj 169 0 obj <> endobj 170 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (84) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 742.25 Td (T) Tj ET Q q 0 0 0 rg BT 37.43 742.25 Td (ALCOTT) Tj ET Q q 0 0 0 rg BT 79.48 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 81.98 742.25 Td (RESOLUTION) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 724.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 64.01 724.25 Td (of ) Tj ET Q q 0 0 0 rg BT 74.84 724.25 Td (Operations) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 692.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 692.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 692.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 692.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 662.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 662.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 662.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 662.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 632.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 632.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 632.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 632.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 602.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 602.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 602.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 602.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 572.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 572.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 572.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 572.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 532.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 532.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 532.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 532.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 502.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 502.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 502.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 502.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 472.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 472.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 472.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 472.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 442.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 442.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 442.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 442.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 412.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 412.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 412.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 412.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 382.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 382.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 382.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 382.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 352.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 352.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 352.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 352.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 322.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 322.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 322.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 322.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 292.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 292.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 292.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 292.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 262.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 262.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 262.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 262.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 232.75 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 232.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 232.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 232.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 692.75 m 386 692.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 692.75 m 451 692.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 692.75 m 516 692.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 692.75 m 581 692.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 617.75 m 386 617.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 617.75 m 451 617.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 617.75 m 516 617.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 617.75 m 581 617.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 587.75 m 386 587.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 587.75 m 451 587.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 587.75 m 516 587.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 587.75 m 581 587.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 487.75 m 451 487.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 487.75 m 516 487.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 487.75 m 581 487.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 487.75 m 386 487.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 487.75 m 451 487.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 487.75 m 516 487.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 487.75 m 581 487.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 442.75 m 386 442.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 442.75 m 451 442.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 442.75 m 516 442.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 442.75 m 581 442.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 412.75 m 386 412.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 412.75 m 451 412.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 412.75 m 516 412.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 412.75 m 581 412.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 397.75 m 386 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 397.75 m 451 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 397.75 m 516 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 397.75 m 581 397.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 307.75 m 386 307.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 307.75 m 451 307.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 307.75 m 516 307.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 307.75 m 581 307.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 232.75 m 386 232.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 232.75 m 451 232.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 232.75 m 516 232.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 232.75 m 581 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 217.75 m 386 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 217.75 m 451 217.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 217.75 m 516 217.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 232.75 m 581 232.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 217.75 m 581 217.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 697.43 Td (Operating Summary) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.00 697.43 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.00 697.43 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 538.25 697.43 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 682.42 Td (Earned premiums [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.50 682.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 682.42 Td (89) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.50 682.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.80 682.47 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 682.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 682.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 682.42 Td (129) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 667.42 Td (Fee income and other [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.65 667.42 Td (2,059) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.65 667.42 Td (3,558) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 667.42 Td (3,780) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 652.42 Td (Net investment income \(loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 637.42 Td (Securities available-for-sale and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.65 637.42 Td (1,675) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.65 637.42 Td (2,562) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 637.42 Td (2,584) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 622.42 Td (Equity securities trading [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.65 622.42 Td (6,061) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.65 622.42 Td (4,364) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.30 622.42 Td (\(1,345) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 622.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 37.50 607.42 Td (Total net investment income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.65 607.42 Td (7,736) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.65 607.42 Td (6,926) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 607.42 Td (1,239) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 592.42 Td (Net realized capital gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.15 592.42 Td (428) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.30 592.47 Td (\(1,005) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 592.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 592.42 Td (\(66) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 592.42 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 37.50 577.43 Td (Total revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.65 577.43 Td (10,312) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 489.65 577.43 Td (9,469) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 577.43 Td (5,082) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 562.42 Td (Benefits, losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.65 562.42 Td (1,617) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.65 562.42 Td (2,949) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 562.42 Td (3,537) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 547.42 Td (Benefits, losses and loss adjustment expenses returns credited on international) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 537.42 Td (variable annuities [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.65 537.42 Td (6,060) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.65 537.42 Td (4,363) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.30 537.42 Td (\(1,345) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 537.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 522.42 Td (Amortization of deferred policy acquisition costs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.65 522.42 Td (1,392) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 522.42 Td (661) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 522.42 Td (1,108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 507.42 Td (Insurance operating costs and other expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.15 507.42 Td (739) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.65 507.42 Td (1,418) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 507.42 Td (1,463) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 492.42 Td (Reinsurance loss on disposition, including goodwill impairment of $224) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.65 492.42 Td (1,505) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 492.42 Td (415) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 492.42 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 37.50 477.43 Td (Total benefits, losses and expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.65 477.43 Td (11,313) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 489.65 477.43 Td (9,806) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 477.43 Td (4,763) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 37.50 462.43 Td (Income\(loss\) from continuing operations, before income taxes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.30 462.48 Td (\(1,001) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.15 462.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.80 462.48 Td (\(337) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.15 462.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 462.43 Td (319) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 447.42 Td (Income tax benefit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.80 447.47 Td (\(500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 447.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.80 447.47 Td (\(271) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 447.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 447.42 Td (\(168) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 447.42 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 37.50 432.43 Td (Income \(loss\) from continuing operations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 428.80 432.48 Td (\(501) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.15 432.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.80 432.48 Td (\(66) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.15 432.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 432.43 Td (487) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 417.42 Td (Income \(loss\) from discontinued operations, net of tax [3]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 428.80 417.48 Td (\(133) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.15 417.43 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 417.42 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 417.42 Td (53) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 39.00 402.43 Td (Net income \(loss\) [6]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 388.50 402.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 428.80 402.48 Td (\(634) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.15 402.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 453.50 402.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.15 402.43 Td (1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 518.50 402.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 402.43 Td (540) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 387.43 Td (Assets Under Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 372.42 Td (Variable annuity account value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.50 372.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 372.42 Td (81,942) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.50 372.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 372.42 Td (94,371) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 372.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 372.42 Td (99,922) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 357.42 Td (Fixed Market Value Adjusted annuity and other account value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 357.42 Td (13,203) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 357.42 Td (14,755) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 357.42 Td (16,417) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 342.42 Td (Institutional annuity account value [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 342.42 Td (16,857) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 342.42 Td (17,744) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 342.42 Td (19,330) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 327.42 Td (Other account value [5]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.65 327.42 Td (108,133) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 327.42 Td (102,429) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.65 327.42 Td (100,937) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 312.43 Td (Total account value [4]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 388.50 312.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.65 312.43 Td (219,127) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 453.50 312.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.65 312.43 Td (228,143) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 518.50 312.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.65 312.43 Td (235,310) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 297.43 Td (Variable Annuities - Account Value Roll Forward) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.50 297.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 297.42 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 282.43 Td (Account value, beginning of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 388.50 282.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.65 282.43 Td (94,371) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 453.50 282.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 484.65 282.43 Td (99,922) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 518.50 282.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.65 282.43 Td (116,520) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 267.42 Td (Net flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.30 267.47 Td (\(22,740) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 267.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.30 267.47 Td (\(13,594) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 267.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.30 267.42 Td (\(13,400) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 267.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 252.42 Td (Change in market value and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 252.42 Td (15,230) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 252.42 Td (11,303) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.30 252.42 Td (\(4,831) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 252.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 237.42 Td (Effect of currency translation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.30 237.47 Td (\(4,919) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 237.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.30 237.47 Td (\(3,260) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 237.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 237.42 Td (1,633) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 33.00 222.43 Td (Account value, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 388.50 222.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.65 222.43 Td (81,942) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 453.50 222.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 484.65 222.43 Td (94,371) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 518.50 222.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.65 222.43 Td (99,922) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 207.45 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 207.45 Td (Includes earned pr) Tj ET Q q 0 0 0 rg BT 117.15 207.45 Td (emiums, fee income and other r) Tj ET Q q 0 0 0 rg BT 230.29 207.45 Td (elated to the Retir) Tj ET Q q 0 0 0 rg BT 294.69 207.45 Td (ement Plans business of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 383.18 207.45 Td ($38) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 396.68 207.45 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 401.18 207.45 Td ($368) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 419.18 207.45 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 437.18 207.45 Td ($380) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 455.18 207.45 Td ( and the Individual Life ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 196.65 Td (business of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 91.50 196.65 Td ($2) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 100.50 196.65 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 105.00 196.65 Td ($866) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 123.00 196.65 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 141.00 196.65 Td ($899) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 159.00 196.65 Td (, for the years ended December 31, 2013, 2012 and 201) Tj ET Q q 0 0 0 rg BT 359.05 196.65 Td (1, r) Tj ET Q q 0 0 0 rg BT 371.21 196.65 Td (espectively) Tj ET Q q 0 0 0 rg BT 410.19 196.65 Td (. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 185.85 Td ([2] ) Tj ET Q q 0 0 0 rg BT 49.50 185.85 Td (Includes investment income and mark-to-market effects of equity securities, trading, supporting the international variable annuity business, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 175.05 Td (which ar) Tj ET Q q 0 0 0 rg BT 80.92 175.05 Td (e classified in net investment income with corr) Tj ET Q q 0 0 0 rg BT 247.80 175.05 Td (esponding amounts cr) Tj ET Q q 0 0 0 rg BT 326.96 175.05 Td (edited to policyholders within benefits, losses and loss ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 164.25 Td (adjustment expenses. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 153.45 Td ([3] ) Tj ET Q q 0 0 0 rg BT 49.50 153.45 Td (Repr) Tj ET Q q 0 0 0 rg BT 66.66 153.45 Td (esents the loss fr) Tj ET Q q 0 0 0 rg BT 126.07 153.45 Td (om operations and sale of Hartfor) Tj ET Q q 0 0 0 rg BT 248.99 153.45 Td (d Life International Limited \("HLIL"\). For additional information, see Note ) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.05 153.45 Td (20) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 533.05 153.45 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 142.65 Td (Discontinued Operations of Notes to Consolidated Financial Statements.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 131.85 Td ([4] ) Tj ET Q q 0 0 0 rg BT 49.50 131.85 Td (Included in the balance is appr) Tj ET Q q 0 0 0 rg BT 161.39 131.85 Td (oximately ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 198.63 131.85 Td ($\(1.0\) billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 246.12 131.85 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 250.62 131.85 Td ($\(1.2\) billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 298.12 131.85 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 316.12 131.85 Td ($\(1.3\) billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 363.62 131.85 Td ( for the years ended December 31, 2013, 2012 and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 121.05 Td (201) Tj ET Q q 0 0 0 rg BT 62.33 121.05 Td (1, r) Tj ET Q q 0 0 0 rg BT 74.50 121.05 Td (espectively) Tj ET Q q 0 0 0 rg BT 113.48 121.05 Td (, r) Tj ET Q q 0 0 0 rg BT 121.14 121.05 Td (elated to a T) Tj ET Q q 0 0 0 rg BT 165.56 121.05 Td (alcott Resolution intra-segment funding agr) Tj ET Q q 0 0 0 rg BT 323.22 121.05 Td (eement which is eliminated in consolidation.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 110.25 Td ([5] ) Tj ET Q q 0 0 0 rg BT 49.50 110.25 Td (Other account value includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 157.47 110.25 Td ($54.7 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 203.47 110.25 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 207.97 110.25 Td ($14.7 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 253.97 110.25 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 274.22 110.25 Td ($38.7 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 320.23 110.25 Td ( as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 341.98 110.25 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 412.71 110.25 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 432.96 110.25 Td ($51.8 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 478.96 110.25 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 483.46 110.25 Td ($13.2 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 529.46 110.25 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 99.45 Td ($37.4 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 95.50 99.45 Td ( as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 117.25 99.45 Td (December31, 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 187.98 99.45 Td (, for the Retir) Tj ET Q q 0 0 0 rg BT 236.14 99.45 Td (ement Plans, Individual Life, and Private Placement Life Insurance businesses; ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 88.65 Td (r) Tj ET Q q 0 0 0 rg BT 52.67 88.65 Td (espectively) Tj ET Q q 0 0 0 rg BT 91.64 88.65 Td (. ) Tj ET Q q 0 0 0 rg BT 98.23 88.65 Td (Account) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 127.72 88.65 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 129.97 88.65 Td (values) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 152.96 88.65 Td ( a) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 159.21 88.65 Td (ssociated with the Retir) Tj ET Q q 0 0 0 rg BT 243.61 88.65 Td (ement Plans, and Individual Life businesses no longer generate asset-based fee income ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 77.85 Td (due to the sales of these businesses.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 67.05 Td ([6] ) Tj ET Q q 0 0 0 rg BT 49.50 67.05 Td (Includes net losses of $39 and $172, r) Tj ET Q q 0 0 0 rg BT 185.66 67.05 Td (espectively) Tj ET Q q 0 0 0 rg BT 224.63 67.05 Td (, for the year ended December 31, 2012 and net income of $3 and $1) Tj ET Q q 0 0 0 rg BT 471.91 67.05 Td (14, r) Tj ET Q q 0 0 0 rg BT 488.58 67.05 Td (espectively) Tj ET Q q 0 0 0 rg BT 527.55 67.05 Td (, for the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 56.25 Td (year ended December 31, 201) Tj ET Q q 0 0 0 rg BT 157.04 56.25 Td (1 r) Tj ET Q q 0 0 0 rg BT 166.96 56.25 Td (elated to the Retir) Tj ET Q q 0 0 0 rg BT 231.36 56.25 Td (ement Plans and Individual Life businesses sold in 2013, see Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 473.59 56.25 Td (2) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 478.09 56.25 Td ( - ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 485.58 56.25 Td (Business ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 45.45 Td (Dispositions) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 94.51 45.45 Td ( of Notes to Consolidated Financial Statements) Tj ET Q endstream endobj 171 0 obj <> endobj 172 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (85) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 742.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 54.00 742.25 Td (Outlook) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 724.25 Td (The principal goal for ) Tj ET Q q 0 0 0 rg BT 121.29 724.25 Td (T) Tj ET Q q 0 0 0 rg BT 126.70 724.25 Td (alcott Resolution is to reduce the size and risk associated with the Company's U.S. and international in-force ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 712.25 Td (variable annuities. ) Tj ET Q q 0 0 0 rg BT 109.25 712.25 Td (As a result, the Company expects account values and consequently earnings to decline due to surrenders, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 700.25 Td (policyholder initiatives or transactions with third parties that will reduce the size of this legacy book of business. Risk-reducing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 688.25 Td (transactions may also cause a reduction in statutory capital and shareholders) Tj ET Q q 0 0 0 rg BT 338.99 688.25 Td ( equity) Tj ET Q q 0 0 0 rg BT 365.83 688.25 Td (. ) Tj ET Q q 0 0 0 rg BT 373.15 688.25 Td (The Company's international variable annuity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 676.25 Td (business will also continue to be a significant driver of earnings variability due to hedge programs which generate mark to market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 664.25 Td (gains and losses while the underlying international liabilities being hedged are not marked to market. ) Tj ET Q q 0 0 0 rg BT 437.88 664.25 Td (This can result in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 652.25 Td (unpredictable earnings volatility period to period.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 634.25 Td (As the Company's annuity book continues to run of) Tj ET Q q 0 0 0 rg BT 236.99 634.25 Td (f, earnings will continue to decline. ) Tj ET Q q 0 0 0 rg BT 382.78 634.25 Td (A) Tj ET Q q 0 0 0 rg BT 389.45 634.25 Td ( key driver to the decline in earnings will ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 622.25 Td (be the pace at which customers surrender their contracts. In 2013, the Company experienced increased variable annuities surrender ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 610.25 Td (rates driven by strong market appreciation, continued aging of the block and in-force management initiatives. ) Tj ET Q q 0 0 0 rg BT 473.95 610.25 Td (The increase in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 598.25 Td (surrender rates was especially evident in Japan where full surrender rates increased from 3.4% in 2012 to 28.8% in 2013. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 586.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 81.40 586.25 Td (, contract counts decreased 14% and 26% for U.S. and Japan variable annuities, respectively) Tj ET Q q 0 0 0 rg BT 450.34 586.25 Td (, in 2013. Looking ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 574.25 Td (forward, the Company expects this trend will continue in 2014. ) Tj ET Q q 0 0 0 rg BT 289.32 574.25 Td (The decline in policy counts will likely result in unit cost increases ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 562.25 Td (and mar) Tj ET Q q 0 0 0 rg BT 63.80 562.25 Td (gin compression because expenses will not reduce at the same pace as the annuity block, further contributing to a decline in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 550.25 Td (earnings over time.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 520.25 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 520.25 Td (ear ) Tj ET Q q 0 0 0 rg BT 52.33 520.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 520.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.41 520.25 Td (2013) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 520.25 Td ( ) Tj ET Q q 0 0 0 rg BT 160.91 520.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.96 520.25 Td (to ) Tj ET Q q 0 0 0 rg BT 214.24 520.25 Td (the ) Tj ET Q q 0 0 0 rg BT 229.52 520.25 Td (year ) Tj ET Q q 0 0 0 rg BT 249.79 520.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 520.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.87 520.25 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.87 520.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (The net loss for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 111.20 503.25 Td (year ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.79 503.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 157.29 503.25 Td ( December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.37 503.25 Td ( was primarily driven by Unlock char) Tj ET Q q 0 0 0 rg BT 388.15 503.25 Td (ges of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.81 503.25 Td ($806) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.81 503.25 Td (, before tax, during the current ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (year period compared to an Unlock benefit of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.43 491.25 Td ($47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.43 491.25 Td (, before tax, in the prior year period. ) Tj ET Q q 0 0 0 rg BT 378.69 491.25 Td (The Unlock char) Tj ET Q q 0 0 0 rg BT 445.70 491.25 Td (ge for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.60 491.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.10 491.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (includes a char) Tj ET Q q 0 0 0 rg BT 91.29 479.25 Td (ge of $887, before tax, for hedge cost assumption changes associated with expanding the Japan variable annuity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.25 Td (hedging program in the first quarter of 2013. In addition, variable annuity hedge program losses for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.67 467.25 Td (year ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.25 467.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.75 467.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.25 467.25 Td ( were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.25 Td ($1,558) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 455.25 Td (, before tax, including international losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.79 455.25 Td ($1,586) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.29 455.25 Td (, compared to losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.71 455.25 Td ($1,288) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.21 455.25 Td ( before tax, including international losses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 42.33 443.25 Td ($1,467) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 69.83 443.25 Td (, for the prior year period. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (Lower fee income in 2013 due to the continued runof) Tj ET Q q 0 0 0 rg BT 244.86 425.25 Td (f of the variable annuity business, as well as costs associated with an enhanced ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (surrender value program in the U.S., also contributed to the net loss for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.37 413.25 Td (year ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.95 413.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.45 413.25 Td ( December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.54 413.25 Td (. In addition, 2012 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (results of operations reflect the reinsurance loss on disposition related to the disposition of the Individual Life business, and losses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (in 2012 from the operations of the Retirement Plans and Individual Life businesses sold in 2013.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.25 Td (For further discussion of investment results and the results of the variable annuity hedge program, see MD&A) Tj ET Q q 0 0 0 rg BT 471.68 371.25 Td ( Investment Results, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.25 Td (Net Investment Income \(Loss\) and Net Realized Capital Gains \(Losses\). For further discussion of Unlocks, see MD&A) Tj ET Q q 0 0 0 rg BT 508.62 359.25 Td ( - Critical ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (Accounting Estimates, Estimated Gross Profits Used in the ) Tj ET Q q 0 0 0 rg BT 269.90 347.25 Td (V) Tj ET Q q 0 0 0 rg BT 276.01 347.25 Td (aluation and ) Tj ET Q q 0 0 0 rg BT 327.11 347.25 Td (Amortization of ) Tj ET Q q 0 0 0 rg BT 393.21 347.25 Td (Assets and Liabilities ) Tj ET Q q 0 0 0 rg BT 481.26 347.25 Td (Associated with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (V) Tj ET Q q 0 0 0 rg BT 37.61 335.25 Td (ariable ) Tj ET Q q 0 0 0 rg BT 66.76 335.25 Td (Annuity and Other Universal Life-T) Tj ET Q q 0 0 0 rg BT 211.02 335.25 Td (ype Contracts.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.25 Td (The 2013 and 2012 ef) Tj ET Q q 0 0 0 rg BT 119.07 317.25 Td (fective tax rates dif) Tj ET Q q 0 0 0 rg BT 195.80 317.25 Td (fer from the U.S. Federal statutory rate of 35% primarily due to permanent dif) Tj ET Q q 0 0 0 rg BT 508.02 317.25 Td (ferences ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.25 Td (related to investments in separate account DRD. For further discussion of income taxes, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.78 305.25 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.78 305.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.11 305.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 473.41 305.25 Td (T) Tj ET Q q 0 0 0 rg BT 478.82 305.25 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.59 305.25 Td ( of Notes to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.25 Td (Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (Account value decreased to approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.48 275.25 Td ($219 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.10 275.25 Td ( at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.31 275.25 Td ( December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.40 275.25 Td ( from approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.09 275.25 Td ($228 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.71 275.25 Td ( at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.92 275.25 Td ( December 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 263.25 Td ( due primarily to increased net outflows and negative currency translation impacts, partially of) Tj ET Q q 0 0 0 rg BT 431.47 263.25 Td (fset by market value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.25 Td (appreciation in variable annuities. In addition, the net decrease in account value reflects the disposition of $1.8 billion of variable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.25 Td (annuities related to the sold U.K. business. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 215.64 239.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.14 239.25 Td ( variable annuity net outflows increased by approximately $9.1 billion as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.25 Td (compared to the prior year period driven by increased net outflows in the Japan variable annuities as a result of market appreciation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (and the expiration of the surrender char) Tj ET Q q 0 0 0 rg BT 189.03 215.25 Td (ge period as the block of business ages.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.25 Td (The annualized full surrender rate on U.S. variable annuities rose to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.02 197.25 Td (16.7%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.85 197.25 Td ( for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.31 197.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.89 197.25 Td ( compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.25 Td (1) Tj ET Q q 0 0 0 rg BT 36.13 185.25 Td (1.1%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.96 185.25 Td ( for the prior year period. ) Tj ET Q q 0 0 0 rg BT 162.85 185.25 Td (The annualized full surrender rate on Japan variable annuities rose to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.35 185.25 Td (28.8%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.18 185.25 Td ( for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 173.25 Td ( compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.79 173.25 Td (3.4%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.62 173.25 Td ( for the prior year period. Surrender activity in Japan has increased significantly over the past ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.25 Td (nine months as market appreciation has resulted in an increased number of account values exceeding guaranteed amounts. ) Tj ET Q endstream endobj 173 0 obj <> endobj 174 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 31.60 Td (86) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 742.25 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 742.25 Td (ear ) Tj ET Q q 0 0 0 rg BT 52.33 742.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 742.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.41 742.25 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 742.25 Td ( ) Tj ET Q q 0 0 0 rg BT 160.91 742.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.96 742.25 Td (to ) Tj ET Q q 0 0 0 rg BT 214.24 742.25 Td (the ) Tj ET Q q 0 0 0 rg BT 229.52 742.25 Td (year ) Tj ET Q q 0 0 0 rg BT 249.79 742.25 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 742.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.87 742.25 Td (201) Tj ET Q q 0 0 0 rg BT 350.32 742.25 Td (1) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.32 742.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 725.25 Td (Net income \(loss\), as compared to the prior year period, decreased for the year ended December 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.99 725.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.99 725.25 Td ( primarily due to net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (realized capital losses as compared to net realized capital gains in the prior period and the estimated reinsurance loss on disposition ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.25 Td (of the Individual Life business, including an after tax goodwill impairment char) Tj ET Q q 0 0 0 rg BT 350.12 701.25 Td (ge of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.89 701.25 Td ($146.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.39 701.25 Td ( For related discussion of the goodwill ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.25 Td (impairment, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 119.81 689.25 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 124.81 689.25 Td ( - Goodwill and Other Intangible ) Tj ET Q q 0 0 0 rg BT 258.11 689.25 Td (Assets of Notes to Consolidated Financial Statements. Restructuring costs ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 42.33 677.25 Td ($44,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.83 677.25 Td ( after) Tj ET Q q 0 0 0 rg BT 80.45 677.25 Td (-tax in 2012 also contributed to the decrease in net income as compared to the prior year period as there were no ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (restructuring costs in 201) Tj ET Q q 0 0 0 rg BT 132.50 665.25 Td (1. ) Tj ET Q q 0 0 0 rg BT 144.45 665.25 Td (An Unlock benefit in 2012 partially of) Tj ET Q q 0 0 0 rg BT 298.12 665.25 Td (fset the decrease in net income as compared to the prior year ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (period. In addition, benefits, losses and loss adjustment expenses, decreased as compared to the prior year period, reflecting an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (improvement in equity market performance. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (The net increase in realized capital losses was primarily due to losses in the variable annuity hedge program. ) Tj ET Q q 0 0 0 rg BT 468.12 623.25 Td (V) Tj ET Q q 0 0 0 rg BT 474.23 623.25 Td (ariable annuity hedge ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (program losses for the year ended December 31, 2012 were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.24 611.25 Td ($1,288) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.74 611.25 Td ( including international losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.77 611.25 Td ($1,467) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.27 611.25 Td (, compared to gains of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td ($78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 599.25 Td (, including international gains of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.25 599.25 Td ($691) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.25 599.25 Td ( for the prior year period. Net realized capital losses in 2012 also include intent-to-sell ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (impairment losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 117.32 587.25 Td ($177) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 137.32 587.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.57 587.25 Td (related to the sales in January 2013 of the Retirement Plans and Individual Life businesses. ) Tj ET Q q 0 0 0 rg BT 505.97 587.25 Td (T) Tj ET Q q 0 0 0 rg BT 511.38 587.25 Td (otal net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (impairment losses, including intent-to-sell impairment losses, increased to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.88 575.25 Td ($247) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.88 575.25 Td ( in 2012 as compared to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.20 575.25 Td ($1) Tj ET Q q 0 0 0 rg BT 458.82 575.25 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.82 575.25 Td ( for the prior year ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (period. For further discussion of investment results and the results of the variable annuity hedge program, see MD&A) Tj ET Q q 0 0 0 rg BT 502.23 563.25 Td ( Investment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (Results, Net Investment Income \(Loss\) and Net Realized Capital Gains \(Losses\) within Consolidated Results of Operations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (Account value decreased to approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.48 533.25 Td ($228) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.48 533.25 Td ( billion at December31, 2012 from approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.59 533.25 Td ($235) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.59 533.25 Td ( billion at December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (201) Tj ET Q q 0 0 0 rg BT 46.13 521.25 Td (1, due primarily to surrenders of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.30 521.25 Td ($10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.30 521.25 Td ( billion in 2012 in the U.S. variable annuity block, lar) Tj ET Q q 0 0 0 rg BT 467.25 521.25 Td (gely of) Tj ET Q q 0 0 0 rg BT 495.11 521.25 Td (fset by the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (impact of improved equity market performance.) Tj ET Q endstream endobj 175 0 obj <> endobj 176 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (87) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (CORPORA) Tj ET Q q 0 0 0 rg BT 81.31 713.25 Td (TE) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 696.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 64.01 696.25 Td (of ) Tj ET Q q 0 0 0 rg BT 74.84 696.25 Td (Operations) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 666.75 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 666.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 666.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.00 666.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 638.75 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 638.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 638.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.00 638.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 610.75 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 610.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 610.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.00 610.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 583.75 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 583.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 583.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.00 583.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 555.75 379.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 555.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 555.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.00 555.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 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rg BT 34.50 671.43 Td (Operating Summary) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 428.50 671.43 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 484.50 671.43 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 540.75 671.43 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 657.32 Td (Earned premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.50 657.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 657.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.50 657.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.15 657.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.50 657.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.15 657.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 643.32 Td (Fee income [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 643.32 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 643.32 Td (167) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 643.32 Td (209) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 629.32 Td (Net investment income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 629.32 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.15 629.32 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.15 629.32 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 615.32 Td (Net realized capital gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.80 615.37 Td (\(89) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.15 615.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 615.32 Td (125) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.80 615.32 Td (\(96) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 615.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 601.32 Td (Other revenue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.15 601.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 601.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.15 601.32 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 587.48 Td (Total revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 449.80 587.53 Td (\(50) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.15 587.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.15 587.48 Td (324) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 560.15 587.48 Td (136) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 574.32 Td (Benefits, losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 574.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.15 574.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.80 574.32 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 574.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 560.32 Td (Insurance operating costs and other expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 560.32 Td (78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 560.32 Td (365) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 560.32 Td (202) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 546.32 Td (Loss on extinguishment of debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.15 546.32 Td (213) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 546.32 Td (910) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.15 546.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 532.32 Td (Reinsurance loss on disposition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 532.32 Td (69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 532.32 Td (118) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.15 532.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 518.32 Td (Interest expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.15 518.32 Td (397) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 518.32 Td (457) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 518.32 Td (508) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 504.48 Td (Total benefits, losses and expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.15 504.48 Td (757) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 496.65 504.48 Td (1,850) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 560.15 504.48 Td (707) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 489.43 Td (Loss from continuing operations before income taxes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 444.80 489.48 Td (\(807) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.15 489.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.30 489.48 Td (\(1,526) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.15 489.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 556.80 489.43 Td (\(571) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 575.15 489.43 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 475.32 Td (Income tax benefit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.80 475.37 Td (\(252) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.15 475.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.80 475.37 Td (\(517) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 475.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 475.32 Td (\(201) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 475.32 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 461.48 Td (Loss from continuing operations, net of tax) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 444.80 461.53 Td (\(555) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.15 461.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.30 461.53 Td (\(1,009) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.15 461.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 556.80 461.48 Td (\(370) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 575.15 461.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 448.32 Td (Loss from discontinued operations, net of tax [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 448.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.15 448.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.80 448.32 Td (\(64) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 448.32 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 434.48 Td (Net loss) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.50 434.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 444.80 434.53 Td (\(555) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.15 434.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.50 434.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.30 434.53 Td (\(1,009) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.15 434.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 525.50 434.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 556.80 434.48 Td (\(434) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 575.15 434.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 415.45 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 415.45 Td (Fee income includes the income associated with the sales of non-pr) Tj ET Q q 0 0 0 rg BT 296.61 415.45 Td (oprietary insurance pr) Tj ET Q q 0 0 0 rg BT 377.77 415.45 Td (oducts in the Company) Tj ET Q q 0 0 0 rg BT 462.35 415.45 Td (s br) Tj ET Q q 0 0 0 rg BT 475.77 415.45 Td (oker) Tj ET Q q 0 0 0 rg BT 491.58 415.45 Td (-dealer subsidiaries that ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 404.65 Td (has an offsetting commission expense in insurance operating costs and other expenses.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 393.85 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 393.85 Td (Repr) Tj ET Q q 0 0 0 rg BT 71.16 393.85 Td (esents the loss fr) Tj ET Q q 0 0 0 rg BT 130.57 393.85 Td (om operations and sale of Federal T) Tj ET Q q 0 0 0 rg BT 261.57 393.85 Td (rust Corporation. For additional information, see Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 462.33 393.85 Td (20) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 471.33 393.85 Td ( Discontinued Operations of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 383.05 Td (Notes to Consolidated Financial Statements.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 365.05 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 365.05 Td (ear ) Tj ET Q q 0 0 0 rg BT 52.33 365.05 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 365.05 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.41 365.05 Td (2013) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 365.05 Td ( ) Tj ET Q q 0 0 0 rg BT 160.91 365.05 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.96 365.05 Td (to ) Tj ET Q q 0 0 0 rg BT 214.24 365.05 Td (the ) Tj ET Q q 0 0 0 rg BT 229.52 365.05 Td (year ) Tj ET Q q 0 0 0 rg BT 249.79 365.05 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 365.05 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.87 365.05 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.87 365.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 349.05 Td (Net loss, as compared to the prior year period, decreased in 2013 primarily due to decreases in insurance operating costs and other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 337.05 Td (expenses, the reinsurance loss on disposition, the loss on extinguishment of debt and interest expense. ) Tj ET Q q 0 0 0 rg BT 441.24 337.05 Td (The net loss in 2013 was partially ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 325.05 Td (driven by net realized capital losses due to higher long-term interest rates and global credit hedging losses due to increases in the equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 313.05 Td (market as compared with net realized capital gains in 2012. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 295.05 Td (Insurance operating costs and other expenses decreased due to a benefit of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.38 295.05 Td ($57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.38 295.05 Td (, before tax, for an insurance recovery from the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 283.05 Td (Company's insurers for past legal expenses associated with closed litigation and a benefit of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.54 283.05 Td ($19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.54 283.05 Td (, before tax, from the resolution of items ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 271.05 Td (under the Company's spin-of) Tj ET Q q 0 0 0 rg BT 146.71 271.05 Td (f agreement with its former parent company) Tj ET Q q 0 0 0 rg BT 322.11 271.05 Td (. Restructuring costs, included in Corporate insurance operating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 259.05 Td (costs and other expenses and related to the implementation of certain strategic initiatives, decreased to $64 in 2013 from $121 in 2012. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 241.05 Td (The reinsurance loss on disposition of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.92 241.05 Td ($69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.92 241.05 Td ( in 2013 consisted of the write-of) Tj ET Q q 0 0 0 rg BT 333.49 241.05 Td (f of all of the goodwill held in Corporate allocated to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 229.05 Td (Retirement Plans business sold in 2013. ) Tj ET Q q 0 0 0 rg BT 193.26 229.05 Td (The reinsurance loss on disposition of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.68 229.05 Td ($1) Tj ET Q q 0 0 0 rg BT 357.31 229.05 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.31 229.05 Td ( in 2012 consisted of an impairment of goodwill ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 217.05 Td (related to the Individual Life business sold in 2013. For additional information regarding goodwill, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.97 217.05 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.97 217.05 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.30 217.05 Td (Goodwill) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.08 217.05 Td ( of Notes to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 205.05 Td (Consolidated Financial Statements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 187.05 Td (In 2013, the Company repurchased approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.50 187.05 Td ($800) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.50 187.05 Td ( of senior notes at a premium to the face amount of the then outstanding debt. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 175.05 Td (2012, the Company repurchased all outstanding 10% fixed-to-floating rate junior subordinated debentures due 2068 with a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.99 175.05 Td ($1.75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.49 175.05 Td ( billion ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 163.05 Td (aggregate principal amount held by ) Tj ET Q q 0 0 0 rg BT 175.06 163.05 Td (Allianz. Loss on extinguishment of debt consists of the premium associated with repurchasing the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 151.05 Td (debentures at an amount greater than the face amount, the write-of) Tj ET Q q 0 0 0 rg BT 297.04 151.05 Td (f of the unamortized discount and debt issuance and other costs related ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 139.05 Td (to the repurchase transactions. For additional information regarding debt, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.90 139.05 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.90 139.05 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.23 139.05 Td (Debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.67 139.05 Td ( of Notes to Consolidated Financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 127.05 Td (Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 109.05 Td (For ) Tj ET Q q 0 0 0 rg BT 47.72 109.05 Td (a ) Tj ET Q q 0 0 0 rg BT 54.49 109.05 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 111.80 109.05 Td (of ) Tj ET Q q 0 0 0 rg BT 122.46 109.05 Td (the ) Tj ET Q q 0 0 0 rg BT 137.01 109.05 Td (tax ) Tj ET Q q 0 0 0 rg BT 151.56 109.05 Td (provision ) Tj ET Q q 0 0 0 rg BT 191.67 109.05 Td (at ) Tj ET Q q 0 0 0 rg BT 201.22 109.05 Td (the ) Tj ET Q q 0 0 0 rg BT 215.77 109.05 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 235.88 109.05 Td (Federal ) Tj ET Q q 0 0 0 rg BT 268.20 109.05 Td (statutory ) Tj ET Q q 0 0 0 rg BT 305.52 109.05 Td (rate ) Tj ET Q q 0 0 0 rg BT 322.84 109.05 Td (to ) Tj ET Q q 0 0 0 rg BT 332.95 109.05 Td (the ) Tj ET Q q 0 0 0 rg BT 347.50 109.05 Td (provision ) Tj ET Q q 0 0 0 rg BT 387.61 109.05 Td (\(benefit\)for ) Tj ET Q q 0 0 0 rg BT 438.52 109.05 Td (income ) Tj ET Q q 0 0 0 rg BT 470.29 109.05 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 495.67 109.05 Td (see ) Tj ET Q q 0 0 0 rg BT 510.77 109.05 Td (Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.54 109.05 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.54 109.05 Td ( ) Tj ET Q q 0 0 0 rg BT 544.87 109.05 Td (- ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.53 109.05 Td (Income ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 97.05 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 97.05 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.68 97.05 Td ( ) Tj ET Q q 0 0 0 rg BT 57.18 97.05 Td (of ) Tj ET Q q 0 0 0 rg BT 68.01 97.05 Td (Notes ) Tj ET Q q 0 0 0 rg BT 93.84 97.05 Td (to ) Tj ET Q q 0 0 0 rg BT 104.12 97.05 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 159.39 97.05 Td (Financial ) Tj ET Q q 0 0 0 rg BT 199.10 97.05 Td (Statements.) 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See Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.07 621.25 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.07 621.25 Td ( of Notes to Consolidated Financial Statements for additional information on the goodwill ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 609.25 Td (impairment.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (In addition, insurance operating costs and other expenses increased as a result of restructuring and other costs related to the Company) Tj ET Q q 0 0 0 rg BT 568.28 593.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (implementation of its strategic initiatives. See Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.23 581.25 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.23 581.25 Td ( of Notes to Consolidated Financial Statements for additional information on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (restructuring and other costs. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 553.25 Td (Partially of) Tj ET Q q 0 0 0 rg BT 76.03 553.25 Td (fsetting the losses was an increase in net realized capital gains \(losses\), primarily due to gains on derivatives as a result of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 541.25 Td (credit spreads tightening. For additional information on net realized capital gains, see the Investment Results section. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 525.25 Td (For ) Tj ET Q q 0 0 0 rg BT 47.72 525.25 Td (a ) Tj ET Q q 0 0 0 rg BT 54.49 525.25 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 111.80 525.25 Td (of ) Tj ET Q q 0 0 0 rg BT 122.46 525.25 Td (the ) Tj ET Q q 0 0 0 rg BT 137.01 525.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 151.56 525.25 Td (provision ) Tj ET Q q 0 0 0 rg BT 191.67 525.25 Td (at ) Tj ET Q q 0 0 0 rg BT 201.22 525.25 Td (the ) Tj ET Q q 0 0 0 rg BT 215.77 525.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 235.88 525.25 Td (Federal ) Tj ET Q q 0 0 0 rg BT 268.20 525.25 Td (statutory ) Tj ET Q q 0 0 0 rg BT 305.52 525.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 322.84 525.25 Td (to ) Tj ET Q q 0 0 0 rg BT 332.95 525.25 Td (the ) Tj ET Q q 0 0 0 rg BT 347.50 525.25 Td (provision ) Tj ET Q q 0 0 0 rg BT 387.61 525.25 Td (\(benefit\)for ) Tj ET Q q 0 0 0 rg BT 438.52 525.25 Td (income ) Tj ET Q q 0 0 0 rg BT 470.29 525.25 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 495.67 525.25 Td (see ) Tj ET Q q 0 0 0 rg BT 510.77 525.25 Td (Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.54 525.25 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.54 525.25 Td ( ) Tj ET Q q 0 0 0 rg BT 544.87 525.25 Td (- ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.53 525.25 Td (Income ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 513.25 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 513.25 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.68 513.25 Td ( ) Tj ET Q q 0 0 0 rg BT 57.18 513.25 Td (of ) Tj ET Q q 0 0 0 rg BT 68.01 513.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 93.84 513.25 Td (to ) Tj ET Q q 0 0 0 rg BT 104.12 513.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 159.39 513.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 199.10 513.25 Td (Statements.) Tj ET Q endstream endobj 179 0 obj <> endobj 180 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (89) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (ENTERPRISE ) Tj ET Q q 0 0 0 rg BT 97.91 713.25 Td (RISK ) Tj ET Q q 0 0 0 rg BT 124.86 713.25 Td (MANAGEMENT) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The Company has an enterprise risk management function \(ERM\) that is char) Tj ET Q q 0 0 0 rg BT 350.94 695.25 Td (ged with providing analysis of the Company) Tj ET Q q 0 0 0 rg BT 531.47 695.25 Td (s risks on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (an individual and aggregated basis and with ensuring that the Company) Tj ET Q q 0 0 0 rg BT 320.32 683.25 Td (s risks remain within its risk appetite and tolerances. ) Tj ET Q q 0 0 0 rg BT 532.32 683.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (Company has established the Enterprise Risk and Capital Committee \(ERCC\) that includes the Company) Tj ET Q q 0 0 0 rg BT 463.92 671.25 Td (s CEO, Chief Financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (Of) Tj ET Q q 0 0 0 rg BT 41.87 659.25 Td (ficer \(CFO\), Chief Investment Of) Tj ET Q q 0 0 0 rg BT 184.70 659.25 Td (ficer \(CIO\), Chief Risk Of) Tj ET Q q 0 0 0 rg BT 299.20 659.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 317.12 659.25 Td (, the divisional Presidents and the General Counsel. ) Tj ET Q q 0 0 0 rg BT 525.78 659.25 Td (The ERCC is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (responsible for managing the Company) Tj ET Q q 0 0 0 rg BT 192.02 647.25 Td (s risks and overseeing the enterprise risk management program. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (The Company categorizes its main risks as follows:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 611.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 611.25 Td (Insurance Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 593.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 593.25 Td (Operational Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 575.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 575.25 Td (Financial Risk) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 76.24 557.25 Td (Risk ) Tj ET Q q 0 0 0 rg BT 97.08 557.25 Td (Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (The Company categorizes its insurance risks across both property-casualty and life products. ) Tj ET Q q 0 0 0 rg BT 404.82 539.25 Td (The Company's insurance operations are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (vested in the ability to add value through the ef) Tj ET Q q 0 0 0 rg BT 219.88 527.25 Td (fective underwriting, pooling, and pricing of insurance risks. ) Tj ET Q q 0 0 0 rg BT 464.91 527.25 Td (The Company has ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (developed a disciplined approach to insurance risk management that is well integrated into the or) Tj ET Q q 0 0 0 rg BT 419.53 515.25 Td (ganization's underwriting, pricing, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (reinsurance, claims, and capital management processes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.25 Td (At the same time, the Company has policies and procedures to manage concentrations or correlations of insurance risk, including ERM ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (policies governing the risks related to natural and man-made property catastrophes such as hurricanes, earthquakes, tornado/hailstorms, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (winter storms, pandemics, terrorism, and casualty catastrophes. ) Tj ET Q q 0 0 0 rg BT 287.08 461.25 Td (The Company establishes risk limits to control potential loss and actively ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (monitors the risk exposures as a percent of statutory surplus. ) Tj ET Q q 0 0 0 rg BT 275.99 449.25 Td (The Company also uses reinsurance to transfer insurance risk to well-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (established and financially secure reinsurers \(see Reinsurance Section\). ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (Non-Catastr) Tj ET Q q 0 0 0 rg BT 84.64 419.25 Td (ophic Insurance Risks) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (Non-catastrophic ) Tj ET Q q 0 0 0 rg BT 102.86 401.25 Td (insurance ) Tj ET Q q 0 0 0 rg BT 143.68 401.25 Td (risks ) Tj ET Q q 0 0 0 rg BT 165.07 401.25 Td (exist ) Tj ET Q q 0 0 0 rg BT 186.46 401.25 Td (within ) Tj ET Q q 0 0 0 rg BT 214.51 401.25 Td (each ) Tj ET Q q 0 0 0 rg BT 235.33 401.25 Td (of ) Tj ET Q q 0 0 0 rg BT 246.16 401.25 Td (the ) Tj ET Q q 0 0 0 rg BT 260.88 401.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 307.96 401.25 Td (divisions ) Tj ET Q q 0 0 0 rg BT 346.57 401.25 Td (and ) Tj ET Q q 0 0 0 rg BT 363.51 401.25 Td (include, ) Tj ET Q q 0 0 0 rg BT 397.95 401.25 Td (but ) Tj ET Q q 0 0 0 rg BT 413.22 401.25 Td (are ) Tj ET Q q 0 0 0 rg BT 427.93 401.25 Td (not ) Tj ET Q q 0 0 0 rg BT 443.21 401.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 474.04 401.25 Td (to, ) Tj ET Q q 0 0 0 rg BT 486.82 401.25 Td (the ) Tj ET Q q 0 0 0 rg BT 501.53 401.25 Td (following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 383.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 61.50 383.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 71.87 383.25 Td (operty:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.96 383.25 Td ( Risk of loss to personal or commercial property from automobile related accidents, weather) Tj ET Q q 0 0 0 rg BT 471.33 383.25 Td (, explosions, smoke, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 371.25 Td (shaking, fire, theft, vandalism, inadequate installation, faulty equipment, collisions and falling objects, and/or machinery ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 359.25 Td (mechanical breakdown resulting in physical damage and other covered perils.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 347.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 61.50 347.25 Td (Liability:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 101.50 347.25 Td ( Risk of loss from automobile related accidents, uninsured and underinsured drivers, lawsuits from accidents, defective ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 335.25 Td (products, breach of warranty) Tj ET Q q 0 0 0 rg BT 175.80 335.25 Td (, negligent acts by professional practitioners, environmental claims, latent exposures, fraud, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 323.25 Td (coercion, for) Tj ET Q q 0 0 0 rg BT 112.40 323.25 Td (gery) Tj ET Q q 0 0 0 rg BT 129.52 323.25 Td (, failure to fulfill obligations per contract surety) Tj ET Q q 0 0 0 rg BT 319.37 323.25 Td (, liability from errors and omissions, derivative lawsuits, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 311.25 Td (other securities actions and covered perils.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 299.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 61.50 299.25 Td (Mortality:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 105.92 299.25 Td ( Risk of loss from unexpected trends in insured deaths impacting timing of payouts from life insurance or annuity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 287.25 Td (products, personal or commercial automobile related accidents, and death of employees or executives during the course of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 275.25 Td (employment, while on disability) Tj ET Q q 0 0 0 rg BT 190.28 275.25 Td (, or while collecting workers compensation benefits.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 263.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 61.50 263.25 Td (Morbidity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 105.39 263.25 Td (: Risk of loss to an insured from illness incurred during the course of employment or illness from other covered perils.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 251.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 61.50 251.25 Td (Disability:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 105.95 251.25 Td ( Risk of loss incurred from personal or commercial automobile related losses, accidents arising outside of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 239.25 Td (workplace, injuries or accidents incurred during the course of employment, or from equipment, each loss resulting short term or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 227.25 Td (long term disability payments.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.50 215.25 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 61.50 215.25 Td (Longevity:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 107.61 215.25 Td ( Risk of loss from increased life expectancy trends among policyholders receiving long term benefit payments or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 203.25 Td (annuity payouts.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.25 Td (The Company's processes for managing these risks include disciplined underwriting protocols, exposure controls, sophisticated risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (based pricing, risk modeling, risk transfer) Tj ET Q q 0 0 0 rg BT 198.00 173.25 Td (, and capital management strategies. ) Tj ET Q q 0 0 0 rg BT 345.26 173.25 Td (The Company has established underwriting guidelines for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.25 Td (both individual risks, including individual policy limits, and risks in the aggregate, including aggregate exposure limits by geographic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.25 Td (zone and peril. Pricing indications for each line of business are set independently by the Company's pricing actuaries and are integrated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.25 Td (into the reserve review process to ensure consistency between pricing and reserving. Monthly reports track loss cost trends relative to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.25 Td (pricing objectives within each state and product, and the Company's reserving actuaries provide an independent report to the Board on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.25 Td (the Company's reserve position and loss cost trends.) Tj ET Q endstream endobj 181 0 obj <> endobj 182 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (90) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Natural Catastr) Tj ET Q q 0 0 0 rg BT 99.36 713.25 Td (ophe Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Natural catastrophe risk is defined as the exposure arising from natural phenomena \(e.g., weather) Tj ET Q q 0 0 0 rg BT 419.84 695.25 Td (, earthquakes, wildfires, etc.\) that create ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (a concentration or aggregation of loss across the Company's insurance or asset portfolios. ) Tj ET Q q 0 0 0 rg BT 391.36 683.25 Td (The Company uses both internal and third-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (party models to estimate the potential loss resulting from various catastrophe events and the potential financial impact those events ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (would have on the Company's financial position and results of operations across the property-casualty) Tj ET Q q 0 0 0 rg BT 438.94 659.25 Td (, life, and asset management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (businesses. For natural catastrophe perils, the Company generally limits its estimated pre-tax loss as a result of natural catastrophes for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (property & casualty exposures from a single 250-year event to less than 30% of statutory surplus prior to reinsurance and to less than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (15% of statutory surplus after reinsurance. ) Tj ET Q q 0 0 0 rg BT 203.77 623.25 Td (The Company's modeled loss estimates are derived by averaging 21 modeled loss events ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (representing a 250-year return period loss. For the peril of earthquake, the 21 events averaged to determine the modeled loss estimate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (include events occurring in California as well as the Northeastern, Southeastern, Northwestern, Midwestern and New Madrid regions of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (the United States with associated magnitudes ranging from 6.4 to 8.1 on the Moment Magnitude scale. For the peril of hurricane, the 21 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (events averaged to determine the modeled loss estimate include category 3, 4 and 5 events in Florida, as well as other Gulf, Mid ) Tj ET Q q 0 0 0 rg BT 545.80 575.25 Td (Atlantic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (and Northeastern region landfalls.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (While Enterprise Risk Management has a process to track and manage these limits, from time to time, the estimated loss to natural ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (catastrophes from a single 250-year event prior to reinsurance may fluctuate above or below these limits due to changes in modeled loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (estimates, exposures, or statutory surplus. Currently) Tj ET Q q 0 0 0 rg BT 238.59 521.25 Td (, the Company's estimated pre-tax loss to a single 250-year natural catastrophe event ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (prior to reinsurance is less than 30% of the statutory surplus of the property and casualty insurance subsidiaries and the Company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.25 Td (estimated pre-tax loss net of reinsurance is less than 15% of statutory surplus of the property and casualty operations. ) Tj ET Q q 0 0 0 rg BT 502.86 497.25 Td (The estimated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.25 Td (250year pre-tax probable maximum losses from hurricane events are estimated to be $1.5billion and $484, before and after reinsurance, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 473.25 Td (. ) Tj ET Q q 0 0 0 rg BT 83.98 473.25 Td (The estimated 250year pre-tax probable maximum loss from earthquake events is estimated to be $734 before reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (and $479 net of reinsurance. ) Tj ET Q q 0 0 0 rg BT 147.39 461.25 Td (The loss estimates represent total property losses for hurricane events and property and workers ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (compensation losses for earthquake events resulting from a single event. ) Tj ET Q q 0 0 0 rg BT 323.74 449.25 Td (The estimates provided are based on 250-year return period loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (estimates that have a 0.4% likelihood of being exceeded in any single year) Tj ET Q q 0 0 0 rg BT 328.90 437.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (The net loss estimates provided above assume that the Company is able to recover all losses ceded to reinsurers under its reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.25 Td (programs. ) Tj ET Q q 0 0 0 rg BT 74.09 407.25 Td (There are various methodologies used in the industry to estimate the potential property and workers compensation losses that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.25 Td (would arise from various catastrophe events and companies may use dif) Tj ET Q q 0 0 0 rg BT 319.01 395.25 Td (ferent models and assumptions in their estimates. ) Tj ET Q q 0 0 0 rg BT 518.23 395.25 Td (Therefore, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (Company's estimates of gross and net losses arising from a 250-year hurricane or earthquake event may not be comparable to estimates ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.25 Td (provided by other companies. Furthermore, the Company's estimates are subject to significant uncertainty and could vary materially ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.25 Td (from the actual losses that would arise from these events and the loss estimates provided by other companies. ) Tj ET Q q 0 0 0 rg BT 470.93 359.25 Td (The Company also ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (manages natural catastrophe risk for group life and group disability) Tj ET Q q 0 0 0 rg BT 299.94 347.25 Td (, which in combination with property and workers compensation loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (estimates are subject to separate enterprise risk management net aggregate loss limits as a percent of enterprise surplus.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 317.25 Td (T) Tj ET Q q 0 0 0 rg BT 37.25 317.25 Td (err) Tj ET Q q 0 0 0 rg BT 50.39 317.25 Td (orism Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.25 Td (The Company defines terrorism risk as the risk of losses from terrorist attacks, including losses caused by single-site and multi-site ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.25 Td (conventional attacks, as well as the potential for attacks using nuclear) Tj ET Q q 0 0 0 rg BT 309.62 287.25 Td (, biological, chemical or radiological weapons \(NBCR\). ) Tj ET Q q 0 0 0 rg BT 544.36 287.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (Company monitors aggregations of terrorism risk exposure around key landmarks primarily in major metropolitan areas that span the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.25 Td (Company's insurance portfolio. Enterprise Risk Management limits for terrorism apply to aggregations of risk across property-casualty) Tj ET Q q 0 0 0 rg BT 570.86 263.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.25 Td (group benefits and specific asset portfolios and are defined based on a deterministic, single-site conventional terrorism attack scenario. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.25 Td (The Company manages its potential estimated loss from a conventional terrorism loss scenario to less than $1.3 billion. In addition, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.25 Td (Company monitors exposures monthly and employs both internally developed and vendor) Tj ET Q q 0 0 0 rg BT 391.79 227.25 Td (-licensed loss modeling tools as part of its risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (management discipline. ) Tj ET Q q 0 0 0 rg BT 131.29 215.25 Td (While our modeled exposures to conventional terrorist attacks around landmark locations may fluctuate above ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.25 Td (and below $1.3 billion, currently) Tj ET Q q 0 0 0 rg BT 161.93 203.25 Td (, all such terrorism exposures are within ERM limits. For a discussion on risks related to terrorist ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.25 Td (attacks, see the risk factor) Tj ET Q q 0 0 0 rg BT 134.66 191.25 Td (, "The occurrence of one or more terrorist attacks in the geographic areas we serve or the threat of terrorism in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.25 Td (general may have a material adverse ef) Tj ET Q q 0 0 0 rg BT 187.34 179.25 Td (fect on our business, financial condition, results of operations and liquidity) Tj ET Q q 0 0 0 rg BT 486.08 179.25 Td (.") Tj ET Q endstream endobj 183 0 obj <> endobj 184 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (91) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Pandemic Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Pandemic risk is the exposure to loss arising from widespread influenza or other pathogens or bacterial infections that create an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (aggregation of loss across the Company's insurance or asset portfolios. Consistent with industry practice, the Company assesses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (exposure to pandemics by analyzing the potential impact from a variety of pandemic scenarios based on conditions consistent with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (historical outbreaks of flu-like viruses such as the Severe 1918 Spanish Flu, the ) Tj ET Q q 0 0 0 rg BT 360.32 659.25 Td (Asian flu of 1957, the Hong Kong flu of 1968, and the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (2009 outbreak of the swine flu. For pandemic risk, the Company generally limits its estimated pre-tax loss from a single 250year event ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (to less than 12.5% of the combined statutory surplus for the enterprise. In evaluating these scenarios, the Company assesses the impact ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (on group life policies, short-term and long term disability) Tj ET Q q 0 0 0 rg BT 260.53 623.25 Td (, annuities, COLI, property & casualty claims, and losses in the investment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (portfolio associated with market declines in the event of a widespread pandemic. ) Tj ET Q q 0 0 0 rg BT 357.04 611.25 Td (While Enterprise Risk Management has a process to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (track and manage these limits, from time to time, the estimated loss for pandemics may fluctuate above or below these limits due to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (changes in modeled loss estimates, exposures, or statutory surplus. Currently) Tj ET Q q 0 0 0 rg BT 338.58 587.25 Td (, the Company's estimated pre-tax loss for pandemic is less ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (than 12.5% of enterprise statutory surplus.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (Reinsurance as a Risk Management Strategy) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (The Hartford utilizes reinsurance to transfer risk to af) Tj ET Q q 0 0 0 rg BT 245.12 539.25 Td (filiated and unaf) Tj ET Q q 0 0 0 rg BT 310.47 539.25 Td (filiated insurers. Reinsurance is used to manage aggregation of risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (as well as to transfer certain risk to reinsurance companies based on specific geographic or risk concentrations. ) Tj ET Q q 0 0 0 rg BT 476.90 527.25 Td (All reinsurance processes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (are aligned under a single enterprise reinsurance risk management policy) Tj ET Q q 0 0 0 rg BT 322.68 515.25 Td (. Reinsurance purchasing is a centralized function across ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (Commercial, Consumer Markets and ) Tj ET Q q 0 0 0 rg BT 181.56 503.25 Td (T) Tj ET Q q 0 0 0 rg BT 186.97 503.25 Td (alcott Resolution to support a consistent strategy and to ensure that the reinsurance activities are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (fully integrated into the or) Tj ET Q q 0 0 0 rg BT 136.29 491.25 Td (ganization's risk management processes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 473.25 Td ( variety of traditional reinsurance products are used as part of the Company's risk management strategy) Tj ET Q q 0 0 0 rg BT 450.02 473.25 Td (, including excess of loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (occurrence-based products that protect property and workers compensation exposures, and individual risk or quota share arrangements, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (that protect specific classes or lines of business. ) Tj ET Q q 0 0 0 rg BT 224.88 449.25 Td (The Company has no significant finite risk contracts in place and the statutory surplus ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (benefit from all such prior year contracts is immaterial. Facultative reinsurance is used by the Company to manage policy-specific risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (exposures based on established underwriting guidelines. ) Tj ET Q q 0 0 0 rg BT 258.77 425.25 Td (The Hartford also participates in governmentally administered reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (facilities such as the Florida Hurricane Catastrophe Fund \(FHCF\), the ) Tj ET Q q 0 0 0 rg BT 322.08 413.25 Td (T) Tj ET Q q 0 0 0 rg BT 327.49 413.25 Td (errorism Risk Insurance Program established under ) Tj ET Q q 0 0 0 rg BT 535.04 413.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 401.25 Td (errorism Risk Insurance Program Reauthorization ) Tj ET Q q 0 0 0 rg BT 238.25 401.25 Td (Act of 2007 \(TRIPRA\) and other reinsurance programs relating to particular risks ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (or specific lines of business.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 371.25 Td (Reinsurance for Catastr) Tj ET Q q 0 0 0 rg BT 127.79 371.25 Td (ophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.25 Td (The Company has several catastrophe reinsurance programs, including reinsurance treaties that cover property and workers) Tj ET Q q 0 0 0 rg BT 527.51 353.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.25 Td (compensation losses aggregating from single catastrophe events. ) Tj ET Q q 0 0 0 rg BT 292.36 341.25 Td (The following table summarizes the primary catastrophe treaty ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.25 Td (reinsurance coverages that the Company has in place as of January1, 2014:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 288.75 215.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.00 288.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.00 288.75 59.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 288.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 288.75 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 288.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 288.75 98.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 288.75 19.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 288.75 51.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 228.75 215.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 247.00 228.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 251.00 228.75 59.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 228.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 228.75 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 228.75 4.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 228.75 98.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 482.00 228.75 19.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 228.75 51.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 288.75 m 247 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 247 288.75 m 251 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 251 288.75 m 310 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310 288.75 m 314 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 288.75 m 380 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380 288.75 m 384 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384 288.75 m 482 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 482 288.75 m 501 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 288.75 m 552 288.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 263.75 m 247 263.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 247 263.75 m 251 263.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 251 263.75 m 310 263.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310 263.75 m 314 263.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 263.75 m 380 263.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380 263.75 m 384 263.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384 263.75 m 482 263.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 482 263.75 m 501 263.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 263.75 m 552 263.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 228.75 m 247 228.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 203.75 m 247 203.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 247 228.75 m 251 228.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 247 203.75 m 251 203.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 251 228.75 m 310 228.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 251 203.75 m 310 203.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310 228.75 m 314 228.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310 203.75 m 314 203.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 228.75 m 380 228.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 203.75 m 380 203.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380 228.75 m 384 228.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380 203.75 m 384 203.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384 228.75 m 482 228.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384 203.75 m 482 203.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 482 228.75 m 501 228.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 482 203.75 m 501 203.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 228.75 m 552 228.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 203.75 m 552 203.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 120.75 293.20 Td (Coverage) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 257.05 293.20 Td (Treaty term) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.50 302.20 Td (% of layer\(s\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.80 293.20 Td (reinsurance) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.40 293.20 Td (Per occurrence limit) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 484.50 293.21 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 507.25 293.20 Td (Retention) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 278.42 Td (Principal property catastrophe program covering) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 268.42 Td (property catastrophe losses from a single event) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.05 279.32 Td (1/1/2014 to) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.20 269.32 Td (1/1/2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.30 279.32 Td (90%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.50 279.32 Td ($850) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.50 279.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.00 279.32 Td ($350) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 253.42 Td (Reinsurance with the FHCF covering Florida) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 243.42 Td (Personal Lines property catastrophe losses from a) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 233.42 Td (single event) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.05 254.32 Td (6/1/2013 to) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.20 244.32 Td (6/1/2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.30 254.32 Td (90%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.50 254.32 Td ($119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.50 254.32 Td ([1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 254.32 Td ($43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 218.42 Td (Workers compensation losses arising from a single) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 208.42 Td (catastrophe event [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.05 219.32 Td (7/1/2013 to) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.20 209.32 Td (7/1/2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.30 219.32 Td (80%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.50 219.32 Td ($350) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.50 219.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.00 219.32 Td ($100) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 187.45 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 187.45 Td (The per occurr) Tj ET Q q 0 0 0 rg BT 107.66 187.45 Td (ence limit on the FHCF tr) Tj ET Q q 0 0 0 rg BT 201.05 187.45 Td (eaty is $1) Tj ET Q q 0 0 0 rg BT 234.88 187.45 Td (19 for the 6/1/2013 to 6/1/2014 tr) Tj ET Q q 0 0 0 rg BT 355.55 187.45 Td (eaty year based on the Company's election to pur) Tj ET Q q 0 0 0 rg BT 533.10 187.45 Td (chase the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 176.65 Td (r) Tj ET Q q 0 0 0 rg BT 57.17 176.65 Td (equir) Tj ET Q q 0 0 0 rg BT 75.83 176.65 Td (ed coverage fr) Tj ET Q q 0 0 0 rg BT 127.48 176.65 Td (om FHCF) Tj ET Q q 0 0 0 rg BT 163.06 176.65 Td (. Coverage is based on the best available information fr) Tj ET Q q 0 0 0 rg BT 363.71 176.65 Td (om FHCF) Tj ET Q q 0 0 0 rg BT 399.30 176.65 Td (, which was updated in January 2014.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 165.85 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 165.85 Td (In addition, to the limit shown above, the workers compensation r) Tj ET Q q 0 0 0 rg BT 290.65 165.85 Td (einsurance includes a non-catastr) Tj ET Q q 0 0 0 rg BT 412.54 165.85 Td (ophe, industrial accident layer) Tj ET Q q 0 0 0 rg BT 522.02 165.85 Td (, 80% of $30 ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 155.05 Td (excess a $20 r) Tj ET Q q 0 0 0 rg BT 104.90 155.05 Td (etention.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 132.25 Td (In addition to the property catastrophe reinsurance coverage described in the above table, the Company has other catastrophe and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 120.25 Td (working layer treaties and facultative reinsurance agreements that cover property catastrophe losses on an aggregate excess of loss and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 108.25 Td (on a per risk basis. ) Tj ET Q q 0 0 0 rg BT 108.53 108.25 Td (The principal property catastrophe reinsurance program and other reinsurance programs include a provision to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 96.25 Td (reinstate limits in the event that a catastrophe loss exhausts limits on one or more layers under the treaties.) Tj ET Q endstream endobj 185 0 obj <> endobj 186 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (92) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (In addition to the reinsurance protection provided by ) Tj ET Q q 0 0 0 rg BT 244.59 713.10 Td (The Hartford's traditional property catastrophe reinsurance program described ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (above, the Hartford has fully collateralized reinsurance coverage from Foundation Re III for losses sustained from qualifying hurricane ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (loss events. Under the terms of the treaty) Tj ET Q q 0 0 0 rg BT 194.69 689.10 Td (, the Company is reimbursed for losses from hurricanes using a customized industry index ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (contract designed to replicate ) Tj ET Q q 0 0 0 rg BT 151.27 677.10 Td (The Hartford's own catastrophe losses, with a provision that the actual losses incurred by the Company for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (covered events, net of reinsurance recoveries, cannot be less than zero.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (The following table summarizes the terms of the reinsurance treaty with Foundation Re III that was in place as of February 4, 2014:) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 607.6 m 213 607.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 562.6 m 213 562.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 213 607.6 m 275 607.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 213 562.6 m 275 562.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 275 607.6 m 484 607.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 275 562.6 m 484 562.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484 607.6 m 581 607.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 484 562.6 m 581 562.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 612.05 Td (Covered perils) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 220.55 612.05 Td (Treaty term) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.95 612.05 Td (Covered losses) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.10 621.05 Td (Bond amount issued by) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 496.95 612.05 Td (Foundation Re III) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 598.17 Td (Hurricane loss events affecting the Gulf) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 588.17 Td (and Eastern Coast of the United States) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 215.50 598.17 Td (2/18/2011 to) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 215.50 588.17 Td (2/18/2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.50 598.17 Td (At the time of the purchase, 67.5% of $200 in) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.50 588.17 Td (losses in excess of an index loss trigger equating) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.50 578.17 Td (to approximately $1.4 billion in losses to The) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.50 568.17 Td (Hartford) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.00 598.17 Td ($135) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (As of February 4, 2014, there have been no events that are expected to trigger a recovery under the Foundation Re III reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (program and, accordingly) Tj ET Q q 0 0 0 rg BT 133.87 533.10 Td (, the Company has not recorded any recoveries from the associated reinsurance treaty) Tj ET Q q 0 0 0 rg BT 475.03 533.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 515.10 Td (Reinsurance for T) Tj ET Q q 0 0 0 rg BT 102.80 515.10 Td (err) Tj ET Q q 0 0 0 rg BT 114.65 515.10 Td (orism) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (For the risk of terrorism, private sector catastrophe reinsurance capacity is generally limited and lar) Tj ET Q q 0 0 0 rg BT 428.67 497.10 Td (gely unavailable for terrorism losses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (caused by nuclear) Tj ET Q q 0 0 0 rg BT 102.73 485.10 Td (, biological, chemical or radiological weapons attacks. ) Tj ET Q q 0 0 0 rg BT 322.10 485.10 Td (As such, the Company's principal reinsurance protection against ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (lar) Tj ET Q q 0 0 0 rg BT 41.87 473.10 Td (ge-scale terrorist attacks is the coverage currently provided through the ) Tj ET Q q 0 0 0 rg BT 328.79 473.10 Td (TRIPRA. On December26, 2007, the President signed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (TRIPRA) Tj ET Q q 0 0 0 rg BT 66.51 461.10 Td ( extending the ) Tj ET Q q 0 0 0 rg BT 125.48 461.10 Td (T) Tj ET Q q 0 0 0 rg BT 130.89 461.10 Td (errorism Risk Insurance ) Tj ET Q q 0 0 0 rg BT 228.92 461.10 Td (Act of 2002 \(TRIA\) through the end of 2014. ) Tj ET Q q 0 0 0 rg BT 421.47 461.10 Td (TRIPRA) Tj ET Q q 0 0 0 rg BT 456.48 461.10 Td ( provides a backstop for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (insurance-related losses resulting from any act of terrorism certified by the Secretary of the ) Tj ET Q q 0 0 0 rg BT 407.28 449.10 Td (T) Tj ET Q q 0 0 0 rg BT 413.03 449.10 Td (reasury) Tj ET Q q 0 0 0 rg BT 441.81 449.10 Td (, in concurrence with the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (Secretary of State and ) Tj ET Q q 0 0 0 rg BT 121.47 437.10 Td (Attorney General, that result in industry losses in excess of $100. In addition, ) Tj ET Q q 0 0 0 rg BT 433.45 437.10 Td (TRIPRA) Tj ET Q q 0 0 0 rg BT 468.46 437.10 Td ( revised the ) Tj ET Q q 0 0 0 rg BT 516.87 437.10 Td (TRIA) Tj ET Q q 0 0 0 rg BT 539.65 437.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (definition of a certified act of terrorism by removing the requirement that an act be committed on behalf of any foreign person or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (foreign interest. ) Tj ET Q q 0 0 0 rg BT 101.20 413.10 Td (As a result, domestic acts of terrorism can now be certified as acts of terrorism under the program, subject to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (other requirements of ) Tj ET Q q 0 0 0 rg BT 119.90 401.10 Td (TRIPRA. Under the program, in any one calendar year) Tj ET Q q 0 0 0 rg BT 338.87 401.10 Td (, the federal government would pay 85% of covered losses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.10 Td (from a certified act of terrorism after an insurer's losses exceed 20% of the Company's eligible direct commercial earned premiums of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.10 Td (the prior calendar year up to a combined annual aggregate limit for the federal government and all insurers of $100billion. ) Tj ET Q q 0 0 0 rg BT 527.54 377.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.10 Td (Company's estimated deductible under the program is $1.2billion for 2014. If an act of terrorism or acts of terrorism result in covered ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (losses exceeding the $100billion annual industry aggregate limit, a future Congress would be responsible for determining how ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (additional losses in excess of $100billion will be paid.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.10 Td (Among other items, ) Tj ET Q q 0 0 0 rg BT 113.53 323.10 Td (TRIPRA) Tj ET Q q 0 0 0 rg BT 148.54 323.10 Td ( required that the President's ) Tj ET Q q 0 0 0 rg BT 264.30 323.10 Td (W) Tj ET Q q 0 0 0 rg BT 272.94 323.10 Td (orking Group on Financial Markets \(PWG\) continue to perform an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (analysis regarding the long-term availability and af) Tj ET Q q 0 0 0 rg BT 235.69 311.10 Td (fordability of insurance for terrorism risk. ) Tj ET Q q 0 0 0 rg BT 404.82 311.10 Td (Among the findings detailed in the PWG's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.10 Td (initial report, released October2, 2006, were that the high level of uncertainty associated with predicting the frequency of terrorist ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.10 Td (attacks, coupled with the unwillingness of some insurance policyholders to purchase insurance coverage, makes predicting long-term ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (development of the terrorism risk market dif) Tj ET Q q 0 0 0 rg BT 209.04 275.10 Td (ficult, and that there is likely little potential for future market development for NBCR ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.10 Td (coverage. ) Tj ET Q q 0 0 0 rg BT 72.40 263.10 Td (The January201) Tj ET Q q 0 0 0 rg BT 138.68 263.10 Td (1 PWG report notes some improvements in capacity and modeling, but also noted that take-up rates for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.10 Td (terrorism coverage remained relatively flat over the past three years and that insurers remain uncertain about the ability of models to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.10 Td (predict the frequency and severity of terrorist attacks. In 2013, the PWG requested comment on the long-term availability and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.10 Td (af) Tj ET Q q 0 0 0 rg BT 39.09 227.10 Td (fordability of insurance for terrorism risk but that report has not been released. ) Tj ET Q q 0 0 0 rg BT 357.97 227.10 Td (W) Tj ET Q q 0 0 0 rg BT 367.01 227.10 Td (ith respect to NBCR coverage, a December2008 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.10 Td (study by the U.S. Government ) Tj ET Q q 0 0 0 rg BT 155.10 215.10 Td (Accountability Of) Tj ET Q q 0 0 0 rg BT 227.40 215.10 Td (fice \(GAO\) found that property and casualty insurers still generally seek to exclude ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.10 Td (NBCR coverage from their commercial policies when permitted. However) Tj ET Q q 0 0 0 rg BT 329.61 203.10 Td (, while nuclear) Tj ET Q q 0 0 0 rg BT 388.35 203.10 Td (, pollution and contamination exclusions are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.10 Td (contained in many property and liability insurance policies, the GAO report concluded that such exclusions may be subject to challenges ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.10 Td (in court because they were not specifically drafted to address terrorist attacks. Furthermore, workers compensation policies generally ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.10 Td (have no exclusion or limitations. ) Tj ET Q q 0 0 0 rg BT 164.63 167.10 Td (The GAO found that commercial property and casualty policyholders, including companies that own ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.10 Td (high-value properties in lar) Tj ET Q q 0 0 0 rg BT 139.89 155.10 Td (ge cities, generally reported that they could not obtain NBCR coverage. Commercial property and casualty ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.10 Td (insurers generally remain unwilling to of) Tj ET Q q 0 0 0 rg BT 194.89 143.10 Td (fer NBCR coverage because of uncertainties about the risk and the potential for catastrophic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.10 Td (losses.) Tj ET Q endstream endobj 187 0 obj <> endobj 188 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (93) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Reinsurance Recoverables) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 693.7669921875 m 116.7490234375 693.7669921875 l s q 0 0 0 rg BT 31.50 695.10 Td (Reinsurance Security) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 677.10 Td (o manage reinsurer credit risk, a reinsurance security review committee evaluates the credit standing, financial performance, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (management and operational quality of each potential reinsurer) Tj ET Q q 0 0 0 rg BT 283.90 665.10 Td (. ) Tj ET Q q 0 0 0 rg BT 288.72 665.10 Td (Through this process, the Company maintains a centralized list of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (reinsurers approved for participation in reinsurance transactions. Only reinsurers approved through this process are eligible to participate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (in new reinsurance transactions. ) Tj ET Q q 0 0 0 rg BT 162.11 641.10 Td (The Company's approval designations reflect the dif) Tj ET Q q 0 0 0 rg BT 370.89 641.10 Td (fering credit exposure associated with various ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (classes of business. Participation eligibility is categorized based upon the nature of the risk reinsured, including the expected liability ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (payout duration. In addition to defining participation eligibility) Tj ET Q q 0 0 0 rg BT 283.02 617.10 Td (, the Company regularly monitors credit risk exposure to each reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (counterparty and has established limits tiered by counterparty credit rating. For further discussions on how the Company manages and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (mitigates third party credit risk, refer to the Credit Risk section.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 573.7669921875 m 299.7421875 573.7669921875 l s q 0 0 0 rg BT 31.50 575.10 Td (Property and Casualty Insurance Product Reinsurance Recoverable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (Property and casualty insurance product reinsurance recoverables represent loss and loss adjustment expense recoverables from a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (number of entities, including reinsurers and pools. ) Tj ET Q q 0 0 0 rg BT 234.89 545.10 Td (The following table shows the components of the gross and net reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (recoverable as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.29 533.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.88 533.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.31 533.10 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.90 533.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 505.60 312.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 505.60 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 505.60 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 483.60 312.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 483.60 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 483.60 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 461.60 312.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 461.60 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 461.60 96.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 505.6 m 344 505.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344 505.6 m 440 505.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440 505.6 m 536 505.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 483.6 m 344 483.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344 483.6 m 440 483.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440 483.6 m 536 483.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 461.6 m 344 461.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344 461.6 m 440 461.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440 461.6 m 536 461.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 450.6 m 344 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 450.6 m 440 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 450.6 m 536 450.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 508.05 Td (Reinsurance Recoverable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 381.35 508.05 Td ( 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.35 508.05 Td ( 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 496.22 Td (Paid loss and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.50 496.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 496.22 Td (138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.50 496.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 496.22 Td (170) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 485.22 Td (Unpaid loss and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.65 485.22 Td (2,841) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.65 485.22 Td (2,852) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 474.38 Td (Gross reinsurance recoverable) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.65 474.38 Td (2,979) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.65 474.38 Td (3,022) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 463.22 Td (Less: allowance for uncollectible reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.80 463.22 Td (\(244) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.15 463.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.80 463.22 Td (\(268) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.15 463.22 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 452.38 Td (Net reinsurance recoverable) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.50 452.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.65 452.38 Td (2,735) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.50 452.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.65 452.38 Td (2,754) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 433.10 Td (As shown in the following table, a portion of the total gross reinsurance recoverable relates to the Company) Tj ET Q q 0 0 0 rg BT 465.27 433.10 Td (s mandatory participation in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 421.10 Td (various involuntary assigned risk pools and the value of annuity contracts held under structured settlement agreements. Reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 409.10 Td (recoverables due from mandatory pools are backed by the financial strength of the property and casualty insurance industry) Tj ET Q q 0 0 0 rg BT 524.84 409.10 Td (. ) Tj ET Q q 0 0 0 rg BT 529.29 409.10 Td (Annuities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 397.10 Td (purchased from third-party life insurers under structured settlements are recognized as reinsurance recoverables in cases where the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 385.10 Td (Company has not obtained a release from the claimant. Of the remaining gross reinsurance recoverable as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.00 385.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.59 385.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 373.10 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 373.10 Td (, the following table shows the portion of recoverables due from companies rated by ) Tj ET Q q 0 0 0 rg BT 449.16 373.10 Td (A.M. Best:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 344.60 251.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 344.60 94.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 344.60 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 344.60 94.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 344.60 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 310.60 251.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 310.60 94.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 310.60 55.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 310.60 94.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 310.60 55.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 276.60 251.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 276.60 94.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 276.60 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 276.60 94.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 276.60 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 252.60 251.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 252.60 94.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 252.60 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 252.60 94.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 252.60 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 228.60 251.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 228.60 94.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 228.60 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 228.60 94.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 228.60 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 204.60 251.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 283.00 204.60 94.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 377.00 204.60 55.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 204.60 94.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 526.00 204.60 55.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 344.6 m 283 344.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 283 344.6 m 377 344.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 377 344.6 m 432 344.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432 344.6 m 526 344.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 526 344.6 m 581 344.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 310.6 m 283 310.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 283 310.6 m 377 310.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 377 310.6 m 432 310.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432 310.6 m 526 310.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 526 310.6 m 581 310.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 288.6 m 283 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 288.6 m 377 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 288.6 m 432 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 288.6 m 526 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 288.6 m 581 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 276.6 m 283 276.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 276.6 m 377 276.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 276.6 m 432 276.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 276.6 m 526 276.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 276.6 m 581 276.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 252.60000000000002 m 283 252.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 283 252.60000000000002 m 377 252.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 377 252.60000000000002 m 432 252.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432 252.60000000000002 m 526 252.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 526 252.60000000000002 m 581 252.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 204.60000000000002 m 283 204.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 283 204.60000000000002 m 377 204.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 377 204.60000000000002 m 432 204.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432 204.60000000000002 m 526 204.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 526 204.60000000000002 m 581 204.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 192.60000000000002 m 283 192.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 283 192.60000000000002 m 377 192.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 377 192.60000000000002 m 432 192.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 192.60000000000002 m 526 192.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 526 192.60000000000002 m 581 192.60000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 348.00 Td (Distribution of gross reinsurance recoverable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 319.35 348.00 Td ( 2013) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 379.50 347.86 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 468.35 348.00 Td ( 2012) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 528.50 347.86 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 335.22 Td (Gross reinsurance recoverable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.50 335.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.65 335.22 Td (2,979) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 335.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.65 335.22 Td (3,022) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 323.17 Td (Less: mandatory \(assigned risk\) pools and structured) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 313.22 Td (settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.80 315.32 Td (\(569) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.15 315.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.50 315.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.80 315.32 Td (\(588) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.15 315.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.50 315.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 301.33 Td (Gross reinsurance recoverable excluding mandatory) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 291.33 Td (pools and structured settlements) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 285.50 293.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.65 293.28 Td (2,410) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.50 293.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.50 293.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 499.65 293.28 Td (2,434) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.50 293.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 381.45 279.33 Td (% of Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 530.45 279.33 Td (% of Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 267.22 Td (Rated A- \(Excellent\) or better by A.M. Best [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.50 267.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.65 267.22 Td (1,558) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.00 267.22 Td (64.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 267.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 267.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.65 267.22 Td (1,691) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 267.22 Td (69.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 267.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 255.22 Td (Other rated by A.M. Best) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.15 255.22 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.00 255.22 Td (0.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 255.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 255.22 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 255.22 Td (0.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 255.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 243.22 Td (Total rated companies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.65 243.22 Td (1,562) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.00 243.22 Td (64.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 243.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.65 243.22 Td (1,697) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 243.22 Td (69.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 243.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 231.22 Td (Voluntary pools) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.15 231.22 Td (96) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.00 231.22 Td (4.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 231.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 231.22 Td (95) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 231.22 Td (3.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 231.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 219.22 Td (Captives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.15 219.22 Td (499) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.00 219.22 Td (20.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 219.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 219.22 Td (368) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 219.22 Td (15.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 219.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 207.22 Td (Other not rated companies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.15 207.22 Td (253) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.00 207.22 Td (10.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 207.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 207.22 Td (274) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 207.22 Td (11.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 207.22 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 195.33 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 285.50 195.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 350.65 195.33 Td (2,410) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.00 195.33 Td (100.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.50 195.33 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.50 195.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 499.65 195.33 Td (2,434) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.00 195.33 Td (100.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.50 195.33 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 176.30 Td ([1] Based on ) Tj ET Q q 0 0 0 rg BT 80.59 176.30 Td (A.M. Best ratings as of December31, 2013 and 2012, r) Tj ET Q q 0 0 0 rg BT 279.73 176.30 Td (espectively) Tj ET Q q 0 0 0 rg BT 318.71 176.30 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 158.30 Td (Where its contracts permit, the Company secures future claim obligations with various forms of collateral, including irrevocable letters ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 146.30 Td (of credit, secured trusts, funds held accounts and group wide of) Tj ET Q q 0 0 0 rg BT 284.58 146.30 Td (fsets. ) Tj ET Q q 0 0 0 rg BT 307.36 146.30 Td (As part of its reinsurance recoverable review) Tj ET Q q 0 0 0 rg BT 486.07 146.30 Td (, the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 134.30 Td (analyzes recent developments in commutation activity between reinsurers and cedants, recent trends in arbitration and litigation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 122.30 Td (outcomes in disputes between cedants and reinsurers and the overall credit quality of the Company) Tj ET Q q 0 0 0 rg BT 429.72 122.30 Td (s reinsurers. ) Tj ET Q q 0 0 0 rg BT 479.99 122.30 Td (As indicated in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 110.30 Td (above table, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.31 110.30 Td (64.6%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.14 110.30 Td ( of the gross reinsurance recoverables due from reinsurers rated by ) Tj ET Q q 0 0 0 rg BT 376.65 110.30 Td (A.M. Best were rated ) Tj ET Q q 0 0 0 rg BT 464.40 110.30 Td (A- \(excellent\)or better as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 98.30 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 98.30 Td (. Due to the inherent uncertainties as to collection and the length of time before such amounts will be due, it is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 86.30 Td (possible that future adjustments to the Company) Tj ET Q q 0 0 0 rg BT 227.58 86.30 Td (s reinsurance recoverables, net of the allowance, could be required, which could have a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 74.30 Td (material adverse ef) Tj ET Q q 0 0 0 rg BT 107.38 74.30 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 193.75 74.30 Td (s consolidated results of operations or cash flows in a particular quarterly or annual period.) Tj ET Q endstream endobj 189 0 obj <> endobj 190 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (94) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Annually) Tj ET Q q 0 0 0 rg BT 68.07 713.10 Td (, the Company completes evaluations of the reinsurance recoverable asset associated with older) Tj ET Q q 0 0 0 rg BT 449.47 713.10 Td (, long-term casualty liabilities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (reported in the Property & Casualty Other Operations reporting segment, and the allowance for uncollectible reinsurance reported in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (Property & Casualty Commercial reporting segment. For a discussion regarding the results of these evaluations, see Property and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (Casualty Insurance Product Reserves, Net of Reinsurance within the Critical ) Tj ET Q q 0 0 0 rg BT 339.47 677.10 Td (Accounting Estimates section of the MD&A.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 657.7669921875 m 227.525390625 657.7669921875 l s q 0 0 0 rg BT 31.50 659.10 Td (Life Insurance Product Reinsurance Recoverable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (Life insurance product reinsurance recoverables represent loss and loss adjustment expense recoverable from a number of reinsurers. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (The following table shows the components of the gross and net reinsurance recoverable as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.10 629.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.69 629.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.13 629.10 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 617.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 577.60 312.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 577.60 96.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 577.60 96.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 552.60 312.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 552.60 96.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 552.60 96.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 588.6 m 344 588.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344 588.6 m 440 588.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440 588.6 m 536 588.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 577.6 m 344 577.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344 577.6 m 440 577.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440 577.6 m 536 577.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 552.6 m 344 552.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344 552.6 m 440 552.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 440 552.6 m 536 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 540.6 m 344 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 540.6 m 440 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 540.6 m 536 540.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 592.00 Td (Reinsurance Recoverable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 381.35 592.00 Td ( 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.35 592.00 Td ( 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 579.22 Td (Unpaid loss and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 579.22 Td (20,595) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.65 579.22 Td (1,912) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 568.33 Td (Gross reinsurance recoverable) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.65 568.33 Td (20,595) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.65 568.33 Td (1,912) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 555.22 Td (Less: allowance for uncollectible reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.15 555.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.15 555.22 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 543.33 Td (Net reinsurance recoverable) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.50 543.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.65 543.33 Td (20,595) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.50 543.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.65 543.33 Td (1,912) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 505.10 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 505.10 Td (, the Company has reinsurance recoverables from MassMutual and Prudential of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.88 505.10 Td ($9.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.38 505.10 Td ( billion and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.43 505.10 Td ($9.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.93 505.10 Td ( billion, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 493.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 493.10 Td (. ) Tj ET Q q 0 0 0 rg BT 83.98 493.10 Td (These reinsurance recoverables are secured by invested assets held in trust for the benefit of the Company in the event of a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 481.10 Td (default by the reinsurers. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 132.86 481.10 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.88 481.10 Td (, the fair value of assets held in trust securing the reinsurance recoverables from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 469.10 Td (MassMutual and Prudential were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 166.47 469.10 Td ($9.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.97 469.10 Td ( billion and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.02 469.10 Td ($7.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.52 469.10 Td ( billion, respectively) Tj ET Q q 0 0 0 rg BT 330.80 469.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.25 469.10 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.27 469.10 Td (, the net reinsurance recoverable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 457.10 Td (from Prudential represents approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.34 457.10 Td (13%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 218.67 457.10 Td ( of the Company's consolidated stockholders' equity) Tj ET Q q 0 0 0 rg BT 426.03 457.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.98 457.10 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.01 457.10 Td (, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 445.10 Td (Company has no other reinsurance-related concentrations of credit risk greater than 10% of the Company) Tj ET Q q 0 0 0 rg BT 455.80 445.10 Td (s stockholders) Tj ET Q q 0 0 0 rg BT 515.32 445.10 Td ( equity) Tj ET Q q 0 0 0 rg BT 542.17 445.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 427.10 Td (Guaranty Funds and Other) Tj ET Q q 0 0 0 rg BT 148.84 427.10 Td ( Insurance ) Tj ET Q q 0 0 0 rg BT 196.08 427.10 Td (Assessments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 409.10 Td (As part of its risk management strategy) Tj ET Q q 0 0 0 rg BT 188.03 409.10 Td (, the Company regularly monitors the financial wherewithal of other insurers and, in particular) Tj ET Q q 0 0 0 rg BT 565.57 409.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 397.10 Td (activity by insurance regulators and various state guaranty associations relating to troubled insurers. In all states, insurers licensed to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 385.10 Td (transact certain classes of insurance are required to become members of a guaranty fund. In most states, in the event of the insolvency of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 373.10 Td (an insurer writing any such class of insurance in the state, members of the funds are assessed to pay certain claims of the insolvent ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 361.10 Td (insurer) Tj ET Q q 0 0 0 rg BT 58.72 361.10 Td (. ) Tj ET Q q 0 0 0 rg BT 63.17 361.10 Td (A) Tj ET Q q 0 0 0 rg BT 69.83 361.10 Td ( particular state's fund assesses its members based on their respective written premiums in the state for the classes of insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 349.10 Td (in which the insolvent insurer was engaged. ) Tj ET Q q 0 0 0 rg BT 208.68 349.10 Td (Assessments are generally limited for any year to one or two percent of the premiums ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 337.10 Td (written per year depending on the state. ) Tj ET Q q 0 0 0 rg BT 191.82 337.10 Td (The amount and timing of assessments related to past insolvencies is unpredictable.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 319.10 Td (Citizens Property Insurance Corporation in Florida \(Citizens\), a non-af) Tj ET Q q 0 0 0 rg BT 323.74 319.10 Td (filiate insurer) Tj ET Q q 0 0 0 rg BT 376.92 319.10 Td (, provides property insurance to Florida ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 307.10 Td (homeowners and businesses that are unable to obtain insurance from other carriers, including for properties deemed to be high risk. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 295.10 Td (Citizens maintains a Personal Lines account, a Commercial Lines account and a High Risk account. If Citizens incurs a deficit in any of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 283.10 Td (these accounts, Citizens may impose a regular assessment on other insurance carriers in the state, such as the Company) Tj ET Q q 0 0 0 rg BT 516.25 283.10 Td (, to fund the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 271.10 Td (deficits, subject to certain restrictions and subject to approval by the Florida Of) Tj ET Q q 0 0 0 rg BT 348.17 271.10 Td (fice of Insurance Regulation. Carriers are then permitted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 259.10 Td (to surchar) Tj ET Q q 0 0 0 rg BT 71.03 259.10 Td (ge policyholders to recover the assessments over the next few years. Citizens may also opt to finance a portion of the deficits ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 247.10 Td (through issuing bonds and may impose emer) Tj ET Q q 0 0 0 rg BT 214.63 247.10 Td (gency assessments on other insurance carriers to fund the bond repayments. Unlike with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 235.10 Td (regular assessments, however) Tj ET Q q 0 0 0 rg BT 149.67 235.10 Td (, insurance carriers only serve as a collection agent for emer) Tj ET Q q 0 0 0 rg BT 389.66 235.10 Td (gency assessments and are not required to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 223.10 Td (remit surchar) Tj ET Q q 0 0 0 rg BT 84.35 223.10 Td (ges for emer) Tj ET Q q 0 0 0 rg BT 134.15 223.10 Td (gency assessments to Citizens until they collect surchar) Tj ET Q q 0 0 0 rg BT 355.86 223.10 Td (ges from policyholders. Under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 526.95 223.10 Td (, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 211.10 Td (Company is required to accrue for regular assessments in the period the assessments become probable and estimable and the obligating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 199.10 Td (event has occurred. Surchar) Tj ET Q q 0 0 0 rg BT 142.38 199.10 Td (ges to recover the amount of regular assessments may not be recorded as an asset until the related premium is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 187.10 Td (written. Emer) Tj ET Q q 0 0 0 rg BT 86.30 187.10 Td (gency assessments that may be levied by Citizens are not recorded in the income statement.) Tj ET Q endstream endobj 191 0 obj <> endobj 192 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (95) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Operational Risk Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 692.25 Td (The Hartford has an Operational Risk Management \(ORM\) function whose responsibility is to provide a comprehensive and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 680.25 Td (enterprise-wide view of the Company's operational risk on an aggregate basis. ) Tj ET Q q 0 0 0 rg BT 356.36 680.25 Td (The Company defines operational risk as the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 668.25 Td (risk of loss resulting from inadequate or failed internal processes, people and systems, or from external events. Operational risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 656.25 Td (is inherent in our business and functional areas. It includes legal risk and considers reputational risk as an impact. ) Tj ET Q q 0 0 0 rg BT 497.58 656.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 644.25 Td (Company has developed a library of operational risks which have been classified into the following seven risk categories:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.50 623.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 623.25 Td (Internal Fraud) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.50 611.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 611.25 Td (External Fraud) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.50 599.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 599.25 Td (Employment Practices & ) Tj ET Q q 0 0 0 rg BT 170.35 599.25 Td (W) Tj ET Q q 0 0 0 rg BT 178.99 599.25 Td (orkplace Safety) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.50 587.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 587.25 Td (Business Disruption & Systems Failures) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.50 575.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 575.25 Td (Clients, Products & Business Practices) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.50 563.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 563.25 Td (Damage to Physical ) Tj ET Q q 0 0 0 rg BT 149.43 563.25 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.50 551.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 551.25 Td (Execution, Delivery & Process Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 527.50 Td (ORM is responsible for establishing, maintaining and communicating the framework, principles and guidelines of ) Tj ET Q q 0 0 0 rg BT 499.56 527.50 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 515.50 Td (Hartford's operational risk management program. In addition, ORM also manages business continuity) Tj ET Q q 0 0 0 rg BT 447.84 515.50 Td (, model risk management, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 503.50 Td (the ORM system, and risk assessments. Responsibility for day-to-day management of operational risk lies within each business ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 491.50 Td (unit and functional area.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 473.95 Td (ORM works closely with the Operational Risk Committee \(ORC\), an enterprise wide governance comprised of senior leaders ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 461.95 Td (from functional areas such as ORM, Enterprise Business Services, Claims, Legal, Compliance, Finance and Internal ) Tj ET Q q 0 0 0 rg BT 508.05 461.95 Td (Audit. ) Tj ET Q q 0 0 0 rg BT 535.65 461.95 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 449.95 Td (ORC meets regularly and provides a forum for ensuring the ef) Tj ET Q q 0 0 0 rg BT 290.14 449.95 Td (fective management of operational risks across the enterprise. ) Tj ET Q q 0 0 0 rg BT 539.58 449.95 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 437.95 Td (ORC's responsibilities include reviewing and approving: policies governing operational risk, key risk indicators and limits, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 425.95 Td (risk mitigation strategies. ) Tj ET Q q 0 0 0 rg BT 145.19 425.95 Td (This group also identifies emer) Tj ET Q q 0 0 0 rg BT 269.42 425.95 Td (ging operational risks, prioritizes them, and ensures appropriate action ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 413.95 Td (plans are in place. Individual committees, such as the Enterprise Privacy and Security Committee, and the Enterprise Health, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 401.95 Td (Environment and Safety Committee focus on specific operational risk issues and report to the ORC. Model Oversight ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 389.95 Td (Committees have been established to oversee and govern model risk.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 372.20 Td (ORM has various tools and processes for identifying, monitoring, measuring, prioritizing, and reporting operational risks. ORM ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 360.20 Td (facilitates loss event collection and analysis, risk assessments, scenario analysis, and reporting of key risk indicators and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 348.20 Td (aggregated risks. ORM uses a centralized Governance, Risk, and Compliance \(GRC\) system to help manage operational risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 336.20 Td (across the Company's finance, legal, compliance, data security) Tj ET Q q 0 0 0 rg BT 290.89 336.20 Td (, and information technology functions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 318.55 Td (The Company's business risk assessment process is used to identify the top risks in the business and functional areas, evaluate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 306.55 Td (controls to mitigate those risks, and monitor control improvements.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 276.55 Td (Financial Risk Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 258.55 Td (The Company identifies the following categories of financial risk:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 240.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 240.55 Td (Liquidity Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 228.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 228.55 Td (Interest Rate Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 216.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 216.55 Td (Equity Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 204.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 204.55 Td (Foreign Currency Exchange Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 192.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 192.55 Td (Credit Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 168.55 Td (Financial risks include direct and indirect risks to the Company's financial objectives coming from events that impact market conditions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 156.55 Td (or prices. Financial risk also includes exposure to events that may cause correlated movement in multiple risk factors. ) Tj ET Q q 0 0 0 rg BT 504.51 156.55 Td (The primary ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 144.55 Td (source of financial risks are the Company's general account assets and the liabilities which those assets back, together with the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 132.55 Td (guarantees which the company has written over various liability products, particularly its portfolio of variable annuities. ) Tj ET Q q 0 0 0 rg BT 513.96 132.55 Td (The Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 120.55 Td (assesses its financial risk on a U.S. GAAP) Tj ET Q q 0 0 0 rg BT 199.54 120.55 Td (, statutory and economic basis. ) Tj ET Q q 0 0 0 rg BT 325.17 120.55 Td (The Hartford has developed a disciplined approach to financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 108.55 Td (risk management that is well integrated into the Company's underwriting, pricing, hedging, claims, asset and liability management, new ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 96.55 Td (product, and capital management processes. Consistent with its risk appetite, the Company establishes financial risk limits to control ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 84.55 Td (potential loss. Exposures are actively monitored, and mitigated where appropriate. ) Tj ET Q q 0 0 0 rg BT 363.16 84.55 Td (The Company uses various risk management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 72.55 Td (strategies, including reinsurance and over) Tj ET Q q 0 0 0 rg BT 197.63 72.55 Td (-the-counter and exchange traded derivatives to transfer risk to well-established and financially ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 60.55 Td (secure counterparties. ) Tj ET Q endstream endobj 193 0 obj <> endobj 194 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (96) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Liquidity Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Liquidity risk is the risk to current or prospective earnings or capital arising from the company's inability or perceived inability to meet ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (its contractual cash obligations at the legal entity level when they come due over given horizons without incurring unacceptable costs ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (and without relying on uncommitted funding sources. Liquidity risk includes the inability to manage unplanned increases or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (accelerations in cash outflows, decreases or changes in funding sources, and changes in market conditions that af) Tj ET Q q 0 0 0 rg BT 483.39 659.25 Td (fect the ability to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (liquidate assets quickly to meet obligations with minimal loss in value. Components of liquidity risk include funding risk, transaction ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (risk and market liquidity risk. Funding risk is the gap between sources and uses of cash under normal and stressed conditions taking into ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (consideration structural, regulatory and legal entity constraints. Changes in institution-specific conditions that af) Tj ET Q q 0 0 0 rg BT 480.65 623.25 Td (fect the Company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (ability to sell assets or otherwise transact business without incurring a significant loss in value is transaction risk. Changes in general ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (market conditions that af) Tj ET Q q 0 0 0 rg BT 131.01 599.25 Td (fect the institution's ability to sell assets or otherwise transact business without incurring a significant loss in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (value is market liquidity risk.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (The Company has defined ongoing monitoring and reporting requirements to assess liquidity across the enterprise. ) Tj ET Q q 0 0 0 rg BT 492.33 569.25 Td (The Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (measures and manages liquidity risk exposures and funding needs within prescribed limits and across legal entities, business lines and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (currencies, taking into account legal, regulatory and operational limitations to the transferability of liquidity) Tj ET Q q 0 0 0 rg BT 462.11 545.25 Td (. ) Tj ET Q q 0 0 0 rg BT 466.93 545.25 Td (The Company also ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (monitors internal and external conditions, identifies material risk changes and emer) Tj ET Q q 0 0 0 rg BT 364.83 533.25 Td (ging risks that may impact liquidity) Tj ET Q q 0 0 0 rg BT 506.66 533.25 Td (. ) Tj ET Q q 0 0 0 rg BT 511.48 533.25 Td (The Company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (CFO has primary responsibility for liquidity risk.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (For further discussion on liquidity see the section on Capital Resources and Liquidity) Tj ET Q q 0 0 0 rg BT 372.46 503.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 485.25 Td (Inter) Tj ET Q q 0 0 0 rg BT 52.98 485.25 Td (est Rate Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.25 Td (Interest rate risk is the risk of financial loss due to adverse changes in the value of assets and liabilities arising from movements in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.25 Td (interest rates. Interest rate risk encompasses exposures with respect to changes in the level of interest rates, the shape of the term ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (structure of rates and the volatility of interest rates. Interest rate risk does not include exposure to changes in credit spreads. ) Tj ET Q q 0 0 0 rg BT 527.54 443.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.25 Td (Company has exposure to interest rates arising from its fixed maturity securities, interest sensitive liabilities and discount rate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (assumptions associated with the Company) Tj ET Q q 0 0 0 rg BT 203.70 419.25 Td (s pension and other post retirement benefit obligations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (An increase in interest rates from current levels is generally a favorable development for the Company) Tj ET Q q 0 0 0 rg BT 440.97 401.25 Td (. Interest rate increases are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (expected to provide additional net investment income, reduce the cost of the variable annuity hedging program, limit the potential risk of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.25 Td (mar) Tj ET Q q 0 0 0 rg BT 46.87 377.25 Td (gin erosion due to minimum guaranteed crediting rates in certain ) Tj ET Q q 0 0 0 rg BT 308.27 377.25 Td (T) Tj ET Q q 0 0 0 rg BT 313.68 377.25 Td (alcott Resolution products and, if sustained, could reduce the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (Company) Tj ET Q q 0 0 0 rg BT 73.17 365.25 Td (s prospective pension expense. Conversely) Tj ET Q q 0 0 0 rg BT 243.86 365.25 Td (, a rise in interest rates will reduce the fair value of the investment portfolio and if ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.25 Td (long-term interest rates rise dramatically within a six to twelve month time period, certain ) Tj ET Q q 0 0 0 rg BT 393.16 353.25 Td (T) Tj ET Q q 0 0 0 rg BT 398.57 353.25 Td (alcott Resolution businesses may be exposed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.25 Td (to disintermediation risk. Disintermediation risk refers to the risk that policyholders will surrender their contracts in a rising interest rate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.25 Td (environment requiring the Company to liquidate assets in an unrealized loss position. In conjunction with the interest rate risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.25 Td (measurement and management techniques, certain of ) Tj ET Q q 0 0 0 rg BT 245.95 317.25 Td (T) Tj ET Q q 0 0 0 rg BT 251.36 317.25 Td (alcott Resolution's fixed income product of) Tj ET Q q 0 0 0 rg BT 423.78 317.25 Td (ferings have market value adjustment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.25 Td (provisions at contract surrender) Tj ET Q q 0 0 0 rg BT 157.30 305.25 Td (. ) Tj ET Q q 0 0 0 rg BT 161.74 305.25 Td (An increase in interest rates may also impact the Company) Tj ET Q q 0 0 0 rg BT 399.73 305.25 Td (s tax planning strategies and in particular its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.25 Td (ability to utilize tax benefits to of) Tj ET Q q 0 0 0 rg BT 164.62 293.25 Td (fset certain previously recognized realized capital losses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 275.25 Td ( decline in interest rates results in certain mortgage-backed and municipal securities being more susceptible to paydowns and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.25 Td (prepayments or calls. During such periods, the Company generally will not be able to reinvest the proceeds at comparable yields. Lower ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.25 Td (interest rates will also likely result in lower net investment income, increased hedging cost associated with variable annuities and, if ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.25 Td (declines are sustained for a long period of time, it may subject the Company to reinvestment risk, higher pension costs expense and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.25 Td (possibly reduced profit mar) Tj ET Q q 0 0 0 rg BT 141.57 227.25 Td (gins associated with guaranteed crediting rates on certain ) Tj ET Q q 0 0 0 rg BT 372.41 227.25 Td (T) Tj ET Q q 0 0 0 rg BT 377.82 227.25 Td (alcott Resolution products. Conversely) Tj ET Q q 0 0 0 rg BT 532.71 227.25 Td (, the fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (value of the investment portfolio will increase when interest rates decline and the Company) Tj ET Q q 0 0 0 rg BT 400.55 215.25 Td (s interest expense will be lower on its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.25 Td (variable rate debt obligations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.25 Td (The Company manages its exposure to interest rate risk by constructing investment portfolios that maintain asset allocation limits and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (asset/liability duration matching tar) Tj ET Q q 0 0 0 rg BT 173.23 173.25 Td (gets which may include the use of derivatives. ) Tj ET Q q 0 0 0 rg BT 360.49 173.25 Td (The Company analyzes interest rate risk using various ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.25 Td (models including parametric models and cash flow simulation under various market scenarios of the liabilities and their supporting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.25 Td (investment portfolios, which may include derivative instruments. Measures the Company uses to quantify its exposure to interest rate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.25 Td (risk inherent in its invested assets and interest rate sensitive liabilities include duration, convexity and key rate duration. Duration is the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.25 Td (price sensitivity of a financial instrument or series of cash flows to a parallel change in the underlying yield curve used to value the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.25 Td (financial instrument or series of cash flows. For example, a duration of 5 means the price of the security will change by approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.25 Td (5% for a 100 basis point change in interest rates. Convexity is used to approximate how the duration of a security changes as interest ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.25 Td (rates change in a parallel manner) Tj ET Q q 0 0 0 rg BT 162.82 89.25 Td (. Key rate duration analysis measures the price sensitivity of a security or series of cash flows to each ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 77.25 Td (point along the yield curve and enables the Company to estimate the price change of a security assuming non-parallel interest rate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 65.25 Td (movements.) Tj ET Q endstream endobj 195 0 obj <> endobj 196 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (97) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 713.10 Td (o calculate duration, convexity) Tj ET Q q 0 0 0 rg BT 159.55 713.10 Td (, and key rate durations, projections of asset and liability cash flows are discounted to a present value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (using interest rate assumptions. ) Tj ET Q q 0 0 0 rg BT 159.36 701.10 Td (These cash flows are then revalued at alternative interest rate levels to determine the percentage change ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (in fair value due to an incremental change in the entire yield curve for duration and convexity) Tj ET Q q 0 0 0 rg BT 405.15 689.10 Td (, or a particular point on the yield curve for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (key rate duration. Cash flows from corporate obligations are assumed to be consistent with the contractual payment streams on a yield to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (worst basis. ) Tj ET Q q 0 0 0 rg BT 80.85 665.10 Td (Y) Tj ET Q q 0 0 0 rg BT 87.52 665.10 Td (ield to worst is a basis that represents the lowest potential yield that can be received without the issuer actually defaulting. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (The primary assumptions used in calculating cash flow projections include expected asset payment streams taking into account ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (prepayment speeds, issuer call options and contract holder behavior) Tj ET Q q 0 0 0 rg BT 301.70 641.10 Td (. Mortgage-backed and asset-backed securities are modeled based on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (estimates of the rate of future prepayments of principal over the remaining life of the securities. ) Tj ET Q q 0 0 0 rg BT 415.90 629.10 Td (These estimates are developed by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (incorporating collateral surveillance and anticipated future market dynamics. ) Tj ET Q q 0 0 0 rg BT 341.10 617.10 Td (Actual prepayment experience may vary from these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (estimates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (The Company is also exposed to interest rate risk based upon the discount rate assumption associated with the Company) Tj ET Q q 0 0 0 rg BT 515.85 587.10 Td (s pension and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (other postretirement benefit obligations. ) Tj ET Q q 0 0 0 rg BT 194.33 575.10 Td (The discount rate assumption is based upon an interest rate yield curve comprised of bonds ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (rated ) Tj ET Q q 0 0 0 rg BT 53.43 563.10 Td (AA) Tj ET Q q 0 0 0 rg BT 67.33 563.10 Td ( with maturities primarily between zero and thirty years. For further discussion of discounting pension and other postretirement ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (benefit obligations, refer to Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.79 551.10 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.79 551.10 Td ( - Employee Benefit Plans of Notes to Consolidated Financial Statements. In addition, management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (evaluates performance of certain ) Tj ET Q q 0 0 0 rg BT 164.58 539.10 Td (T) Tj ET Q q 0 0 0 rg BT 169.99 539.10 Td (alcott Resolution products based on net investment spread which is, in part, influenced by changes in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (interest rates. For further discussion, see the ) Tj ET Q q 0 0 0 rg BT 209.88 527.10 Td (T) Tj ET Q q 0 0 0 rg BT 215.29 527.10 Td (alcott Resolution section of the MD&A.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (The investments and liabilities primarily associated with interest rate risk are included in the following discussion. Certain product ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (liabilities, including those containing GMWB, GMIB, GMAB, or GMDB, expose the Company to interest rate risk but also have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (significant equity risk. ) Tj ET Q q 0 0 0 rg BT 123.53 485.10 Td (These liabilities are discussed as part of the Equity Risk section below) Tj ET Q q 0 0 0 rg BT 404.20 485.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 467.10 Td (Fixed Maturity Investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 449.10 Td (s investment portfolios primarily consist of investment grade fixed maturity securities. ) Tj ET Q q 0 0 0 rg BT 439.29 449.10 Td (The fair value of these investments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.55 437.10 Td ($63.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.67 437.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.10 437.10 Td ($87.0 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.22 437.10 Td ( at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.43 437.10 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.93 437.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.37 437.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.37 437.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 298.03 437.10 Td (. ) Tj ET Q q 0 0 0 rg BT 302.85 437.10 Td (The fair value of these and other invested assets fluctuates depending ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (on the interest rate environment and other general economic conditions. ) Tj ET Q q 0 0 0 rg BT 320.94 425.10 Td (The weighted average duration of the portfolio, including fixed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (maturities, commercial mortgage loans, derivatives, and cash equivalents, was approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.49 413.10 Td (5.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.99 413.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.43 413.10 Td (5.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.93 413.10 Td (years as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.69 413.10 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.19 413.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.63 413.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.63 413.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 401.10 Td (. ) Tj ET Q q 0 0 0 rg BT 86.11 401.10 Td (As of December 31, 2012, the weighted average duration of the portfolio, excluding the Retirement Plans and Individual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.10 Td (Life businesses, was approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.19 389.10 Td (5.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.69 389.10 Td ( years.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (Liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 353.10 Td (s investment contracts and certain insurance product liabilities, other than non-guaranteed separate accounts, include asset ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (accumulation vehicles such as fixed annuities, guaranteed investment contracts, other investment and universal life-type contracts and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (certain insurance products such as long-term disability) Tj ET Q q 0 0 0 rg BT 249.12 329.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (Asset accumulation vehicles primarily require a fixed rate payment, often for a specified period of time, such as fixed rate annuities with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.10 Td (a market value adjustment feature. ) Tj ET Q q 0 0 0 rg BT 171.81 299.10 Td (The term to maturity of these contracts generally range from less than one year to ten years. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.10 Td (addition, certain products such as corporate owned life insurance contracts and the general account portion of ) Tj ET Q q 0 0 0 rg BT 471.43 287.10 Td (T) Tj ET Q q 0 0 0 rg BT 476.84 287.10 Td (alcott Resolutions) Tj ET Q q 0 0 0 rg BT 551.56 287.10 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (variable annuity products, credit interest to policyholders subject to market conditions and minimum interest rate guarantees. ) Tj ET Q q 0 0 0 rg BT 533.40 275.10 Td (The term to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.10 Td (maturity of the asset portfolio supporting these products may range from short to intermediate.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.10 Td (While interest rate risk associated with many of these products has been reduced through the use of market value adjustment features and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.10 Td (surrender char) Tj ET Q q 0 0 0 rg BT 88.79 233.10 Td (ges, the primary risk associated with these products is that the spread between investment return and credited rate may not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.10 Td (be suf) Tj ET Q q 0 0 0 rg BT 55.48 221.10 Td (ficient to earn tar) Tj ET Q q 0 0 0 rg BT 123.87 221.10 Td (geted returns.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.10 Td (The Company also manages the risk of certain insurance liabilities similarly to investment type products due to the relative predictability ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.10 Td (of the aggregate cash flow payment streams. Products in this category may contain significant reliance upon actuarial \(including ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.10 Td (mortality and morbidity\) pricing assumptions and do have some element of cash flow uncertainty) Tj ET Q q 0 0 0 rg BT 420.48 179.10 Td (. Product examples include structured ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.10 Td (settlement contracts, on-benefit annuities \(i.e., the annuitant is currently receiving benefits thereon\) and short-term and long-term ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.10 Td (disability contracts. ) Tj ET Q q 0 0 0 rg BT 112.13 155.10 Td (The cash outflows associated with these policy liabilities are not interest rate sensitive but do vary based on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.10 Td (timing and amount of benefit payments. ) Tj ET Q q 0 0 0 rg BT 193.79 143.10 Td (The primary risks associated with these products are that the benefits will exceed expected ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.10 Td (actuarial pricing and/or that the actual timing of the cash flows will dif) Tj ET Q q 0 0 0 rg BT 314.01 131.10 Td (fer from those anticipated, or interest rate levels may deviate from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 119.10 Td (those assumed in product pricing, ultimately resulting in an investment return lower than that assumed in pricing. ) Tj ET Q q 0 0 0 rg BT 487.06 119.10 Td (The average duration ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 107.10 Td (of the liability cash flow payments can range from less than one year to in excess of fifteen years.) Tj ET Q endstream endobj 197 0 obj <> endobj 198 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (98) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The Company utilizes a variety of derivative instruments to mitigate interest rate risk associated with its investment portfolio or hedge ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (liabilities. Interest rate swaps are primarily used to convert interest receipts or payments to a fixed or variable rate. ) Tj ET Q q 0 0 0 rg BT 491.43 683.10 Td (The use of such ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (swaps enables the Company to customize contract terms and conditions to desired objectives and manage the interest rate risk profile ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (within established tolerances. Interest rate swaps are also used to hedge the variability in the cash flow of a forecasted purchase or sale ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (of fixed rate securities due to changes in interest rates. Interest rate caps, floors, swaps, swaptions, and futures may be used to manage ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (portfolio duration.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (At ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 44.00 617.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 122.58 617.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 142.02 617.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 162.02 617.10 Td ( notional amounts pertaining to derivatives utilized to manage interest rate risk totaled $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.87 617.10 Td (15.3 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.98 617.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.50 605.10 Td (23.9 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.61 605.10 Td (, respectively \($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 146.75 605.10 Td (15.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.87 605.10 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.31 605.10 Td (23.7 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.42 605.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 316.08 605.10 Td (, related to investments and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.27 605.10 Td (0.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.39 605.10 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.82 605.10 Td (0.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.94 605.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 593.10 Td (, related to ) Tj ET Q q 0 0 0 rg BT 123.96 593.10 Td (T) Tj ET Q q 0 0 0 rg BT 129.37 593.10 Td (alcott Resolution liabilities\). ) Tj ET Q q 0 0 0 rg BT 245.28 593.10 Td (The fair value of these derivatives was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.16 593.10 Td (\(603\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.82 593.10 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.26 593.10 Td (\(281\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.92 593.10 Td ( as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.08 593.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.67 593.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 48.44 581.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.44 581.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 121.10 581.10 Td (. ) Tj ET Q q 0 0 0 rg BT 128.42 581.10 Td (The decline in notional amounts related to investments of $8.6 billion primarily relates to the termination of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (interest rate swaptions designed to hedge the interest rate risk of the securities that were transferred related to the sale of the Retirement ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (Plan business segment. ) Tj ET Q q 0 0 0 rg BT 126.31 557.10 Td (These amounts do not include derivatives associated with the ) Tj ET Q q 0 0 0 rg BT 373.57 557.10 Td (V) Tj ET Q q 0 0 0 rg BT 379.68 557.10 Td (ariable ) Tj ET Q q 0 0 0 rg BT 408.83 557.10 Td (Annuity Hedging Program. For further ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (information, see the ) Tj ET Q q 0 0 0 rg BT 113.52 545.10 Td (V) Tj ET Q q 0 0 0 rg BT 119.63 545.10 Td (ariable Product Guarantee Risks and Risk Management section. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 50.57 527.10 Td (est Rate Sensitivity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (Included in the following table is the before-tax change in the net economic value of investment contracts \(e.g., fixed annuity contracts\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (issued by the Company) Tj ET Q q 0 0 0 rg BT 127.88 497.10 Td (s ) Tj ET Q q 0 0 0 rg BT 134.09 497.10 Td (T) Tj ET Q q 0 0 0 rg BT 139.50 497.10 Td (alcott Resolution segment, as well as certain insurance product liabilities \(e.g., disability contracts\) issued by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 87.88 485.10 Td (s Group Benefits segment, for which the payment rates are fixed at contract issuance and the investment experience is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (substantially absorbed by the Company) Tj ET Q q 0 0 0 rg BT 192.03 473.10 Td (s operations, along with the corresponding invested assets. ) Tj ET Q q 0 0 0 rg BT 428.10 473.10 Td (Also included in this analysis are the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (interest rate sensitive derivatives used by the Company to hedge its exposure to interest rate risk in the investment portfolios supporting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (these contracts. ) Tj ET Q q 0 0 0 rg BT 95.46 449.10 Td (This analysis does not include the assets and corresponding liabilities of certain insurance products such as auto, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (property) Tj ET Q q 0 0 0 rg BT 64.73 437.10 Td (, whole and term life insurance, and certain life contingent annuities. Certain financial instruments, such as limited partnerships ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (and other alternative investments, have been omitted from the analysis due to the fact that the investments generally lack sensitivity to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (interest rate changes. Separate account assets and liabilities, equity securities, trading and the corresponding liabilities associated with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (the variable annuity products sold in Japan are excluded from the analysis because gains and losses in separate accounts accrue to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.10 Td (policyholders. ) Tj ET Q q 0 0 0 rg BT 90.75 389.10 Td (The calculation of the estimated hypothetical change in net economic value below assumes a 100 basis point upward and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.10 Td (downward parallel shift in the yield curve.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 333.60 235.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 333.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 333.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 381.00 333.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 333.60 57.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267 346.6 m 324 346.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 324 346.6 m 381 346.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381 346.6 m 438 346.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 438 346.6 m 495 346.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 333.6 m 267 333.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267 333.6 m 324 333.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 324 333.6 m 381 333.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381 333.6 m 438 333.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 438 333.6 m 495 333.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 318.6 m 267 318.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267 318.6 m 324 318.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 324 318.6 m 381 318.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381 318.6 m 438 318.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 438 318.6 m 495 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 304.6 m 267 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 304.6 m 324 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 304.6 m 381 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 304.6 m 438 304.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 438 304.6 m 495 304.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 351.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 283.70 351.05 Td (Change in Net Economic Value as of December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 337.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 314.50 338.00 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.50 338.00 Td (2012) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 34.50 323.31 Td (Basis point shift) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.80 323.32 Td (-100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.85 323.27 Td (+100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 323.27 Td (-100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.85 323.27 Td (+100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 309.17 Td (Increase \(decrease\) in economic value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 309.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.80 309.22 Td (\(245) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.15 309.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.50 309.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.15 309.17 Td (128) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.50 309.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.80 309.22 Td (\(294) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.15 309.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.50 309.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 309.17 Td (135) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 290.10 Td (The fixed liabilities included above represented approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.46 290.10 Td (41%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.79 290.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.23 290.10 Td (43%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.56 290.10 Td ( of the Company) Tj ET Q q 0 0 0 rg BT 410.27 290.10 Td (s general account liabilities as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.56 290.10 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.06 290.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 278.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 48.44 278.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.44 278.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 121.10 278.10 Td (. ) Tj ET Q q 0 0 0 rg BT 125.92 278.10 Td (The assets supporting the fixed liabilities are monitored and managed within set duration guidelines, and are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 266.10 Td (evaluated on a daily basis, as well as annually using scenario simulation techniques in compliance with regulatory requirements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 248.10 Td (The following table provides an analysis showing the estimated before-tax change in the fair value of the Company) Tj ET Q q 0 0 0 rg BT 495.53 248.10 Td (s fixed maturity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 236.10 Td (investments and related derivatives, not included in the table above, assuming 100 basis point upward and downward parallel shifts in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 224.10 Td (the yield curve as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.08 224.10 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 137.58 224.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 157.02 224.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.02 224.10 Td (. Certain financial instruments, such as limited partnerships and other alternative investments, have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 212.10 Td (been omitted from the analysis due to the fact that the investments are accounted for under the equity method and generally lack ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 200.10 Td (sensitivity to interest rate changes. ) Tj ET Q q 0 0 0 rg BT 174.34 200.10 Td (The decline in the estimated change in fair value assuming a 100 basis point shift since ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.80 200.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.80 200.10 Td ( is due ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 188.10 Td (to the sales of the Retirement Plans and Individual Life businesses in January of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.21 188.10 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.71 188.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 145.60 235.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 145.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 326.00 145.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 385.00 145.60 59.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 145.60 59.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267 158.60000000000002 m 326 158.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 326 158.60000000000002 m 385 158.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 385 158.60000000000002 m 444 158.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 444 158.60000000000002 m 503 158.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 145.60000000000002 m 267 145.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267 145.60000000000002 m 326 145.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 326 145.60000000000002 m 385 145.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 385 145.60000000000002 m 444 145.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 444 145.60000000000002 m 503 145.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 130.60000000000002 m 267 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267 130.60000000000002 m 326 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 326 130.60000000000002 m 385 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 385 130.60000000000002 m 444 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 444 130.60000000000002 m 503 130.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 116.60000000000002 m 267 116.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 116.60000000000002 m 326 116.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 116.60000000000002 m 385 116.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 385 116.60000000000002 m 444 116.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 116.60000000000002 m 503 116.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 162.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.40 163.00 Td (Change in Fair Value as of December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 149.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 316.50 150.00 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.50 150.00 Td (2012) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 34.50 135.31 Td (Basis point shift) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.80 135.32 Td (-100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.50 135.27 Td (+100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.15 135.27 Td (-100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.85 135.27 Td (+100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 121.17 Td (Increase \(decrease\) in fair value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 121.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.65 121.17 Td (2,297) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.50 121.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.30 121.22 Td (\(2,190) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.15 121.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.50 121.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.65 121.17 Td (3,406) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.50 121.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.30 121.22 Td (\(3,357) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.15 121.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 102.10 Td (The selection of the 100 basis point parallel shift in the yield curve was made only as an illustration of the potential hypothetical impact ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 90.10 Td (of such an event and should not be construed as a prediction of future market events. ) Tj ET Q q 0 0 0 rg BT 372.23 90.10 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 465.64 90.10 Td (fer materially from those ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 78.10 Td (illustrated above due to the nature of the estimates and assumptions used in the above analysis. ) Tj ET Q q 0 0 0 rg BT 413.17 78.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 472.88 78.10 Td (s sensitivity analysis ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 66.10 Td (calculation assumes that the composition of invested assets and liabilities remain materially consistent throughout the year and that the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 54.10 Td (current relationship between short-term and long-term interest rates will remain constant over time. ) Tj ET Q q 0 0 0 rg BT 430.82 54.10 Td (As a result, these calculations may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 42.10 Td (not fully capture the impact of portfolio re-allocations, significant product sales or non-parallel changes in interest rates.) Tj ET Q endstream endobj 199 0 obj <> endobj 200 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.00 20.10 Td (99) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Equity Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Equity risk is defined as the risk of financial loss due to changes in the value of global equities or equity indices. ) Tj ET Q q 0 0 0 rg BT 483.71 695.25 Td (The Company has ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (exposure to equity risk from assets under management, embedded derivatives within the Company) Tj ET Q q 0 0 0 rg BT 428.90 683.25 Td (s variable annuities and assets that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (support the Company) Tj ET Q q 0 0 0 rg BT 120.38 671.25 Td (s pension plans. Equity Risk on the Company) Tj ET Q q 0 0 0 rg BT 305.38 671.25 Td (s ) Tj ET Q q 0 0 0 rg BT 311.59 671.25 Td (V) Tj ET Q q 0 0 0 rg BT 317.70 671.25 Td (ariable ) Tj ET Q q 0 0 0 rg BT 346.85 671.25 Td (Annuity products is mitigated through various hedging ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (programs. \(See the ) Tj ET Q q 0 0 0 rg BT 109.07 659.25 Td (V) Tj ET Q q 0 0 0 rg BT 115.19 659.25 Td (ariable ) Tj ET Q q 0 0 0 rg BT 144.34 659.25 Td (Annuity Hedge Program Section\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (The Company's exposure to equity risk includes the potential for lower earnings associated with certain businesses such as mutual funds ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (and variable annuities where fee income is earned based upon the value of the assets under management. For further discussion of equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (risk, see the ) Tj ET Q q 0 0 0 rg BT 81.30 617.25 Td (V) Tj ET Q q 0 0 0 rg BT 87.42 617.25 Td (ariable Product Guarantee Risks and Risk Management section below) Tj ET Q q 0 0 0 rg BT 366.14 617.25 Td (. In addition, ) Tj ET Q q 0 0 0 rg BT 419.56 617.25 Td (T) Tj ET Q q 0 0 0 rg BT 424.97 617.25 Td (alcott Resolution includes certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (guaranteed benefits, primarily associated with variable annuity products, which increase the Company's potential benefit exposure as the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (equity markets decline.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (The Company is also subject to equity risk based upon the assets that support its pension plans. ) Tj ET Q q 0 0 0 rg BT 414.61 569.25 Td (The asset allocation mix is reviewed on a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (periodic basis. In order to minimize risk, the pension plans maintain a listing of permissible and prohibited investments. In addition, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (pension plans have certain concentration limits and investment quality requirements imposed on permissible investment options. For ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (further discussion of equity risk associated with the pension plans, see the Critical ) Tj ET Q q 0 0 0 rg BT 361.43 533.25 Td (Accounting Estimates section of the MD&A) Tj ET Q q 0 0 0 rg BT 538.90 533.25 Td ( under ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (Pension and Other Postretirement Benefit Obligations and Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.55 521.25 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.55 521.25 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (V) Tj ET Q q 0 0 0 rg BT 37.80 503.25 Td (ariable Pr) Tj ET Q q 0 0 0 rg BT 80.67 503.25 Td (oduct Guarantee Risks and Risk Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 485.25 Td (s variable products are significantly influenced by the U.S., Japanese, and other equity markets. Increases or declines in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (equity markets impact certain assets and liabilities related to the Company) Tj ET Q q 0 0 0 rg BT 331.41 473.25 Td (s variable products and the Company) Tj ET Q q 0 0 0 rg BT 482.76 473.25 Td (s earnings derived from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (those products. ) Tj ET Q q 0 0 0 rg BT 96.87 461.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 156.58 461.25 Td (s variable products currently include variable annuity contracts and mutual funds. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (Generally) Tj ET Q q 0 0 0 rg BT 70.27 443.25 Td (, declines in equity markets will:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 425.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 425.25 Td (reduce the value of assets under management and the amount of fee income generated from those assets;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 407.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 407.25 Td (reduce the value of equity securities trading supporting the international variable annuities, the related policyholder funds and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 395.25 Td (benefits payable, and the amount of fee income generated from those variable annuities;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 377.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 377.25 Td (increase the liability for GMWB benefits resulting in realized capital losses;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 359.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 359.25 Td (increase the value of derivative assets used to hedge product guarantees resulting in realized capital gains;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 341.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 341.25 Td (increase the costs of the hedging instruments we use in our hedging program;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 323.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 323.25 Td (increase the Company) Tj ET Q q 0 0 0 rg BT 153.59 323.25 Td (s net amount at risk for GMDB, GMWB and GMIB benefits;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 305.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 305.25 Td (decrease the Company) Tj ET Q q 0 0 0 rg BT 155.25 305.25 Td (s actual gross profits, resulting in increased DAC amortization;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 287.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 287.25 Td (increase the amount of required assets to be held backing variable annuity guarantees to maintain required regulatory reserve ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 275.25 Td (levels and tar) Tj ET Q q 0 0 0 rg BT 115.08 275.25 Td (geted risk based capital ratios; and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.95 257.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 257.25 Td (decrease the Company) Tj ET Q q 0 0 0 rg BT 155.25 257.25 Td (s estimated future gross profits. See Estimated Gross Profits Used in the ) Tj ET Q q 0 0 0 rg BT 445.86 257.25 Td (V) Tj ET Q q 0 0 0 rg BT 451.97 257.25 Td (aluation and ) Tj ET Q q 0 0 0 rg BT 503.07 257.25 Td (Amortization of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 245.25 Td (Assets and Liabilities ) Tj ET Q q 0 0 0 rg BT 150.00 245.25 Td (Associated with ) Tj ET Q q 0 0 0 rg BT 216.47 245.25 Td (V) Tj ET Q q 0 0 0 rg BT 222.58 245.25 Td (ariable ) Tj ET Q q 0 0 0 rg BT 251.74 245.25 Td (Annuity and Other Universal Life-T) Tj ET Q q 0 0 0 rg BT 395.99 245.25 Td (ype Contracts within the Critical ) Tj ET Q q 0 0 0 rg BT 528.47 245.25 Td (Accounting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.95 233.25 Td (Estimates section of the MD&A) Tj ET Q q 0 0 0 rg BT 190.27 233.25 Td ( for further information.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (Generally) Tj ET Q q 0 0 0 rg BT 70.27 215.25 Td (, increases in equity markets will reduce the value of the hedge derivative assets, resulting in realized capital losses, and will ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.25 Td (generally have the inverse impact of those listed above. For additional information, see Risk Hedging - ) Tj ET Q q 0 0 0 rg BT 445.66 203.25 Td (V) Tj ET Q q 0 0 0 rg BT 451.77 203.25 Td (ariable ) Tj ET Q q 0 0 0 rg BT 480.92 203.25 Td (Annuity Hedging ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.25 Td (Program section.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (V) Tj ET Q q 0 0 0 rg BT 36.50 173.25 Td (ariable ) Tj ET Q q 0 0 0 rg BT 67.71 173.25 Td (Annuity ) Tj ET Q q 0 0 0 rg BT 101.31 173.25 Td (Guaranteed ) Tj ET Q q 0 0 0 rg BT 151.58 173.25 Td (Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 155.25 Td (s U.S. and Japan variable annuities include guaranteed minimum death benefits and certain contracts include optional ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.25 Td (living benefit features. ) Tj ET Q q 0 0 0 rg BT 123.69 143.25 Td (A) Tj ET Q q 0 0 0 rg BT 130.36 143.25 Td ( majority of the Company) Tj ET Q q 0 0 0 rg BT 236.46 143.25 Td (s GMDB benefits, both direct and assumed, are reinsured with an af) Tj ET Q q 0 0 0 rg BT 508.15 143.25 Td (filiated captive ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.25 Td (reinsurer and an external reinsurer) Tj ET Q q 0 0 0 rg BT 168.10 131.25 Td (. ) Tj ET Q q 0 0 0 rg BT 175.42 131.25 Td (The net amount at risk \(NAR\) is generally defined as the guaranteed minimum benefit amount in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 119.25 Td (excess of the contract holder) Tj ET Q q 0 0 0 rg BT 146.27 119.25 Td () Tj ET Q q 0 0 0 rg BT 149.04 119.25 Td (s current account value. ) Tj ET Q q 0 0 0 rg BT 246.32 119.25 Td (V) Tj ET Q q 0 0 0 rg BT 252.43 119.25 Td (ariable annuity account values with guarantee features were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.99 119.25 Td ($81.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.49 119.25 Td ( billion and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 107.25 Td ($94.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.00 107.25 Td ( billion as of December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 162.86 107.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.36 107.25 Td ( and December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.88 107.25 Td ( 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.38 107.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 336.04 107.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 83.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 83.25 Td (s U.S. variable annuities include a GMWB rider) Tj ET Q q 0 0 0 rg BT 283.11 83.25 Td (. Declines in the equity markets will increase the Company) Tj ET Q q 0 0 0 rg BT 521.93 83.25 Td (s liability for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 71.25 Td (these benefits. ) Tj ET Q q 0 0 0 rg BT 90.65 71.25 Td (A) Tj ET Q q 0 0 0 rg BT 97.32 71.25 Td ( GMWB contract is in the money) Tj ET Q q 0 0 0 rg BT 236.54 71.25 Td ( if the contract holder) Tj ET Q q 0 0 0 rg BT 322.99 71.25 Td () Tj ET Q q 0 0 0 rg BT 325.77 71.25 Td (s guaranteed remaining benefit \(GRB\) becomes greater than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 59.25 Td (the account value. ) Tj ET Q q 0 0 0 rg BT 108.79 59.25 Td (The Company reinsures a majority of the GMWB benefits with an af) Tj ET Q q 0 0 0 rg BT 384.37 59.25 Td (filiated captive reinsurer) Tj ET Q q 0 0 0 rg BT 481.54 59.25 Td (. ) Tj ET Q endstream endobj 201 0 obj <> endobj 202 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (The following tables summarize the account values of the Company) Tj ET Q q 0 0 0 rg BT 306.70 701.10 Td (s U.S. and Japan variable annuities with guarantee features and the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (NAR split between various guarantee features \(retained net amount at risk does not take into consideration the ef) Tj ET Q q 0 0 0 rg BT 482.56 689.10 Td (fects of the variable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (annuity hedge programs in place as of each balance sheet date\):) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 606.60 224.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 606.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.00 606.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 606.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 606.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 606.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 578.60 224.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 578.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.00 578.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 578.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 578.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 578.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 550.60 224.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 550.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 318.00 550.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 384.00 550.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 550.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 550.60 66.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 640.6 m 256 640.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 640.6 m 318 640.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318 640.6 m 384 640.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384 640.6 m 450 640.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 640.6 m 512 640.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512 640.6 m 578 640.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 606.6 m 256 606.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 606.6 m 318 606.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 318 606.6 m 384 606.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 384 606.6 m 450 606.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 606.6 m 512 606.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512 606.6 m 578 606.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 522.6 m 256 522.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 522.6 m 318 522.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 318 522.6 m 384 522.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 384 522.6 m 450 522.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 522.6 m 512 522.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 522.6 m 578 522.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 237.25 658.00 Td (Total Variable Annuity Guarantees) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 257.20 645.00 Td (As of December 31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 34.50 611.05 Td (\($ in billions\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 258.60 611.05 Td (Account Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 331.45 629.05 Td (Gross Net) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 329.85 620.05 Td (Amount at) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 341.70 611.05 Td (Risk) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.35 629.05 Td (Retained Net) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 395.85 620.05 Td (Amount at) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 407.70 611.05 Td (Risk) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 471.10 629.05 Td (% of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.10 620.05 Td (Contracts In) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.85 611.05 Td (the Money[4]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.45 620.05 Td (% In the) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.50 611.05 Td (Money [4] [5]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 597.28 Td (U. S. Variable Annuity [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.50 597.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.50 597.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.50 597.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.50 597.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.50 597.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 583.17 Td (GMDB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.50 583.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.65 583.17 Td (61.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.50 583.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.65 583.17 Td (4.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.50 583.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.65 583.17 Td (1.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.15 583.17 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.15 583.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 583.17 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.15 583.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 569.17 Td (GMWB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.65 569.17 Td (30.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.65 569.17 Td (0.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.65 569.17 Td (0.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 569.17 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.15 569.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 569.17 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.15 569.17 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 555.28 Td (Japan Variable Annuity [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.50 555.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 541.17 Td (GMDB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.65 541.17 Td (20.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.65 541.17 Td (0.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.65 541.17 Td (0.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.15 541.17 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.15 541.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 541.17 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.15 541.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 527.17 Td (GMIB [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.65 527.17 Td (18.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.65 527.17 Td (0.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.65 527.17 Td (0.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.15 527.17 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.15 527.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 527.17 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.15 527.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 446.60 223.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.00 446.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 446.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 446.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 446.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 446.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 418.60 223.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.00 418.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 418.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 418.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 418.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 418.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 390.60 223.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.00 390.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 390.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 390.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 390.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 390.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 362.60 223.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.00 362.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 362.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 362.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 362.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 362.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 334.60 223.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.00 334.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 321.00 334.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.00 334.60 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 334.60 62.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 334.60 66.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 480.6 m 255 480.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 255 480.6 m 321 480.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 321 480.6 m 387 480.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 387 480.6 m 453 480.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 453 480.6 m 515 480.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 480.6 m 581 480.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 446.6 m 255 446.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 255 446.6 m 321 446.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 321 446.6 m 387 446.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 387 446.6 m 453 446.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 453 446.6 m 515 446.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 515 446.6 m 581 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 320.6 m 255 320.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 320.6 m 321 320.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 321 320.6 m 387 320.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 320.6 m 453 320.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 320.6 m 515 320.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 320.6 m 581 320.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 238.75 498.00 Td (Total Variable Annuity Guarantees) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 258.70 485.00 Td (As of December31, 2012) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 451.06 Td (\($ in billions\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 259.60 451.05 Td (Account Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.45 469.05 Td (Gross Net) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 332.85 460.05 Td (Amount at) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 344.70 451.05 Td (Risk) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 394.35 469.05 Td (Retained Net) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.85 460.05 Td (Amount at) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 410.70 451.05 Td (Risk) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 474.10 469.05 Td (% of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.10 460.05 Td (Contracts In) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.75 451.05 Td (the Money [4]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 530.45 460.05 Td (% In the) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.50 451.05 Td (Money [4] [5]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 437.28 Td (U. S Variable Annuity [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.50 437.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.50 437.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.50 437.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.50 437.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 437.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 423.17 Td (GMDB [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.65 423.17 Td (64.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.50 423.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.65 423.17 Td (6.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.50 423.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.65 423.17 Td (2.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 423.17 Td (48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 423.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 423.17 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 423.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 409.17 Td (GMWB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.65 409.17 Td (34.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.65 409.17 Td (0.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.65 409.17 Td (0.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 409.17 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 409.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 409.17 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 409.17 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 395.28 Td (Japan Variable Annuity [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 381.17 Td (GMDB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.65 381.17 Td (27.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.65 381.17 Td (5.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.65 381.17 Td (4.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 381.17 Td (98) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 381.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 381.17 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 381.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 367.17 Td (GMIB [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.65 367.17 Td (26.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.65 367.17 Td (3.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.65 367.17 Td (3.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 367.17 Td (97) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 367.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 367.17 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 367.17 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 353.28 Td (U.K. Variable Annuity [1] [6]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 339.17 Td (GMDB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.65 339.17 Td (1.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.15 339.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.15 339.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 339.17 Td (100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 339.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 339.17 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 339.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 325.17 Td (GMWB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.65 325.17 Td (1.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.15 325.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.15 325.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 325.17 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 325.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 325.17 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 325.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 304.30 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 304.30 Td (Policies with a guaranteed living benefit \(a GMWB in the U.S. or a GMIB in Japan\) also have a guaranteed death benefit. The net amount at risk ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 293.50 Td (\(NAR\) for each benefit is shown; however these benefits ar) Tj ET Q q 0 0 0 rg BT 271.38 293.50 Td (e not additive. When a policy terminates due to death, any NAR r) Tj ET Q q 0 0 0 rg BT 505.50 293.50 Td (elated to GMWB or ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 282.70 Td (GMIB is r) Tj ET Q q 0 0 0 rg BT 85.66 282.70 Td (eleased. Similarly) Tj ET Q q 0 0 0 rg BT 149.65 282.70 Td (, when a policy goes into benefit status on a GMWB or GMIB, its GMDB NAR is r) Tj ET Q q 0 0 0 rg BT 445.54 282.70 Td (eleased.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 271.90 Td ([2] ) Tj ET Q q 0 0 0 rg BT 49.50 271.90 Td (Excludes gr) Tj ET Q q 0 0 0 rg BT 91.90 271.90 Td (oup annuity contracts with GMDB benefits pr) Tj ET Q q 0 0 0 rg BT 256.55 271.90 Td (eviously sold by Retir) Tj ET Q q 0 0 0 rg BT 333.95 271.90 Td (ement Plans business. For further discussion of the sale of the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 261.10 Td (Retir) Tj ET Q q 0 0 0 rg BT 67.16 261.10 Td (ement Plans business, see Note 2 - Business Dispositions.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 250.30 Td ([3] ) Tj ET Q q 0 0 0 rg BT 49.50 250.30 Td (Includes small amount of GMWB and GMAB.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 239.50 Td ([4] ) Tj ET Q q 0 0 0 rg BT 49.50 239.50 Td (Excludes contracts that ar) Tj ET Q q 0 0 0 rg BT 143.90 239.50 Td (e fully r) Tj ET Q q 0 0 0 rg BT 171.56 239.50 Td (einsur) Tj ET Q q 0 0 0 rg BT 193.72 239.50 Td (ed.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 228.70 Td ([5] ) Tj ET Q q 0 0 0 rg BT 49.50 228.70 Td (For all contracts that ar) Tj ET Q q 0 0 0 rg BT 136.67 228.70 Td (e in the money, this r) Tj ET Q q 0 0 0 rg BT 221.83 228.70 Td (epr) Tj ET Q q 0 0 0 rg BT 233.49 228.70 Td (esents the per) Tj ET Q q 0 0 0 rg BT 282.64 228.70 Td (centage by which the average contract was in the money) Tj ET Q q 0 0 0 rg BT 485.84 228.70 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 217.90 Td ([6] ) Tj ET Q q 0 0 0 rg BT 49.50 217.90 Td (On December 12, 2013, the Company completed the sale of the U.K variable annuity business of Hartfor) Tj ET Q q 0 0 0 rg BT 427.36 217.90 Td (d Life International Limited \("HLIL"\), an ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 207.10 Td (indir) Tj ET Q q 0 0 0 rg BT 66.67 207.10 Td (ect wholly-owned subsidiary) Tj ET Q q 0 0 0 rg BT 169.16 207.10 Td (. For further discussion of the sale of the U.K. variable annuity business, HLIL) Tj ET Q q 0 0 0 rg BT 453.24 207.10 Td ( in 2013, see Note 2 - Business ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 196.30 Td (Dispositions and Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 131.76 196.30 Td (20) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 140.76 196.30 Td ( - ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 148.25 196.30 Td (Discontinued Operations) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 239.00 196.30 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q endstream endobj 203 0 obj <> endobj 204 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (101) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Many policyholders with a GMDB also have a GMWB in the U.S. or GMIB in Japan. Policyholders that have a product that of) Tj ET Q q 0 0 0 rg BT 540.40 713.10 Td (fer both ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (guarantees can only receive the GMDB or the GMIB benefit in Japan or the GMDB or GMWB in the U.S. ) Tj ET Q q 0 0 0 rg BT 460.67 701.10 Td (The GMDB NAR disclosed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (in the tables above is a point in time measurement and assumes that all participants utilize the GMDB benefit on that measurement date. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (For additional information on the Company's GMDB liability) Tj ET Q q 0 0 0 rg BT 277.35 677.10 Td (, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 319.56 677.10 Td (1) Tj ET Q q 0 0 0 rg BT 324.19 677.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.19 677.10 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.52 677.10 Td (Separate ) Tj ET Q q 0 0 0 rg BT 373.89 677.10 Td (Accounts, Death Benefits and Other Insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (Benefit Features) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 97.31 665.10 Td ( of Notes to Consolidated Financial Statements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (The Company expects to incur GMDB payments in the future only if the policyholder has an in the money GMDB at their death. If ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (the account value is reduced to a specified level, the contract holder will receive an annuity equal to the guaranteed remaining benefit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (\(GRB\). For the Company) Tj ET Q q 0 0 0 rg BT 145.37 623.10 Td (s life-time GMWB products, this annuity can exceed the GRB. ) Tj ET Q q 0 0 0 rg BT 407.53 623.10 Td (As the account value fluctuates with equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (market returns on a daily basis and the life-time GMWB payments may exceed the GRB, the ultimate amount to be paid by the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (Company) Tj ET Q q 0 0 0 rg BT 69.74 599.10 Td (, if any) Tj ET Q q 0 0 0 rg BT 97.13 599.10 Td (, is uncertain and could be significantly more or less than the Company) Tj ET Q q 0 0 0 rg BT 384.57 599.10 Td (s current carried liability) Tj ET Q q 0 0 0 rg BT 482.49 599.10 Td (. For additional ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (information on the Company) Tj ET Q q 0 0 0 rg BT 150.09 587.10 Td (s GMWB liability) Tj ET Q q 0 0 0 rg BT 221.67 587.10 Td (, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.87 587.10 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.87 587.10 Td ( - Fair ) Tj ET Q q 0 0 0 rg BT 295.63 587.10 Td (V) Tj ET Q q 0 0 0 rg BT 301.74 587.10 Td (alue Measurements of Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (For GMIB contracts, in general, the policyholder has the right to elect to annuitize benefits, beginning \(for certain products\) on the tenth ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (or fifteenth anniversary year of contract commencement, receive lump sum payment of the then current account value, or remain in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (variable sub-account. For GMIB contracts, if the policyholder makes the annuitization election, the policyholder is entitled to receive the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (original investment value over a 10- to 15- year annuitization period. If the policyholder defers this election, the policyholder has the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (right to revisit the election annually on the policy anniversary date. ) Tj ET Q q 0 0 0 rg BT 303.92 521.10 Td (A) Tj ET Q q 0 0 0 rg BT 310.59 521.10 Td ( small percentage of the contracts first became eligible to elect ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (annuitization in the third and fourth quarter of 2013. ) Tj ET Q q 0 0 0 rg BT 242.93 509.10 Td (The remainder of the contracts will first become eligible to elect annuitization from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (2014 to 2022. Because policyholders have various contractual rights to defer their annuitization election, the period over which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (annuitization election can take place is subject to policyholder behavior and therefore indeterminate. In addition, upon annuitization the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (contractholder surrenders access to the account value and the account value is transferred to the Company) Tj ET Q q 0 0 0 rg BT 457.72 473.10 Td (s general account where it is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (invested and the additional investment proceeds are used towards payment of the original investment value. If the original investment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (value exceeds the account value upon annuitization then the contract is in the money. ) Tj ET Q q 0 0 0 rg BT 385.82 449.10 Td (As of December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.34 449.10 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.84 449.10 Td (, approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.60 449.10 Td (80%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.93 449.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (of the Japan GMIB contracts were "out of the money". ) Tj ET Q q 0 0 0 rg BT 254.98 437.10 Td (The Company reinsures a majority of the GMIB benefits with an af) Tj ET Q q 0 0 0 rg BT 524.45 437.10 Td (filiated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (captive reinsurer) Tj ET Q q 0 0 0 rg BT 97.86 425.10 Td (. For additional information on the Company) Tj ET Q q 0 0 0 rg BT 280.33 425.10 Td (s GMIB liability) Tj ET Q q 0 0 0 rg BT 345.80 425.10 Td (, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.00 425.10 Td (1) Tj ET Q q 0 0 0 rg BT 392.63 425.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.63 425.10 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.96 425.10 Td (Separate ) Tj ET Q q 0 0 0 rg BT 442.33 425.10 Td (Accounts, Death Benefits and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (Other Insurance Benefit Features) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 163.95 413.10 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.10 Td (The following table represents the timing of account values eligible for annuitization under the Japan GMIB as well as the NAR. ) Tj ET Q q 0 0 0 rg BT 548.96 395.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (account values reflect 100% annuitization at the earliest point allowed by the contract and no adjustments for future market returns and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (policyholder behaviors. Future market returns, changes in the value of the Japanese yen and policyholder behaviors will impact account ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.10 Td (values eligible for annuitization in the years presented.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 320.60 365.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 320.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 320.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 292.60 365.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 292.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 292.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 264.60 365.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 264.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 264.60 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 236.60 365.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 236.60 92.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 236.60 92.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 334.6 m 397 334.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 334.6 m 489 334.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 334.6 m 581 334.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 320.6 m 397 320.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 320.6 m 489 320.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 320.6 m 581 320.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 236.60000000000002 m 397 236.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 236.60000000000002 m 489 236.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 236.60000000000002 m 581 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 223.60000000000002 m 397 223.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 223.60000000000002 m 489 223.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 223.60000000000002 m 581 223.60000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 339.05 Td (GMIB [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 441.20 339.05 Td (As of December 31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 34.50 325.05 Td (\($ in billions\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.60 325.05 Td (Account Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 496.35 325.05 Td (Net Amount at Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 311.17 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 311.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.65 311.17 Td (2.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 311.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 311.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 297.17 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.65 297.17 Td (4.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 297.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 283.17 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.65 283.17 Td (2.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 283.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 269.17 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.65 269.17 Td (2.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.65 269.17 Td (0.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 255.17 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.65 255.17 Td (1.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 255.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 241.17 Td (2019 & beyond [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.65 241.17 Td (4.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 241.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 227.33 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.50 227.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.65 227.33 Td (16.3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 491.50 227.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 564.65 227.33 Td (0.1) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 207.30 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 207.30 Td (Excludes certain non-GMIB living benefits of $2.2billion of account value and $0.0 billion of NAR.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 196.50 Td ([2] ) Tj ET Q q 0 0 0 rg BT 49.50 196.50 Td (In 2019 & beyond, $2.0 billion of the $4.2billion is associated with account value that is eligible in 2021.) Tj ET Q endstream endobj 205 0 obj <> endobj 206 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (102) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (V) Tj ET Q q 0 0 0 rg BT 36.50 713.10 Td (ariable ) Tj ET Q q 0 0 0 rg BT 67.71 713.10 Td (Annuity ) Tj ET Q q 0 0 0 rg BT 101.31 713.10 Td (Market ) Tj ET Q q 0 0 0 rg BT 132.69 713.10 Td (Risk ) Tj ET Q q 0 0 0 rg BT 152.40 713.10 Td (Exposur) Tj ET Q q 0 0 0 rg BT 185.36 713.10 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The following table summarizes the broad ) Tj ET Q q 0 0 0 rg BT 202.94 695.10 Td (V) Tj ET Q q 0 0 0 rg BT 209.05 695.10 Td (ariable ) Tj ET Q q 0 0 0 rg BT 238.20 695.10 Td (Annuity Guarantees of) Tj ET Q q 0 0 0 rg BT 329.10 695.10 Td (fered by the Company and the market risks to which the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (guarantee is most exposed from a U.S. GAAP) Tj ET Q q 0 0 0 rg BT 215.26 683.10 Td ( accounting perspective.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 658.60 381.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 658.60 168.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 618.60 144.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 176.00 618.60 237.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 618.60 168.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 570.60 381.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 570.60 168.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 530.60 144.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 176.00 530.60 237.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 530.60 168.00 -35.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 658.6 m 176 658.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 176 658.6 m 413 658.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 658.6 m 581 658.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 570.6 m 176 570.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 176 570.6 m 413 570.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 570.6 m 581 570.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 460.6 m 176 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 176 460.6 m 413 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 460.6 m 581 460.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 663.05 Td (Variable Annuity Guarantees [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 244.85 663.05 Td (U.S. GAAP Treatment [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.30 663.05 Td (Primary Market Risk Exposures [1]) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 34.50 649.16 Td (U.S. Variable Guarantees) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 649.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 634.17 Td (GMDB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.50 634.17 Td (Accumulation of the portion of fees required to cover) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.50 624.17 Td (expected claims, less accumulation of actual claims paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 634.17 Td (Equity Market Levels) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 609.17 Td (GMWB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.50 609.17 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 608.27 Td (Equity Market Levels / Implied) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 598.27 Td (V) Tj ET Q q 0 0 0 rg BT 421.43 598.27 Td (olatility / Interest Rates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 584.17 Td (For Life Component of GMWB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.50 584.17 Td (Accumulation of the portion of fees required to cover) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.50 574.17 Td (expected claims, less accumulation of actual claims paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 584.17 Td (Equity Market Levels) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 34.50 561.16 Td (International Variable Guarantees) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 561.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 546.17 Td (GMDB & GMIB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.50 546.17 Td (Accumulation of the portion of fees required to cover) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.50 536.17 Td (expected claims, less accumulation of actual claims paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 546.17 Td (Equity Market Levels / Interest) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 536.17 Td (Rates / Foreign Currency) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 521.17 Td (GMWB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.50 521.17 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 520.27 Td (Equity Market Levels / Implied) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 510.27 Td (V) Tj ET Q q 0 0 0 rg BT 421.43 510.27 Td (olatility / Interest) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 500.27 Td (Rates / Foreign Currency) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 486.17 Td (GMAB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.50 486.17 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 485.27 Td (Equity Market Levels / Implied) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 475.27 Td (V) Tj ET Q q 0 0 0 rg BT 421.43 475.27 Td (olatility / Interest Rates / Foreign ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 465.27 Td (Currency) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 444.30 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 444.30 Td (Each of these guarantees and the r) Tj ET Q q 0 0 0 rg BT 174.64 444.30 Td (elated U.S. GAAP) Tj ET Q q 0 0 0 rg BT 239.46 444.30 Td ( accounting volatility will also be influenced by actual and estimated policyholder behavior) Tj ET Q q 0 0 0 rg BT 568.40 444.30 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 432.30 Td (Risk Hedging) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 414.9669921875 m 173.4189453125 414.9669921875 l s q 0 0 0 rg BT 31.50 416.30 Td (V) Tj ET Q q 0 0 0 rg BT 37.61 416.30 Td (ariable ) Tj ET Q q 0 0 0 rg BT 66.76 416.30 Td (Annuity Hedging Program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 400.30 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 400.30 Td (s variable annuity hedging is primarily focused on reducing the economic exposure to market risks associated with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 388.30 Td (guaranteed benefits that are embedded in our global ) Tj ET Q q 0 0 0 rg BT 241.24 388.30 Td (V) Tj ET Q q 0 0 0 rg BT 247.17 388.30 Td (A) Tj ET Q q 0 0 0 rg BT 253.84 388.30 Td ( contracts through the use of reinsurance and capital market derivative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 376.30 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 82.98 376.30 Td (The variable annuity hedging also considers the potential impacts on Statutory accounting results.) Tj ET Q BT /F4 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 358.9669921875 m 81.4853515625 358.9669921875 l s q 0 0 0 rg BT 31.50 360.30 Td (Reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 344.30 Td (The Company uses reinsurance for a portion of contracts with GMWB riders issued prior to the third quarter of 2003 and GMWB risks ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 332.30 Td (associated with a block of business sold between the third quarter of 2003 and the second quarter of 2006. ) Tj ET Q q 0 0 0 rg BT 457.87 332.30 Td (The Company also uses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 320.30 Td (reinsurance for a majority of the GMDB issued in the U.S. and a portion of the GMDB issued in Japan.) Tj ET Q BT /F4 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 302.9669921875 m 141.4755859375 302.9669921875 l s q 0 0 0 rg BT 31.50 304.30 Td (Capital Market Derivatives) Tj ET Q BT /F4 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 286.9669921875 m 128.3310546875 286.9669921875 l s q 0 0 0 rg BT 31.50 288.30 Td (GMWB Hedge Pr) Tj ET Q q 0 0 0 rg BT 102.22 288.30 Td (ogram) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 272.30 Td (The Company enters into derivative contracts to hedge market risk exposures associated with the GMWB liabilities that are not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 260.30 Td (reinsured. ) Tj ET Q q 0 0 0 rg BT 73.53 260.30 Td (These derivative contracts include customized swaps, interest rate swaps and futures, and equity swaps, options, and futures, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 248.30 Td (on certain indices including the S&P) Tj ET Q q 0 0 0 rg BT 178.05 248.30 Td ( 500 index, EAFE index, and NASDAQ index.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 232.30 Td (Additionally) Tj ET Q q 0 0 0 rg BT 81.40 232.30 Td (, the Company holds customized derivative contracts to provide protection from certain capital market risks for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 220.30 Td (remaining term of specified blocks of non-reinsured GMWB riders. ) Tj ET Q q 0 0 0 rg BT 304.58 220.30 Td (These customized derivative contracts are based on policyholder ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 208.30 Td (behavior assumptions specified at the inception of the derivative contracts. ) Tj ET Q q 0 0 0 rg BT 332.61 208.30 Td (The Company retains the risk for dif) Tj ET Q q 0 0 0 rg BT 478.51 208.30 Td (ferences between ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 196.30 Td (assumed and actual policyholder behavior and between the performance of the actively managed funds underlying the separate accounts ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 184.30 Td (and their respective indices.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 168.30 Td (While the Company actively manages this dynamic hedging program, increased U.S. GAAP) Tj ET Q q 0 0 0 rg BT 401.04 168.30 Td ( earnings volatility may result from factors ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 156.30 Td (including, but not limited to: policyholder behavior) Tj ET Q q 0 0 0 rg BT 236.34 156.30 Td (, capital markets, diver) Tj ET Q q 0 0 0 rg BT 327.52 156.30 Td (gence between the performance of the underlying funds and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 144.30 Td (the hedging indices, changes in hedging positions and the relative emphasis placed on various risk management objectives.) Tj ET Q BT /F4 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 126.96699218749995 m 124.6298828125 126.96699218749995 l s q 0 0 0 rg BT 31.50 128.30 Td (Macr) Tj ET Q q 0 0 0 rg BT 52.79 128.30 Td (o Hedge Pr) Tj ET Q q 0 0 0 rg BT 98.52 128.30 Td (ogram) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 112.30 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 112.30 Td (s macro hedging program uses derivative instruments such as options and futures on equities and interest rates to provide ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 100.30 Td (protection against the statutory tail scenario risk arising from U.S., GMWB and GMDB liabilities, on the Company) Tj ET Q q 0 0 0 rg BT 495.87 100.30 Td (s statutory surplus. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 88.30 Td (These macro hedges cover some of the residual risks not otherwise covered by specific dynamic hedging programs. Management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 76.30 Td (assesses this residual risk under various scenarios in designing and executing the macro hedge program. ) Tj ET Q q 0 0 0 rg BT 449.54 76.30 Td (The macro hedge program will ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 64.30 Td (result in additional U.S. GAAP) Tj ET Q q 0 0 0 rg BT 156.12 64.30 Td ( earnings volatility as changes in the value of the macro hedge derivatives, which are designed to reduce ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 52.30 Td (statutory reserve and capital volatility) Tj ET Q q 0 0 0 rg BT 181.91 52.30 Td (, may not be closely aligned to changes in U.S. GAAP) Tj ET Q q 0 0 0 rg BT 399.00 52.30 Td ( liabilities.) Tj ET Q endstream endobj 207 0 obj <> endobj 208 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (103) Tj ET Q BT /F4 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 711.7669921875 m 155.005859375 711.7669921875 l s q 0 0 0 rg BT 31.50 713.10 Td (International Hedge Pr) Tj ET Q q 0 0 0 rg BT 125.00 713.10 Td (ograms) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 697.10 Td (The Company enters into derivative contracts to hedge market risk exposures associated with the guaranteed benefits which are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 685.10 Td (embedded in the international variable annuity contracts. ) Tj ET Q q 0 0 0 rg BT 261.24 685.10 Td (These derivative contracts include foreign currency forwards and options, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 673.10 Td (interest rate swaps, swaptions and futures, and equity swaps, options, and futures on certain broadly traded global equity indices ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 661.10 Td (including the S&P500 index, Nikkei 225 index, ) Tj ET Q q 0 0 0 rg BT 224.36 661.10 Td (T) Tj ET Q q 0 0 0 rg BT 229.77 661.10 Td (opix index, FTSE 100 index, and Euro Stoxx 50. During 2013, the Company expanded ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 649.10 Td (its hedging program to substantially reduce equity and foreign currency exchange risk. ) Tj ET Q q 0 0 0 rg BT 380.38 649.10 Td (The program is primarily focused on the risks ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 637.10 Td (that have been reinsured to the Company) Tj ET Q q 0 0 0 rg BT 198.12 637.10 Td (s U.S. legal entities although certain hedges, predominantly options, are also held directly in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 625.10 Td (HLIKK.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 609.10 Td (While the Company actively manages these dynamic hedging programs, increased U.S. GAAP) Tj ET Q q 0 0 0 rg BT 411.03 609.10 Td ( earnings volatility may result from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 597.10 Td (factors including, but not limited to: focus on reducing the economic exposure to market risks associated with guaranteed benefits, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 585.10 Td (capital markets, changes in hedging positions and the relative emphasis placed on various risk management objectives.) Tj ET Q BT /F4 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 567.7669921875 m 224.2587890625 567.7669921875 l s q 0 0 0 rg BT 31.50 569.10 Td (V) Tj ET Q q 0 0 0 rg BT 36.50 569.10 Td (ariable ) Tj ET Q q 0 0 0 rg BT 67.71 569.10 Td (Annuity Hedging Pr) Tj ET Q q 0 0 0 rg BT 147.88 569.10 Td (ogram Sensitivities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 553.10 Td (The following table presents the accounting treatment of the underlying guaranteed living benefits and the related hedge assets by hedge ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 541.10 Td (program.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 495.60 92.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 124.00 495.60 92.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.00 495.60 92.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 495.60 92.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 400.00 495.60 92.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 495.60 92.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 519.6 m 124 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 124 519.6 m 216 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 519.6 m 308 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308 519.6 m 400 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400 519.6 m 492 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 519.6 m 584 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 507.6 m 124 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 519.6 m 216 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 124 507.6 m 216 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 507.6 m 308 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400 519.6 m 400 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308 507.6 m 400 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400 507.6 m 492 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 507.6 m 584 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 495.6 m 124 495.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 507.6 m 216 495.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 124 495.6 m 216 495.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 495.6 m 308 495.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400 507.6 m 400 495.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308 495.6 m 400 495.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400 495.6 m 492 495.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 495.6 m 584 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 483.6 m 124 483.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 495.6 m 216 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 124 483.6 m 216 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216 483.6 m 308 483.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 400 495.6 m 400 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308 483.6 m 400 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 400 483.6 m 492 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 483.6 m 584 483.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 187.45 522.05 Td (U.S. Programs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 445.95 522.05 Td (International Programs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 101.85 511.00 Td (GMWB [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 294.80 511.00 Td (Macro) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.70 511.00 Td (Japan) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 499.00 Td (Hedge Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 150.20 499.00 Td (Liabilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.35 499.00 Td (Hedge Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.20 499.00 Td (Liabilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.35 499.00 Td (Hedge Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 511.85 499.00 Td (Liabilities [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 486.22 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.50 486.22 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 218.50 486.22 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.50 486.22 Td (Not Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.50 486.22 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.50 486.22 Td (Not Fair Value) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 469.30 Td ([1] Excludes life contingent GMWB contracts.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 455.50 Td ([2] ) Tj ET Q q 0 0 0 rg BT 49.50 455.50 Td (The liabilities for international variable annuity ar) Tj ET Q q 0 0 0 rg BT 232.66 455.50 Td (e primarily not measur) Tj ET Q q 0 0 0 rg BT 315.07 455.50 Td (ed on a fair value basis. However ther) Tj ET Q q 0 0 0 rg BT 452.72 455.50 Td (e is an immaterial portion of the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 444.70 Td (international variable annuity with a GMWB or GMAB which is measur) Tj ET Q q 0 0 0 rg BT 309.64 444.70 Td (ed on a fair value basis.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 429.70 Td (The following table presents our estimates of the potential instantaneous impacts from sudden market stresses related to equity market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 417.70 Td (prices, interest rates, implied market volatilities, and foreign currency exchange rates. ) Tj ET Q q 0 0 0 rg BT 376.46 417.70 Td (The sensitivities below represent: \(1\)the net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 405.70 Td (estimated dif) Tj ET Q q 0 0 0 rg BT 83.25 405.70 Td (ference between the change in the fair value of GMWB liabilities and the underlying hedge instruments and \(2\)the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 393.70 Td (estimated change in fair value of the hedge instruments for the macro and international hedge programs, before the impacts of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 381.70 Td (amortization of DAC, and taxes. ) Tj ET Q q 0 0 0 rg BT 163.41 381.70 Td (As noted in the table above, certain hedge assets are used to hedge liabilities that are not carried at fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 369.70 Td (value and will not have a liability of) Tj ET Q q 0 0 0 rg BT 176.00 369.70 Td (fset in the U.S. GAAP) Tj ET Q q 0 0 0 rg BT 265.07 369.70 Td ( sensitivity analysis. ) Tj ET Q q 0 0 0 rg BT 350.35 369.70 Td (All sensitivities are measured as of year end and are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 357.70 Td (related to the fair value of liabilities and hedge instruments in place as of year end for the Company) Tj ET Q q 0 0 0 rg BT 432.48 357.70 Td (s variable annuity hedge programs. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 345.70 Td (The impacts presented in the table below are estimated individually and measured without consideration of any correlation among ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 333.70 Td (market risk factors) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 282.20 113.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 282.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 282.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 282.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.00 282.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 282.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 282.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 282.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 282.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 282.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 256.20 113.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 256.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 256.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 256.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.00 256.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 256.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 256.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 256.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 256.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 256.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 230.20 113.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 230.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 230.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 230.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.00 230.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 230.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 230.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 230.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 230.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 230.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 204.20 113.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 145.00 204.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 188.00 204.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 231.00 204.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.00 204.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 317.00 204.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 360.00 204.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 204.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 204.20 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 204.20 43.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 145 308.20000000000005 m 188 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 188 308.20000000000005 m 231 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 231 308.20000000000005 m 274 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274 308.20000000000005 m 317 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 317 308.20000000000005 m 360 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360 308.20000000000005 m 403 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 308.20000000000005 m 446 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 308.20000000000005 m 489 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 308.20000000000005 m 532 308.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 295.20000000000005 m 145 295.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 145 295.20000000000005 m 188 295.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 188 295.20000000000005 m 231 295.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 231 295.20000000000005 m 274 295.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274 295.20000000000005 m 317 295.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 317 295.20000000000005 m 360 295.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360 295.20000000000005 m 403 295.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 295.20000000000005 m 446 295.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 295.20000000000005 m 489 295.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 295.20000000000005 m 532 295.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 282.20000000000005 m 145 282.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 145 282.20000000000005 m 188 282.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 188 282.20000000000005 m 231 282.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 231 282.20000000000005 m 274 282.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274 282.20000000000005 m 317 282.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 317 282.20000000000005 m 360 282.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360 282.20000000000005 m 403 282.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 282.20000000000005 m 446 282.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 282.20000000000005 m 489 282.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 282.20000000000005 m 532 282.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 256.20000000000005 m 145 256.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 145 256.20000000000005 m 188 256.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 188 256.20000000000005 m 231 256.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 231 256.20000000000005 m 274 256.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274 256.20000000000005 m 317 256.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 317 256.20000000000005 m 360 256.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360 256.20000000000005 m 403 256.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 256.20000000000005 m 446 256.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 256.20000000000005 m 489 256.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 256.20000000000005 m 532 256.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 230.20000000000005 m 145 230.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 145 230.20000000000005 m 188 230.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 188 230.20000000000005 m 231 230.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 231 230.20000000000005 m 274 230.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274 230.20000000000005 m 317 230.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 317 230.20000000000005 m 360 230.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360 230.20000000000005 m 403 230.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 230.20000000000005 m 446 230.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 230.20000000000005 m 489 230.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 230.20000000000005 m 532 230.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 204.20000000000005 m 145 204.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 145 204.20000000000005 m 188 204.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 188 204.20000000000005 m 231 204.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 231 204.20000000000005 m 274 204.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274 204.20000000000005 m 317 204.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 317 204.20000000000005 m 360 204.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 360 204.20000000000005 m 403 204.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 204.20000000000005 m 446 204.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 204.20000000000005 m 489 204.20000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 204.20000000000005 m 532 204.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 178.20000000000005 m 145 178.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 145 178.20000000000005 m 188 178.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 188 178.20000000000005 m 231 178.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 231 178.20000000000005 m 274 178.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274 178.20000000000005 m 317 178.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 317 178.20000000000005 m 360 178.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 178.20000000000005 m 403 178.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 178.20000000000005 m 446 178.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 178.20000000000005 m 489 178.20000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 178.20000000000005 m 532 178.20000000000005 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 34.75 312.43 Td (U.S. GAAP Sensitivity Analysis) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 295.95 312.43 Td (As of December 31, 2013) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 34.50 300.28 Td (\(pre Tax/DAC\) [1]) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 248.55 299.43 Td (U.S. Programs) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 428.05 299.43 Td (International Program) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 195.40 286.43 Td (GMWB) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 326.70 286.43 Td (Macro) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 456.55 286.43 Td (Japan) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 34.50 273.43 Td (Equity Market Return) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 166.10 273.43 Td (\(20) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 176.80 273.43 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 209.10 273.43 Td (\(10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 219.80 273.43 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 254.80 273.43 Td (10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 265.45 273.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 295.10 273.43 Td (\(20) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 305.80 273.43 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 338.10 273.43 Td (\(10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 348.80 273.43 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 383.80 273.43 Td (10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 394.45 273.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 424.10 273.43 Td (\(20) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 434.80 273.43 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 467.10 273.43 Td (\(10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 477.80 273.43 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 512.80 273.43 Td (10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 523.45 273.43 Td (%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 34.50 260.45 Td (Potential Net Fair Value Impact) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 147.50 260.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 172.80 260.45 Td (6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 190.50 260.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 213.10 260.45 Td (\(1) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 219.80 260.45 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 233.50 260.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 258.80 260.45 Td (5) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 276.50 260.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 297.80 260.45 Td (62) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 319.50 260.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 340.80 260.45 Td (24) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 362.50 260.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 381.10 260.45 Td (\(19) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 391.80 260.45 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 405.50 260.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 422.80 260.45 Td (356) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 448.50 260.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 465.80 260.45 Td (172) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 491.50 260.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 506.10 260.45 Td (\(167) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 520.80 260.45 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 34.50 247.43 Td (Interest Rates) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 161.80 247.43 Td (-50bps) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 204.80 247.43 Td (-25bps) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 250.45 247.43 Td (25bps) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 290.80 247.43 Td (-50bps) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 333.80 247.43 Td (-25bps) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 379.45 247.43 Td (25bps) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 419.80 247.43 Td (-50bps) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 462.80 247.43 Td (-25bps) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 508.45 247.43 Td (25bps) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 34.50 234.45 Td (Potential Net Fair Value Impact) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 147.50 234.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 172.80 234.45 Td (2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 190.50 234.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 215.80 234.45 Td (3) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 233.50 234.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 256.10 234.45 Td (\(8) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 262.80 234.45 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 276.50 234.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 297.80 234.45 Td (16) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 319.50 234.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 344.80 234.45 Td (8) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 362.50 234.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 385.10 234.45 Td (\(8) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 391.80 234.45 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 405.50 234.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 428.10 234.45 Td (\(2) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 434.80 234.45 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 448.50 234.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 473.80 234.45 Td (6) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 491.50 234.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 514.10 234.45 Td (\(4) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 520.80 234.45 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 34.50 221.43 Td (Implied Volatilities) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 168.80 221.43 Td (10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 179.45 221.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 215.80 221.43 Td (2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 222.45 221.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 252.10 221.43 Td (\(10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 262.80 221.43 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 297.80 221.43 Td (10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 308.45 221.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 344.80 221.43 Td (2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.45 221.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 381.10 221.43 Td (\(10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 391.80 221.43 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 426.80 221.43 Td (10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 437.45 221.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 473.80 221.43 Td (2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 480.45 221.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 510.10 221.43 Td (\(10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 520.80 221.43 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 34.50 208.45 Td (Potential Net Fair Value Impact) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 147.50 208.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 168.80 208.45 Td (36) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 190.50 208.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 215.80 208.45 Td (7) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 233.50 208.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 252.10 208.45 Td (\(28) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 262.80 208.45 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 276.50 208.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 297.80 208.45 Td (66) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 319.50 208.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 340.80 208.45 Td (14) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 362.50 208.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 381.10 208.45 Td (\(75) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 391.80 208.45 Td (\)) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 405.50 208.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 426.80 208.45 Td (56) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 448.50 208.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 469.80 208.45 Td (10) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 491.50 208.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 510.10 208.45 Td (\(33) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 520.80 208.45 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 34.50 195.43 Td (Yen Strengthens +/ Weakens -) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 168.80 195.43 Td (20) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 179.45 195.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 211.80 195.43 Td (10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 222.45 195.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 252.10 195.43 Td (\(10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 262.80 195.43 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 297.80 195.43 Td (20) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 308.45 195.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 340.80 195.43 Td (10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.45 195.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 381.10 195.43 Td (\(10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 391.80 195.43 Td (\)%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 426.80 195.43 Td (20) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 437.45 195.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 469.80 195.43 Td (10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 480.45 195.43 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 510.10 195.43 Td (\(10) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 520.80 195.43 Td (\)%) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 34.50 182.45 Td (Potential Net Fair Value Impact) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 172.15 182.45 Td (N/A) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 215.15 182.45 Td (N/A) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 258.15 182.45 Td (N/A) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 301.15 182.45 Td (N/A) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 344.15 182.45 Td (N/A) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 387.15 182.45 Td (N/A) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 405.50 182.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 426.80 182.45 Td (28) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 448.50 182.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 473.80 182.45 Td (5) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 491.50 182.45 Td ($) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 514.10 182.45 Td (\(7) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 520.80 182.45 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 167.90 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 167.90 Td (These sensitivities ar) Tj ET Q q 0 0 0 rg BT 124.66 167.90 Td (e based on the following key market levels as of December 31, 2013: 1\) S&P) Tj ET Q q 0 0 0 rg BT 401.18 167.90 Td ( of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 412.68 167.90 Td (1848) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 430.68 167.90 Td (; 2\) 10yr US swap rate of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 524.42 167.90 Td (3.25) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 540.17 167.90 Td (%; 3\) S&P) Tj ET Q q 0 0 0 rg BT 579.50 167.90 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 157.10 Td (10yr volatility of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 111.74 157.10 Td (25.14) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 131.99 157.10 Td (% and 4\) FX rates of USDJPY @ ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 257.01 157.10 Td (105.31) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 281.76 157.10 Td ( and EURJPY @ ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 344.53 157.10 Td (144.73) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 369.28 157.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 142.10 Td (The above sensitivity analysis is an estimate and should not be used to predict the future financial performance of the Company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 130.10 Td (variable annuity hedge programs. ) Tj ET Q q 0 0 0 rg BT 167.66 130.10 Td (The actual net changes in the fair value liability and the hedging assets illustrated in the above table ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 118.10 Td (may vary materially depending on a variety of factors which include but are not limited to:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 102.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 102.10 Td (The sensitivity analysis is only valid as of the measurement date and assumes instantaneous changes in the capital market factors ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 90.10 Td (and no ability to rebalance hedge positions prior to the market changes;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 75.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 75.10 Td (Changes to the underlying hedging program, policyholder behavior) Tj ET Q q 0 0 0 rg BT 325.83 75.10 Td (, and variation in underlying fund performance relative to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 63.10 Td (hedged index, which could materially impact the liability; and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 48.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 48.10 Td (The impact of elapsed time on liabilities or hedge assets, any non-parallel shifts in capital market factors, or correlated moves ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 36.10 Td (across the sensitivities.) Tj ET Q endstream endobj 209 0 obj <> endobj 210 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (104) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Foreign Currency Exchange Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Foreign currency exchange risk is defined as the risk of financial loss due to changes in the relative value between currencies. ) Tj ET Q q 0 0 0 rg BT 536.69 695.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (Company) Tj ET Q q 0 0 0 rg BT 73.17 683.25 Td (s foreign currency exchange risk is related to non-U.S. dollar denominated liability contracts, the investment in and net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (income of the Japanese operations, non-U.S. dollar denominated fixed maturity investments, and a yen denominated individual fixed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (annuity product. In addition, the Company) Tj ET Q q 0 0 0 rg BT 204.53 659.25 Td (s ) Tj ET Q q 0 0 0 rg BT 210.74 659.25 Td (T) Tj ET Q q 0 0 0 rg BT 216.15 659.25 Td (alcott Resolution operations issued non-U.S. dollar denominated funding agreement ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (liability contracts. ) Tj ET Q q 0 0 0 rg BT 105.65 647.25 Td (A) Tj ET Q q 0 0 0 rg BT 112.32 647.25 Td ( portion of the Company) Tj ET Q q 0 0 0 rg BT 213.42 647.25 Td (s foreign currency exposure is mitigated through the use of derivatives.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (The company manages the market risk, including foreign currency exchange risk, associated with the guaranteed benefits related to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (Japanese variable annuities through its comprehensive International Hedge Program. For more information on the International Hedge ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (Program, including the foreign currency exchange risk sensitivity analysis, see the ) Tj ET Q q 0 0 0 rg BT 363.17 605.25 Td (V) Tj ET Q q 0 0 0 rg BT 369.28 605.25 Td (ariable Product Guarantee Risks and Risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (Management section.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (Liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 560.25 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 560.25 Td (alcott Resolution previously issued non-U.S. dollar denominated funding agreement liability contracts. ) Tj ET Q q 0 0 0 rg BT 450.53 560.25 Td (The Company hedged the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 548.25 Td (foreign currency risk associated with these liability contracts with currency rate swaps. ) Tj ET Q q 0 0 0 rg BT 381.10 548.25 Td (At ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.60 548.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.19 548.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.63 548.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.63 548.25 Td (, the derivatives ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 536.25 Td (used to hedge foreign currency exchange risk related to foreign denominated liability contracts had a total notional amount of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.05 536.25 Td (94) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.05 536.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 524.25 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.50 524.25 Td (134) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 524.25 Td ( and a total fair value of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.51 524.25 Td (\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 166.17 524.25 Td ( and less than $1, respectively) Tj ET Q q 0 0 0 rg BT 285.49 524.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 506.25 Td (Hartford Life Insurance KK \(HLIKK\), a wholly-owned Japanese subsidiary of Hartford Life, Inc. \(HLI\), previously issued a yen-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 494.25 Td (denominated fixed annuity product and subsequently reinsured it to Hartford Life Insurance Company) Tj ET Q q 0 0 0 rg BT 439.63 494.25 Td (, a U.S. dollar based wholly-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 482.25 Td (owned indirect subsidiary of HLI. During 2009, the Company suspended new sales of the Japan business. ) Tj ET Q q 0 0 0 rg BT 456.52 482.25 Td (The underlying investment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 470.25 Td (strategy involves investing in the U.S. securities markets, which of) Tj ET Q q 0 0 0 rg BT 298.49 470.25 Td (fer favorable credit spreads. ) Tj ET Q q 0 0 0 rg BT 412.42 470.25 Td (The yen denominated fixed annuity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 458.25 Td (product \(yen fixed annuities\) is recorded in the consolidated balance sheets with invested assets denominated in dollars while ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 446.25 Td (policyholder liabilities are denominated in yen and converted to U.S. dollars based upon the December31 yen to U.S. dollar spot rate. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 434.25 Td (The dif) Tj ET Q q 0 0 0 rg BT 60.47 434.25 Td (ference between U.S. dollar denominated investments and yen denominated liabilities exposes the Company to currency risk. ) Tj ET Q q 0 0 0 rg BT 564.32 434.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 422.25 Td (Company manages the currency risk associated with the yen fixed annuities primarily with pay variable U.S. dollar and receive fixed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 410.25 Td (yen currency swaps.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 392.25 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 392.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 392.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.97 392.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.97 392.25 Td (, the notional value of the currency swaps was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.13 392.25 Td (1.4 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.24 392.25 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.68 392.25 Td (1.7 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.79 392.25 Td ( and the fair value was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 380.25 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.50 380.25 Td (\(6\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 48.16 380.25 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.60 380.25 Td (224) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.60 380.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 140.26 380.25 Td (. ) Tj ET Q q 0 0 0 rg BT 145.08 380.25 Td (The currency swaps are recorded at fair value, incorporating changes in value due to changes in forward ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 368.25 Td (foreign exchange rates, interest rates and accrued income. Included in net realized capital gains and losses was a before-tax net gain of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 356.25 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.50 356.25 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 356.25 Td (, a net loss of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.05 356.25 Td (\(36\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.71 356.25 Td ( and net gain of $3 for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.76 356.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.35 356.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.85 356.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.85 356.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.28 356.25 Td (201) Tj ET Q q 0 0 0 rg BT 414.91 356.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.91 356.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 472.57 356.25 Td (, which include the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 344.25 Td (changes in value of the currency swaps, excluding net periodic coupon settlements, and the yen fixed annuity contract remeasurement.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 326.25 Td (Fixed Maturity Investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.25 Td (The risk associated with the non-U.S. dollar denominated fixed maturities relates to potential decreases in value and income resulting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.25 Td (from unfavorable changes in foreign exchange rates. ) Tj ET Q q 0 0 0 rg BT 244.00 299.25 Td (The fair value of the non-U.S. dollar denominated fixed maturities, which are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.25 Td (primarily denominated in yen, at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.80 287.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.38 287.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.82 287.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.82 287.25 Td (, were approximately $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.01 287.25 Td (2.6 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.12 287.25 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.56 287.25 Td (2.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.67 287.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 534.33 287.25 Td (. Included ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (in these amounts are $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.92 275.25 Td (2.4 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 162.03 275.25 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.47 275.25 Td (1.8 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.58 275.25 Td ( at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.80 275.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.38 275.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.82 275.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.82 275.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 410.48 275.25 Td (, related to non-U.S. dollar denominated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.25 Td (fixed maturity securities that directly support liabilities denominated in the same currencies. ) Tj ET Q q 0 0 0 rg BT 401.67 263.25 Td (At ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.17 263.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.75 263.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.19 263.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.19 263.25 Td (, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.25 Td (derivatives used to hedge currency exchange risk related to the remaining non-U.S. dollar denominated fixed maturities had a total ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.25 Td (notional amount of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.10 239.25 Td (194) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.10 239.25 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.54 239.25 Td (246) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.54 239.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 222.20 239.25 Td (, and total fair value of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.77 239.25 Td (\(13\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.43 239.25 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.87 239.25 Td (\(17\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.53 239.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 431.19 239.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.25 Td (Based on the fair values of the Company) Tj ET Q q 0 0 0 rg BT 197.29 221.25 Td (s non-U.S. dollar denominated securities, including the associated yen denominated fixed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.25 Td (annuity product liabilities, and derivative instruments as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 209.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.09 209.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.53 209.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.53 209.25 Td (, management estimates that a 10% unfavorable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.25 Td (change in exchange rates would decrease the fair values by a before-tax total of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.16 197.25 Td ($165) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.16 197.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.60 197.25 Td ($1) Tj ET Q q 0 0 0 rg BT 461.23 197.25 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.23 197.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 523.89 197.25 Td (. ) Tj ET Q q 0 0 0 rg BT 528.71 197.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.25 Td (estimated impact was based upon a 10% change in December31 spot rates. ) Tj ET Q q 0 0 0 rg BT 335.67 185.25 Td (The selection of the 10% unfavorable change was made only ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (for illustration of the potential hypothetical impact of such an event and should not be construed as a prediction of future market events. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.25 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 124.91 161.25 Td (fer materially from those illustrated above due to the nature of the estimates and assumptions used in the above ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.25 Td (analysis.) Tj ET Q endstream endobj 211 0 obj <> endobj 212 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (105) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Financial Risk on Statutory Capital) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Statutory surplus amounts and risk-based capital \(RBC\) ratios may increase or decrease in any period depending upon a variety of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (factors and may be compounded in extreme scenarios or if multiple factors occur at the same time. ) Tj ET Q q 0 0 0 rg BT 428.03 683.25 Td (At times the impact of changes in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (certain market factors or a combination of multiple factors on RBC ratios can be counterintuitive. Factors include:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 653.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 653.25 Td (In general, as equity market levels and interest rates decline, the amount and volatility of both our actual potential obligation, as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 641.25 Td (well as the related statutory surplus and capital mar) Tj ET Q q 0 0 0 rg BT 262.16 641.25 Td (gin for death and living benefit guarantees associated with U.S. variable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 629.25 Td (annuity contracts can be materially negatively af) Tj ET Q q 0 0 0 rg BT 251.03 629.25 Td (fected, sometimes at a greater than linear rate. Other market factors that can ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 617.25 Td (impact statutory surplus, reserve levels and capital mar) Tj ET Q q 0 0 0 rg BT 276.60 617.25 Td (gin include dif) Tj ET Q q 0 0 0 rg BT 334.74 617.25 Td (ferences in performance of variable subaccounts relative to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 605.25 Td (indices and/or realized equity and interest rate volatilities. In addition, as equity market levels increase, generally surplus levels ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 593.25 Td (will increase. RBC ratios will also tend to increase when equity markets increase. However) Tj ET Q q 0 0 0 rg BT 421.62 593.25 Td (, as a result of a number of factors and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 581.25 Td (market conditions, including the level of hedging costs and other risk transfer activities, reserve requirements for death and living ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 569.25 Td (benefit guarantees and RBC requirements could increase with rising equity markets, resulting in lower RBC ratios. Non-market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 557.25 Td (factors, which can also impact the amount and volatility of both our actual potential obligation, as well as the related statutory ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 545.25 Td (surplus and capital mar) Tj ET Q q 0 0 0 rg BT 149.70 545.25 Td (gin, include actual and estimated policyholder behavior experience as it pertains to lapsation, partial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 533.25 Td (withdrawals, and mortality) Tj ET Q q 0 0 0 rg BT 163.68 533.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 518.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 518.25 Td (For guaranteed benefits \(GMDB, GMIB, and GMWB\) reinsured from our international operations to our U.S. insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 506.25 Td (subsidiaries, or guaranteed by our U.S. insurance subsidiaries, the Company hedges its aggregate economic exposure to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 494.25 Td (various risks arising out of the product guarantees, with a focus on the underlying economics of the exposure to the entire ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 482.25 Td (Company) Tj ET Q q 0 0 0 rg BT 95.09 482.25 Td (, rather than the direct liability of the underlying issuer of the related products.) Tj ET Q q 0 0 0 rg BT 413.42 482.25 Td (The Company believes that hedging ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 470.25 Td (economic exposure in this manner is consistent with certain intercompany reinsurance agreements and guarantees, results in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 458.25 Td (increased capital ef) Tj ET Q q 0 0 0 rg BT 133.84 458.25 Td (ficiency and results in a better risk profile than taking alternative approaches to hedging that might emphasize ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 446.25 Td (statutory or GAAP) Tj ET Q q 0 0 0 rg BT 132.03 446.25 Td ( measures or considerations. ) Tj ET Q q 0 0 0 rg BT 250.15 446.25 Td (The amount and volatility of both our actual potential obligation, as well as the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 434.25 Td (related statutory surplus and capital mar) Tj ET Q q 0 0 0 rg BT 216.89 434.25 Td (gin can be materially af) Tj ET Q q 0 0 0 rg BT 311.11 434.25 Td (fected by a variety of factors, both market and non-market. Market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 422.25 Td (factors include declines in various equity market indices and interest rates, changes in value of the yen versus other global ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 410.25 Td (currencies, dif) Tj ET Q q 0 0 0 rg BT 113.86 410.25 Td (ference in the performance of variable subaccounts relative to indices, and increases in realized equity) Tj ET Q q 0 0 0 rg BT 521.64 410.25 Td (, interest rate, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 398.25 Td (and currency volatilities. Non-market factors include actual and estimated policyholder behavior experience as it pertains to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 386.25 Td (lapsation, withdrawals, mortality) Tj ET Q q 0 0 0 rg BT 187.84 386.25 Td (, and annuitization. Risk mitigation activities, such as hedging, may also result in material and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 374.25 Td (sometimes counterintuitive impacts on statutory surplus and capital mar) Tj ET Q q 0 0 0 rg BT 344.38 374.25 Td (gin. Notably) Tj ET Q q 0 0 0 rg BT 393.73 374.25 Td (, as changes in these market and non-market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 362.25 Td (factors occur) Tj ET Q q 0 0 0 rg BT 108.36 362.25 Td (, both our potential obligation and the related statutory reserves and/or required capital can increase or decrease at a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 350.25 Td (greater than linear rate.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 335.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 335.25 Td (As the value of certain fixed-income and equity securities in our investment portfolio decreases, due in part to credit spread ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 323.25 Td (widening, statutory surplus and RBC ratios may decrease.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 308.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 308.25 Td (As the value of certain derivative instruments that do not qualify for hedge accounting decreases, statutory surplus and RBC ratios ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 296.25 Td (may decrease.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 281.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 281.25 Td (The life insurance subsidiaries) Tj ET Q q 0 0 0 rg BT 181.34 281.25 Td ( exposure to foreign currency exchange risk exists with respect to non-U.S. dollar denominated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 269.25 Td (assets and liabilities. ) Tj ET Q q 0 0 0 rg BT 141.28 269.25 Td (Assets and liabilities denominated in foreign currencies are accounted for at their U.S. dollar equivalent ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 257.25 Td (values using exchange rates at the balance sheet date. ) Tj ET Q q 0 0 0 rg BT 272.31 257.25 Td (As foreign currency exchange rates vary in comparison to the U.S. dollar) Tj ET Q q 0 0 0 rg BT 564.32 257.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 245.25 Td (the remeasured value of those non-dollar denominated assets or liabilities will also vary) Tj ET Q q 0 0 0 rg BT 407.21 245.25 Td (, causing an increase or decrease to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 233.25 Td (statutory surplus.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 218.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 218.25 Td (Our statutory surplus is also impacted by widening credit spreads as a result of the accounting for the assets and liabilities in our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 206.25 Td (fixed MV) Tj ET Q q 0 0 0 rg BT 94.72 206.25 Td (A) Tj ET Q q 0 0 0 rg BT 101.39 206.25 Td ( annuities. Statutory separate account assets supporting the fixed MV) Tj ET Q q 0 0 0 rg BT 376.70 206.25 Td (A) Tj ET Q q 0 0 0 rg BT 383.37 206.25 Td ( annuities are recorded at fair value. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 194.25 Td (determining the statutory reserve for the fixed MV) Tj ET Q q 0 0 0 rg BT 258.00 194.25 Td (A) Tj ET Q q 0 0 0 rg BT 264.67 194.25 Td ( annuities, we are required to use current crediting rates in the U.S. and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 182.25 Td (Japanese LIBOR in Japan. In many capital market scenarios, current crediting rates in the U.S. are highly correlated with market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 170.25 Td (rates implicit in the fair value of statutory separate account assets. ) Tj ET Q q 0 0 0 rg BT 322.31 170.25 Td (As a result, the change in statutory reserve from period to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 158.25 Td (period will likely substantially of) Tj ET Q q 0 0 0 rg BT 189.43 158.25 Td (fset the change in the fair value of the statutory separate account assets. However) Tj ET Q q 0 0 0 rg BT 513.90 158.25 Td (, in periods of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 146.25 Td (volatile credit markets, such as we have experienced, actual credit spreads on investment assets may increase sharply for certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 134.25 Td (sub-sectors of the overall credit market, resulting in statutory separate account asset market value losses. ) Tj ET Q q 0 0 0 rg BT 476.99 134.25 Td (As actual credit spreads ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 122.25 Td (are not fully reflected in the current crediting rates in the U.S. or Japanese LIBOR in Japan, the calculation of statutory reserves ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 110.25 Td (will not substantially of) Tj ET Q q 0 0 0 rg BT 151.39 110.25 Td (fset the change in fair value of the statutory separate account assets resulting in reductions in statutory ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 98.25 Td (surplus. ) Tj ET Q q 0 0 0 rg BT 90.56 98.25 Td (This has resulted and may continue to result in the need to devote significant additional capital to support the product.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 83.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 83.25 Td (W) Tj ET Q q 0 0 0 rg BT 65.89 83.25 Td (ith respect to our fixed annuity business, sustained low interest rates may result in a reduction in statutory surplus and an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 71.25 Td (increase in NAIC required capital.) Tj ET Q endstream endobj 213 0 obj <> endobj 214 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (106) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Most of these factors are outside of the Company) Tj ET Q q 0 0 0 rg BT 231.45 713.10 Td (s control. ) Tj ET Q q 0 0 0 rg BT 270.99 713.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 330.70 713.10 Td (s financial strength and credit ratings are significantly ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (influenced by the statutory surplus amounts and RBC ratios of our insurance company subsidiaries. In addition, rating agencies may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (implement changes to their internal models that have the ef) Tj ET Q q 0 0 0 rg BT 268.18 689.10 Td (fect of increasing or decreasing the amount of statutory capital we must hold ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (in order to maintain our current ratings.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (The Company has reinsured approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 206.73 659.10 Td (20%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.06 659.10 Td ( of its risk associated with U.S. GMWB and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.65 659.10 Td (76%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.98 659.10 Td ( of its risk associated with the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (aggregate U.S. GMDB exposure. ) Tj ET Q q 0 0 0 rg BT 166.57 647.10 Td (These reinsurance agreements serve to reduce the Company) Tj ET Q q 0 0 0 rg BT 408.97 647.10 Td (s exposure to changes in the statutory ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (reserves and the related capital and RBC ratios associated with changes in the capital markets. ) Tj ET Q q 0 0 0 rg BT 410.63 635.10 Td (The Company also continues to explore ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (other solutions for mitigating the capital market risk ef) Tj ET Q q 0 0 0 rg BT 250.15 623.10 Td (fect on surplus, such as external reinsurance solutions, modifications to our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (hedging program, changes in product design, increasing pricing and expense management.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 42.98 593.10 Td (edit Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (Credit risk is defined as the risk of financial loss due to uncertainty of an obligor) Tj ET Q q 0 0 0 rg BT 354.29 575.10 Td () Tj ET Q q 0 0 0 rg BT 357.07 575.10 Td (s or counterparty) Tj ET Q q 0 0 0 rg BT 427.60 575.10 Td (s ability or willingness to meet its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (obligations in accordance with contractually agreed upon terms. ) Tj ET Q q 0 0 0 rg BT 289.84 563.10 Td (The majority of the Company) Tj ET Q q 0 0 0 rg BT 411.48 563.10 Td (s credit risk is concentrated in its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (investment holdings but is also present in reinsurance and insurance portfolios. Credit risk is comprised of three major factors: the risk of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (change in credit quality) Tj ET Q q 0 0 0 rg BT 124.98 539.10 Td (, or credit migration risk; the risk of default; and the risk of a change in value of a financial instrument due to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (changes in credit spread that are unrelated to changes in obligor credit quality) Tj ET Q q 0 0 0 rg BT 341.29 527.10 Td (. ) Tj ET Q q 0 0 0 rg BT 345.74 527.10 Td (A) Tj ET Q q 0 0 0 rg BT 352.41 527.10 Td ( decline in creditworthiness is typically associated with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.10 Td (an increase in an investment) Tj ET Q q 0 0 0 rg BT 147.57 515.10 Td (s credit spread, potentially resulting in an increase in other) Tj ET Q q 0 0 0 rg BT 381.18 515.10 Td (-than-temporary impairments and an increased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.10 Td (probability of a realized loss upon sale.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (The objective of the Company) Tj ET Q q 0 0 0 rg BT 155.91 485.10 Td (s enterprise credit risk management strategy is to identify) Tj ET Q q 0 0 0 rg BT 384.63 485.10 Td (, quantify) Tj ET Q q 0 0 0 rg BT 422.31 485.10 Td (, and manage credit risk on an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (aggregate portfolio basis and to limit potential losses in accordance with an established credit risk appetite. ) Tj ET Q q 0 0 0 rg BT 461.47 473.10 Td (The Company manages to its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (risk appetite by primarily holding a diversified mix of investment grade issuers and counterparties across its investment, reinsurance, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (insurance portfolios. Potential losses are also limited within portfolios by diversifying across geographic regions, asset types, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (sectors.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.10 Td (The Company manages a credit exposure from its inception to its maturity or sale. Both the investment and reinsurance areas have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.10 Td (formulated procedures for counterparty approvals and authorizations. ) Tj ET Q q 0 0 0 rg BT 310.85 407.10 Td (Although approval processes may vary by area and type of credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.10 Td (risk, approval processes establish minimum levels of creditworthiness and financial stability) Tj ET Q q 0 0 0 rg BT 399.93 395.10 Td (. Eligible credits are subjected to prudent ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (and conservative underwriting reviews. ) Tj ET Q q 0 0 0 rg BT 191.54 383.10 Td (W) Tj ET Q q 0 0 0 rg BT 200.58 383.10 Td (ithin the investment portfolio, private securities, such as commercial mortgages, and private ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (placements, must be presented to their respective review committees for approval.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (Credit risks are managed on an on-going basis through the use of various processes and analyses. ) Tj ET Q q 0 0 0 rg BT 422.24 353.10 Td (At the investment, reinsurance, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (insurance product levels, fundamental credit analyses are performed at the issuer/counterparty level on a regular basis. ) Tj ET Q q 0 0 0 rg BT 507.24 341.10 Td (T) Tj ET Q q 0 0 0 rg BT 512.65 341.10 Td (o provide a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (holistic review within the investment portfolio, fundamental analyses are supported by credit ratings, assigned by nationally recognized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.10 Td (rating agencies or internally assigned, and by quantitative credit analyses. ) Tj ET Q q 0 0 0 rg BT 328.44 317.10 Td (The Company utilizes a credit value at risk \("V) Tj ET Q q 0 0 0 rg BT 516.36 317.10 Td (aR"\) to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.10 Td (measure default and migration risk on a monthly basis. Issuer and security level risk measures are also utilized. In the event of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.10 Td (deterioration in credit quality) Tj ET Q q 0 0 0 rg BT 147.75 293.10 Td (, the Company maintains watch lists of problem counterparties within the investment and reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.10 Td (portfolios. ) Tj ET Q q 0 0 0 rg BT 75.21 281.10 Td (The watch lists are updated based on regular credit examinations and management reviews. ) Tj ET Q q 0 0 0 rg BT 443.22 281.10 Td (The Company also performs ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.10 Td (quarterly assessments of probable expected losses in the investment portfolio. ) Tj ET Q q 0 0 0 rg BT 344.85 269.10 Td (The process is conducted on a sector basis and is intended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.10 Td (to promptly assess and identify potential problems in the portfolio and to recognize necessary impairments.) Tj ET Q endstream endobj 215 0 obj <> endobj 216 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (107) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Credit risk policies at the enterprise and operation level ensure comprehensive and consistent approaches to quantifying, evaluating, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (managing credit risk under expected and stressed conditions. ) Tj ET Q q 0 0 0 rg BT 277.08 701.10 Td (These policies define the scope of the risk, authorities, accountabilities, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (terms, and limits, and are regularly reviewed and approved by senior management and ERM. ) Tj ET Q q 0 0 0 rg BT 405.55 689.10 Td (Aggregate counterparty credit quality and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (exposure is monitored on a daily basis utilizing an enterprise-wide credit exposure information system that contains data on issuers, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (ratings, exposures, and credit limits. Exposures are tracked on a current and potential basis. Credit exposures are reported regularly to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (the ERCC and to the Finance, Investment and Risk Management Committee \(FIRMCo\). Exposures are aggregated by ultimate parent ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (across investments, reinsurance receivables, insurance products with credit risk, and derivative counterparties. ) Tj ET Q q 0 0 0 rg BT 474.49 641.10 Td (The credit database and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (reporting system are available to all key credit practitioners in the enterprise.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (The Company exercises various and dif) Tj ET Q q 0 0 0 rg BT 189.88 611.10 Td (fering methods to mitigate its credit risk exposure within its investment and reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (portfolios. Some of the reasons for mitigating credit risk include financial instability or poor credit, avoidance of arbitration or litigation, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (future uncertainty) Tj ET Q q 0 0 0 rg BT 102.21 587.10 Td (, and exposure in excess of risk tolerances. Credit risk within the investment portfolio is most commonly mitigated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (through asset sales or the use of derivative instruments. Counterparty credit risk is mitigated through the practice of entering into ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (contracts only with highly creditworthy institutions and through the practice of holding and posting of collateral. In addition, ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 533.06 563.10 Td (transactions ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 551.35 Td (cleared through a central clearing house reduce risk due to their ability to require daily variation mar) Tj ET Q q 0 0 0 rg BT 425.33 551.35 Td (gin, monitor the Company's ability to ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 539.35 Td (request additional collateral in the event of a counterparty downgrade, and be an independent valuation source. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.52 539.35 Td (Systemic credit risk is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.35 Td (mitigated through the construction of high-quality) Tj ET Q q 0 0 0 rg BT 231.09 527.35 Td (, diverse portfolios that are subject to regular underwriting of credit risks. For further ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.35 Td (discussion of the Company) Tj ET Q q 0 0 0 rg BT 142.88 515.35 Td (s investment and derivative instruments, see the Portfolio Risks and Risk Management section and Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.70 515.35 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.70 515.35 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.35 Td (Notes to Consolidated Financial Statements. Further discussion on managing and mitigating credit risk from the use of reinsurance via ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.35 Td (an enterprise security review process, see the Reinsurance as a Risk Management Strategy within the Insurance Risk Management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.35 Td (section.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.35 Td (As of December 31, 2013, the Company's only exposure to any credit concentration risk of a single issuer or counterparty greater than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.35 Td (10% of the Company's stockholders' equity) Tj ET Q q 0 0 0 rg BT 204.15 449.35 Td (, other than the U.S. government and certain U.S. government securities, was the Government ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.35 Td (of Japan and Prudential. ) Tj ET Q q 0 0 0 rg BT 132.96 437.35 Td (The Government of Japan securities represented ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.44 437.35 Td ($2.6 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.55 437.35 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.38 437.35 Td (14%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.71 437.35 Td ( of stockholders' equity) Tj ET Q q 0 0 0 rg BT 501.24 437.35 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.17 437.35 Td (3%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.50 437.35 Td ( of total ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.35 Td (invested assets. For further discussion of concentration of credit risk, see the Concentration of Credit Risk section in Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.61 425.35 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.61 425.35 Td ( of Notes to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.35 Td (Consolidated Financial Statements. ) Tj ET Q q 0 0 0 rg BT 177.69 413.35 Td (The net unsecured reinsurance recoverable from Prudential of $2.4 billion represented ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.35 Td (approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 91.76 401.35 Td (13%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.09 401.35 Td ( of stockholders' equity) Tj ET Q q 0 0 0 rg BT 202.61 401.35 Td (. For further discussion of reinsurance recoverables, see Note 7 - Reinsurance of Notes to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.35 Td (Consolidated Financial Statements.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 371.35 Td (Derivative Instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.35 Td (The Company utilizes a variety of OTC, OTC-cleared and exchange-traded derivative instruments as a part of its overall risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.35 Td (management strategy) Tj ET Q q 0 0 0 rg BT 116.09 341.35 Td (, as well as to enter into replication transactions. Derivative instruments are used to manage risk associated with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.35 Td (interest rate, equity market, credit spread, issuer default, price, and currency exchange rate risk or volatility) Tj ET Q q 0 0 0 rg BT 459.56 329.35 Td (. Replication transactions are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.35 Td (used as an economical means to synthetically replicate the characteristics and performance of assets that would be permissible ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.35 Td (investments under the Company) Tj ET Q q 0 0 0 rg BT 163.42 305.35 Td (s investment policies. For further information on the Company) Tj ET Q q 0 0 0 rg BT 416.99 305.35 Td (s use of derivatives, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.12 305.35 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.12 305.35 Td ( of Notes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.35 Td (to Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.35 Td (Derivative activities are monitored and evaluated by the Company) Tj ET Q q 0 0 0 rg BT 299.74 275.35 Td (s compliance and risk management teams and reviewed by senior ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.35 Td (management. Downgrades to the credit ratings of ) Tj ET Q q 0 0 0 rg BT 231.26 263.35 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 286.51 263.35 Td (s insurance operating companies may have adverse implications for its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.35 Td (use of derivatives including those used to hedge benefit guarantees of variable annuities. In some cases, downgrades may give derivative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.35 Td (counterparties for OTC derivatives the unilateral contractual right to cancel and settle outstanding derivative trades or require additional ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.35 Td (collateral to be posted. In addition, downgrades may result in counterparties becoming unwilling to engage in additional OTC ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.35 Td (derivatives or may require collateralization before entering into any new trades. ) Tj ET Q q 0 0 0 rg BT 352.30 215.35 Td (This will restrict the supply of derivative instruments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.35 Td (commonly used to hedge variable annuity guarantees, particularly long-dated equity derivatives and interest rate swaps. Under these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.35 Td (circumstances, the Company) Tj ET Q q 0 0 0 rg BT 149.52 191.35 Td (s operating subsidiaries could conduct hedging activity using a combination of cash, OTC-cleared and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.35 Td (exchange-traded instruments, in addition to using the available OTC derivatives.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.35 Td (The Company uses various derivative counterparties in executing its derivative transactions. ) Tj ET Q q 0 0 0 rg BT 402.88 161.35 Td (The use of counterparties creates credit risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.35 Td (that the counterparty may not perform in accordance with the contractual terms of the derivative transaction. ) Tj ET Q q 0 0 0 rg BT 467.54 149.35 Td (The Company has ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.35 Td (derivative counterparty exposure policies which limit the Company) Tj ET Q q 0 0 0 rg BT 303.93 137.35 Td (s exposure to credit risk and monitors counterparty credit exposure ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.35 Td (on a monthly basis to ensure compliance with company policies and statutory limitations. ) Tj ET Q q 0 0 0 rg BT 391.81 125.35 Td (The Company) Tj ET Q q 0 0 0 rg BT 451.52 125.35 Td (s policies with respect to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.35 Td (derivative counterparty exposure establishes market-based credit limits, favors long-term financial stability and creditworthiness of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.35 Td (counterparty and typically requires credit enhancement/credit risk reducing agreements. ) Tj ET Q q 0 0 0 rg BT 385.06 101.35 Td (The Company minimizes the credit risk of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.35 Td (derivative instruments by entering into transactions with high quality counterparties primarily rated ) Tj ET Q q 0 0 0 rg BT 430.85 89.35 Td (A) Tj ET Q q 0 0 0 rg BT 437.52 89.35 Td ( or better) Tj ET Q q 0 0 0 rg BT 473.21 89.35 Td (, which are monitored and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 77.35 Td (evaluated by the Company) Tj ET Q q 0 0 0 rg BT 141.19 77.35 Td (s risk management team and reviewed by senior management. ) Tj ET Q q 0 0 0 rg BT 392.04 77.35 Td (The Company also generally requires that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 65.35 Td (OTC derivative contracts, other than certain forward contracts, be governed by an International Swaps and Derivatives ) Tj ET Q q 0 0 0 rg BT 508.55 65.35 Td (Association ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 53.35 Td (\("ISDA"\) Master ) Tj ET Q q 0 0 0 rg BT 101.88 53.35 Td (Agreement, which is structured by legal entity and by counterparty and reduces risk by permitting the closeout and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 41.35 Td (netting of transactions upon the occurrence of certain events.) Tj ET Q endstream endobj 217 0 obj <> endobj 218 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The Company has developed credit exposure thresholds which are based upon counterparty ratings. Credit exposures are measured using ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (the market value of the derivatives, resulting in amounts owed to the Company by its counterparties or potential payment obligations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (from the Company to its counterparties. ) Tj ET Q q 0 0 0 rg BT 193.23 689.10 Td (The Company generally enters into credit support annexes in conjunction with the ISDA) Tj ET Q q 0 0 0 rg BT 547.04 689.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (agreements, which require daily collateral settlement based upon agreed upon thresholds. For purposes of daily derivative collateral ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (maintenance, credit exposures are generally quantified based on the prior business day) Tj ET Q q 0 0 0 rg BT 380.26 665.10 Td (s market value and collateral is pledged to and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (held by) Tj ET Q q 0 0 0 rg BT 60.57 653.10 Td (, or on behalf of, the Company to the extent the current value of the derivatives exceed the contractual thresholds. In accordance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (with industry standard and the contractual agreements, collateral is typically settled on the next business day) Tj ET Q q 0 0 0 rg BT 464.62 641.10 Td (. ) Tj ET Q q 0 0 0 rg BT 469.43 641.10 Td (The Company has ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (exposure to credit risk for amounts below the exposure thresholds which are uncollateralized, as well as for market fluctuations that may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (occur between contractual settlement periods of collateral movements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (For the company) Tj ET Q q 0 0 0 rg BT 102.04 599.10 Td (s domestic derivative programs, the maximum uncollateralized threshold for a derivative counterparty for a single legal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (entity is $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.94 587.10 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.94 587.10 Td (. ) Tj ET Q q 0 0 0 rg BT 85.76 587.10 Td (The Company currently transacts OTC derivatives in five legal entities that have a threshold greater than zero and therefore ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (the maximum combined threshold for a single counterparty across all legal entities that use derivatives is $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.60 575.10 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.60 575.10 Td (. In addition, the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (may have exposure to multiple counterparties in a single corporate family due to a common credit support provider) Tj ET Q q 0 0 0 rg BT 491.64 563.10 Td (. ) Tj ET Q q 0 0 0 rg BT 496.09 563.10 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.53 563.10 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 551.10 Td (, for the company) Tj ET Q q 0 0 0 rg BT 124.81 551.10 Td (s domestic derivative programs, the maximum combined threshold for all counterparties under a single credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (support provider across all legal entities that use derivatives is $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.54 539.10 Td (100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.54 539.10 Td (. Based on the contractual terms of the collateral agreements, these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (thresholds may be immediately reduced due to a downgrade in either party) Tj ET Q q 0 0 0 rg BT 333.35 527.10 Td (s credit rating. ) Tj ET Q q 0 0 0 rg BT 395.65 527.10 Td (The Company hedges a portion of its Japan ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.10 Td (exposures within the legal entity HLIKK. ) Tj ET Q q 0 0 0 rg BT 199.89 515.10 Td (The counterparty credit exposures at HLIKK generally follow the maximum uncollateralized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.10 Td (threshold of the domestic programs; however) Tj ET Q q 0 0 0 rg BT 212.44 503.10 Td (, for one counterparty) Tj ET Q q 0 0 0 rg BT 298.42 503.10 Td (, the maximum uncollateralized exposure is higher) Tj ET Q q 0 0 0 rg BT 500.31 503.10 Td (. ) Tj ET Q q 0 0 0 rg BT 505.13 503.10 Td (This counterparty ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.10 Td (maintains credit ratings of ) Tj ET Q q 0 0 0 rg BT 138.14 491.10 Td (A3 or better) Tj ET Q q 0 0 0 rg BT 186.06 491.10 Td (, and the Company actively monitors its credit standing. For further discussion, see the Derivative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.10 Td (Commitments section of Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.26 479.10 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.26 479.10 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (For the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.69 461.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.28 461.10 Td (, the Company has incurred ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.03 461.10 Td (no) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.03 461.10 Td ( losses on derivative instruments due to counterparty default.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.10 Td (In addition to counterparty credit risk, the Company may also introduce credit risk through the use of credit default swaps that are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.10 Td (entered into to manage credit exposure. Credit default swaps involve a transfer of credit risk of one or many referenced entities from one ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.10 Td (party to another in exchange for periodic payments. ) Tj ET Q q 0 0 0 rg BT 240.41 419.10 Td (The party that purchases credit protection will make periodic payments based on an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.10 Td (agreed upon rate and notional amount, and for certain transactions there will also be an upfront premium payment. ) Tj ET Q q 0 0 0 rg BT 491.72 407.10 Td (The second party) Tj ET Q q 0 0 0 rg BT 559.94 407.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.10 Td (who assumes credit risk, will typically only make a payment if there is a credit event as defined in the contract and such payment will be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (typically equal to the notional value of the swap contract less the value of the referenced security issuer) Tj ET Q q 0 0 0 rg BT 445.33 383.10 Td () Tj ET Q q 0 0 0 rg BT 448.11 383.10 Td (s debt obligation. ) Tj ET Q q 0 0 0 rg BT 519.59 383.10 Td (The notional ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (amounts of derivative contracts represent the basis upon which pay or receive amounts are calculated and are not reflective of credit risk. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.10 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 359.10 Td ( credit event is generally defined as default on contractually obligated interest or principal payments or bankruptcy of the referenced ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.10 Td (entity) Tj ET Q q 0 0 0 rg BT 53.62 347.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (The Company uses credit derivatives to purchase credit protection and to assume credit risk with respect to a single entity) Tj ET Q q 0 0 0 rg BT 517.65 329.10 Td (, referenced ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.10 Td (index, or asset pool. ) Tj ET Q q 0 0 0 rg BT 114.08 317.10 Td (The Company purchases credit protection through credit default swaps to economically hedge and manage credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.10 Td (risk of certain fixed maturity investments across multiple sectors of the investment portfolio. ) Tj ET Q q 0 0 0 rg BT 404.57 305.10 Td (The Company also enters into credit default ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.10 Td (swaps that assume credit risk as part of replication transactions. Replication transactions are used as an economical means to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.10 Td (synthetically replicate the characteristics and performance of assets that would be permissible investments under the Company) Tj ET Q q 0 0 0 rg BT 540.50 281.10 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.10 Td (investment policies. ) Tj ET Q q 0 0 0 rg BT 113.80 269.10 Td (These swaps reference investment grade single corporate issuers and baskets, which include customized diversified ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.10 Td (portfolios of corporate issuers, which are established within sector concentration limits and may be divided into tranches which possess ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.10 Td (dif) Tj ET Q q 0 0 0 rg BT 42.43 245.10 Td (ferent credit ratings.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.10 Td (As of December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 114.53 227.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 227.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.97 227.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.97 227.10 Td (, the notional amount related to credit derivatives that purchase credit protection was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.96 227.10 Td (1.3 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.07 227.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.10 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.50 215.10 Td (2.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.61 215.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 130.27 215.10 Td (, while the fair value was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.29 215.10 Td (\(10\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.95 215.10 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.39 215.10 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.39 215.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 342.05 215.10 Td (. ) Tj ET Q q 0 0 0 rg BT 349.00 215.10 Td (As of December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.03 215.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.03 215.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.47 215.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.47 215.10 Td (, the credit derivatives ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.10 Td (that purchase credit protection included notional of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.38 203.10 Td (0.4 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.49 203.10 Td ( and fair value of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.29 203.10 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.29 203.10 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.73 203.10 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.73 203.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 452.39 203.10 Td (, that are part of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.10 Td (international program hedging instruments. ) Tj ET Q q 0 0 0 rg BT 209.24 191.10 Td (As of December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.27 191.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 312.27 191.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.71 191.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.71 191.10 Td (, the notional amount related to credit derivatives that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.10 Td (assume credit risk was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.25 179.10 Td (1.9 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 170.37 179.10 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.81 179.10 Td (2.7 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.92 179.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 288.58 179.10 Td (, while the fair value was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.60 179.10 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.60 179.10 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.04 179.10 Td (\(29\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.70 179.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 500.36 179.10 Td (. For further ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.10 Td (information on credit derivatives, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.05 167.10 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 210.05 167.10 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q endstream endobj 219 0 obj <> endobj 220 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (109) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Investment ) Tj ET Q q 0 0 0 rg BT 81.77 713.25 Td (Portfolio ) Tj ET Q q 0 0 0 rg BT 122.04 713.25 Td (Risks ) Tj ET Q q 0 0 0 rg BT 147.88 713.25 Td (and ) Tj ET Q q 0 0 0 rg BT 166.50 713.25 Td (Risk ) Tj ET Q q 0 0 0 rg BT 188.46 713.25 Td (Management) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Investment Portfolio Composition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.25 Td (The following table presents the Company) Tj ET Q q 0 0 0 rg BT 204.52 677.25 Td (s fixed maturities, ) Tj ET Q q 0 0 0 rg BT 278.39 677.25 Td (AFS, by credit quality) Tj ET Q q 0 0 0 rg BT 366.63 677.25 Td (. ) Tj ET Q q 0 0 0 rg BT 373.95 677.25 Td (The average credit ratings referenced below and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (throughout this section are based on availability and the midpoint of the applicable ratings among Moody) Tj ET Q q 0 0 0 rg BT 456.13 665.25 Td (s, S&P) Tj ET Q q 0 0 0 rg BT 482.81 665.25 Td (, Fitch and Morningstar) Tj ET Q q 0 0 0 rg BT 576.70 665.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (If no rating is available from a rating agency) Tj ET Q q 0 0 0 rg BT 209.11 653.25 Td (, then an internally developed rating is used.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 575.75 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.00 575.75 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 575.75 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.00 575.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 575.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 575.75 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 575.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 547.75 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.00 547.75 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 547.75 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.00 547.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 547.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 547.75 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 547.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 519.75 204.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.00 519.75 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 519.75 43.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.00 519.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 519.75 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 519.75 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 519.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 491.75 204.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.00 491.75 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 491.75 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 339.00 491.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 395.00 491.75 55.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 491.75 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 491.75 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 623.75 m 236 623.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 236 623.75 m 296 623.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 623.75 m 339 623.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 623.75 m 395 623.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395 623.75 m 450 623.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 623.75 m 501 623.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 623.75 m 557 623.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 609.75 m 236 609.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 236 623.75 m 296 623.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 236 609.75 m 296 609.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 609.75 m 339 609.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 609.75 m 395 609.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395 609.75 m 450 609.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 609.75 m 501 609.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 609.75 m 557 609.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 575.75 m 236 575.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 236 575.75 m 296 575.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 575.75 m 339 575.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 575.75 m 395 575.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395 575.75 m 450 575.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 575.75 m 501 575.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 575.75 m 557 575.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 491.75 m 236 491.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 236 491.75 m 296 491.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 491.75 m 339 491.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 339 491.75 m 395 491.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 395 491.75 m 450 491.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 491.75 m 501 491.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 491.75 m 557 491.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 478.75 m 236 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236 478.75 m 296 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 478.75 m 339 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 339 478.75 m 395 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 395 478.75 m 450 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 478.75 m 501 478.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 478.75 m 557 478.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 226.80 628.15 Td (Fixed Maturities by Credit Quality) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 614.21 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 278.70 614.20 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.20 614.20 Td (December 31, 2012) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 580.21 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 245.00 589.20 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 256.75 580.20 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.80 589.20 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.15 580.20 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 346.95 598.20 Td (Percent of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.35 589.20 Td (Total Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 355.65 580.20 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 401.50 589.20 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 413.25 580.20 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.95 580.20 Td (Fair Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.95 598.20 Td (Percent of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.35 589.20 Td (Total Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 517.65 580.20 Td (Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 566.32 Td (United States Government/Government agencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.50 566.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.65 566.32 Td (8,231) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 566.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 312.60 566.32 Td (8,208) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.00 566.32 Td (13.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 566.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.50 566.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.65 566.32 Td (10,481) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.50 566.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.65 566.32 Td (10,975) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.00 566.32 Td (12.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 566.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 552.32 Td (AAA) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.65 552.32 Td (6,215) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 312.60 552.32 Td (6,376) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.00 552.32 Td (10.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 552.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.65 552.32 Td (8,646) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 552.32 Td (9,220) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.00 552.32 Td (10.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 552.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 538.32 Td (AA) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.65 538.32 Td (12,054) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.60 538.32 Td (12,273) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.00 538.32 Td (19.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 538.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.65 538.32 Td (14,939) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.65 538.32 Td (16,104) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.00 538.32 Td (18.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 538.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 524.32 Td (A) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.65 524.32 Td (14,777) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.60 524.32 Td (15,498) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.00 524.32 Td (24.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 524.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.65 524.32 Td (20,396) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.65 524.32 Td (22,650) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.00 524.32 Td (26.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 524.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 510.32 Td (BBB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.65 510.32 Td (15,555) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.60 510.32 Td (16,087) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.00 510.32 Td (25.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 510.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.65 510.32 Td (20,833) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.65 510.32 Td (22,689) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.00 510.32 Td (26.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 510.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 496.32 Td (BB & below) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.65 496.32 Td (3,809) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 312.60 496.32 Td (3,915) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.00 496.32 Td (6.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 496.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.65 496.32 Td (4,452) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 496.32 Td (4,284) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.00 496.32 Td (5.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 496.32 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 482.48 Td (Total fixed maturities, AFS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 238.50 482.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 264.65 482.48 Td (60,641) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.60 482.48 Td (62,357) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 369.50 482.48 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.50 482.48 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 397.50 482.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.65 482.48 Td (79,747) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.65 482.48 Td (85,922) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 531.50 482.48 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.50 482.48 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (The movement in the overall credit quality of the Company) Tj ET Q q 0 0 0 rg BT 272.27 461.25 Td (s portfolio was primarily attributable to the sale of the Retirement Plans and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (Individual Life businesses in January 2013. Refer to Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.28 449.25 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.28 449.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.61 449.25 Td (Business Dispositions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.68 449.25 Td ( of Notes to Consolidated Financial Statements for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (further discussion of these transactions. Excluding the impact of the sales, United States government and government agencies declined ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (due to the sale of agency RMBS securities associated with the termination of repurchase agreements, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.25 425.25 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.25 425.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.58 425.25 Td (Investments and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (Derivative Instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 123.42 413.25 Td ( of Notes to Consolidated Financial Statements. Fixed maturities, FVO, are not included in the above table. For ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (further discussion on fair value option securities, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.44 401.25 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.44 401.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.77 401.25 Td (Fair ) Tj ET Q q 0 0 0 rg BT 298.19 401.25 Td (V) Tj ET Q q 0 0 0 rg BT 304.31 401.25 Td (alue Measurements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.78 401.25 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q endstream endobj 221 0 obj <> endobj 222 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.65 20.10 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 20.10 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The following table presents the Company) Tj ET Q q 0 0 0 rg BT 204.52 713.10 Td (s ) Tj ET Q q 0 0 0 rg BT 210.36 713.10 Td (AFS securities by type, as well as fixed maturities, FVO.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 632.60 134.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 632.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 632.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 632.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 632.60 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 632.60 33.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 632.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 632.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 632.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 632.60 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 548.00 632.60 33.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 608.60 134.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 608.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 608.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 608.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 608.60 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 608.60 33.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 608.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 608.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 608.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 608.60 43.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 548.00 608.60 33.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 584.60 134.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 584.60 44.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 584.60 44.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 584.60 44.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 584.60 42.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 584.60 33.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 584.60 44.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 584.60 44.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 584.60 44.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 584.60 43.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 548.00 584.60 33.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 534.60 134.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 534.60 44.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 534.60 44.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 534.60 44.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 534.60 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 534.60 33.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 534.60 44.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 534.60 44.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 534.60 44.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 534.60 43.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 548.00 534.60 33.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 499.60 134.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 499.60 44.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 499.60 44.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 499.60 44.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 499.60 42.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 499.60 33.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 499.60 44.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 499.60 44.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 499.60 44.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 499.60 43.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 548.00 499.60 33.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 464.60 134.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 464.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 464.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 464.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 298.00 464.60 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 464.60 33.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 464.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.00 464.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 464.60 44.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 464.60 43.00 -12.00 re f /GS0 gs 0.8 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l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 254 672.6 m 298 672.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298 672.6 m 340 672.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340 672.6 m 373 672.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373 672.6 m 417 672.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417 672.6 m 461 672.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 672.6 m 505 672.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 672.6 m 548 672.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 548 672.6 m 581 672.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 632.6 m 166 632.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 166 632.6 m 210 632.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 210 632.6 m 254 632.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 254 632.6 m 298 632.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298 632.6 m 340 632.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340 632.6 m 373 632.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373 632.6 m 417 632.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417 632.6 m 461 632.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 632.6 m 505 632.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 632.6 m 548 632.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 548 632.6 m 581 632.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 178.60000000000002 m 166 178.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 166 178.60000000000002 m 210 178.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 210 178.60000000000002 m 254 178.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 254 178.60000000000002 m 298 178.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298 178.60000000000002 m 340 178.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340 178.60000000000002 m 373 178.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373 178.60000000000002 m 417 178.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417 178.60000000000002 m 461 178.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 178.60000000000002 m 505 178.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 178.60000000000002 m 548 178.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 548 178.60000000000002 m 581 178.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 130.60000000000002 m 166 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 166 130.60000000000002 m 210 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 210 130.60000000000002 m 254 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 254 130.60000000000002 m 298 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298 130.60000000000002 m 340 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340 130.60000000000002 m 373 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373 130.60000000000002 m 417 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417 130.60000000000002 m 461 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 130.60000000000002 m 505 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 130.60000000000002 m 548 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 548 130.60000000000002 m 581 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 118.60000000000002 m 166 118.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 166 118.60000000000002 m 210 118.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 210 118.60000000000002 m 254 118.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 254 118.60000000000002 m 298 118.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298 118.60000000000002 m 340 118.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340 130.60000000000002 m 373 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340 118.60000000000002 m 373 118.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373 118.60000000000002 m 417 118.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417 118.60000000000002 m 461 118.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 118.60000000000002 m 505 118.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 118.60000000000002 m 548 118.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 548 130.60000000000002 m 581 130.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 548 118.60000000000002 m 581 118.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 106.60000000000002 m 166 106.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 166 106.60000000000002 m 210 106.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 210 106.60000000000002 m 254 106.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 254 106.60000000000002 m 298 106.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 298 106.60000000000002 m 340 106.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340 106.60000000000002 m 373 106.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373 106.60000000000002 m 417 106.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 417 106.60000000000002 m 461 106.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 106.60000000000002 m 505 106.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 505 106.60000000000002 m 548 106.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 548 106.60000000000002 m 581 106.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 94.60000000000002 m 166 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166 94.60000000000002 m 210 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 94.60000000000002 m 254 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254 94.60000000000002 m 298 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 298 94.60000000000002 m 340 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 94.60000000000002 m 373 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373 94.60000000000002 m 417 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417 94.60000000000002 m 461 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 94.60000000000002 m 505 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 94.60000000000002 m 548 94.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 548 94.60000000000002 m 581 94.60000000000002 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 274.80 688.68 Td (Securities by Type) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 34.50 676.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.70 676.00 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.20 676.00 Td (December 31, 2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 34.50 636.85 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 175.00 652.83 Td (Cost or) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 169.25 644.83 Td (Amortized) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 179.70 636.83 Td (Cost) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 221.55 652.83 Td (Gross) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 212.90 644.83 Td (Unrealized) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 221.45 636.83 Td (Gains) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 265.55 652.83 Td (Gross) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 256.90 644.83 Td (Unrealized) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 264.35 636.83 Td (Losses) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 300.65 636.83 Td (Fair Value) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 342.95 660.83 Td (Percent) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 342.95 652.83 Td (ofTotal) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 348.70 644.83 Td (Fair) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 346.35 636.83 Td (Value) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 382.00 652.83 Td (Cost or) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 376.25 644.83 Td (Amortized) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 386.70 636.83 Td (Cost) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 428.55 652.83 Td (Gross) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 419.90 644.83 Td (Unrealized) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 428.45 636.83 Td (Gains) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 472.55 652.83 Td (Gross) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 463.90 644.83 Td (Unrealized) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 471.35 636.83 Td (Losses) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 508.15 636.83 Td (Fair Value) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 550.95 660.83 Td (Percent) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 550.95 652.83 Td (ofTotal) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 556.70 644.83 Td (Fair) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 554.35 636.83 Td (Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 623.22 Td (ABS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 611.22 Td (Consumer loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 168.50 611.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 611.22 Td (1,982) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.50 611.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 611.22 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.50 611.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 611.22 Td (\(48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 611.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.50 611.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 611.22 Td (1,945) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 611.22 Td (3.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 611.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.50 611.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 611.22 Td (2,234) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.50 611.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 611.22 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.50 611.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.80 611.22 Td (\(116) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 611.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.50 611.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 611.22 Td (2,147) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 611.22 Td (2.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 611.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 599.22 Td (Small business) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.15 599.22 Td (194) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.15 599.22 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 599.22 Td (\(16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 599.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 599.22 Td (181) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 599.22 Td (0.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 599.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 599.22 Td (336) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 599.22 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 599.22 Td (\(67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 599.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 599.22 Td (276) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 599.22 Td (0.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 599.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 587.22 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.15 587.22 Td (228) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 587.22 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.15 587.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 587.22 Td (239) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 587.22 Td (0.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 587.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 587.22 Td (313) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 587.22 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 587.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 587.22 Td (340) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 587.22 Td (0.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 587.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 574.27 Td (Collateralized debt obligations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 564.27 Td (\("CDOs"\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 549.27 Td (Collateralized loan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 539.27 Td (obligations \(CLOs\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 539.27 Td (1,781) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.15 539.27 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 539.32 Td (\(34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 539.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 539.27 Td (1,750) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 539.27 Td (2.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 539.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 539.27 Td (2,197) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 539.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 539.32 Td (\(68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 539.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 539.27 Td (2,129) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 539.27 Td (2.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 539.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 525.17 Td (Commercial real estate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 515.17 Td (\("CREs"\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.15 516.27 Td (176) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 516.27 Td (88) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 516.32 Td (\(16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 516.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 516.27 Td (248) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 516.27 Td (0.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 516.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 516.27 Td (420) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 516.27 Td (44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 516.32 Td (\(80) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 516.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 516.27 Td (384) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 516.27 Td (0.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 516.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 502.22 Td (Other [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.15 502.22 Td (383) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 502.22 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.80 502.22 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 502.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 502.22 Td (389) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 502.22 Td (0.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 502.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 502.22 Td (553) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 502.22 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 502.22 Td (\(11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 502.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 502.22 Td (527) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 502.22 Td (0.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 502.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 490.17 Td (Commercial mortgage-backed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 480.17 Td (securities \("CMBS"\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 467.22 Td (Agency backed [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 467.22 Td (1,068) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 467.22 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 467.22 Td (\(12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 467.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 467.22 Td (1,076) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 467.22 Td (1.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 467.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 467.22 Td (962) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 467.22 Td (79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 467.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 467.22 Td (1,041) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 467.22 Td (1.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 467.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 455.22 Td (Bonds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 455.22 Td (2,836) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.15 455.22 Td (168) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 455.22 Td (\(31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 455.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 455.22 Td (2,973) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 455.22 Td (4.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 455.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 455.22 Td (4,535) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 455.22 Td (293) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.80 455.22 Td (\(160) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 455.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 455.22 Td (4,668) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 455.22 Td (5.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 455.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 443.22 Td (Interest only \(IOs\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.15 443.22 Td (384) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 443.22 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 443.22 Td (\(15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 443.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 443.22 Td (397) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 443.22 Td (0.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 443.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 443.22 Td (586) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 443.22 Td (45) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 443.22 Td (\(19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 443.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 443.22 Td (612) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 443.22 Td (0.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 443.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 431.22 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 419.22 Td (Basicindustry) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 419.22 Td (2,085) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.15 419.22 Td (106) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 419.22 Td (\(38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 419.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 419.22 Td (2,153) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 419.22 Td (3.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 419.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 419.22 Td (3,741) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 419.22 Td (369) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.80 419.22 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 419.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 419.22 Td (4,104) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 419.22 Td (4.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 419.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 407.22 Td (Capital goods) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 407.22 Td (2,077) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.15 407.22 Td (161) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 407.22 Td (\(14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 407.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 407.22 Td (2,224) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 407.22 Td (3.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 407.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 407.22 Td (3,109) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 407.22 Td (389) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.80 407.22 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 407.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 407.22 Td (3,496) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 407.22 Td (4.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 407.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 395.22 Td (Consumer cyclical) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 395.22 Td (1,801) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.15 395.22 Td (119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 395.22 Td (\(17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 395.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 395.22 Td (1,903) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 395.22 Td (3.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 395.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 395.22 Td (2,423) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 395.22 Td (266) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.80 395.22 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 395.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 395.22 Td (2,684) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 395.22 Td (3.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 395.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 383.22 Td (Consumer non-cyclical) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 383.22 Td (3,600) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.15 383.22 Td (288) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 383.22 Td (\(21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 383.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 383.22 Td (3,867) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 383.22 Td (6.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 383.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 383.22 Td (5,927) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 383.22 Td (759) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.80 383.22 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 383.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 383.22 Td (6,679) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 383.22 Td (7.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 383.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 371.22 Td (Energy) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 371.22 Td (2,384) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.15 371.22 Td (174) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 371.22 Td (\(17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 371.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 371.22 Td (2,541) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 371.22 Td (4.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 371.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 371.22 Td (3,816) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 371.22 Td (499) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.80 371.22 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 371.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 371.22 Td (4,312) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 371.22 Td (5.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 371.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 359.22 Td (Financial services) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 359.22 Td (5,044) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.15 359.22 Td (287) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.80 359.22 Td (\(145) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 359.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 359.22 Td (5,186) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 359.22 Td (8.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 359.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 359.22 Td (7,230) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 359.22 Td (604) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.80 359.22 Td (\(211) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 359.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 359.22 Td (7,623) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 359.22 Td (8.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 359.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 347.22 Td (Tech./comm.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 347.22 Td (3,223) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.15 347.22 Td (223) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 347.22 Td (\(28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 347.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 347.22 Td (3,418) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 347.22 Td (5.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 347.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 347.22 Td (3,971) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 347.22 Td (526) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 347.22 Td (\(16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 347.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 347.22 Td (4,481) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 347.22 Td (5.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 347.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 335.22 Td (Transportation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.15 335.22 Td (972) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 335.22 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 335.22 Td (\(13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 335.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 335.22 Td (1,024) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 335.22 Td (1.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 335.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 335.22 Td (1,393) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 335.22 Td (163) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.80 335.22 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 335.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 335.22 Td (1,554) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 335.22 Td (1.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 335.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 323.22 Td (Utilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 323.22 Td (5,605) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.15 323.22 Td (386) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 323.22 Td (\(51) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 323.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 323.22 Td (5,940) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 323.22 Td (9.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 323.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 323.22 Td (7,792) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.65 323.22 Td (1,017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 323.22 Td (\(24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 323.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 323.22 Td (8,785) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 323.22 Td (10.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 323.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 311.22 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.15 311.22 Td (222) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 311.22 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.80 311.22 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 311.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 311.22 Td (234) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 311.22 Td (0.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 311.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 311.22 Td (292) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 311.22 Td (39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 311.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 311.22 Td (331) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 311.22 Td (0.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 311.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 299.22 Td (Foreign govt./govt. agencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 299.22 Td (4,228) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 299.22 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.80 299.22 Td (\(176) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 299.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 299.22 Td (4,104) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 299.22 Td (6.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 299.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 299.22 Td (3,985) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 299.22 Td (191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 299.22 Td (\(40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 299.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 299.22 Td (4,136) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 299.22 Td (4.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 299.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 287.22 Td (Municipal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 275.22 Td (Taxable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 275.22 Td (1,299) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 275.22 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 275.22 Td (\(67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 275.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 275.22 Td (1,264) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 275.22 Td (2.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 275.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 275.22 Td (2,235) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 275.22 Td (246) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 275.22 Td (\(15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 275.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 275.22 Td (2,466) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 275.22 Td (2.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 275.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 263.22 Td (Tax-exempt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.60 263.22 Td (10,633) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.15 263.22 Td (393) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.80 263.22 Td (\(117) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 263.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.60 263.22 Td (10,909) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.00 263.22 Td (17.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 263.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.60 263.22 Td (10,766) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.65 263.22 Td (1,133) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.80 263.22 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 263.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.60 263.22 Td (11,895) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 263.22 Td (13.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 263.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 243.27 Td (RMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 229.22 Td (Agency) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 229.22 Td (3,366) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 229.22 Td (59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 229.22 Td (\(38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 229.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 229.22 Td (3,387) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 229.22 Td (5.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 229.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 229.22 Td (5,906) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 229.22 Td (259) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.80 229.22 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 229.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 229.22 Td (6,162) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 229.22 Td (7.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 229.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 217.22 Td (Non-agency) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.15 217.22 Td (86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 217.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.15 217.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.15 217.22 Td (86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 217.22 Td (0.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 217.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.15 217.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 217.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 217.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.15 217.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.50 217.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 217.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 205.22 Td (Alt-A) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.15 205.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 205.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.15 205.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.15 205.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.50 205.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 205.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.15 205.22 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 205.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.80 205.22 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 205.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.15 205.22 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.50 205.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 205.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 193.22 Td (Sub-prime) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 193.22 Td (1,187) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 193.22 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 193.22 Td (\(44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 193.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 193.22 Td (1,174) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 193.22 Td (1.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 193.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 193.22 Td (1,374) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 193.22 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.80 193.22 Td (\(129) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 193.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 193.22 Td (1,281) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 193.22 Td (1.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 193.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 181.22 Td (U.S. Treasuries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.65 181.22 Td (3,797) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.15 181.22 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 181.22 Td (\(59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 181.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.60 181.22 Td (3,745) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.00 181.22 Td (6.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 181.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.65 181.22 Td (3,613) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 181.22 Td (175) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 181.22 Td (\(16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 181.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.60 181.22 Td (3,772) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 181.22 Td (4.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 181.22 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 169.33 Td (Fixed maturities, AFS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 169.33 Td (60,641) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 227.65 169.33 Td (2,746) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 268.30 169.38 Td (\(1,028) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.15 169.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.60 169.33 Td (62,357) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 347.50 169.33 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.50 169.33 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 385.60 169.33 Td (79,747) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.65 169.33 Td (7,211) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 475.30 169.38 Td (\(1,005) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.15 169.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.60 169.33 Td (85,922) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 555.50 169.33 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.50 169.33 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 157.22 Td (Equity securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 145.22 Td (Financial services) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.15 145.22 Td (233) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 145.22 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 145.22 Td (\(29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 145.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 145.22 Td (215) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.00 145.22 Td (24.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 145.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 145.22 Td (331) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 145.22 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 145.22 Td (\(42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 145.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 145.22 Td (304) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 145.22 Td (34.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 145.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 133.22 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.15 133.22 Td (617) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.15 133.22 Td (56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.80 133.22 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 133.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 133.22 Td (653) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.00 133.22 Td (75.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 133.22 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.15 133.22 Td (535) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 133.22 Td (66) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 133.22 Td (\(15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 133.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 133.22 Td (586) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 133.22 Td (65.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 133.22 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 121.33 Td (Equity securities, AFS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 191.15 121.33 Td (850) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 240.15 121.33 Td (67) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 280.80 121.38 Td (\(49) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.15 121.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.15 121.33 Td (868) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 347.50 121.33 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.50 121.33 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.15 121.33 Td (866) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.15 121.33 Td (81) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.80 121.38 Td (\(57) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.15 121.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 529.15 121.33 Td (890) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 555.50 121.33 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.50 121.33 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 109.33 Td (Total AFS securities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 168.50 109.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 109.33 Td (61,491) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 212.50 109.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 227.65 109.33 Td (2,813) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 256.50 109.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 268.30 109.38 Td (\(1,077) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 294.15 109.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.50 109.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.60 109.33 Td (63,225) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 375.50 109.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 385.60 109.33 Td (80,613) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.50 109.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.65 109.33 Td (7,292) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.50 109.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 475.30 109.38 Td (\(1,062) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.15 109.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.50 109.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.60 109.33 Td (86,812) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 97.33 Td (Fixed maturities, FVO) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.50 97.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.15 97.33 Td (844) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.50 97.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.60 97.33 Td (1,087) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 78.30 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 78.30 Td (Gr) Tj ET Q q 0 0 0 rg BT 59.17 78.30 Td (oss unr) Tj ET Q q 0 0 0 rg BT 85.09 78.30 Td (ealized gains \(losses\) exclude the fair value of bifur) Tj ET Q q 0 0 0 rg BT 270.72 78.30 Td (cated embedded derivative featur) Tj ET Q q 0 0 0 rg BT 390.59 78.30 Td (es of certain securities. Changes in value ar) Tj ET Q q 0 0 0 rg BT 548.73 78.30 Td (e ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 67.50 Td (r) Tj ET Q q 0 0 0 rg BT 52.67 67.50 Td (ecor) Tj ET Q q 0 0 0 rg BT 68.33 67.50 Td (ded in net r) Tj ET Q q 0 0 0 rg BT 109.23 67.50 Td (ealized capital gains \(losses\).) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 56.70 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 56.70 Td (Includes securities with pools of loans issued by the Small Business ) Tj ET Q q 0 0 0 rg BT 294.57 56.70 Td (Administration which ar) Tj ET Q q 0 0 0 rg BT 382.24 56.70 Td (e backed by the full faith and cr) Tj ET Q q 0 0 0 rg BT 496.13 56.70 Td (edit of the U.S. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 45.90 Td (government.) Tj ET Q endstream endobj 223 0 obj <> endobj 224 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.85 20.10 Td (1) Tj ET Q q 0 0 0 rg BT 303.48 20.10 Td (1) Tj ET Q q 0 0 0 rg BT 308.11 20.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.80 Td (The overall decrease in ) Tj ET Q q 0 0 0 rg BT 126.45 701.80 Td (AFS and FVO securities is attributed to the sales of the Retirement Plans and Individual Life businesses in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.80 Td (January) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.60 689.80 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 65.10 689.80 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.10 689.80 Td (. Refer to Note 2 - Business Dispositions of Notes to Consolidated Financial Statements for further discussion of these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.80 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 86.58 677.80 Td (The Company continues to invest in a diversified portfolio that is primarily comprised of investment grade securities. Due ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.80 Td (to the type of securities transferred in connection with the sold businesses, a higher percentage of securities held at December 31, 2013 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.80 Td (were in tax-exempt municipals, U.S. ) Tj ET Q q 0 0 0 rg BT 180.17 653.80 Td (T) Tj ET Q q 0 0 0 rg BT 185.93 653.80 Td (reasuries, and foreign and U.S. government agency securities and a lower percentage in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.80 Td (corporates. ) Tj ET Q q 0 0 0 rg BT 80.09 641.80 Td (Apart from the impact of the business sales, during ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.71 641.80 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.71 641.80 Td (, the Company sold agency RMBS associated with repurchase ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.80 Td (agreements and modestly increased allocations to emer) Tj ET Q q 0 0 0 rg BT 251.79 629.80 Td (ging market and high yield securities, which of) Tj ET Q q 0 0 0 rg BT 439.90 629.80 Td (fer attractive risk-adjusted returns. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.80 Td (For further information on repurchase agreements, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.36 617.80 Td (6 - Investments and Derivative Instruments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.87 617.80 Td (of Notes to Consolidated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.80 Td (Financial Statements. ) Tj ET Q q 0 0 0 rg BT 119.91 605.80 Td (The Company's ) Tj ET Q q 0 0 0 rg BT 184.49 605.80 Td (AFS net unrealized gain position declined primarily due to an increase in interest rates and the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.80 Td (disposition of the Retirement Plans and Individual Life businesses, as discussed above. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.80 Td (Fixed maturities, FVO, primarily represents Japan government securities supporting the Japan fixed annuity product, as well as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.80 Td (securities containing an embedded credit derivative for which the Company elected the fair value option. ) Tj ET Q q 0 0 0 rg BT 453.39 563.80 Td (The underlying credit risk of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.80 Td (the securities containing credit derivatives are primarily investment grade CRE CDOs. For further discussion on fair value option ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.80 Td (securities, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 111.47 539.80 Td (5 - Fair ) Tj ET Q q 0 0 0 rg BT 143.23 539.80 Td (V) Tj ET Q q 0 0 0 rg BT 149.34 539.80 Td (alue Measurements ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 229.31 539.80 Td (of Notes to Consolidated Financial Statements.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 521.80 Td (Eur) Tj ET Q q 0 0 0 rg BT 46.13 521.80 Td (opean Exposur) Tj ET Q q 0 0 0 rg BT 106.03 521.80 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.80 Td (Although there has been continued improvement in fundamental conditions in Europe, certain economies have experienced adverse ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.80 Td (economic conditions that were precipitated in part by elevated unemployment rates and government debt levels.) Tj ET Q q 0 0 0 rg BT 481.35 491.80 Td (As a result, in the past ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.80 Td (issuers in several European countries experienced credit deterioration and rating downgrades and a reduced ability to access capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.80 Td (markets and/or higher borrowing costs. ) Tj ET Q q 0 0 0 rg BT 192.86 467.80 Td (Austerity measures aimed at reducing sovereign debt levels, along with steps taken by the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.80 Td (European Central Bank to provide liquidity and credit support to certain countries issuing debt, have helped to stabilize markets. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.80 Td (addition, the European economy has experienced two consecutive quarters of positive, although weak, growth. In general, these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.80 Td (economies continue to show signs of stabilization, including improved credit and reduced borrowing costs. Further contraction of gross ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.80 Td (domestic product along with elevated unemployment levels may continue to put pressure on sovereign debt.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.80 Td (The Company manages the credit risk associated with the European securities within the investment portfolio on an on-going basis using ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.80 Td (several processes which are supported by macroeconomic analysis and issuer credit analysis. For additional details regarding the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.80 Td (Company) Tj ET Q q 0 0 0 rg BT 73.17 377.80 Td (s management of credit risk, see the Credit Risk section of this MD&A. ) Tj ET Q q 0 0 0 rg BT 362.10 377.80 Td (The Company periodically considers alternate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.80 Td (scenarios, including a base-case and both a positive and negative tail scenarios that includes a partial or full break-up of the Eurozone. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.80 Td (The outlook for key factors is evaluated, including the economic prospects for key countries, the potential for the spread of sovereign ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.80 Td (debt contagion, and the likelihood that policymakers and politicians pursue suf) Tj ET Q q 0 0 0 rg BT 346.52 341.80 Td (ficient fiscal discipline and introduce appropriate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.80 Td (backstops. Given the inherent uncertainty in the outcome of developments in the Eurozone, however) Tj ET Q q 0 0 0 rg BT 433.48 329.80 Td (, the Company has been focused on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.80 Td (controlling both absolute levels of exposure and the composition of that exposure through both bond and derivative transactions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.80 Td (The Company has limited direct European exposure, totaling only ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.10 299.80 Td (5%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 311.43 299.80 Td ( of total invested assets as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.35 299.80 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.93 299.80 Td (. ) Tj ET Q q 0 0 0 rg BT 511.75 299.80 Td (The following ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.80 Td (tables present the Company) Tj ET Q q 0 0 0 rg BT 145.08 287.80 Td (s European securities included in the Securities by ) Tj ET Q q 0 0 0 rg BT 348.74 287.80 Td (T) Tj ET Q q 0 0 0 rg BT 354.15 287.80 Td (ype table above. ) Tj ET Q q 0 0 0 rg BT 421.71 287.80 Td (The Company identifies exposures ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.80 Td (with the issuers) Tj ET Q q 0 0 0 rg BT 96.30 275.80 Td ( ultimate parent country of domicile, which may not be the country of the security issuer) Tj ET Q q 0 0 0 rg BT 449.54 275.80 Td (. Certain European countries ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.80 Td (were separately listed below) Tj ET Q q 0 0 0 rg BT 144.42 263.80 Td (, specifically) Tj ET Q q 0 0 0 rg BT 194.85 263.80 Td (, Greece, Italy) Tj ET Q q 0 0 0 rg BT 250.84 263.80 Td (, Ireland, Portugal and Spain \(GIIPS\), because of the current significant ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.80 Td (economic strains persisting in these countries. ) Tj ET Q q 0 0 0 rg BT 217.67 251.80 Td (The criteria used for identifying the countries separately listed includes countries on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.80 Td (iT) Tj ET Q q 0 0 0 rg BT 40.04 239.80 Td (raxx SovX ) Tj ET Q q 0 0 0 rg BT 85.41 239.80 Td (W) Tj ET Q q 0 0 0 rg BT 94.04 239.80 Td (estern Europe Series 6 index with credit default spreads that exceed their respective index level as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.17 239.80 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.75 239.80 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.80 Td (an S&P) Tj ET Q q 0 0 0 rg BT 61.97 227.80 Td ( credit quality rating of BBB+ or below) Tj ET Q q 0 0 0 rg BT 219.43 227.80 Td (, and a gross domestic product \("GDP"\) greater than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.87 227.80 Td ($200 billion.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.98 227.80 Td ( ) Tj ET Q endstream endobj 225 0 obj <> endobj 226 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.65 20.10 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 20.10 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The following tables present the Company) Tj ET Q q 0 0 0 rg BT 204.52 713.10 Td (s European securities included in the Securities by ) Tj ET Q q 0 0 0 rg BT 408.17 713.10 Td (T) Tj ET Q q 0 0 0 rg BT 413.58 713.10 Td (ype table above.) 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0 j 3 M 483 684.6 m 535 684.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 535 684.6 m 581 684.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 195 664.6 m 245 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245 664.6 m 291 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 291 664.6 m 341 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 664.6 m 387 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 387 664.6 m 437 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 664.6 m 483 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483 664.6 m 535 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 535 664.6 m 581 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 643.6 m 195 643.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 195 643.6 m 245 643.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245 643.6 m 291 643.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 291 643.6 m 341 643.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 643.6 m 387 643.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 387 643.6 m 437 643.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 643.6 m 483 643.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483 643.6 m 535 643.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 535 643.6 m 581 643.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 583.6 m 195 583.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 195 583.6 m 245 583.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 245 583.6 m 291 583.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 291 583.6 m 341 583.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 583.6 m 387 583.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 387 583.6 m 437 583.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 583.6 m 483 583.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483 583.6 m 535 583.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 535 583.6 m 581 583.6 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341 547.6 m 387 547.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 387 547.6 m 437 547.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 547.6 m 483 547.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 483 547.6 m 535 547.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 535 547.6 m 581 547.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 523.6 m 195 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 195 523.6 m 245 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245 523.6 m 291 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 523.6 m 341 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 523.6 m 387 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 523.6 m 437 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 523.6 m 483 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 483 523.6 m 535 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 535 523.6 m 581 523.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 269.70 688.00 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 202.60 676.00 Td (Corporate & Equity,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 204.60 667.05 Td (AFS Non-Finan. [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 298.60 676.00 Td (Corporate & Equity,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 309.10 667.05 Td (AFS Financials) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 394.80 676.00 Td (Foreign Govt./ Govt.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.50 667.05 Td (Agencies) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.65 669.05 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 199.00 656.00 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 210.75 647.00 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 259.30 656.00 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 256.65 647.00 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 295.00 656.00 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.75 647.00 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 355.30 656.00 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 352.65 647.00 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.00 656.00 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 402.75 647.00 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 451.30 656.00 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.65 647.00 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 488.00 656.00 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.75 647.00 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.30 656.00 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.65 647.00 Td (Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 634.22 Td (Italy) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 197.50 634.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.15 634.22 Td (2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 247.50 634.86 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 283.00 634.86 Td (2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 293.50 634.86 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 328.50 634.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 343.50 634.86 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 374.50 634.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 389.50 634.86 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 424.50 634.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 439.50 634.86 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.50 634.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 485.50 634.86 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 527.00 634.86 Td (2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 537.50 634.86 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 573.00 634.86 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 622.22 Td (Spain [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.15 622.22 Td (35) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.50 622.86 Td (36) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 328.50 622.86 Td (21) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 374.50 622.86 Td (21) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 424.50 622.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.50 622.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 522.50 622.86 Td (56) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 568.50 622.86 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 610.22 Td (Ireland) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.15 610.22 Td (47) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.50 610.86 Td (48) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 333.00 610.86 Td (3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 379.00 610.86 Td (3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 424.50 610.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.50 610.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 522.50 610.86 Td (50) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 568.50 610.86 Td (51) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 598.22 Td (Portugal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.15 598.22 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.50 598.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 328.50 598.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 374.50 598.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 424.50 598.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.50 598.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 522.50 598.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 568.50 598.86 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 586.22 Td (Greece) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.15 586.22 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.50 586.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 328.50 586.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 374.50 586.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 424.50 586.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 470.50 586.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 522.50 586.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 568.50 586.86 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 574.33 Td (Higher risk) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 231.15 574.33 Td (84) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 278.50 575.00 Td (86) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 328.50 575.00 Td (24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 374.50 575.00 Td (24) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.50 575.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 470.50 575.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.00 575.00 Td (108) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 564.00 575.00 Td (110) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 562.33 Td (Europe excluding higher risk) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 218.65 562.33 Td (3,083) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 267.25 563.00 Td (3,304) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.25 563.00 Td (1,015) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.25 563.00 Td (1,074) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.00 563.00 Td (634) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.00 563.00 Td (634) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 511.25 563.00 Td (4,732) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 557.25 563.00 Td (5,012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 550.33 Td (Total Europe) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 197.50 550.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 218.65 550.33 Td (3,167) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 247.50 551.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 267.25 551.00 Td (3,390) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 293.50 551.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.25 551.00 Td (1,039) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 343.50 551.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.25 551.00 Td (1,098) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.50 551.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.00 551.00 Td (634) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.50 551.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.00 551.00 Td (634) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.50 551.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 511.25 551.00 Td (4,840) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.50 551.00 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 557.25 551.00 Td (5,122) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 538.28 Td (Europe exposure net of credit) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 528.28 Td (default swap protection [2]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.50 528.05 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 511.25 528.05 Td (4,650) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.50 528.05 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 557.25 528.05 Td (5,121) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 449.60 186.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 449.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 449.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 449.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 449.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 449.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 449.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 449.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 449.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 423.60 186.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 423.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 423.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 423.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 423.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 423.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 423.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 423.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 423.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 397.60 186.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 397.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 397.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 397.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 397.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 397.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 397.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 397.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 397.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 371.60 186.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 371.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 371.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 371.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 371.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 371.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 371.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 371.60 53.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 371.60 37.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 345.60 186.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 345.60 53.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 345.60 37.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 345.60 53.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 361.00 345.60 37.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 345.60 53.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 345.60 37.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 345.60 53.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 541.00 345.60 37.00 -21.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 494.6 m 218 494.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 218 494.6 m 271 494.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 271 494.6 m 308 494.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308 494.6 m 361 494.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 494.6 m 398 494.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 398 494.6 m 451 494.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 494.6 m 488 494.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 494.6 m 541 494.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 494.6 m 578 494.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 218 470.6 m 271 470.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 271 470.6 m 308 470.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308 470.6 m 361 470.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 470.6 m 398 470.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 398 470.6 m 451 470.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 470.6 m 488 470.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 470.6 m 541 470.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 470.6 m 578 470.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 449.6 m 218 449.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 218 449.6 m 271 449.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 271 449.6 m 308 449.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308 449.6 m 361 449.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 449.6 m 398 449.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 398 449.6 m 451 449.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 449.6 m 488 449.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 449.6 m 541 449.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 449.6 m 578 449.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 384.6 m 218 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 218 384.6 m 271 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 271 384.6 m 308 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308 384.6 m 361 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 384.6 m 398 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 398 384.6 m 451 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 384.6 m 488 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 384.6 m 541 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 384.6 m 578 384.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 358.6 m 218 358.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 218 358.6 m 271 358.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 271 358.6 m 308 358.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308 358.6 m 361 358.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 358.6 m 398 358.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 398 358.6 m 451 358.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 358.6 m 488 358.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 358.6 m 541 358.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 358.6 m 578 358.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 345.6 m 218 345.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 218 345.6 m 271 345.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 271 345.6 m 308 345.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 308 345.6 m 361 345.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 361 345.6 m 398 345.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 398 345.6 m 451 345.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 345.6 m 488 345.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 345.6 m 541 345.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 541 345.6 m 578 345.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 324.6 m 218 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218 324.6 m 271 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 324.6 m 308 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308 324.6 m 361 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 361 324.6 m 398 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 324.6 m 451 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 324.6 m 488 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 324.6 m 541 324.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 541 324.6 m 578 324.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 268.20 499.00 Td (December 31, 2012) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 475.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 222.60 484.05 Td (Corporate & Equity,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 224.60 475.05 Td (AFS Non-Finan. [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 312.60 484.05 Td (Corporate & Equity,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.10 475.05 Td (AFS Financials) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 402.80 484.05 Td (Foreign Govt./ Govt.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.50 475.05 Td (Agencies) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.65 475.05 Td (Total) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 454.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 223.50 462.00 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 235.25 453.00 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 280.80 462.00 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 278.15 453.00 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.50 462.00 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 325.25 453.00 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.80 462.00 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 368.15 453.00 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 403.50 462.00 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.25 453.00 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.80 462.00 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.15 453.00 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.50 462.00 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.25 453.00 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 550.80 462.00 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 548.15 453.00 Td (Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 440.17 Td (Italy) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.50 440.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.15 440.17 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.50 440.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.15 440.17 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.50 440.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 440.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 440.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 440.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.50 440.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 440.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.50 440.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 440.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.50 440.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.15 440.17 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.50 440.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.15 440.17 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 427.17 Td (Spain [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.15 427.17 Td (53) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 427.17 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 427.17 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 427.17 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 427.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 427.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 427.17 Td (73) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 427.17 Td (72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 414.17 Td (Ireland) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.15 414.17 Td (143) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 414.17 Td (145) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 414.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 414.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 414.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 414.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.15 414.17 Td (143) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 414.17 Td (145) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 401.17 Td (Portugal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.15 401.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 401.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 401.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 401.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 401.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 401.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 401.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 401.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 388.17 Td (Greece) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.15 388.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 388.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 388.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 388.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 388.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 388.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 388.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 388.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 375.33 Td (Higher risk) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.15 375.33 Td (200) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 289.15 375.33 Td (201) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 347.15 375.33 Td (20) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.15 375.33 Td (20) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.15 375.33 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 474.15 375.33 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 522.15 375.33 Td (220) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.15 375.33 Td (221) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 362.33 Td (Europe excluding higher risk) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 244.65 362.33 Td (4,022) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.60 362.33 Td (4,525) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 334.65 362.33 Td (1,158) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 371.60 362.33 Td (1,182) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 432.15 362.33 Td (751) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.15 362.33 Td (827) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.65 362.33 Td (5,931) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 551.60 362.33 Td (6,534) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 349.33 Td (Total Europe) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 220.50 349.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 244.65 349.33 Td (4,222) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 273.50 349.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.60 349.33 Td (4,726) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 310.50 349.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 334.65 349.33 Td (1,178) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.50 349.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 371.60 349.33 Td (1,202) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 400.50 349.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 432.15 349.33 Td (751) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 453.50 349.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.15 349.33 Td (827) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.50 349.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.65 349.33 Td (6,151) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 543.50 349.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 551.60 349.33 Td (6,755) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 336.33 Td (Europe exposure net of credit default) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 326.38 Td (swap protection [2]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.50 329.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.65 329.28 Td (5,767) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 543.50 329.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 551.60 329.28 Td (6,752) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 308.30 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 308.30 Td (Includes amortized cost and fair value of $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 203.73 308.30 Td (34) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 212.73 308.30 Td ( as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 234.48 308.30 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 305.21 308.30 Td ( and $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 327.71 308.30 Td (74) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 336.71 308.30 Td ( as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 358.47 308.30 Td (December31, 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 429.20 308.30 Td ( r) Tj ET Q q 0 0 0 rg BT 434.61 308.30 Td (elated to limited partnerships and other ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 297.50 Td (alternative investments, the majority of which is domiciled in the United Kingdom.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 286.70 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 286.70 Td (Includes a notional amount and fair value of $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 216.98 286.70 Td (190) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 230.48 286.70 Td ( and $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 252.98 286.70 Td (\(1\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 263.48 286.70 Td (, r) Tj ET Q q 0 0 0 rg BT 271.15 286.70 Td (espectively) Tj ET Q q 0 0 0 rg BT 310.12 286.70 Td (, as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 334.13 286.70 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 404.85 286.70 Td ( and $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 427.35 286.70 Td (384) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 440.85 286.70 Td ( and $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 463.35 286.70 Td (\(3\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 473.85 286.70 Td (, r) Tj ET Q q 0 0 0 rg BT 481.52 286.70 Td (espectively) Tj ET Q q 0 0 0 rg BT 520.49 286.70 Td (, as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 275.90 Td (December31, 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 120.23 275.90 Td ( r) Tj ET Q q 0 0 0 rg BT 125.65 275.90 Td (elated to cr) Tj ET Q q 0 0 0 rg BT 166.30 275.90 Td (edit default swap pr) Tj ET Q q 0 0 0 rg BT 237.72 275.90 Td (otection. This includes a notional amount of $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 403.21 275.90 Td (55) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 412.21 275.90 Td ( and $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 434.71 275.90 Td (56) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 443.71 275.90 Td ( as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 465.46 275.90 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 536.19 275.90 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 265.10 Td (December31, 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 120.23 265.10 Td (, r) Tj ET Q q 0 0 0 rg BT 127.90 265.10 Td (espectively) Tj ET Q q 0 0 0 rg BT 166.87 265.10 Td (, r) Tj ET Q q 0 0 0 rg BT 174.54 265.10 Td (elated to single name corporate issuers in the financial services sector) Tj ET Q q 0 0 0 rg BT 427.50 265.10 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 254.30 Td ([3] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 254.30 Td (The Company has cr) Tj ET Q q 0 0 0 rg BT 123.91 254.30 Td (edit default swap pr) Tj ET Q q 0 0 0 rg BT 195.33 254.30 Td (otection with a notional amount of $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 326.32 254.30 Td (20) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 335.32 254.30 Td ( r) Tj ET Q q 0 0 0 rg BT 340.74 254.30 Td (elated to the Corporate and Equity) Tj ET Q q 0 0 0 rg BT 465.98 254.30 Td (, ) Tj ET Q q 0 0 0 rg BT 470.32 254.30 Td (AFS Financial Services.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 236.30 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 236.30 Td (s European investment exposure lar) Tj ET Q q 0 0 0 rg BT 233.77 236.30 Td (gely relates to corporate entities which are domiciled in or generated a significant ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 224.30 Td (portion of its revenue within the United Kingdom, Germany) Tj ET Q q 0 0 0 rg BT 271.64 224.30 Td (, the Netherlands and Switzerland. ) Tj ET Q q 0 0 0 rg BT 411.32 224.30 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.76 224.30 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.35 224.30 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.79 224.30 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.79 224.30 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 212.30 Td (exposure to the United Kingdom totals less than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.47 212.30 Td (2%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.80 212.30 Td ( of total invested assets. ) Tj ET Q q 0 0 0 rg BT 337.38 212.30 Td (The majority of the European investments are U.S. dollar) Tj ET Q q 0 0 0 rg BT 566.56 212.30 Td (-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 200.30 Td (denominated, and those securities that are pound and euro-denominated are hedged to U.S. dollars or support foreign-denominated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 188.30 Td (liabilities. For a discussion of foreign currency risks, see the Foreign Currency Exchange Risk section of this MD&A. ) Tj ET Q q 0 0 0 rg BT 505.39 188.30 Td (The Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 176.30 Td (does not hold any sovereign exposure to the higher risk countries and does not hold any exposure to issuers in Greece. ) Tj ET Q q 0 0 0 rg BT 506.39 176.30 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 164.30 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 164.30 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.52 164.30 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.52 164.30 Td (, the Company) Tj ET Q q 0 0 0 rg BT 210.90 164.30 Td (s unfunded commitments associated with its investment portfolio was immaterial, and the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 152.30 Td (weighted average credit quality of European investments was ) Tj ET Q q 0 0 0 rg BT 279.20 152.30 Td (A- and ) Tj ET Q q 0 0 0 rg BT 308.63 152.30 Td (A-, respectively) Tj ET Q q 0 0 0 rg BT 371.85 152.30 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 134.30 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 134.30 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 134.30 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.97 134.30 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.97 134.30 Td (, the Company) Tj ET Q q 0 0 0 rg BT 235.35 134.30 Td (s total credit default swaps that provide credit protection on European issuers had a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 122.30 Td (notional amount of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.10 122.30 Td (190) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.10 122.30 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.54 122.30 Td (384) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.54 122.30 Td (, respectively) Tj ET Q q 0 0 0 rg BT 222.20 122.30 Td (, and a fair value of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.44 122.30 Td (\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 319.10 122.30 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.54 122.30 Td (\(3\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.20 122.30 Td (, respectively) Tj ET Q q 0 0 0 rg BT 407.86 122.30 Td (. Included in those notional amounts as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 110.30 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 110.30 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.52 110.30 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.52 110.30 Td ( were $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.95 110.30 Td (190) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 193.95 110.30 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 218.39 110.30 Td (384) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 233.39 110.30 Td (, respectively) Tj ET Q q 0 0 0 rg BT 286.05 110.30 Td (, on credit default swaps that reference single name corporate and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 98.30 Td (financial European issuers, of which $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.79 98.30 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.79 98.30 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.22 98.30 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 229.22 98.30 Td (, respectively) Tj ET Q q 0 0 0 rg BT 281.89 98.30 Td (, related to the higher risk countries. ) Tj ET Q q 0 0 0 rg BT 428.60 98.30 Td (The maturity dates of credit defaults ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 86.30 Td (swaps are primarily consistent with the hedged bonds. For further information on the use of the Company) Tj ET Q q 0 0 0 rg BT 456.69 86.30 Td (s credit derivatives and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 74.30 Td (counterparty credit quality) Tj ET Q q 0 0 0 rg BT 136.92 74.30 Td (, see Derivative Instruments within the Credit Risk section of this MD&A.) Tj ET Q endstream endobj 227 0 obj <> endobj 228 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.65 20.10 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 20.10 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (In addition to the credit risk associated with the investment portfolio, the Company has ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.26 713.10 Td ($236) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.26 713.10 Td ( of reinsurance recoverables due from legal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (entity counterparties domiciled within Europe. For a more detail discussion of the Company's reinsurance arrangements, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.88 701.10 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.88 701.10 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (Notes to the Consolidated Financial Statements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (Included in the Company) Tj ET Q q 0 0 0 rg BT 135.65 671.10 Td (s equity securities, trading, portfolio are investments in ) Tj ET Q q 0 0 0 rg BT 358.19 671.10 Td (W) Tj ET Q q 0 0 0 rg BT 366.83 671.10 Td (orld Government Bond Index Funds \(WGBI ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (funds\). ) Tj ET Q q 0 0 0 rg BT 66.31 659.10 Td (The fair value of the ) Tj ET Q q 0 0 0 rg BT 150.25 659.10 Td (WGBI funds at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.85 659.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.44 659.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 311.88 659.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.88 659.10 Td ( was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.43 659.10 Td (7.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.93 659.10 Td ( billion and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.98 659.10 Td (1) Tj ET Q q 0 0 0 rg BT 427.61 659.10 Td (1.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.11 659.10 Td ( billion, respectively) Tj ET Q q 0 0 0 rg BT 521.38 659.10 Td (. Because ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (several of these funds are managed by third party asset managers, the Company does not have access to detailed holdings; however) Tj ET Q q 0 0 0 rg BT 556.21 647.10 Td (, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (WGBI funds' investment mandate follows the Citigroup non-Japan ) Tj ET Q q 0 0 0 rg BT 301.41 635.10 Td (W) Tj ET Q q 0 0 0 rg BT 310.04 635.10 Td (orld Government Fund Index \(the index\) and includes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (allocations to certain European sovereign debt. ) Tj ET Q q 0 0 0 rg BT 221.53 623.10 Td (The estimated fair value of the European allocation based upon the index benchmark ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (allocation was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 96.48 611.10 Td (3.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.98 611.10 Td ( billion and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 162.03 611.10 Td (5.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.53 611.10 Td ( billion as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.31 611.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.89 611.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.33 611.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.33 611.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 397.99 611.10 Td (. Included in this estimated European ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (exposure were investments in Ireland, Italy) Tj ET Q q 0 0 0 rg BT 203.57 599.10 Td (, Portugal and Spain with an estimated fair value of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.57 599.10 Td (1.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.07 599.10 Td ( billion and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.13 599.10 Td (1.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.63 599.10 Td ( billion as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 587.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.52 587.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.52 587.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 202.18 587.10 Td (. ) Tj ET Q q 0 0 0 rg BT 207.00 587.10 Td (The index guidelines allow investment in issuers rated BBB- or higher by Standard and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (Poor's or Baa3 or higher by Moody's. Should an issuer) Tj ET Q q 0 0 0 rg BT 249.90 575.10 Td () Tj ET Q q 0 0 0 rg BT 252.68 575.10 Td (s credit rating fall below both of these rating levels they will be removed from the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (Index and the holdings will be liquidated. Because these assets support the international variable annuity business, changes in the value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (of these investments are reflected in the corresponding policyholder liabilities. ) Tj ET Q q 0 0 0 rg BT 347.61 551.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 407.32 551.10 Td (s indirect exposure to these holdings is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (through any guarantees issued on the underlying variable annuity policies. ) Tj ET Q q 0 0 0 rg BT 330.96 539.10 Td (The Company has also entered into credit default swaps with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (a notional amount and fair value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.51 527.10 Td ($350) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.51 527.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.95 527.10 Td ($5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.95 527.10 Td ( , respectively) Tj ET Q q 0 0 0 rg BT 279.11 527.10 Td (, to hedge certain sovereign credit risks.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (Emer) Tj ET Q q 0 0 0 rg BT 52.79 509.10 Td (ging Market Exposur) Tj ET Q q 0 0 0 rg BT 137.40 509.10 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 487.10 Td (Emer) Tj ET Q q 0 0 0 rg BT 52.97 487.10 Td (ging market securities have been negatively impacted due to softer) Tj ET Q q 0 0 0 rg BT 319.62 487.10 Td (-than-expected economic growth as well as trade and budget ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 475.10 Td (deficits raising the potential for destabilizing capital outflows and rapid currency depreciation, causing bondholders to demand a higher ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 463.10 Td (yield which would depress the fair value of securities held. ) Tj ET Q q 0 0 0 rg BT 271.80 463.10 Td (W) Tj ET Q q 0 0 0 rg BT 280.44 463.10 Td (e expect continued sensitivity to the ongoing evolution of Fed policy and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 451.10 Td (other economic and political factors, including contagion risk. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 429.10 Td (The Company has limited direct exposure within its investment portfolio to emer) Tj ET Q q 0 0 0 rg BT 355.42 429.10 Td (ging market issuers, totaling only 2% of total invested ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 417.10 Td (assets as of December 31, 2013, and is primarily comprised of sovereign and corporate debt issued in US dollars. ) Tj ET Q q 0 0 0 rg BT 489.26 417.10 Td (The Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 405.10 Td (identifies exposures with the issuers) Tj ET Q q 0 0 0 rg BT 178.51 405.10 Td ( ultimate parent country of domicile, which may not be the country of the security issuer) Tj ET Q q 0 0 0 rg BT 531.74 405.10 Td (. ) Tj ET Q q 0 0 0 rg BT 539.06 405.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 393.10 Td (following table presents the Company) Tj ET Q q 0 0 0 rg BT 186.47 393.10 Td (s exposure to securities within certain emer) Tj ET Q q 0 0 0 rg BT 359.57 393.10 Td (ging markets currently under the greatest stress, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 381.10 Td (defined as countries with a current account deficit and an inflation level greater than 5% or that have a sovereign S&P) Tj ET Q q 0 0 0 rg BT 503.18 381.10 Td ( credit rating of B- ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 369.10 Td (or below) Tj ET Q q 0 0 0 rg BT 66.12 369.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 308.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 308.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 308.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 308.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 308.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 280.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 280.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 280.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 280.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 280.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 252.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 252.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 252.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 252.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 252.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 224.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 224.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 224.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 224.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 224.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 196.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 196.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 196.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 196.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 196.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 58.00 168.60 235.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 168.60 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 168.60 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 168.60 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 488.00 168.60 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 293 334.6 m 358 334.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358 334.6 m 423 334.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 334.6 m 488 334.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 334.6 m 553 334.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 58 308.6 m 293 308.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 293 334.6 m 358 334.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 293 308.6 m 358 308.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358 334.6 m 423 334.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358 308.6 m 423 308.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 334.6 m 488 334.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 308.6 m 488 308.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 334.6 m 553 334.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 308.6 m 553 308.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358 308.6 m 423 308.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 308.6 m 553 308.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358 168.60000000000002 m 423 168.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 168.60000000000002 m 553 168.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 58 168.60000000000002 m 293 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 58 155.60000000000002 m 293 155.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 293 168.60000000000002 m 358 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293 155.60000000000002 m 358 155.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 358 168.60000000000002 m 423 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 155.60000000000002 m 423 155.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 168.60000000000002 m 488 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 155.60000000000002 m 488 155.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 488 168.60000000000002 m 553 168.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 488 155.60000000000002 m 553 155.60000000000002 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 60.50 339.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.20 339.05 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 451.20 339.05 Td (December 31, 2012) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 60.50 313.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 304.50 322.05 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 316.25 313.05 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 369.95 313.05 Td (Fair Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.50 322.05 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.25 313.05 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.95 313.05 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 299.17 Td (Argentina) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.50 299.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.15 299.17 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.50 299.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 299.17 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.50 299.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 299.17 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.50 299.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.15 299.17 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 285.17 Td (Brazil) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 285.17 Td (274) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.15 285.17 Td (257) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.15 285.17 Td (295) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.15 285.17 Td (317) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 271.17 Td (India) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.15 271.17 Td (62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 271.17 Td (62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 271.17 Td (79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.15 271.17 Td (86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 257.17 Td (Indonesia) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 257.17 Td (107) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 257.17 Td (93) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 257.17 Td (56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.15 257.17 Td (59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 243.17 Td (Lebanon) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.15 243.17 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 243.17 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 243.17 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.15 243.17 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 229.17 Td (South Africa) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.15 229.17 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 229.17 Td (60) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 229.17 Td (47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.15 229.17 Td (47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 215.17 Td (Turkey) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.15 215.17 Td (88) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 215.17 Td (79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 215.17 Td (48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.15 215.17 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 201.17 Td (Ukraine) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.15 201.17 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 201.17 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 201.17 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.15 201.17 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 187.17 Td (Uruguay) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.15 187.17 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 187.17 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 187.17 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.15 187.17 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 173.17 Td (Venezuela) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.15 173.17 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 173.17 Td (60) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 173.17 Td (45) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.15 173.17 Td (49) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 60.50 159.33 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.50 159.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 339.15 159.33 Td (804) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 360.50 159.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 404.15 159.33 Td (752) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.50 159.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.15 159.33 Td (629) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.50 159.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 534.15 159.33 Td (670) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 134.10 Td (The Company manages the credit risk associated with emer) Tj ET Q q 0 0 0 rg BT 269.58 134.10 Td (ging market securities within the investment portfolio on an on-going basis ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 122.10 Td (using macroeconomic analysis and issuer credit analysis subject to diversification and individual credit risk management limits. For ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 110.10 Td (additional details regarding the Company) Tj ET Q q 0 0 0 rg BT 199.79 110.10 Td (s management of credit risk, see the Credit Risk section of this MD&A. Due to increased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 98.10 Td (political tensions in ) Tj ET Q q 0 0 0 rg BT 111.77 98.10 Td (Ar) Tj ET Q q 0 0 0 rg BT 122.14 98.10 Td (gentina, Ukraine, and ) Tj ET Q q 0 0 0 rg BT 210.54 98.10 Td (V) Tj ET Q q 0 0 0 rg BT 216.66 98.10 Td (enezuela, the Company substantially reduced its exposure to these economies during ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 86.10 Td (February 2014.) Tj ET Q endstream endobj 229 0 obj <> endobj 230 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.65 20.10 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 20.10 Td (14) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Financial Services) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 695.10 Td (s exposure to the financial services sector is predominantly through banking and insurance institutions. ) Tj ET Q q 0 0 0 rg BT 505.10 695.10 Td (The following ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (table presents the Company) Tj ET Q q 0 0 0 rg BT 145.08 683.10 Td (s exposure to the financial services sector included in the Securities by ) Tj ET Q q 0 0 0 rg BT 429.82 683.10 Td (T) Tj ET Q q 0 0 0 rg BT 435.23 683.10 Td (ype table above.) 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0 0 rg BT 248.45 624.05 Td (Fair Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.75 633.05 Td (Net) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 303.55 624.05 Td (Unrealized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 360.00 633.05 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.75 624.05 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 416.45 624.05 Td (Fair Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.75 633.05 Td (Net) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 471.55 624.05 Td (Unrealized) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 610.17 Td (AAA) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.50 610.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.15 610.17 Td (49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.50 610.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.15 610.17 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.50 610.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.15 610.17 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.50 610.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.15 610.17 Td (47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.50 610.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.15 610.17 Td (49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.50 610.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 610.17 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 596.17 Td (AA) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.15 596.17 Td (468) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.15 596.17 Td (493) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 596.17 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.65 596.17 Td (1,039) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.65 596.17 Td (1,125) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 596.17 Td (86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 582.17 Td (A) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.65 582.17 Td (2,518) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.65 582.17 Td (2,616) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 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ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.15 554.17 Td (399) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 554.17 Td (427) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 554.17 Td (28) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 540.33 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 187.50 540.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 214.65 540.33 Td (5,277) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 243.50 540.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 270.65 540.33 Td (5,401) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 299.50 540.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 334.15 540.33 Td (124) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 355.50 540.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 382.65 540.33 Td (7,561) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 411.50 540.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 438.65 540.33 Td (7,927) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.50 540.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 502.15 540.33 Td (366) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 519.10 Td (The overall decrease in securities in the financial services sector is primarily attributed to the sales of the Retirement Plans and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 507.10 Td (Individual Life businesses in January 2013. Refer to Note 2 - Business Dispositions of Notes to Consolidated Financial Statements for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 495.10 Td (further discussion of these transactions. Excluding the impact of the disposed businesses, the decline in value of financial services ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 483.10 Td (securities resulted from sales as a result of portfolio management activities, and an increase in interest rates, partially of) Tj ET Q q 0 0 0 rg BT 509.48 483.10 Td (fset by credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 471.10 Td (spread tightening. Credit spreads for corporate financial services securities have narrowed significantly during ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.24 471.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.24 471.10 Td ( as the overall ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 459.10 Td (economy continues to improve.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 441.10 Td (Commer) Tj ET Q q 0 0 0 rg BT 65.57 441.10 Td (cial Real Estate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 423.10 Td (The commercial real estate market continued to show signs of improving fundamentals such as firming property prices, increases in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 411.10 Td (transaction volume and modestly easing financial conditions. ) Tj ET Q q 0 0 0 rg BT 283.48 411.10 Td (While delinquencies still remain at elevated levels as compared to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 399.10 Td (previous cycle, they have improved since cycle highs. In addition, the availability of credit has increased and there is now less concern ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 387.10 Td (about the ability of borrowers to refinance as loans come due. In spite of improved fundamentals, credit spreads widened mid year due ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 375.10 Td (to concerns over potential tapering of quantitative easing. Credit spreads trended downward in the second half of the year and ended the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 363.10 Td (year flat as compared to 2012.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 345.10 Td (The following table presents the Company) Tj ET Q q 0 0 0 rg BT 204.52 345.10 Td (s exposure to CMBS bonds by current credit quality and vintage year) Tj ET Q q 0 0 0 rg BT 481.00 345.10 Td (, included in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 333.10 Td (Securities by ) Tj ET Q q 0 0 0 rg BT 85.75 333.10 Td (T) Tj ET Q q 0 0 0 rg BT 91.16 333.10 Td (ype table above. Credit protection represents the current weighted average percentage of the outstanding capital structure ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 321.10 Td (subordinated to the Company) Tj ET Q q 0 0 0 rg BT 152.32 321.10 Td (s investment holding that is available to absorb losses before the security incurs the first dollar loss of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 309.10 Td (principal and excludes any equity interest or property value in excess of outstanding debt.) 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(Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.80 667.90 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.15 658.90 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 474.50 667.90 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 486.25 658.90 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.80 667.90 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.15 658.90 Td (Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 644.12 Td (2003&) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 634.12 Td (Prior) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 78.50 633.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 110.50 633.91 Td (10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 125.50 633.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.50 633.91 Td (10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 163.50 633.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.50 633.91 Td (35) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 210.50 633.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 227.50 633.91 Td (36) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 242.50 633.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 279.00 633.91 Td (6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 289.50 633.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 310.00 633.91 Td (6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 320.50 633.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 633.91 Td (10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 367.50 633.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.50 633.91 Td (10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 398.50 633.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.50 633.91 Td (31) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 445.50 633.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.50 633.91 Td (33) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 474.50 633.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 506.50 633.91 Td (92) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 521.50 633.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 539.50 633.91 Td (95) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 620.02 Td (2004) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 110.50 620.71 Td (79) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.50 620.71 Td (80) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.50 620.71 Td (77) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 227.50 620.71 Td (83) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.50 620.71 Td (29) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 305.50 620.71 Td (29) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 620.71 Td (13) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.50 620.71 Td (13) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 435.00 620.71 Td (7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.50 620.71 Td (12) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 502.00 620.71 Td (205) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.00 620.71 Td (217) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 607.02 Td (2005) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 106.00 607.71 Td (307) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 144.00 607.71 Td (324) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.50 607.71 Td (79) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 227.50 607.71 Td (82) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 270.00 607.71 Td (101) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.00 607.71 Td (104) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 607.71 Td (71) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.50 607.71 Td (71) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.50 607.71 Td (68) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.50 607.71 Td (75) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 502.00 607.71 Td (626) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.00 607.71 Td (656) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 594.02 Td (2006) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 106.00 594.71 Td (336) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 144.00 594.71 Td (362) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 191.00 594.71 Td (107) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 223.00 594.71 Td (116) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 270.00 594.71 Td (120) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.00 594.71 Td (127) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 348.00 594.71 Td (102) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 379.00 594.71 Td (106) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 426.00 594.71 Td (224) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 594.71 Td (238) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 502.00 594.71 Td (889) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.00 594.71 Td (949) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 581.02 Td (2007) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 106.00 581.71 Td (188) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 144.00 581.71 Td (202) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 191.00 581.71 Td (211) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 223.00 581.71 Td (218) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 270.00 581.71 Td (112) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 301.00 581.71 Td (127) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 581.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.50 581.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 426.00 581.71 Td (130) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 455.00 581.71 Td (125) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 502.00 581.71 Td (641) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.00 581.71 Td (672) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 568.02 Td (2008) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 110.50 568.71 Td (43) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.50 568.71 Td (49) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.50 568.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 227.50 568.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.50 568.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 305.50 568.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 568.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.50 568.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.50 568.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.50 568.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 506.50 568.71 Td (43) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 539.50 568.71 Td (49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 555.02 Td (2009) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 110.50 555.71 Td (11) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.50 555.71 Td (11) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.50 555.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 227.50 555.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.50 555.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 305.50 555.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 555.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.50 555.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.50 555.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.50 555.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 506.50 555.71 Td (11) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 539.50 555.71 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 542.02 Td (2010) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 110.50 542.71 Td (18) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.50 542.71 Td (19) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.50 542.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 227.50 542.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.50 542.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 305.50 542.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 542.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.50 542.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.50 542.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.50 542.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 506.50 542.71 Td (18) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 539.50 542.71 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 529.02 Td (2011) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 110.50 529.71 Td (63) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.50 529.71 Td (66) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.50 529.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 227.50 529.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.50 529.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 305.50 529.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 357.00 529.71 Td (6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 388.00 529.71 Td (5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.50 529.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.50 529.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 506.50 529.71 Td (69) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 539.50 529.71 Td (71) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 516.02 Td (2012) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 110.50 516.71 Td (35) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.50 516.71 Td (34) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.50 516.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 227.50 516.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 279.00 516.71 Td (8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 310.00 516.71 Td (8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 516.71 Td (11) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.50 516.71 Td (10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.50 516.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.50 516.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 506.50 516.71 Td (54) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 539.50 516.71 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 503.02 Td (2013) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 110.50 503.71 Td (30) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 148.50 503.71 Td (29) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.50 503.71 Td (89) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 227.50 503.71 Td (86) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 274.50 503.71 Td (59) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 305.50 503.71 Td (58) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 503.71 Td (10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 388.00 503.71 Td (9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 430.50 503.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 459.50 503.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 502.00 503.71 Td (188) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.00 503.71 Td (182) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 490.13 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 78.50 489.90 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 99.25 489.90 Td (1,120) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 125.50 489.90 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 137.25 489.90 Td (1,186) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 163.50 489.90 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 191.00 489.90 Td (598) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 210.50 489.90 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 223.00 489.90 Td (621) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 242.50 489.90 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 270.00 489.90 Td (435) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 289.50 489.90 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 301.00 489.90 Td (459) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 320.50 489.90 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 348.00 489.90 Td (223) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 367.50 489.90 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 379.00 489.90 Td (224) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.50 489.90 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.00 489.90 Td (460) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 445.50 489.90 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 455.00 489.90 Td (483) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 474.50 489.90 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 495.25 489.90 Td (2,836) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.50 489.90 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.25 489.90 Td (2,973) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 34.50 476.68 Td (Credit) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 34.50 468.68 Td (protection) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 105.60 468.90 Td (31.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 187.60 468.90 Td (25.9%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 266.10 468.90 Td (19.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 344.10 468.90 Td (19.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.10 468.90 Td (12.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.10 468.90 Td (24.6%) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 405.45 44.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 76.00 405.45 45.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 121.00 405.45 42.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 163.00 405.45 43.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 206.00 405.45 35.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 241.00 405.45 44.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.00 405.45 34.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 319.00 405.45 46.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 405.45 29.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 405.45 44.00 -20.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 438.00 405.45 31.00 -20.00 re f /GS0 gs 0.8 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0 0 rg BT 440.50 389.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.80 389.91 Td (43) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.50 389.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 497.00 389.91 Td (386) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 516.50 389.91 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 529.30 389.91 Td (391) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 376.02 Td (2004) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 104.00 376.71 Td (171) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 142.30 376.71 Td (178) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 193.50 376.71 Td (73) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 224.80 376.71 Td (82) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 272.50 376.71 Td (36) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.80 376.71 Td (36) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 376.71 Td (24) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.80 376.71 Td (24) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 425.50 376.71 Td (20) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.80 376.71 Td (12) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 497.00 376.71 Td (324) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 529.30 376.71 Td (332) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 363.02 Td (2005) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 104.00 363.71 Td (446) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 142.30 363.71 Td (485) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 189.00 363.71 Td (105) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 220.30 363.71 Td (107) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 268.00 363.71 Td (121) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 298.30 363.71 Td (122) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 348.00 363.71 Td (152) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 373.30 363.71 Td (139) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 421.00 363.71 Td (100) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.80 363.71 Td (82) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 497.00 363.71 Td (924) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 529.30 363.71 Td (935) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 350.02 Td (2006) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 104.00 350.71 Td (682) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 142.30 350.71 Td (757) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 189.00 350.71 Td (167) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 220.30 350.71 Td (178) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 268.00 350.71 Td (129) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 298.30 350.71 Td (135) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 348.00 350.71 Td (235) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 373.30 350.71 Td (229) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 421.00 350.71 Td (316) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.30 350.71 Td (278) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 490.25 350.71 Td (1,529) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 522.55 350.71 Td (1,577) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 337.02 Td (2007) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 104.00 337.71 Td (371) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 142.30 337.71 Td (409) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 189.00 337.71 Td (289) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 220.30 337.71 Td (301) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 268.00 337.71 Td (150) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 298.30 337.71 Td (154) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 337.71 Td (31) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.80 337.71 Td (31) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 421.00 337.71 Td (188) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 448.30 337.71 Td (160) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 490.25 337.71 Td (1,029) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 522.55 337.71 Td (1,055) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 324.02 Td (2008) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 108.50 324.71 Td (55) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 146.80 324.71 Td (66) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 193.50 324.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 224.80 324.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 272.50 324.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.80 324.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 324.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.80 324.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 425.50 324.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.80 324.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 501.50 324.71 Td (55) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 533.80 324.71 Td (66) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 311.02 Td (2009) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 108.50 311.71 Td (28) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 146.80 311.71 Td (30) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 193.50 311.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 224.80 311.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 272.50 311.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.80 311.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 311.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.80 311.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 425.50 311.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.80 311.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 501.50 311.71 Td (28) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 533.80 311.71 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 298.02 Td (2010) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 108.50 298.71 Td (18) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 146.80 298.71 Td (21) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 193.50 298.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 224.80 298.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 272.50 298.71 Td (22) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.80 298.71 Td (23) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 298.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.80 298.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 425.50 298.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.80 298.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 501.50 298.71 Td (40) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 533.80 298.71 Td (44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 285.02 Td (2011) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 104.00 285.71 Td (121) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 142.30 285.71 Td (135) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 193.50 285.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 224.80 285.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 272.50 285.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.80 285.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 352.50 285.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 377.80 285.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 425.50 285.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.80 285.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 497.00 285.71 Td (121) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 529.30 285.71 Td (135) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 272.02 Td (2012) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 108.50 272.71 Td (98) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 142.30 272.71 Td (102) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 193.50 272.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 224.80 272.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 272.50 272.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 302.80 272.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 357.00 272.71 Td (1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 382.30 272.71 Td (1) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 425.50 272.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 452.80 272.71 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 501.50 272.71 Td (99) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 529.30 272.71 Td (103) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 259.18 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 78.50 259.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 97.25 259.85 Td (2,170) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 123.50 259.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 135.55 259.85 Td (2,367) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 165.50 259.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 189.00 259.85 Td (736) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 208.50 259.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 220.30 259.85 Td (771) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 243.50 259.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 268.00 259.85 Td (515) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 287.50 259.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 298.30 259.85 Td (526) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.50 259.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 348.00 259.85 Td (448) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 367.50 259.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.30 259.85 Td (429) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.50 259.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.00 259.85 Td (666) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.50 259.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.30 259.85 Td (575) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 471.50 259.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 490.25 259.85 Td (4,535) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.50 259.85 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.55 259.85 Td (4,668) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 34.50 246.68 Td (Credit) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 34.50 238.68 Td (protection) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 106.60 238.90 Td (29.7%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 189.10 238.90 Td (23.4%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 267.10 238.90 Td (23.3%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 343.60 238.90 Td (16.8%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.85 238.90 Td (9.2%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 496.60 238.90 Td (23.7%) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 218.15 Td ([1] The vintage year r) Tj ET Q q 0 0 0 rg BT 113.41 218.15 Td (epr) Tj ET Q q 0 0 0 rg BT 125.07 218.15 Td (esents the year the pool of loans was originated.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 202.15 Td (The Company also has ) Tj ET Q q 0 0 0 rg BT 124.82 202.15 Td (AFS exposure to CRE CDOs with an amortized cost and fair value of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.60 202.15 Td (176) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.60 202.15 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.04 202.15 Td (248) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.04 202.15 Td (, respectively) Tj ET Q q 0 0 0 rg BT 517.70 202.15 Td (, as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 190.15 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 190.15 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.52 190.15 Td (420) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.52 190.15 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.96 190.15 Td (384) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.96 190.15 Td (, respectively) Tj ET Q q 0 0 0 rg BT 241.62 190.15 Td (, as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.28 190.15 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.87 190.15 Td (. ) Tj ET Q q 0 0 0 rg BT 351.69 190.15 Td (These securities are comprised of diversified pools of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 178.15 Td (commercial mortgage loans or equity positions of other CMBS securitizations. ) Tj ET Q q 0 0 0 rg BT 348.76 178.15 Td (W) Tj ET Q q 0 0 0 rg BT 357.40 178.15 Td (e continue to monitor these investments as economic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 166.15 Td (and market uncertainties regarding future performance impact market liquidity and security premiums.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 148.15 Td (In addition to CMBS bonds and CRE CDOs, the Company has exposure to commercial mortgage loans as presented in the following ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 136.15 Td (table. ) Tj ET Q q 0 0 0 rg BT 55.75 136.15 Td (These loans are collateralized by a variety of commercial properties and are diversified both geographically throughout the United ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 124.15 Td (States and by property type. ) Tj ET Q q 0 0 0 rg BT 145.74 124.15 Td (These loans are primarily in the form of a whole loan, where the Company is the sole lender) Tj ET Q q 0 0 0 rg BT 514.11 124.15 Td (, or may include ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 112.15 Td (a loan participation. Loan participations are loans where the Company has purchased or retained a portion of an outstanding loan or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 100.15 Td (package of loans and participates on a pro-rata basis in collecting interest and principal pursuant to the terms of the participation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 88.15 Td (agreement. In general, ) Tj ET Q q 0 0 0 rg BT 122.84 88.15 Td (A-Note participations have senior payment priority) Tj ET Q q 0 0 0 rg BT 326.86 88.15 Td (, followed by B-Note participations and then mezzanine loan ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 76.15 Td (participations. ) Tj ET Q q 0 0 0 rg BT 90.38 76.15 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 114.82 76.15 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 193.40 76.15 Td (, loans within the Company) Tj ET Q q 0 0 0 rg BT 306.45 76.15 Td (s mortgage loan portfolio that have had extensions or restructurings ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 64.15 Td (other than what is allowable under the original terms of the contract are immaterial.) Tj ET Q endstream endobj 233 0 obj <> endobj 234 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.65 20.10 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 20.10 Td (16) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Commer) Tj ET Q q 0 0 0 rg BT 69.08 713.25 Td (cial Mortgage Loans) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 659.75 152.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 659.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.00 659.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 659.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 659.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 659.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 659.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 631.75 152.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 631.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.00 631.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 631.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 631.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 631.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 631.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 603.75 152.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 603.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.00 603.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 603.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 352.00 603.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 603.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 603.75 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184 682.75 m 240 682.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 240 682.75 m 296 682.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 682.75 m 352 682.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 682.75 m 408 682.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408 682.75 m 464 682.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464 682.75 m 520 682.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 659.75 m 184 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184 682.75 m 240 682.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184 659.75 m 240 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 240 682.75 m 296 682.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 240 659.75 m 296 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 682.75 m 352 682.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 659.75 m 352 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 682.75 m 408 682.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 659.75 m 408 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408 682.75 m 464 682.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408 659.75 m 464 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464 682.75 m 520 682.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464 659.75 m 520 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 659.75 m 184 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184 659.75 m 240 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 240 659.75 m 296 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 659.75 m 352 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 659.75 m 408 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408 659.75 m 464 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464 659.75 m 520 659.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 589.75 m 184 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 576.75 m 184 576.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184 589.75 m 240 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184 576.75 m 240 576.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 240 589.75 m 296 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 576.75 m 296 576.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 589.75 m 352 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 576.75 m 352 576.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 352 589.75 m 408 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352 576.75 m 408 576.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408 589.75 m 464 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 576.75 m 464 576.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 464 589.75 m 520 589.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 576.75 m 520 576.75 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 34.50 687.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.20 687.20 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 399.20 687.20 Td (December 31, 2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 34.50 664.00 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 191.00 673.20 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 196.35 664.20 Td (Cost [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 248.90 673.20 Td (Valuation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 247.50 664.20 Td (Allowance) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 305.75 673.20 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 312.65 664.20 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 359.00 673.20 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 364.35 664.20 Td (Cost [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 416.90 673.20 Td (Valuation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.50 664.20 Td (Allowance) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.75 673.20 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.65 664.20 Td (Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 650.32 Td (Agricultural) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.50 650.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.15 650.32 Td (132) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.50 650.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.80 650.37 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.15 650.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 650.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.15 650.32 Td (125) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.50 650.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 650.32 Td (150) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.50 650.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.80 650.37 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 650.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.50 650.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 650.32 Td (142) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 636.32 Td (Whole loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.65 636.32 Td (5,223) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.80 636.37 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.15 636.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.65 636.32 Td (5,213) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.65 636.32 Td (6,023) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 636.37 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 636.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 636.32 Td (6,013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 622.32 Td (A-Note participations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.15 622.32 Td (192) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.15 622.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.15 622.32 Td (192) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 622.32 Td (255) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 622.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 622.32 Td (255) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 608.32 Td (B-Note participations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.15 608.32 Td (99) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.80 608.37 Td (\(50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.15 608.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.15 608.32 Td (49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 608.32 Td (263) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 608.37 Td (\(50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 608.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 608.32 Td (213) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 594.32 Td (Mezzanine loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.15 594.32 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.15 594.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.15 594.32 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 594.32 Td (88) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 594.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 594.32 Td (88) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 580.48 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 186.50 580.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 213.65 580.48 Td (5,665) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 242.50 580.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.80 580.53 Td (\(67) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 292.15 580.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 298.50 580.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 325.65 580.48 Td (5,598) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 354.50 580.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 381.65 580.48 Td (6,779) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 410.50 580.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 446.80 580.53 Td (\(68) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 460.15 580.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 466.50 580.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.65 580.48 Td (6,711) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 560.45 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 560.45 Td (Amortized cost r) Tj ET Q q 0 0 0 rg BT 108.66 560.45 Td (epr) Tj ET Q q 0 0 0 rg BT 120.33 560.45 Td (esents carrying value prior to valuation allowances, if any) Tj ET Q q 0 0 0 rg BT 330.55 560.45 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 542.45 Td (The overall decrease in mortgage loans is attributed to the sales of the Retirement Plans and Individual Life businesses in January 2013. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 530.45 Td (Refer to Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.42 530.45 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 93.42 530.45 Td ( - Business Dispositions of Notes to Consolidated Financial Statements for further discussion of these transactions. Since ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 518.45 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 518.45 Td (, the Company funded ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.46 518.45 Td ($1.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 247.57 518.45 Td ( of commercial whole loans with a weighted average loan-to-value \(L) Tj ET Q q 0 0 0 rg BT 529.87 518.45 Td (TV\) ratio ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 506.45 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 42.33 506.45 Td (61%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.66 506.45 Td ( and a weighted average yield of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 193.10 506.45 Td (3.63%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 218.93 506.45 Td (. ) Tj ET Q q 0 0 0 rg BT 223.75 506.45 Td (The Company continues to originate commercial whole loans within primary markets, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 494.45 Td (such as of) Tj ET Q q 0 0 0 rg BT 71.31 494.45 Td (fice, industrial and multi-family) Tj ET Q q 0 0 0 rg BT 198.40 494.45 Td (, focusing on loans with strong L) Tj ET Q q 0 0 0 rg BT 329.42 494.45 Td (TV) Tj ET Q q 0 0 0 rg BT 342.57 494.45 Td ( ratios and high quality property collateral. ) Tj ET Q q 0 0 0 rg BT 515.30 494.45 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 482.45 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 482.45 Td (, the Company had mortgage loans held-for) Tj ET Q q 0 0 0 rg BT 284.00 482.45 Td (-sale with a carrying value and valuation allowance of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.08 482.45 Td ($61) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.08 482.45 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.52 482.45 Td ($3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.52 482.45 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 470.45 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 470.45 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 101.10 470.45 Td ($47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 116.10 470.45 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.54 470.45 Td ($3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 145.54 470.45 Td (, respectively) Tj ET Q q 0 0 0 rg BT 198.20 470.45 Td (, as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.86 470.45 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.44 470.45 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 452.45 Td (Municipal Bonds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 434.45 Td (The following table summarizes the amortized cost, fair value, and weighted average credit quality of the Company's investments in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 422.45 Td (securities backed by states, municipalities and political subdivisions \(municipal bonds\).) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 46.50 354.95 109.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 354.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 354.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 354.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 354.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 354.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 354.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 354.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 354.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 354.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 354.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 354.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 46.50 328.95 109.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 328.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 328.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 328.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 328.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 328.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 328.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 328.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 328.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 328.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 328.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 328.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 46.50 302.95 109.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 302.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 302.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 302.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 302.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 302.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 302.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 302.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 302.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 302.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 302.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 302.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 46.50 276.95 109.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 276.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 276.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 276.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 276.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 276.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 276.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 276.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 276.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 276.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 276.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 276.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 46.50 250.95 109.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 250.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 250.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 250.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 250.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 250.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 250.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 250.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 250.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 250.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 250.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 250.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 46.50 224.95 109.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 224.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 224.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 224.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 224.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 224.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 224.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 224.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 224.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 224.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 224.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 224.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 46.50 198.95 109.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 155.50 198.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.50 198.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.50 198.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 288.50 198.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 198.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.50 198.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 362.50 198.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.50 198.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.50 198.95 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 495.50 198.95 5.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 500.50 198.95 64.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 155.5 398.95000000000005 m 219.5 398.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 398.95000000000005 m 224.5 398.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 398.95000000000005 m 288.5 398.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 398.95000000000005 m 293.5 398.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 398.95000000000005 m 357.5 398.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 362.5 398.95000000000005 m 426.5 398.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 426.5 398.95000000000005 m 431.5 398.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431.5 398.95000000000005 m 495.5 398.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 398.95000000000005 m 500.5 398.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 398.95000000000005 m 564.5 398.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 46.5 354.95000000000005 m 155.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 155.5 354.95000000000005 m 219.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 354.95000000000005 m 224.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 354.95000000000005 m 288.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 354.95000000000005 m 293.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 354.95000000000005 m 357.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 354.95000000000005 m 362.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 354.95000000000005 m 426.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 354.95000000000005 m 431.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 354.95000000000005 m 495.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 354.95000000000005 m 500.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 354.95000000000005 m 564.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 46.5 354.95000000000005 m 155.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 155.5 354.95000000000005 m 219.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 354.95000000000005 m 288.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 354.95000000000005 m 357.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 354.95000000000005 m 426.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 354.95000000000005 m 495.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 354.95000000000005 m 564.5 354.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 46.5 198.95000000000005 m 155.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 155.5 198.95000000000005 m 219.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 198.95000000000005 m 224.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 198.95000000000005 m 288.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 198.95000000000005 m 293.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 198.95000000000005 m 357.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 198.95000000000005 m 362.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 198.95000000000005 m 426.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 198.95000000000005 m 431.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 198.95000000000005 m 495.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 198.95000000000005 m 500.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 198.95000000000005 m 564.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 198.95000000000005 m 357.5 198.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 185.95000000000005 m 357.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 46.5 185.95000000000005 m 155.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 46.5 172.95000000000005 m 155.5 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 155.5 185.95000000000005 m 219.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 155.5 172.95000000000005 m 219.5 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 185.95000000000005 m 224.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219.5 172.95000000000005 m 224.5 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 185.95000000000005 m 288.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224.5 172.95000000000005 m 288.5 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 185.95000000000005 m 293.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 288.5 172.95000000000005 m 293.5 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 185.95000000000005 m 357.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293.5 172.95000000000005 m 357.5 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 185.95000000000005 m 362.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357.5 172.95000000000005 m 362.5 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 185.95000000000005 m 426.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 362.5 172.95000000000005 m 426.5 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 185.95000000000005 m 431.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 172.95000000000005 m 431.5 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 185.95000000000005 m 495.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431.5 172.95000000000005 m 495.5 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 185.95000000000005 m 500.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 172.95000000000005 m 500.5 172.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 185.95000000000005 m 564.5 185.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500.5 172.95000000000005 m 564.5 172.95000000000005 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 49.00 403.21 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 219.70 403.35 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.70 403.35 Td (December 31, 2012) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 49.00 359.41 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 166.50 368.40 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 178.25 359.40 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 229.60 359.40 Td (Market Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.70 377.40 Td (Weighted) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 309.30 368.40 Td (Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 296.95 359.40 Td (Credit Quality) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.50 368.40 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 385.25 359.40 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 436.60 359.40 Td (Market Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 513.70 377.40 Td (Weighted) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.30 368.40 Td (Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.95 359.40 Td (Credit Quality) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 49.00 346.21 Td (General Obligation) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 158.00 346.21 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.75 346.21 Td (2,358) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 227.00 346.21 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 264.75 346.21 Td (2,455) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.70 346.21 Td (AA) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 365.00 346.21 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 402.75 346.21 Td (2,947) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 434.00 346.21 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.75 346.21 Td (3,293) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 525.70 346.21 Td (AA) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 49.00 333.21 Td (Pre-Refunded [1]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 202.50 333.21 Td (567) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 271.50 333.21 Td (605) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 315.45 333.21 Td (AAA) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 409.50 333.21 Td (629) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.50 333.21 Td (678) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 522.45 333.21 Td (AAA) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 49.00 320.21 Td (Revenue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 61.00 307.21 Td (Transportation) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.75 307.21 Td (1,880) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 264.75 307.21 Td (1,879) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 321.95 307.21 Td (A) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 402.75 307.21 Td (1,652) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.75 307.21 Td (1,799) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 526.20 307.21 Td (A+) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 61.00 294.21 Td (Water & Sewer) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.75 294.21 Td (1,455) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 264.75 294.21 Td (1,476) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 317.00 294.21 Td (AA-) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 402.75 294.21 Td (1,380) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.75 294.21 Td (1,531) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 525.70 294.21 Td (AA) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 61.00 281.21 Td (Health Care) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.75 281.21 Td (1,305) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 264.75 281.21 Td (1,335) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.70 281.21 Td (AA) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 402.75 281.21 Td (1,302) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.75 281.21 Td (1,443) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.00 281.21 Td (AA-) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 61.00 268.21 Td (Education) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.75 268.21 Td (1,077) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 264.75 268.21 Td (1,105) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.70 268.21 Td (AA) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 402.75 268.21 Td (1,288) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.75 268.21 Td (1,446) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 525.70 268.21 Td (AA) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 61.00 255.21 Td (Leasing [2]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 202.50 255.21 Td (877) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 271.50 255.21 Td (897) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 317.00 255.21 Td (AA-) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 402.75 255.21 Td (1,028) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 471.75 255.21 Td (1,133) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 526.20 255.21 Td (A+) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 61.00 242.21 Td (Sales Tax) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 202.50 242.21 Td (793) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 271.50 242.21 Td (795) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 317.00 242.21 Td (AA-) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 409.50 242.21 Td (862) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.50 242.21 Td (966) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 525.70 242.21 Td (AA) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 61.00 229.21 Td (Power) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 202.50 229.21 Td (706) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 271.50 229.21 Td (722) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 319.20 229.21 Td (A+) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 409.50 229.21 Td (892) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.50 229.21 Td (976) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 526.20 229.21 Td (A+) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 61.00 216.21 Td (Housing) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 202.50 216.21 Td (177) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 271.50 216.21 Td (171) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 318.70 216.21 Td (AA) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 409.50 216.21 Td (333) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.50 216.21 Td (344) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.00 216.21 Td (AA-) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 61.00 203.21 Td (Other) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 202.50 203.21 Td (737) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 271.50 203.21 Td (733) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 319.20 203.21 Td (A+) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 409.50 203.21 Td (688) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 478.50 203.21 Td (752) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.00 203.21 Td (AA-) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 49.00 190.21 Td (Total Revenue) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 195.75 190.21 Td (9,007) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 264.75 190.21 Td (9,113) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 317.00 190.21 Td (AA-) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 402.75 190.21 Td (9,425) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 467.25 190.21 Td (10,390) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 524.00 190.21 Td (AA-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 49.00 177.35 Td (Total Municipal) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 158.00 177.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 191.25 177.35 Td (11,932) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 227.00 177.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.25 177.35 Td (12,173) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.00 177.35 Td (AA-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.00 177.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.25 177.35 Td (13,001) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.00 177.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 467.25 177.35 Td (14,361) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.00 177.35 Td (AA-) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 155.45 Td ([1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.00 155.45 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 155.45 Td (Pr) Tj ET Q q 0 0 0 rg BT 58.17 155.45 Td (e-r) Tj ET Q q 0 0 0 rg BT 68.33 155.45 Td (efunded bonds ar) Tj ET Q q 0 0 0 rg BT 130.49 155.45 Td (e bonds for which an irr) Tj ET Q q 0 0 0 rg BT 217.41 155.45 Td (evocable trust containing sufficient U.S. tr) Tj ET Q q 0 0 0 rg BT 369.80 155.45 Td (easury) Tj ET Q q 0 0 0 rg BT 393.30 155.45 Td (, agency) Tj ET Q q 0 0 0 rg BT 422.78 155.45 Td (, or other securities has been established to ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 144.65 Td (fund the r) Tj ET Q q 0 0 0 rg BT 84.16 144.65 Td (emaining payment of principal and inter) Tj ET Q q 0 0 0 rg BT 229.56 144.65 Td (est.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 132.65 Td ([2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.00 132.65 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 132.65 Td (Leasing r) Tj ET Q q 0 0 0 rg BT 83.42 132.65 Td (evenue bonds ar) Tj ET Q q 0 0 0 rg BT 142.07 132.65 Td (e generally the obligations of a financing authority established by the municipality that leases municipal facilities to a ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 121.85 Td (municipality) Tj ET Q q 0 0 0 rg BT 93.99 121.85 Td (. The notes ar) Tj ET Q q 0 0 0 rg BT 145.41 121.85 Td (e typically secur) Tj ET Q q 0 0 0 rg BT 204.05 121.85 Td (ed by lease payments made by the municipality that is leasing the facilities financed by the issue. Lease ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 111.05 Td (payments may be subject to annual appr) Tj ET Q q 0 0 0 rg BT 194.64 111.05 Td (opriation by the municipality or the municipality may be obligated to appr) Tj ET Q q 0 0 0 rg BT 462.52 111.05 Td (opriate general tax r) Tj ET Q q 0 0 0 rg BT 536.92 111.05 Td (evenues to ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 100.25 Td (make lease payments.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 82.25 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 82.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 82.25 Td (, the lar) Tj ET Q q 0 0 0 rg BT 164.61 82.25 Td (gest issuer concentrations were the states of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.05 82.25 Td (Illinois) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.39 82.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.39 82.25 Td (California) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.93 82.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.37 82.25 Td (Massachusetts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.14 82.25 Td (, which each ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 70.25 Td (comprised less than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.87 70.25 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 117.87 70.25 Td (% of the municipal bond portfolio and were primarily comprised of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.30 70.25 Td (general obligation and taxable bonds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.48 70.25 Td (. ) Tj ET Q q 0 0 0 rg BT 541.92 70.25 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 58.25 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 58.25 Td (, the lar) Tj ET Q q 0 0 0 rg BT 140.17 58.25 Td (gest issuer concentrations were the states of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.61 58.25 Td (California) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.15 58.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.15 58.25 Td (Illinois) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.49 58.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.92 58.25 Td (Massachusetts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.69 58.25 Td (, which each comprised ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 46.25 Td (less than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.72 46.25 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 73.72 46.25 Td (% of the municipal bond portfolio and were primarily comprised of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.14 46.25 Td (general obligation and taxable bonds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.32 46.25 Td (.) Tj ET Q endstream endobj 235 0 obj <> endobj 236 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.65 20.10 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 20.10 Td (17) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Limited Partnerships and Other ) Tj ET Q q 0 0 0 rg BT 161.88 713.10 Td (Alternative Investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The following table presents the Company) Tj ET Q q 0 0 0 rg BT 204.52 695.10 Td (s investments in limited partnerships and other alternative investments which include hedge ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (funds, mortgage and real estate funds, mezzanine debt funds, and private equity and other funds. Hedge funds include investments in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (funds of funds and direct funds. ) Tj ET Q q 0 0 0 rg BT 161.02 671.10 Td (These hedge funds invest in a variety of strategies including global macro and long/short credit and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (equity) Tj ET Q q 0 0 0 rg BT 55.85 659.10 Td (. Mortgage and real estate funds consist of investments in funds whose assets consist of mortgage loans, mortgage loan ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (participations, mezzanine loans or other notes which may be below investment grade, as well as equity real estate and real estate joint ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (ventures. Mezzanine debt funds include investments in funds whose assets consist of subordinated debt that often incorporate equity-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (based options such as warrants and a limited amount of direct equity investments. Private equity and other funds primarily consist of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (investments in funds whose assets typically consist of a diversified pool of investments in small to mid-sized non-public businesses with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (high growth potential.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 554.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 554.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 554.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 554.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 554.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 526.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 526.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 526.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 526.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 526.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 498.60 235.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 498.60 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 498.60 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 498.60 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 462.00 498.60 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 554.6 m 267 554.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267 568.6 m 332 568.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267 554.6 m 332 554.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 332 568.6 m 397 568.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 332 554.6 m 397 554.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 568.6 m 462 568.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 554.6 m 462 554.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 462 568.6 m 527 568.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 462 554.6 m 527 554.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 498.6 m 267 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 485.6 m 267 485.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267 498.6 m 332 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 485.6 m 332 485.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 332 498.6 m 397 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 485.6 m 397 485.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 498.6 m 462 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 485.6 m 462 485.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 462 498.6 m 527 498.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 462 485.6 m 527 485.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 573.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 295.20 573.05 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.20 573.05 Td (December 31, 2012) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 559.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 283.20 559.05 Td (Amount) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.30 559.05 Td (Percent) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 413.20 559.05 Td (Amount) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.30 559.05 Td (Percent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 545.17 Td (Hedge funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 545.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 545.17 Td (1,341) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.00 545.17 Td (44.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.15 545.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 545.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.65 545.17 Td (1,309) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.00 545.17 Td (43.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 545.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 531.17 Td (Mortgage and real estate funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.15 531.17 Td (534) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.00 531.17 Td (17.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.15 531.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 531.17 Td (501) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.00 531.17 Td (16.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 531.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 517.17 Td (Mezzanine debt funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.15 517.17 Td (82) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.00 517.17 Td (2.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.15 517.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 517.17 Td (108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.00 517.17 Td (3.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 517.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 503.17 Td (Private equity and other funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 503.17 Td (1,083) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.00 503.17 Td (35.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.15 503.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.65 503.17 Td (1,097) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.00 503.17 Td (36.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 503.17 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 489.33 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 269.50 489.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.65 489.33 Td (3,040) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 371.50 489.33 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 386.50 489.33 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.50 489.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 435.65 489.33 Td (3,015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.50 489.33 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.50 489.33 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 468.10 Td (A) Tj ET Q q 0 0 0 rg BT 37.06 468.10 Td (vailable-for) Tj ET Q q 0 0 0 rg BT 84.07 468.10 Td (-Sale Securities Unr) Tj ET Q q 0 0 0 rg BT 176.18 468.10 Td (ealized Loss ) Tj ET Q q 0 0 0 rg BT 227.67 468.10 Td (Aging) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 450.10 Td (The total gross unrealized losses were $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 193.39 450.10 Td (1.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.51 450.10 Td ( as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.67 450.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.25 450.10 Td (, which have increased $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.82 450.10 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.82 450.10 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.65 450.10 Td (1%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.98 450.10 Td (, from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.92 450.10 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 438.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 438.10 Td ( due to an increase in interest rates, partially of) Tj ET Q q 0 0 0 rg BT 238.47 438.10 Td (fset by tighter credit spreads. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 420.10 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 420.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 420.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.53 420.10 Td ($826) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 159.53 420.10 Td ( of the gross unrealized losses were associated with securities depressed less than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.93 420.10 Td (20%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.26 420.10 Td ( of cost or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 408.10 Td (amortized cost.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 390.10 Td (The remaining ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.59 390.10 Td ($251) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.59 390.10 Td ( of gross unrealized losses were associated with securities depressed greater than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.03 390.10 Td (20%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.36 390.10 Td (, which includes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.12 390.10 Td ($2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.12 390.10 Td ( associated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 378.10 Td (with securities depressed over ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.24 378.10 Td (50%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.57 378.10 Td ( for twelve months or more. ) Tj ET Q q 0 0 0 rg BT 286.53 378.10 Td (The securities depressed more than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.53 378.10 Td (20%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.86 378.10 Td ( are primarily foreign ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 366.10 Td (government securities, floating rate corporate financial securities, and securities with exposure to commercial real estate that have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 354.10 Td (market spreads that continue to be wider than the spreads at the securities' respective purchase dates. Unrealized losses on foreign ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 342.10 Td (government securities are primarily due to depreciation of the Japanese yen in relation to the U.S. dollar) Tj ET Q q 0 0 0 rg BT 447.48 342.10 Td (. Corporate financial securities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 330.10 Td (are primarily depressed because the securities have floating-rate coupons and/or long-dated maturities. Unrealized losses on securities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 318.10 Td (with exposure to commercial and residential real estate are lar) Tj ET Q q 0 0 0 rg BT 279.26 318.10 Td (gely due to the continued market and economic uncertainties surrounding ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 306.10 Td (the performance of certain structures or vintages. Based on the Company) Tj ET Q q 0 0 0 rg BT 326.12 306.10 Td (s cash flow modeling and current market and collateral ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 294.10 Td (performance assumptions, these securities have suf) Tj ET Q q 0 0 0 rg BT 235.70 294.10 Td (ficient credit protection levels to receive contractually obligated principal and interest ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 282.10 Td (payments.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 264.10 Td (As part of the Company) Tj ET Q q 0 0 0 rg BT 130.37 264.10 Td (s ongoing security monitoring process, the Company has reviewed its ) Tj ET Q q 0 0 0 rg BT 410.61 264.10 Td (AFS securities in an unrealized loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 252.10 Td (position and concluded that these securities are temporarily depressed and are expected to recover in value as the securities approach ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 240.10 Td (maturity or as real estate related market spreads continue to improve. For these securities in an unrealized loss position where a credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 228.10 Td (impairment has not been recorded, the Company) Tj ET Q q 0 0 0 rg BT 228.94 228.10 Td (s best estimate of expected future cash flows are suf) Tj ET Q q 0 0 0 rg BT 436.74 228.10 Td (ficient to recover the amortized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 216.10 Td (cost basis of the security) Tj ET Q q 0 0 0 rg BT 129.16 216.10 Td (. Furthermore, the Company neither has an intention to sell nor does it expect to be required to sell these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 204.10 Td (securities. For further information regarding the Company) Tj ET Q q 0 0 0 rg BT 267.27 204.10 Td (s impairment analysis, see Other) Tj ET Q q 0 0 0 rg BT 397.32 204.10 Td (-Than-T) Tj ET Q q 0 0 0 rg BT 429.93 204.10 Td (emporary Impairments in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 192.10 Td (Investment Portfolio Risks and Risk Management section of this MD&A.) Tj ET Q endstream endobj 237 0 obj <> endobj 238 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.65 20.10 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 20.10 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The following table presents the Company) Tj ET Q q 0 0 0 rg BT 204.52 713.10 Td (s unrealized loss aging for ) Tj ET Q q 0 0 0 rg BT 311.44 713.10 Td (AFS securities by length of time the security was in a continuous ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (unrealized loss position.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 638.60 147.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.00 638.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 638.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 638.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.00 638.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 638.60 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 638.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 638.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 638.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 608.60 147.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.00 608.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 608.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 608.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.00 608.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 608.60 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 608.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 608.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 608.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 578.60 147.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 179.00 578.60 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 213.00 578.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 269.00 578.60 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 309.00 578.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 578.60 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 578.60 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 578.60 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 578.60 55.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 179 670.6 m 213 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 213 670.6 m 269 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 269 670.6 m 309 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 309 670.6 m 364 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364 670.6 m 397 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 670.6 m 449 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 670.6 m 492 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 670.6 m 547 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 638.6 m 179 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 179 670.6 m 213 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 179 638.6 m 213 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 213 670.6 m 269 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 213 638.6 m 269 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 269 670.6 m 309 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 269 638.6 m 309 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 309 670.6 m 364 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 309 638.6 m 364 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364 670.6 m 397 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364 638.6 m 397 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 670.6 m 449 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 638.6 m 449 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 670.6 m 492 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 638.6 m 492 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 670.6 m 547 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 638.6 m 547 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 638.6 m 179 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 179 638.6 m 213 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 213 638.6 m 269 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 269 638.6 m 309 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 309 638.6 m 364 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364 638.6 m 397 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 638.6 m 449 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 638.6 m 492 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 638.6 m 547 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 563.6 m 179 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 551.6 m 179 551.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 179 563.6 m 213 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 179 551.6 m 213 551.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 213 563.6 m 269 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 213 551.6 m 269 551.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 269 563.6 m 309 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 269 551.6 m 309 551.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 309 563.6 m 364 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309 551.6 m 364 551.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364 563.6 m 397 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 551.6 m 397 551.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 563.6 m 449 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 551.6 m 449 551.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 449 563.6 m 492 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 551.6 m 492 551.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 563.6 m 547 563.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 551.6 m 547 551.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 675.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 234.70 675.05 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 418.70 675.05 Td (December 31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 643.05 Td (Consecutive Months) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 184.75 643.05 Td (Items) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 226.45 661.05 Td (Cost or) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 220.00 652.05 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.75 643.05 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 280.30 652.05 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 277.65 643.05 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 315.05 652.05 Td (Unrealized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 320.85 643.05 Td (Loss [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 369.25 643.05 Td (Items) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 408.45 661.05 Td (Cost or) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 402.00 652.05 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 413.75 643.05 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.80 652.05 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.15 643.05 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.05 652.05 Td (Unrealized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.85 643.05 Td (Loss [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 629.17 Td (Three months or less) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.60 628.27 Td (1,184) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 215.50 628.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.65 628.27 Td (10,056) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.50 628.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.60 628.27 Td (9,939) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 311.50 628.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.80 628.32 Td (\(117) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 628.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.10 628.27 Td (771) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 628.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.65 628.27 Td (3,964) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.50 628.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.60 628.27 Td (3,893) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.50 628.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.80 628.32 Td (\(71) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.15 628.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 614.17 Td (Greater than three to six months) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.10 613.27 Td (349) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.65 613.27 Td (1,200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.60 613.27 Td (1,167) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.80 613.32 Td (\(33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 613.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.10 613.27 Td (306) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.15 613.27 Td (764) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.15 613.27 Td (730) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.80 613.32 Td (\(34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.15 613.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 599.17 Td (Greater than six to nine months) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.10 598.27 Td (956) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.65 598.27 Td (6,362) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.60 598.27 Td (5,988) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.80 598.32 Td (\(374) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 598.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.10 598.27 Td (183) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.15 598.27 Td (157) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.15 598.27 Td (142) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.80 598.32 Td (\(15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.15 598.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 584.17 Td (Greater than nine to eleven months) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.10 583.27 Td (148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.15 583.27 Td (413) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.15 583.27 Td (374) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.80 583.32 Td (\(39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 583.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.15 583.27 Td (64) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.15 583.27 Td (96) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.15 583.27 Td (90) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.80 583.32 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.15 583.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 569.17 Td (Twelve months or more) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.10 568.27 Td (578) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.65 568.27 Td (5,625) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.60 568.27 Td (5,109) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.80 568.32 Td (\(514) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 568.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.10 568.27 Td (687) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.65 568.27 Td (7,850) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.60 568.27 Td (6,894) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.80 568.32 Td (\(936) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.15 568.27 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 554.33 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 186.60 554.33 Td (3,215) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.50 554.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 237.65 554.33 Td (23,656) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 271.50 554.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 277.60 554.33 Td (22,577) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 311.50 554.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 334.30 554.38 Td (\(1,077) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 360.15 554.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.60 554.33 Td (2,011) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.50 554.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 417.65 554.33 Td (12,831) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 451.50 554.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 460.60 554.33 Td (11,749) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.50 554.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.30 554.38 Td (\(1,062) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 543.15 554.33 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 535.30 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 535.30 Td (Unr) Tj ET Q q 0 0 0 rg BT 63.67 535.30 Td (ealized losses exclude the fair value of bifur) Tj ET Q q 0 0 0 rg BT 221.55 535.30 Td (cated embedded derivative featur) Tj ET Q q 0 0 0 rg BT 341.42 535.30 Td (es of certain securities as changes in value ar) Tj ET Q q 0 0 0 rg BT 505.56 535.30 Td (e r) Tj ET Q q 0 0 0 rg BT 514.97 535.30 Td (ecor) Tj ET Q q 0 0 0 rg BT 530.63 535.30 Td (ded in net ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 524.50 Td (r) Tj ET Q q 0 0 0 rg BT 52.67 524.50 Td (ealized capital gains \(losses\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 501.70 Td (The following tables present the Company) Tj ET Q q 0 0 0 rg BT 204.52 501.70 Td (s unrealized loss aging for ) Tj ET Q q 0 0 0 rg BT 311.44 501.70 Td (AFS securities continuously depressed over ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.91 501.70 Td (20%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.24 501.70 Td ( by length of time ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 489.70 Td (\(included in the table above\).) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 427.20 152.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 427.20 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 427.20 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.00 427.20 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 427.20 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 427.20 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 427.20 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 427.20 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 427.20 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 397.20 152.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 397.20 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 397.20 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.00 397.20 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 397.20 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 397.20 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 397.20 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 397.20 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 397.20 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 367.20 152.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 367.20 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 218.00 367.20 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 274.00 367.20 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 367.20 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 369.00 367.20 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 367.20 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 367.20 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 497.00 367.20 55.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184 459.2 m 218 459.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 218 459.2 m 274 459.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274 459.2 m 314 459.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 459.2 m 369 459.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369 459.2 m 402 459.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 402 459.2 m 454 459.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454 459.2 m 497 459.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 497 459.2 m 552 459.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 427.2 m 184 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184 427.2 m 218 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 218 427.2 m 274 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274 427.2 m 314 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 427.2 m 369 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369 427.2 m 402 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 402 427.2 m 454 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454 427.2 m 497 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 497 427.2 m 552 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 427.2 m 184 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184 427.2 m 218 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 218 427.2 m 274 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274 427.2 m 314 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 427.2 m 369 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369 427.2 m 402 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 402 427.2 m 454 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454 427.2 m 497 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 497 427.2 m 552 427.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 352.2 m 184 352.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 338.2 m 184 338.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184 352.2 m 218 352.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184 338.2 m 218 338.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 218 352.2 m 274 352.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 218 338.2 m 274 338.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 274 352.2 m 314 352.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 274 338.2 m 314 338.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 352.2 m 369 352.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 338.2 m 369 338.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 369 352.2 m 402 352.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 369 338.2 m 402 338.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 402 352.2 m 454 352.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 338.2 m 454 338.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 454 352.2 m 497 352.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 338.2 m 497 338.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 497 352.2 m 552 352.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 338.2 m 552 338.2 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 463.66 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 239.70 463.65 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 423.70 463.65 Td (December 31, 2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 431.88 Td (Consecutive Months) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 189.75 431.65 Td (Items) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.45 449.65 Td (Cost or) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 225.00 440.65 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 236.75 431.65 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 285.30 440.65 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.65 431.65 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 320.05 440.65 Td (Unrealized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 325.85 431.65 Td (Loss [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 374.25 431.65 Td (Items) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 413.45 449.65 Td (Cost or) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 407.00 440.65 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 418.75 431.65 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.80 440.65 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.15 431.65 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.05 440.65 Td (Unrealized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.85 431.65 Td (Loss [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 417.77 Td (Three months or less) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.15 416.87 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.50 416.87 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.15 416.87 Td (213) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.50 416.87 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.15 416.87 Td (162) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.50 416.87 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.80 416.92 Td (\(51) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 416.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.15 416.87 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.50 416.87 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 416.87 Td (54) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.50 416.87 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.15 416.87 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.50 416.87 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.80 416.87 Td (\(18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 416.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 402.77 Td (Greater than three to six months) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.15 401.87 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.15 401.87 Td (177) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.15 401.87 Td (130) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.80 401.92 Td (\(47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 401.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.15 401.87 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 401.87 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.15 401.87 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.80 401.87 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 401.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 387.77 Td (Greater than six to nine months) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.15 386.87 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.15 386.87 Td (449) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.15 386.87 Td (336) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.80 386.92 Td (\(113) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 386.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.15 386.87 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 386.87 Td (72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.15 386.87 Td (55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.80 386.87 Td (\(17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 386.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 372.77 Td (Greater than nine to eleven months) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.15 371.87 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.15 371.87 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.15 371.87 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.80 371.92 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 371.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.15 371.87 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 371.87 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.15 371.87 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.80 371.87 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 371.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 357.77 Td (Twelve months or more) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.15 356.87 Td (58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.15 356.87 Td (132) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 356.87 Td (93) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.80 356.92 Td (\(39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 356.87 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.10 356.87 Td (157) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.65 356.87 Td (1,329) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.15 356.87 Td (877) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.80 356.87 Td (\(452) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 356.87 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 342.93 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 199.10 342.88 Td (179) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 220.50 342.88 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 255.15 342.88 Td (975) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 276.50 342.88 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.15 342.88 Td (724) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.50 342.88 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.80 342.93 Td (\(251) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 365.15 342.88 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.10 342.88 Td (284) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 404.50 342.88 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.65 342.88 Td (1,510) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 456.50 342.88 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.60 342.88 Td (1,009) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 499.50 342.88 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 529.80 342.88 Td (\(501) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.15 342.88 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 321.90 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 321.90 Td (Unr) Tj ET Q q 0 0 0 rg BT 63.67 321.90 Td (ealized losses exclude the fair value of bifur) Tj ET Q q 0 0 0 rg BT 221.55 321.90 Td (cated embedded derivatives featur) Tj ET Q q 0 0 0 rg BT 344.92 321.90 Td (es of certain securities as changes in value ar) Tj ET Q q 0 0 0 rg BT 509.06 321.90 Td (e r) Tj ET Q q 0 0 0 rg BT 518.47 321.90 Td (ecor) Tj ET Q q 0 0 0 rg BT 534.13 321.90 Td (ded in net ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 311.10 Td (r) Tj ET Q q 0 0 0 rg BT 52.67 311.10 Td (ealized capital gains \(losses\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 288.30 Td (The following tables present the Company) Tj ET Q q 0 0 0 rg BT 204.52 288.30 Td (s unrealized loss aging for ) Tj ET Q q 0 0 0 rg BT 311.44 288.30 Td (AFS securities continuously depressed over 50% by length of time ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 276.30 Td (\(included in the tables above\).) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 211.80 153.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.00 211.80 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.00 211.80 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 211.80 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 211.80 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 211.80 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 211.80 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 211.80 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 211.80 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 181.80 153.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.00 181.80 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.00 181.80 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 181.80 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 181.80 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 181.80 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 181.80 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 181.80 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 181.80 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 151.80 153.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.00 151.80 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 219.00 151.80 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 151.80 40.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 151.80 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 151.80 33.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 151.80 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 151.80 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 151.80 55.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 185 245.79999999999995 m 219 245.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 219 245.79999999999995 m 275 245.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 275 245.79999999999995 m 315 245.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315 245.79999999999995 m 370 245.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 245.79999999999995 m 403 245.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 245.79999999999995 m 455 245.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455 245.79999999999995 m 498 245.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498 245.79999999999995 m 553 245.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 211.79999999999995 m 185 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 185 211.79999999999995 m 219 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 219 211.79999999999995 m 275 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 275 211.79999999999995 m 315 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315 211.79999999999995 m 370 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 211.79999999999995 m 403 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 211.79999999999995 m 455 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455 211.79999999999995 m 498 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498 211.79999999999995 m 553 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 211.79999999999995 m 185 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 185 211.79999999999995 m 219 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 219 211.79999999999995 m 275 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 275 211.79999999999995 m 315 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315 211.79999999999995 m 370 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 211.79999999999995 m 403 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 211.79999999999995 m 455 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455 211.79999999999995 m 498 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498 211.79999999999995 m 553 211.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 136.79999999999995 m 185 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 122.79999999999995 m 185 122.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 185 136.79999999999995 m 219 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185 122.79999999999995 m 219 122.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 219 136.79999999999995 m 275 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 219 122.79999999999995 m 275 122.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 275 136.79999999999995 m 315 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275 122.79999999999995 m 315 122.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315 136.79999999999995 m 370 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 122.79999999999995 m 370 122.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 136.79999999999995 m 403 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 122.79999999999995 m 403 122.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 136.79999999999995 m 455 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 122.79999999999995 m 455 122.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455 136.79999999999995 m 498 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 122.79999999999995 m 498 122.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498 136.79999999999995 m 553 136.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 122.79999999999995 m 553 122.79999999999995 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 250.26 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 240.70 250.25 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.70 250.25 Td (December 31, 2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 216.48 Td (Consecutive Months) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 190.75 216.25 Td (Items) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 232.45 234.25 Td (Cost or) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 226.00 225.25 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 237.75 216.25 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 286.30 225.25 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 283.65 216.25 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.05 225.25 Td (Unrealized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 326.85 216.25 Td (Loss [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 375.25 216.25 Td (Items) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.45 234.25 Td (Cost or) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 408.00 225.25 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 419.75 216.25 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 467.80 225.25 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.15 216.25 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.05 225.25 Td (Unrealized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.85 216.25 Td (Loss [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 202.37 Td (Three months or less) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 210.15 201.47 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.50 201.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.15 201.47 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.50 201.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 201.47 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.50 201.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.80 201.52 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 201.47 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 201.47 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 201.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 201.47 Td (48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 201.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 201.47 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.50 201.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.80 201.47 Td (\(26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.15 201.47 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 187.37 Td (Greater than three to six months) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 210.15 186.47 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.15 186.47 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.15 186.47 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.80 186.52 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 186.47 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 186.47 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 186.47 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 186.47 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.80 186.47 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.15 186.47 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 172.37 Td (Greater than six to nine months) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 210.15 171.47 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.15 171.47 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 171.47 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.80 171.52 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 171.47 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 171.47 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 171.47 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 171.47 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.80 171.47 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.15 171.47 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 157.37 Td (Greater than nine to eleven months) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.15 156.47 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 261.15 156.47 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 156.47 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.15 156.47 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 156.47 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 156.47 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 156.47 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.80 156.47 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.15 156.47 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 142.37 Td (Twelve months or more) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.15 141.47 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.15 141.47 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 141.47 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.80 141.52 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 141.47 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 141.47 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.15 141.47 Td (147) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 141.47 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.80 141.47 Td (\(90) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.15 141.47 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 127.53 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 205.15 127.48 Td (33) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 221.50 127.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.15 127.48 Td (6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 277.50 127.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 306.15 127.48 Td (1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 317.50 127.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 357.80 127.53 Td (\(5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 366.15 127.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.15 127.48 Td (62) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.50 127.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.15 127.48 Td (199) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.50 127.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 484.15 127.48 Td (79) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 500.50 127.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 530.80 127.48 Td (\(120) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.15 127.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 106.50 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 106.50 Td (Unr) Tj ET Q q 0 0 0 rg BT 63.67 106.50 Td (ealized losses exclude the fair value of bifur) Tj ET Q q 0 0 0 rg BT 221.55 106.50 Td (cate embedded derivatives featur) Tj ET Q q 0 0 0 rg BT 340.42 106.50 Td (es of certain securities as changes in value ar) Tj ET Q q 0 0 0 rg BT 504.56 106.50 Td (e r) Tj ET Q q 0 0 0 rg BT 513.97 106.50 Td (ecor) Tj ET Q q 0 0 0 rg BT 529.63 106.50 Td (ded in net ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 95.70 Td (r) Tj ET Q q 0 0 0 rg BT 52.67 95.70 Td (ealized capital gains \(losses\).) Tj ET Q endstream endobj 239 0 obj <> endobj 240 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.65 20.10 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 20.10 Td (19) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Other) Tj ET Q q 0 0 0 rg BT 54.63 713.10 Td (-Than-T) Tj ET Q q 0 0 0 rg BT 86.50 713.10 Td (emporary Impairments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The following table presents the Company) Tj ET Q q 0 0 0 rg BT 204.52 695.10 Td (s impairments recognized in earnings by security type excluding intent-to-sell impairment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (relating to the sales of Retirement Plans and Individual Life businesses.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 637.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 637.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 637.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 637.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 607.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 607.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 607.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 607.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 577.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 577.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 577.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 577.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 547.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 547.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 547.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 547.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 517.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 517.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 517.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 517.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 487.60 306.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 487.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 487.60 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 487.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 652.6 m 403 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 652.6 m 468 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 652.6 m 533 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 637.6 m 338 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 652.6 m 403 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 637.6 m 403 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 652.6 m 468 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 637.6 m 468 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 652.6 m 533 652.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 637.6 m 533 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 637.6 m 403 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 637.6 m 468 637.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 637.6 m 533 637.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 472.6 m 338 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 457.6 m 338 457.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 472.6 m 403 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 457.6 m 403 457.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 472.6 m 468 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 457.6 m 468 457.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 472.6 m 533 472.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 457.6 m 533 457.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 657.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.40 657.28 Td (For the years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 642.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 360.00 642.28 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 417.90 642.28 Td (2012 [1]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.25 642.28 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 627.27 Td (ABS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 627.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 627.27 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 627.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 627.27 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 627.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 627.27 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 612.27 Td (CRE CDOs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 612.27 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 612.27 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 612.27 Td (41) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 597.27 Td (CMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 582.27 Td (Bonds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 582.27 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 582.27 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 582.27 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 567.27 Td (IOs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 567.27 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.15 567.27 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 567.27 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 552.27 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 552.27 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 552.27 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 552.27 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 537.27 Td (Equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 537.27 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 537.27 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 537.27 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 522.27 Td (RMBS Non-agency) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 522.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 522.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 522.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 507.27 Td (RMBS Alt-A) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 507.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.15 507.27 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 507.27 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 492.27 Td (RMBS sub-prime) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 492.27 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 492.27 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 492.27 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 477.27 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 477.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 477.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 477.27 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 462.27 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.50 462.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.15 462.28 Td (73) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.50 462.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 449.15 462.28 Td (172) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.50 462.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.15 462.28 Td (174) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 440.10 Td ([1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.00 440.10 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 440.10 Td (Excludes $177 of intent-to-sell impairments r) Tj ET Q q 0 0 0 rg BT 212.39 440.10 Td (elated to the sales of the Retir) Tj ET Q q 0 0 0 rg BT 319.54 440.10 Td (ement Plans and Individual Life businesses.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 422.10 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 422.10 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 422.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 404.10 Td (For the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.69 404.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.28 404.10 Td (, impairments recognized in earnings were comprised of credit impairments of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.28 404.10 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.28 404.10 Td (, securities that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 392.10 Td (the Company intends to sell of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.49 392.10 Td ($26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.49 392.10 Td ( and impairments on equity securities of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.50 392.10 Td ($15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.50 392.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 374.10 Td (Credit impairments were primarily concentrated in corporate and fixed-rate CMBS bonds. ) Tj ET Q q 0 0 0 rg BT 397.04 374.10 Td (The corporate bonds were impaired due to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 362.10 Td (two issuers that have experienced financial dif) Tj ET Q q 0 0 0 rg BT 216.80 362.10 Td (ficulty and either defaulted or are expected to default on contractually obligated principal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 350.10 Td (and interest payments. ) Tj ET Q q 0 0 0 rg BT 126.02 350.10 Td (The structured securities were impaired primarily due to actual performance or property-specific deterioration of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 338.10 Td (the underlying collateral. ) Tj ET Q q 0 0 0 rg BT 134.06 338.10 Td (The Company calculated these impairments utilizing both a top down modeling approach and a security-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 326.10 Td (specific collateral review) Tj ET Q q 0 0 0 rg BT 131.35 326.10 Td (. ) Tj ET Q q 0 0 0 rg BT 136.17 326.10 Td (The top down modeling approach used discounted cash flow models that considered losses under current and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 314.10 Td (expected future economic conditions. ) Tj ET Q q 0 0 0 rg BT 183.39 314.10 Td (Assumptions used over the period included current macroeconomic factors, such as the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 302.10 Td (unemployment rate, as well as sector specific factors such as property values, delinquency levels, servicer behavior) Tj ET Q q 0 0 0 rg BT 492.04 302.10 Td (, and severity rates. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 290.10 Td (The macroeconomic assumptions considered by the Company did not materially change during ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.29 290.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.29 290.10 Td ( and, as such, the credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 278.10 Td (impairments recognized for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.31 278.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.90 278.10 Td ( were primarily driven by actual or expected collateral deterioration, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 266.10 Td (lar) Tj ET Q q 0 0 0 rg BT 41.87 266.10 Td (gely as a result of the Company) Tj ET Q q 0 0 0 rg BT 171.28 266.10 Td (s security-specific collateral review) Tj ET Q q 0 0 0 rg BT 312.51 266.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 248.10 Td (The security-specific collateral review is performed to estimate potential future losses. ) Tj ET Q q 0 0 0 rg BT 379.52 248.10 Td (This review incorporates assumptions about ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 236.10 Td (expected future collateral cash flows, including projected default rates and severities. ) Tj ET Q q 0 0 0 rg BT 374.23 236.10 Td (The results of the security-specific collateral ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 224.10 Td (review allowed the Company to estimate the expected timing of a security) Tj ET Q q 0 0 0 rg BT 331.13 224.10 Td (s first loss, if any) Tj ET Q q 0 0 0 rg BT 399.09 224.10 Td (, and the probability and severity of potential ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 212.10 Td (ultimate losses. ) Tj ET Q q 0 0 0 rg BT 95.48 212.10 Td (The Company then discounted these anticipated future cash flows at the security) Tj ET Q q 0 0 0 rg BT 420.10 212.10 Td (s book yield prior to impairment.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 194.10 Td (Intent-to-sell impairments were primarily related to structured securities with exposure to commercial and residential real estate and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 182.10 Td (corporate securities, as a result of the Company's desire to reduce exposure to certain higher risk securities that are currently trading at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 170.10 Td (relatively attractive valuations. Impairments on equity securities were comprised of securities that have been in an unrealized loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 158.10 Td (position and the Company no longer believes the securities will recover within the foreseeable future.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 140.10 Td (In addition to the credit impairments recognized in earnings, the Company recognized non-credit impairments in other comprehensive ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 128.10 Td (income of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.26 128.10 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.26 128.10 Td ( for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 166.72 128.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.31 128.10 Td (, predominantly concentrated in CMBS and corporate securities. ) Tj ET Q q 0 0 0 rg BT 505.05 128.10 Td (These non-credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 116.10 Td (impairments represent the dif) Tj ET Q q 0 0 0 rg BT 148.78 116.10 Td (ference between fair value and the Company) Tj ET Q q 0 0 0 rg BT 330.36 116.10 Td (s best estimate of expected future cash flows discounted at the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 104.10 Td (security) Tj ET Q q 0 0 0 rg BT 65.93 104.10 Td (s ef) Tj ET Q q 0 0 0 rg BT 79.91 104.10 Td (fective yield prior to impairment, rather than at current market implied credit spreads. ) Tj ET Q q 0 0 0 rg BT 424.88 104.10 Td (These non-credit impairments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 92.10 Td (primarily represent increases in market liquidity premiums and credit spread widening that occurred after the securities were purchased, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 80.10 Td (as well as a discount for variable-rate coupons which are paying less than at purchase date. In general, lar) Tj ET Q q 0 0 0 rg BT 452.82 80.10 Td (ger liquidity premiums and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 68.10 Td (wider credit spreads are the result of deterioration of the underlying collateral performance of the securities, as well as the risk premium ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 56.10 Td (required to reflect future uncertainty in the real estate market.) Tj ET Q endstream endobj 241 0 obj <> endobj 242 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (120) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Future impairments may develop as the result of changes in intent to sell specific securities or if actual results underperform current ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (modeling assumptions, which may be the result of, but are not limited to, macroeconomic factors and security-specific performance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (below current expectations. Ultimate loss formation will be a function of macroeconomic factors and idiosyncratic security-specific ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (performance. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 659.10 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 659.10 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (For the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.69 641.10 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.28 641.10 Td (, impairments recognized in earnings were comprised of intent-to-sell impairments of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.62 641.10 Td ($238) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.62 641.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (which included ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.37 629.10 Td ($177) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.37 629.10 Td ( related to the sale of the Retirement Plans and Individual Life businesses. ) Tj ET Q q 0 0 0 rg BT 421.13 629.10 Td (Also included were impairments on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (equity securities of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.09 617.10 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 125.09 617.10 Td ( lar) Tj ET Q q 0 0 0 rg BT 137.96 617.10 Td (gely comprised of downgraded preferred equity securities of financial institutions. ) Tj ET Q q 0 0 0 rg BT 471.56 617.10 Td (The Company's credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (impairments totaled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 113.70 605.10 Td ($48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 128.70 605.10 Td (, primarily concentrated in structured securities associated with residential and commercial real estate, as well as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (ABS small business. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 575.10 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 575.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 152.86 575.10 Td (1) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 157.86 575.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (For the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.69 557.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 181.91 557.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.91 557.10 Td (, impairments recognized in earnings were comprised of credit impairments of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.91 557.10 Td (125) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.91 557.10 Td (, primarily ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (concentrated on structured securities associated with commercial real estate, as well as direct private investments. ) Tj ET Q q 0 0 0 rg BT 488.27 545.10 Td (Also included were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (impairments on debt securities for which the Company intended to sell of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.10 533.10 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.10 533.10 Td (, mainly comprised of corporate bonds, certain ) Tj ET Q q 0 0 0 rg BT 531.66 533.10 Td (ABS ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (aircraft bonds and CMBS, as market pricing improved, as well as impairments on equity securities of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.19 521.10 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.19 521.10 Td ( primarily related to preferred ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (stock associated with direct private investments.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 491.10 Td (V) Tj ET Q q 0 0 0 rg BT 36.50 491.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 72.15 491.10 Td (Allowances on Mortgage Loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (The following table presents \(additions\)/reversals to valuation allowances on mortgage loans.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 427.60 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 427.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 427.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 427.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 399.60 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 399.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 399.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 399.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 371.60 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 371.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 371.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 371.60 65.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 442.6 m 403 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 442.6 m 468 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 442.6 m 533 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 427.6 m 338 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 442.6 m 403 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 427.6 m 403 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 442.6 m 468 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 427.6 m 468 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 442.6 m 533 442.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 427.6 m 533 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 427.6 m 403 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 427.6 m 468 427.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 427.6 m 533 427.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 357.6 m 338 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 344.6 m 338 344.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338 357.6 m 403 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 344.6 m 403 344.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403 357.6 m 468 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 344.6 m 468 344.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 357.6 m 533 357.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 344.6 m 533 344.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 447.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.40 447.28 Td (For the years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 432.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.75 432.28 Td ( 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.00 432.28 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.25 432.28 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 418.17 Td (Credit-related concerns) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 418.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.80 418.22 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 418.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 418.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 418.17 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 418.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 418.17 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 404.17 Td (Held for sale) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 404.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 404.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 404.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 390.17 Td (Agricultural loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 390.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 390.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.80 390.22 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 390.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 376.17 Td (B-note participations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 376.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 376.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 376.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 362.17 Td (Mezzanine loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.15 362.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 362.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 362.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 348.33 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.50 348.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 390.80 348.38 Td (\(2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.15 348.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.50 348.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.15 348.33 Td (14) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.50 348.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.15 348.33 Td (24) Tj ET Q BT /F2 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 327.10 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 327.10 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 327.10 Td (December31, 2013) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 327.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 309.10 Td (For the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.69 309.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.28 309.10 Td (, the change in valuation allowances on mortgage loan additions of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.20 309.10 Td ($\(2\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.86 309.10 Td ( was lar) Tj ET Q q 0 0 0 rg BT 504.78 309.10 Td (gely driven by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 297.10 Td (individual property performance. Continued improvement in commercial real estate property valuations will positively impact future ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 285.10 Td (loss development, with future impairments driven by idiosyncratic loan-specific performance, as well as the necessity of risk reduction ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 273.10 Td (in the portfolio, rather than overall deteriorating market fundamentals. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 255.10 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 255.10 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 255.10 Td (December 31, 2012) Tj ET Q BT /F5 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 237.10 Td (For the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.69 237.10 Td (December 31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.28 237.10 Td (, the change in valuation allowances on mortgage loan reversals of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.07 237.10 Td ($14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.07 237.10 Td ( was lar) Tj ET Q q 0 0 0 rg BT 501.99 237.10 Td (gely driven by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 225.10 Td (recovery of the property collateralizing a B-Note. ) Tj ET Q q 0 0 0 rg BT 234.29 225.10 Td (The valuation allowance was reversed due to an increase in the valuation of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 213.10 Td (underlying collateral as a result of improved occupancy rates and performance of the property) Tj ET Q q 0 0 0 rg BT 406.53 213.10 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 195.10 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 195.10 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 195.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 152.86 195.10 Td (1) Tj ET Q BT /F5 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 177.10 Td (For the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.58 177.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 185.80 177.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.80 177.10 Td (, the change in valuation allowances on mortgage loan reversals of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.59 177.10 Td ($24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.59 177.10 Td ( was lar) Tj ET Q q 0 0 0 rg BT 505.51 177.10 Td (gely driven by the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 165.10 Td (release of a reserve associated with the sale of a previously reserved for mezzanine loan. Excluded from the table above are valuation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 153.10 Td (allowances associated with mortgage loans related to the divestiture of Federal ) Tj ET Q q 0 0 0 rg BT 348.71 153.10 Td (T) Tj ET Q q 0 0 0 rg BT 354.47 153.10 Td (rust Corporation. For further information regarding the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 141.10 Td (divestiture of Federal ) Tj ET Q q 0 0 0 rg BT 119.35 141.10 Td (T) Tj ET Q q 0 0 0 rg BT 125.10 141.10 Td (rust Corporation, see Note 20 of Notes to the Consolidated Financial Statements.) Tj ET Q endstream endobj 243 0 obj <> endobj 244 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (121) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (CAPIT) Tj ET Q q 0 0 0 rg BT 61.87 713.25 Td (AL) Tj ET Q q 0 0 0 rg BT 75.21 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 77.71 713.25 Td (RESOURCES ) Tj ET Q q 0 0 0 rg BT 140.79 713.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 164.95 713.25 Td (LIQUIDITY) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 696.25 Td (The following section discusses the overall financial strength of ) Tj ET Q q 0 0 0 rg BT 289.31 696.25 Td (The Hartford and its insurance operations including their ability to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 684.25 Td (generate cash flows from each of their business segments, borrow funds at competitive rates and raise new capital to meet operating and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 672.25 Td (growth needs over the next twelve months.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 654.25 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 71.22 654.25 Td (Requirements ) Tj ET Q q 0 0 0 rg BT 130.95 654.25 Td (and ) Tj ET Q q 0 0 0 rg BT 149.01 654.25 Td (Sources ) Tj ET Q q 0 0 0 rg BT 184.29 654.25 Td (of ) Tj ET Q q 0 0 0 rg BT 195.12 654.25 Td (Capital) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 636.25 Td (The ) Tj ET Q q 0 0 0 rg BT 50.67 636.25 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 92.05 636.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 134.55 636.25 Td (Services ) Tj ET Q q 0 0 0 rg BT 172.04 636.25 Td (Gr) Tj ET Q q 0 0 0 rg BT 184.07 636.25 Td (oup, ) Tj ET Q q 0 0 0 rg BT 205.20 636.25 Td (Inc.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 618.25 Td (The liquidity requirements of the holding company of ) Tj ET Q q 0 0 0 rg BT 249.05 618.25 Td (The Hartford Financial Services Group, Inc. \(HFSG Holding Company\) have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 606.25 Td (been and will continue to be met by HFSG Holding Company) Tj ET Q q 0 0 0 rg BT 282.03 606.25 Td (s fixed maturities, short-term investments and cash, dividends from its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 594.25 Td (subsidiaries, principally its insurance operations, as well as the issuance of common stock, debt or other capital securities and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 582.25 Td (borrowings from its credit facilities, as needed. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 564.25 Td (As of December 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 114.53 564.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 564.25 Td (, HFSG Holding Company held fixed maturities, short-term investments and cash of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.48 564.25 Td ($1.9 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.59 564.25 Td (. On February ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 552.25 Td (22, 2013, following extraordinary dividend approval from the State of Connecticut Insurance Department, $1.2 billion was distributed to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 540.25 Td (the HFSG Holding Company from its Connecticut domiciled life insurance subsidiaries. In addition, Champlain Life Reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 528.25 Td (Company) Tj ET Q q 0 0 0 rg BT 69.74 528.25 Td (, the Company's ) Tj ET Q q 0 0 0 rg BT 136.35 528.25 Td (V) Tj ET Q q 0 0 0 rg BT 142.47 528.25 Td (ermont life reinsurance captive, returned approximately $340 of capital to the HFSG Holding Company) Tj ET Q q 0 0 0 rg BT 556.71 528.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 510.25 Td (The Hartford has an intercompany liquidity agreement that allows for short-term advances of funds among the HFSG Holding Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 498.25 Td (and certain af) Tj ET Q q 0 0 0 rg BT 85.73 498.25 Td (filiates of up to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.05 498.25 Td ($2.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 166.55 498.25 Td ( billion for liquidity and other general corporate purposes. ) Tj ET Q q 0 0 0 rg BT 400.75 498.25 Td (The Connecticut Insurance Department ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 486.25 Td (granted approval for certain af) Tj ET Q q 0 0 0 rg BT 152.92 486.25 Td (filiated insurance companies that are parties to the agreement to treat receivables from a parent, including ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 474.25 Td (the HFSG Holding Company) Tj ET Q q 0 0 0 rg BT 147.80 474.25 Td (, as admitted assets for statutory accounting purposes. On ) Tj ET Q q 0 0 0 rg BT 379.70 474.25 Td (April 29, 2013 Hartford Life Insurance Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 462.25 Td (\("HLIC"\), an indirect wholly-owned subsidiary of the Company) Tj ET Q q 0 0 0 rg BT 287.30 462.25 Td (, issued a Revolving Note \(the "Note"\) in the principal amount of $100 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 450.25 Td (to Hartford Life and ) Tj ET Q q 0 0 0 rg BT 114.25 450.25 Td (Accident Insurance Company \("HLA"\), a subsidiary of the Company) Tj ET Q q 0 0 0 rg BT 390.30 450.25 Td (, under the intercompany liquidity agreement. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 438.25 Td (The Note bears interest at 0.92% and matures on ) Tj ET Q q 0 0 0 rg BT 228.11 438.25 Td (April 29, 2014. On May 29, 2013 Hartford Life and ) Tj ET Q q 0 0 0 rg BT 437.24 438.25 Td (Annuity Insurance Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 426.25 Td (\("HLAI"\), an indirect wholly-owned subsidiary of the Company) Tj ET Q q 0 0 0 rg BT 287.85 426.25 Td (, issued a Note in the principal amount of $225 to Hartford Life and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 414.25 Td (Accident Insurance Company) Tj ET Q q 0 0 0 rg BT 149.70 414.25 Td (, under the intercompany liquidity agreement. ) Tj ET Q q 0 0 0 rg BT 335.02 414.25 Td (The Note bears interest at 1.00% and matures on May 29, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 402.25 Td (2014. On February 28, 2014, the total outstanding balances on these notes were repaid in full.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 384.25 Td (HLAI cedes certain variable annuity contracts and their associated riders as well as certain payout annuities issued by HLAI or assumed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 372.25 Td (by it to ) Tj ET Q q 0 0 0 rg BT 62.15 372.25 Td (White River Life Reinsurance Company \("WRR"\), an af) Tj ET Q q 0 0 0 rg BT 288.40 372.25 Td (filiate captive reinsurer) Tj ET Q q 0 0 0 rg BT 380.58 372.25 Td (. ) Tj ET Q q 0 0 0 rg BT 385.40 372.25 Td (This arrangement provides the Company with a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 360.25 Td (vehicle to provide more ef) Tj ET Q q 0 0 0 rg BT 136.83 360.25 Td (ficient financing of the risk associated with this business with internal funds. ) Tj ET Q q 0 0 0 rg BT 448.26 360.25 Td (The reinsurance arrangement ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 348.25 Td (between HLAI and ) Tj ET Q q 0 0 0 rg BT 110.46 348.25 Td (WRR does not impact the Company's reserving methodology or the amount of required regulatory capital associated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 336.25 Td (with the reinsured business. ) Tj ET Q q 0 0 0 rg BT 144.91 336.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 170.55 336.25 Td (fects of this intercompany arrangement are eliminated in consolidation.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 318.25 Td (Pursuant to an intercompany note agreement between ) Tj ET Q q 0 0 0 rg BT 248.19 318.25 Td (WRR and HFSG Holding Company) Tj ET Q q 0 0 0 rg BT 391.99 318.25 Td (, ) Tj ET Q q 0 0 0 rg BT 396.81 318.25 Td (WRR may borrow up to $1 billion from the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 306.25 Td (HFSG Holding Company in order to maintain certain statutory capital levels required by its plan of operations and which can be used by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 294.25 Td (WRR to settle outstanding intercompany payables with HLAI. ) Tj ET Q q 0 0 0 rg BT 286.27 294.25 Td (WRR has borrowed $655 under the intercompany note agreement as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 282.25 Td (December 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.08 282.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 282.25 Td (. ) Tj ET Q q 0 0 0 rg BT 114.90 282.25 Td (The ef) Tj ET Q q 0 0 0 rg BT 140.54 282.25 Td (fects of this intercompany arrangement are eliminated in consolidation. In the first half of 2014, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 270.25 Td (Company expects to dissolve ) Tj ET Q q 0 0 0 rg BT 150.75 270.25 Td (WRR and recapture all reinsured risks to HLAI. ) Tj ET Q q 0 0 0 rg BT 347.73 270.25 Td (The Company will take appropriate action to ensure that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 258.25 Td (its life insurance subsidiaries are adequately capitalized. ) Tj ET Q q 0 0 0 rg BT 260.95 258.25 Td (This transaction is subject to regulatory approvals.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 240.25 Td (On January 31, 2013, the Board of Directors authorized a capital management plan which provided for a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.19 240.25 Td ($500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.19 240.25 Td ( equity repurchase ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 228.25 Td (program to be completed by December 31, 2014 and for the reduction of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.00 228.25 Td ($1.0 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.11 228.25 Td ( of debt including repayment of $320 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 216.25 Td (of 4.625% senior notes due in July 2013 and $200 of 4.75% senior notes due in March 2014. In June 2013, the Board of Directors ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 204.25 Td (approved a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 78.15 204.25 Td ($750) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 98.15 204.25 Td ( increase in the Company's 2013-2014 equity repurchase program, bringing the total authorization to $1.25 billion. On ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 192.25 Td (July 15, 2013, the Company repaid the 4.625% senior notes upon maturity) Tj ET Q q 0 0 0 rg BT 328.58 192.25 Td (. In January 2014, the Board of Directors approved an increase ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 180.25 Td (in the Company's authorized equity repurchase program by an amount that, when combined with the amount remaining under the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 168.25 Td (existing authorization, provides the Company with the ability to repurchase ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.10 168.25 Td ($2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.71 168.25 Td (, in equity during the period commencing on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 156.25 Td (January 1, 2014 and ending on December 31, 2015. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 138.25 Td (Expected liquidity requirements of the HFSG Holding Company for the next twelve months include interest on debt of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 126.25 Td ($380) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 126.25 Td ( and common stockholder dividends, subject to the discretion of the Board of Directors, of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.84 126.25 Td ($270) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.84 126.25 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 108.25 Td (Equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 90.25 Td (During the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 123.13 90.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.71 90.25 Td (, the Company repurchased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.62 90.25 Td (19.2 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.52 90.25 Td ( common shares for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.16 90.25 Td ($600) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.16 90.25 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.10 90.25 Td (1.6 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.99 90.25 Td ( warrants ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 78.25 Td (for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.66 78.25 Td ($33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.66 78.25 Td ( under the equity repurchase program. In addition, the Company repurchased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.84 78.25 Td (7.7 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.73 78.25 Td ( common shares, for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.87 78.25 Td ($262) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.87 78.25 Td (, from January ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 66.25 Td (1, 2014 to February 25, 2014. For further information see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.39 66.25 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.39 66.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.72 66.25 Td (Equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.39 66.25 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q endstream endobj 245 0 obj <> endobj 246 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (122) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Debt) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 693.7669921875 m 83.4384765625 693.7669921875 l s q 0 0 0 rg BT 31.50 695.10 Td (Senior Notes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (On ) Tj ET Q q 0 0 0 rg BT 45.67 677.10 Td (April 15, 2013, the Company issued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.88 677.10 Td ($300) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.88 677.10 Td ( aggregate principal amount of 4.3% Senior Notes \(the "4.3% Notes"\) due ) Tj ET Q q 0 0 0 rg BT 510.97 677.10 Td (April 15, 2043. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (For further information regarding debt, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.55 665.10 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.55 665.10 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.88 665.10 Td (Debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.32 665.10 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (Dividends) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (On ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.22 629.10 Td (February27, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 119.82 629.10 Td (, ) Tj ET Q q 0 0 0 rg BT 124.64 629.10 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 179.89 629.10 Td (s Board of Directors declared a quarterly dividend of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.98 629.10 Td ($0.15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.48 629.10 Td ( per common share payable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (on) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.45 617.10 Td (April1,2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 97.06 617.10 Td ( to common shareholders of record as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.89 617.10 Td (March10, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.49 617.10 Td (. ) Tj ET Q q 0 0 0 rg BT 331.81 617.10 Td (There are no current restrictions on the HFSG Holding ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (Company's ability to pay dividends to its shareholders. For a discussion of restrictions on dividends to the HFSG Holding Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (from its insurance subsidiaries, see "Dividends from Insurance Subsidiaries" below) Tj ET Q q 0 0 0 rg BT 363.94 593.10 Td (. For a discussion of potential restrictions on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.10 Td (HFSG Holding Company's ability to pay dividends, see the risk factor "Our ability to declare and pay dividends is subject to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (limitations".) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 552.10 Td (Pension Plans and Other Postr) Tj ET Q q 0 0 0 rg BT 156.12 552.10 Td (etir) Tj ET Q q 0 0 0 rg BT 169.64 552.10 Td (ement Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 534.10 Td (While the Company has significant discretion in making voluntary contributions to the U. S. qualified defined benefit pension plan, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 522.10 Td (Employee Retirement Income Security ) Tj ET Q q 0 0 0 rg BT 189.23 522.10 Td (Act of 1974, as amended by the Pension Protection ) Tj ET Q q 0 0 0 rg BT 395.86 522.10 Td (Act of 2006, the ) Tj ET Q q 0 0 0 rg BT 463.17 522.10 Td (W) Tj ET Q q 0 0 0 rg BT 471.80 522.10 Td (orker) Tj ET Q q 0 0 0 rg BT 492.50 522.10 Td (, Retiree, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 510.10 Td (Employer Recovery ) Tj ET Q q 0 0 0 rg BT 113.70 510.10 Td (Act of 2008, the Preservation of ) Tj ET Q q 0 0 0 rg BT 243.95 510.10 Td (Access to Care for Medicare Beneficiaries and Pension Relief ) Tj ET Q q 0 0 0 rg BT 493.58 510.10 Td (Act of 2010, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 498.10 Td (Moving ) Tj ET Q q 0 0 0 rg BT 65.12 498.10 Td (Ahead for Progress in the 21st Century ) Tj ET Q q 0 0 0 rg BT 223.15 498.10 Td (Act of 2012 \(MAP-21\) and Internal Revenue Code regulations mandate minimum ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 486.10 Td (contributions in certain circumstances. ) Tj ET Q q 0 0 0 rg BT 188.21 486.10 Td (The Company made contributions to the U. S. qualified defined benefit pension plan of $100, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 474.10 Td ($200 and $200 in 2013, 2012 and 201) Tj ET Q q 0 0 0 rg BT 182.78 474.10 Td (1, respectively) Tj ET Q q 0 0 0 rg BT 240.45 474.10 Td (. No contributions were made to the other postretirement plans in 2013, 2012 and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 462.10 Td (201) Tj ET Q q 0 0 0 rg BT 46.13 462.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 55.95 462.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 115.66 462.10 Td (s 2013, 2012 and 201) Tj ET Q q 0 0 0 rg BT 201.12 462.10 Td (1 required minimum funding contributions were immaterial. ) Tj ET Q q 0 0 0 rg BT 444.77 462.10 Td (The Company does not have a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 450.10 Td (2014 required minimum funding contribution for the U.S. qualified defined benefit pension plan and the funding requirements for all ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 438.10 Td (pension plans are expected to be immaterial. ) Tj ET Q q 0 0 0 rg BT 211.81 438.10 Td (The Company has not determined whether) Tj ET Q q 0 0 0 rg BT 381.64 438.10 Td (, and to what extent, contributions may be made ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 426.10 Td (to the U. S. qualified defined benefit pension plan in 2014. ) Tj ET Q q 0 0 0 rg BT 268.49 426.10 Td (The Company will monitor the funded status of the U.S. qualified defined ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 414.10 Td (benefit pension plan during 2014 to make this determination.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 396.10 Td (Dividends fr) Tj ET Q q 0 0 0 rg BT 80.85 396.10 Td (om Insurance Subsidiaries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 378.10 Td (Dividends to the HFSG Holding Company from its insurance subsidiaries are restricted by insurance regulation. ) Tj ET Q q 0 0 0 rg BT 482.34 378.10 Td (The payment of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 366.10 Td (dividends by Connecticut-domiciled insurers is limited under the insurance holding company laws of Connecticut. ) Tj ET Q q 0 0 0 rg BT 491.50 366.10 Td (These laws require ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 354.10 Td (notice to and approval by the state insurance commissioner for the declaration or payment of any dividend, which, together with other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 342.10 Td (dividends or distributions made within the preceding twelve months, exceeds the greater of \(i\)10% of the insurer) Tj ET Q q 0 0 0 rg BT 485.08 342.10 Td () Tj ET Q q 0 0 0 rg BT 487.86 342.10 Td (s policyholder surplus ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 330.10 Td (as of December31 of the preceding year or \(ii\)net income \(or net gain from operations, if such company is a life insurance company\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 318.10 Td (for the twelve-month period ending on the thirty-first day of December last preceding, in each case determined under statutory insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 306.10 Td (accounting principles. In addition, if any dividend of a Connecticut-domiciled insurer exceeds the insurer) Tj ET Q q 0 0 0 rg BT 453.13 306.10 Td () Tj ET Q q 0 0 0 rg BT 455.91 306.10 Td (s earned surplus, it requires the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 294.10 Td (prior approval of the Connecticut Insurance Commissioner) Tj ET Q q 0 0 0 rg BT 266.44 294.10 Td (. ) Tj ET Q q 0 0 0 rg BT 271.26 294.10 Td (The insurance holding company laws of the other jurisdictions in which ) Tj ET Q q 0 0 0 rg BT 560.74 294.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 282.10 Td (Hartford) Tj ET Q q 0 0 0 rg BT 68.71 282.10 Td (s insurance subsidiaries are incorporated \(or deemed commercially domiciled\) generally contain similar \(although in certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 270.10 Td (instances somewhat more restrictive\) limitations on the payment of dividends. Dividends paid to HFSG Holding Company by its life ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 258.10 Td (insurance subsidiaries are further dependent on cash requirements of HLI and other factors. In addition to statutory limitations on paying ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 246.10 Td (dividends, the Company also takes other items into consideration when determining dividends from subsidiaries. ) Tj ET Q q 0 0 0 rg BT 485.13 246.10 Td (These considerations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 234.10 Td (include, but are not limited to expected earnings and capitalization of the subsidiary) Tj ET Q q 0 0 0 rg BT 366.02 234.10 Td (, regulatory capital requirements and liquidity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 222.10 Td (requirements of the individual operating company) Tj ET Q q 0 0 0 rg BT 231.07 222.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 204.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 204.10 Td (s property-casualty insurance subsidiaries are permitted to pay up to a maximum of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.21 204.10 Td ($1.5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.32 204.10 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 192.10 Td (dividends to HFSG Holding Company in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.17 192.10 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 218.17 192.10 Td ( without prior approval from the applicable insurance commissioner) Tj ET Q q 0 0 0 rg BT 489.77 192.10 Td (. Before considering ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 180.10 Td (the transactions discussed below) Tj ET Q q 0 0 0 rg BT 161.10 180.10 Td (, the domestic life insurance subsidiaries' dividend limitation under the holding company laws of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 168.10 Td (Connecticut is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 91.49 168.10 Td ($560) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 111.49 168.10 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 124.27 168.10 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 144.27 168.10 Td (. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 162.60 168.10 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.60 168.10 Td (, HFSG Holding Company anticipates receiving approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.55 168.10 Td ($800) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.55 168.10 Td ( in dividends from its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 156.10 Td (property-casualty insurance subsidiaries, net of dividends to fund interest payments on an intercompany note between Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 144.10 Td (Holdings, Inc. and Hartford Fire Insurance Company and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.11 144.10 Td (no) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.11 144.10 Td ( ordinary dividends from the life insurance subsidiaries. During 2013, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 132.10 Td (Company initiated a plan to make HLA) Tj ET Q q 0 0 0 rg BT 189.24 132.10 Td ( the single nationwide underwriting company for its Group Benefits business by capitalizing it to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 120.10 Td (support the Group Benefits business and separating it from the legal entities supporting the ) Tj ET Q q 0 0 0 rg BT 397.36 120.10 Td (T) Tj ET Q q 0 0 0 rg BT 402.77 120.10 Td (alcott Resolution operating segment. On ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 108.10 Td (January 30, 2014, the Company received approval from the State of Connecticut Insurance Department \("CTDOI"\) to dividend ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 96.10 Td (approximately $800 of cash and invested assets from HLAI and HLIC to HLA) Tj ET Q q 0 0 0 rg BT 345.32 96.10 Td ( and then distribute those subsidiaries to Hartford Life Inc. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 84.10 Td (leaving HLA) Tj ET Q q 0 0 0 rg BT 83.43 84.10 Td ( and HLIC with no remaining ordinary dividend capacity for the twelve months following this transaction. ) Tj ET Q q 0 0 0 rg BT 513.34 84.10 Td (Any additional ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 72.10 Td (dividends from HLA) Tj ET Q q 0 0 0 rg BT 114.83 72.10 Td ( and HLIC in 2014 would be extraordinary in nature and require prior approval from the CTDOI. ) Tj ET Q q 0 0 0 rg BT 508.14 72.10 Td (The Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 60.10 Td (believes this initiative will allow for greater operational ef) Tj ET Q q 0 0 0 rg BT 264.01 60.10 Td (ficiencies and financial transparency to Group Benefits' customers. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 48.10 Td (addition, HFSG Holding Company is expecting to receive a dividend from HLIKK in the second half of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.30 48.10 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.30 48.10 Td (. ) Tj ET Q endstream endobj 247 0 obj <> endobj 248 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (123) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (On February 5, 2013 the Company received approval from the State of Connecticut Insurance Department for a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.24 713.10 Td ($1.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.35 713.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (extraordinary dividend from its Connecticut domiciled life insurance subsidiaries. ) Tj ET Q q 0 0 0 rg BT 361.23 701.10 Td (This dividend was paid on February 22, 2013. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 689.10 Td (, HFSG Holding Company received ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.09 689.10 Td ($950) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.09 689.10 Td ( in dividends from its property-casualty insurance subsidiaries. ) Tj ET Q q 0 0 0 rg BT 475.97 689.10 Td (The amounts received ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (from its property-casualty insurance subsidiaries included ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.32 677.10 Td ($150) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.32 677.10 Td ( related to funding interest payments on an intercompany note between ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (Hartford Holdings Inc. and Hartford Fire Insurance Company and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.54 665.10 Td ($800) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.54 665.10 Td ( used in conjunction with other resources at the HFSG Holding ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (Company) Tj ET Q q 0 0 0 rg BT 69.74 653.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (Other Sour) Tj ET Q q 0 0 0 rg BT 75.85 635.10 Td (ces of Capital for the HFSG Holding Company) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (The Hartford endeavors to maintain a capital structure that provides financial and operational flexibility to its insurance subsidiaries, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (ratings that support its competitive position in the financial services marketplace \(see the Ratings section below for further ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (discussion\), and shareholder returns. ) Tj ET Q q 0 0 0 rg BT 179.80 593.10 Td (As a result, the Company may from time to time raise capital from the issuance of equity) Tj ET Q q 0 0 0 rg BT 534.89 593.10 Td (, equity-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.10 Td (related debt or other capital securities and is continuously evaluating strategic opportunities. ) Tj ET Q q 0 0 0 rg BT 402.60 581.10 Td (The issuance of common equity) Tj ET Q q 0 0 0 rg BT 529.69 581.10 Td (, equity-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (related debt or other capital securities could result in the dilution of shareholder interests or reduced net income due to additional interest ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (expense.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 537.7669921875 m 107.8818359375 537.7669921875 l s q 0 0 0 rg BT 31.50 539.10 Td (Shelf ) Tj ET Q q 0 0 0 rg BT 55.11 539.10 Td (Registrations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (On ) Tj ET Q q 0 0 0 rg BT 45.67 521.10 Td (August9, 2013, ) Tj ET Q q 0 0 0 rg BT 111.88 521.10 Td (The Hartford filed with the Securities and Exchange Commission \(the SEC\) an automatic shelf registration ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (statement \(Registration No.333-190506\) for the potential of) Tj ET Q q 0 0 0 rg BT 272.93 509.10 Td (fering and sale of debt and equity securities. ) Tj ET Q q 0 0 0 rg BT 451.86 509.10 Td (The registration statement ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (allows for the following types of securities to be of) Tj ET Q q 0 0 0 rg BT 235.44 497.10 Td (fered: debt securities, junior subordinated debt securities, preferred stock, common ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (stock, depositary shares, warrants, stock purchase contracts, and stock purchase units. In that ) Tj ET Q q 0 0 0 rg BT 405.10 485.10 Td (The Hartford is a well-known seasoned ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (issuer) Tj ET Q q 0 0 0 rg BT 54.43 473.10 Td (, as defined in Rule 405 under the Securities ) Tj ET Q q 0 0 0 rg BT 233.28 473.10 Td (Act of 1933, the registration statement went ef) Tj ET Q q 0 0 0 rg BT 419.15 473.10 Td (fective immediately upon filing and ) Tj ET Q q 0 0 0 rg BT 564.76 473.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (Hartford may of) Tj ET Q q 0 0 0 rg BT 96.29 461.10 Td (fer and sell an unlimited amount of securities under the registration statement during the three-year life of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (registration statement. ) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 432.7669921875 m 140.376953125 432.7669921875 l s q 0 0 0 rg BT 31.50 434.10 Td (Contingent ) Tj ET Q q 0 0 0 rg BT 78.44 434.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 109.83 434.10 Td (Facility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 416.10 Td (The ) Tj ET Q q 0 0 0 rg BT 48.83 416.10 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 85.03 416.10 Td (is ) Tj ET Q q 0 0 0 rg BT 93.48 416.10 Td (party ) Tj ET Q q 0 0 0 rg BT 115.81 416.10 Td (to ) Tj ET Q q 0 0 0 rg BT 125.36 416.10 Td (a ) Tj ET Q q 0 0 0 rg BT 131.58 416.10 Td (put ) Tj ET Q q 0 0 0 rg BT 146.14 416.10 Td (option ) Tj ET Q q 0 0 0 rg BT 173.47 416.10 Td (agreement ) Tj ET Q q 0 0 0 rg BT 216.89 416.10 Td (that ) Tj ET Q q 0 0 0 rg BT 233.67 416.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 269.76 416.10 Td (The ) Tj ET Q q 0 0 0 rg BT 287.08 416.10 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 323.29 416.10 Td (with ) Tj ET Q q 0 0 0 rg BT 342.85 416.10 Td (the ) Tj ET Q q 0 0 0 rg BT 356.84 416.10 Td (right ) Tj ET Q q 0 0 0 rg BT 377.51 416.10 Td (to ) Tj ET Q q 0 0 0 rg BT 387.06 416.10 Td (require ) Tj ET Q q 0 0 0 rg BT 417.16 416.10 Td (the ) Tj ET Q q 0 0 0 rg BT 431.15 416.10 Td (Glen ) Tj ET Q q 0 0 0 rg BT 452.37 416.10 Td (Meadow ) Tj ET Q q 0 0 0 rg BT 488.75 416.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 510.96 416.10 Td (T) Tj ET Q q 0 0 0 rg BT 516.72 416.10 Td (rust, ) Tj ET Q q 0 0 0 rg BT 536.00 416.10 Td (a ) Tj ET Q q 0 0 0 rg BT 542.21 416.10 Td (Delaware ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 404.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 68.92 404.10 Td (trust, ) Tj ET Q q 0 0 0 rg BT 91.63 404.10 Td (at ) Tj ET Q q 0 0 0 rg BT 101.27 404.10 Td (any ) Tj ET Q q 0 0 0 rg BT 118.14 404.10 Td (time ) Tj ET Q q 0 0 0 rg BT 138.34 404.10 Td (and ) Tj ET Q q 0 0 0 rg BT 155.21 404.10 Td (from ) Tj ET Q q 0 0 0 rg BT 177.08 404.10 Td (time ) Tj ET Q q 0 0 0 rg BT 197.28 404.10 Td (to ) Tj ET Q q 0 0 0 rg BT 207.48 404.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 230.19 404.10 Td (to ) Tj ET Q q 0 0 0 rg BT 240.39 404.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 278.18 404.10 Td (The ) Tj ET Q q 0 0 0 rg BT 296.16 404.10 Td (Hartford) Tj ET Q q 0 0 0 rg BT 333.36 404.10 Td (s ) Tj ET Q q 0 0 0 rg BT 339.68 404.10 Td (junior ) Tj ET Q q 0 0 0 rg BT 366.00 404.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 420.08 404.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 443.62 404.10 Td (in ) Tj ET Q q 0 0 0 rg BT 453.83 404.10 Td (a ) Tj ET Q q 0 0 0 rg BT 460.69 404.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 503.67 404.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 544.96 404.10 Td (principal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 392.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 63.73 392.10 Td (not ) Tj ET Q q 0 0 0 rg BT 78.74 392.10 Td (to ) Tj ET Q q 0 0 0 rg BT 88.75 392.10 Td (exceed ) Tj ET Q q 0 0 0 rg BT 118.74 392.10 Td ($500. ) Tj ET Q q 0 0 0 rg BT 143.47 392.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 170.69 392.10 Td (the ) Tj ET Q q 0 0 0 rg BT 185.14 392.10 Td (Put ) Tj ET Q q 0 0 0 rg BT 200.72 392.10 Td (Option ) Tj ET Q q 0 0 0 rg BT 230.23 392.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 279.23 392.10 Td (The ) Tj ET Q q 0 0 0 rg BT 297.01 392.10 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 333.67 392.10 Td (will ) Tj ET Q q 0 0 0 rg BT 351.46 392.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 368.13 392.10 Td (the ) Tj ET Q q 0 0 0 rg BT 382.58 392.10 Td (Glen ) Tj ET Q q 0 0 0 rg BT 404.25 392.10 Td (Meadow ) Tj ET Q q 0 0 0 rg BT 440.98 392.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 463.62 392.10 Td (T) Tj ET Q q 0 0 0 rg BT 469.37 392.10 Td (rust ) Tj ET Q q 0 0 0 rg BT 486.60 392.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 528.83 392.10 Td (on ) Tj ET Q q 0 0 0 rg BT 541.07 392.10 Td (a ) Tj ET Q q 0 0 0 rg BT 547.74 392.10 Td (periodic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 380.10 Td (basis, ) Tj ET Q q 0 0 0 rg BT 56.64 380.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 99.81 380.10 Td (with ) Tj ET Q q 0 0 0 rg BT 120.23 380.10 Td (respect ) Tj ET Q q 0 0 0 rg BT 151.19 380.10 Td (to ) Tj ET Q q 0 0 0 rg BT 161.61 380.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.47 380.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 217.98 380.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 256.17 380.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 288.80 380.10 Td (of ) Tj ET Q q 0 0 0 rg BT 299.78 380.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 323.53 380.10 Td (that ) Tj ET Q q 0 0 0 rg BT 340.97 380.10 Td (The ) Tj ET Q q 0 0 0 rg BT 359.16 380.10 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 396.24 380.10 Td (had ) Tj ET Q q 0 0 0 rg BT 413.32 380.10 Td (the ) Tj ET Q q 0 0 0 rg BT 428.18 380.10 Td (right ) Tj ET Q q 0 0 0 rg BT 449.71 380.10 Td (to ) Tj ET Q q 0 0 0 rg BT 460.13 380.10 Td (put ) Tj ET Q q 0 0 0 rg BT 475.55 380.10 Td (to ) Tj ET Q q 0 0 0 rg BT 485.97 380.10 Td (the ) Tj ET Q q 0 0 0 rg BT 500.83 380.10 Td (Glen ) Tj ET Q q 0 0 0 rg BT 522.91 380.10 Td (Meadow ) Tj ET Q q 0 0 0 rg BT 559.96 380.10 Td (ABC ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 368.10 Td (T) Tj ET Q q 0 0 0 rg BT 37.26 368.10 Td (rust ) Tj ET Q q 0 0 0 rg BT 55.52 368.10 Td (for ) Tj ET Q q 0 0 0 rg BT 70.45 368.10 Td (such ) Tj ET Q q 0 0 0 rg BT 92.04 368.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 123.11 368.10 Td (The ) Tj ET Q q 0 0 0 rg BT 141.93 368.10 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 179.62 368.10 Td (has ) Tj ET Q q 0 0 0 rg BT 196.21 368.10 Td (agreed ) Tj ET Q q 0 0 0 rg BT 226.12 368.10 Td (to ) Tj ET Q q 0 0 0 rg BT 237.17 368.10 Td (reimburse ) Tj ET Q q 0 0 0 rg BT 280.41 368.10 Td (the ) Tj ET Q q 0 0 0 rg BT 295.90 368.10 Td (Glen ) Tj ET Q q 0 0 0 rg BT 318.60 368.10 Td (Meadow ) Tj ET Q q 0 0 0 rg BT 356.13 368.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 379.72 368.10 Td (T) Tj ET Q q 0 0 0 rg BT 385.48 368.10 Td (rust ) Tj ET Q q 0 0 0 rg BT 403.74 368.10 Td (for ) Tj ET Q q 0 0 0 rg BT 418.67 368.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 449.13 368.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 468.50 368.10 Td (and ) Tj ET Q q 0 0 0 rg BT 486.20 368.10 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 523.34 368.10 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 564.97 368.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 356.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 73.57 356.10 Td (holds ) Tj ET Q q 0 0 0 rg BT 98.43 356.10 Td (a ) Tj ET Q q 0 0 0 rg BT 106.06 356.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 141.45 356.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 174.07 356.10 Td (in ) Tj ET Q q 0 0 0 rg BT 185.03 356.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.44 356.10 Td (Glen ) Tj ET Q q 0 0 0 rg BT 223.06 356.10 Td (Meadow ) Tj ET Q q 0 0 0 rg BT 260.54 356.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 284.06 356.10 Td (T) Tj ET Q q 0 0 0 rg BT 289.81 356.10 Td (rust ) Tj ET Q q 0 0 0 rg BT 308.00 356.10 Td (where ) Tj ET Q q 0 0 0 rg BT 335.62 356.10 Td (the ) Tj ET Q q 0 0 0 rg BT 351.02 356.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 393.10 356.10 Td (is ) Tj ET Q q 0 0 0 rg BT 402.95 356.10 Td (not ) Tj ET Q q 0 0 0 rg BT 418.92 356.10 Td (the ) Tj ET Q q 0 0 0 rg BT 434.32 356.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 469.17 356.10 Td (beneficiary) Tj ET Q q 0 0 0 rg BT 513.49 356.10 Td (. ) Tj ET Q q 0 0 0 rg BT 518.47 356.10 Td (As ) Tj ET Q q 0 0 0 rg BT 532.77 356.10 Td (a ) Tj ET Q q 0 0 0 rg BT 540.40 356.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 568.30 356.10 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 344.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 72.94 344.10 Td (did ) Tj ET Q q 0 0 0 rg BT 88.28 344.10 Td (not ) Tj ET Q q 0 0 0 rg BT 103.62 344.10 Td (consolidate ) Tj ET Q q 0 0 0 rg BT 151.72 344.10 Td (the ) Tj ET Q q 0 0 0 rg BT 166.49 344.10 Td (Glen ) Tj ET Q q 0 0 0 rg BT 188.49 344.10 Td (Meadow ) Tj ET Q q 0 0 0 rg BT 225.47 344.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 248.40 344.10 Td (T) Tj ET Q q 0 0 0 rg BT 254.16 344.10 Td (rust. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.65 344.10 Td (As ) Tj ET Q q 0 0 0 rg BT 287.32 344.10 Td (of ) Tj ET Q q 0 0 0 rg BT 298.21 344.10 Td (December ) Tj ET Q q 0 0 0 rg BT 341.85 344.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 356.91 344.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.91 344.10 Td (, ) Tj ET Q q 0 0 0 rg BT 381.78 344.10 Td (The ) Tj ET Q q 0 0 0 rg BT 399.89 344.10 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 436.88 344.10 Td (has ) Tj ET Q q 0 0 0 rg BT 452.76 344.10 Td (not ) Tj ET Q q 0 0 0 rg BT 468.10 344.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 508.41 344.10 Td (its ) Tj ET Q q 0 0 0 rg BT 520.42 344.10 Td (right ) Tj ET Q q 0 0 0 rg BT 541.86 344.10 Td (to ) Tj ET Q q 0 0 0 rg BT 552.20 344.10 Td (require ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 332.10 Td (Glen ) Tj ET Q q 0 0 0 rg BT 53.44 332.10 Td (Meadow ) Tj ET Q q 0 0 0 rg BT 90.38 332.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 113.26 332.10 Td (T) Tj ET Q q 0 0 0 rg BT 119.01 332.10 Td (rust ) Tj ET Q q 0 0 0 rg BT 136.51 332.10 Td (to ) Tj ET Q q 0 0 0 rg BT 146.79 332.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 184.83 332.10 Td (the ) Tj ET Q q 0 0 0 rg BT 199.55 332.10 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 227.33 332.10 Td (As ) Tj ET Q q 0 0 0 rg BT 240.94 332.10 Td (a ) Tj ET Q q 0 0 0 rg BT 247.88 332.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 275.09 332.10 Td (the ) Tj ET Q q 0 0 0 rg BT 289.81 332.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 313.42 332.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 343.68 332.10 Td (a ) Tj ET Q q 0 0 0 rg BT 350.62 332.10 Td (source ) Tj ET Q q 0 0 0 rg BT 379.22 332.10 Td (of ) Tj ET Q q 0 0 0 rg BT 390.05 332.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 419.20 332.10 Td (for ) Tj ET Q q 0 0 0 rg BT 433.36 332.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.08 332.10 Td (HFSG ) Tj ET Q q 0 0 0 rg BT 476.14 332.10 Td (Holding ) Tj ET Q q 0 0 0 rg BT 511.42 332.10 Td (Company) Tj ET Q q 0 0 0 rg BT 549.66 332.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 312.7669921875 m 227.84765625 312.7669921875 l s q 0 0 0 rg BT 31.50 314.10 Td (Commercial ) Tj ET Q q 0 0 0 rg BT 83.43 314.10 Td (Paper ) Tj ET Q q 0 0 0 rg BT 108.70 314.10 Td (and ) Tj ET Q q 0 0 0 rg BT 125.64 314.10 Td (Revolving ) Tj ET Q q 0 0 0 rg BT 169.80 314.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 197.30 314.10 Td (Facility) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 296.10 Td (Commer) Tj ET Q q 0 0 0 rg BT 65.57 296.10 Td (cial Paper) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 278.10 Td (While ) Tj ET Q q 0 0 0 rg BT 58.25 278.10 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 113.51 278.10 Td (s maximum borrowings available under its commercial paper program are $2.0 billion, the Company is dependent ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 266.10 Td (upon market conditions to access short-term financing through the issuance of commercial paper to investors. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.43 266.10 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.46 266.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 254.10 Td (there is no commercial paper outstanding.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 236.10 Td (Revolving Cr) Tj ET Q q 0 0 0 rg BT 84.17 236.10 Td (edit Facilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 218.10 Td (The Company has a senior unsecured revolving credit facility \(the Credit Facility\) that provides for borrowing capacity up to $1.75 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 206.10 Td (billion \(which is available in U.S. dollars, and in Euro, Sterling, Canadian dollars and Japanese ) Tj ET Q q 0 0 0 rg BT 413.82 206.10 Td (Y) Tj ET Q q 0 0 0 rg BT 420.04 206.10 Td (en\) through January6, 2016. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.97 206.10 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 194.10 Td (December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 194.10 Td ( there were no borrowings outstanding under the Credit Facility) Tj ET Q q 0 0 0 rg BT 364.10 194.10 Td (. Of the total availability under the Credit Facility) Tj ET Q q 0 0 0 rg BT 562.01 194.10 Td (, up ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 182.10 Td (to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.78 182.10 Td ($250) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.78 182.10 Td ( is available to support letters of credit issued on behalf of the Company or subsidiaries of the Company) Tj ET Q q 0 0 0 rg BT 476.59 182.10 Td (. Under the Credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 170.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 61.40 170.10 Td (, the Company must maintain a minimum level of consolidated net worth of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.46 170.10 Td ($14.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.96 170.10 Td ( billion. ) Tj ET Q q 0 0 0 rg BT 423.39 170.10 Td (The definition of consolidated net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 158.10 Td (worth under the terms of the Credit Facility) Tj ET Q q 0 0 0 rg BT 204.98 158.10 Td (, excludes ) Tj ET Q q 0 0 0 rg BT 246.91 158.10 Td (AOCI and includes the Company) Tj ET Q q 0 0 0 rg BT 383.00 158.10 Td (s outstanding junior subordinated debentures ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 146.10 Td (perpetual preferred securities, net of discount. In addition, the Company) Tj ET Q q 0 0 0 rg BT 322.52 146.10 Td (s maximum ratio of consolidated total debt to consolidated total ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 134.10 Td (capitalization is limited to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 138.14 134.10 Td (35%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.47 134.10 Td (, and the ratio of consolidated total debt of subsidiaries to consolidated total capitalization is limited to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 122.10 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.83 122.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.28 122.10 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 157.31 122.10 Td (, the Company was in compliance with all financial covenants under the Credit Facility) Tj ET Q q 0 0 0 rg BT 505.45 122.10 Td (.) Tj ET Q endstream endobj 249 0 obj <> endobj 250 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (124) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (HLIKK has four revolving credit facilities in support of operations. ) Tj ET Q q 0 0 0 rg BT 303.19 713.10 Td (T) Tj ET Q q 0 0 0 rg BT 308.60 713.10 Td (wo of the credit facilities have no amounts drawn as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 701.10 Td ( with borrowing limits of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.39 701.10 Td (5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 312.01 701.10 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.84 701.10 Td ($48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.84 701.10 Td ( each, and individually have expiration dates of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.72 701.10 Td (January5, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 689.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.94 689.10 Td (September30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.20 689.10 Td (. In December 2013, HLIKK entered into two new revolving credit facility agreements with two Japanese ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (banks in order to finance certain withholding taxes on mutual fund gains, that are subsequently credited when HLIKK files its) Tj ET Q q 0 0 0 rg BT 537.84 677.10 Td ( income ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (tax returns. ) Tj ET Q q 0 0 0 rg BT 80.93 665.10 Td (At December 31, 2013, HLIKK had drawn the total borrowing limits of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.81 665.10 Td (5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.43 665.10 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.26 665.10 Td ($48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.26 665.10 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.20 665.10 Td (20 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.81 665.10 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.64 665.10 Td ($190) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.64 665.10 Td ( on these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (credit facilities. ) Tj ET Q q 0 0 0 rg BT 98.51 653.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 116.56 653.10 Td (5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 155.17 653.10 Td ( credit facility accrues interest at a variable rate based on the one month ) Tj ET Q q 0 0 0 rg BT 444.31 653.10 Td (T) Tj ET Q q 0 0 0 rg BT 449.72 653.10 Td (okyo Interbank Of) Tj ET Q q 0 0 0 rg BT 523.40 653.10 Td (fering Rate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (\(TIBOR\) plus 3 bps, which as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.82 641.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.40 641.10 Td ( the interest rate was 15 bps, and the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.14 641.10 Td (20 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.75 641.10 Td ( credit facility accrues interest at a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (variable rate based on ) Tj ET Q q 0 0 0 rg BT 121.28 629.10 Td (TIBOR plus 3 bps, or the actual cost of funding, which as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.40 629.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.99 629.10 Td ( the interest rate was 20 bps. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (Both of the credit facilities expire on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.17 617.10 Td (September 30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 261.44 617.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (Derivative Commitments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.10 Td (Certain of the Company) Tj ET Q q 0 0 0 rg BT 130.65 581.10 Td (s derivative agreements contain provisions that are tied to the financial strength ratings of the individual legal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (entity that entered into the derivative agreement as set by nationally recognized statistical rating agencies. If the legal entity) Tj ET Q q 0 0 0 rg BT 528.26 569.10 Td (s financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (strength were to fall below certain ratings, the counterparties to the derivative agreements could demand immediate and ongoing full ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (collateralization and in certain instances demand immediate settlement of all outstanding derivative positions traded under each ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (impacted bilateral agreement. ) Tj ET Q q 0 0 0 rg BT 152.37 533.10 Td (The settlement amount is determined by netting the derivative positions transacted under each agreement. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (If the termination rights were to be exercised by the counterparties, it could impact the legal entity) Tj ET Q q 0 0 0 rg BT 427.20 521.10 Td (s ability to conduct hedging activities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (by increasing the associated costs and decreasing the willingness of counterparties to transact with the legal entity) Tj ET Q q 0 0 0 rg BT 486.27 509.10 Td (. ) Tj ET Q q 0 0 0 rg BT 491.08 509.10 Td (The aggregate fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (value of all derivative instruments with credit-risk-related contingent features that are in a net liability position as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.02 497.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.60 497.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.55 485.10 Td ($1.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.67 485.10 Td (. Of this ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.67 485.10 Td ($1.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.78 485.10 Td ( the legal entities have posted collateral of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.82 485.10 Td ($1.4 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.94 485.10 Td ( in the normal course of business. In addition, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (the Company has posted collateral of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.57 473.10 Td ($44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 197.57 473.10 Td ( associated with a customized GMWB derivative. Based on derivative market values as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (December 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.08 461.10 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.58 461.10 Td (, a downgrade of one level below the current financial strength ratings by either Moody) Tj ET Q q 0 0 0 rg BT 464.97 461.10 Td (s or S&P) Tj ET Q q 0 0 0 rg BT 500.72 461.10 Td ( could require ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (approximately an additional ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 146.19 449.10 Td ($12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.19 449.10 Td ( to be posted as collateral. Based on derivative market values as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.43 449.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.01 449.10 Td (, a downgrade by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (either Moody) Tj ET Q q 0 0 0 rg BT 88.43 437.10 Td (s or S&P) Tj ET Q q 0 0 0 rg BT 124.19 437.10 Td ( of two levels below the legal entities) Tj ET Q q 0 0 0 rg BT 275.90 437.10 Td ( current financial strength ratings could require approximately an additional ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td ($33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 425.10 Td ( of assets to be posted as collateral. ) Tj ET Q q 0 0 0 rg BT 189.33 425.10 Td (These collateral amounts could change as derivative market values change, as a result of changes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (in our hedging activities or to the extent changes in contractual terms are negotiated. ) Tj ET Q q 0 0 0 rg BT 371.48 413.10 Td (The nature of the collateral that we would post, if ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (required, would be primarily in the form of U.S. ) Tj ET Q q 0 0 0 rg BT 226.83 401.10 Td (T) Tj ET Q q 0 0 0 rg BT 232.59 401.10 Td (reasury bills, U.S. ) Tj ET Q q 0 0 0 rg BT 306.85 401.10 Td (T) Tj ET Q q 0 0 0 rg BT 312.60 401.10 Td (reasury notes and government agency securities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (As of December 31, 2013, the aggregate notional amount and fair value of derivative relationships that could be subject to immediate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (termination in the event of rating agency downgrades toeither BBB+ or Baa1 was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.16 371.10 Td (536) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.16 371.10 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.60 371.10 Td (\(17\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.26 371.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 476.92 371.10 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (Insurance Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.10 Td (Current and expected patterns of claim frequency and severity or surrenders may change from period to period but continue to be within ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.10 Td (historical norms and, therefore, the Company) Tj ET Q q 0 0 0 rg BT 215.62 323.10 Td (s insurance operations) Tj ET Q q 0 0 0 rg BT 307.07 323.10 Td ( current liquidity position is considered to be suf) Tj ET Q q 0 0 0 rg BT 500.74 323.10 Td (ficient to meet ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (anticipated demands over the next twelve months, including any obligations related to the Company) Tj ET Q q 0 0 0 rg BT 434.74 311.10 Td (s restructuring activities. For a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.10 Td (discussion and tabular presentation of the Company) Tj ET Q q 0 0 0 rg BT 241.46 299.10 Td (s current contractual obligations by period, refer to Of) Tj ET Q q 0 0 0 rg BT 457.59 299.10 Td (f-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 523.12 299.10 Td (Arrangements ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.10 Td (and ) Tj ET Q q 0 0 0 rg BT 47.89 287.10 Td (Aggregate Contractual Obligations within the Capital Resources and Liquidity section of the MD&A.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.10 Td (The principal sources of operating funds are premiums, fees earned from assets under management and investment income, while ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.10 Td (investing cash flows originate from maturities and sales of invested assets. ) Tj ET Q q 0 0 0 rg BT 331.81 257.10 Td (The primary uses of funds are to pay claims, claim ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.10 Td (adjustment expenses, commissions and other underwriting expenses, to purchase new investments and to make dividend payments to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.10 Td (HFSG Holding Company) Tj ET Q q 0 0 0 rg BT 133.08 233.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 215.10 Td (s insurance operations consist of property and casualty insurance products \(collectively referred to as Property & ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.10 Td (Casualty Operations\) and life insurance and legacy annuity products \(collectively referred to as Life Operations\).) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 185.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 41.13 185.10 Td (operty & Casualty Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.10 Td (Property & Casualty Operations holds fixed maturity securities including a significant short-term investment position \(securities with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.10 Td (maturities of one year or less at the time of purchase\) to meet liquidity needs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.10 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 137.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 137.10 Td (, Property & Casualty Operations) Tj ET Q q 0 0 0 rg BT 270.70 137.10 Td ( fixed maturities, short-term investments, and cash are summarized as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.10 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 114.60 487.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 114.60 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 90.60 487.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 90.60 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 66.60 487.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 66.60 62.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 114.60000000000002 m 519 114.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 114.60000000000002 m 581 114.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 66.60000000000002 m 519 66.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 54.60000000000002 m 519 54.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 519 66.60000000000002 m 581 66.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 54.60000000000002 m 581 54.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 105.22 Td (Fixed maturities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.50 105.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 105.22 Td (24,704) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 93.22 Td (Short-term investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 93.22 Td (984) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 81.22 Td (Cash) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 81.22 Td (189) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 69.22 Td (Less: Derivative collateral) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 69.22 Td (241) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 57.33 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.50 57.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.65 57.33 Td (25,636) Tj ET Q BT /F2 10.00 Tf ET endstream endobj 251 0 obj <> endobj 252 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (125) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Liquidity requirements that are unable to be funded by Property & Casualty Operation) Tj ET Q q 0 0 0 rg BT 379.74 713.10 Td (s short-term investments would be satisfied with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (current operating funds, including premiums received or through the sale of invested assets. ) Tj ET Q q 0 0 0 rg BT 400.57 701.10 Td (A) Tj ET Q q 0 0 0 rg BT 407.24 701.10 Td ( sale of invested assets could result in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (realized losses.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (Life Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (Life Operations) Tj ET Q q 0 0 0 rg BT 97.12 653.10 Td ( total general account contractholder obligations are supported by $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.75 653.10 Td (49 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.36 653.10 Td ( of cash and total general account invested ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (assets, excluding equity securities, trading, which includes a significant short-term investment position to meet liquidity needs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 623.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 623.10 Td (, Life Operations) Tj ET Q q 0 0 0 rg BT 205.15 623.10 Td ( fixed maturities, short-term investments, and cash are summarized as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 612.60 487.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 612.60 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 588.60 487.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 588.60 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 564.60 487.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 564.60 62.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 612.6 m 519 612.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 612.6 m 581 612.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 552.6 m 519 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 540.6 m 519 540.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 519 552.6 m 581 552.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 540.6 m 581 540.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 603.22 Td (Fixed maturities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.50 603.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 603.22 Td (37,432) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 591.22 Td (Short-term investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 591.22 Td (2,211) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 579.22 Td (Cash) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 579.22 Td (1,237) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 567.22 Td (Less: Derivative collateral) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 567.22 Td (1,251) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 555.22 Td (Less: Cash associated with Japan variable annuities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 555.22 Td (281) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 543.33 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.50 543.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.65 543.33 Td (39,348) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 526.10 Td (Capital resources available to fund liquidity) Tj ET Q q 0 0 0 rg BT 206.08 526.10 Td (, upon contractholder surrender) Tj ET Q q 0 0 0 rg BT 331.19 526.10 Td (, are a function of the legal entity in which the liquidity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 514.10 Td (requirement resides. Generally) Tj ET Q q 0 0 0 rg BT 153.85 514.10 Td (, obligations of Group Benefits will be funded by Hartford Life and ) Tj ET Q q 0 0 0 rg BT 425.74 514.10 Td (Accident Insurance Company) Tj ET Q q 0 0 0 rg BT 543.94 514.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 502.10 Td (Obligations of ) Tj ET Q q 0 0 0 rg BT 91.31 502.10 Td (T) Tj ET Q q 0 0 0 rg BT 96.72 502.10 Td (alcott Resolution will generally be funded by Hartford Life Insurance Company and Hartford Life and ) Tj ET Q q 0 0 0 rg BT 507.98 502.10 Td (Annuity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 490.10 Td (Insurance Company) Tj ET Q q 0 0 0 rg BT 111.10 490.10 Td (, while obligations of the Company) Tj ET Q q 0 0 0 rg BT 254.98 490.10 Td (s international annuity subsidiaries will generally be funded by Hartford Life ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 478.10 Td (Insurance KK. Contractholder obligations of the former Retirement Plans business were funded by Hartford Life Insurance Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 466.10 Td (and of the former Individual Life business were funded by both Hartford Life Insurance Company and Hartford Life and ) Tj ET Q q 0 0 0 rg BT 516.07 466.10 Td (Annuity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 454.10 Td (Insurance Company) Tj ET Q q 0 0 0 rg BT 111.10 454.10 Td (. See Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.98 454.10 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 159.98 454.10 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 170.81 454.10 Td (Business Dispositions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.88 454.10 Td ( of Notes to the Consolidated Financial Statements as to the sale of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 442.10 Td (Retirement Plans and Individual Life businesses and related transfer of invested assets in January 2013. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 424.10 Td (Hartford Life Insurance Company \(HLIC\), an indirect wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 359.08 424.10 Td (, became a member of the Federal Home Loan Bank of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 412.10 Td (Boston \(FHLBB\) in May201) Tj ET Q q 0 0 0 rg BT 158.35 412.10 Td (1. Membership allows HLIC access to collateralized advances, which may be used to support various ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 400.10 Td (spread-based business and enhance liquidity management. [The Connecticut Department of Insurance \(CTDOI\) will permit HLIC to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 388.10 Td (pledge up to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 83.43 388.10 Td ($1.25 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.55 388.10 Td ( in qualifying assets to secure FHLBB advances for 2014]. ) Tj ET Q q 0 0 0 rg BT 371.26 388.10 Td (The amount of advances that can be taken are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 376.10 Td (dependent on the asset types pledged to secure the advances. ) Tj ET Q q 0 0 0 rg BT 276.51 376.10 Td (The pledge limit is recalculated annually based on statutory admitted assets ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 364.10 Td (and capital and surplus. HLIC would need to seek the prior approval of the CTDOI if there were a desire to exceed these limits. ) Tj ET Q q 0 0 0 rg BT 543.56 364.10 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 352.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 352.10 Td (, HLIC had no advances outstanding under the FHLBB facility) Tj ET Q q 0 0 0 rg BT 361.05 352.10 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 313.60 446.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 313.60 88.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 285.60 446.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 285.60 88.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 258.60 446.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 258.60 88.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 222.60 446.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 222.60 88.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 194.60 446.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 194.60 88.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 166.60 446.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 166.60 88.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 313.6 m 478 313.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 313.6 m 566 313.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 271.6 m 478 271.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 258.6 m 478 258.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478 271.6 m 566 271.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 258.6 m 566 258.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 236.60000000000002 m 478 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 236.60000000000002 m 566 236.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 166.60000000000002 m 478 166.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 153.60000000000002 m 478 153.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478 166.60000000000002 m 566 166.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 153.60000000000002 m 566 153.60000000000002 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 332.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 511.60 332.05 Td (As of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 318.05 Td (Contractholder Obligations) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.20 318.05 Td (December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 304.17 Td (Total Life contractholder obligations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.50 304.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.65 304.17 Td (219,402) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 290.17 Td (Less: Separate account assets [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.65 290.17 Td (140,886) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 276.17 Td (Less: International statutory separate accounts [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.65 276.17 Td (19,734) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 262.33 Td (General account contractholder obligations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.50 262.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 534.65 262.33 Td (58,782) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 241.28 Td (Composition of General Account Contractholder Obligations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.50 241.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 227.17 Td (Contracts without a surrender provision and/or fixed payout dates [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.50 227.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.65 227.17 Td (24,625) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 213.17 Td (U.S. Fixed MVA annuities and Other [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.65 213.17 Td (10,142) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 199.17 Td (International Fixed MVA annuities [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.65 199.17 Td (1,514) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 185.17 Td (Guaranteed investment contracts \(GIC\) [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.15 185.17 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 171.17 Td (Other [5]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.65 171.17 Td (22,470) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 157.33 Td (General account contractholder obligations) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.50 157.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 534.65 157.33 Td (58,782) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 143.30 Td ([1] ) Tj ET Q q 0 0 0 rg BT 67.50 143.30 Td (In the event customers elect to surr) Tj ET Q q 0 0 0 rg BT 193.63 143.30 Td (ender separate account assets or international statutory separate accounts, Life Operations will use the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 132.50 Td (pr) Tj ET Q q 0 0 0 rg BT 75.17 132.50 Td (oceeds fr) Tj ET Q q 0 0 0 rg BT 107.57 132.50 Td (om the sale of the assets to fund the surr) Tj ET Q q 0 0 0 rg BT 252.48 132.50 Td (ender) Tj ET Q q 0 0 0 rg BT 271.98 132.50 Td (, and Life Operations) Tj ET Q q 0 0 0 rg BT 350.98 132.50 Td ( liquidity position will not be impacted. In many instances Life ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 121.70 Td (Operations will r) Tj ET Q q 0 0 0 rg BT 129.17 121.70 Td (eceive a per) Tj ET Q q 0 0 0 rg BT 172.31 121.70 Td (centage of the surr) Tj ET Q q 0 0 0 rg BT 239.71 121.70 Td (ender amount as compensation for early surr) Tj ET Q q 0 0 0 rg BT 402.37 121.70 Td (ender \(surr) Tj ET Q q 0 0 0 rg BT 442.78 121.70 Td (ender char) Tj ET Q q 0 0 0 rg BT 481.68 121.70 Td (ge\), incr) Tj ET Q q 0 0 0 rg BT 511.84 121.70 Td (easing Life ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 110.90 Td (Operations) Tj ET Q q 0 0 0 rg BT 110.00 110.90 Td ( liquidity position. In addition, a surr) Tj ET Q q 0 0 0 rg BT 243.67 110.90 Td (ender of variable annuity separate account or general account assets \(see below\) will ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 100.10 Td (decr) Tj ET Q q 0 0 0 rg BT 83.16 100.10 Td (ease Life Operations) Tj ET Q q 0 0 0 rg BT 160.15 100.10 Td ( obligation for payments on guaranteed living and death benefits.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 89.30 Td ([2] ) Tj ET Q q 0 0 0 rg BT 67.50 89.30 Td (Relates to contracts such as payout annuities or institutional notes, other than guaranteed investment pr) Tj ET Q q 0 0 0 rg BT 442.88 89.30 Td (oducts with an MV) Tj ET Q q 0 0 0 rg BT 509.96 89.30 Td (A) Tj ET Q q 0 0 0 rg BT 515.29 89.30 Td ( featur) Tj ET Q q 0 0 0 rg BT 538.71 89.30 Td (e ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 78.50 Td (\(discussed below\) or surr) Tj ET Q q 0 0 0 rg BT 158.92 78.50 Td (enders of term life, gr) Tj ET Q q 0 0 0 rg BT 236.82 78.50 Td (oup benefit contracts or death and living benefit r) Tj ET Q q 0 0 0 rg BT 415.96 78.50 Td (eserves for which surr) Tj ET Q q 0 0 0 rg BT 495.87 78.50 Td (enders will have no ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 67.70 Td (curr) Tj ET Q q 0 0 0 rg BT 82.67 67.70 Td (ent effect on Life Operations) Tj ET Q q 0 0 0 rg BT 187.65 67.70 Td ( liquidity r) Tj ET Q q 0 0 0 rg BT 225.31 67.70 Td (equir) Tj ET Q q 0 0 0 rg BT 243.98 67.70 Td (ements.) Tj ET Q endstream endobj 253 0 obj <> endobj 254 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (126) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 713.80 Td ([3] ) Tj ET Q q 0 0 0 rg BT 67.50 713.80 Td (Relates to annuities that ar) Tj ET Q q 0 0 0 rg BT 164.66 713.80 Td (e r) Tj ET Q q 0 0 0 rg BT 174.07 713.80 Td (ecor) Tj ET Q q 0 0 0 rg BT 189.73 713.80 Td (ded in the general account \(under U.S. GAAP\), although these annuities ar) Tj ET Q q 0 0 0 rg BT 460.34 713.80 Td (e held in a statutory separate ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 703.00 Td (account, as the contractholders ar) Tj ET Q q 0 0 0 rg BT 190.90 703.00 Td (e subject to the Company's cr) Tj ET Q q 0 0 0 rg BT 296.72 703.00 Td (edit risk. In the statutory separate account, Life Operations is r) Tj ET Q q 0 0 0 rg BT 524.36 703.00 Td (equir) Tj ET Q q 0 0 0 rg BT 543.03 703.00 Td (ed to ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 692.20 Td (maintain invested assets with a fair value equal to the MV) Tj ET Q q 0 0 0 rg BT 275.81 692.20 Td (A) Tj ET Q q 0 0 0 rg BT 281.14 692.20 Td ( surr) Tj ET Q q 0 0 0 rg BT 298.06 692.20 Td (ender value of the Fixed MV) Tj ET Q q 0 0 0 rg BT 400.10 692.20 Td (A) Tj ET Q q 0 0 0 rg BT 405.44 692.20 Td ( contract. In the event assets decline in value at ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 681.40 Td (a gr) Tj ET Q q 0 0 0 rg BT 81.92 681.40 Td (eater rate than the MV) Tj ET Q q 0 0 0 rg BT 163.23 681.40 Td (A) Tj ET Q q 0 0 0 rg BT 168.57 681.40 Td ( surr) Tj ET Q q 0 0 0 rg BT 185.49 681.40 Td (ender value of the Fixed MV) Tj ET Q q 0 0 0 rg BT 287.53 681.40 Td (A) Tj ET Q q 0 0 0 rg BT 292.86 681.40 Td ( contract, Life Operations is r) Tj ET Q q 0 0 0 rg BT 400.03 681.40 Td (equir) Tj ET Q q 0 0 0 rg BT 418.69 681.40 Td (ed to contribute additional capital to the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 670.60 Td (statutory separate account. Life Operations will fund these r) Tj ET Q q 0 0 0 rg BT 284.90 670.60 Td (equir) Tj ET Q q 0 0 0 rg BT 303.57 670.60 Td (ed contributions with operating cash flows or short-term investments. In the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 659.80 Td (event that operating cash flows or short-term investments ar) Tj ET Q q 0 0 0 rg BT 284.65 659.80 Td (e not sufficient to fund r) Tj ET Q q 0 0 0 rg BT 370.56 659.80 Td (equir) Tj ET Q q 0 0 0 rg BT 389.22 659.80 Td (ed contributions, the Company may have to sell ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 649.00 Td (other invested assets at a loss, potentially r) Tj ET Q q 0 0 0 rg BT 222.65 649.00 Td (esulting in a decr) Tj ET Q q 0 0 0 rg BT 285.06 649.00 Td (ease in statutory surplus. ) Tj ET Q q 0 0 0 rg BT 377.65 649.00 Td (As the fair value of invested assets in the statutory ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 638.20 Td (separate account ar) Tj ET Q q 0 0 0 rg BT 139.15 638.20 Td (e generally equal to the MV) Tj ET Q q 0 0 0 rg BT 238.70 638.20 Td (A) Tj ET Q q 0 0 0 rg BT 244.04 638.20 Td ( surr) Tj ET Q q 0 0 0 rg BT 260.96 638.20 Td (ender value of the Fixed MV) Tj ET Q q 0 0 0 rg BT 363.00 638.20 Td (A) Tj ET Q q 0 0 0 rg BT 368.34 638.20 Td ( contract, surr) Tj ET Q q 0 0 0 rg BT 419.75 638.20 Td (ender of Fixed MV) Tj ET Q q 0 0 0 rg BT 486.81 638.20 Td (A) Tj ET Q q 0 0 0 rg BT 492.14 638.20 Td ( annuities will have an ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 627.40 Td (insignificant impact on the liquidity r) Tj ET Q q 0 0 0 rg BT 201.41 627.40 Td (equir) Tj ET Q q 0 0 0 rg BT 220.07 627.40 Td (ements of Life Operations.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 616.60 Td ([4] ) Tj ET Q q 0 0 0 rg BT 67.50 616.60 Td (GICs ar) Tj ET Q q 0 0 0 rg BT 96.42 616.60 Td (e subject to discontinuance pr) Tj ET Q q 0 0 0 rg BT 204.06 616.60 Td (ovisions which allow the policyholders to terminate their contracts prior to scheduled maturity at the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 605.80 Td (lesser of the book value or market value. Generally) Tj ET Q q 0 0 0 rg BT 251.70 605.80 Td (, the market value adjustment r) Tj ET Q q 0 0 0 rg BT 363.34 605.80 Td (eflects changes in inter) Tj ET Q q 0 0 0 rg BT 446.24 605.80 Td (est rates and cr) Tj ET Q q 0 0 0 rg BT 501.65 605.80 Td (edit spr) Tj ET Q q 0 0 0 rg BT 528.57 605.80 Td (eads. ) Tj ET Q q 0 0 0 rg BT 549.40 605.80 Td (As a ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 595.00 Td (r) Tj ET Q q 0 0 0 rg BT 70.67 595.00 Td (esult, the market value adjustment featur) Tj ET Q q 0 0 0 rg BT 217.31 595.00 Td (e in the GIC serves to pr) Tj ET Q q 0 0 0 rg BT 305.46 595.00 Td (otect the Company fr) Tj ET Q q 0 0 0 rg BT 380.86 595.00 Td (om inter) Tj ET Q q 0 0 0 rg BT 410.77 595.00 Td (est rate risks and limit Life Operations) Tj ET Q q 0 0 0 rg BT 552.27 595.00 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 584.20 Td (liquidity r) Tj ET Q q 0 0 0 rg BT 102.92 584.20 Td (equir) Tj ET Q q 0 0 0 rg BT 121.58 584.20 Td (ements in the event of a surr) Tj ET Q q 0 0 0 rg BT 223.22 584.20 Td (ender) Tj ET Q q 0 0 0 rg BT 242.72 584.20 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 573.40 Td ([5] ) Tj ET Q q 0 0 0 rg BT 67.50 573.40 Td (Surr) Tj ET Q q 0 0 0 rg BT 83.17 573.40 Td (enders of, or policy loans taken fr) Tj ET Q q 0 0 0 rg BT 204.57 573.40 Td (om, as applicable, these general account liabilities, which include the general account option for ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 562.60 Td (T) Tj ET Q q 0 0 0 rg BT 71.68 562.60 Td (alcott Resolution) Tj ET Q q 0 0 0 rg BT 134.76 562.60 Td (s individual variable annuities and the variable life contracts of the former Individual Life business, the general account ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 551.80 Td (option for annuities of the former Retir) Tj ET Q q 0 0 0 rg BT 207.66 551.80 Td (ement Plans business and universal life contracts sold by the former Individual Life business, may be ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 541.00 Td (funded thr) Tj ET Q q 0 0 0 rg BT 104.41 541.00 Td (ough operating cash flows of Life Operations, available short-term investments, or Life Operations may be r) Tj ET Q q 0 0 0 rg BT 495.31 541.00 Td (equir) Tj ET Q q 0 0 0 rg BT 513.97 541.00 Td (ed to sell fixed ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 530.20 Td (maturity investments to fund the surr) Tj ET Q q 0 0 0 rg BT 199.91 530.20 Td (ender payment. Sales of fixed maturity investments could r) Tj ET Q q 0 0 0 rg BT 410.28 530.20 Td (esult in the r) Tj ET Q q 0 0 0 rg BT 455.19 530.20 Td (ecognition of r) Tj ET Q q 0 0 0 rg BT 507.85 530.20 Td (ealized losses and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 519.40 Td (insufficient pr) Tj ET Q q 0 0 0 rg BT 117.41 519.40 Td (oceeds to fully fund the surr) Tj ET Q q 0 0 0 rg BT 217.81 519.40 Td (ender amount. In this cir) Tj ET Q q 0 0 0 rg BT 306.72 519.40 Td (cumstance, Life Operations may need to take other actions, including ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 508.60 Td (enfor) Tj ET Q q 0 0 0 rg BT 86.16 508.60 Td (cing certain contract pr) Tj ET Q q 0 0 0 rg BT 171.56 508.60 Td (ovisions which could r) Tj ET Q q 0 0 0 rg BT 252.47 508.60 Td (estrict surr) Tj ET Q q 0 0 0 rg BT 291.89 508.60 Td (enders and/or slow or defer payouts. See Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 460.63 508.60 Td (2) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 465.13 508.60 Td ( - ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 474.87 508.60 Td (Business Dispositions) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 553.63 508.60 Td ( of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 497.80 Td (Notes to the Consolidated Financial Statements as to the sale of the Retir) Tj ET Q q 0 0 0 rg BT 331.14 497.80 Td (ement Plans and Individual Life businesses and r) Tj ET Q q 0 0 0 rg BT 508.04 497.80 Td (elated transfer of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 487.00 Td (invested assets in January 2013.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 469.00 Td (Of) Tj ET Q q 0 0 0 rg BT 41.87 469.00 Td (f-Balance Sheet ) Tj ET Q q 0 0 0 rg BT 109.83 469.00 Td (Arrangements and ) Tj ET Q q 0 0 0 rg BT 188.92 469.00 Td (Aggregate Contractual Obligations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 452.00 Td (The Company does not have any of) Tj ET Q q 0 0 0 rg BT 173.51 452.00 Td (f-balance sheet arrangements that are reasonably likely to have a material ef) Tj ET Q q 0 0 0 rg BT 477.34 452.00 Td (fect on the financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 440.00 Td (condition, results of operations, liquidity) Tj ET Q q 0 0 0 rg BT 193.61 440.00 Td (, or capital resources of the Company) Tj ET Q q 0 0 0 rg BT 342.63 440.00 Td (, except for the contingent capital facility described above ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 428.00 Td (and the following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 411.00 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 411.00 Td (The Company has unfunded commitments to purchase investments in limited partnerships, private placements and mortgage loans ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 399.00 Td (of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.94 399.00 Td ($703) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 147.94 399.00 Td ( as disclosed in Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 233.20 399.00 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.20 399.00 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 382.00 Td (The following table identifies the Company) Tj ET Q q 0 0 0 rg BT 208.96 382.00 Td (s aggregate contractual obligations as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.24 382.00 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.82 382.00 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 329.50 246.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.00 329.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 329.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 329.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 329.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 329.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 301.50 246.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.00 301.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 301.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 301.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 301.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 301.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 273.50 246.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.00 273.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 273.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 273.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 273.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 273.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 245.50 246.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.00 245.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 245.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 245.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 245.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 245.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 217.50 246.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 278.00 217.50 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 334.00 217.50 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 217.50 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 217.50 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 217.50 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278 352.5 m 334 352.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 352.5 m 390 352.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 352.5 m 446 352.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 352.5 m 502 352.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 352.5 m 558 352.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 329.5 m 278 329.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278 329.5 m 334 329.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 329.5 m 390 329.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 329.5 m 446 329.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 329.5 m 502 329.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 329.5 m 558 329.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278 217.5 m 334 217.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 217.5 m 390 217.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 217.5 m 446 217.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 217.5 m 502 217.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 217.5 m 558 217.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 217.5 m 278 217.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 204.5 m 278 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 278 204.5 m 334 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 334 204.5 m 390 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 204.5 m 446 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 204.5 m 502 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 204.5 m 558 204.5 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 356.96 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.10 356.95 Td (Payments due by period) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 295.65 333.95 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 343.10 342.95 Td (Less than) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.70 333.95 Td (1 year) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.50 342.95 Td (1-3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 407.25 333.95 Td (years) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 467.50 342.95 Td (3-5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.25 333.95 Td (years) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.20 342.95 Td (Mor) Tj ET Q q 0 0 0 rg BT 526.03 342.95 Td (e than) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 515.85 333.95 Td (5 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 320.07 Td (Property and casualty obligations [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.50 320.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.65 320.07 Td (22,257) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.50 320.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.65 320.07 Td (5,402) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.50 320.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 320.07 Td (5,359) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.50 320.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.65 320.07 Td (2,591) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.50 320.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.65 320.07 Td (8,905) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 306.07 Td (Life, annuity and disability obligations [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.65 306.07 Td (320,661) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.65 306.07 Td (30,529) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.65 306.07 Td (45,442) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.65 306.07 Td (34,993) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.65 306.07 Td (209,697) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 292.07 Td (Operating lease obligations [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.15 292.07 Td (231) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.15 292.07 Td (59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.15 292.07 Td (91) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 292.07 Td (53) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.15 292.07 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 278.07 Td (Revolving Credit Facilities [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.15 278.07 Td (238) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.15 278.07 Td (238) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.15 278.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 278.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.15 278.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 264.07 Td (Long-term debt obligations [5]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.65 264.07 Td (12,639) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.15 264.07 Td (577) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.65 264.07 Td (1,445) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.65 264.07 Td (1,634) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.65 264.07 Td (8,983) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 250.07 Td (Consumer notes [6]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.15 250.07 Td (90) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.15 250.07 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.15 250.07 Td (53) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 250.07 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.15 250.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 236.07 Td (Purchase obligations [7]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.65 236.07 Td (2,043) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.65 236.07 Td (1,582) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.15 236.07 Td (378) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 236.07 Td (74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.15 236.07 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 222.07 Td (Other long-term liabilities reflected on the balance sheet [8]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.15 222.07 Td (289) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.15 222.07 Td (208) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.15 222.07 Td (81) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 222.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.15 222.07 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 208.23 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 280.50 208.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.65 208.23 Td (358,448) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 336.50 208.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.65 208.23 Td (38,611) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 392.50 208.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.65 208.23 Td (52,849) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.50 208.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.65 208.23 Td (39,366) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.50 208.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.65 208.23 Td (227,622) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 189.20 Td ([1] ) Tj ET Q q 0 0 0 rg BT 67.50 189.20 Td (The following points ar) Tj ET Q q 0 0 0 rg BT 151.43 189.20 Td (e significant to understanding the cash flows estimated for obligations under pr) Tj ET Q q 0 0 0 rg BT 437.84 189.20 Td (operty and casualty contracts:) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 178.40 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 178.40 Td (Reserves for Pr) Tj ET Q q 0 0 0 rg BT 141.15 178.40 Td (operty & Casualty unpaid losses and loss adjustment expenses include IBNR and case r) Tj ET Q q 0 0 0 rg BT 457.03 178.40 Td (eserves. While payments due on ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 167.60 Td (claim r) Tj ET Q q 0 0 0 rg BT 110.91 167.60 Td (eserves ar) Tj ET Q q 0 0 0 rg BT 147.32 167.60 Td (e consider) Tj ET Q q 0 0 0 rg BT 184.22 167.60 Td (ed contractual obligations because they r) Tj ET Q q 0 0 0 rg BT 333.11 167.60 Td (elate to insurance policies issued by the Company) Tj ET Q q 0 0 0 rg BT 512.83 167.60 Td (, the ultimate ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 156.80 Td (amount to be paid to settle both case r) Tj ET Q q 0 0 0 rg BT 223.15 156.80 Td (eserves and IBNR is an estimate, subject to significant uncertainty) Tj ET Q q 0 0 0 rg BT 461.61 156.80 Td (. The actual amount to be paid is ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 146.00 Td (not finally determined until the Company r) Tj ET Q q 0 0 0 rg BT 239.15 146.00 Td (eaches a settlement with the claimant. Final claim settlements may vary significantly fr) Tj ET Q q 0 0 0 rg BT 552.50 146.00 Td (om the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 135.20 Td (pr) Tj ET Q q 0 0 0 rg BT 93.17 135.20 Td (esent estimates, particularly since many claims will not be settled until well into the futur) Tj ET Q q 0 0 0 rg BT 414.04 135.20 Td (e.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 124.40 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 124.40 Td (In estimating the timing of futur) Tj ET Q q 0 0 0 rg BT 199.91 124.40 Td (e payments by year) Tj ET Q q 0 0 0 rg BT 268.14 124.40 Td (, the Company has assumed that its historical payment patterns will continue. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 113.60 Td (However) Tj ET Q q 0 0 0 rg BT 116.99 113.60 Td (, the actual timing of futur) Tj ET Q q 0 0 0 rg BT 211.15 113.60 Td (e payments could vary materially fr) Tj ET Q q 0 0 0 rg BT 339.04 113.60 Td (om these estimates due to, among other things, changes in claim ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 102.80 Td (r) Tj ET Q q 0 0 0 rg BT 88.67 102.80 Td (eporting and payment patterns and lar) Tj ET Q q 0 0 0 rg BT 227.58 102.80 Td (ge unanticipated settlements. In particular) Tj ET Q q 0 0 0 rg BT 379.80 102.80 Td (, ther) Tj ET Q q 0 0 0 rg BT 398.47 102.80 Td (e is significant uncertainty over the claim ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 92.00 Td (payment patterns of asbestos and envir) Tj ET Q q 0 0 0 rg BT 225.90 92.00 Td (onmental claims. In addition, the table does not include futur) Tj ET Q q 0 0 0 rg BT 445.79 92.00 Td (e cash flows r) Tj ET Q q 0 0 0 rg BT 495.21 92.00 Td (elated to the r) Tj ET Q q 0 0 0 rg BT 545.11 92.00 Td (eceipt of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 81.20 Td (pr) Tj ET Q q 0 0 0 rg BT 93.17 81.20 Td (emiums that may be used, in part, to fund loss payments.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 70.40 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 70.40 Td (Under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 150.33 70.40 Td (, the Company is only permitted to discount r) Tj ET Q q 0 0 0 rg BT 312.73 70.40 Td (eserves for losses and loss adjustment expenses in cases wher) Tj ET Q q 0 0 0 rg BT 534.62 70.40 Td (e the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 59.60 Td (payment pattern and ultimate loss costs ar) Tj ET Q q 0 0 0 rg BT 238.16 59.60 Td (e fixed and determinable on an individual claim basis. For the Company) Tj ET Q q 0 0 0 rg BT 499.12 59.60 Td (, these include claim ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 48.80 Td (settlements with permanently disabled claimants. ) Tj ET Q q 0 0 0 rg BT 264.81 48.80 Td (As of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 285.31 48.80 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 356.04 48.80 Td (, the total pr) Tj ET Q q 0 0 0 rg BT 400.21 48.80 Td (operty and casualty r) Tj ET Q q 0 0 0 rg BT 476.61 48.80 Td (eserves in the above table ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 38.00 Td (ar) Tj ET Q q 0 0 0 rg BT 93.17 38.00 Td (e gr) Tj ET Q q 0 0 0 rg BT 107.08 38.00 Td (oss of a r) Tj ET Q q 0 0 0 rg BT 140.01 38.00 Td (eserve discount of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 207.24 38.00 Td ($553) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 225.24 38.00 Td (.) Tj ET Q endstream endobj 255 0 obj <> endobj 256 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (127) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 713.80 Td ([2] ) Tj ET Q q 0 0 0 rg BT 67.50 713.80 Td (Estimated life, annuity and disability obligations include death and disability claims, policy surr) Tj ET Q q 0 0 0 rg BT 414.64 713.80 Td (enders, policyholder dividends and trail ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 703.00 Td (commissions offset by expected futur) Tj ET Q q 0 0 0 rg BT 199.14 703.00 Td (e deposits and pr) Tj ET Q q 0 0 0 rg BT 260.55 703.00 Td (emiums on in-for) Tj ET Q q 0 0 0 rg BT 321.71 703.00 Td (ce contracts. Estimated life, annuity and disability obligations ar) Tj ET Q q 0 0 0 rg BT 555.36 703.00 Td (e ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 692.20 Td (based on mortality) Tj ET Q q 0 0 0 rg BT 134.50 692.20 Td (, morbidity and lapse assumptions comparable with the Company) Tj ET Q q 0 0 0 rg BT 372.58 692.20 Td (s historical experience, modified for r) Tj ET Q q 0 0 0 rg BT 508.22 692.20 Td (ecent observed ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 681.40 Td (tr) Tj ET Q q 0 0 0 rg BT 73.17 681.40 Td (ends. The Company has also assumed market gr) Tj ET Q q 0 0 0 rg BT 246.83 681.40 Td (owth and inter) Tj ET Q q 0 0 0 rg BT 299.00 681.40 Td (est cr) Tj ET Q q 0 0 0 rg BT 318.41 681.40 Td (editing consistent with other assumptions. In contrast to this table, the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 670.60 Td (majority of the Company) Tj ET Q q 0 0 0 rg BT 159.08 670.60 Td (s obligations ar) Tj ET Q q 0 0 0 rg BT 215.25 670.60 Td (e r) Tj ET Q q 0 0 0 rg BT 224.67 670.60 Td (ecor) Tj ET Q q 0 0 0 rg BT 240.32 670.60 Td (ded on the balance sheet at the curr) Tj ET Q q 0 0 0 rg BT 369.21 670.60 Td (ent account values and do not incorporate an expectation ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 659.80 Td (of futur) Tj ET Q q 0 0 0 rg BT 93.92 659.80 Td (e market gr) Tj ET Q q 0 0 0 rg BT 135.07 659.80 Td (owth, inter) Tj ET Q q 0 0 0 rg BT 173.74 659.80 Td (est cr) Tj ET Q q 0 0 0 rg BT 193.15 659.80 Td (editing, or futur) Tj ET Q q 0 0 0 rg BT 250.07 659.80 Td (e deposits. Ther) Tj ET Q q 0 0 0 rg BT 306.98 659.80 Td (efor) Tj ET Q q 0 0 0 rg BT 321.15 659.80 Td (e, the estimated obligations pr) Tj ET Q q 0 0 0 rg BT 430.05 659.80 Td (esented in this table significantly exceed ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 649.00 Td (the liabilities r) Tj ET Q q 0 0 0 rg BT 120.16 649.00 Td (ecor) Tj ET Q q 0 0 0 rg BT 135.82 649.00 Td (ded in r) Tj ET Q q 0 0 0 rg BT 163.49 649.00 Td (eserve for futur) Tj ET Q q 0 0 0 rg BT 218.64 649.00 Td (e policy benefits and unpaid losses and loss adjustment expenses, other policyholder funds and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 638.20 Td (benefits payable and separate account liabilities. Due to the significance of the assumptions used, the amounts pr) Tj ET Q q 0 0 0 rg BT 476.11 638.20 Td (esented could materially ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 627.40 Td (differ fr) Tj ET Q q 0 0 0 rg BT 94.92 627.40 Td (om actual r) Tj ET Q q 0 0 0 rg BT 136.08 627.40 Td (esults.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 616.60 Td ( ) Tj ET Q q 0 0 0 rg BT 67.50 616.60 Td (See Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 101.49 616.60 Td (2) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 105.99 616.60 Td ( - Business Dispositions of Notes to Consolidated Financial Statements for further information as to Retir) Tj ET Q q 0 0 0 rg BT 486.40 616.60 Td (ement Plans and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 605.80 Td (Individual Life r) Tj ET Q q 0 0 0 rg BT 126.16 605.80 Td (einsurance transactions. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 595.00 Td ([3] ) Tj ET Q q 0 0 0 rg BT 67.50 595.00 Td (Includes futur) Tj ET Q q 0 0 0 rg BT 117.41 595.00 Td (e minimum lease payments on operating lease agr) Tj ET Q q 0 0 0 rg BT 297.80 595.00 Td (eements. See Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 365.27 595.00 Td (15) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 374.27 595.00 Td ( of Notes to Consolidated Financial Statements for ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 584.20 Td (additional discussion on lease commitments.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 573.40 Td ([4] ) Tj ET Q q 0 0 0 rg BT 67.50 573.40 Td (Repr) Tj ET Q q 0 0 0 rg BT 84.66 573.40 Td (esents r) Tj ET Q q 0 0 0 rg BT 112.07 573.40 Td (evolving cr) Tj ET Q q 0 0 0 rg BT 151.97 573.40 Td (edit facility agr) Tj ET Q q 0 0 0 rg BT 207.13 573.40 Td (eements in or) Tj ET Q q 0 0 0 rg BT 255.28 573.40 Td (der to finance certain withholding taxes on mutual fund gains, that ar) Tj ET Q q 0 0 0 rg BT 505.93 573.40 Td (e subsequently ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 562.60 Td (r) Tj ET Q q 0 0 0 rg BT 70.67 562.60 Td (efunded when HLIKK files its) Tj ET Q q 0 0 0 rg BT 179.17 562.60 Td ( income tax r) Tj ET Q q 0 0 0 rg BT 226.07 562.60 Td (eturns. Both of the cr) Tj ET Q q 0 0 0 rg BT 301.97 562.60 Td (edit facilities expir) Tj ET Q q 0 0 0 rg BT 369.12 562.60 Td (e on ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 386.62 562.60 Td (September 30, 2014) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 458.35 562.60 Td (. See Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 496.84 562.60 Td (13) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 505.84 562.60 Td ( of Notes to ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 551.80 Td (Consolidated Financial Statements for additional discussion of r) Tj ET Q q 0 0 0 rg BT 300.41 551.80 Td (evolving cr) Tj ET Q q 0 0 0 rg BT 340.31 551.80 Td (edit facilities.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 541.00 Td ( [5] ) Tj ET Q q 0 0 0 rg BT 67.50 541.00 Td (Includes contractual principal and inter) Tj ET Q q 0 0 0 rg BT 211.65 541.00 Td (est payments. See Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 296.37 541.00 Td (13) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 305.37 541.00 Td ( of Notes to Consolidated Financial Statements for additional discussion of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 530.20 Td (long-term debt obligations.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 519.40 Td ([6] ) Tj ET Q q 0 0 0 rg BT 67.50 519.40 Td (Consumer notes include principal payments and contractual inter) Tj ET Q q 0 0 0 rg BT 304.39 519.40 Td (est for fixed rate notes and inter) Tj ET Q q 0 0 0 rg BT 419.54 519.40 Td (est based on curr) Tj ET Q q 0 0 0 rg BT 481.45 519.40 Td (ent rates for floating rate ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 508.60 Td (notes. See Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 124.98 508.60 Td (15) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 133.98 508.60 Td ( of Notes to Consolidated Financial Statements for additional discussion of consumer notes.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 497.80 Td ([7] ) Tj ET Q q 0 0 0 rg BT 67.50 497.80 Td (Includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 100.24 497.80 Td ($703) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 118.24 497.80 Td ( in commitments to pur) Tj ET Q q 0 0 0 rg BT 200.90 497.80 Td (chase investments including appr) Tj ET Q q 0 0 0 rg BT 320.80 497.80 Td (oximately ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 358.03 497.80 Td ($531) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 376.03 497.80 Td ( of limited partnership, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 461.28 497.80 Td ($7) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 470.28 497.80 Td ( of private placements and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 487.00 Td ($165) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 487.00 Td ( of mortgage loans. Outstanding commitments under these limited partnerships and mortgage loans ar) Tj ET Q q 0 0 0 rg BT 455.15 487.00 Td (e included in payments due in less ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 476.20 Td (than 1year since the timing of funding these commitments cannot be r) Tj ET Q q 0 0 0 rg BT 320.12 476.20 Td (eliably estimated. The r) Tj ET Q q 0 0 0 rg BT 404.78 476.20 Td (emaining commitments to pur) Tj ET Q q 0 0 0 rg BT 511.68 476.20 Td (chase investments ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 465.40 Td (primarily r) Tj ET Q q 0 0 0 rg BT 106.92 465.40 Td (epr) Tj ET Q q 0 0 0 rg BT 118.58 465.40 Td (esent payables for securities pur) Tj ET Q q 0 0 0 rg BT 235.23 465.40 Td (chased which ar) Tj ET Q q 0 0 0 rg BT 293.89 465.40 Td (e r) Tj ET Q q 0 0 0 rg BT 303.30 465.40 Td (eflected on the Company) Tj ET Q q 0 0 0 rg BT 394.36 465.40 Td (s consolidated balance sheet.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 454.60 Td (Also included in pur) Tj ET Q q 0 0 0 rg BT 140.41 454.60 Td (chase obligations is ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 214.16 454.60 Td ($757) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 232.16 454.60 Td ( r) Tj ET Q q 0 0 0 rg BT 237.58 454.60 Td (elating to contractual commitments to pur) Tj ET Q q 0 0 0 rg BT 388.98 454.60 Td (chase various goods and services such as ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 443.80 Td (maintenance, human r) Tj ET Q q 0 0 0 rg BT 147.90 443.80 Td (esour) Tj ET Q q 0 0 0 rg BT 167.57 443.80 Td (ces, information technology) Tj ET Q q 0 0 0 rg BT 267.30 443.80 Td (, and transportation in the normal course of business. Pur) Tj ET Q q 0 0 0 rg BT 476.22 443.80 Td (chase obligations exclude ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 433.00 Td (contracts that ar) Tj ET Q q 0 0 0 rg BT 127.16 433.00 Td (e cancelable without penalty or contracts that do not specify minimum levels of goods or services to be pur) Tj ET Q q 0 0 0 rg BT 512.26 433.00 Td (chased.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 422.20 Td ([8] ) Tj ET Q q 0 0 0 rg BT 67.50 422.20 Td (Includes cash collateral of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 165.48 422.20 Td ($180) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 183.48 422.20 Td (which the Company has accepted in connection with the Company) Tj ET Q q 0 0 0 rg BT 426.77 422.20 Td (s derivative instruments. Since the timing ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 411.40 Td (of the r) Tj ET Q q 0 0 0 rg BT 93.16 411.40 Td (eturn of the collateral is uncertain, the r) Tj ET Q q 0 0 0 rg BT 237.81 411.40 Td (eturn of the collateral has been included in the payments due in less than 1 year) Tj ET Q q 0 0 0 rg BT 525.01 411.40 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 400.60 Td ( ) Tj ET Q q 0 0 0 rg BT 67.50 400.60 Td (Also included in other long term liabilities is ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 230.99 400.60 Td ($48) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 244.49 400.60 Td ( of net unr) Tj ET Q q 0 0 0 rg BT 281.40 400.60 Td (ecognized tax benefits.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 388.60 Td (Capitalization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 370.60 Td (The capital structure of ) Tj ET Q q 0 0 0 rg BT 126.83 370.60 Td (The Hartford as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.47 370.60 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.05 370.60 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.49 370.60 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.49 370.60 Td ( consisted of debt and stockholders) Tj ET Q q 0 0 0 rg BT 464.33 370.60 Td ( equity) Tj ET Q q 0 0 0 rg BT 491.17 370.60 Td (, summarized as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 358.60 Td (follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 334.10 346.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 334.10 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 334.10 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 334.10 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 308.10 346.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 308.10 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 308.10 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 308.10 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 282.10 346.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 282.10 72.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 282.10 66.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 282.10 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 244.10 346.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 244.10 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 244.10 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 244.10 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 218.10 346.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.00 218.10 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 218.10 66.00 -13.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 516.00 218.10 65.00 -13.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 516.00 205.10 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 334.1 m 378 334.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378 334.1 m 450 334.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 334.1 m 516 334.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 334.1 m 581 334.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378 334.1 m 450 334.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 334.1 m 516 334.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 334.1 m 581 334.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 308.1 m 378 308.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378 308.1 m 450 308.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 308.1 m 516 308.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 308.1 m 581 308.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 295.1 m 378 295.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378 295.1 m 450 295.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 295.1 m 516 295.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 295.1 m 581 295.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 244.10000000000002 m 378 244.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378 244.10000000000002 m 450 244.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 244.10000000000002 m 516 244.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 244.10000000000002 m 581 244.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 378 244.10000000000002 m 450 244.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 244.10000000000002 m 516 244.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 218.10000000000002 m 378 218.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 218.10000000000002 m 450 218.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 218.10000000000002 m 516 218.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 218.10000000000002 m 581 218.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 192.10000000000002 m 378 192.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 192.10000000000002 m 450 192.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 192.10000000000002 m 516 192.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 192.10000000000002 m 581 192.10000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 403.35 338.55 Td ( 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.35 338.55 Td ( 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.20 338.55 Td (Change) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 324.67 Td (Short-term debt \(includes current maturities of long-term debt\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.50 324.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.15 324.67 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.50 324.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 324.67 Td (320) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.80 324.67 Td (\(38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 324.67 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 311.67 Td (Short-term due on revolving credit facility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.15 311.67 Td (238) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 311.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.35 311.67 Td (NM) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 298.67 Td (Long-term debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.65 298.67 Td (6,106) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 298.67 Td (6,806) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.80 298.67 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 298.67 Td (\)%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 285.83 Td (Total debt [1]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.65 285.83 Td (6,544) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 484.65 285.83 Td (7,126) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.80 285.83 Td (\(8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 567.15 285.83 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 272.67 Td (Stockholders equity excluding accumulated other comprehensive income \(loss\), net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 262.67 Td (of tax \(AOCI\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.65 261.77 Td (18,984) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 261.77 Td (19,604) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 261.77 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 261.77 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 247.67 Td (AOCI, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 247.72 Td (\(79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 247.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 247.67 Td (2,843) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.80 247.67 Td (\(103) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 247.67 Td (\)%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 234.83 Td (Total stockholders equity) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 380.50 234.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.65 234.83 Td (18,905) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.50 234.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.65 234.83 Td (22,447) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 553.80 234.83 Td (\(16) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 567.15 234.83 Td (\)%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 221.83 Td (Total capitalization including AOCI) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 380.50 221.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.65 221.83 Td (25,449) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.50 221.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.65 221.83 Td (29,573) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 553.80 221.83 Td (\(14) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 567.15 221.83 Td (\)%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 208.67 Td (Debt to stockholders equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 208.67 Td (35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 208.67 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 208.67 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 208.67 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 195.67 Td (Debt to capitalization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 195.67 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 195.67 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 195.67 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 195.67 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 174.60 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 174.60 Td (T) Tj ET Q q 0 0 0 rg BT 53.68 174.60 Td (otal debt of the Company excludes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 180.15 174.60 Td ($84) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 193.65 174.60 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 211.65 174.60 Td ($161) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 229.65 174.60 Td ( of consumer notes as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 319.14 174.60 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 389.87 174.60 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 407.87 174.60 Td (December31, 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 478.60 174.60 Td (, r) Tj ET Q q 0 0 0 rg BT 486.27 174.60 Td (espectively) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 525.74 174.60 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 156.60 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 86.75 156.60 Td (s total capitalization decreased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 211.70 156.60 Td ($4.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.81 156.60 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.64 156.60 Td (14%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.97 156.60 Td (, from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.91 156.60 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.49 156.60 Td ( to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.27 156.60 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.85 156.60 Td ( due to decreases in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 144.60 Td (total debt and ) Tj ET Q q 0 0 0 rg BT 87.88 144.60 Td (AOCI, net of tax, and decreases in stockholders' equity) Tj ET Q q 0 0 0 rg BT 307.30 144.60 Td (, excluding ) Tj ET Q q 0 0 0 rg BT 353.68 144.60 Td (AOCI. ) Tj ET Q q 0 0 0 rg BT 382.95 144.60 Td (The decrease in stockholders) Tj ET Q q 0 0 0 rg BT 501.32 144.60 Td ( equity) Tj ET Q q 0 0 0 rg BT 528.17 144.60 Td (, excluding ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 132.60 Td (AOCI, was primarily due to the repurchase of outstanding warrants for $33, and common stocks for $600. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 114.60 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 114.60 Td (otal debt decreased due to the repayment of $320 of senior notes and repurchase of approximately $800 of senior debt, partially of) Tj ET Q q 0 0 0 rg BT 557.67 114.60 Td (fset ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 102.60 Td (by a $300 senior note issuance and a $238 outstanding revolving credit facility balance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 84.60 Td (AOCI, net of tax, decreased from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.56 84.60 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 246.14 84.60 Td ( to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.92 84.60 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.51 84.60 Td ( primarily due to reclassification of realized capital gains ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 72.60 Td (associated with the business dispositions to retained earnings within stockholders' equity excluding ) Tj ET Q q 0 0 0 rg BT 429.91 72.60 Td (AOCI, and a decease in the value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 60.60 Td (fixed maturities ) Tj ET Q q 0 0 0 rg BT 96.49 60.60 Td (AFS due to an increase in interest rates. ) Tj ET Q q 0 0 0 rg BT 260.15 60.60 Td (The realized capital gains are of) Tj ET Q q 0 0 0 rg BT 387.95 60.60 Td (fset within retained earnings by the reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 48.60 Td (loss on the business dispositions.) Tj ET Q endstream endobj 257 0 obj <> endobj 258 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (128) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (For additional information on debt and the repurchase of warrants, see MD&A) Tj ET Q q 0 0 0 rg BT 345.86 713.10 Td ( Liquidity Requirements and Sources of Capital, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.44 701.10 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.44 701.10 Td ( - Debt of Notes to Consolidated Financial Statements. For additional information on the business dispositions and ) Tj ET Q q 0 0 0 rg BT 525.89 701.10 Td (AOCI, net of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (tax, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.92 689.10 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.92 689.10 Td ( - Business Dispositions and Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.70 689.10 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.70 689.10 Td ( -Changes In and Reclassifications From ) Tj ET Q q 0 0 0 rg BT 403.12 689.10 Td (Accumulated Other Comprehensive Income ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (of Notes to Consolidated Financial Statements, respectively) Tj ET Q q 0 0 0 rg BT 269.97 677.10 Td (. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td ( ) Tj ET Q q 0 0 0 rg BT 34.00 659.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 57.62 659.10 Td (Flow) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 629.60 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 629.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 629.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 629.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 601.60 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 601.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 403.00 601.60 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 601.60 65.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 629.6 m 338 629.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 629.6 m 403 629.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 629.6 m 468 629.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 629.6 m 533 629.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 573.6 m 338 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 573.6 m 403 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403 573.6 m 468 573.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 573.6 m 533 573.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 361.00 634.00 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.00 634.00 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.20 634.00 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 620.17 Td (Net cash provided by operating activities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 620.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.65 620.17 Td (1,237) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 620.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 620.17 Td (2,681) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 620.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 620.17 Td (2,274) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 606.17 Td (Net provided by \(cash used\) for investing activities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 606.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.65 606.17 Td (3,745) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 606.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.30 606.22 Td (\(2,557) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.15 606.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 606.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.30 606.22 Td (\(1,182) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 606.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 592.17 Td (Net cash used for financing activities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 592.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.30 592.22 Td (\(5,820) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 592.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 592.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.80 592.22 Td (\(228) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.15 592.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 592.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.80 592.22 Td (\(609) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 592.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 578.17 Td (Cash end of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.50 578.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.65 578.17 Td (1,428) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.50 578.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 578.17 Td (2,421) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 578.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 578.17 Td (2,581) Tj ET Q BT /F2 10.00 Tf ET BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 556.10 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 556.10 Td (ear ) Tj ET Q q 0 0 0 rg BT 52.33 556.10 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 556.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 138.41 556.10 Td (2013) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 556.10 Td ( ) Tj ET Q q 0 0 0 rg BT 160.91 556.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 203.96 556.10 Td (to ) Tj ET Q q 0 0 0 rg BT 214.24 556.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.52 556.10 Td (year ) Tj ET Q q 0 0 0 rg BT 249.79 556.10 Td (ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 556.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 335.87 556.10 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.87 556.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 538.10 Td (Cash provided by operating activities decreased primarily due to realized capital losses of $1.5 billion in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.66 538.10 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.16 538.10 Td (, compared to an increase ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 526.10 Td (in income taxes received of $486 in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.73 526.10 Td ( 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.23 526.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 508.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 53.62 508.10 Td (used ) Tj ET Q q 0 0 0 rg BT 74.07 508.10 Td (for ) Tj ET Q q 0 0 0 rg BT 87.85 508.10 Td (investing ) Tj ET Q q 0 0 0 rg BT 126.64 508.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 164.86 508.10 Td (in ) Tj ET Q q 0 0 0 rg BT 174.76 508.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 196.88 508.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 236.22 508.10 Td (relates ) Tj ET Q q 0 0 0 rg BT 264.43 508.10 Td (to ) Tj ET Q q 0 0 0 rg BT 274.33 508.10 Td (net ) Tj ET Q q 0 0 0 rg BT 288.67 508.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 326.33 508.10 Td (of ) Tj ET Q q 0 0 0 rg BT 336.78 508.10 Td (available-for) Tj ET Q q 0 0 0 rg BT 387.66 508.10 Td (-sale ) Tj ET Q q 0 0 0 rg BT 408.66 508.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 448.54 508.10 Td (of ) Tj ET Q q 0 0 0 rg BT 459.00 508.10 Td ($4.9 ) Tj ET Q q 0 0 0 rg BT 478.62 508.10 Td (billion ) Tj ET Q q 0 0 0 rg BT 506.85 508.10 Td (and ) Tj ET Q q 0 0 0 rg BT 523.41 508.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 561.07 508.10 Td (from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 496.10 Td (business ) Tj ET Q q 0 0 0 rg BT 67.98 496.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 87.25 496.10 Td (of ) Tj ET Q q 0 0 0 rg BT 98.17 496.10 Td ($815 ) Tj ET Q q 0 0 0 rg BT 120.76 496.10 Td (of) Tj ET Q q 0 0 0 rg BT 128.91 496.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 145.94 496.10 Td (by ) Tj ET Q q 0 0 0 rg BT 158.54 496.10 Td (net ) Tj ET Q q 0 0 0 rg BT 173.35 496.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 214.26 496.10 Td (on ) Tj ET Q q 0 0 0 rg BT 226.86 496.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 273.32 496.10 Td (of ) Tj ET Q q 0 0 0 rg BT 284.24 496.10 Td ($2.2 ) Tj ET Q q 0 0 0 rg BT 304.34 496.10 Td (billion. ) Tj ET Q q 0 0 0 rg BT 335.54 496.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 358.14 496.10 Td (used ) Tj ET Q q 0 0 0 rg BT 379.06 496.10 Td (for ) Tj ET Q q 0 0 0 rg BT 393.31 496.10 Td (investing ) Tj ET Q q 0 0 0 rg BT 432.57 496.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 471.26 496.10 Td (in ) Tj ET Q q 0 0 0 rg BT 481.63 496.10 Td (2012 ) Tj ET Q q 0 0 0 rg BT 504.22 496.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 544.03 496.10 Td (relates ) Tj ET Q q 0 0 0 rg BT 572.72 496.10 Td (to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 484.10 Td (net ) Tj ET Q q 0 0 0 rg BT 46.64 484.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 87.89 484.10 Td (on ) Tj ET Q q 0 0 0 rg BT 100.81 484.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 147.60 484.10 Td (of ) Tj ET Q q 0 0 0 rg BT 158.86 484.10 Td ($2.7 ) Tj ET Q q 0 0 0 rg BT 179.28 484.10 Td (billion, ) Tj ET Q q 0 0 0 rg BT 210.81 484.10 Td (purchases ) Tj ET Q q 0 0 0 rg BT 253.17 484.10 Td (of ) Tj ET Q q 0 0 0 rg BT 264.42 484.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 305.10 484.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 329.13 484.10 Td (of ) Tj ET Q q 0 0 0 rg BT 340.39 484.10 Td ($968 ) Tj ET Q q 0 0 0 rg BT 363.31 484.10 Td (and ) Tj ET Q q 0 0 0 rg BT 380.67 484.10 Td (net ) Tj ET Q q 0 0 0 rg BT 395.81 484.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 437.06 484.10 Td (for ) Tj ET Q q 0 0 0 rg BT 451.64 484.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.78 484.10 Td (purchases ) Tj ET Q q 0 0 0 rg BT 509.13 484.10 Td (of ) Tj ET Q q 0 0 0 rg BT 520.38 484.10 Td (partnerships ) Tj ET Q q 0 0 0 rg BT 572.18 484.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 472.10 Td ($695, ) Tj ET Q q 0 0 0 rg BT 56.74 472.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 92.80 472.10 Td (of) Tj ET Q q 0 0 0 rg BT 100.95 472.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 118.13 472.10 Td (by ) Tj ET Q q 0 0 0 rg BT 130.88 472.10 Td (net ) Tj ET Q q 0 0 0 rg BT 145.83 472.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 184.11 472.10 Td (of ) Tj ET Q q 0 0 0 rg BT 195.18 472.10 Td (available-for) Tj ET Q q 0 0 0 rg BT 246.06 472.10 Td (-sale ) Tj ET Q q 0 0 0 rg BT 267.68 472.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 308.19 472.10 Td (of ) Tj ET Q q 0 0 0 rg BT 319.26 472.10 Td ($1.7 ) Tj ET Q q 0 0 0 rg BT 339.50 472.10 Td (billion ) Tj ET Q q 0 0 0 rg BT 368.36 472.10 Td (and ) Tj ET Q q 0 0 0 rg BT 385.54 472.10 Td (net ) Tj ET Q q 0 0 0 rg BT 400.49 472.10 Td (receipts ) Tj ET Q q 0 0 0 rg BT 434.33 472.10 Td (of ) Tj ET Q q 0 0 0 rg BT 445.40 472.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 468.69 472.10 Td (maturities, ) Tj ET Q q 0 0 0 rg BT 513.92 472.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 530.54 472.10 Td (value ) Tj ET Q q 0 0 0 rg BT 554.94 472.10 Td (option ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 460.10 Td (of ) Tj ET Q q 0 0 0 rg BT 42.33 460.10 Td ($101. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 442.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 53.68 442.10 Td (used ) Tj ET Q q 0 0 0 rg BT 74.19 442.10 Td (for ) Tj ET Q q 0 0 0 rg BT 88.02 442.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 127.96 442.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 166.24 442.10 Td (in ) Tj ET Q q 0 0 0 rg BT 176.20 442.10 Td (2013 ) Tj ET Q q 0 0 0 rg BT 198.38 442.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 237.76 442.10 Td (consists ) Tj ET Q q 0 0 0 rg BT 271.61 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.12 442.10 Td (net ) Tj ET Q q 0 0 0 rg BT 296.51 442.10 Td (outflows ) Tj ET Q q 0 0 0 rg BT 333.69 442.10 Td (on ) Tj ET Q q 0 0 0 rg BT 345.87 442.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 391.93 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.55 442.10 Td (universal ) Tj ET Q q 0 0 0 rg BT 447.38 442.10 Td (life-type ) Tj ET Q q 0 0 0 rg BT 483.43 442.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 521.70 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 532.21 442.10 Td ($2.1 ) Tj ET Q q 0 0 0 rg BT 551.89 442.10 Td (billion, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 430.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 67.70 430.10 Td (in ) Tj ET Q q 0 0 0 rg BT 77.27 430.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 116.82 430.10 Td (loaned ) Tj ET Q q 0 0 0 rg BT 145.27 430.10 Td (or ) Tj ET Q q 0 0 0 rg BT 155.38 430.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 173.84 430.10 Td (under ) Tj ET Q q 0 0 0 rg BT 198.40 430.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 245.72 430.10 Td (to ) Tj ET Q q 0 0 0 rg BT 255.29 430.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 300.38 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 310.50 430.10 Td ($1.9 ) Tj ET Q q 0 0 0 rg BT 329.79 430.10 Td (billion, ) Tj ET Q q 0 0 0 rg BT 360.19 430.10 Td (repayment ) Tj ET Q q 0 0 0 rg BT 404.18 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 414.30 430.10 Td (long ) Tj ET Q q 0 0 0 rg BT 433.87 430.10 Td (term ) Tj ET Q q 0 0 0 rg BT 453.98 430.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 472.99 430.10 Td (of ) Tj ET Q q 0 0 0 rg BT 483.10 430.10 Td ($ ) Tj ET Q q 0 0 0 rg BT 489.89 430.10 Td (1.3 ) Tj ET Q q 0 0 0 rg BT 504.18 430.10 Td (billion ) Tj ET Q q 0 0 0 rg BT 532.08 430.10 Td (and ) Tj ET Q q 0 0 0 rg BT 548.31 430.10 Td (treasury ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 418.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 55.00 418.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 91.81 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 102.52 418.10 Td ($600. ) Tj ET Q q 0 0 0 rg BT 127.41 418.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 149.80 418.10 Td (used ) Tj ET Q q 0 0 0 rg BT 170.51 418.10 Td (for ) Tj ET Q q 0 0 0 rg BT 184.56 418.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 224.71 418.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 263.20 418.10 Td (in ) Tj ET Q q 0 0 0 rg BT 273.36 418.10 Td (2012 ) Tj ET Q q 0 0 0 rg BT 295.75 418.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 335.35 418.10 Td (consists ) Tj ET Q q 0 0 0 rg BT 369.40 418.10 Td (of ) Tj ET Q q 0 0 0 rg BT 380.12 418.10 Td (net ) Tj ET Q q 0 0 0 rg BT 394.72 418.10 Td (outflows ) Tj ET Q q 0 0 0 rg BT 432.11 418.10 Td (on ) Tj ET Q q 0 0 0 rg BT 444.50 418.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 490.76 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 507.59 418.10 Td (universal ) Tj ET Q q 0 0 0 rg BT 546.63 418.10 Td (life-type ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 406.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 69.94 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 80.61 406.10 Td ($1.4 ) Tj ET Q q 0 0 0 rg BT 100.45 406.10 Td (billion, ) Tj ET Q q 0 0 0 rg BT 131.41 406.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 177.06 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 187.73 406.10 Td (warrants ) Tj ET Q q 0 0 0 rg BT 224.50 406.10 Td (of ) Tj ET Q q 0 0 0 rg BT 235.17 406.10 Td ($300, ) Tj ET Q q 0 0 0 rg BT 260.02 406.10 Td (as ) Tj ET Q q 0 0 0 rg BT 270.69 406.10 Td (well ) Tj ET Q q 0 0 0 rg BT 290.25 406.10 Td (as ) Tj ET Q q 0 0 0 rg BT 300.92 406.10 Td (share ) Tj ET Q q 0 0 0 rg BT 324.36 406.10 Td (repurchases ) Tj ET Q q 0 0 0 rg BT 373.90 406.10 Td (and ) Tj ET Q q 0 0 0 rg BT 390.68 406.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 431.91 406.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 451.47 406.10 Td (on ) Tj ET Q q 0 0 0 rg BT 463.82 406.10 Td (common ) Tj ET Q q 0 0 0 rg BT 501.15 406.10 Td (and ) Tj ET Q q 0 0 0 rg BT 517.94 406.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 556.91 406.10 Td (stock. ) Tj ET Q q 0 0 0 rg BT 583.02 406.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 394.10 Td (These ) Tj ET Q q 0 0 0 rg BT 57.88 394.10 Td (were ) Tj ET Q q 0 0 0 rg BT 79.81 394.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 115.63 394.10 Td (of) Tj ET Q q 0 0 0 rg BT 123.78 394.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 140.71 394.10 Td (by ) Tj ET Q q 0 0 0 rg BT 153.21 394.10 Td (net ) Tj ET Q q 0 0 0 rg BT 167.93 394.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 207.08 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 217.35 394.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 257.62 394.10 Td (loaned ) Tj ET Q q 0 0 0 rg BT 286.77 394.10 Td (or ) Tj ET Q q 0 0 0 rg BT 297.60 394.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 316.77 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.60 394.10 Td ($1.9 ) Tj ET Q q 0 0 0 rg BT 347.60 394.10 Td (billion. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 376.10 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 376.10 Td (ear ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 79.27 376.10 Td (December31, 2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 158.41 376.10 Td ( compared to the year ended ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 276.72 376.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 350.32 376.10 Td (1) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 355.32 376.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 358.10 Td (Cash provided by operating activities increased primarily due to income taxes received of $486 in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.54 358.10 Td ( 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.04 358.10 Td (, compared to income taxes paid ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 346.10 Td (of $179 in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 75.11 346.10 Td (201) Tj ET Q q 0 0 0 rg BT 89.74 346.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 94.74 346.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 328.10 Td (Cash used for investing activities in 2012 primarily relates to net payments on derivatives of $2.7 billion, purchases of mortgage loans of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 316.10 Td ($968 and net payments for the purchases of partnerships of $695, partially of) Tj ET Q q 0 0 0 rg BT 339.29 316.10 Td (fset by net proceeds of available-for) Tj ET Q q 0 0 0 rg BT 483.19 316.10 Td (-sale securities of $1.7 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 304.10 Td (billion and net receipts of fixed maturities, fair value option of $101. Cash used for investing activities in 201) Tj ET Q q 0 0 0 rg BT 468.81 304.10 Td (1 primarily relates to net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 292.10 Td (purchases of mortgage loans of $1.3billion and net purchases of fixed maturities, fair value option of $627, partially of) Tj ET Q q 0 0 0 rg BT 508.41 292.10 Td (fset by net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 280.10 Td (receipts on derivatives of $720 and net proceeds of available-for) Tj ET Q q 0 0 0 rg BT 288.70 280.10 Td (-sale securities of $256. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 262.10 Td (Cash used for financing activities in 2012 primarily consists of net outflows on investment and universal life-type contracts of $1.4 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 250.10 Td (billion, repurchase of warrants of $300, as well as share repurchases and dividends paid on common and preferred stock. ) Tj ET Q q 0 0 0 rg BT 519.22 250.10 Td (These were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 238.10 Td (partially of) Tj ET Q q 0 0 0 rg BT 75.47 238.10 Td (fset by net increases in securities loaned or sold of $1.9 billion. Cash used for financing activities in 201) Tj ET Q q 0 0 0 rg BT 491.67 238.10 Td (1 primarily consists ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 226.10 Td (of repayment of long-term debt and dividends paid on common and preferred stock, partially of) Tj ET Q q 0 0 0 rg BT 413.70 226.10 Td (fset by net inflows on investment and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 214.10 Td (universal life-type contracts.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 196.10 Td (Equity Markets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 178.10 Td (For a discussion of the potential impact of the equity markets on capital and liquidity) Tj ET Q q 0 0 0 rg BT 370.78 178.10 Td (, see the Financial Risk on Statutory Capital and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 166.10 Td (Liquidity Risk section in this MD&A.) Tj ET Q endstream endobj 259 0 obj <> endobj 260 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (129) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Ratings) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Ratings impact the Company) Tj ET Q q 0 0 0 rg BT 150.65 695.25 Td (s cost of borrowing and its ability to access financing and are an important factor in establishing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (competitive position in the insurance and financial services marketplace. ) Tj ET Q q 0 0 0 rg BT 324.55 683.25 Td (There can be no assurance that the Company) Tj ET Q q 0 0 0 rg BT 506.42 683.25 Td (s ratings will ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (continue for any given period of time or that they will not be changed. In the event the Company) Tj ET Q q 0 0 0 rg BT 421.11 671.25 Td (s ratings are downgraded, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (Company) Tj ET Q q 0 0 0 rg BT 73.17 659.25 Td (s cost of borrowing and ability to access financing, as well as the level of revenues or the persistency of its business may be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (adversely impacted.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (The following table summarizes ) Tj ET Q q 0 0 0 rg BT 162.95 629.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 218.20 629.25 Td (s significant member companies) Tj ET Q q 0 0 0 rg BT 349.92 629.25 Td ( financial ratings from the major independent rating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (or) Tj ET Q q 0 0 0 rg BT 39.65 617.25 Td (ganizations as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 109.35 617.25 Td (February25, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.95 617.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 592.75 198.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 592.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.00 592.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 592.75 104.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 592.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 562.75 198.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 562.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.00 562.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 562.75 104.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 562.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 532.75 198.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 532.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.00 532.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 532.75 104.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 532.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 502.75 198.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 230.00 502.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 299.00 502.75 69.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 502.75 104.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 502.75 69.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 592.75 m 230 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 592.75 m 299 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299 592.75 m 368 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 592.75 m 472 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 592.75 m 541 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 517.75 m 230 517.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 517.75 m 299 517.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299 517.75 m 368 517.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 517.75 m 472 517.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 517.75 m 541 517.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 472.75 m 230 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 230 472.75 m 299 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 299 472.75 m 368 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 472.75 m 472 472.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 472.75 m 541 472.75 l s BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.50 597.43 Td (Insurance Financial Strength Ratings:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 242.75 597.43 Td (A.M. Best) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.85 597.43 Td (Fitch) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 379.20 597.43 Td (Standard & Poor's) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.65 597.43 Td (Moody's) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 582.42 Td (Hartford Fire Insurance Company) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.65 582.42 Td (A) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.55 582.42 Td (A+) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 582.42 Td (A) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.85 582.42 Td (A2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 567.42 Td (Hartford Life Insurance Company) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.70 567.42 Td (A-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.70 567.42 Td (A-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.65 567.42 Td (BBB+) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.85 567.42 Td (A3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 552.42 Td (Hartford Life and Accident Insurance Company) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.70 552.42 Td (A-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.70 552.42 Td (A-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.20 552.42 Td (A-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.85 552.42 Td (A3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 537.42 Td (Hartford Life and Annuity Insurance Company) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.70 537.42 Td (A-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.70 537.42 Td (A-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.65 537.42 Td (BBB+) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.70 537.42 Td (Baa2) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.50 522.43 Td (Other Ratings:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.00 522.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.00 522.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.50 522.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.00 522.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 507.42 Td (The Hartford Financial Services Group, Inc.:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.00 507.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.00 507.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.50 507.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.00 507.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 492.42 Td (Senior debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.65 492.42 Td (bbb+) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.95 492.42 Td (BBB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.45 492.42 Td (BBB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.70 492.42 Td (Baa3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 477.42 Td (Commercial paper) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.40 477.42 Td (AMB-2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.70 477.42 Td (F2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.70 477.42 Td (A-2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.05 477.42 Td (P-3) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (These ratings are not a recommendation to buy or hold any of ) Tj ET Q q 0 0 0 rg BT 280.69 461.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 335.94 461.25 Td (s securities and they may be revised or revoked at any time ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (at the sole discretion of the rating or) Tj ET Q q 0 0 0 rg BT 176.00 449.25 Td (ganization.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.25 Td (The agencies consider many factors in determining the final rating of an insurance company) Tj ET Q q 0 0 0 rg BT 399.33 431.25 Td (. One consideration is the relative level of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (statutory surplus necessary to support the business written. Statutory surplus represents the capital of the insurance company reported in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.25 Td (accordance with accounting practices prescribed by the applicable state insurance department. See Part I, Item 1A. Risk Factors ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.25 Td (Downgrades in our financial strength or credit ratings, which may make our products less attractive, could increase our cost of capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (and inhibit our ability to refinance our debt, which would have a material adverse ef) Tj ET Q q 0 0 0 rg BT 367.59 383.25 Td (fect on our business, financial condition, results of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.25 Td (operations and liquidity) Tj ET Q q 0 0 0 rg BT 125.84 371.25 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 353.25 Td (Statutory Surplus) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 338.25 Td (The table below sets forth statutory surplus for the Company) Tj ET Q q 0 0 0 rg BT 277.29 338.25 Td (s insurance companies ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.76 338.25 Td (as of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.00 338.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.44 338.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.44 338.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 314.75 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 314.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 314.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 286.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 286.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 286.75 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 314.75 m 410 314.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 314.75 m 466 314.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 314.75 m 522 314.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 286.75 m 410 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 273.75 m 410 273.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 286.75 m 466 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 273.75 m 466 273.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 286.75 m 522 286.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 273.75 m 522 273.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.50 318.48 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.50 318.48 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 305.32 Td (U.S. life insurance subsidiaries, includes domestic captive insurance subsidiaries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.50 305.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.65 305.32 Td (6,639) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.50 305.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 305.32 Td (6,410) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 291.32 Td (Property and casualty insurance subsidiaries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.65 291.32 Td (8,022) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 291.32 Td (7,645) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 277.48 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.50 277.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.65 277.48 Td (14,661) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.50 277.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.65 277.48 Td (14,055) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 259.25 Td (Statutory capital and surplus for the U.S. life insurance subsidiaries, including domestic captive insurance subsidiaries, increased by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 247.25 Td ($229) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 247.25 Td (, primarily due to net income from non-variable annuity business of $2 billion including statutory gains from the sales of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 235.25 Td (Retirement Plans and Individual Life businesses, change in af) Tj ET Q q 0 0 0 rg BT 278.20 235.25 Td (filiated subsidiaries carrying values of $361, change in other invested ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 223.25 Td (assets carrying values of $250, net deferred gain on inforce reinsurance of $77, partially of) Tj ET Q q 0 0 0 rg BT 393.96 223.25 Td (fset by decreases in other surplus changes of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 211.25 Td ($30, letter of credit decreases of $269, deferred income tax of $31) Tj ET Q q 0 0 0 rg BT 295.19 211.25 Td (1, variable annuity surplus impacts of approximately $349, and net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 199.25 Td (returns of capital of $1.5 billion.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 184.25 Td (Statutory capital and surplus for the property and casualty insurance subsidiaries increased by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.89 184.25 Td ($377) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.89 184.25 Td (, primarily due to statutory net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 172.25 Td (income, after tax, of $1,067, unrealized gains of $100, and an decrease in statutory admitted deferred tax assets of $63, capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 160.25 Td (contributions of $73, partially of) Tj ET Q q 0 0 0 rg BT 161.57 160.25 Td (fset by dividends to the HFSG Holding Company of $800. Both net income and dividends are net of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 148.25 Td (interest payments and dividends, respectively) Tj ET Q q 0 0 0 rg BT 212.75 148.25 Td (, on an intercompany note between Hartford Holdings, Inc. and Hartford Fire Insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 136.25 Td (Company) Tj ET Q q 0 0 0 rg BT 69.74 136.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 121.25 Td (The Company also holds regulatory capital and surplus for its operations in Japan. Under the accounting practices and procedures ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 109.25 Td (governed by Japanese regulatory authorities, the Company) Tj ET Q q 0 0 0 rg BT 268.93 109.25 Td (s statutory capital and surplus was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.35 109.25 Td ($1.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.46 109.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.90 109.25 Td ($1.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.02 109.25 Td ( as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 97.25 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.08 97.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 97.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.52 97.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.52 97.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 202.18 97.25 Td (.) Tj ET Q endstream endobj 261 0 obj <> endobj 262 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (130) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Statutory Capital) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 697.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 697.25 Td (s stockholders) Tj ET Q q 0 0 0 rg BT 150.74 697.25 Td ( equity) Tj ET Q q 0 0 0 rg BT 177.58 697.25 Td (, as prepared using U.S. generally accepted accounting principles \(U.S. GAAP\) was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.42 697.25 Td ($18.9 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.53 697.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 685.25 Td (as of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 131.74 685.25 Td (. ) Tj ET Q q 0 0 0 rg BT 136.56 685.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 196.28 685.25 Td (s estimated aggregate statutory capital and surplus, as prepared in accordance with the National ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 673.25 Td (Association of Insurance Commissioners) Tj ET Q q 0 0 0 rg BT 198.23 673.25 Td ( ) Tj ET Q q 0 0 0 rg BT 200.18 673.25 Td (Accounting Practices and Procedures Manual \(U.S. ST) Tj ET Q q 0 0 0 rg BT 423.76 673.25 Td (A) Tj ET Q q 0 0 0 rg BT 429.87 673.25 Td (T\) was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.30 673.25 Td ($14.7 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.42 673.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.42 673.25 Td (as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 661.25 Td (December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 661.25 Td (. Significant dif) Tj ET Q q 0 0 0 rg BT 172.39 661.25 Td (ferences between U.S. GAAP) Tj ET Q q 0 0 0 rg BT 291.15 661.25 Td ( stockholders) Tj ET Q q 0 0 0 rg BT 346.79 661.25 Td ( equity and aggregate statutory capital and surplus ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 649.25 Td (prepared in accordance with U.S. ST) Tj ET Q q 0 0 0 rg BT 178.15 649.25 Td (A) Tj ET Q q 0 0 0 rg BT 184.26 649.25 Td (T) Tj ET Q q 0 0 0 rg BT 190.19 649.25 Td ( include the following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 633.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 633.25 Td (U.S. ST) Tj ET Q q 0 0 0 rg BT 88.00 633.25 Td (A) Tj ET Q q 0 0 0 rg BT 94.12 633.25 Td (T) Tj ET Q q 0 0 0 rg BT 100.04 633.25 Td ( excludes equity of non-insurance and foreign insurance subsidiaries not held by U.S. insurance subsidiaries.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 617.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 617.25 Td (Costs incurred by the Company to acquire insurance policies are deferred under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 425.54 617.25 Td ( while those costs are expensed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 605.25 Td (immediately under U.S. ST) Tj ET Q q 0 0 0 rg BT 165.76 605.25 Td (A) Tj ET Q q 0 0 0 rg BT 171.87 605.25 Td (T) Tj ET Q q 0 0 0 rg BT 177.24 605.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 589.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 589.25 Td (T) Tj ET Q q 0 0 0 rg BT 62.26 589.25 Td (emporary dif) Tj ET Q q 0 0 0 rg BT 114.00 589.25 Td (ferences between the book and tax basis of an asset or liability which are recorded as deferred tax assets are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 577.25 Td (evaluated for recoverability under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 242.26 577.25 Td ( while those amounts deferred are subject to limitations under U.S. ST) Tj ET Q q 0 0 0 rg BT 522.78 577.25 Td (A) Tj ET Q q 0 0 0 rg BT 528.90 577.25 Td (T) Tj ET Q q 0 0 0 rg BT 534.26 577.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 561.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 561.25 Td (The assumptions used in the determination of Life benefit reserves is prescribed under U.S. ST) Tj ET Q q 0 0 0 rg BT 435.95 561.25 Td (A) Tj ET Q q 0 0 0 rg BT 442.06 561.25 Td (T) Tj ET Q q 0 0 0 rg BT 447.43 561.25 Td (, while the assumptions used ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 549.25 Td (under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 129.26 549.25 Td ( are generally the Company) Tj ET Q q 0 0 0 rg BT 242.55 549.25 Td (s best estimates. ) Tj ET Q q 0 0 0 rg BT 309.58 549.25 Td (The methodologies for determining life insurance reserve amounts ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 537.25 Td (may also be dif) Tj ET Q q 0 0 0 rg BT 118.04 537.25 Td (ferent. For example, reserving for living benefit reserves under U.S. ST) Tj ET Q q 0 0 0 rg BT 403.27 537.25 Td (A) Tj ET Q q 0 0 0 rg BT 409.38 537.25 Td (T) Tj ET Q q 0 0 0 rg BT 415.31 537.25 Td ( is generally addressed by the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 525.25 Td (Commissioners) Tj ET Q q 0 0 0 rg BT 121.66 525.25 Td ( ) Tj ET Q q 0 0 0 rg BT 123.61 525.25 Td (Annuity Reserving ) Tj ET Q q 0 0 0 rg BT 201.76 525.25 Td (V) Tj ET Q q 0 0 0 rg BT 207.87 525.25 Td (aluation Methodology and the related ) Tj ET Q q 0 0 0 rg BT 359.77 525.25 Td (Actuarial Guidelines, while under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 544.19 525.25 Td (, those ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 513.25 Td (same living benefits may be considered embedded derivatives and recorded at fair value or they may be considered SOP) Tj ET Q q 0 0 0 rg BT 537.98 513.25 Td ( 03-1 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 501.25 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 94.43 501.25 Td (The sensitivity of these life insurance reserves to changes in equity markets, as applicable, will be dif) Tj ET Q q 0 0 0 rg BT 499.12 501.25 Td (ferent between U.S. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 489.25 Td (GAAP) Tj ET Q q 0 0 0 rg BT 83.71 489.25 Td ( and U.S. ST) Tj ET Q q 0 0 0 rg BT 134.30 489.25 Td (A) Tj ET Q q 0 0 0 rg BT 140.41 489.25 Td (T) Tj ET Q q 0 0 0 rg BT 145.78 489.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 473.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 473.25 Td (The dif) Tj ET Q q 0 0 0 rg BT 85.82 473.25 Td (ference between the amortized cost and fair value of fixed maturity and other investments, net of tax, is recorded as an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 461.25 Td (increase or decrease to the carrying value of the related asset and to equity under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 428.38 461.25 Td (, while U.S. ST) Tj ET Q q 0 0 0 rg BT 489.25 461.25 Td (A) Tj ET Q q 0 0 0 rg BT 495.37 461.25 Td (T) Tj ET Q q 0 0 0 rg BT 501.29 461.25 Td ( only records ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 449.25 Td (certain securities at fair value, such as equity securities and certain lower rated bonds required by the NAIC to be recorded at the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 437.25 Td (lower of amortized cost or fair value.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 421.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 421.25 Td (U.S. ST) Tj ET Q q 0 0 0 rg BT 88.00 421.25 Td (A) Tj ET Q q 0 0 0 rg BT 94.12 421.25 Td (T) Tj ET Q q 0 0 0 rg BT 100.04 421.25 Td ( for life insurance companies establishes a formula reserve for realized and unrealized losses due to default and equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 409.25 Td (risks associated with certain invested assets \(the ) Tj ET Q q 0 0 0 rg BT 250.97 409.25 Td (Asset ) Tj ET Q q 0 0 0 rg BT 275.51 409.25 Td (V) Tj ET Q q 0 0 0 rg BT 281.62 409.25 Td (aluation Reserve\), while U.S. GAAP) Tj ET Q q 0 0 0 rg BT 428.73 409.25 Td ( does not. ) Tj ET Q q 0 0 0 rg BT 469.28 409.25 Td (Also, for those realized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 397.25 Td (gains and losses caused by changes in interest rates, U.S. ST) Tj ET Q q 0 0 0 rg BT 297.94 397.25 Td (A) Tj ET Q q 0 0 0 rg BT 304.06 397.25 Td (T) Tj ET Q q 0 0 0 rg BT 309.98 397.25 Td ( for life insurance companies defers and amortizes the gains and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 385.25 Td (losses, caused by changes in interest rates, into income over the original life to maturity of the asset sold \(the Interest Maintenance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 373.25 Td (Reserve\) while U.S. GAAP) Tj ET Q q 0 0 0 rg BT 166.74 373.25 Td ( does not.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 357.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 357.25 Td (Goodwill arising from the acquisition of a business is tested for recoverability on an annual basis \(or more frequently) Tj ET Q q 0 0 0 rg BT 524.97 357.25 Td (, as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 345.25 Td (necessary\) for U.S. GAAP) Tj ET Q q 0 0 0 rg BT 162.11 345.25 Td (, while under U.S. ST) Tj ET Q q 0 0 0 rg BT 248.25 345.25 Td (A) Tj ET Q q 0 0 0 rg BT 254.36 345.25 Td (T) Tj ET Q q 0 0 0 rg BT 260.29 345.25 Td ( goodwill is amortized over a period not to exceed 10years and the amount of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 333.25 Td (goodwill is limited.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.25 Td (In addition, certain assets, including a portion of premiums receivable and fixed assets, are non-admitted \(recorded at zero value and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.25 Td (char) Tj ET Q q 0 0 0 rg BT 48.53 305.25 Td (ged against surplus\) under U.S. ST) Tj ET Q q 0 0 0 rg BT 187.43 305.25 Td (A) Tj ET Q q 0 0 0 rg BT 193.55 305.25 Td (T) Tj ET Q q 0 0 0 rg BT 198.91 305.25 Td (. U.S. GAAP) Tj ET Q q 0 0 0 rg BT 251.05 305.25 Td ( generally evaluates assets based on their recoverability) Tj ET Q q 0 0 0 rg BT 472.26 305.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 289.25 Td (Risk-Based Capital) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 271.25 Td (The Hartford's U.S. insurance companies' states of domicile impose risk-based capital \(RBC\) requirements. ) Tj ET Q q 0 0 0 rg BT 475.07 271.25 Td (The requirements provide ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 259.25 Td (a means of measuring the minimum amount of statutory capital and) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 301.98828125 257.9169921875 m 304.48828125 257.9169921875 l s q 0 0 0 rg BT 301.99 259.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.49 259.25 Td (surplus, referred to collectively as capital, appropriate for an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 247.25 Td (insurance company to support its overall business operations based on its size and risk profile. Regulatory compliance is determined by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 235.25 Td (a ratio of a company's total adjusted capital \(T) Tj ET Q q 0 0 0 rg BT 220.21 235.25 Td (AC\) to its authorized control level RBC \(ACL) Tj ET Q q 0 0 0 rg BT 413.96 235.25 Td ( RBC\). Companies below specific ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 223.25 Td (trigger points or ratios are classified within certain levels, each of which requires specified corrective action. ) Tj ET Q q 0 0 0 rg BT 470.31 223.25 Td (The minimum level of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 211.25 Td (T) Tj ET Q q 0 0 0 rg BT 36.81 211.25 Td (AC before corrective action commences is two times the ) Tj ET Q q 0 0 0 rg BT 265.34 211.25 Td (ACL) Tj ET Q q 0 0 0 rg BT 284.97 211.25 Td ( RBC \(Company ) Tj ET Q q 0 0 0 rg BT 358.58 211.25 Td (Action Level\). ) Tj ET Q q 0 0 0 rg BT 426.15 211.25 Td (The adequacy of a company's capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 199.25 Td (is determined by the ratio of a company's ) Tj ET Q q 0 0 0 rg BT 198.63 199.25 Td (T) Tj ET Q q 0 0 0 rg BT 203.94 199.25 Td (AC to its Company ) Tj ET Q q 0 0 0 rg BT 283.39 199.25 Td (Action Level \(known as the RBC ratio\). ) Tj ET Q q 0 0 0 rg BT 448.08 199.25 Td (All of ) Tj ET Q q 0 0 0 rg BT 474.01 199.25 Td (The Hartford's operating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 187.25 Td (insurance subsidiaries had RBC ratios in excess of the minimum levels required by the applicable insurance regulations. On an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 175.25 Td (aggregate basis, ) Tj ET Q q 0 0 0 rg BT 97.68 175.25 Td (The Hartford's U.S. property and casualty insurance companies' RBC ratio was in excess of 200% of Company ) Tj ET Q q 0 0 0 rg BT 546.18 175.25 Td (Action ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 163.25 Td (Level as of December 31, 2013 and 2012. ) Tj ET Q q 0 0 0 rg BT 203.77 163.25 Td (The RBC ratios for ) Tj ET Q q 0 0 0 rg BT 283.02 163.25 Td (The Hartford's principal life insurance operating subsidiaries were all in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 151.25 Td (excess of 425% of Company ) Tj ET Q q 0 0 0 rg BT 148.42 151.25 Td (Action Level as of December 31, 2013 and 2012. In addition, ) Tj ET Q q 0 0 0 rg BT 399.01 151.25 Td (White River Life Reinsurance Company) Tj ET Q q 0 0 0 rg BT 559.98 151.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 139.25 Td (comprising approximately 15% of the capital of the Company's U.S. life insurance subsidiaries, has an RBC ratio that exceeds the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 127.25 Td (minimum level required by applicable insurance regulations. ) Tj ET Q q 0 0 0 rg BT 279.30 127.25 Td (The reporting of RBC ratios is not intended for the purpose of ranking any ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 115.25 Td (insurance company or for use in connection with any marketing, advertising or promotional activities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 97.25 Td (Similar to the RBC ratios that are employed by U.S. insurance regulators, regulatory authorities in the international jurisdictions in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 85.25 Td (which ) Tj ET Q q 0 0 0 rg BT 58.26 85.25 Td (The Hartford operates generally establish minimum solvency requirements for insurance companies. ) Tj ET Q q 0 0 0 rg BT 467.57 85.25 Td (All of ) Tj ET Q q 0 0 0 rg BT 493.50 85.25 Td (The Hartford's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 73.25 Td (international insurance subsidiaries have solvency mar) Tj ET Q q 0 0 0 rg BT 249.86 73.25 Td (gins in excess of the minimum levels required by the applicable regulatory ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 61.25 Td (authorities. ) Tj ET Q q 0 0 0 rg BT 81.03 61.25 Td (The solvency mar) Tj ET Q q 0 0 0 rg BT 152.49 61.25 Td (gin ratio for ) Tj ET Q q 0 0 0 rg BT 202.57 61.25 Td (The Hartford's insurance subsidiary in Japan as of its last fiscal year end, March 31, 2013, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 49.25 Td (was in excess of three times the amount of capital that would require corrective action.) Tj ET Q endstream endobj 263 0 obj <> endobj 264 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (131) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Sensitivity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (In any particular year) Tj ET Q q 0 0 0 rg BT 116.89 695.25 Td (, statutory surplus amounts and RBC ratios may increase or decrease depending upon a variety of factors. ) Tj ET Q q 0 0 0 rg BT 540.75 695.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (amount of change in the statutory surplus or RBC ratios can vary based on individual factors and may be compounded in extreme ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (scenarios or if multiple factors occur at the same time. ) Tj ET Q q 0 0 0 rg BT 250.59 671.25 Td (At times the impact of changes in certain market factors or a combination of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (multiple factors on RBC ratios can be counterintuitive. For further discussion on these factors and the potential impacts to the life ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (insurance subsidiaries, see the Financial Risk on Statutory Capital section within Enterprise Risk Management.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (Statutory capital at the property and casualty subsidiaries has historically been maintained at or above the capital level required to meet ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (AA) Tj ET Q q 0 0 0 rg BT 49.83 617.25 Td ( level ratings from rating agencies. Statutory capital generated by the property and casualty subsidiaries in excess of the capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (level required to meet AA) Tj ET Q q 0 0 0 rg BT 139.79 605.25 Td ( level ratings is available for use by the enterprise or for corporate purposes. ) Tj ET Q q 0 0 0 rg BT 450.88 605.25 Td (The amount of statutory capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (can increase or decrease depending on a number of factors af) Tj ET Q q 0 0 0 rg BT 275.64 593.25 Td (fecting property and casualty results including, among other factors, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (level of catastrophe claims incurred, the amount of reserve development, the ef) Tj ET Q q 0 0 0 rg BT 347.58 581.25 Td (fect of changes in interest rates on investment income and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (the discounting of loss reserves, and the ef) Tj ET Q q 0 0 0 rg BT 201.28 569.25 Td (fect of realized gains and losses on investments.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (In addition, the Company can access the $500 Glen Meadow trust contingent capital facility and maintains the ability to access ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.63 551.25 Td ($1.75 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.61 539.25 Td ( of capacity under its revolving credit facility) Tj ET Q q 0 0 0 rg BT 237.73 539.25 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (Contingencies) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (Legal Pr) Tj ET Q q 0 0 0 rg BT 66.41 503.25 Td (oceedings) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 106.39 503.25 Td ( For a discussion regarding contingencies related to ) Tj ET Q q 0 0 0 rg BT 326.99 503.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 382.24 503.25 Td (s legal proceedings, please see the information ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (contained under Litigation and Asbestos and Environmental Claims, in Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.80 491.25 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.80 491.25 Td ( of Notes to Consolidated Financial Statements, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (which is incorporated herein by reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (For a discussion of terrorism reinsurance legislation and how it af) Tj ET Q q 0 0 0 rg BT 294.03 461.25 Td (fects ) Tj ET Q q 0 0 0 rg BT 315.23 461.25 Td (The Hartford, see T) Tj ET Q q 0 0 0 rg BT 397.82 461.25 Td (errorism under the Insurance Risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (Management section of the MD&A.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.25 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 431.25 Td (ax proposals and regulatory initiatives which have been or are being considered by Congress and/or the United States ) Tj ET Q q 0 0 0 rg BT 508.82 431.25 Td (T) Tj ET Q q 0 0 0 rg BT 514.58 431.25 Td (reasury ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (Department could have a material ef) Tj ET Q q 0 0 0 rg BT 177.08 419.25 Td (fect on the insurance business. ) Tj ET Q q 0 0 0 rg BT 301.31 419.25 Td (These proposals and initiatives include, or could include, new taxes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.25 Td (or assessments on lar) Tj ET Q q 0 0 0 rg BT 116.03 407.25 Td (ge financial institutions, changes pertaining to the income tax treatment of insurance companies and life insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.25 Td (products and annuities, repeal or reform of the estate tax and comprehensive federal tax reform, and changes to the regulatory structure ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (for financial institutions. ) Tj ET Q q 0 0 0 rg BT 132.41 383.25 Td (The nature and timing of any Congressional or regulatory action with respect to any such ef) Tj ET Q q 0 0 0 rg BT 499.07 383.25 Td (forts is unclear) Tj ET Q q 0 0 0 rg BT 557.94 383.25 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (Legislative ) Tj ET Q q 0 0 0 rg BT 78.43 365.25 Td (Developments) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (Dodd-Frank W) Tj ET Q q 0 0 0 rg BT 91.40 347.25 Td (all Str) Tj ET Q q 0 0 0 rg BT 115.76 347.25 Td (eet Reform and Consumer Pr) Tj ET Q q 0 0 0 rg BT 232.59 347.25 Td (otection ) Tj ET Q q 0 0 0 rg BT 267.13 347.25 Td (Act of 2010 \(the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 391.65 347.25 Td (Act\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.25 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 100.38 329.25 Td (Act was enacted on July21, 2010, mandating changes to the regulation of the financial services industry) Tj ET Q q 0 0 0 rg BT 517.39 329.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.25 Td (Implementation of the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 173.69 317.25 Td (Act is ongoing and may af) Tj ET Q q 0 0 0 rg BT 279.32 317.25 Td (fect our operations and governance in ways that could adversely af) Tj ET Q q 0 0 0 rg BT 546.26 317.25 Td (fect our ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.25 Td (financial condition and results of operations. ) Tj ET Q q 0 0 0 rg BT 212.11 305.25 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 280.98 305.25 Td (Act requires central clearing of, and imposes new mar) Tj ET Q q 0 0 0 rg BT 497.11 305.25 Td (gin requirements on, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.25 Td (certain derivatives transactions, which increases the costs of our hedging program. Other provisions in the Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 509.16 293.25 Td (Act that may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.25 Td (impact us include: the new Federal Insurance Of) Tj ET Q q 0 0 0 rg BT 229.85 281.25 Td (fice within ) Tj ET Q q 0 0 0 rg BT 279.65 281.25 Td (T) Tj ET Q q 0 0 0 rg BT 285.41 281.25 Td (reasury; the possible adverse impact on the pricing and liquidity of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.25 Td (securities in which we invest resulting from the proprietary trading and market making limitation of the ) Tj ET Q q 0 0 0 rg BT 447.88 269.25 Td (V) Tj ET Q q 0 0 0 rg BT 453.81 269.25 Td (olcker Rule; the possible ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.25 Td (adverse impact on the market for insurance-linked securities, including catastrophe bonds, resulting from the limitations of banking ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.25 Td (entity involvement in and ownership of certain asset-backed securities transactions; and enhancements to corporate governance, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (especially regarding risk management.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 214.65 Td (The Dodd-Frank ) Tj ET Q q 0 0 0 rg BT 100.38 214.65 Td (Act vests the Financial Stability Oversight Council \(FSOC\) with the power to designate systemically important ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 202.65 Td (institutions, which will be subject to special regulatory supervision and other provisions intended to prevent, or mitigate the impact of, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 190.65 Td (future disruptions in the U.S. financial system. Based on its most current financial data, ) Tj ET Q q 0 0 0 rg BT 383.47 190.65 Td (The Hartford is below the quantitative thresholds ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 178.65 Td (used by the FSOC to determine which nonbank companies merit consideration. However) Tj ET Q q 0 0 0 rg BT 387.69 178.65 Td (, the FSOC has indicted it will review on a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 166.65 Td (quarterly basis whether nonbank financial institutions meet the metrics for further review) Tj ET Q q 0 0 0 rg BT 387.68 166.65 Td (. If we were to be designated as a systemically ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 154.65 Td (important institution, we could be subject to heightened regulation under the Federal Reserve, which could impact requirements ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 142.65 Td (regarding our capital, liquidity and leverage as well as our business and investment conduct. In addition, we could be subject to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 130.65 Td (assessments to pay for the orderly liquidation of other systemically important financial institutions that have become insolvent. ) Tj ET Q endstream endobj 265 0 obj <> endobj 266 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (132) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Patient Pr) Tj ET Q q 0 0 0 rg BT 72.51 713.10 Td (otection and ) Tj ET Q q 0 0 0 rg BT 124.54 713.10 Td (Affor) Tj ET Q q 0 0 0 rg BT 144.73 713.10 Td (dable Car) Tj ET Q q 0 0 0 rg BT 184.63 713.10 Td (e ) Tj ET Q q 0 0 0 rg BT 191.39 713.10 Td (Act of 2010 \(the "Affor) Tj ET Q q 0 0 0 rg BT 282.43 713.10 Td (dable Car) Tj ET Q q 0 0 0 rg BT 322.33 713.10 Td (e ) Tj ET Q q 0 0 0 rg BT 329.09 713.10 Td (Act"\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (On March 23, 2010, the President signed the ) Tj ET Q q 0 0 0 rg BT 212.03 695.10 Td (Af) Tj ET Q q 0 0 0 rg BT 222.40 695.10 Td (fordable Care ) Tj ET Q q 0 0 0 rg BT 279.04 695.10 Td (Act. Implementation of the ) Tj ET Q q 0 0 0 rg BT 389.29 695.10 Td (Af) Tj ET Q q 0 0 0 rg BT 399.66 695.10 Td (fordable Care ) Tj ET Q q 0 0 0 rg BT 456.30 695.10 Td (Act will impact ) Tj ET Q q 0 0 0 rg BT 520.83 695.10 Td (The Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (in the same way it impacts other lar) Tj ET Q q 0 0 0 rg BT 173.78 683.10 Td (ge employers.) Tj ET Q q 0 0 0 rg BT 232.19 683.10 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 287.44 683.10 Td (s core business does not involve the issuance of health insurance. ) Tj ET Q q 0 0 0 rg BT 550.53 683.10 Td (W) Tj ET Q q 0 0 0 rg BT 559.17 683.10 Td (e do ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (not issue any products that insure customers under the ) Tj ET Q q 0 0 0 rg BT 250.07 671.10 Td (Af) Tj ET Q q 0 0 0 rg BT 260.44 671.10 Td (fordable Care ) Tj ET Q q 0 0 0 rg BT 317.08 671.10 Td (Act) Tj ET Q q 0 0 0 rg BT 334.30 671.10 Td (s individual mandate. It is too early to tell how the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (Af) Tj ET Q q 0 0 0 rg BT 41.87 659.10 Td (fordable Care ) Tj ET Q q 0 0 0 rg BT 98.51 659.10 Td (Act will impact ) Tj ET Q q 0 0 0 rg BT 163.04 659.10 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 218.29 659.10 Td (s businesses as key aspects of the law are still not fully implemented.For example, private ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (exchanges may provide ) Tj ET Q q 0 0 0 rg BT 128.23 647.10 Td (The Hartford additional opportunities to market our group benefit products and services.Similarly) Tj ET Q q 0 0 0 rg BT 521.09 647.10 Td (, access to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (medical care and medical costs are a substantial component of both disability and workers compensation products of) Tj ET Q q 0 0 0 rg BT 497.85 635.10 Td (fered by ) Tj ET Q q 0 0 0 rg BT 533.20 635.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (Hartford. ) Tj ET Q q 0 0 0 rg BT 70.75 623.10 Td (W) Tj ET Q q 0 0 0 rg BT 79.39 623.10 Td (e are currently analyzing how the ) Tj ET Q q 0 0 0 rg BT 214.88 623.10 Td (Af) Tj ET Q q 0 0 0 rg BT 225.25 623.10 Td (fordable Care ) Tj ET Q q 0 0 0 rg BT 281.90 623.10 Td (Act may impact consumer) Tj ET Q q 0 0 0 rg BT 386.74 623.10 Td (, broker and medical provider behavior) Tj ET Q q 0 0 0 rg BT 542.24 623.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (T) Tj ET Q q 0 0 0 rg BT 36.14 605.10 Td (err) Tj ET Q q 0 0 0 rg BT 47.99 605.10 Td (orism Risk Insurance Pr) Tj ET Q q 0 0 0 rg BT 145.11 605.10 Td (ogram Reauthorization ) Tj ET Q q 0 0 0 rg BT 240.49 605.10 Td (Act of 2007 \(TRIPRA\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 583.10 Td (On December 26, 2007, the President signed ) Tj ET Q q 0 0 0 rg BT 212.67 583.10 Td (TRIPRA) Tj ET Q q 0 0 0 rg BT 247.68 583.10 Td ( extending the ) Tj ET Q q 0 0 0 rg BT 306.65 583.10 Td (T) Tj ET Q q 0 0 0 rg BT 312.06 583.10 Td (errorism Risk Insurance ) Tj ET Q q 0 0 0 rg BT 410.09 583.10 Td (Act of 2002 \(TRIA\) through the end of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 571.10 Td (2014. ) Tj ET Q q 0 0 0 rg BT 56.32 571.10 Td (The Company's principal reinsurance protection against lar) Tj ET Q q 0 0 0 rg BT 292.31 571.10 Td (ge-scale terrorist attacks is the coverage currently provided through ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 559.10 Td (TRIPRA, as private sector catastrophe reinsurance is extremely limited and generally unavailable for terrorism losses caused by attacks ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 547.10 Td (with nuclear) Tj ET Q q 0 0 0 rg BT 80.80 547.10 Td (, biological, chemical or radiological weapons. ) Tj ET Q q 0 0 0 rg BT 270.28 547.10 Td (TRIPRA) Tj ET Q q 0 0 0 rg BT 305.29 547.10 Td ( is due to expire at the end of 2014 unless Congress takes legislative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 535.10 Td (action to reauthorize it. If Congress fails to act, the Company may be required to take actions to reduce its exposure to terrorism risks, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 523.10 Td (which could negatively impact its business. Even if Congress extends ) Tj ET Q q 0 0 0 rg BT 312.10 523.10 Td (TRIPRA) Tj ET Q q 0 0 0 rg BT 347.11 523.10 Td ( beyond 2014, it could make changes that would ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 511.10 Td (negatively impact the Company) Tj ET Q q 0 0 0 rg BT 158.32 511.10 Td (. For example, past reauthorizations of ) Tj ET Q q 0 0 0 rg BT 314.76 511.10 Td (TRIA) Tj ET Q q 0 0 0 rg BT 337.54 511.10 Td ( have narrowed the insurance lines that are covered under ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 499.10 Td (the program. For additional information on ) Tj ET Q q 0 0 0 rg BT 206.01 499.10 Td (TRIPRA) Tj ET Q q 0 0 0 rg BT 241.02 499.10 Td ( see T) Tj ET Q q 0 0 0 rg BT 268.63 499.10 Td (errorism under the Insurance Risk Management section of the MD&A.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 477.10 Td (Budget of the United States Government) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 459.10 Td (The Obama ) Tj ET Q q 0 0 0 rg BT 80.37 459.10 Td (Administration has not yet released its proposed federal budget for fiscal year \("FY"\) 2015. Last year's proposal, entitled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 447.10 Td (FY) Tj ET Q q 0 0 0 rg BT 48.35 447.10 Td ( 2014, Budget of the United States Government \(the Budget\) included proposals that if enacted, would have af) Tj ET Q q 0 0 0 rg BT 503.32 447.10 Td (fected the taxation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 435.10 Td (of life insurance companies and certain life insurance products. In particular) Tj ET Q q 0 0 0 rg BT 335.69 435.10 Td (, the proposals would have changed the method used to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 423.10 Td (determine the amount of dividend income received by a life insurance company on assets held in separate accounts used to support ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 411.10 Td (products, including variable life insurance and variable annuity contracts, which are eligible for the dividends received deduction ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 399.10 Td (\(DRD\). ) Tj ET Q q 0 0 0 rg BT 72.97 399.10 Td (The DRD reduces the amount of dividend income subject to tax and is a significant component of the dif) Tj ET Q q 0 0 0 rg BT 492.13 399.10 Td (ference between the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 387.10 Td (Company's actual tax expense and expected amount determined using the federal statutory tax rate of 35%. ) Tj ET Q q 0 0 0 rg BT 462.14 387.10 Td (The proposal was not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 375.10 Td (enacted. If this proposal is included in the proposed federal budget for FY) Tj ET Q q 0 0 0 rg BT 326.88 375.10 Td ( 2015 and subsequently enacted, the Company's actual tax ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 363.10 Td (expense could increase, reducing earnings.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 345.10 Td (Guaranty ) Tj ET Q q 0 0 0 rg BT 73.45 345.10 Td (Fund ) Tj ET Q q 0 0 0 rg BT 98.75 345.10 Td (and ) Tj ET Q q 0 0 0 rg BT 116.81 345.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 143.20 345.10 Td (Insurance-related ) Tj ET Q q 0 0 0 rg BT 219.22 345.10 Td (Assessments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 327.10 Td (For a discussion regarding Guaranty Fund and Other Insurance-related ) Tj ET Q q 0 0 0 rg BT 316.14 327.10 Td (Assessments, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.46 327.10 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.46 327.10 Td ( of Notes to Consolidated Financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 315.10 Td (Statements.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 297.10 Td (IMP) Tj ET Q q 0 0 0 rg BT 50.20 297.10 Td (ACT) Tj ET Q q 0 0 0 rg BT 71.13 297.10 Td ( ) Tj ET Q q 0 0 0 rg BT 73.63 297.10 Td (OF) Tj ET Q q 0 0 0 rg BT 87.14 297.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.64 297.10 Td (NEW) Tj ET Q q 0 0 0 rg BT 113.36 297.10 Td ( ) Tj ET Q q 0 0 0 rg BT 115.30 297.10 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 187.25 297.10 Td (ST) Tj ET Q q 0 0 0 rg BT 198.74 297.10 Td (ANDARDS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 279.10 Td (For ) Tj ET Q q 0 0 0 rg BT 47.89 279.10 Td (a ) Tj ET Q q 0 0 0 rg BT 54.83 279.10 Td (discussion ) Tj ET Q q 0 0 0 rg BT 99.00 279.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.83 279.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 156.20 279.10 Td (standards, ) Tj ET Q q 0 0 0 rg BT 198.97 279.10 Td (see ) Tj ET Q q 0 0 0 rg BT 214.24 279.10 Td (Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.18 279.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.18 279.10 Td ( ) Tj ET Q q 0 0 0 rg BT 243.68 279.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.51 279.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 280.34 279.10 Td (to ) Tj ET Q q 0 0 0 rg BT 290.62 279.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 345.89 279.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 385.60 279.10 Td (Statements.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 261.10 Td (Item7A. ) Tj ET Q q 0 0 0 rg BT 85.50 261.10 Td (QUANTIT) Tj ET Q q 0 0 0 rg BT 131.43 261.10 Td (A) Tj ET Q q 0 0 0 rg BT 137.91 261.10 Td (TIVE ) Tj ET Q q 0 0 0 rg BT 164.31 261.10 Td (AND QUALIT) Tj ET Q q 0 0 0 rg BT 227.19 261.10 Td (A) Tj ET Q q 0 0 0 rg BT 233.67 261.10 Td (TIVE DISCLOSURES ) Tj ET Q q 0 0 0 rg BT 333.15 261.10 Td (ABOUT) Tj ET Q q 0 0 0 rg BT 368.53 261.10 Td ( MARKET) Tj ET Q q 0 0 0 rg BT 415.85 261.10 Td ( RISK) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 246.10 Td (The information required by this item is set forth in the Enterprise Risk Management section of Item7, Management) Tj ET Q q 0 0 0 rg BT 501.10 246.10 Td (s Discussion and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 234.10 Td (Analysis of Financial Condition and Results of Operations and is incorporated herein by reference.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 219.10 Td (Item8. ) Tj ET Q q 0 0 0 rg BT 85.50 219.10 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 141.62 219.10 Td ( ST) Tj ET Q q 0 0 0 rg BT 155.61 219.10 Td (A) Tj ET Q q 0 0 0 rg BT 162.09 219.10 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 212.94 219.10 Td (AND SUPPLEMENT) Tj ET Q q 0 0 0 rg BT 304.70 219.10 Td (AR) Tj ET Q q 0 0 0 rg BT 318.79 219.10 Td (Y) Tj ET Q q 0 0 0 rg BT 325.64 219.10 Td ( DA) Tj ET Q q 0 0 0 rg BT 341.84 219.10 Td (T) Tj ET Q q 0 0 0 rg BT 347.77 219.10 Td (A) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 204.10 Td (See ) Tj ET Q q 0 0 0 rg BT 48.44 204.10 Td (Index ) Tj ET Q q 0 0 0 rg BT 73.71 204.10 Td (to ) Tj ET Q q 0 0 0 rg BT 83.99 204.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 139.26 204.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 178.97 204.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 225.35 204.10 Td (and ) Tj ET Q q 0 0 0 rg BT 242.29 204.10 Td (Schedules ) Tj ET Q q 0 0 0 rg BT 285.34 204.10 Td (elsewhere ) Tj ET Q q 0 0 0 rg BT 327.81 204.10 Td (herein.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 189.10 Td (Item9. ) Tj ET Q q 0 0 0 rg BT 85.50 189.10 Td (CHANGES IN ) Tj ET Q q 0 0 0 rg BT 150.51 189.10 Td (AND DISAGREEMENTS ) Tj ET Q q 0 0 0 rg BT 264.80 189.10 Td (WITH ) Tj ET Q q 0 0 0 rg BT 295.08 189.10 Td (ACCOUNT) Tj ET Q q 0 0 0 rg BT 344.90 189.10 Td (ANTS ON ) Tj ET Q q 0 0 0 rg BT 391.02 189.10 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 462.42 189.10 Td (AND FINANCIAL) Tj ET Q q 0 0 0 rg BT 542.70 189.10 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 177.10 Td (DISCLOSURE) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 162.10 Td (None.) Tj ET Q endstream endobj 267 0 obj <> endobj 268 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (133) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Item9A. ) Tj ET Q q 0 0 0 rg BT 85.50 713.25 Td (CONTROLS ) Tj ET Q q 0 0 0 rg BT 143.57 713.25 Td (AND PROCEDURES) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Evaluation ) Tj ET Q q 0 0 0 rg BT 79.57 695.25 Td (of ) Tj ET Q q 0 0 0 rg BT 90.40 695.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 134.57 695.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 170.41 695.25 Td (and ) Tj ET Q q 0 0 0 rg BT 188.47 695.25 Td (procedures) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.25 Td (The Company's principal executive of) Tj ET Q q 0 0 0 rg BT 183.63 677.25 Td (ficer and its principal financial of) Tj ET Q q 0 0 0 rg BT 317.00 677.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 334.92 677.25 Td (, based on their evaluation of the Company's disclosure ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (controls and procedures \(as defined in Exchange ) Tj ET Q q 0 0 0 rg BT 227.82 665.25 Td (Act Rule 13a-15\(e\)\) have concluded that the Company's disclosure controls and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (procedures are ef) Tj ET Q q 0 0 0 rg BT 100.16 653.25 Td (fective for the purposes set forth in the definition thereof in Exchange ) Tj ET Q q 0 0 0 rg BT 381.18 653.25 Td (Act Rule 13a-15\(e\) as of December 31, 2013.) 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 575.25 Td ( company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles generally ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (accepted in the United States. ) Tj ET Q q 0 0 0 rg BT 152.02 551.25 Td (A) Tj ET Q q 0 0 0 rg BT 158.69 551.25 Td ( company's internal control over financial reporting includes policies and procedures that \(1\) pertain to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (company; \(2\) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (accordance with accounting principles generally accepted in the United States, and that receipts and expenditures of the company are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (being made only in accordance with authorizations of management and directors of the company; and \(3\) provide reasonable assurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company's assets that could have a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (material ef) Tj ET Q q 0 0 0 rg BT 74.35 479.25 Td (fect on the financial statements.) 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (The Hartford's management assessed its internal controls over financial reporting as of December 31, 2013 in relation to criteria for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.25 Td (ef) Tj ET Q q 0 0 0 rg BT 39.09 407.25 Td (fective internal control over financial reporting described in ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 285.09 407.25 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 342.78 407.25 Td (ol-Integrated Framework \(1992\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.86 407.25 Td ( issued by the Committee ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.25 Td (of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 100.76 395.25 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 174.17 395.25 Td (T) Tj ET Q q 0 0 0 rg BT 179.93 395.25 Td (readway Commission. Based on this assessment under those criteria, ) Tj ET Q q 0 0 0 rg BT 457.19 395.25 Td (The Hartford's management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (concluded that its internal control over financial reporting was ef) Tj ET Q q 0 0 0 rg BT 290.95 383.25 Td (fective as of December 31, 2013.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (Changes in internal control over financial reporting) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (There were no changes in the Company's internal control over financial reporting that occurred during the Company's fourth fiscal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (quarter of 2013 that have materially af) Tj ET Q q 0 0 0 rg BT 185.14 335.25 Td (fected, or are reasonably likely to materially af) Tj ET Q q 0 0 0 rg BT 372.10 335.25 Td (fect, the Company's internal control over financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.25 Td (reporting.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 305.25 Td (Attestation ) Tj ET Q q 0 0 0 rg BT 78.45 305.25 Td (report ) Tj ET Q q 0 0 0 rg BT 105.95 305.25 Td (of ) Tj ET Q q 0 0 0 rg BT 116.78 305.25 Td (the ) Tj ET Q q 0 0 0 rg BT 132.06 305.25 Td (Company) Tj ET Q q 0 0 0 rg BT 174.10 305.25 Td (s ) Tj ET Q q 0 0 0 rg BT 180.49 305.25 Td (registered ) Tj ET Q q 0 0 0 rg BT 223.54 305.25 Td (public ) Tj ET Q q 0 0 0 rg BT 251.59 305.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 300.21 305.25 Td (firm) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.25 Td (The Hartford's independent registered public accounting firm, Deloitte & ) Tj ET Q q 0 0 0 rg BT 326.36 287.25 Td (T) Tj ET Q q 0 0 0 rg BT 331.77 287.25 Td (ouche LLP) Tj ET Q q 0 0 0 rg BT 374.82 287.25 Td (, has issued their attestation report on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (Company's internal control over financial reporting which is set forth below) Tj ET Q q 0 0 0 rg BT 334.80 275.25 Td (.) 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (Hartford, Connecticut) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 624.25 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 624.25 Td (e have audited the internal control over financial reporting of ) Tj ET Q q 0 0 0 rg BT 286.52 624.25 Td (The Hartford Financial Services Group, Inc. and its subsidiaries ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 612.25 Td (\(collectively) Tj ET Q q 0 0 0 rg BT 80.83 612.25 Td (, the "Company"\) as of December 31, 2013, based on the criteria established in ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 399.18 612.25 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 456.86 612.25 Td (ol-Integrated Framework ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 600.25 Td (\(1992\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.66 600.25 Td (issued by the Committee of Sponsoring Or) Tj ET Q q 0 0 0 rg BT 231.58 600.25 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 304.99 600.25 Td (T) Tj ET Q q 0 0 0 rg BT 310.74 600.25 Td (readway Commission. ) Tj ET Q q 0 0 0 rg BT 405.00 600.25 Td (The Company's management is responsible ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 588.25 Td (for maintaining ef) Tj ET Q q 0 0 0 rg BT 103.52 588.25 Td (fective internal control over financial reporting and for its assessment of the ef) Tj ET Q q 0 0 0 rg BT 417.11 588.25 Td (fectiveness of internal control over ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 576.25 Td (financial reporting, included in the accompanying Item 9A. Controls and Procedures. Our responsibility is to express an opinion on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 564.25 Td (Company's internal control over financial reporting based on our audit.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 547.25 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 547.25 Td (e conducted our audit in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 356.44 547.25 Td (Accounting Oversight Board \(United States\). ) Tj ET Q q 0 0 0 rg BT 542.05 547.25 Td (Those ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 535.25 Td (standards require that we plan and perform the audit to obtain reasonable assurance about whether ef) Tj ET Q q 0 0 0 rg BT 434.22 535.25 Td (fective internal control over ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 523.25 Td (financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 511.25 Td (financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating ef) Tj ET Q q 0 0 0 rg BT 509.23 511.25 Td (fectiveness of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 499.25 Td (internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. ) Tj ET Q q 0 0 0 rg BT 560.03 499.25 Td (W) Tj ET Q q 0 0 0 rg BT 568.67 499.25 Td (e ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 487.25 Td (believe that our audit provides a reasonable basis for our opinion.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 470.25 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 470.25 Td ( company's internal control over financial reporting is a process designed by) Tj ET Q q 0 0 0 rg BT 342.29 470.25 Td (, or under the supervision of, the company's principal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 458.25 Td (executive and principal financial of) Tj ET Q q 0 0 0 rg BT 172.92 458.25 Td (ficers, or persons performing similar functions, and ef) Tj ET Q q 0 0 0 rg BT 388.51 458.25 Td (fected by the company's board of directors, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 446.25 Td (management, and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the preparation of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 434.25 Td (consolidated financial statements for external purposes in accordance with generally accepted accounting principles. ) Tj ET Q q 0 0 0 rg BT 501.59 434.25 Td (A) Tj ET Q q 0 0 0 rg BT 508.26 434.25 Td ( company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 422.25 Td (internal control over financial reporting includes those policies and procedures that \(1\) pertain to the maintenance of records that, in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 410.25 Td (reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; \(2\) provide reasonable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 398.25 Td (assurance that transactions are recorded as necessary to permit preparation of consolidated financial statements in accordance with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 386.25 Td (generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 374.25 Td (authorizations of management and directors of the company; and \(3\) provide reasonable assurance regarding prevention or timely ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 362.25 Td (detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material ef) Tj ET Q q 0 0 0 rg BT 470.22 362.25 Td (fect on the consolidated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 350.25 Td (financial statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 333.25 Td (Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or improper ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 321.25 Td (management override of controls, material misstatements due to error or fraud may not be prevented or detected on a timely basis. ) Tj ET Q q 0 0 0 rg BT 556.88 321.25 Td (Also, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 309.25 Td (projections of any evaluation of the ef) Tj ET Q q 0 0 0 rg BT 183.49 309.25 Td (fectiveness of the internal control over financial reporting to future periods are subject to the risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 297.25 Td (that the controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 285.25 Td (procedures may deteriorate. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 268.25 Td (In our opinion, the Company maintained, in all material respects, ef) Tj ET Q q 0 0 0 rg BT 302.08 268.25 Td (fective internal control over financial reporting as of December 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 256.25 Td (2013, based on the criteria established in ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 197.01 256.25 Td (Internal Contr) Tj ET Q q 0 0 0 rg BT 254.69 256.25 Td (ol-Integrated Framework \(1992\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.28 256.25 Td (issued by the Committee of Sponsoring ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 244.25 Td (Or) Tj ET Q q 0 0 0 rg BT 41.87 244.25 Td (ganizations of the ) Tj ET Q q 0 0 0 rg BT 115.28 244.25 Td (T) Tj ET Q q 0 0 0 rg BT 121.04 244.25 Td (readway Commission. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.25 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 227.25 Td (e have also audited, in accordance with the standards of the Public Company ) Tj ET Q q 0 0 0 rg BT 348.94 227.25 Td (Accounting Oversight Board \(United States\), the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (consolidated financial statements and financial statement schedules) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.85 215.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.35 215.25 Td (as of and for the year ended December 31, 2013 of the Company and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.25 Td (our report, dated February 28, 2014, expressed an unqualified opinion on those consolidated financial statements and financial statement ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.25 Td (schedules.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 138.25 Td (DELOITTE ) Tj ET Q q 0 0 0 rg BT 82.32 138.25 Td (& ) Tj ET Q q 0 0 0 rg BT 92.41 138.25 Td (T) Tj ET Q q 0 0 0 rg BT 98.34 138.25 Td (OUCHE ) Tj ET Q q 0 0 0 rg BT 135.28 138.25 Td (LLP) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 126.25 Td (Hartford, Connecticut) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 114.25 Td (February28, 2014) Tj ET Q BT /F2 10.00 Tf ET endstream endobj 271 0 obj <> endobj 272 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (135) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Item 9B. ) Tj ET Q q 0 0 0 rg BT 85.50 713.25 Td (OTHER INFORMA) Tj ET Q q 0 0 0 rg BT 172.26 713.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.25 Td (None.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 682.05 Td (P) Tj ET Q q 0 0 0 rg BT 37.40 682.05 Td (AR) Tj ET Q q 0 0 0 rg BT 52.90 682.05 Td (T) Tj ET Q q 0 0 0 rg BT 60.04 682.05 Td ( ) Tj ET Q q 0 0 0 rg BT 62.79 682.05 Td (III) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 667.05 Td (Item 10. ) Tj ET Q q 0 0 0 rg BT 85.50 667.05 Td (DIRECT) Tj ET Q q 0 0 0 rg BT 124.22 667.05 Td (ORS, ) Tj ET Q q 0 0 0 rg BT 149.23 667.05 Td (AND EXECUTIVE OFFICERS ) Tj ET Q q 0 0 0 rg BT 287.86 667.05 Td (AND CORPORA) Tj ET Q q 0 0 0 rg BT 361.83 667.05 Td (TE GOVERNANCE OF) Tj ET Q q 0 0 0 rg BT 465.92 667.05 Td ( ) Tj ET Q q 0 0 0 rg BT 468.23 667.05 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 513.72 667.05 Td (TFORD) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 649.05 Td (Certain of the information called for by Item10 will be set forth in the definitive proxy statement for the 2014 annual meeting of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 637.05 Td (shareholders \(the Proxy Statement\) to be filed by ) Tj ET Q q 0 0 0 rg BT 239.03 637.05 Td (The Hartford with the Securities and Exchange Commission within 120days after ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 625.05 Td (the end of the fiscal year covered by this Form 10-K under the captions Nominee for Directorships, Section 16\(a\) Beneficial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 613.05 Td (Ownership Reporting Compliance, Corporate Governance and Board of Directors and is incorporated herein by reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 595.05 Td (The Company has adopted a Code of Ethics and Business Conduct, which is applicable to all employees of the Company) Tj ET Q q 0 0 0 rg BT 515.20 595.05 Td (, including the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 583.05 Td (principal executive of) Tj ET Q q 0 0 0 rg BT 118.50 583.05 Td (ficer) Tj ET Q q 0 0 0 rg BT 136.42 583.05 Td (, the principal financial of) Tj ET Q q 0 0 0 rg BT 239.81 583.05 Td (ficer and the principal accounting of) Tj ET Q q 0 0 0 rg BT 384.84 583.05 Td (ficer) Tj ET Q q 0 0 0 rg BT 402.60 583.05 Td (. ) Tj ET Q q 0 0 0 rg BT 407.42 583.05 Td (The Code of Ethics and Business Conduct ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 571.05 Td (is available on the investor relations section of the Company) Tj ET Q q 0 0 0 rg BT 276.16 571.05 Td (s website at: http://ir) Tj ET Q q 0 0 0 rg BT 357.54 571.05 Td (.thehartford.com. ) Tj ET Q q 0 0 0 rg BT 428.63 571.05 Td (Any waiver of, or material ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 559.05 Td (amendment to, the Code of Ethics and Business Conduct will be posted promptly to our web site in accordance with applicable NYSE ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 547.05 Td (and SEC rules.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 529.05 Td (Executive Officers of ) Tj ET Q q 0 0 0 rg BT 123.23 529.05 Td (The Hartford) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 511.05 Td (Information about the executive of) Tj ET Q q 0 0 0 rg BT 170.16 511.05 Td (ficers of ) Tj ET Q q 0 0 0 rg BT 205.51 511.05 Td (The Hartford who are also nominees for election as directors will be set forth in ) Tj ET Q q 0 0 0 rg BT 526.62 511.05 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 499.05 Td (Hartford) Tj ET Q q 0 0 0 rg BT 68.71 499.05 Td (s Proxy Statement. Set forth below is information about the other executive of) Tj ET Q q 0 0 0 rg BT 380.96 499.05 Td (ficers of the Company:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 460.55 87.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 119.00 460.55 27.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 146.00 460.55 435.00 -36.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 400.55 87.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 119.00 400.55 27.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 146.00 400.55 435.00 -32.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 325.55 87.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 119.00 325.55 27.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 146.00 325.55 435.00 -43.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 248.55 87.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 119.00 248.55 27.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 146.00 248.55 435.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 170.55 87.00 -33.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 119.00 170.55 27.00 -33.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 146.00 170.55 435.00 -33.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 460.54999999999995 m 119 460.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 119 460.54999999999995 m 146 460.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 146 460.54999999999995 m 581 460.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 424.54999999999995 m 119 424.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 119 424.54999999999995 m 146 424.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 146 424.54999999999995 m 581 424.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 400.54999999999995 m 119 400.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 119 400.54999999999995 m 146 400.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 146 400.54999999999995 m 581 400.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 368.54999999999995 m 119 368.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 119 368.54999999999995 m 146 368.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 146 368.54999999999995 m 581 368.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 325.54999999999995 m 119 325.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 119 325.54999999999995 m 146 325.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 146 325.54999999999995 m 581 325.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 282.54999999999995 m 119 282.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 119 282.54999999999995 m 146 282.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 146 282.54999999999995 m 581 282.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 248.54999999999995 m 119 248.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 119 248.54999999999995 m 146 248.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 146 248.54999999999995 m 581 248.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 223.54999999999995 m 119 223.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 119 223.54999999999995 m 146 223.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 146 223.54999999999995 m 581 223.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 170.54999999999995 m 119 170.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 119 170.54999999999995 m 146 170.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 146 170.54999999999995 m 581 170.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 137.54999999999995 m 119 137.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 101.54999999999995 m 119 101.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 119 137.54999999999995 m 146 137.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 119 101.54999999999995 m 146 101.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 146 137.54999999999995 m 581 137.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 146 101.54999999999995 m 581 101.54999999999995 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 262.05 479.00 Td (Position with The Hartford and Business Experience) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 63.75 465.00 Td (Name) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 124.50 465.00 Td (Age) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.65 465.00 Td (During the Past Five Years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 451.12 Td (Scott R. Lewis) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.00 451.12 Td (51) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 458.05 402.79 -9.09 re f /GS0 gs q 0 0 0 rg BT 148.50 451.12 Td (Senior Vice President and Controller \(May 2013-Present\); Senior Vice President and Chief Financial) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 446.05 407.18 -9.09 re f /GS0 gs q 0 0 0 rg BT 148.50 439.12 Td (Officer, Consumer Markets \(2009-May 2013\); Vice President, P&C Financial Reporting and Analysis) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 148.50 434.10 49.99 -9.09 re f /GS0 gs q 0 0 0 rg BT 148.50 427.17 Td (\(2003-2009\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 415.12 Td (Beth A. Bombara) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.00 415.12 Td (46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 415.12 Td (Executive Vice President, President of Talcott Resolution \(July 2012-Present\); Senior Vice President and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 405.12 Td (Controller \(June 2007-July 2012\); Vice President \(2004-June2007\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 391.12 Td (James E. Davey) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.00 391.12 Td (49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 391.12 Td (Executive ) Tj ET Q q 0 0 0 rg BT 190.80 391.12 Td (V) Tj ET Q q 0 0 0 rg BT 197.42 391.12 Td (ice President and President of ) Tj ET Q q 0 0 0 rg BT 318.60 391.12 Td (The Hartford Mutual Funds \(2010-Present\); Executive ) Tj ET Q q 0 0 0 rg BT 538.92 391.12 Td (V) Tj ET Q q 0 0 0 rg BT 545.54 391.12 Td (ice ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 381.12 Td (President, Retirement Division \(2009-2010\); Executive ) Tj ET Q q 0 0 0 rg BT 372.16 381.12 Td (V) Tj ET Q q 0 0 0 rg BT 378.78 381.12 Td (ice President, Employer Markets Group ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 371.17 Td (\(2008-2009\); Senior ) Tj ET Q q 0 0 0 rg BT 232.20 371.17 Td (V) Tj ET Q q 0 0 0 rg BT 238.82 371.17 Td (ice President, Retirement Plans \(2006-2008\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 359.12 Td (Douglas Elliot) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.00 359.12 Td (53) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 359.12 Td (Executive Vice President and President of Commercial Markets \(April2011-Present\); President and Chief) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 349.12 Td (Executive Officer, HSB Group \(July2007-March2011\); President and Chief Operating Officer, HSB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 339.12 Td (Group \(January2007-June 2007\); Senior Advisor, Aspen Insurance Holdings \(2006\); Chief Executive) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 329.12 Td (Officer of General Commercial and Personal Lines, St. Paul Travelers Companies \(2004-2007\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 316.12 Td (Martha Gervasi) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.00 316.12 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 316.12 Td (Executive ) Tj ET Q q 0 0 0 rg BT 190.80 316.12 Td (V) Tj ET Q q 0 0 0 rg BT 197.42 316.12 Td (ice President, Human Resources \(May 2012-present\); Senior ) Tj ET Q q 0 0 0 rg BT 442.73 316.12 Td (V) Tj ET Q q 0 0 0 rg BT 449.35 316.12 Td (ice President, Human ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 306.12 Td (Resources \(November 2010-May 2012\); General Manager Human Resources, SABIC Innovative Plastics ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 296.12 Td (& SABIC ) Tj ET Q q 0 0 0 rg BT 190.18 296.12 Td (Americas \(January 2010-October 2010\); Global Human Resource Leader) Tj ET Q q 0 0 0 rg BT 483.29 296.12 Td (, SABIC Innovative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 286.12 Td (Plastics \(September 2007-January 2010\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 273.12 Td (Brion Johnson) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.00 273.12 Td (54) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 273.12 Td (Executive ) Tj ET Q q 0 0 0 rg BT 190.80 273.12 Td (V) Tj ET Q q 0 0 0 rg BT 197.42 273.12 Td (ice President, Chief Investment Of) Tj ET Q q 0 0 0 rg BT 335.81 273.12 Td (ficer \(May 2012-Present\); Chief Financial Of) Tj ET Q q 0 0 0 rg BT 516.97 273.12 Td (ficer) Tj ET Q q 0 0 0 rg BT 534.88 273.12 Td (, Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 263.12 Td (Investment Management Company [1] \(October 201) Tj ET Q q 0 0 0 rg BT 358.35 263.12 Td (1-May 2012\); Managing Member) Tj ET Q q 0 0 0 rg BT 492.64 263.12 Td (, Shoreline ) Tj ET Q q 0 0 0 rg BT 537.91 263.12 Td (Arts & ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 253.12 Td (Publishing, LLC \(2009-2010\); Executive ) Tj ET Q q 0 0 0 rg BT 315.24 253.12 Td (V) Tj ET Q q 0 0 0 rg BT 321.86 253.12 Td (ice President, PPM ) Tj ET Q q 0 0 0 rg BT 400.20 253.12 Td (America, Inc. \(2001-2008\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 239.12 Td (Alan J. Kreczko) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.00 239.12 Td (62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 239.12 Td (Executive Vice President and General Counsel \(June2007-Present\); Senior Vice President and Deputy) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 229.12 Td (General Counsel \(2002-June2007\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 214.12 Td (Andr A. Napoli) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.00 214.12 Td (49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 214.12 Td (Executive Vice President and President of Consumer Markets \(August2010-Present\); Executive Vice) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 204.12 Td (President and Chief Administrative Officer, CUNA Mutual Group \(July2009-August2010 \); Senior Vice) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 194.12 Td (President, Consumer Products, CUNA Mutual Group \(August2007-July2009\); Vice President, Standard) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 184.12 Td (Auto Product and Pricing, Nationwide \(October2006-August2007\); Vice President, Personal Lines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 174.12 Td (Pricing and Research, Nationwide \(July2005-October2006\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 161.12 Td (Robert Rupp) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.00 161.12 Td (61) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 161.12 Td (Executive Vice President and Chief Risk Officer \(October2011-Present\); Executive Vice President, Head) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 151.12 Td (of Enterprise-Wide Market Risk, BONY Mellon \(September 2008-October2011\); Managing Director,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 141.12 Td (Risk Management, JP Morgan Chase \(2004-2008\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 128.12 Td (Christopher J. Swift) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.00 128.12 Td (53) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 128.12 Td (Executive Vice President and Chief Financial Officer \(March2010-Present\); Vice Chairman and CFO,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 118.12 Td (American Life Insurance Company \(March 2009-March2010\); Vice President and CFO, AIGs Global) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.50 108.12 Td (Life Insurance and Retirement Services Division \(July2005-March2009\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 85.25 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 85.25 Td (Denotes a subsidiary of The Hartfor) Tj ET Q q 0 0 0 rg BT 179.92 85.25 Td (d.) Tj ET Q endstream endobj 273 0 obj <> endobj 274 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (136) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Item 1) Tj ET Q q 0 0 0 rg BT 58.44 713.25 Td (1. ) Tj ET Q q 0 0 0 rg BT 85.50 713.25 Td (EXECUTIVE COMPENSA) Tj ET Q q 0 0 0 rg BT 203.94 713.25 Td (TION) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The information called for by Item1) Tj ET Q q 0 0 0 rg BT 177.75 695.25 Td (1 will be set forth in the Proxy Statement under the captions Compensation Discussion and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (Analysis, Executive Compensation, Director Compensation, Report of the Compensation and Management Development ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (Committee, and Compensation and Management Development Committee Interlocks and Insider Participation and is incorporated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (herein by reference.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (Item 12. ) Tj ET Q q 0 0 0 rg BT 85.50 641.25 Td (SECURITY) Tj ET Q q 0 0 0 rg BT 136.81 641.25 Td ( OWNERSHIP) Tj ET Q q 0 0 0 rg BT 200.99 641.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 217.00 641.25 Td ( CER) Tj ET Q q 0 0 0 rg BT 240.27 641.25 Td (T) Tj ET Q q 0 0 0 rg BT 246.19 641.25 Td (AIN BENEFICIAL) Tj ET Q q 0 0 0 rg BT 328.71 641.25 Td ( OWNERS ) Tj ET Q q 0 0 0 rg BT 377.61 641.25 Td (AND MANAGEMENT) Tj ET Q q 0 0 0 rg BT 477.15 641.25 Td ( ) Tj ET Q q 0 0 0 rg BT 479.10 641.25 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 530.30 641.25 Td (TED ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 629.25 Td (ST) Tj ET Q q 0 0 0 rg BT 97.55 629.25 Td (OCKHOLDER MA) Tj ET Q q 0 0 0 rg BT 182.09 629.25 Td (TTERS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (Certain of the information called for by Item12 will be set forth in the Proxy Statement under the caption Information on Stock ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (Ownership and is incorporated herein by reference.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (Equity Compensation Plan Information) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (The following table provides information as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.18 563.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.76 563.25 Td ( about the securities authorized for issuance under the Company) Tj ET Q q 0 0 0 rg BT 558.85 563.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (equity compensation plans. ) Tj ET Q q 0 0 0 rg BT 142.96 551.25 Td (The Company maintains ) Tj ET Q q 0 0 0 rg BT 243.60 551.25 Td (The Hartford Incentive Stock Plan \(the 2000 Stock Plan\), ) Tj ET Q q 0 0 0 rg BT 484.46 551.25 Td (The Hartford 2005 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (Incentive Stock Plan \(the 2005 Stock Plan\), ) Tj ET Q q 0 0 0 rg BT 217.39 539.25 Td (The Hartford 2010 Incentive Stock Plan \(the 2010 Stock Plan\), and ) Tj ET Q q 0 0 0 rg BT 497.69 539.25 Td (The Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (Employee Stock Purchase Plan \(the ESPP\). On May19, 2010, the shareholders of the Company approved the 2010 Stock Plan, which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (superseded the 2005 Stock Plan. Pursuant to the provisions of the 2010 Stock Plan, no additional shares may be issued from the 2005 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (Stock Plan. ) Tj ET Q q 0 0 0 rg BT 79.38 503.25 Td (T) Tj ET Q q 0 0 0 rg BT 84.79 503.25 Td (o the extent that any awards under the 2005 Stock Plan are forfeited, terminated, expire unexercised or are settled in cash in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (lieu of stock, the shares subject to such awards \(or the relevant portion thereof\) shall be available for award under the 2010 Stock Plan ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (and such shares shall be added to the total number of shares available under the 2010 Stock Plan. See Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.60 479.25 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.60 479.25 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.93 479.25 Td (Stock Compensation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.25 Td (Plans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.17 467.25 Td ( of Notes to Consolidated Financial Statements for a description of the 2010 Stock Plan and the ESPP) Tj ET Q q 0 0 0 rg BT 458.95 467.25 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 382.75 184.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.00 382.75 99.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 382.75 86.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 382.75 162.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 563.00 382.75 18.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 332.75 184.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.00 332.75 99.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 315.00 332.75 86.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 332.75 162.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 563.00 332.75 18.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 436.75 m 315 436.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315 436.75 m 401 436.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 436.75 m 563 436.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 436.75 m 581 436.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 382.75 m 216 382.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 382.75 m 315 382.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315 382.75 m 401 382.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 382.75 m 563 382.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 382.75 m 581 382.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 332.75 m 216 332.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 332.75 m 315 332.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 315 332.75 m 401 332.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 332.75 m 563 332.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 563 332.75 m 581 332.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 318.75 m 216 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 216 318.75 m 315 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 315 318.75 m 401 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 318.75 m 563 318.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 563 318.75 m 581 318.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 441.32 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 259.15 441.43 Td (\(a\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 351.35 441.43 Td (\(b\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 484.95 441.43 Td (\(c\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 218.55 427.43 Td ( Number) Tj ET Q q 0 0 0 rg BT 256.42 427.43 Td ( of Securities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 226.75 417.43 Td (to be Issued Upon ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 241.60 407.43 Td (Exer) Tj ET Q q 0 0 0 rg BT 261.97 407.43 Td (cise of) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 218.85 397.43 Td (Outstanding Options,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 219.95 387.43 Td (W) Tj ET Q q 0 0 0 rg BT 229.40 387.43 Td (arrants and Rights) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 318.85 427.43 Td (W) Tj ET Q q 0 0 0 rg BT 328.30 427.43 Td (eighted-average) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.75 417.43 Td (Exer) Tj ET Q q 0 0 0 rg BT 342.12 417.43 Td (cise Price of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 330.80 407.43 Td (Outstanding) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 317.55 397.43 Td (Options, ) Tj ET Q q 0 0 0 rg BT 356.27 397.43 Td (W) Tj ET Q q 0 0 0 rg BT 365.72 397.43 Td (arrants) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 334.25 387.43 Td (and Rights) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.70 427.43 Td (Number) Tj ET Q q 0 0 0 rg BT 456.07 427.43 Td ( of Securities Remaining) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.80 417.43 Td (A) Tj ET Q q 0 0 0 rg BT 419.28 417.43 Td (vailable for) Tj ET Q q 0 0 0 rg BT 467.70 417.43 Td ( Futur) Tj ET Q q 0 0 0 rg BT 495.02 417.43 Td (e Issuance Under) Tj ET Q q 0 0 0 rg BT 568.18 417.43 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.00 407.43 Td (Equity Compensation Plans) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.40 397.43 Td (\(Excluding Securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.23 397.43 Td ( ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.73 397.43 Td (Reflected in) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.50 387.43 Td (Column \(a\)\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 372.42 Td (Equity compensation plans approved by) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 362.42 Td (stockholders) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.15 362.42 Td (4,533,869) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.50 362.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.65 362.42 Td (36.34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 362.42 Td (13,619,296) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.50 362.42 Td ([1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 347.42 Td (Equity compensation plans not approved by) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 337.42 Td (stockholders) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 337.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.15 337.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.15 337.42 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 323.43 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 271.15 323.43 Td (4,533,869) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 317.50 323.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 374.65 323.43 Td (36.34) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.15 323.43 Td (13,619,296) Tj ET Q BT /F2 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 301.25 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 301.25 Td (Of these shar) Tj ET Q q 0 0 0 rg BT 102.46 301.25 Td (es, 5,476,032 shar) Tj ET Q q 0 0 0 rg BT 175.70 301.25 Td (es r) Tj ET Q q 0 0 0 rg BT 190.05 301.25 Td (emain available for pur) Tj ET Q q 0 0 0 rg BT 284.39 301.25 Td (chase under the ESPP) Tj ET Q q 0 0 0 rg BT 372.24 301.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 283.25 Td (Item 13. ) Tj ET Q q 0 0 0 rg BT 85.50 283.25 Td (CER) Tj ET Q q 0 0 0 rg BT 106.26 283.25 Td (T) Tj ET Q q 0 0 0 rg BT 112.19 283.25 Td (AIN RELA) Tj ET Q q 0 0 0 rg BT 160.07 283.25 Td (TIONSHIPS ) Tj ET Q q 0 0 0 rg BT 216.48 283.25 Td (AND RELA) Tj ET Q q 0 0 0 rg BT 267.68 283.25 Td (TED ) Tj ET Q q 0 0 0 rg BT 290.56 283.25 Td (TRANSACTIONS, ) Tj ET Q q 0 0 0 rg BT 374.47 283.25 Td (AND DIRECT) Tj ET Q q 0 0 0 rg BT 437.36 283.25 Td (OR INDEPENDENCE) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 265.25 Td (Any information called for by Item13 will be set forth in the Proxy Statement under the caption Corporate Governance and Board of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 253.25 Td (Directors and is incorporated herein by reference.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 235.25 Td (Item 14. ) Tj ET Q q 0 0 0 rg BT 85.50 235.25 Td (PRINCIP) Tj ET Q q 0 0 0 rg BT 126.42 235.25 Td (AL) Tj ET Q q 0 0 0 rg BT 139.76 235.25 Td ( ) Tj ET Q q 0 0 0 rg BT 141.71 235.25 Td (ACCOUNTING FEES ) Tj ET Q q 0 0 0 rg BT 240.62 235.25 Td (AND SER) Tj ET Q q 0 0 0 rg BT 283.88 235.25 Td (VICES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 217.25 Td (The information called for by Item14 will be set forth in the Proxy Statement under the caption Report of the ) Tj ET Q q 0 0 0 rg BT 476.10 217.25 Td (Audit Committee and is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 205.25 Td (incorporated herein by reference.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 186.05 Td (Part IV) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 168.05 Td (Item 15. ) Tj ET Q q 0 0 0 rg BT 85.50 168.05 Td (EXHIBITS, FINANCIAL) Tj ET Q q 0 0 0 rg BT 194.97 168.05 Td ( ST) Tj ET Q q 0 0 0 rg BT 208.96 168.05 Td (A) Tj ET Q q 0 0 0 rg BT 215.44 168.05 Td (TEMENT) Tj ET Q q 0 0 0 rg BT 258.60 168.05 Td ( SCHEDULES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 147.05 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 85.50 147.05 Td (Documents ) Tj ET Q q 0 0 0 rg BT 133.55 147.05 Td (filed ) Tj ET Q q 0 0 0 rg BT 154.37 147.05 Td (as ) Tj ET Q q 0 0 0 rg BT 165.20 147.05 Td (a ) Tj ET Q q 0 0 0 rg BT 172.14 147.05 Td (part ) Tj ET Q q 0 0 0 rg BT 190.19 147.05 Td (of ) Tj ET Q q 0 0 0 rg BT 201.02 147.05 Td (this ) Tj ET Q q 0 0 0 rg BT 217.97 147.05 Td (report:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 126.05 Td (\(1\) ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 126.05 Td (Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.34 126.05 Td ( See Index to Consolidated Financial Statements and Schedules elsewhere herein.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 105.05 Td (\(2\) ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 105.05 Td (Consolidated Financial Statement Schedules.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.18 105.05 Td ( See Index to Consolidated Financial Statement and Schedules elsewhere ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 93.05 Td (herein.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 72.05 Td (\(3\) ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 85.50 72.05 Td (Exhibits.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 123.57 72.05 Td ( See ExhibitIndex elsewhere herein.) Tj ET Q endstream endobj 275 0 obj <> endobj 276 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.05 20.10 Td (F-1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 703.25 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 703.25 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 703.25 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 703.25 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 703.25 Td (, INC. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 132.80 691.25 Td (INDEX ) Tj ET Q q 0 0 0 rg BT 167.35 691.25 Td (T) Tj ET Q q 0 0 0 rg BT 173.84 691.25 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 243.94 691.25 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 323.12 691.25 Td ( ST) Tj ET Q q 0 0 0 rg BT 337.11 691.25 Td (A) Tj ET Q q 0 0 0 rg BT 343.59 691.25 Td (TEMENTS ) Tj ET Q q 0 0 0 rg BT 394.44 691.25 Td (AND SCHEDULES) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 666.75 m 478 666.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 666.75 m 544 666.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 671.32 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.95 671.43 Td (Page\(s\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 657.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 623.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 589.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 555.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 521.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 488.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 462.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 440.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 416.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 390.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 366.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 342.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.50 318.32 Td () Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 34.5 655.9833984375 m 268.3427734375 655.9833984375 l s q 0 0 1 rg BT 34.50 657.32 Td (Report of Independent Registered Public ) Tj ET Q q 0 0 1 rg BT 199.74 657.32 Td (Accounting Firm) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 526.6 655.9833984375 m 540.4916015625 655.9833984375 l s q 0 0 1 rg BT 526.60 657.32 Td (F-2) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 34.50 633.32 Td (Consolidated Statements of Operations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 623.32 Td (For the ) Tj ET Q q 0 0 0 rg BT 65.24 623.32 Td (Y) Tj ET Q q 0 0 0 rg BT 71.46 623.32 Td (ears Ended December31, 2013, 2012 and 201) Tj ET Q q 0 0 0 rg BT 255.75 623.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 526.6 622.0833984375 m 540.4916015625 622.0833984375 l s q 0 0 1 rg BT 526.60 623.42 Td (F-3) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 34.5 597.9833984375 m 282.7861328125 597.9833984375 l s q 0 0 1 rg BT 34.50 599.32 Td (Consolidated Statements of Comprehensive Income \(Loss\) ) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 34.5 587.9833984375 m 255.9404296875 587.9833984375 l s q 0 0 1 rg BT 34.50 589.32 Td (For the ) Tj ET Q q 0 0 1 rg BT 65.24 589.32 Td (Y) Tj ET Q q 0 0 1 rg BT 71.46 589.32 Td (ears Ended December31, 2013, 2012 and 201) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 255.9404296875 587.9833984375 m 260.7548828125 587.9833984375 l s q 0 0 1 rg BT 255.75 589.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 526.6 588.0833984375 m 540.4916015625 588.0833984375 l s q 0 0 1 rg BT 526.60 589.42 Td (F-4) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 34.5 563.9833984375 m 163.083984375 563.9833984375 l s q 0 0 1 rg BT 34.50 565.32 Td (Consolidated Balance Sheets ) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 34.5 553.9833984375 m 176.9658203125 553.9833984375 l s q 0 0 1 rg BT 34.50 555.32 Td (As of December31, 2013 and 2012) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 526.6 554.0833984375 m 540.4916015625 554.0833984375 l s q 0 0 1 rg BT 526.60 555.42 Td (F-5) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 34.5 529.9833984375 m 290.671875 529.9833984375 l s q 0 0 1 rg BT 34.50 531.32 Td (Consolidated Statements of Changes in Stockholders) Tj ET Q q 0 0 1 rg BT 249.01 531.32 Td ( Equity ) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 34.5 519.9833984375 m 260.7548828125 519.9833984375 l s q 0 0 1 rg BT 34.50 521.32 Td (For the ) Tj ET Q q 0 0 1 rg BT 65.24 521.32 Td (Y) Tj ET Q q 0 0 1 rg BT 71.46 521.32 Td (ears Ended December31, 2013, 2012 and 201) Tj ET Q q 0 0 1 rg BT 255.75 521.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 526.6 520.0833984375 m 540.4916015625 520.0833984375 l s q 0 0 1 rg BT 526.60 521.42 Td (F-6) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 34.5 496.9833984375 m 206.4384765625 496.9833984375 l s q 0 0 1 rg BT 34.50 498.32 Td (Consolidated Statements of Cash Flows ) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 34.5 486.9833984375 m 260.7548828125 486.9833984375 l s q 0 0 1 rg BT 34.50 488.32 Td (For the ) Tj ET Q q 0 0 1 rg BT 65.24 488.32 Td (Y) Tj ET Q q 0 0 1 rg BT 71.46 488.32 Td (ears Ended December31, 2013, 2012 and 201) Tj ET Q q 0 0 1 rg BT 255.75 488.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 526.6 487.0833984375 m 540.4916015625 487.0833984375 l s q 0 0 1 rg BT 526.60 488.42 Td (F-7) Tj ET Q BT /F2 10.00 Tf ET 0 0 1 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 34.5 460.9833984375 m 209.4755859375 460.9833984375 l s q 0 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0.50 w 0 i [] 0 d 0 J 0 j 3 M 468.5 274.5 m 533.5 274.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32.5 246.5 m 338.5 246.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338.5 246.5 m 403.5 246.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 246.5 m 468.5 246.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468.5 246.5 m 533.5 246.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32.5 232.5 m 338.5 232.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 232.5 m 403.5 232.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 232.5 m 468.5 232.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 232.5 m 533.5 232.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32.5 218.5 m 338.5 218.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 232.5 m 403.5 232.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338.5 218.5 m 403.5 218.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 218.5 m 468.5 218.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 232.5 m 533.5 232.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468.5 218.5 m 533.5 218.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32.5 204.5 m 338.5 204.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 338.5 218.5 m 403.5 218.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 204.5 m 403.5 204.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 403.5 218.5 m 468.5 218.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468.5 218.5 m 533.5 218.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 204.5 m 468.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 204.5 m 533.5 204.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32.5 115.5 m 338.5 115.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 115.5 m 403.5 115.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 115.5 m 468.5 115.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 115.5 m 533.5 115.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32.5 101.5 m 338.5 101.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338.5 101.5 m 403.5 101.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 101.5 m 468.5 101.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468.5 101.5 m 533.5 101.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 728.07 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.15 727.95 Td (For the years ended December 31,) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 35.00 712.95 Td (\(In millions, except for per share data\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 361.50 712.95 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 426.50 712.95 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 491.70 712.95 Td (2011) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 35.00 699.18 Td (Revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.00 699.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.00 699.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.00 699.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 685.07 Td (Earned premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.00 685.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.15 685.07 Td (13,226) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.00 685.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 685.07 Td (13,631) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.00 685.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 685.07 Td (14,088) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 671.07 Td (Fee income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 671.07 Td (2,805) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 671.07 Td (4,386) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 671.07 Td (4,700) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 657.07 Td (Net investment income:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.00 643.07 Td (Securities available-for-sale and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 643.07 Td (3,362) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 643.07 Td (4,227) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 643.07 Td (4,263) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.00 629.07 Td (Equity securities, trading) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 629.07 Td (6,061) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 629.07 Td (4,364) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.80 629.12 Td (\(1,345) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.65 629.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 615.07 Td (Total net investment income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 615.07 Td (9,423) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 615.07 Td (8,591) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 615.07 Td (2,918) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 601.07 Td (Net realized capital gains \(losses\):) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.00 601.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.00 601.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.00 601.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.00 587.07 Td (Total other-than-temporary impairment \(OTTI\) losses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.30 587.12 Td (\(93) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.65 587.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.30 587.12 Td (\(389) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.65 587.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.30 587.12 Td (\(263) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.65 587.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.00 573.07 Td (OTTI losses recognized in other comprehensive income \(OCI\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.65 573.07 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.65 573.07 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.65 573.07 Td (89) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.00 559.07 Td (Net OTTI losses recognized in earnings) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.30 559.12 Td (\(73) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.65 559.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.30 559.12 Td (\(349) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.65 559.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.30 559.12 Td (\(174) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.65 559.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.00 545.07 Td (Net realized capital gains on business dispositions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 545.07 Td (1,575) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.65 545.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.65 545.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.00 531.07 Td (Net realized capital gains \(losses\), excluding net OTTI losses recognized) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.00 521.07 Td (in earnings) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.30 521.22 Td (\(995) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.65 521.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.30 521.22 Td (\(395) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.65 521.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.30 521.22 Td (\(52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.65 521.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 507.07 Td (Total net realized capital gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.65 507.07 Td (507) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.30 507.12 Td (\(744) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.65 507.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.30 507.12 Td (\(226) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.65 507.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 493.07 Td (Other revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.65 493.07 Td (275) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.65 493.07 Td (258) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.65 493.07 Td (253) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 479.18 Td (Total revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.15 479.18 Td (26,236) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.15 479.18 Td (26,122) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 502.15 479.18 Td (21,733) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 35.00 465.18 Td (Benefits, losses and expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.00 465.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.00 465.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.00 465.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 451.07 Td (Benefits, losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.15 451.07 Td (10,948) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 451.07 Td (13,248) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 451.07 Td (14,627) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 436.17 Td (Benefits, losses and loss adjustment expenses returns credited on) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 426.17 Td (international variable annuities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 426.17 Td (6,060) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 426.17 Td (4,363) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.80 426.22 Td (\(1,345) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.65 426.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 411.17 Td (Amortization of deferred policy acquisition costs and present value of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 401.17 Td (future profits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 401.17 Td (2,701) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 401.17 Td (1,988) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 401.17 Td (2,444) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 387.07 Td (Insurance operating costs and other expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 387.07 Td (4,280) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 387.07 Td (5,204) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 387.07 Td (5,269) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 373.07 Td (Loss on extinguishment of debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.65 373.07 Td (213) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.65 373.07 Td (910) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.65 373.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 359.07 Td (Reinsurance loss on disposition, including reduction in goodwill of $156) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 349.07 Td (and $342, respectively) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 349.17 Td (1,574) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.65 349.17 Td (533) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.65 349.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 335.07 Td (Interest expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.65 335.07 Td (397) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.65 335.07 Td (457) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.65 335.07 Td (508) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 321.07 Td (Goodwill impairment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.65 321.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.65 321.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.65 321.07 Td (30) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 307.18 Td (Total benefits, losses and expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.15 307.18 Td (26,173) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.15 307.18 Td (26,703) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 502.15 307.18 Td (21,533) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 293.18 Td (Income \(loss\) from continuing operations before income taxes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 389.65 293.18 Td (63) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 446.30 293.23 Td (\(581) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.65 293.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.65 293.18 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 279.07 Td (Income tax expense \(benefit\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.30 279.12 Td (\(247) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.65 279.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.30 279.12 Td (\(481) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.65 279.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.30 279.12 Td (\(373) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.65 279.07 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 265.18 Td (Income \(loss\) from continuing operations, net of tax) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.65 265.18 Td (310) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 446.30 265.23 Td (\(100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.65 265.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.65 265.18 Td (573) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 251.07 Td (Income \(loss\)from discontinued operations, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.30 251.12 Td (\(134) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.65 251.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.65 251.07 Td (62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.65 251.07 Td (139) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 237.18 Td (Net income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 341.00 237.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.65 237.18 Td (176) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 406.00 237.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 451.30 237.23 Td (\(38) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.65 237.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.00 237.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.65 237.18 Td (712) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 223.07 Td (Preferred stock dividends) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.65 223.07 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.65 223.07 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.65 223.07 Td (42) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 209.18 Td (Net income \(loss\) available to common shareholders) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.65 209.18 Td (166) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 451.30 209.23 Td (\(80) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.65 209.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.65 209.18 Td (670) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 35.00 195.23 Td (Income from continuing operations, net of tax, available to common) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 35.00 185.23 Td (shareholders per common share) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 172.23 Td (Basic) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 341.00 172.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 382.15 172.23 Td (0.67) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 406.00 172.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 443.80 172.28 Td (\(0.32) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.65 172.23 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.00 172.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.15 172.23 Td (1.19) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 53.00 159.23 Td (Diluted) Tj ET Q BT /F3 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56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 475.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 451.50 437.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 451.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 451.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 427.50 437.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 427.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 427.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 403.50 437.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 403.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 403.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 379.50 437.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 379.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 379.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 355.50 437.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 355.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 355.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 331.50 437.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 331.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 331.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 307.50 437.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 307.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 307.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 283.50 437.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 283.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 283.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 259.50 437.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 259.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 259.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 235.50 437.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 235.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 235.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 197.50 437.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 197.50 56.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 197.50 56.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 164.50 437.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 164.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 164.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 140.50 437.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 140.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 140.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 116.50 437.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 116.50 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 116.50 56.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 705.5 m 525 705.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 705.5 m 581 705.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 690.5 m 469 690.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 690.5 m 525 690.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 690.5 m 581 690.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 511.5 m 469 511.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 511.5 m 525 511.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 511.5 m 581 511.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 391.5 m 469 391.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 391.5 m 525 391.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 391.5 m 581 391.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 259.5 m 469 259.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 259.5 m 525 259.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 259.5 m 581 259.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 128.5 m 469 128.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 128.5 m 525 128.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 128.5 m 581 128.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 116.5 m 469 116.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 116.5 m 525 116.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 116.5 m 581 116.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 116.5 m 469 116.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 104.5 m 469 104.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 116.5 m 525 116.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 104.5 m 525 104.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 116.5 m 581 116.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 104.5 m 581 104.5 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 709.96 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.30 709.95 Td (As of December 31,) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 34.50 694.95 Td (\(In millions, except for share and per share data\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.50 694.95 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.50 694.95 Td (2012) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.50 681.23 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 669.12 Td (Investments:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 657.07 Td (Fixed maturities, available-for-sale, at fair value \(amortized cost of $60,641 and $79,747\) \(includes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 647.07 Td (variable interest entity assets, at fair value, of $31 and $89\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 647.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 647.17 Td (62,357) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 647.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 647.17 Td (85,922) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 633.07 Td (Fixed maturities, at fair value using the fair value option \(includes variable interest entity assets, at fair) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 623.07 Td (value, of $161 and $163\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 623.17 Td (844) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 623.17 Td (1,087) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 609.12 Td (Equity securities, trading, at fair value \(cost of $14,504 and $26,820\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 609.12 Td (19,745) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 609.12 Td (28,933) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 597.12 Td (Equity securities, available-for-sale, at fair value \(cost of $850 and $866\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 597.12 Td (868) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 597.12 Td (890) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 585.12 Td (Mortgage loans \(net of allowances for loan losses of $67 and $68\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 585.12 Td (5,598) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 585.12 Td (6,711) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 573.12 Td (Policy loans, at outstanding balance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 573.12 Td (1,420) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 573.12 Td (1,997) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 561.07 Td (Limited partnerships and other alternative investments \(includes variable interest entity assets of $4 and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 551.07 Td ($6\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 551.17 Td (3,040) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 551.17 Td (3,015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 537.12 Td (Other investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 537.12 Td (521) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 537.12 Td (1,114) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 525.07 Td (Short-term investments \(includes variable interest entity assets, at fair value, of $3 as of December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 515.07 Td (2013\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 516.17 Td (4,008) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 516.17 Td (4,581) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 502.12 Td (Total investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 502.12 Td (98,401) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.65 502.12 Td (134,250) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 490.12 Td (Cash) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 490.12 Td (1,428) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 490.12 Td (2,421) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 478.12 Td (Premiums receivable and agents balances, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 478.12 Td (3,465) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 478.12 Td (3,542) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 466.12 Td (Reinsurance recoverables, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 466.12 Td (23,330) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 466.12 Td (4,666) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 454.12 Td (Deferred policy acquisition costs and present value of future profits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 454.12 Td (2,161) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 454.12 Td (5,725) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 442.12 Td (Deferred income taxes, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 442.12 Td (3,840) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 442.12 Td (1,942) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 430.12 Td (Goodwill) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 430.12 Td (498) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 430.12 Td (654) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 418.12 Td (Property and equipment, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 418.12 Td (877) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 418.12 Td (977) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 406.12 Td (Other assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 406.12 Td (2,998) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 406.12 Td (2,767) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 394.12 Td (Separate account assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 394.12 Td (140,886) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.65 394.12 Td (141,569) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 64.50 382.23 Td (Total assets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 382.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.65 382.23 Td (277,884) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 382.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.65 382.23 Td (298,513) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.50 370.23 Td (Liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 358.12 Td (Reserve for future policy benefits and unpaid losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 358.12 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 358.12 Td (41,373) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 358.12 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 358.12 Td (40,992) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 346.12 Td (Other policyholder funds and benefits payable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 346.12 Td (39,029) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 346.12 Td (41,979) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 334.12 Td (Other policyholder funds and benefits payable international variable annuities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 334.12 Td (19,734) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 334.12 Td (28,922) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 322.12 Td (Unearned premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 322.12 Td (5,225) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 322.12 Td (5,145) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 310.12 Td (Short-term debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 310.12 Td (438) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 310.12 Td (320) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 298.12 Td (Long-term debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 298.12 Td (6,106) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 298.12 Td (6,806) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 286.12 Td (Consumer notes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 286.12 Td (84) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 286.12 Td (161) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 274.12 Td (Other liabilities \(includes variable interest entity liabilities of $33 and $89\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 274.12 Td (6,104) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 274.12 Td (10,172) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 262.12 Td (Separate account liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 262.12 Td (140,886) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.65 262.12 Td (141,569) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 64.50 250.23 Td (Total liabilities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.65 250.23 Td (258,979) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.65 250.23 Td (276,066) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 238.23 Td (Commitments and Contingencies \(Note 13\)) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.50 226.18 Td (Stockholders Equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.50 226.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.50 226.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 212.07 Td (Preferred stock, $0.01 par value 50,000,000 shares authorized, 575,000 shares issued as of December) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 202.07 Td (31, 2012, liquidation preference $1,000 per share) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 202.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 202.17 Td (556) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 188.07 Td (Common stock, $0.01 par value 1,500,000,000 shares authorized, 490,923,222 and 469,744,822) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 178.12 Td (shares issued) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.15 181.17 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 181.17 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 167.12 Td (Additional paid-in capital) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 167.12 Td (9,894) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 167.12 Td (10,038) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 155.12 Td (Retained earnings) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 155.12 Td (10,683) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 155.12 Td (10,745) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 143.12 Td (Treasury stock, at cost 37,632,782 and 33,439,044 shares) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.30 143.12 Td (\(1,598) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 143.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.30 143.12 Td (\(1,740) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 143.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 131.12 Td (Accumulated other comprehensive income \(loss\), net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.80 131.12 Td (\(79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 131.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 131.12 Td (2,843) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 76.50 119.23 Td (Total stockholders equity) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.65 119.23 Td (18,905) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.65 119.23 Td (22,447) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 107.23 Td (Total liabilities and stockholders equity) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 107.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.65 107.23 Td (277,884) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 107.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.65 107.23 Td (298,513) Tj ET Q BT /F2 10.00 Tf ET BT /F5 9.00 Tf ET q 0 0 0 rg BT 215.95 84.20 Td (See Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 750.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 750.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 750.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 750.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 750.00 Td (, INC.) 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BT 510.80 459.22 Td (\(176) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 459.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.80 459.17 Td (\(178) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 459.17 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 445.18 Td (Retained Earnings, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.60 445.18 Td (10,683) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.60 445.18 Td (10,745) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.60 445.18 Td (11,001) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 430.17 Td (Treasury Stock, at cost, beginning of period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.30 430.22 Td (\(1,740) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 430.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.30 430.22 Td (\(1,718) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 430.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.30 430.17 Td (\(1,774) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 430.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 415.17 Td (Treasury stock acquired) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.80 415.22 Td (\(600) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 415.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.80 415.22 Td (\(149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 415.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.80 415.17 Td (\(51) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 415.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 400.17 Td (Issuance of shares under incentive and stock compensation plans from treasury stock) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 400.17 Td (125) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 400.17 Td (134) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 400.17 Td (115) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 385.17 Td (Return of shares under incentive and stock compensation plans to treasury stock) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.80 385.22 Td (\(17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 385.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.80 385.22 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 385.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.80 385.17 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 385.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 370.17 Td (Issuance of shares for warrant exercise) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 370.17 Td (634) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 370.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.15 370.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 355.18 Td (Treasury Stock, at cost, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 456.30 355.23 Td (\(1,598) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.15 355.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.30 355.23 Td (\(1,740) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 529.15 355.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 550.30 355.18 Td (\(1,718) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 576.15 355.18 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 340.17 Td (Accumulated Other Comprehensive Income \(Loss\), net of tax, beginning of period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.65 340.17 Td (2,843) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 340.17 Td (1,251) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.80 340.17 Td (\(990) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 340.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 325.17 Td (Total other comprehensive income \(loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.30 325.22 Td (\(2,922) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 325.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 325.17 Td (1,592) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.65 325.17 Td (2,241) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 311.18 Td (Accumulated Other Comprehensive Income \(Loss\), net of tax, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.80 311.23 Td (\(79) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.15 311.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.65 311.18 Td (2,843) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 553.65 311.18 Td (1,251) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 297.18 Td (Total Stockholders Equity) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.50 297.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.60 297.18 Td (18,905) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.50 297.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.60 297.18 Td (22,447) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 535.50 297.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.60 297.18 Td (21,486) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 283.18 Td (Preferred Shares Outstanding \(in thousands\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.15 283.18 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.15 283.18 Td (575) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 561.15 283.18 Td (575) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 268.17 Td (Common Shares Outstanding, beginning of period \(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.60 268.17 Td (436,306) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.60 268.17 Td (442,539) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.60 268.17 Td (444,549) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 253.17 Td (Treasury stock acquired) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.30 253.22 Td (\(19,235) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 253.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.30 253.22 Td (\(8,045) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 253.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.30 253.17 Td (\(3,225) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 253.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 238.17 Td (Issuance of shares under incentive and stock compensation plans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.65 238.17 Td (2,136) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.65 238.17 Td (2,156) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.65 238.17 Td (1,476) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 223.17 Td (Return of shares under incentive and stock compensation plans and other to treasury stock) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.80 223.22 Td (\(592) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 223.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.80 223.22 Td (\(344) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 223.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.80 223.17 Td (\(261) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 223.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 208.17 Td (Conversion of mandatory convertible preferred shares) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.60 208.17 Td (21,178) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 208.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.15 208.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 193.17 Td (Issuance of shares for warrant exercise) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.60 193.17 Td (13,497) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 193.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.15 193.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 179.18 Td (Common Shares Outstanding, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 449.60 179.18 Td (453,290) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 496.60 179.18 Td (436,306) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 543.60 179.18 Td (442,539) Tj ET Q BT /F2 10.00 Tf ET BT /F5 9.00 Tf ET q 0 0 0 rg BT 215.95 154.20 Td (See Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 750.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 750.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 750.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 750.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 750.00 Td (, INC.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 180.95 738.00 Td (Consolidated Statements of Changes in Stockholders' Equity) Tj ET Q endstream endobj 287 0 obj <> endobj 288 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.05 20.10 Td (F-7) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 695.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 695.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 695.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 695.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 675.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 675.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 675.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 675.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 655.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 655.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 655.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 655.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 635.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 635.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 635.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 635.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 615.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 615.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 615.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 615.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 595.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 595.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 595.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 595.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 575.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 575.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 575.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 575.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 555.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 555.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 555.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 555.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 535.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 535.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 535.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 535.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 514.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 514.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 514.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 514.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 492.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 492.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 492.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 492.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 472.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 472.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 472.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 472.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 452.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 452.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 452.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 452.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 432.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 432.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 432.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 432.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 412.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 412.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 412.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 412.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 392.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 392.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 392.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 392.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 372.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 372.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 372.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 372.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 352.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 352.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 352.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 352.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 332.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 332.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 332.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 332.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 312.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 312.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 312.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 312.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 292.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 292.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 292.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 292.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 272.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 272.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 272.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 272.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 252.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 252.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 252.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 252.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 232.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 232.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 232.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 232.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 212.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 212.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 212.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 212.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 192.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 192.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 192.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 192.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 172.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 172.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 172.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 172.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 152.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 152.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 152.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 152.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 132.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 132.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 132.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 132.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 112.50 393.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 112.50 48.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 112.50 46.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 112.50 43.00 -10.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 50.00 90.50 393.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 443.00 90.50 48.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 90.50 46.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 537.00 90.50 43.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443 706.5 m 491 706.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 706.5 m 537 706.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 537 706.5 m 580 706.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 695.5 m 443 695.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443 695.5 m 491 695.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 695.5 m 537 695.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 537 695.5 m 580 695.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 514.5 m 443 514.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443 514.5 m 491 514.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 514.5 m 537 514.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 537 514.5 m 580 514.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 322.5 m 443 322.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443 322.5 m 491 322.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 322.5 m 537 322.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 537 322.5 m 580 322.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 322.5 m 443 322.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443 322.5 m 491 322.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 322.5 m 537 322.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 537 322.5 m 580 322.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 172.5 m 443 172.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443 172.5 m 491 172.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 172.5 m 537 172.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 537 172.5 m 580 172.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 50 132.5 m 443 132.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 443 132.5 m 491 132.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 132.5 m 537 132.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 537 132.5 m 580 132.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 122.5 m 443 122.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 122.5 m 491 122.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 122.5 m 537 122.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 537 122.5 m 580 122.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 67.5 m 443 67.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 443 67.5 m 491 67.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 67.5 m 537 67.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 537 67.5 m 580 67.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 710.75 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 445.65 710.90 Td (For the years ended December 31,) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 697.80 Td (\(In millions\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 457.50 697.95 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.50 697.95 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 549.20 697.95 Td (2011) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 52.50 687.63 Td (Operating Activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 677.50 Td (Net income \(loss\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 677.50 Td (176) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 677.50 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.10 677.50 Td (\(38) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 677.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 539.50 677.50 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.15 677.50 Td (712) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 52.50 667.63 Td (Adjustments to reconcile net income to net cash provided by operating activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 657.50 Td (Amortization of deferred policy acquisition costs and present value of future profits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.15 657.50 Td (2,701) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.75 657.50 Td (1,988) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.15 657.50 Td (2,444) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 647.50 Td (Additions to deferred policy acquisition costs and present value of future profits) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.45 647.50 Td (\(1,330) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 647.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.10 647.50 Td (\(1,639) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 647.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 555.45 647.50 Td (\(1,696) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 647.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 637.50 Td (Change in reserve for future policy benefits and unpaid losses and loss adjustment expenses and unearned premiums) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 637.50 Td (\(308) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 637.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 637.50 Td (\(226) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 637.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.15 637.50 Td (1,451) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 627.50 Td (Change in reinsurance recoverables) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 627.50 Td (\(561) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 627.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 627.50 Td (\(351) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 627.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 565.45 627.50 Td (\(31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 627.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 617.50 Td (Change in receivables and other assets) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 617.50 Td (\(409) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 617.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 617.50 Td (\(257) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 617.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 561.45 617.50 Td (\(211) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 617.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 607.50 Td (Change in payables and accruals) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 607.50 Td (497) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.80 607.50 Td (874) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 561.45 607.50 Td (\(491) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 607.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 597.50 Td (Change in accrued and deferred income taxes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 597.50 Td (\(745) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 597.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 597.50 Td (\(386) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 597.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 565.45 597.50 Td (\(82) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 597.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 587.50 Td (Net realized capital \(gains\) losses) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 587.50 Td (\(828) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 587.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.80 587.50 Td (711) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 568.15 587.50 Td (24) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 577.50 Td (Net disbursementsfrom investment contracts related to policyholder funds international variable annuities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.45 577.50 Td (\(9,189) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 577.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.10 577.50 Td (\(1,539) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 577.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 555.45 577.50 Td (\(2,332) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 577.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 567.50 Td (Net decrease in equity securities, trading) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.15 567.50 Td (9,188) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.75 567.50 Td (1,566) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.15 567.50 Td (2,321) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 557.50 Td (Depreciation and amortization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 557.50 Td (189) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.80 557.50 Td (467) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.15 557.50 Td (668) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 547.50 Td (Goodwill impairment) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.15 547.50 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.80 547.50 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 568.15 547.50 Td (30) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 537.50 Td (Loss on extinguishment of debt) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 537.50 Td (213) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.80 537.50 Td (910) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 568.15 537.50 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 527.50 Td (Reinsurance loss on disposition) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.15 527.50 Td (1,574) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.80 527.50 Td (533) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 568.15 527.50 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 517.45 Td (Other operating activities, net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.15 517.45 Td (69) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.80 517.45 Td (68) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 561.45 517.45 Td (\(533) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 517.45 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 82.50 506.63 Td (Net cash provided by operating activities) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 469.15 506.63 Td (1,237) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 515.75 506.63 Td (2,681) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 558.15 506.63 Td (2,274) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 52.50 496.58 Td (Investing Activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.50 496.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.50 496.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.50 496.45 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 484.50 Td (Proceeds from the sale/maturity/prepayment of:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 70.50 474.50 Td (Fixed maturities, available-for-sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.15 474.50 Td (40,266) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.75 474.50 Td (42,716) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.15 474.50 Td (38,260) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 70.50 464.50 Td (Fixed maturities, fair value option) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 464.50 Td (322) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.80 464.50 Td (283) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 568.15 464.50 Td (37) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 70.50 454.50 Td (Equity securities, available-for-sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 454.50 Td (274) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.80 454.50 Td (295) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.15 454.50 Td (239) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 70.50 444.50 Td (Mortgage loans) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 444.50 Td (468) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.80 444.50 Td (515) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.15 444.50 Td (515) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 70.50 434.50 Td (Partnerships) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 434.50 Td (368) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.80 434.50 Td (208) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.15 434.50 Td (237) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 424.50 Td (Payments for the purchase of:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 70.50 414.50 Td (Fixed maturities, available-for-sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.45 414.50 Td (\(35,446) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 414.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.10 414.50 Td (\(42,578) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 414.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 551.45 414.50 Td (\(37,627) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 414.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 70.50 404.50 Td (Fixed maturities, fair value option) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 404.50 Td (\(150) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 404.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 404.50 Td (\(182) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 404.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 561.45 404.50 Td (\(664) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 404.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 70.50 394.50 Td (Equity securities, available-for-sale) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 394.50 Td (\(212) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 394.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 394.50 Td (\(144) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 394.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 561.45 394.50 Td (\(270) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 394.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 70.50 384.50 Td (Mortgage loans) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 384.50 Td (\(718) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 384.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.10 384.50 Td (\(1,483) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 384.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 555.45 384.50 Td (\(1,800) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 384.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 70.50 374.50 Td (Partnerships) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 374.50 Td (\(353) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 374.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 374.50 Td (\(903) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 374.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 561.45 374.50 Td (\(784) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 374.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 364.50 Td (Proceeds from business sold) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 364.50 Td (815) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.80 364.50 Td (58) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.15 364.50 Td (278) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 354.50 Td (Derivatives, net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.45 354.50 Td (\(2,208) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 354.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.10 354.50 Td (\(2,665) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 354.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.15 354.50 Td (720) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 344.50 Td (Change in policy loans, net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 480.45 344.50 Td (\(5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 344.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 529.80 344.50 Td (4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.15 344.50 Td (180) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 334.50 Td (Change in short-term investments, net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 334.50 Td (318) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.75 334.50 Td (1,400) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 561.45 334.50 Td (\(346) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 334.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 324.50 Td (Other investing activities, net) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 483.15 324.50 Td (6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.10 324.50 Td (\(81) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 324.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 561.45 324.50 Td (\(157) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 324.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 82.50 314.63 Td (Net cash provided by \(used for\) investing activities) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 469.15 314.63 Td (3,745) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 513.10 314.63 Td (\(2,557) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 533.80 314.63 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 555.45 314.63 Td (\(1,182) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 576.15 314.63 Td (\)) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 52.50 304.63 Td (Financing Activities) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 294.50 Td (Deposits and other additions to investment and universal life-type contracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.15 294.50 Td (5,942) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.75 294.50 Td (10,951) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.15 294.50 Td (11,531) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 284.50 Td (Withdrawals and other deductions from investment and universal life-type contracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 462.45 284.50 Td (\(25,034) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 284.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 509.10 284.50 Td (\(25,543) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 284.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 551.45 284.50 Td (\(21,022) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 284.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 274.50 Td (Net transfers from separate accounts related to investment and universal life-type contracts) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 465.15 274.50 Td (16,978) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.75 274.50 Td (13,196) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.15 274.50 Td (9,843) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 264.50 Td (Repayments at maturity or settlement of consumer notes) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.45 264.50 Td (\(77) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 264.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 264.50 Td (\(153) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 264.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 565.45 264.50 Td (\(68) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 264.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 254.50 Td (Net increase \(decrease\) in securities loaned or sold under agreements to repurchase) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.45 254.50 Td (\(1,988) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 254.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.75 254.50 Td (1,988) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 568.15 254.50 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 244.50 Td (Repurchase of Warrants) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.45 244.50 Td (\(33) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 244.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 244.50 Td (\(300) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 244.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 568.15 244.50 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 234.50 Td (Repayment of long-term and short-term debt) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 466.45 234.50 Td (\(1,338) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 234.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 513.10 234.50 Td (\(2,133) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 234.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 561.45 234.50 Td (\(405) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 234.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 224.50 Td (Proceeds from the issuance of long-term and short-term debt) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 224.50 Td (533) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.75 224.50 Td (2,123) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 568.15 224.50 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 214.50 Td (Proceeds from net issuance of shares under incentive and stock compensation plans, excess tax benefit and other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.15 214.50 Td (20) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.80 214.50 Td (14) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 568.15 214.50 Td (10) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 204.50 Td (Treasury stock acquired) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 204.50 Td (\(600) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 204.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 204.50 Td (\(154) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 204.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 565.45 204.50 Td (\(46) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 204.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 194.50 Td (Dividends paid on preferred stock) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 476.45 194.50 Td (\(21) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 194.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.10 194.50 Td (\(42) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 194.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 565.45 194.50 Td (\(42) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 194.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 184.50 Td (Dividends paid on common stock) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 184.50 Td (\(202) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 184.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 184.50 Td (\(175) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 184.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 561.45 184.50 Td (\(153) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 184.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 174.50 Td (Changes in bank deposits and payments on bank advances) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.15 174.50 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.80 174.50 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 561.45 174.50 Td (\(257) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 576.15 174.50 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 94.50 164.63 Td (Net cash used for financing activities) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 466.45 164.63 Td (\(5,820) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.15 164.63 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 519.10 164.63 Td (\(228) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 533.80 164.63 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 561.45 164.63 Td (\(609) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 576.15 164.63 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 154.50 Td (Foreign exchange rate effect on cash) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 154.50 Td (\(155) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 154.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 523.10 154.50 Td (\(56) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 154.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 568.15 154.50 Td (36) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 144.50 Td (Net increase \(decrease\)in cash) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 472.45 144.50 Td (\(993) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 487.15 144.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 144.50 Td (\(160) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 144.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.15 144.50 Td (519) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 134.50 Td (Cash beginning of period) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 469.15 134.50 Td (2,421) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 515.75 134.50 Td (2,581) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.15 134.50 Td (2,062) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 94.50 124.63 Td (Cash end of period) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 445.50 124.63 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 469.15 124.63 Td (1,428) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 493.50 124.63 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 515.75 124.63 Td (2,421) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 539.50 124.63 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 558.15 124.63 Td (2,581) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 58.50 114.63 Td (Supplemental Disclosure of Cash Flow Information) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 104.50 Td (Income taxes paid \(received\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.50 104.50 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 479.15 104.50 Td (69) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 104.50 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.10 104.50 Td (\(486) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 533.80 104.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 539.50 104.50 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.15 104.50 Td (179) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 94.45 Td (Interest paid) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.50 94.45 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 475.15 94.45 Td (402) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 94.45 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.80 94.45 Td (461) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 539.50 94.45 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.15 94.45 Td (501) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 58.50 82.58 Td (Supplemental Disclosure of Non-Cash Investing Activity) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 58.50 71.45 Td (Conversion of fixed maturities, available-for-sale to equity securities, available-for-sale) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.50 70.12 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 70.12 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 493.50 71.45 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.80 71.45 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 539.50 70.12 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.15 70.12 Td () Tj ET Q BT /F2 10.00 Tf ET BT /F5 8.00 Tf ET q 0 0 0 rg BT 243.95 58.40 Td (See Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F2 8.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 752.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 752.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 752.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 752.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 752.00 Td (, INC.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 224.30 740.00 Td (Consolidated Statements of Cash Flows) Tj ET Q endstream endobj 289 0 obj <> endobj 290 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.05 20.10 Td (F-8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 753.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 753.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 753.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 753.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 753.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 175.30 741.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 211.52 741.75 Td (T) Tj ET Q q 0 0 0 rg BT 218.01 741.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 288.11 741.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 367.29 741.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 381.28 741.75 Td (A) Tj ET Q q 0 0 0 rg BT 387.76 741.75 Td (TEMENTS) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 147.15 729.75 Td (\(Dollar amounts in millions, except for per shar) Tj ET Q q 0 0 0 rg BT 338.99 729.75 Td (e data, unless otherwise stated\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 704.55 Td (1) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 37.00 704.55 Td (. ) Tj ET Q q 0 0 0 rg BT 42.50 704.55 Td (Basis ) Tj ET Q q 0 0 0 rg BT 69.70 704.55 Td (of ) Tj ET Q q 0 0 0 rg BT 81.62 704.55 Td (Pr) Tj ET Q q 0 0 0 rg BT 93.02 704.55 Td (esentation ) Tj ET Q q 0 0 0 rg BT 143.43 704.55 Td (and ) Tj ET Q q 0 0 0 rg BT 163.92 704.55 Td (Significant ) Tj ET Q q 0 0 0 rg BT 216.79 704.55 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 273.32 704.55 Td (Policies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 686.55 Td (Basis ) Tj ET Q q 0 0 0 rg BT 56.23 686.55 Td (of ) Tj ET Q q 0 0 0 rg BT 67.06 686.55 Td (Pr) Tj ET Q q 0 0 0 rg BT 77.43 686.55 Td (esentation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 668.55 Td (The Hartford Financial Services Group, Inc. is a holding company for insurance and financial services subsidiaries that provide ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 656.55 Td (investment products and life and property and casualty insurance to both individual and business customers in the United States ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 644.55 Td (\(collectively) Tj ET Q q 0 0 0 rg BT 80.83 644.55 Td (, The Hartford, the Company, we or our\). In 2012, ) Tj ET Q q 0 0 0 rg BT 322.21 644.55 Td (The Hartford concluded an evaluation of its strategy and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 632.55 Td (business portfolio. ) Tj ET Q q 0 0 0 rg BT 107.71 632.55 Td (The Company is currently focusing on its Property & Casualty) Tj ET Q q 0 0 0 rg BT 357.85 632.55 Td (, Group Benefits and Mutual Fund businesses. ) Tj ET Q q 0 0 0 rg BT 547.29 632.55 Td (Also, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 620.55 Td (the Company continues to administer life and annuity products previously sold.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 602.55 Td (On January 1, 2013, the Company completed the sale of its Retirement Plans business to Massachusetts Mutual Life Insurance Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 590.55 Td (\("MassMutual"\) and on January 2, 2013 the Company completed the sale of its Individual Life insurance business to ) Tj ET Q q 0 0 0 rg BT 500.22 590.55 Td (The Prudential ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 578.55 Td (Insurance Company of ) Tj ET Q q 0 0 0 rg BT 124.53 578.55 Td (America \("Prudential"\), a subsidiary of Prudential Financial, Inc. For further discussion of these and other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 566.55 Td (transactions, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 121.47 566.55 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.47 566.55 Td ( - Business Dispositions of Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 548.55 Td (On December 12, 2013, the Company completed the sale of Hartford Life International Limited \("HLIL"\), an indirect wholly-owned ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 536.55 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 71.96 536.55 Td (. For further discussion of this transaction, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.58 536.55 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.58 536.55 Td ( - Business Dispositions and Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.36 536.55 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.36 536.55 Td ( - Discontinued Operations of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 524.55 Td (Notes to Consolidated Financial Statements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 506.55 Td (The ) Tj ET Q q 0 0 0 rg BT 49.81 506.55 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 105.35 506.55 Td (Financial ) Tj ET Q q 0 0 0 rg BT 145.32 506.55 Td (Statements ) Tj ET Q q 0 0 0 rg BT 191.97 506.55 Td (have ) Tj ET Q q 0 0 0 rg BT 213.61 506.55 Td (been ) Tj ET Q q 0 0 0 rg BT 235.25 506.55 Td (prepared ) Tj ET Q q 0 0 0 rg BT 272.99 506.55 Td (on ) Tj ET Q q 0 0 0 rg BT 285.75 506.55 Td (the ) Tj ET Q q 0 0 0 rg BT 300.73 506.55 Td (basis ) Tj ET Q q 0 0 0 rg BT 323.50 506.55 Td (of ) Tj ET Q q 0 0 0 rg BT 334.59 506.55 Td (accounting ) Tj ET Q q 0 0 0 rg BT 381.23 506.55 Td (principles ) Tj ET Q q 0 0 0 rg BT 423.42 506.55 Td (generally ) Tj ET Q q 0 0 0 rg BT 463.39 506.55 Td (accepted ) Tj ET Q q 0 0 0 rg BT 501.12 506.55 Td (in ) Tj ET Q q 0 0 0 rg BT 511.67 506.55 Td (the ) Tj ET Q q 0 0 0 rg BT 526.65 506.55 Td (United ) Tj ET Q q 0 0 0 rg BT 556.63 506.55 Td (States ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 494.55 Td (of ) Tj ET Q q 0 0 0 rg BT 41.78 494.55 Td (America ) Tj ET Q q 0 0 0 rg BT 78.70 494.55 Td (\(U.S. ) Tj ET Q q 0 0 0 rg BT 106.75 494.55 Td (GAAP\), ) Tj ET Q q 0 0 0 rg BT 146.75 494.55 Td (which ) Tj ET Q q 0 0 0 rg BT 173.69 494.55 Td (dif) Tj ET Q q 0 0 0 rg BT 184.62 494.55 Td (fer ) Tj ET Q q 0 0 0 rg BT 198.21 494.55 Td (materially ) Tj ET Q q 0 0 0 rg BT 241.25 494.55 Td (from ) Tj ET Q q 0 0 0 rg BT 263.19 494.55 Td (the ) Tj ET Q q 0 0 0 rg BT 277.91 494.55 Td (accounting ) Tj ET Q q 0 0 0 rg BT 324.28 494.55 Td (practices ) Tj ET Q q 0 0 0 rg BT 362.31 494.55 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 406.46 494.55 Td (by ) Tj ET Q q 0 0 0 rg BT 418.96 494.55 Td (various ) Tj ET Q q 0 0 0 rg BT 450.89 494.55 Td (insurance ) Tj ET Q q 0 0 0 rg BT 491.71 494.55 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 535.30 494.55 Td (authorities.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 476.55 Td (Consolidation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 458.55 Td (The Consolidated Financial Statements include the accounts of ) Tj ET Q q 0 0 0 rg BT 285.70 458.55 Td (The Hartford Financial Services Group, Inc., companies in which the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 446.55 Td (Company directly or indirectly has a controlling financial interest and those variable interest entities \(VIEs\) in which the Company is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 434.55 Td (required to consolidate. Entities in which the Company has significant influence over the operating and financing decisions but are not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 422.55 Td (required to consolidate are reported using the equity method. For further discussions on ) Tj ET Q q 0 0 0 rg BT 384.01 422.55 Td (VIEs see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.27 422.55 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.27 422.55 Td ( of the Notes to Consolidated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 410.55 Td (Financial Statements. ) Tj ET Q q 0 0 0 rg BT 119.54 410.55 Td (All intercompany transactions and balances between ) Tj ET Q q 0 0 0 rg BT 332.06 410.55 Td (The Hartford and its subsidiaries and af) Tj ET Q q 0 0 0 rg BT 490.17 410.55 Td (filiates have been ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 398.55 Td (eliminated.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 380.55 Td (Discontinued Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 362.55 Td (The results of operations of a component of the Company that either has been disposed of or is classified as held-for) Tj ET Q q 0 0 0 rg BT 496.17 362.55 Td (-sale are reported in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 350.55 Td (discontinued operations if the operations and cash flows of the component have been or will be eliminated from the ongoing operations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 338.55 Td (of the Company as a result of the disposal transaction and the Company will not have any significant continuing involvement in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 326.55 Td (operations of the component after the disposal transaction.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 308.55 Td (The Company is presenting as discontinued operations certain businesses that meet the criteria for reporting as discontinued operations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 296.55 Td (Amounts for prior periods have been retrospectively reclassified. See Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.79 296.55 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.79 296.55 Td ( of the Notes to Consolidated Financial Statements for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 284.55 Td (information on the specific subsidiaries and related impacts.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 266.55 Td (Use of Estimates) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 248.55 Td (The preparation of financial statements, in conformity with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 316.99 248.55 Td (, requires management to make estimates and assumptions that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 236.55 Td (af) Tj ET Q q 0 0 0 rg BT 39.09 236.55 Td (fect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 224.55 Td (statements and the reported amounts of revenues and expenses during the reporting period. ) Tj ET Q q 0 0 0 rg BT 396.95 224.55 Td (Actual results could dif) Tj ET Q q 0 0 0 rg BT 490.36 224.55 Td (fer from those ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 212.55 Td (estimates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 194.55 Td (The most significant estimates include those used in determining property and casualty insurance product reserves, net of reinsurance; ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 182.55 Td (estimated gross profits used in the valuation and amortization of assets and liabilities associated with variable annuity and other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 170.55 Td (universal life-type contracts; evaluation of other) Tj ET Q q 0 0 0 rg BT 223.73 170.55 Td (-than-temporary impairments on available-for) Tj ET Q q 0 0 0 rg BT 407.07 170.55 Td (-sale securities and valuation allowances ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 158.55 Td (on investments; living benefits on annuity contracts required to be fair valued; goodwill impairment; valuation of investments and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 146.55 Td (derivative instruments; pension and other postretirement benefit obligations \(see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.52 146.55 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.52 146.55 Td (\); valuation allowance on deferred tax assets; ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 134.55 Td (and contingencies relating to corporate litigation and regulatory matters \(see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.10 134.55 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.10 134.55 Td (\). ) Tj ET Q q 0 0 0 rg BT 379.25 134.55 Td (The related accounting policies are summarized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 122.55 Td (in the Significant ) Tj ET Q q 0 0 0 rg BT 102.33 122.55 Td (Accounting Policies section of this footnote unless indicated otherwise herein. Certain of these estimates are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 110.55 Td (particularly sensitive to market conditions, and deterioration and/or volatility in the worldwide debt or equity markets could have a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 98.55 Td (material impact on the Consolidated Financial Statements. ) Tj ET Q endstream endobj 291 0 obj <> endobj 292 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 729.35 Td (1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 96.27 729.35 Td (esentation and Significant ) Tj ET Q q 0 0 0 rg BT 220.04 729.35 Td (Accounting Policies \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.05 20.10 Td (F-9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Mutual Funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The Company maintains a mutual fund operation whereby the Company provides investment management, administrative and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (distribution services to ) Tj ET Q q 0 0 0 rg BT 124.92 683.25 Td (The Hartford-sponsored mutual funds \(collectively) Tj ET Q q 0 0 0 rg BT 328.10 683.25 Td (, mutual funds\). ) Tj ET Q q 0 0 0 rg BT 402.62 683.25 Td (These mutual funds are registered with the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (Securities and Exchange Commission \(SEC\) under the Investment Company ) Tj ET Q q 0 0 0 rg BT 349.49 671.25 Td (Act of 1940. ) Tj ET Q q 0 0 0 rg BT 402.08 671.25 Td (The mutual funds are owned by the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (shareholders of those funds and not by the Company) Tj ET Q q 0 0 0 rg BT 241.37 659.25 Td (. ) Tj ET Q q 0 0 0 rg BT 248.32 659.25 Td (As such, the mutual fund assets and liabilities and related investment returns are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (not reflected in the Company) Tj ET Q q 0 0 0 rg BT 150.91 647.25 Td (s Consolidated Financial Statements since they are not assets, liabilities and operations of the Company) Tj ET Q q 0 0 0 rg BT 564.34 647.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (Reclassifications) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (Certain reclassifications have been made to prior year financial information to conform to the current year presentation.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 79.57 593.25 Td (Accounting Policies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 575.25 Td (s significant accounting policies are as follows: ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (Revenue Recognition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (Property and casualty insurance premiums are earned on a pro rata basis over the lives of the policies and include accruals for ultimate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (premium revenue anticipated under auditable and retrospectively rated policies. Unearned premiums represent the premiums applicable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (to the unexpired terms of policies in force. ) Tj ET Q q 0 0 0 rg BT 203.39 515.25 Td (An estimated allowance for doubtful accounts is recorded on the basis of periodic evaluations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (of balances due from insureds, management) Tj ET Q q 0 0 0 rg BT 210.33 503.25 Td (s experience and current economic conditions. ) Tj ET Q q 0 0 0 rg BT 398.13 503.25 Td (The Company char) Tj ET Q q 0 0 0 rg BT 474.59 503.25 Td (ges of) Tj ET Q q 0 0 0 rg BT 498.57 503.25 Td (f any balances that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (are determined to be uncollectible. ) Tj ET Q q 0 0 0 rg BT 172.37 491.25 Td (The allowance for doubtful accounts included in premiums receivable and agents) Tj ET Q q 0 0 0 rg BT 499.84 491.25 Td ( balances in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (Consolidated Balance Sheets was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 168.14 479.25 Td ($125) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.14 479.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.57 479.25 Td ($1) Tj ET Q q 0 0 0 rg BT 217.20 479.25 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.20 479.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 229.70 479.25 Td (as of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.95 479.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.39 479.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.39 479.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 422.05 479.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (T) Tj ET Q q 0 0 0 rg BT 37.26 461.25 Td (raditional life products premiums are recognized as revenue when due from policyholders. Group life, disability and accident ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (premiums are generally both due from policyholders and recognized as revenue on a pro rata basis over the period of the contracts.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.25 Td (Fee income for universal life-type contracts consists of policy char) Tj ET Q q 0 0 0 rg BT 298.17 431.25 Td (ges for policy administration, cost of insurance char) Tj ET Q q 0 0 0 rg BT 505.71 431.25 Td (ges and surrender ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (char) Tj ET Q q 0 0 0 rg BT 48.53 419.25 Td (ges assessed against policyholders) Tj ET Q q 0 0 0 rg BT 188.58 419.25 Td ( account balances and are recognized in the period in which services are provided. ) Tj ET Q q 0 0 0 rg BT 519.65 419.25 Td (The amounts ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.25 Td (collected from policyholders for investment and universal life-type contracts are considered deposits and are not included in revenue. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.25 Td (Unearned revenue reserves, representing amounts assessed as consideration for policy origination of a universal life-type contract, are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (deferred and recognized in income over the period benefited, generally in proportion to estimated gross profits.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (The Company provides investment management, administrative and distribution services to mutual funds. ) Tj ET Q q 0 0 0 rg BT 457.90 365.25 Td (The Company char) Tj ET Q q 0 0 0 rg BT 534.36 365.25 Td (ges fees to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.25 Td (these mutual funds which are primarily based on the average daily net asset values of the mutual funds and recorded as fee income in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.25 Td (period in which the services are provided. Commission fees are based on the sale proceeds and recognized at the time of the transaction. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.25 Td (T) Tj ET Q q 0 0 0 rg BT 37.26 329.25 Td (ransfer agent fees are assessed as a char) Tj ET Q q 0 0 0 rg BT 196.15 329.25 Td (ge per account and recognized as fee income in the period in which the services are provided.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.25 Td (Other revenues primarily consists of servicing revenues which are recognized as services are performed.) Tj ET Q endstream endobj 293 0 obj <> endobj 294 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 729.35 Td (1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 96.27 729.35 Td (esentation and Significant ) Tj ET Q q 0 0 0 rg BT 220.04 729.35 Td (Accounting Policies \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-10) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Dividends to Policyholders) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Policyholder dividends are paid to certain property and casualty and life insurance policyholders. Policies that receive dividends are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (referred to as participating policies. Such dividends are accrued using an estimate of the amount to be paid based on underlying ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (contractual obligations under policies and applicable state laws.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (Net written premiums for participating property and casualty insurance policies represented ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.54 653.25 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.87 653.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.87 653.25 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.20 653.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.64 653.25 Td (9%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.97 653.25 Td ( of total net written ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (premiums for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 152.85 641.25 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 208.93 641.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.43 641.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.43 641.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.43 641.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.87 641.25 Td (201) Tj ET Q q 0 0 0 rg BT 290.50 641.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.50 641.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 348.16 641.25 Td (. Participating dividends to policyholders were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.29 641.25 Td ($16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.29 641.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.29 641.25 Td ($14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.29 641.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 48.44 629.25 Td ($18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.44 629.25 Td ( for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 144.79 629.25 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.88 629.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.38 629.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.38 629.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.38 629.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.81 629.25 Td (201) Tj ET Q q 0 0 0 rg BT 282.44 629.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.44 629.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 340.10 629.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 611.25 Td (otal participating policies in-force represented ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.78 611.25 Td (1%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.11 611.25 Td ( of the total life insurance policies in-force as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.48 611.25 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.56 611.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.06 611.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.06 611.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.06 611.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.50 611.25 Td (201) Tj ET Q q 0 0 0 rg BT 569.13 611.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.13 611.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (Dividends to policyholders were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.25 599.25 Td ($18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.25 599.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.25 599.25 Td ($20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.25 599.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 218.69 599.25 Td ($17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 233.69 599.25 Td ( for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.04 599.25 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.12 599.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.62 599.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.62 599.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.62 599.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.06 599.25 Td (201) Tj ET Q q 0 0 0 rg BT 452.69 599.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.69 599.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 510.35 599.25 Td (. ) Tj ET Q q 0 0 0 rg BT 515.17 599.25 Td (There were no ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (additional amounts of income allocated to participating policyholders. If limitations exist on the amount of net income from participating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (life insurance contracts that may be distributed to stockholder) Tj ET Q q 0 0 0 rg BT 278.46 575.25 Td () Tj ET Q q 0 0 0 rg BT 281.24 575.25 Td (s, the policyholder) Tj ET Q q 0 0 0 rg BT 355.76 575.25 Td () Tj ET Q q 0 0 0 rg BT 358.54 575.25 Td (s share of net income on those contracts that cannot be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (distributed is excluded from stockholder) Tj ET Q q 0 0 0 rg BT 193.50 563.25 Td () Tj ET Q q 0 0 0 rg BT 196.28 563.25 Td (s equity by a char) Tj ET Q q 0 0 0 rg BT 266.63 563.25 Td (ge to operations and a credit to a liability) Tj ET Q q 0 0 0 rg BT 429.82 563.25 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (Fair V) Tj ET Q q 0 0 0 rg BT 57.90 545.25 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (The following financial instruments are carried at fair value in the Company) Tj ET Q q 0 0 0 rg BT 339.45 527.25 Td (s Consolidated Financial Statements: fixed maturity and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (equity securities, available-for) Tj ET Q q 0 0 0 rg BT 152.64 515.25 Td (-sale \(AFS\); fixed maturities at fair value using fair value option \(FVO\); equity securities, trading; ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (short-term investments; freestanding and embedded derivatives; certain limited partnerships and other alternative investments; separate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (account assets and certain other liabilities. For further discussion of fair value, see Note 5 - Fair ) Tj ET Q q 0 0 0 rg BT 418.42 491.25 Td (V) Tj ET Q q 0 0 0 rg BT 424.54 491.25 Td (alue Measurements of Notes to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td ( ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.00 461.25 Td (Investments) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (Overview) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 425.25 Td (s investments in fixed maturities include bonds, structured securities, redeemable preferred stock and commercial paper) Tj ET Q q 0 0 0 rg BT 569.38 425.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (These investments, along with certain equity securities, which include common and non-redeemable preferred stocks, are classified as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (AFS and are carried at fair value. ) Tj ET Q q 0 0 0 rg BT 166.81 401.25 Td (The after) Tj ET Q q 0 0 0 rg BT 202.97 401.25 Td (-tax dif) Tj ET Q q 0 0 0 rg BT 231.95 401.25 Td (ference from cost or amortized cost is reflected in stockholders) Tj ET Q q 0 0 0 rg BT 486.38 401.25 Td ( equity as a component ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (of ) Tj ET Q q 0 0 0 rg BT 41.78 389.25 Td (Accumulated Other Comprehensive Income \(Loss\) \(AOCI\), after adjustments for the ef) Tj ET Q q 0 0 0 rg BT 401.19 389.25 Td (fect of deducting the life and pension ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.25 Td (policyholders) Tj ET Q q 0 0 0 rg BT 88.52 377.25 Td ( share of the immediate participation guaranteed contracts and certain life and annuity deferred policy acquisition costs ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (and reserve adjustments. Fixed maturities for which the Company elected the fair value option are classified as FVO and are carried at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.25 Td (fair value with changes in value recorded in realized capital gains and losses on the Company's Consolidated Statements of Operations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.25 Td (The equity investments associated with the variable annuity products of) Tj ET Q q 0 0 0 rg BT 318.19 341.25 Td (fered in Japan are recorded at fair value and are classified as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.25 Td (trading with changes in fair value recorded in net investment income. Policy loans are carried at outstanding balance. Mortgage loans are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.25 Td (recorded at the outstanding principal balance adjusted for amortization of premiums or discounts and net of valuation allowances. Short-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.25 Td (term investments are carried at amortized cost, which approximates fair value. Limited partnerships and other alternative investments are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.25 Td (reported at their carrying value with the change in carrying value primarily accounted for under the equity method and accordingly the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.25 Td (Company) Tj ET Q q 0 0 0 rg BT 73.17 281.25 Td (s share of earnings are included in net investment income. In addition, for investments in a wholly-owned fund of funds, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.25 Td (Company recognizes changes in the fair value of the underlying funds in net investment income, which is consistent with accounting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.25 Td (requirements for investment companies. Recognition of income related to limited partnerships and other alternative investments is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.25 Td (delayed due to the availability of the related financial information, as private equity and other funds are generally on a three-month delay ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (and hedge funds are on a one-month delay) Tj ET Q q 0 0 0 rg BT 200.51 233.25 Td (. ) Tj ET Q q 0 0 0 rg BT 204.96 233.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 254.30 233.25 Td (, income for the years ended December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.67 233.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.67 233.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.67 233.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.67 233.25 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.61 233.25 Td (201) Tj ET Q q 0 0 0 rg BT 510.24 233.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.24 233.25 Td ( may not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.25 Td (include the full impact of current year changes in valuation of the underlying assets and liabilities of the funds, which are generally ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.25 Td (obtained from the limited partnerships and other alternative investments) Tj ET Q q 0 0 0 rg BT 322.34 209.25 Td ( general partners. Other investments primarily consist of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.25 Td (derivatives instruments which are carried at fair value. ) Tj ET Q endstream endobj 295 0 obj <> endobj 296 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 729.35 Td (1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 96.27 729.35 Td (esentation and Significant ) Tj ET Q q 0 0 0 rg BT 220.04 729.35 Td (Accounting Policies \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.70 20.10 Td (F-1) Tj ET Q q 0 0 0 rg BT 310.22 20.10 Td (1) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Recognition and Pr) Tj ET Q q 0 0 0 rg BT 109.45 713.10 Td (esentation of Other) Tj ET Q q 0 0 0 rg BT 186.46 713.10 Td (-Than-T) Tj ET Q q 0 0 0 rg BT 218.33 713.10 Td (emporary Impairments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The Company deems bonds and certain equity securities with debt-like characteristics \(collectively debt securities\) to be other) Tj ET Q q 0 0 0 rg BT 545.01 695.10 Td (-than-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (temporarily impaired \(impaired\) if a security meets the following conditions: a\) the Company intends to sell or it is more likely than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (not that the Company will be required to sell the security before a recovery in value, or b\) the Company does not expect to recover the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (entire amortized cost basis of the security) Tj ET Q q 0 0 0 rg BT 196.91 659.10 Td (. If the Company intends to sell or it is more likely than not that the Company will be required ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (to sell the security before a recovery in value, a char) Tj ET Q q 0 0 0 rg BT 240.39 647.10 Td (ge is recorded in net realized capital losses equal to the dif) Tj ET Q q 0 0 0 rg BT 473.73 647.10 Td (ference between the fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (value and amortized cost basis of the security) Tj ET Q q 0 0 0 rg BT 212.74 635.10 Td (. For those impaired debt securities which do not meet the first condition and for which the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (Company does not expect to recover the entire amortized cost basis, the dif) Tj ET Q q 0 0 0 rg BT 332.06 623.10 Td (ference between the security) Tj ET Q q 0 0 0 rg BT 448.94 623.10 Td (s amortized cost basis and the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (fair value is separated into the portion representing a credit other) Tj ET Q q 0 0 0 rg BT 290.09 611.10 Td (-than-temporary impairment \(impairment\), which is recorded in net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (realized capital losses, and the remaining impairment, which is recorded in OCI. Generally) Tj ET Q q 0 0 0 rg BT 394.34 599.10 Td (, the Company determines a security) Tj ET Q q 0 0 0 rg BT 543.18 599.10 Td (s credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (impairment as the dif) Tj ET Q q 0 0 0 rg BT 116.57 587.10 Td (ference between its amortized cost basis and its best estimate of expected future cash flows discounted at the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (security) Tj ET Q q 0 0 0 rg BT 65.93 575.10 Td (s ef) Tj ET Q q 0 0 0 rg BT 79.91 575.10 Td (fective yield prior to impairment. ) Tj ET Q q 0 0 0 rg BT 215.25 575.10 Td (The remaining non-credit impairment, which is recorded in OCI, is the dif) Tj ET Q q 0 0 0 rg BT 511.92 575.10 Td (ference between ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (the security) Tj ET Q q 0 0 0 rg BT 80.65 563.10 Td (s fair value and the Company) Tj ET Q q 0 0 0 rg BT 200.89 563.10 Td (s best estimate of expected future cash flows discounted at the security) Tj ET Q q 0 0 0 rg BT 486.64 563.10 Td (s ef) Tj ET Q q 0 0 0 rg BT 500.62 563.10 Td (fective yield prior ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (to the impairment, which typically represents current market liquidity and risk premiums. ) Tj ET Q q 0 0 0 rg BT 391.78 551.10 Td (The previous amortized cost basis less the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (impairment recognized in net realized capital losses becomes the security) Tj ET Q q 0 0 0 rg BT 327.77 539.10 Td (s new cost basis. ) Tj ET Q q 0 0 0 rg BT 396.75 539.10 Td (The Company accretes the new cost basis to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (the estimated future cash flows over the expected remaining life of the security by prospectively adjusting the security) Tj ET Q q 0 0 0 rg BT 507.18 527.10 Td (s yield, if) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.67 527.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 513.10 Td (necessary) Tj ET Q q 0 0 0 rg BT 69.72 513.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 495.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 495.10 Td (s evaluation of whether a credit impairment exists for debt securities includes but is not limited to, the following factors: ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 483.10 Td (\(a\)changes in the financial condition of the security) Tj ET Q q 0 0 0 rg BT 242.54 483.10 Td (s underlying collateral, \(b\)whether the issuer is current on contractually obligated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 471.10 Td (interest and principal payments, \(c\)changes in the financial condition, credit rating and near) Tj ET Q q 0 0 0 rg BT 400.33 471.10 Td (-term prospects of the issuer) Tj ET Q q 0 0 0 rg BT 513.23 471.10 Td (, \(d\)the extent ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 459.10 Td (to which the fair value has been less than the amortized cost of the security and \(e\)the payment structure of the security) Tj ET Q q 0 0 0 rg BT 510.12 459.10 Td (. ) Tj ET Q q 0 0 0 rg BT 514.94 459.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 574.65 459.10 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 447.10 Td (best estimate of expected future cash flows used to determine the credit loss amount is a quantitative and qualitative process that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 435.10 Td (incorporates information received from third-party sources along with certain internal assumptions and judgments regarding the future ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 423.10 Td (performance of the security) Tj ET Q q 0 0 0 rg BT 141.08 423.10 Td (. ) Tj ET Q q 0 0 0 rg BT 145.89 423.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 205.61 423.10 Td (s best estimate of future cash flows involves assumptions including, but not limited to, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 411.10 Td (various performance indicators, such as historical and projected default and recovery rates, credit ratings, current and projected ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 399.10 Td (delinquency rates, and loan-to-value \("L) Tj ET Q q 0 0 0 rg BT 192.10 399.10 Td (TV"\) ratios. In addition, for structured securities, the Company considers factors including, but ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 387.10 Td (not limited to, average cumulative collateral loss rates that vary by vintage year) Tj ET Q q 0 0 0 rg BT 349.04 387.10 Td (, commercial and residential property value declines that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 375.10 Td (vary by property type and location and commercial real estate delinquency levels. ) Tj ET Q q 0 0 0 rg BT 360.91 375.10 Td (These assumptions require the use of significant ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 363.10 Td (management judgment and include the probability of issuer default and estimates regarding timing and amount of expected recoveries ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 351.10 Td (which may include estimating the underlying collateral value. In addition, projections of expected future debt security cash flows may ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 339.10 Td (change based upon new information regarding the performance of the issuer and/or underlying collateral such as changes in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 327.10 Td (projections of the underlying property value estimates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 309.10 Td (For equity securities where the decline in the fair value is deemed to be other) Tj ET Q q 0 0 0 rg BT 339.52 309.10 Td (-than-temporary) Tj ET Q q 0 0 0 rg BT 403.84 309.10 Td (, a char) Tj ET Q q 0 0 0 rg BT 432.81 309.10 Td (ge is recorded in net realized capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 297.10 Td (losses equal to the dif) Tj ET Q q 0 0 0 rg BT 117.97 297.10 Td (ference between the fair value and cost basis of the security) Tj ET Q q 0 0 0 rg BT 355.55 297.10 Td (. ) Tj ET Q q 0 0 0 rg BT 360.37 297.10 Td (The previous cost basis less the impairment becomes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 285.10 Td (the security) Tj ET Q q 0 0 0 rg BT 80.65 285.10 Td (s new cost basis. ) Tj ET Q q 0 0 0 rg BT 149.63 285.10 Td (The Company asserts its intent and ability to retain those equity securities deemed to be temporarily ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 273.10 Td (impaired until the price recovers. Once identified, these securities are systematically restricted from trading unless approved by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 261.10 Td (investment and accounting professionals. ) Tj ET Q q 0 0 0 rg BT 198.78 261.10 Td (The investment and accounting professionals will only authorize the sale of these securities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 249.10 Td (based on predefined criteria that relate to events that could not have been reasonably foreseen. Examples of the criteria include, but are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 237.10 Td (not limited to, the deterioration in the issuer) Tj ET Q q 0 0 0 rg BT 207.39 237.10 Td () Tj ET Q q 0 0 0 rg BT 210.17 237.10 Td (s financial condition, security price declines, a change in regulatory requirements or a major ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 225.10 Td (business combination or major disposition.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 207.10 Td (The primary factors considered in evaluating whether an impairment exists for an equity security include, but are not limited to: \(a\)the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 195.10 Td (length of time and extent to which the fair value has been less than the cost of the security) Tj ET Q q 0 0 0 rg BT 390.74 195.10 Td (, \(b\)changes in the financial condition, credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 183.10 Td (rating and near) Tj ET Q q 0 0 0 rg BT 91.27 183.10 Td (-term prospects of the issuer) Tj ET Q q 0 0 0 rg BT 204.17 183.10 Td (, \(c\)whether the issuer is current on preferred stock dividends and \(d\)the intent and ability of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 171.10 Td (the Company to retain the investment for a period of time suf) Tj ET Q q 0 0 0 rg BT 276.53 171.10 Td (ficient to allow for recovery) Tj ET Q q 0 0 0 rg BT 388.06 171.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 153.10 Td (Mortgage Loan V) Tj ET Q q 0 0 0 rg BT 101.50 153.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 137.15 153.10 Td (Allowances) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 135.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 135.10 Td (s security monitoring process reviews mortgage loans on a quarterly basis to identify potential credit losses. Commercial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 123.10 Td (mortgage loans are considered to be impaired when management estimates that, based upon current information and events, it is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 111.10 Td (probable that the Company will be unable to collect amounts due according to the contractual terms of the loan agreement. Criteria used ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 99.10 Td (to determine if an impairment exists include, but are not limited to: current and projected macroeconomic factors, such as unemployment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 87.10 Td (rates, and property-specific factors such as rental rates, occupancy levels, L) Tj ET Q q 0 0 0 rg BT 332.39 87.10 Td (TV) Tj ET Q q 0 0 0 rg BT 345.54 87.10 Td ( ratios and debt service coverage ratios \(DSCR\). In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 75.10 Td (addition, the Company considers historic, current and projected delinquency rates and property values. ) Tj ET Q q 0 0 0 rg BT 444.53 75.10 Td (These assumptions require the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 63.10 Td (use of significant management judgment and include the probability and timing of borrower default and loss severity estimates. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 51.10 Td (addition, projections of expected future cash flows may change based upon new information regarding the performance of the borrower ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 39.10 Td (and/or underlying collateral such as changes in the projections of the underlying property value estimates.) Tj ET Q endstream endobj 297 0 obj <> endobj 298 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 729.35 Td (1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 96.27 729.35 Td (esentation and Significant ) Tj ET Q q 0 0 0 rg BT 220.04 729.35 Td (Accounting Policies \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (For mortgage loans that are deemed impaired, a valuation allowance is established for the dif) Tj ET Q q 0 0 0 rg BT 403.69 713.10 Td (ference between the carrying amount and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 87.88 701.10 Td (s share of either \(a\)the present value of the expected future cash flows discounted at the loan) Tj ET Q q 0 0 0 rg BT 463.01 701.10 Td (s ef) Tj ET Q q 0 0 0 rg BT 476.99 701.10 Td (fective interest rate, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (\(b\)the loan) Tj ET Q q 0 0 0 rg BT 80.37 689.10 Td (s observable market price or) Tj ET Q q 0 0 0 rg BT 193.26 689.10 Td (, most frequently) Tj ET Q q 0 0 0 rg BT 260.65 689.10 Td (, \(c\)the fair value of the collateral. ) Tj ET Q q 0 0 0 rg BT 401.69 689.10 Td (A) Tj ET Q q 0 0 0 rg BT 408.36 689.10 Td ( valuation allowance has been established ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (for either individual loans or as a projected loss contingency for loans with an L) Tj ET Q q 0 0 0 rg BT 350.49 677.10 Td (TV) Tj ET Q q 0 0 0 rg BT 363.64 677.10 Td ( ratio of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.80 677.10 Td (90%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.13 677.10 Td ( or greater and consideration of other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (credit quality factors, including DSCR. Changes in valuation allowances are recorded in net realized capital gains and losses. Interest ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (income on impaired loans is accrued to the extent it is deemed collectible and the loans continue to perform under the original or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (restructured terms. Interest income ceases to accrue for loans when it is probable that the Company will not receive interest and principal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (payments according to the contractual terms of the loan agreement. Loans may resume accrual status when it is determined that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (suf) Tj ET Q q 0 0 0 rg BT 43.54 617.10 Td (ficient collateral exists to satisfy the full amount of the loan and interest payments, as well as when it is probable cash will be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (received in the foreseeable future. Interest income on defaulted loans is recognized when received.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (Net Realized Capital Gains and Losses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (Net realized capital gains and losses from investment sales are reported as a component of revenues and are determined on a specific ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (identification basis, as well as changes in value associated with fixed maturities for which the fair value option was elected. Net realized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (capital gains and losses also result from fair value changes in derivatives contracts \(both free-standing and embedded\) that do not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (qualify) Tj ET Q q 0 0 0 rg BT 59.18 533.10 Td (, or are not designated, as a hedge for accounting purposes, inef) Tj ET Q q 0 0 0 rg BT 313.35 533.10 Td (fectiveness on derivatives that qualify for hedge accounting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (treatment, and the change in value of derivatives in certain fair) Tj ET Q q 0 0 0 rg BT 282.02 521.10 Td (-value hedge relationships and their associated hedged asset. Impairments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (and mortgage loan valuation allowances are recognized as net realized capital losses in accordance with the Company) Tj ET Q q 0 0 0 rg BT 505.75 509.10 Td (s impairment and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (mortgage loan valuation allowance policies previously discussed above. Foreign currency transaction remeasurements are also included ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (in net realized capital gains and losses.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 467.10 Td (Net Investment Income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (Interest income from fixed maturities and mortgage loans is recognized when earned on the constant ef) Tj ET Q q 0 0 0 rg BT 443.67 449.10 Td (fective yield method based on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (estimated timing of cash flows. ) Tj ET Q q 0 0 0 rg BT 159.07 437.10 Td (The amortization of premium and accretion of discount for fixed maturities also takes into consideration ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (call and maturity dates that produce the lowest yield. For securitized financial assets subject to prepayment risk, yields are recalculated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (and adjusted periodically to reflect historical and/or estimated future repayments using the retrospective method; however) Tj ET Q q 0 0 0 rg BT 518.71 413.10 Td (, if these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (investments are impaired, any yield adjustments are made using the prospective method. Prepayment fees on fixed maturities and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.10 Td (mortgage loans are recorded in net investment income when earned. For equity securities, available-for) Tj ET Q q 0 0 0 rg BT 446.70 389.10 Td (-sale, dividends will be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.10 Td (recognized as investment income on the ex-divided date. Limited partnerships and other alternative investments primarily use the equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.10 Td (method of accounting to recognize the Company) Tj ET Q q 0 0 0 rg BT 229.22 365.10 Td (s share of earnings; however) Tj ET Q q 0 0 0 rg BT 343.22 365.10 Td (, the Company also uses investment fund accounting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (applied to a wholly-owned fund of funds. For impaired debt securities, the Company accretes the new cost basis to the estimated future ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (cash flows over the expected remaining life of the security by prospectively adjusting the security) Tj ET Q q 0 0 0 rg BT 425.26 341.10 Td (s yield, if necessary) Tj ET Q q 0 0 0 rg BT 503.48 341.10 Td (. ) Tj ET Q q 0 0 0 rg BT 508.30 341.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 568.01 341.10 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (non-income producing investments were not material for the years ended December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.99 329.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.99 329.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.99 329.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.99 329.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.42 329.10 Td (201) Tj ET Q q 0 0 0 rg BT 464.05 329.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.05 329.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (Net investment income on equity securities, trading, includes dividend income and the changes in market value of the securities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.10 Td (associated with the variable annuity products previously sold in Japan. ) Tj ET Q q 0 0 0 rg BT 315.98 299.10 Td (The returns on these policyholder) Tj ET Q q 0 0 0 rg BT 450.18 299.10 Td (-directed investments inure to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.10 Td (the benefit of the variable annuity policyholders but the underlying funds do not meet the criteria for separate account reporting. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 80.84 275.10 Td (, these assets are reflected in the Company) Tj ET Q q 0 0 0 rg BT 253.55 275.10 Td (s general account and the returns credited to the policyholders are reflected in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.10 Td (interest credited, a component of benefits, losses and loss adjustment expenses.) Tj ET Q endstream endobj 299 0 obj <> endobj 300 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 729.35 Td (1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 96.27 729.35 Td (esentation and Significant ) Tj ET Q q 0 0 0 rg BT 220.04 729.35 Td (Accounting Policies \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-13) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Derivative Instruments) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Overview) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 679.25 Td (The Company utilizes a variety of over) Tj ET Q q 0 0 0 rg BT 187.92 679.25 Td (-the-counter \("OTC"\) derivatives, including transactions cleared through a central clearing house ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 667.25 Td (\("OTC-cleared"\), and exchange-traded derivative instruments as part of its overall risk management strategy) Tj ET Q q 0 0 0 rg BT 464.68 667.25 Td (. ) Tj ET Q q 0 0 0 rg BT 472.00 667.25 Td (The types of instruments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 655.25 Td (may include swaps, caps, floors, forwards, futures and options to achieve one of four Company-approved objectives: to hedge risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 643.25 Td (arising from interest rate, equity market, credit spread and issuer default, price or currency exchange rate risk or volatility; to manage ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 631.25 Td (liquidity; to control transaction costs; or to enter into replication transactions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 615.25 Td (Interest rate, volatility) Tj ET Q q 0 0 0 rg BT 119.43 615.25 Td (, dividend, credit default and index swaps involve the periodic exchange of cash flows with other parties, at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 603.25 Td (specified intervals, calculated using agreed upon rates or other financial variables and notional principal amounts. Generally) Tj ET Q q 0 0 0 rg BT 527.61 603.25 Td (, no cash or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 591.25 Td (principal payments are exchanged at the inception of the contract. ) Tj ET Q q 0 0 0 rg BT 297.04 591.25 Td (T) Tj ET Q q 0 0 0 rg BT 302.45 591.25 Td (ypically) Tj ET Q q 0 0 0 rg BT 334.01 591.25 Td (, at the time a swap is entered into, the cash flow streams ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 579.25 Td (exchanged by the counterparties are equal in value.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (Interest rate cap and floor contracts entitle the purchaser to receive from the issuer at specified dates, the amount, if any) Tj ET Q q 0 0 0 rg BT 508.99 563.25 Td (, by which a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (specified market rate exceeds the cap strike interest rate or falls below the floor strike interest rate, applied to a notional principal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (amount. ) Tj ET Q q 0 0 0 rg BT 65.94 539.25 Td (A) Tj ET Q q 0 0 0 rg BT 72.61 539.25 Td ( premium payment is made by the purchaser of the contract at its inception and no principal payments are exchanged.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 523.25 Td (Forward contracts are customized commitments that specify a rate of interest or currency exchange rate to be paid or received on an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 511.25 Td (obligation beginning on a future start date and are typically settled in cash.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 495.25 Td (Financial futures are standardized commitments to either purchase or sell designated financial instruments, at a future date, for a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 483.25 Td (specified price and may be settled in cash or through delivery of the underlying instrument. Futures contracts trade on or) Tj ET Q q 0 0 0 rg BT 513.40 483.25 Td (ganized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 471.25 Td (exchanges. Mar) Tj ET Q q 0 0 0 rg BT 94.63 471.25 Td (gin requirements for futures are met by pledging securities or cash, and changes in the futures) Tj ET Q q 0 0 0 rg BT 472.09 471.25 Td ( contract values are settled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 459.25 Td (daily in cash.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (Option contracts grant the purchaser) Tj ET Q q 0 0 0 rg BT 176.60 443.25 Td (, for a premium payment, the right to either purchase from or sell to the issuer a financial instrument ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.25 Td (at a specified price, within a specified period or on a stated date.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 415.25 Td (Foreign currency swaps exchange an initial principal amount in two currencies, agreeing to re-exchange the currencies at a future date, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 403.25 Td (at an agreed upon exchange rate. ) Tj ET Q q 0 0 0 rg BT 164.86 403.25 Td (There may also be a periodic exchange of payments at specified intervals calculated using the agreed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 391.25 Td (upon rates and exchanged principal amounts.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 375.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 375.25 Td (s derivative transactions are used in strategies permitted under the derivative use plans required by the State of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 363.25 Td (Connecticut, the State of Illinois and the State of New ) Tj ET Q q 0 0 0 rg BT 249.69 363.25 Td (Y) Tj ET Q q 0 0 0 rg BT 255.91 363.25 Td (ork insurance departments.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (Accounting and Financial Statement Pr) Tj ET Q q 0 0 0 rg BT 189.99 347.25 Td (esentation of Derivative Instruments and Hedging ) Tj ET Q q 0 0 0 rg BT 392.55 347.25 Td (Activities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 331.25 Td (Derivative instruments are recognized on the Consolidated Balance Sheets at fair value and are reported in Other Investments and Other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 319.25 Td (Liabilities. For balance sheet presentation purposes, the Company has elected to of) Tj ET Q q 0 0 0 rg BT 362.61 319.25 Td (fset the fair value amounts, income accruals, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 307.25 Td (related cash collateral receivables and payables of OTC derivative instruments executed in a legal entity and with the same counterparty ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 295.25 Td (or under a master netting agreement, which provides the Company with the legal right of of) Tj ET Q q 0 0 0 rg BT 397.88 295.25 Td (fset. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 279.25 Td (During 2013, the Company began clearing interest rate swap and certain credit default swap derivative transactions through central ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 267.25 Td (clearing houses. OTC-cleared derivatives require initial collateral at the inception of the trade in the form of cash or highly liquid ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 255.25 Td (collateral, such as U.S. ) Tj ET Q q 0 0 0 rg BT 125.46 255.25 Td (T) Tj ET Q q 0 0 0 rg BT 131.22 255.25 Td (reasuries and government agency investments. Central clearing houses also require additional cash collateral as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 243.25 Td (variation mar) Tj ET Q q 0 0 0 rg BT 84.91 243.25 Td (gin based on daily market value movements. For information on collateral, see the derivative collateral arrangements ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 231.25 Td (section in Note 6 - Investments and Derivative Instruments. In addition, OTC-cleared transactions include price alignment interest either ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 219.25 Td (received or paid on the variation mar) Tj ET Q q 0 0 0 rg BT 179.03 219.25 Td (gin, which is reflected in net investment income. ) Tj ET Q q 0 0 0 rg BT 376.02 219.25 Td (The Company has also elected to of) Tj ET Q q 0 0 0 rg BT 519.13 219.25 Td (fset the fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 207.25 Td (value amounts, income accruals and related cash collateral receivables and payables of OTC-cleared derivative instruments based on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 195.25 Td (clearing house agreements. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.25 Td (On the date the derivative contract is entered into, the Company designates the derivative as \(1\)a hedge of the fair value of a recognized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.25 Td (asset or liability \(fair value hedge\), \(2\)a hedge of the variability in cash flows of a forecasted transaction or of amounts to be received ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.25 Td (or paid related to a recognized asset or liability \(cash flow hedge\), \(3\)a hedge of a net investment in a foreign operation \(net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.25 Td (investment hedge\) or \(4\)held for other investment and/or risk management purposes, which primarily involve managing asset or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.25 Td (liability related risks and do not qualify for hedge accounting.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 113.9169921875 m 105.1865234375 113.9169921875 l s q 0 0 0 rg BT 31.50 115.25 Td (Fair ) Tj ET Q q 0 0 0 rg BT 49.93 115.25 Td (V) Tj ET Q q 0 0 0 rg BT 56.04 115.25 Td (alue Hedges) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 99.25 Td (Changes in the fair value of a derivative that is designated and qualifies as a fair value hedge, including foreign-currency fair value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 87.25 Td (hedges, along with the changes in the fair value of the hedged asset or liability that is attributable to the hedged risk, are recorded in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 75.25 Td (current period earnings with any dif) Tj ET Q q 0 0 0 rg BT 174.88 75.25 Td (ferences between the net change in fair value of the derivative and the hedged item representing the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 63.25 Td (hedge inef) Tj ET Q q 0 0 0 rg BT 73.24 63.25 Td (fectiveness. Periodic cash flows and accruals of income/expense \(periodic derivative net coupon settlements\) are recorded ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 51.25 Td (in the line item of the consolidated statements of operations in which the cash flows of the hedged item are recorded.) Tj ET Q endstream endobj 301 0 obj <> endobj 302 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 729.35 Td (1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 96.27 729.35 Td (esentation and Significant ) Tj ET Q q 0 0 0 rg BT 220.04 729.35 Td (Accounting Policies \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-14) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 711.7669921875 m 107.0517578125 711.7669921875 l s q 0 0 0 rg BT 31.50 713.10 Td (Cash Flow Hedges) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (Changes in the fair value of a derivative that is designated and qualifies as a cash flow hedge, including foreign-currency cash flow ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (hedges, are recorded in ) Tj ET Q q 0 0 0 rg BT 126.18 683.10 Td (AOCI and are reclassified into earnings when the variability of the cash flow of the hedged item impacts ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (earnings. Gains and losses on derivative contracts that are reclassified from ) Tj ET Q q 0 0 0 rg BT 334.73 671.10 Td (AOCI to current period earnings are included in the line item ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (in the consolidated statements of operations in which the cash flows of the hedged item are recorded. ) Tj ET Q q 0 0 0 rg BT 437.49 659.10 Td (Any hedge inef) Tj ET Q q 0 0 0 rg BT 498.95 659.10 Td (fectiveness is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (recorded immediately in current period earnings as net realized capital gains and losses. Periodic derivative net coupon settlements are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (recorded in the line item of the consolidated statements of operations in which the cash flows of the hedged item are recorded.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 615.7669921875 m 218.6728515625 615.7669921875 l s q 0 0 0 rg BT 31.50 617.10 Td (Net Investment in a Foreign Operation Hedges) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (Changes in fair value of a derivative used as a hedge of a net investment in a foreign operation, to the extent ef) Tj ET Q q 0 0 0 rg BT 474.21 599.10 Td (fective as a hedge, are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (recorded in the foreign currency translation adjustments account within ) Tj ET Q q 0 0 0 rg BT 318.91 587.10 Td (AOCI. Cumulative changes in fair value recorded in ) Tj ET Q q 0 0 0 rg BT 530.23 587.10 Td (AOCI are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (reclassified into earnings upon the sale or complete, or substantially complete, liquidation of the foreign entity) Tj ET Q q 0 0 0 rg BT 472.12 575.10 Td (. ) Tj ET Q q 0 0 0 rg BT 476.57 575.10 Td (Any hedge ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (inef) Tj ET Q q 0 0 0 rg BT 46.87 563.10 Td (fectiveness is recorded immediately in current period earnings as net realized capital gains and losses. Periodic derivative net coupon ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (settlements are recorded in the line item of the consolidated statements of operations in which the cash flows of the hedged item are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (recorded.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 519.7669921875 m 245.62109375 519.7669921875 l s q 0 0 0 rg BT 31.50 521.10 Td (Other Investment and/or Risk Management ) Tj ET Q q 0 0 0 rg BT 206.74 521.10 Td (Activities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 503.10 Td (s other investment and/or risk management activities primarily relate to strategies used to reduce economic risk or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.10 Td (replicate permitted investments and do not receive hedge accounting treatment. Changes in the fair value, including periodic derivative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.10 Td (net coupon settlements, of derivative instruments held for other investment and/or risk management purposes are reported in current ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.10 Td (period earnings as net realized capital gains and losses.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (Hedge Documentation and Effectiveness T) Tj ET Q q 0 0 0 rg BT 201.09 449.10 Td (esting) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.10 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 431.10 Td (o qualify for hedge accounting treatment, a derivative must be highly ef) Tj ET Q q 0 0 0 rg BT 323.85 431.10 Td (fective in mitigating the designated changes in fair value or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.10 Td (cash flow of the hedged item. ) Tj ET Q q 0 0 0 rg BT 151.74 419.10 Td (At hedge inception, the Company formally documents all relationships between hedging instruments and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.10 Td (hedged items, as well as its risk-management objective and strategy for undertaking each hedge transaction. ) Tj ET Q q 0 0 0 rg BT 465.34 407.10 Td (The documentation process ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.10 Td (includes linking derivatives that are designated as fair value, cash flow) Tj ET Q q 0 0 0 rg BT 313.81 395.10 Td (, or net investment hedges to specific assets or liabilities on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (balance sheet or to specific forecasted transactions and defining the ef) Tj ET Q q 0 0 0 rg BT 311.20 383.10 Td (fectiveness and inef) Tj ET Q q 0 0 0 rg BT 390.43 383.10 Td (fectiveness testing methods to be used. ) Tj ET Q q 0 0 0 rg BT 548.27 383.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (Company also formally assesses both at the hedge) Tj ET Q q 0 0 0 rg BT 235.07 371.10 Td (s inception and ongoing on a quarterly basis, whether the derivatives that are used in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.10 Td (hedging transactions have been and are expected to continue to be highly ef) Tj ET Q q 0 0 0 rg BT 333.99 359.10 Td (fective in of) Tj ET Q q 0 0 0 rg BT 382.12 359.10 Td (fsetting changes in fair values or cash flows of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.10 Td (hedged items. Hedge ef) Tj ET Q q 0 0 0 rg BT 125.73 347.10 Td (fectiveness is assessed primarily using quantitative methods as well as using qualitative methods. Quantitative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.10 Td (methods include regression or other statistical analysis of changes in fair value or cash flows associated with the hedge relationship. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.10 Td (Qualitative methods may include comparison of critical terms of the derivative to the hedged item. Hedge inef) Tj ET Q q 0 0 0 rg BT 472.56 323.10 Td (fectiveness of the hedge ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (relationships are measured each reporting period using the Change in ) Tj ET Q q 0 0 0 rg BT 315.11 311.10 Td (V) Tj ET Q q 0 0 0 rg BT 321.23 311.10 Td (ariable Cash Flows Method, the Change in Fair ) Tj ET Q q 0 0 0 rg BT 521.84 311.10 Td (V) Tj ET Q q 0 0 0 rg BT 527.95 311.10 Td (alue ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.10 Td (Method, the Hypothetical Derivative Method, or the Dollar Of) Tj ET Q q 0 0 0 rg BT 299.00 299.10 Td (fset Method.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 281.10 Td (Discontinuance of Hedge ) Tj ET Q q 0 0 0 rg BT 135.46 281.10 Td (Accounting) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.10 Td (The Company discontinues hedge accounting prospectively when \(1\)it is determined that the derivative is no longer highly ef) Tj ET Q q 0 0 0 rg BT 535.63 263.10 Td (fective in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.10 Td (of) Tj ET Q q 0 0 0 rg BT 39.65 251.10 Td (fsetting changes in the fair value or cash flows of a hedged item; \(2\)the derivative is de-designated as a hedging instrument; or \(3\)the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.10 Td (derivative expires or is sold, terminated or exercised.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.10 Td (When hedge accounting is discontinued because it is determined that the derivative no longer qualifies as an ef) Tj ET Q q 0 0 0 rg BT 474.78 221.10 Td (fective fair) Tj ET Q q 0 0 0 rg BT 518.16 221.10 Td (-value hedge, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.10 Td (the derivative continues to be carried at fair value on the balance sheet with changes in its fair value recognized in current period ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.10 Td (earnings. Changes in the fair value of the hedged item attributable to the hedged risk is no longer adjusted through current period ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.10 Td (earnings and the existing basis adjustment is amortized to earnings over the remaining life of the hedge item through the applicable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.10 Td (earnings component associated with the hedged item. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.10 Td (When hedge accounting is discontinued because the Company becomes aware that it is not probable that the forecasted transaction will ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.10 Td (occur) Tj ET Q q 0 0 0 rg BT 53.31 143.10 Td (, the derivative continues to be carried on the balance sheet at its fair value, and gains and losses that were accumulated in ) Tj ET Q q 0 0 0 rg BT 542.85 143.10 Td (AOCI ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.10 Td (are recognized immediately in earnings.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.10 Td (In other situations in which hedge accounting is discontinued on a cash-flow hedge, including those where the derivative is sold, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.10 Td (terminated or exercised, amounts previously deferred in ) Tj ET Q q 0 0 0 rg BT 256.98 101.10 Td (AOCI are reclassified into earnings when earnings are impacted by the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.10 Td (variability of the cash flow of the hedged item.) Tj ET Q endstream endobj 303 0 obj <> endobj 304 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 729.35 Td (1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 96.27 729.35 Td (esentation and Significant ) Tj ET Q q 0 0 0 rg BT 220.04 729.35 Td (Accounting Policies \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-15) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Embedded Derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The Company purchases and issues financial instruments and products that contain embedded derivative instruments. ) Tj ET Q q 0 0 0 rg BT 503.70 695.10 Td (When it is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (determined that \(1\)the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (characteristics of the host contract, and \(2\)a separate instrument with the same terms would qualify as a derivative instrument, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (embedded derivative is bifurcated from the host for measurement purposes. ) Tj ET Q q 0 0 0 rg BT 335.94 659.10 Td (The embedded derivative, which is reported with the host ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (instrument in the consolidated balance sheets, is carried at fair value with changes in fair value reported in net realized capital gains and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (losses.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 41.69 617.10 Td (edit Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (Credit risk is defined as the risk of financial loss due to uncertainty of an obligor) Tj ET Q q 0 0 0 rg BT 354.29 599.10 Td () Tj ET Q q 0 0 0 rg BT 357.07 599.10 Td (s or counterparty) Tj ET Q q 0 0 0 rg BT 427.60 599.10 Td (s ability or willingness to meet its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (obligations in accordance with agreed upon terms. Credit exposures are measured using the market value of the derivatives, resulting in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (amounts owed to the Company by its counterparties or potential payment obligations from the Company to its counterparties. ) Tj ET Q q 0 0 0 rg BT 538.44 575.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (Company generally requires that OTC derivative contracts, other than certain forward contracts, be governed by International Swaps and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (Derivatives ) Tj ET Q q 0 0 0 rg BT 79.54 551.10 Td (Association \("ISDA"\) agreements which are structured by legal entity and by counterparty) Tj ET Q q 0 0 0 rg BT 441.11 551.10 Td (, and permit right of of) Tj ET Q q 0 0 0 rg BT 532.02 551.10 Td (fset. ) Tj ET Q q 0 0 0 rg BT 551.28 551.10 Td (These ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (agreements require daily collateral settlement based upon agreed upon thresholds. For purposes of daily derivative collateral ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (maintenance, credit exposures are generally quantified based on the prior business day) Tj ET Q q 0 0 0 rg BT 380.26 527.10 Td (s market value and collateral is pledged to and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.10 Td (held by) Tj ET Q q 0 0 0 rg BT 60.57 515.10 Td (, or on behalf of, the Company to the extent the current value of the derivatives exceed the contractual thresholds. For the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.10 Td (Company) Tj ET Q q 0 0 0 rg BT 73.17 503.10 Td (s domestic derivative programs, the maximum uncollateralized threshold for a derivative counterparty for a single legal entity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.10 Td (is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.67 491.10 Td ($10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.67 491.10 Td (. ) Tj ET Q q 0 0 0 rg BT 60.49 491.10 Td (The Company also minimizes the credit risk of derivative instruments by entering into transactions with high quality ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.10 Td (counterparties rated ) Tj ET Q q 0 0 0 rg BT 112.57 479.10 Td (A) Tj ET Q q 0 0 0 rg BT 119.24 479.10 Td ( or better) Tj ET Q q 0 0 0 rg BT 154.94 479.10 Td (, which are monitored and evaluated by the Company) Tj ET Q q 0 0 0 rg BT 371.82 479.10 Td (s risk management team and reviewed by senior ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.10 Td (management. OTC-cleared derivatives are governed by clearing house rules. ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 340.54 467.10 Td (T) Tj ET Q q 0 0 0 rg BT 346.18 467.10 Td (ransactions cleared through a central clearing house reduce ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 455.30 Td (risk due to their ability to require daily variation mar) Tj ET Q q 0 0 0 rg BT 237.88 455.30 Td (gin, monitor the Company's ability to request additional collateral in the event of a ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 443.30 Td (counterparty downgrade, and act as an independent valuation source. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.43 443.30 Td (In addition, the Company monitors counterparty credit exposure on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.30 Td (a monthly basis to ensure compliance with Company policies and statutory limitations. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 413.30 Td (Cash) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.30 Td (Cash represents cash on hand and demand deposits with banks or other financial institutions.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 377.30 Td (Reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.30 Td (The Company cedes insurance to af) Tj ET Q q 0 0 0 rg BT 174.32 359.30 Td (filiated and unaf) Tj ET Q q 0 0 0 rg BT 239.67 359.30 Td (filiated insurers in order to limit its maximum losses and to diversify its exposures ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.30 Td (and provide statutory surplus relief. Such arrangements do not relieve the Company of its primary liability to policyholders. Failure of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.30 Td (reinsurers to honor their obligations could result in losses to the Company) Tj ET Q q 0 0 0 rg BT 326.64 335.30 Td (. ) Tj ET Q q 0 0 0 rg BT 331.46 335.30 Td (The Company also assumes reinsurance from other insurers ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.30 Td (and is a member of and participates in reinsurance pools and associations. ) Tj ET Q q 0 0 0 rg BT 328.91 323.30 Td (Assumed reinsurance refers to the Company) Tj ET Q q 0 0 0 rg BT 509.14 323.30 Td (s acceptance of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.30 Td (certain insurance risks that other insurance companies have underwritten.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.30 Td (Reinsurance accounting is followed for ceded and assumed transactions that provide indemnification against loss or liability relating to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.30 Td (insurance risk \(i.e. risk transfer\). ) Tj ET Q q 0 0 0 rg BT 164.05 281.30 Td (T) Tj ET Q q 0 0 0 rg BT 169.46 281.30 Td (o meet risk transfer requirements, a reinsurance agreement must include insurance risk, consisting of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.30 Td (underwriting, investment, and timing risk, and a reasonable possibility of a significant loss to the reinsurer) Tj ET Q q 0 0 0 rg BT 456.42 269.30 Td (. If the ceded and assumed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.30 Td (transactions do not meet risk transfer requirements, the Company accounts for these transactions as financing transactions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.30 Td (Premiums, benefits, losses and loss adjustment expenses reflect the net ef) Tj ET Q q 0 0 0 rg BT 325.14 239.30 Td (fects of ceded and assumed reinsurance transactions. Included ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.30 Td (in other assets are prepaid reinsurance premiums, which represent the portion of premiums ceded to reinsurers applicable to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.30 Td (unexpired terms of the reinsurance contracts. Included in reinsurance recoverables are balances due from reinsurance companies for paid ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.30 Td (and unpaid losses and loss adjustment expenses and are presented net of an allowance for uncollectible reinsurance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.30 Td (The Company also is a member of and participates in several reinsurance pools and associations. ) Tj ET Q q 0 0 0 rg BT 421.20 185.30 Td (The Company evaluates the financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.30 Td (condition of its reinsurers and concentrations of credit risk. Reinsurance is placed with reinsurers that meet strict financial criteria ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.30 Td (established by the Company) Tj ET Q q 0 0 0 rg BT 143.89 161.30 Td (. ) Tj ET Q q 0 0 0 rg BT 151.21 161.30 Td (The Company entered into two reinsurance transactions upon completion of the sales of its Retirement ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.30 Td (Plans and Individual Life businesses in January 2013. For further discussion of these transactions, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.58 149.30 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.58 149.30 Td ( - Business Dispositions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.30 Td (and Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.38 137.30 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 75.38 137.30 Td ( - Reinsurance of Notes to Consolidated Financial Statements. ) Tj ET Q endstream endobj 305 0 obj <> endobj 306 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 729.35 Td (1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 96.27 729.35 Td (esentation and Significant ) Tj ET Q q 0 0 0 rg BT 220.04 729.35 Td (Accounting Policies \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-16) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Deferred Policy ) Tj ET Q q 0 0 0 rg BT 98.32 713.25 Td (Acquisition Costs and Present V) Tj ET Q q 0 0 0 rg BT 230.02 713.25 Td (alue of Future Profits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Deferred policy acquisition costs \("DAC"\) represent costs that are directly related to the acquisition of new and renewal insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (contracts and incremental direct costs of contract acquisition that are incurred in transactions with either independent third parties or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (employees. Such costs primarily include commissions, premium taxes, costs of policy issuance and underwriting, and certain other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (expenses that are directly related to successfully issued contracts. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (For property and casualty insurance products and group life, disability and accident contracts, costs are deferred and amortized ratably ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (over the period the related premiums are earned. Deferred acquisition costs are reviewed to determine if they are recoverable from future ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (income, and if not, are char) Tj ET Q q 0 0 0 rg BT 140.99 617.25 Td (ged to expense. ) Tj ET Q q 0 0 0 rg BT 204.86 617.25 Td (Anticipated investment income is considered in the determination of the recoverability of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (DAC. For the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 138.70 605.25 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.78 605.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 197.28 605.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.28 605.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.28 605.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.28 605.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 261.72 605.25 Td (201) Tj ET Q q 0 0 0 rg BT 276.35 605.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.35 605.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.35 605.25 Td (no) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.35 605.25 Td ( amount of DAC was char) Tj ET Q q 0 0 0 rg BT 400.87 605.25 Td (ged to expense based on the determination ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (of recoverability) Tj ET Q q 0 0 0 rg BT 97.21 593.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (For life insurance products, the DAC asset, which includes the present value of future profits, related to most universal life-type ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (contracts \(including variable annuities\) is amortized over the estimated life of the contracts acquired in proportion to the present value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (estimated gross profits \(EGPs\). EGPs are also used to amortize other assets and liabilities in the Company) Tj ET Q q 0 0 0 rg BT 467.24 551.25 Td (s Consolidated Balance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (Sheets, such as, sales inducement assets \(SIA\) and unearned revenue reserves \(URR\). Components of EGPs are used to determine ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (reserves for universal life-type contracts \(including variable annuities\) with death or other insurance benefits such as guaranteed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (minimum death, guaranteed minimum income and universal life secondary guarantee benefits. ) Tj ET Q q 0 0 0 rg BT 412.03 515.25 Td (These benefits are accounted for and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (collectively referred to as death and other insurance benefit reserves and are held in addition to the account value liability representing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (policyholder funds.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (For most life insurance product contracts, the Company estimates gross profits over ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.93 473.25 Td (20 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.53 473.25 Td (as EGPs emer) Tj ET Q q 0 0 0 rg BT 460.94 473.25 Td (ging subsequent to that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (timeframe are immaterial. Products sold in a particular year are aggregated into cohorts. Future gross profits for each cohort are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (projected over the estimated lives of the underlying contracts, based on future account value projections for variable annuity and variable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (universal life products. ) Tj ET Q q 0 0 0 rg BT 125.74 437.25 Td (The projection of future account values requires the use of certain assumptions including: separate account ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (returns; separate account fund mix; fees assessed against the contract holder) Tj ET Q q 0 0 0 rg BT 336.20 425.25 Td () Tj ET Q q 0 0 0 rg BT 338.98 425.25 Td (s account balance; surrender and lapse rates; interest ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (mar) Tj ET Q q 0 0 0 rg BT 46.87 413.25 Td (gin; mortality; and the extent and duration of hedging activities and hedging costs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.25 Td (The Company determines EGPs from a single deterministic reversion to mean \(R) Tj ET Q q 0 0 0 rg BT 360.54 395.25 Td (TM\) separate account return projection which is an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (estimation technique commonly used by insurance entities to project future separate account returns. ) Tj ET Q q 0 0 0 rg BT 436.19 383.25 Td (Through this estimation technique, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.25 Td (the Company) Tj ET Q q 0 0 0 rg BT 87.88 371.25 Td (s DAC model is adjusted to reflect actual account values at the end of each quarter) Tj ET Q q 0 0 0 rg BT 417.48 371.25 Td (. ) Tj ET Q q 0 0 0 rg BT 422.30 371.25 Td (Through consideration of recent ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.25 Td (market returns, the Company will unlock, or adjust, projected returns over a future period so that the account value returns to the long-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.25 Td (term expected rate of return, providing that those projected returns do not exceed certain caps or floors. ) Tj ET Q q 0 0 0 rg BT 446.99 347.25 Td (This Unlock for future separate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (account returns is determined each quarter) Tj ET Q q 0 0 0 rg BT 200.59 335.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.25 Td (In the third quarter of each year) Tj ET Q q 0 0 0 rg BT 157.70 317.25 Td (, the Company completes a comprehensive non-market related policyholder behavior assumption study ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.25 Td (and incorporates the results of those studies into its projection of future gross profits. ) Tj ET Q q 0 0 0 rg BT 372.83 305.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 422.73 305.25 Td (, throughout the year) Tj ET Q q 0 0 0 rg BT 505.64 305.25 Td (, the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.25 Td (evaluates various aspects of policyholder behavior and periodically revises its policyholder assumptions as credible emer) Tj ET Q q 0 0 0 rg BT 515.62 293.25 Td (ging data ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.25 Td (indicates that changes are warranted. ) Tj ET Q q 0 0 0 rg BT 181.25 281.25 Td (The Company will continue to evaluate its assumptions related to policyholder behavior as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.25 Td (initiatives to reduce the size of the variable annuity business are implemented by management. Upon completion of an annual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.25 Td (assumption study or evaluation of credible new information, the Company will revise its assumptions to reflect its current best estimate. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.25 Td (These assumption revisions will change the projected account values and the related EGPs in the DAC, SIA) Tj ET Q q 0 0 0 rg BT 462.78 245.25 Td ( and URR amortization ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (models, as well as, the death and other insurance benefit reserving models.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (All assumption changes that af) Tj ET Q q 0 0 0 rg BT 154.63 215.25 Td (fect the estimate of future EGPs including the update of current account values, the use of the R) Tj ET Q q 0 0 0 rg BT 537.23 215.25 Td (TM ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.25 Td (estimation technique and policyholder behavior assumptions are considered an Unlock in the period of revision. ) Tj ET Q q 0 0 0 rg BT 481.38 203.25 Td (An Unlock adjusts the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.25 Td (DAC, SIA, URR and death and other insurance benefit reserve balances in the Consolidated Balance Sheets with an of) Tj ET Q q 0 0 0 rg BT 506.18 191.25 Td (fsetting benefit or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.25 Td (char) Tj ET Q q 0 0 0 rg BT 48.53 179.25 Td (ge in the Consolidated Statements of Operations in the period of the revision. ) Tj ET Q q 0 0 0 rg BT 359.58 179.25 Td (An Unlock revises EGPs to reflect the Company) Tj ET Q q 0 0 0 rg BT 556.48 179.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.25 Td (current best estimate assumptions. ) Tj ET Q q 0 0 0 rg BT 171.01 167.25 Td (The Company also tests the aggregate recoverability of DAC by comparing the existing DAC balance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.25 Td (to the present value of future EGPs. ) Tj ET Q q 0 0 0 rg BT 176.47 155.25 Td (An Unlock that results in an after) Tj ET Q q 0 0 0 rg BT 309.56 155.25 Td (-tax benefit generally occurs as a result of actual experience or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.25 Td (future expectations of product profitability being favorable compared to previous estimates. ) Tj ET Q q 0 0 0 rg BT 400.27 143.25 Td (An Unlock that results in an after) Tj ET Q q 0 0 0 rg BT 533.37 143.25 Td (-tax char) Tj ET Q q 0 0 0 rg BT 568.44 143.25 Td (ge ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.25 Td (generally occurs as a result of actual experience or future expectations of product profitability being unfavorable compared to previous ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 119.25 Td (estimates.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 101.25 Td (Income T) Tj ET Q q 0 0 0 rg BT 70.30 101.25 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 83.25 Td (The Company recognizes taxes payable or refundable for the current year and deferred taxes for the tax consequences of dif) Tj ET Q q 0 0 0 rg BT 526.93 83.25 Td (ferences ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 71.25 Td (between the financial reporting and tax basis of assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 59.25 Td (rates expected to apply to taxable income in the years the temporary dif) Tj ET Q q 0 0 0 rg BT 317.32 59.25 Td (ferences are expected to reverse.) Tj ET Q endstream endobj 307 0 obj <> endobj 308 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 729.35 Td (1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 96.27 729.35 Td (esentation and Significant ) Tj ET Q q 0 0 0 rg BT 220.04 729.35 Td (Accounting Policies \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-17) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Goodwill) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Goodwill represents the excess of costs over the fair value of net assets acquired. Goodwill is not amortized but is reviewed for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (impairment at least annually or more frequently if events occur or circumstances change that would indicate that a triggering event for a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (potential impairment has occurred. During the fourth quarter of 201) Tj ET Q q 0 0 0 rg BT 302.15 671.25 Td (1, the Company changed the date of its annual impairment test for all ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (reporting units to October31) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 147.59 663.78 Td (st) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.92 659.25 Td (. ) Tj ET Q q 0 0 0 rg BT 158.87 659.25 Td (As a result, all reporting units performed an impairment test on October31, 201) Tj ET Q q 0 0 0 rg BT 478.14 659.25 Td (1 in addition to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (annual impairment tests performed on January 1) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 224.78 651.78 Td (st) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 229.11 647.25 Td ( or October 1) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 282.15 651.78 Td (st,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.11 647.25 Td ( 201) Tj ET Q q 0 0 0 rg BT 305.24 647.25 Td (1, as applicable. ) Tj ET Q q 0 0 0 rg BT 371.98 647.25 Td (The change was made to be consistent across all ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (reporting units and to more closely align the impairment testing date with the long-range planning and forecasting process. ) Tj ET Q q 0 0 0 rg BT 524.80 635.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (Company has determined that this change in accounting principle is preferable under the circumstances and does not result in any delay) Tj ET Q q 0 0 0 rg BT 573.45 623.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (acceleration or avoidance of impairment. ) Tj ET Q q 0 0 0 rg BT 197.54 611.25 Td (As it was impracticable to objectively determine projected cash flows and related valuation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (estimates as of each October31 for periods prior to October31, 201) Tj ET Q q 0 0 0 rg BT 303.55 599.25 Td (1, without applying information that has been learned since those ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (periods, the Company has prospectively applied the change in the annual goodwill impairment testing date from October31, 201) Tj ET Q q 0 0 0 rg BT 547.11 587.25 Td (1.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (The goodwill impairment test follows a two-step process. In the first step, the fair value of a reporting unit is compared to its carrying ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (value. If the carrying value of a reporting unit exceeds its fair value, the second step of the impairment test is performed for purposes of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (measuring the impairment. In the second step, the fair value of the reporting unit is allocated to all of the assets and liabilities of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (reporting unit to determine an implied goodwill value. If the carrying amount of the reporting unit) Tj ET Q q 0 0 0 rg BT 426.40 533.25 Td (s goodwill exceeds the implied ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (goodwill value, an impairment loss is recognized in an amount equal to that excess.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (Management) Tj ET Q q 0 0 0 rg BT 86.48 503.25 Td (s determination of the fair value of each reporting unit incorporates multiple inputs into discounted cash flow calculations, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (including assumptions that market participants would make in valuing the reporting unit. ) Tj ET Q q 0 0 0 rg BT 388.94 491.25 Td (Assumptions include levels of economic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (capital, future business growth, earnings projections and assets under management for certain reporting units and the weighted average ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.25 Td (cost of capital used for purposes of discounting. Decreases in the amount of economic capital allocated to a reporting unit, decreases in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.25 Td (business growth, decreases in earnings projections and increases in the weighted average cost of capital will all cause a reporting unit) Tj ET Q q 0 0 0 rg BT 567.71 455.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (fair value to decrease.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (Goodwill within Corporate is primarily attributed to the Company) Tj ET Q q 0 0 0 rg BT 298.68 425.25 Td (s buy-back of Hartford Life, Inc. in 2000 and was allocated to each ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (of Hartford Life) Tj ET Q q 0 0 0 rg BT 98.69 413.25 Td (s reporting units based on the reporting unit) Tj ET Q q 0 0 0 rg BT 276.16 413.25 Td (s fair value of in-force business at the buy-back date. ) Tj ET Q q 0 0 0 rg BT 489.70 413.25 Td (Although this ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (goodwill was allocated to each reporting unit, it is held in Corporate for segment reporting.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (Property and Equipment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (Property and equipment is carried at cost net of accumulated depreciation. Depreciation is based on the estimated useful lives of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.25 Td (various classes of property and equipment and is determined principally on the straight-line method. ) Tj ET Q q 0 0 0 rg BT 434.45 353.25 Td (Accumulated depreciation was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.24 353.25 Td ($2.2 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.25 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.61 341.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.05 341.25 Td ($2.0 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 123.17 341.25 Td ( as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 147.33 341.25 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.41 341.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.91 341.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.35 341.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.35 341.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 318.01 341.25 Td (. Depreciation expense was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.91 341.25 Td ($174) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.91 341.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.91 341.25 Td ($183) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.91 341.25 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.85 341.25 Td ($216) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.85 341.25 Td ( for the years ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.25 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.88 329.25 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 113.96 329.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 136.46 329.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.46 329.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.46 329.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.90 329.25 Td (201) Tj ET Q q 0 0 0 rg BT 195.53 329.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.53 329.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 253.19 329.25 Td (.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 311.25 Td (Separate ) Tj ET Q q 0 0 0 rg BT 69.74 311.25 Td (Accounts, Death Benefits and Other Insurance Benefit Features) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.25 Td (The Company records the variable account value portion of variable annuity and variable life insurance products and institutional and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.25 Td (governmental investment contracts within separate accounts. Separate account assets are reported at fair value and separate account ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.25 Td (liabilities are reported at amounts consistent with separate account assets. Investment income and gains and losses from those separate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.25 Td (account assets accrue directly to the policyholder) Tj ET Q q 0 0 0 rg BT 227.69 257.25 Td (, who assumes the related investment risk, and are of) Tj ET Q q 0 0 0 rg BT 438.83 257.25 Td (fset by the related liability changes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.25 Td (reported in the same line item in the Consolidated Statements of Operations. ) Tj ET Q q 0 0 0 rg BT 339.30 245.25 Td (The Company earns fees for investment management, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (certain administrative expenses, and mortality and expense risks assumed which are reported in fee income.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (Certain contracts classified as universal life-type include death and other insurance benefit features including GMDB and GMIB, of) Tj ET Q q 0 0 0 rg BT 558.93 215.25 Td (fered ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.25 Td (with variable annuity contracts. GMDBs and GMIBs have been written in various forms. ) Tj ET Q q 0 0 0 rg BT 389.85 203.25 Td (These death and other insurance benefit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.25 Td (features require an additional liability be held above the account value liability representing the policyholders) Tj ET Q q 0 0 0 rg BT 472.27 191.25 Td ( funds. ) Tj ET Q q 0 0 0 rg BT 501.81 191.25 Td (This liability is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.25 Td (reported in reserve for future policy benefits in the Company) Tj ET Q q 0 0 0 rg BT 277.81 179.25 Td (s Consolidated Balance Sheets. Changes in the death and other insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.25 Td (benefit reserves are recorded in benefits, losses and loss adjustment expenses in the Company) Tj ET Q q 0 0 0 rg BT 409.17 167.25 Td (s Consolidated Statements of Operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.25 Td (The death and other insurance benefit liability is determined by estimating the expected present value of the benefits in excess of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.25 Td (policyholder) Tj ET Q q 0 0 0 rg BT 82.41 137.25 Td () Tj ET Q q 0 0 0 rg BT 85.19 137.25 Td (s expected account value in proportion to the present value of total expected fees. ) Tj ET Q q 0 0 0 rg BT 412.94 137.25 Td (The liability is accrued as actual fees are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.25 Td (earned. ) Tj ET Q q 0 0 0 rg BT 62.96 125.25 Td (The expected present value of benefits and fees are generally derived from a set of stochastic scenarios, that have been calibrated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.25 Td (to our R) Tj ET Q q 0 0 0 rg BT 63.68 113.25 Td (TM separate account returns, and assumptions including market rates of return, volatility) Tj ET Q q 0 0 0 rg BT 418.76 113.25 Td (, discount rates, lapse rates and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.25 Td (mortality experience. Consistent with the Company) Tj ET Q q 0 0 0 rg BT 240.35 101.25 Td (s policy on the Unlock, the Company regularly evaluates estimates used and adjusts ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.25 Td (the additional liability balance, with a related char) Tj ET Q q 0 0 0 rg BT 231.79 89.25 Td (ge or credit to benefits, losses and loss adjustment expense. For further information on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 77.25 Td (the Unlock, see the Deferred Policy ) Tj ET Q q 0 0 0 rg BT 176.17 77.25 Td (Acquisition Costs and Present ) Tj ET Q q 0 0 0 rg BT 298.77 77.25 Td (V) Tj ET Q q 0 0 0 rg BT 304.88 77.25 Td (alue of Future Benefits accounting policy section within this ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 65.25 Td (footnote. ) Tj ET Q endstream endobj 309 0 obj <> endobj 310 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 729.35 Td (1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 96.27 729.35 Td (esentation and Significant ) Tj ET Q q 0 0 0 rg BT 220.04 729.35 Td (Accounting Policies \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The Company reinsures a portion of its in-force GMDB and all of its UL) Tj ET Q q 0 0 0 rg BT 322.46 713.10 Td ( secondary guarantees. ) Tj ET Q q 0 0 0 rg BT 415.57 713.10 Td (The death and other insurance benefit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (reserves, net of reinsurance, are established by estimating the expected value of net reinsurance costs and death and other insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (benefits in excess of the projected account balance. ) Tj ET Q q 0 0 0 rg BT 238.73 689.10 Td (The additional death and other insurance benefits and net reinsurance costs are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (recognized ratably over the accumulation period based on total expected assessments.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (Reserve for Future Policy Benefits and Unpaid Losses and Loss ) Tj ET Q q 0 0 0 rg BT 296.69 659.10 Td (Adjustment Expenses) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 41.13 641.10 Td (operty and Casualty Insurance Pr) Tj ET Q q 0 0 0 rg BT 176.85 641.10 Td (oducts ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (The Hartford establishes property and casualty insurance products reserves to provide for the estimated costs of paying claims under ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (insurance policies written by the Company) Tj ET Q q 0 0 0 rg BT 202.20 611.10 Td (. ) Tj ET Q q 0 0 0 rg BT 207.02 611.10 Td (These reserves include estimates for both claims that have been reported and those that have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (been incurred but not reported, and include estimates of all losses and loss adjustment expenses associated with processing and settling ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (these claims. Estimating the ultimate cost of future losses and loss adjustment expenses is an uncertain and complex process. ) Tj ET Q q 0 0 0 rg BT 533.15 587.10 Td (This ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (estimation process is based significantly on the assumption that past developments are an appropriate predictor of future events, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (involves a variety of actuarial techniques that analyze experience, trends and other relevant factors. ) Tj ET Q q 0 0 0 rg BT 430.58 563.10 Td (The uncertainties involved with the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (reserving process have become increasingly dif) Tj ET Q q 0 0 0 rg BT 220.97 551.10 Td (ficult due to a number of complex factors including social and economic trends and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (changes in the concepts of legal liability and damage awards. ) Tj ET Q q 0 0 0 rg BT 278.36 539.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 327.70 539.10 Td (, final claim settlements may vary from the present estimates, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (particularly when those payments may not occur until well into the future.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (The Hartford regularly reviews the adequacy of its estimated losses and loss adjustment expense reserves by line of business within the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (various reporting segments. ) Tj ET Q q 0 0 0 rg BT 144.26 497.10 Td (Adjustments to previously established reserves are reflected in the operating results of the period in which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (the adjustment is determined to be necessary) Tj ET Q q 0 0 0 rg BT 209.68 485.10 Td (. Such adjustments could possibly be significant, reflecting any variety of new and adverse ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (or favorable trends.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.10 Td (Most of the Company) Tj ET Q q 0 0 0 rg BT 121.77 455.10 Td (s property and casualty insurance products reserves are not discounted. However) Tj ET Q q 0 0 0 rg BT 444.32 455.10 Td (, the Company has discounted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.10 Td (liabilities funded through structured settlements and has discounted certain reserves for indemnity payments due to permanently disabled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.10 Td (claimants under workers) Tj ET Q q 0 0 0 rg BT 132.39 431.10 Td ( compensation policies. Structured settlements are agreements that provide fixed periodic payments to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.10 Td (claimants and include annuities purchased to fund unpaid losses for permanently disabled claimants and, prior to 2008, agreements that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.10 Td (funded loss run-of) Tj ET Q q 0 0 0 rg BT 104.64 407.10 Td (fs for unrelated parties. Most of the annuities have been issued by the Company and these structured settlements are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.10 Td (recorded at present value as annuity obligations, either within the reserve for future policy benefits if the annuity benefits are life-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (contingent or within other policyholder funds and benefits payable if the annuity benefits are not life-contingent. If not funded through ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (an annuity) Tj ET Q q 0 0 0 rg BT 72.78 371.10 Td (, reserves for certain indemnity payments due to permanently disabled claimants under workers) Tj ET Q q 0 0 0 rg BT 457.19 371.10 Td ( compensation policies are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.10 Td (recorded as property and casualty insurance products reserves and were discounted to present value at an average interest rate of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.39 359.10 Td (3.5%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.22 359.10 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 347.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.94 347.10 Td (4.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 91.77 347.10 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 104.55 347.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 124.55 347.10 Td (. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (Life Insurance Pr) Tj ET Q q 0 0 0 rg BT 101.68 329.10 Td (oducts) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 127.78 329.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (Liabilities for future policy benefits are calculated by the net level premium method using interest, withdrawal and mortality ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.10 Td (assumptions appropriate at the time the policies were issued. ) Tj ET Q q 0 0 0 rg BT 276.26 299.10 Td (The methods used in determining the liability for unpaid losses and future ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.10 Td (policy benefits are standard actuarial methods recognized by the ) Tj ET Q q 0 0 0 rg BT 290.57 287.10 Td (American ) Tj ET Q q 0 0 0 rg BT 331.94 287.10 Td (Academy of ) Tj ET Q q 0 0 0 rg BT 383.03 287.10 Td (Actuaries. For the tabular reserves, discount ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (rates are based on the Company) Tj ET Q q 0 0 0 rg BT 161.73 275.10 Td (s earned investment yield and the morbidity/mortality tables used are standard industry tables modified ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.10 Td (to reflect the Company) Tj ET Q q 0 0 0 rg BT 126.19 263.10 Td (s actual experience when appropriate. In particular) Tj ET Q q 0 0 0 rg BT 328.19 263.10 Td (, for the Company) Tj ET Q q 0 0 0 rg BT 403.73 263.10 Td (s group disability known claim reserves, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.10 Td (morbidity table for the early durations of claim is based exclusively on the Company) Tj ET Q q 0 0 0 rg BT 373.36 251.10 Td (s experience, incorporating factors such as gender) Tj ET Q q 0 0 0 rg BT 572.60 251.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.10 Td (elimination period and diagnosis. ) Tj ET Q q 0 0 0 rg BT 167.13 239.10 Td (These reserves are computed such that they are expected to meet the Company) Tj ET Q q 0 0 0 rg BT 484.78 239.10 Td (s future policy ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.10 Td (obligations. Future policy benefits are computed at amounts that, with additions from estimated premiums to be received and with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.10 Td (interest on such reserves compounded annually at certain assumed rates, are expected to be suf) Tj ET Q q 0 0 0 rg BT 410.34 215.10 Td (ficient to meet the Company) Tj ET Q q 0 0 0 rg BT 526.98 215.10 Td (s policy ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.10 Td (obligations at their maturities or in the event of an insured) Tj ET Q q 0 0 0 rg BT 266.44 203.10 Td (s death. Changes in or deviations from the assumptions used for mortality) Tj ET Q q 0 0 0 rg BT 560.74 203.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.10 Td (morbidity) Tj ET Q q 0 0 0 rg BT 70.29 191.10 Td (, expected future premiums and interest can significantly af) Tj ET Q q 0 0 0 rg BT 307.53 191.10 Td (fect the Company) Tj ET Q q 0 0 0 rg BT 381.39 191.10 Td (s reserve levels and related future operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.10 Td (Liabilities for the Company) Tj ET Q q 0 0 0 rg BT 145.09 173.10 Td (s group life and disability contracts, as well as its individual term life insurance policies, include amounts ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.10 Td (for unpaid losses and future policy benefits. Liabilities for unpaid losses include estimates of amounts to fully settle known reported ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.10 Td (claims, as well as claims related to insured events that the Company estimates have been incurred but have not yet been reported. ) Tj ET Q q 0 0 0 rg BT 550.59 149.10 Td (These ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.10 Td (reserve estimates are based on known facts and interpretations of circumstances, and consideration of various internal factors including ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.10 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 86.75 125.10 Td (s experience with similar cases, historical trends involving claim payment patterns, loss payments, pending levels of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.10 Td (unpaid claims, loss control programs and product mix. In addition, the reserve estimates are influenced by consideration of various ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.10 Td (external factors including court decisions, economic conditions and public attitudes. ) Tj ET Q q 0 0 0 rg BT 370.12 101.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 395.75 101.10 Td (fects of inflation are implicitly considered in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.10 Td (the reserving process. Group life and disability contracts with long tail claim liabilities are discounted because the payment pattern and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 77.10 Td (the ultimate costs are reasonably fixed and determinable on an individual claim basis. ) Tj ET Q q 0 0 0 rg BT 376.21 77.10 Td (These reserves were discounted to present value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 65.10 Td (using a weighted average interest rate of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 195.60 65.10 Td (4.71%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.43 65.10 Td ( in 2013 and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.64 65.10 Td (4.86%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.47 65.10 Td ( in 2012.) Tj ET Q endstream endobj 311 0 obj <> endobj 312 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 729.35 Td (1. Basis of Pr) Tj ET Q q 0 0 0 rg BT 96.27 729.35 Td (esentation and Significant ) Tj ET Q q 0 0 0 rg BT 220.04 729.35 Td (Accounting Policies \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-19) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Other Policyholder Funds and Benefits Payable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Other policyholder funds and benefits payable consist of non-variable account values associated with universal life-type contracts and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (investment contracts. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (Universal life-type contracts consist of fixed and variable annuities and universal life insurance. ) Tj ET Q q 0 0 0 rg BT 417.30 665.25 Td (The liability for universal life-type ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (contracts is equal to the balance that accrues to the benefit of the policyholders as of the financial statement date, including credited ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (interest, amounts that have been assessed to compensate the Company for services to be performed over future periods, and any amounts ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (previously assessed against policyholders that are refundable on termination of the contract.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (Investment contracts consist of institutional and governmental products, without life contingencies, including funding agreements, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (certain structured settlements and guaranteed investment contracts. ) Tj ET Q q 0 0 0 rg BT 301.77 599.25 Td (The liability for investment contracts is equal to the balance that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (accrues to the benefit of the contract holder as of the financial statement date, which includes the accumulation of deposits plus credited ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (interest, less withdrawals and amounts assessed through the financial statement date. Contract holder funds include funding agreements ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (held by ) Tj ET Q q 0 0 0 rg BT 63.54 563.25 Td (V) Tj ET Q q 0 0 0 rg BT 69.65 563.25 Td (ariable Interest Entities issuing medium-term notes.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (Foreign Currency T) Tj ET Q q 0 0 0 rg BT 114.47 545.25 Td (ranslation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (Foreign currency translation gains and losses are reflected in stockholders) Tj ET Q q 0 0 0 rg BT 329.83 527.25 Td ( equity as a component of accumulated other comprehensive ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (income \(loss\). ) Tj ET Q q 0 0 0 rg BT 90.47 515.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 150.19 515.25 Td (s foreign subsidiaries) Tj ET Q q 0 0 0 rg BT 237.76 515.25 Td ( balance sheet accounts are translated at the exchange rates in ef) Tj ET Q q 0 0 0 rg BT 493.83 515.25 Td (fect at each year end ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (and income statement accounts are translated at the average rates of exchange prevailing during the year) Tj ET Q q 0 0 0 rg BT 448.26 503.25 Td (. ) Tj ET Q q 0 0 0 rg BT 453.08 503.25 Td (The national currencies of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (international operations are generally their functional currencies.) Tj ET Q endstream endobj 313 0 obj <> endobj 314 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-20) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (2) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 37.00 712.60 Td (. ) Tj ET Q q 0 0 0 rg BT 42.50 712.60 Td (Business ) Tj ET Q q 0 0 0 rg BT 85.60 712.60 Td (Dispositions ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 694.55 Td (Sale of Hartford Life International Limited \("HLIL"\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 676.55 Td (On December 12, 2013, the Company completed the sale of HLIL, an indirect wholly-owned subsidiary) Tj ET Q q 0 0 0 rg BT 447.13 676.55 Td (, in a cash transaction to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 664.55 Td (Columbia Insurance Company) Tj ET Q q 0 0 0 rg BT 153.05 664.55 Td (, a Berkshire Hathaway company) Tj ET Q q 0 0 0 rg BT 285.41 664.55 Td (, for approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.83 664.55 Td ($285) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.83 664.55 Td (. ) Tj ET Q q 0 0 0 rg BT 391.77 664.55 Td (At closing, HLIL) Tj ET Q q 0 0 0 rg BT 460.01 664.55 Td () Tj ET Q q 0 0 0 rg BT 462.79 664.55 Td (s sole asset was its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 652.55 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 71.96 652.55 Td (, Hartford Life Limited, a Dublin-based company that sold variable annuities in the U.K. from 2005 to 2009. ) Tj ET Q q 0 0 0 rg BT 508.62 652.55 Td (The sale ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 640.55 Td (transaction resulted in an after) Tj ET Q q 0 0 0 rg BT 152.36 640.55 Td (-tax loss of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.80 640.55 Td ($102) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.80 640.55 Td ( upon disposition in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.19 640.55 Td (year ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.77 640.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.27 640.55 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.86 640.55 Td (. ) Tj ET Q q 0 0 0 rg BT 450.18 640.55 Td (The operations of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 628.55 Td (Company's U.K. variable annuity business meet the criteria for reporting as discontinued operations. For further information regarding ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 616.55 Td (discontinued operations, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 168.97 616.55 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.97 616.55 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.30 616.55 Td (Discontinued Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.00 616.55 Td ( of Notes to Consolidated Financial Statements. ) Tj ET Q q 0 0 0 rg BT 480.12 616.55 Td (The Company's U.K. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 604.55 Td (variable annuities business is included in the ) Tj ET Q q 0 0 0 rg BT 212.12 604.55 Td (T) Tj ET Q q 0 0 0 rg BT 217.53 604.55 Td (alcott Resolution reporting segment.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 586.55 Td (Sale of Retir) Tj ET Q q 0 0 0 rg BT 84.63 586.55 Td (ement Plans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 568.55 Td (On January 1, 2013, the Company completed the sale of its Retirement Plans business to MassMutual for a ceding commission of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.80 568.55 Td ($355) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.80 568.55 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 556.55 Td (The business sold included products and services provided to corporations pursuant to Section 401\(k\) of the Internal Revenue Code of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 544.55 Td (1986, as amended \(the Code\), and products and services provided to municipalities and not-for) Tj ET Q q 0 0 0 rg BT 419.80 544.55 Td (-profit or) Tj ET Q q 0 0 0 rg BT 455.99 544.55 Td (ganizations under Sections ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 532.55 Td (457 and 403\(b\) of the Code, collectively referred to as government plans. ) Tj ET Q q 0 0 0 rg BT 329.83 532.55 Td (The sale was structured as a reinsurance transaction and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 520.55 Td (resulted in an after) Tj ET Q q 0 0 0 rg BT 105.99 520.55 Td (-tax loss of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 152.93 520.55 Td ($24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.93 520.55 Td ( for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.30 520.55 Td (year ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.89 520.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.39 520.55 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.97 520.55 Td (. ) Tj ET Q q 0 0 0 rg BT 328.79 520.55 Td (The after) Tj ET Q q 0 0 0 rg BT 364.95 520.55 Td (-tax loss is primarily driven by the reduction in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 508.55 Td (goodwill that is non-deductible for income tax purposes. ) Tj ET Q q 0 0 0 rg BT 259.88 508.55 Td (The Company recognized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.68 508.55 Td ($634) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.68 508.55 Td ( in reinsurance loss on disposition of) Tj ET Q q 0 0 0 rg BT 532.15 508.55 Td (fset by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 496.55 Td ($634) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 496.55 Td ( in net realized capital gains for a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.99 496.55 Td ($0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.99 496.55 Td ( impact on income, pre-tax.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 478.55 Td (Upon closing, the Company reinsured ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.92 478.55 Td ($9.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.03 478.55 Td ( of policyholder liabilities and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.06 478.55 Td ($26.3 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.17 478.55 Td ( of separate account liabilities under an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 466.55 Td (indemnity reinsurance arrangement. ) Tj ET Q q 0 0 0 rg BT 180.43 466.55 Td (The reinsurance transaction does not extinguish the Company's primary liability on the insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 454.55 Td (policies issued under the Retirement Plans business. ) Tj ET Q q 0 0 0 rg BT 244.90 454.55 Td (The Company also transferred invested assets with a carrying value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.42 454.55 Td ($9.3 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.53 454.55 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 442.55 Td (net of the ceding commission, to MassMutual and recognized other non-cash decreases in assets totaling ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.94 442.55 Td ($200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.94 442.55 Td ( relating to deferred ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 430.55 Td (acquisition costs, deferred income taxes, goodwill, property and equipment and other assets associated with the disposition. ) Tj ET Q q 0 0 0 rg BT 527.87 430.55 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 418.55 Td (Company will continue to sell retirement plans during a transition period of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.44 418.55 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.44 418.55 Td (-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.77 418.55 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.77 418.55 Td ( months and MassMutual will assume all expenses and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 406.55 Td (risk for these sales through the reinsurance agreement.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 388.55 Td (The Retirement Plans business is included in the ) Tj ET Q q 0 0 0 rg BT 227.96 388.55 Td (T) Tj ET Q q 0 0 0 rg BT 233.37 388.55 Td (alcott Resolution reporting segment. Retirement Plans total revenues were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.73 388.55 Td ($706) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.73 388.55 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 376.55 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 36.50 376.55 Td (766) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 376.55 Td ( and net income \(loss\) was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 160.36 376.55 Td (\($39\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.02 376.55 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.46 376.55 Td ($3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 211.46 376.55 Td (, for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.31 376.55 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.90 376.55 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.34 376.55 Td (201) Tj ET Q q 0 0 0 rg BT 407.96 376.55 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.96 376.55 Td (, respectively) Tj ET Q q 0 0 0 rg BT 465.63 376.55 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 358.55 Td (Sale of Individual Life) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 340.55 Td (On January 2, 2013 the Company completed the sale of its Individual Life insurance business to Prudential for consideration of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.33 340.55 Td ($615) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.33 340.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 328.55 Td (consisting primarily of a ceding commission. ) Tj ET Q q 0 0 0 rg BT 216.85 328.55 Td (The business sold included variable universal life, universal life, and term life insurance. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 316.55 Td (The sale was structured as a reinsurance transaction and resulted in a loss on business disposition consisting of a reinsurance loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 304.55 Td (partially of) Tj ET Q q 0 0 0 rg BT 75.47 304.55 Td (fset by realized capital gains. ) Tj ET Q q 0 0 0 rg BT 194.13 304.55 Td (The Company recognized a reinsurance loss on business disposition of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.63 304.55 Td ($533) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.63 304.55 Td (, pre-tax, which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 292.55 Td (included a goodwill impairment char) Tj ET Q q 0 0 0 rg BT 179.05 292.55 Td (ge of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.82 292.55 Td ($342) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.82 292.55 Td ( and a loss accrual for premium deficiency of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.36 292.55 Td ($191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.36 292.55 Td ( for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.02 292.55 Td (year ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.60 292.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.10 292.55 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.69 292.55 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 280.55 Td (The loss accrual of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 109.80 280.55 Td ($191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.80 280.55 Td (is included in other liabilities as of December31, 2012. For additional information, Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.72 280.55 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.72 280.55 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.05 280.55 Td (Goodwill) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.83 280.55 Td (. Upon ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 268.55 Td (closing the Company recognized an additional ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.78 268.55 Td ($940) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.78 268.55 Td ( in reinsurance loss on disposition of) Tj ET Q q 0 0 0 rg BT 386.25 268.55 Td (fset by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.69 268.55 Td ($940) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.69 268.55 Td ( in realized capital gains for a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.47 268.55 Td ($0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.47 268.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 256.55 Td (impact on income, pre-tax. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 238.55 Td (Upon closing, the Company reinsured ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.92 238.55 Td ($8.7 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.03 238.55 Td ( of policyholder liabilities and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.06 238.55 Td ($5.3 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.17 238.55 Td ( of separate account liabilities under ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 226.55 Td (indemnity reinsurance arrangements. ) Tj ET Q q 0 0 0 rg BT 184.32 226.55 Td (The reinsurance transaction does not extinguish the Company's primary liability on the insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 214.55 Td (policies issued under the Individual Life business. ) Tj ET Q q 0 0 0 rg BT 236.56 214.55 Td (The Company also transferred invested assets with a carrying value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.08 214.55 Td ($8.0 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.19 214.55 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 202.55 Td (exclusive of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.59 202.55 Td ($1.4 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 128.71 202.55 Td ( of assets supporting the modified coinsurance agreement, net of cash transferred in place of short-term ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 190.55 Td (investments, to Prudential and recognized other non-cash decreases in assets totaling ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.07 190.55 Td ($1.8 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.18 190.55 Td ( relating to deferred acquisition costs, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 178.55 Td (deferred income taxes, property and equipment and other assets and other non-cash decreases in liabilities totaling ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.07 178.55 Td ($1.5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.18 178.55 Td ( relating to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 166.55 Td (other liabilities including the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.25 166.55 Td ($191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.25 166.55 Td ( loss accrual for premium deficiency) Tj ET Q q 0 0 0 rg BT 314.93 166.55 Td (, associated with the disposition. ) Tj ET Q q 0 0 0 rg BT 447.24 166.55 Td (The Company will continue to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 154.55 Td (sell life insurance products and riders during a transition period of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.37 154.55 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.37 154.55 Td (-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 311.70 154.55 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.70 154.55 Td ( months and Prudential will assume all expenses and risk for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 142.55 Td (these sales through the reinsurance agreement.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 124.55 Td (The Individual Life business is included in the ) Tj ET Q q 0 0 0 rg BT 219.62 124.55 Td (T) Tj ET Q q 0 0 0 rg BT 225.03 124.55 Td (alcott Resolution reporting segment. Individual Life total revenues were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.55 124.55 Td ($1,381) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.05 124.55 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 112.55 Td ($1,385) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 112.55 Td (, respectively and net income \(loss\) was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.17 112.55 Td (\(172\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 247.83 112.55 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.27 112.55 Td ($1) Tj ET Q q 0 0 0 rg BT 276.90 112.55 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.90 112.55 Td (, for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.75 112.55 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.34 112.55 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.78 112.55 Td (201) Tj ET Q q 0 0 0 rg BT 483.40 112.55 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.40 112.55 Td (, respectively) Tj ET Q q 0 0 0 rg BT 541.07 112.55 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 94.55 Td (Composition of Invested ) Tj ET Q q 0 0 0 rg BT 137.34 94.55 Td (Assets ) Tj ET Q q 0 0 0 rg BT 166.33 94.55 Td (T) Tj ET Q q 0 0 0 rg BT 172.26 94.55 Td (ransferr) Tj ET Q q 0 0 0 rg BT 207.61 94.55 Td (ed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 76.55 Td (The following table presents invested assets transferred by the Company in connection with the sale of the Retirement Plans and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 64.55 Td (Individual Life businesses in January 2013. In December 2012, the Company recognized intent-to-sell impairments of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.16 64.55 Td ($177) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.16 64.55 Td ( and gains ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 52.55 Td (on derivatives hedging of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.92 52.55 Td ($108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 155.92 52.55 Td ( associated with the sale of these assets.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 315 0 obj <> endobj 316 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 729.35 Td (2. Business Dispositions \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-21) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 689.50 414.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 689.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 659.50 414.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 659.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 629.50 414.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 629.50 122.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 704.5 m 568 704.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 689.5 m 446 689.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 704.5 m 568 704.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 689.5 m 568 689.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 614.5 m 446 614.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 599.5 m 446 599.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 614.5 m 568 614.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 599.5 m 568 599.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.20 708.95 Td (As of December31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.85 693.95 Td (Carrying Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 679.17 Td (Total fixed maturities, AFS at fair value \(amortized cost of $13,916\) [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.65 679.17 Td (15,349) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 665.07 Td (Equity securities, AFS, at fair value \(cost of $35\) [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.15 664.17 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 650.07 Td (Fixed maturities, at fair value using the FVO [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.15 649.17 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 635.07 Td (Mortgage loans \(net of allowances for loan losses of $1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.65 634.17 Td (1,364) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 620.07 Td (Policy loans, at outstanding balance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.15 619.17 Td (582) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 70.50 604.18 Td (Total invested assets transferred) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.50 604.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 536.65 604.18 Td (17,348) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 583.20 Td ([1] ) Tj ET Q q 0 0 0 rg BT 45.25 583.20 Td ( ) Tj ET Q q 0 0 0 rg BT 47.50 583.20 Td (Includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 80.24 583.20 Td ($14.7) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 100.49 583.20 Td ( ) Tj ET Q q 0 0 0 rg BT 102.74 583.20 Td (billion ) Tj ET Q q 0 0 0 rg BT 128.50 583.20 Td (and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 144.25 583.20 Td ($670) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 162.25 583.20 Td ( ) Tj ET Q q 0 0 0 rg BT 164.50 583.20 Td (of ) Tj ET Q q 0 0 0 rg BT 173.75 583.20 Td (securities ) Tj ET Q q 0 0 0 rg BT 210.49 583.20 Td (in ) Tj ET Q q 0 0 0 rg BT 219.74 583.20 Td (level ) Tj ET Q q 0 0 0 rg BT 238.97 583.20 Td (2 ) Tj ET Q q 0 0 0 rg BT 245.72 583.20 Td (and ) Tj ET Q q 0 0 0 rg BT 261.47 583.20 Td (3 ) Tj ET Q q 0 0 0 rg BT 268.22 583.20 Td (of ) Tj ET Q q 0 0 0 rg BT 277.48 583.20 Td (the ) Tj ET Q q 0 0 0 rg BT 290.72 583.20 Td (fair ) Tj ET Q q 0 0 0 rg BT 305.97 583.20 Td (value ) Tj ET Q q 0 0 0 rg BT 327.71 583.20 Td (hierar) Tj ET Q q 0 0 0 rg BT 349.88 583.20 Td (chy) Tj ET Q q 0 0 0 rg BT 361.87 583.20 Td (, ) Tj ET Q q 0 0 0 rg BT 366.37 583.20 Td (r) Tj ET Q q 0 0 0 rg BT 369.54 583.20 Td (espectively) Tj ET Q q 0 0 0 rg BT 408.52 583.20 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 572.40 Td ([2] ) Tj ET Q q 0 0 0 rg BT 45.25 572.40 Td ( ) Tj ET Q q 0 0 0 rg BT 47.34 572.40 Td (All ) Tj ET Q q 0 0 0 rg BT 60.09 572.40 Td (equity ) Tj ET Q q 0 0 0 rg BT 84.33 572.40 Td (securities ) Tj ET Q q 0 0 0 rg BT 121.07 572.40 Td (transferr) Tj ET Q q 0 0 0 rg BT 152.75 572.40 Td (ed ) Tj ET Q q 0 0 0 rg BT 163.49 572.40 Td (ar) Tj ET Q q 0 0 0 rg BT 171.16 572.40 Td (e ) Tj ET Q q 0 0 0 rg BT 177.40 572.40 Td (included ) Tj ET Q q 0 0 0 rg BT 210.64 572.40 Td (in ) Tj ET Q q 0 0 0 rg BT 219.89 572.40 Td (level ) Tj ET Q q 0 0 0 rg BT 239.13 572.40 Td (2 ) Tj ET Q q 0 0 0 rg BT 245.88 572.40 Td (of ) Tj ET Q q 0 0 0 rg BT 255.13 572.40 Td (the ) Tj ET Q q 0 0 0 rg BT 268.37 572.40 Td (fair ) Tj ET Q q 0 0 0 rg BT 283.63 572.40 Td (value ) Tj ET Q q 0 0 0 rg BT 305.37 572.40 Td (hierar) Tj ET Q q 0 0 0 rg BT 327.53 572.40 Td (chy) Tj ET Q q 0 0 0 rg BT 339.53 572.40 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 561.60 Td ([3] ) Tj ET Q q 0 0 0 rg BT 45.25 561.60 Td ( ) Tj ET Q q 0 0 0 rg BT 47.34 561.60 Td (All ) Tj ET Q q 0 0 0 rg BT 60.09 561.60 Td (FV) Tj ET Q q 0 0 0 rg BT 70.82 561.60 Td (O ) Tj ET Q q 0 0 0 rg BT 79.57 561.60 Td (securities ) Tj ET Q q 0 0 0 rg BT 116.31 561.60 Td (transferr) Tj ET Q q 0 0 0 rg BT 147.98 561.60 Td (ed ) Tj ET Q q 0 0 0 rg BT 158.73 561.60 Td (ar) Tj ET Q q 0 0 0 rg BT 166.39 561.60 Td (e ) Tj ET Q q 0 0 0 rg BT 172.64 561.60 Td (included ) Tj ET Q q 0 0 0 rg BT 205.88 561.60 Td (in ) Tj ET Q q 0 0 0 rg BT 215.13 561.60 Td (level ) Tj ET Q q 0 0 0 rg BT 234.36 561.60 Td (3 ) Tj ET Q q 0 0 0 rg BT 241.11 561.60 Td (of ) Tj ET Q q 0 0 0 rg BT 250.37 561.60 Td (the ) Tj ET Q q 0 0 0 rg BT 263.61 561.60 Td (fair ) Tj ET Q q 0 0 0 rg BT 278.86 561.60 Td (value ) Tj ET Q q 0 0 0 rg BT 300.60 561.60 Td (hierar) Tj ET Q q 0 0 0 rg BT 322.77 561.60 Td (chy) Tj ET Q q 0 0 0 rg BT 334.76 561.60 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 538.80 Td (Sale of Catalyst 360) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 520.80 Td (On December 31, 2013, the Company completed the sale of its member contact center for health insurance products of) Tj ET Q q 0 0 0 rg BT 506.16 520.80 Td (fered through the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 508.80 Td (AARP) Tj ET Q q 0 0 0 rg BT 57.80 508.80 Td ( Health Program \("Catalyst 360"\) to Optum, Inc., a division of UnitedHealth Group. ) Tj ET Q q 0 0 0 rg BT 396.56 508.80 Td (The impact of this transaction was not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 496.80 Td (material to the Company's results of operations, financial position or liquidity) Tj ET Q q 0 0 0 rg BT 341.21 496.80 Td (. ) Tj ET Q q 0 0 0 rg BT 346.03 496.80 Td (The Company will provide limited transition services for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 484.80 Td (18-24 months. Catalyst 360 is included in the Consumer Markets reporting segment. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 466.80 Td (Pur) Tj ET Q q 0 0 0 rg BT 47.43 466.80 Td (chase ) Tj ET Q q 0 0 0 rg BT 72.71 466.80 Td (Agr) Tj ET Q q 0 0 0 rg BT 89.19 466.80 Td (eement with For) Tj ET Q q 0 0 0 rg BT 158.98 466.80 Td (ethought Financial Gr) Tj ET Q q 0 0 0 rg BT 253.80 466.80 Td (oup, Inc. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 448.80 Td (On December 31, 2012, the Company completed the sale of its U.S. individual annuity new business capabilities to Forethought ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 436.80 Td (Financial Group. Ef) Tj ET Q q 0 0 0 rg BT 111.02 436.80 Td (fective May 1, 2012, all new U.S. annuity policies sold by the Company were reinsured to Forethought Life ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 424.80 Td (Insurance Company) Tj ET Q q 0 0 0 rg BT 111.10 424.80 Td (. ) Tj ET Q q 0 0 0 rg BT 118.42 424.80 Td (The Company ceased the sale of such annuity policies and the reinsurance agreement terminated as to new ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 412.80 Td (business in the second quarter of 2013. ) Tj ET Q q 0 0 0 rg BT 192.12 412.80 Td (The reinsurance agreement has no impact on in-force policies issued on or before ) Tj ET Q q 0 0 0 rg BT 519.50 412.80 Td (April 27, 2012 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 400.80 Td (and the impact of this transaction was not material to the Company's results of operations, financial position or liquidity) Tj ET Q q 0 0 0 rg BT 510.05 400.80 Td (. ) Tj ET Q q 0 0 0 rg BT 514.87 400.80 Td (The Individual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 388.80 Td (Annuity business is included in the ) Tj ET Q q 0 0 0 rg BT 174.09 388.80 Td (T) Tj ET Q q 0 0 0 rg BT 179.50 388.80 Td (alcott Resolution reporting segment.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 370.80 Td (Sale of ) Tj ET Q q 0 0 0 rg BT 62.43 370.80 Td (W) Tj ET Q q 0 0 0 rg BT 71.88 370.80 Td (oodbury Financial Services, Inc. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 352.80 Td (On November 30, 2012, the Company completed the sale of ) Tj ET Q q 0 0 0 rg BT 274.60 352.80 Td (W) Tj ET Q q 0 0 0 rg BT 283.23 352.80 Td (oodbury Financial Services, Inc. \("W) Tj ET Q q 0 0 0 rg BT 431.47 352.80 Td (oodbury Financial Services", ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 340.80 Td ("WFS"\), an indirect wholly-owned subsidiary) Tj ET Q q 0 0 0 rg BT 214.26 340.80 Td (, to ) Tj ET Q q 0 0 0 rg BT 228.99 340.80 Td (AIG ) Tj ET Q q 0 0 0 rg BT 248.71 340.80 Td (Advisor Group, Inc, a subsidiary of ) Tj ET Q q 0 0 0 rg BT 392.58 340.80 Td (American International Group, Inc. ) Tj ET Q q 0 0 0 rg BT 538.73 340.80 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 328.80 Td (impact of the disposition of this business was not material to the Company's results of operations, financial position or liquidity) Tj ET Q q 0 0 0 rg BT 540.36 328.80 Td (. ) Tj ET Q q 0 0 0 rg BT 545.18 328.80 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 316.80 Td (WFS broker) Tj ET Q q 0 0 0 rg BT 80.46 316.80 Td (-dealer business is included in the Corporate reporting category) Tj ET Q q 0 0 0 rg BT 333.62 316.80 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 298.80 Td (Servicing ) Tj ET Q q 0 0 0 rg BT 73.44 298.80 Td (Agr) Tj ET Q q 0 0 0 rg BT 89.92 298.80 Td (eement of Hartford Life Private Placement LLC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 280.80 Td (On July 13, 2012, the Company closed a sale transaction with Philadelphia Financial Group, Inc. \(Philadelphia Financial\) whereby ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 268.80 Td (Philadelphia Financial acquired certain assets used to administer the Company's private placement life insurance \(PPLI\) businesses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 256.80 Td (and will service the PPLI businesses. ) Tj ET Q q 0 0 0 rg BT 184.63 256.80 Td (The Company retained certain corporate functions associated with this business as well as the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 244.80 Td (mortality risk on the insurance policies. Upon closing, the Company recorded a deferred gain of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.27 244.80 Td ($61) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.27 244.80 Td ( after) Tj ET Q q 0 0 0 rg BT 455.89 244.80 Td (-tax, which will be amortized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 232.80 Td (over the estimated life of the underlying insurance policies. ) Tj ET Q q 0 0 0 rg BT 273.74 232.80 Td (The PPLI business is included in the ) Tj ET Q q 0 0 0 rg BT 422.16 232.80 Td (T) Tj ET Q q 0 0 0 rg BT 427.57 232.80 Td (alcott Resolution reporting segment.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 214.80 Td (See ) Tj ET Q q 0 0 0 rg BT 48.62 214.80 Td (Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.74 214.80 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.74 214.80 Td ( ) Tj ET Q q 0 0 0 rg BT 83.42 214.80 Td (- ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.43 214.80 Td (Discontinued ) Tj ET Q q 0 0 0 rg BT 145.43 214.80 Td (Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.31 214.80 Td ( ) Tj ET Q q 0 0 0 rg BT 191.99 214.80 Td (of ) Tj ET Q q 0 0 0 rg BT 203.00 214.80 Td (Notes ) Tj ET Q q 0 0 0 rg BT 229.01 214.80 Td (to ) Tj ET Q q 0 0 0 rg BT 239.46 214.80 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 294.92 214.80 Td (Financial ) Tj ET Q q 0 0 0 rg BT 334.81 214.80 Td (Statements ) Tj ET Q q 0 0 0 rg BT 381.37 214.80 Td (for ) Tj ET Q q 0 0 0 rg BT 395.71 214.80 Td (the ) Tj ET Q q 0 0 0 rg BT 410.61 214.80 Td (sale ) Tj ET Q q 0 0 0 rg BT 428.83 214.80 Td (of ) Tj ET Q q 0 0 0 rg BT 439.84 214.80 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 489.74 214.80 Td (that ) Tj ET Q q 0 0 0 rg BT 507.42 214.80 Td (are ) Tj ET Q q 0 0 0 rg BT 522.30 214.80 Td (being ) Tj ET Q q 0 0 0 rg BT 547.20 214.80 Td (reported ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 202.80 Td (as ) Tj ET Q q 0 0 0 rg BT 42.33 202.80 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 95.93 202.80 Td (operations. ) Tj ET Q endstream endobj 317 0 obj <> endobj 318 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-22) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 703.60 Td (3) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 37.00 703.60 Td (. ) Tj ET Q q 0 0 0 rg BT 42.50 703.60 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 88.04 703.60 Td (\(Loss\) ) Tj ET Q q 0 0 0 rg BT 119.52 703.60 Td (per) Tj ET Q q 0 0 0 rg BT 135.20 703.60 Td ( ) Tj ET Q q 0 0 0 rg BT 137.95 703.60 Td (Shar) Tj ET Q q 0 0 0 rg BT 160.37 703.60 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 681.60 Td (The ) Tj ET Q q 0 0 0 rg BT 49.31 681.60 Td (following ) Tj ET Q q 0 0 0 rg BT 90.47 681.60 Td (table ) Tj ET Q q 0 0 0 rg BT 112.17 681.60 Td (presents ) Tj ET Q q 0 0 0 rg BT 147.20 681.60 Td (a ) Tj ET Q q 0 0 0 rg BT 153.91 681.60 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 211.15 681.60 Td (of ) Tj ET Q q 0 0 0 rg BT 221.75 681.60 Td (net ) Tj ET Q q 0 0 0 rg BT 236.23 681.60 Td (income ) Tj ET Q q 0 0 0 rg BT 267.93 681.60 Td (\(loss\)and ) Tj ET Q q 0 0 0 rg BT 309.36 681.60 Td (shares ) Tj ET Q q 0 0 0 rg BT 336.62 681.60 Td (used ) Tj ET Q q 0 0 0 rg BT 357.22 681.60 Td (in ) Tj ET Q q 0 0 0 rg BT 367.26 681.60 Td (calculating ) Tj ET Q q 0 0 0 rg BT 413.40 681.60 Td (basic ) Tj ET Q q 0 0 0 rg BT 436.21 681.60 Td (earnings ) Tj ET Q q 0 0 0 rg BT 472.35 681.60 Td (\(loss\)per ) Tj ET Q q 0 0 0 rg BT 512.11 681.60 Td (common ) Tj ET Q q 0 0 0 rg BT 549.37 681.60 Td (share ) Tj ET Q q 0 0 0 rg BT 572.74 681.60 Td (to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 669.60 Td (those ) Tj ET Q q 0 0 0 rg BT 55.11 669.60 Td (used ) Tj ET Q q 0 0 0 rg BT 75.94 669.60 Td (in ) Tj ET Q q 0 0 0 rg BT 86.22 669.60 Td (calculating ) Tj ET Q q 0 0 0 rg BT 132.58 669.60 Td (diluted ) Tj ET Q q 0 0 0 rg BT 162.86 669.60 Td (earnings ) Tj ET Q q 0 0 0 rg BT 199.23 669.60 Td (\(loss\)per ) Tj ET Q q 0 0 0 rg BT 239.22 669.60 Td (common ) Tj ET Q q 0 0 0 rg BT 276.72 669.60 Td (share.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 630.10 382.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 630.10 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 630.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 630.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 602.10 382.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 602.10 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 602.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 602.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 574.10 382.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 574.10 55.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 574.10 56.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 574.10 56.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 537.10 382.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 537.10 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 537.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 537.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 509.10 382.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 509.10 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 509.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 509.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 481.10 382.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 481.10 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 481.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 481.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 453.10 382.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 453.10 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 453.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 453.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 425.10 382.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 425.10 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 425.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 425.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 397.10 382.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 397.10 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 397.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 397.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 369.10 382.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 369.10 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 369.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 369.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 341.10 382.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 341.10 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 341.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 341.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 313.10 382.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 414.00 313.10 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 313.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 313.10 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 414 645.1 m 469 645.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 645.1 m 525 645.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 645.1 m 581 645.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 630.1 m 414 630.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 414 630.1 m 469 630.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 630.1 m 525 630.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 630.1 m 581 630.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 574.1 m 414 574.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 414 574.1 m 469 574.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 574.1 m 525 574.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 574.1 m 581 574.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 495.1 m 414 495.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 414 495.1 m 469 495.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 495.1 m 525 495.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 495.1 m 581 495.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 425.1 m 414 425.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 425.1 m 469 425.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 425.1 m 525 425.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 425.1 m 581 425.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 411.1 m 414 411.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 411.1 m 469 411.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 411.1 m 525 411.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 411.1 m 581 411.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 355.1 m 414 355.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 414 355.1 m 469 355.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 355.1 m 525 355.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 355.1 m 581 355.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 341.1 m 414 341.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 341.1 m 469 341.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 341.1 m 525 341.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 341.1 m 581 341.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 299.1 m 414 299.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 414 299.1 m 469 299.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 299.1 m 525 299.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 299.1 m 581 299.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 285.1 m 414 285.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 414 285.1 m 469 285.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 285.1 m 525 285.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 285.1 m 581 285.1 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 649.67 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.65 649.55 Td (For the years ended December 31,) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 34.50 634.55 Td (\(In millions, except for per share data\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 432.00 634.55 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.50 634.55 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.70 634.55 Td (2011) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.50 620.78 Td (Earnings) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.50 620.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 620.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 620.67 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 606.78 Td (Income \(loss\) from continuing operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.50 606.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 606.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 606.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 592.67 Td (Income\(loss\) from continuing operations, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.50 592.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 592.67 Td (310) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 592.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.80 592.72 Td (\(100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 592.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 592.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 592.67 Td (573) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 578.67 Td (Less: Preferred stock dividends) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 578.67 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 578.67 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 578.67 Td (42) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 564.83 Td (Income \(loss\)from continuing operations, net of tax, available to common) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 554.83 Td (shareholders) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 450.15 555.78 Td (300) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 502.80 555.83 Td (\(142) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.15 555.78 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 555.78 Td (531) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 541.78 Td (Income \(loss\)from discontinued operations, net of tax) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 446.80 541.83 Td (\(134) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.15 541.78 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.15 541.78 Td (62) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 541.78 Td (139) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 527.78 Td (Net income \(loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.50 527.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.50 527.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.50 527.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 513.67 Td (Net income \(loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 513.67 Td (176) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.80 513.72 Td (\(38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 513.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 513.67 Td (712) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 499.67 Td (Less: Preferred stock dividends) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 499.67 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 499.67 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 499.67 Td (42) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 485.78 Td (Net income \(loss\) available to common shareholders) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.50 485.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 450.15 485.78 Td (166) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 485.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.80 485.83 Td (\(80) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.15 485.78 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 485.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 485.78 Td (670) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.50 471.78 Td (Shares) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.50 471.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.50 471.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.50 471.67 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 457.78 Td (Weighted average common shares outstanding, basic) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.65 457.78 Td (447.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.65 457.78 Td (437.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 457.78 Td (445.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 443.67 Td (Dilutive effect of warrants) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.65 443.67 Td (32.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 443.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.65 443.67 Td (31.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 429.67 Td (Dilutive effect of stock compensation plans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.65 429.67 Td (4.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 429.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.65 429.67 Td (1.1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 415.78 Td (Weighted average shares outstanding and dilutive potential common shares) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.65 415.78 Td (484.4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.65 415.78 Td (437.7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 415.78 Td (478.0) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.50 401.78 Td (Earnings \(loss\)per common share) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.50 401.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 401.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 401.67 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 387.78 Td (Basic) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.50 387.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 387.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 387.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 373.67 Td (Income\(loss\) from continuing operations, net of tax, available to common shareholders) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.50 373.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.65 373.67 Td (0.67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 373.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.30 373.72 Td (\(0.32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 373.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 373.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.65 373.67 Td (1.19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 359.67 Td (Income \(loss\)from discontinued operations, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.30 359.72 Td (\(0.30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 359.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.65 359.67 Td (0.14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.65 359.67 Td (0.32) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 345.78 Td (Net income \(loss\)available to common shareholders) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.50 345.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.65 345.78 Td (0.37) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 345.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 500.30 345.83 Td (\(0.18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.15 345.78 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 345.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.65 345.78 Td (1.51) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 331.78 Td (Diluted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.50 331.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.50 331.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.50 331.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 317.67 Td (Income \(loss\) from continuing operations, net of tax, available to common shareholders) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.50 317.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.65 317.67 Td (0.62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 317.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.30 317.72 Td (\(0.32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 317.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 317.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.65 317.67 Td (1.11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 303.67 Td (Income \(loss\)from discontinued operations, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.30 303.72 Td (\(0.28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 303.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.65 303.67 Td (0.14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.65 303.67 Td (0.29) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 289.78 Td (Net income \(loss\) available to common shareholders) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.50 289.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.65 289.78 Td (0.34) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 289.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 500.30 289.83 Td (\(0.18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.15 289.78 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 289.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.65 289.78 Td (1.40) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 319 0 obj <> endobj 320 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 704.10 Td (Basic earnings per share is computed based on the weighted average number of common shares outstanding during the year) Tj ET Q q 0 0 0 rg BT 525.80 704.10 Td (. Diluted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 692.10 Td (earnings per share includes the dilutive ef) Tj ET Q q 0 0 0 rg BT 197.93 692.10 Td (fect of assumed exercise or issuance of warrants and stock-based awards under compensation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 680.10 Td (plans, and assumed conversion of preferred shares to common using the treasury stock method. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 662.10 Td (Under the treasury stock method, for warrants and stock-based awards, shares are assumed to be issued and then reduced for the number ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 650.10 Td (of shares repurchaseable with theoretical proceeds at the average market price for the period. Contingently issuable shares are included ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 638.10 Td (for the number of shares issuable assuming the end of the reporting period was the end of the contingency period, if dilutive.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 620.10 Td (As a result of the losses available to common shareholders for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.57 620.10 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.15 620.10 Td (, the Company was required to use ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 608.10 Td (basic weighted average common shares outstanding in the calculation of diluted loss per share, since the inclusion of shares for warrants ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 596.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 42.33 596.10 Td (26.0 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 91.22 596.10 Td (, stock compensation plans of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.31 596.10 Td (2.2 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.20 596.10 Td ( and mandatory convertible preferred shares, along with the related dividend ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 584.10 Td (adjustment, of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 91.21 584.10 Td (20.9 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 140.10 584.10 Td (, would have been antidilutive to the earnings \(loss\) per share calculations. Had there been income available ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 572.10 Td (to common shareholders in 2012, weighted average common shares outstanding and dilutive potential common shares would have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 560.10 Td (totaled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.21 560.10 Td (486.8 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.10 560.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 542.10 Td (Under the if-converted method for mandatory convertible preferred stock \(see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.75 542.10 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.75 542.10 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.08 542.10 Td (Equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.75 542.10 Td (\) the conversion to common shares is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 530.10 Td (assumed if the inclusion of these shares and the related dividend adjustment are dilutive to the earnings per share calculation. For the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 518.10 Td (year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.08 518.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 153.30 518.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 158.30 518.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 163.30 518.10 Td (20.7 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.19 518.10 Td ( shares for mandatory convertible preferred shares, along with the related dividend ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 506.10 Td (adjustment, would have been antidilutive to the earnings per share calculations. ) Tj ET Q q 0 0 0 rg BT 351.13 506.10 Td (Assuming the impact of the mandatory convertible ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 494.10 Td (preferred shares was not antidilutive, weighted average common shares outstanding and dilutive potential common shares would have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 482.10 Td (totaled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.21 482.10 Td (498.7 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.10 482.10 Td (, for the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 195.06 482.10 Td (December31, 201) Tj ET Q q 0 0 0 rg BT 268.28 482.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.28 482.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 464.10 Td (On March30, 2012 the Company entered into an agreement with ) Tj ET Q q 0 0 0 rg BT 294.21 464.10 Td (Allianz and repurchased the outstanding Series B and Series C ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 452.10 Td (warrants \(see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.97 452.10 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.97 452.10 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.30 452.10 Td (Equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.96 452.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 161.74 452.10 Td (As a result, ) Tj ET Q q 0 0 0 rg BT 208.96 452.10 Td (Allianz no longer holds potentially dilutive outstanding warrants. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 434.10 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 726.80 Td (3. ) Tj ET Q q 0 0 0 rg BT 43.00 726.80 Td (Earnings ) Tj ET Q q 0 0 0 rg BT 88.54 726.80 Td (\(Loss\) ) Tj ET Q q 0 0 0 rg BT 120.02 726.80 Td (per) Tj ET Q q 0 0 0 rg BT 135.70 726.80 Td ( ) Tj ET Q q 0 0 0 rg BT 138.45 726.80 Td (Shar) Tj ET Q q 0 0 0 rg BT 160.87 726.80 Td (e ) Tj ET Q q 0 0 0 rg BT 168.50 726.80 Td (\(continued\)) Tj ET Q endstream endobj 321 0 obj <> endobj 322 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-24) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (4) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 37.00 712.60 Td (. Segment Information ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 694.60 Td (The Company currently conducts business principally in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.06 694.60 Td (six) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.73 694.60 Td ( reporting segments, as well as a Corporate category) Tj ET Q q 0 0 0 rg BT 480.18 694.60 Td (. ) Tj ET Q q 0 0 0 rg BT 487.50 694.60 Td (The Company) Tj ET Q q 0 0 0 rg BT 547.21 694.60 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 682.60 Td (reporting segments, as well as the Corporate category) Tj ET Q q 0 0 0 rg BT 245.23 682.60 Td (, are as follows:) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 664.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 41.87 664.60 Td (operty & Casualty Commer) Tj ET Q q 0 0 0 rg BT 160.83 664.60 Td (cial) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 646.60 Td (Property & Casualty Commercial provides workers) Tj ET Q q 0 0 0 rg BT 239.88 646.60 Td ( compensation, property) Tj ET Q q 0 0 0 rg BT 336.15 646.60 Td (, automobile, marine, livestock, liability and umbrella ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 634.60 Td (coverages primarily throughout the United States \(U.S.\), along with a variety of customized insurance products and risk management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 622.60 Td (services including professional liability) Tj ET Q q 0 0 0 rg BT 188.32 622.60 Td (, fidelity) Tj ET Q q 0 0 0 rg BT 221.55 622.60 Td (, surety) Tj ET Q q 0 0 0 rg BT 250.34 622.60 Td (, and specialty casualty coverages.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 604.60 Td (Consumer) Tj ET Q q 0 0 0 rg BT 75.76 604.60 Td ( Markets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 586.60 Td (Consumer Markets provides standard automobile, homeowners and personal umbrella coverages to individuals across the U.S., ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 574.60 Td (including a special program designed exclusively for members of ) Tj ET Q q 0 0 0 rg BT 295.04 574.60 Td (AARP) Tj ET Q q 0 0 0 rg BT 320.60 574.60 Td (. Consumer Markets previously operated a member contact ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 562.60 Td (center for health insurance products of) Tj ET Q q 0 0 0 rg BT 185.42 562.60 Td (fered through the ) Tj ET Q q 0 0 0 rg BT 256.23 562.60 Td (AARP) Tj ET Q q 0 0 0 rg BT 282.54 562.60 Td ( Health program \("Catalyst 360"\). For further information regarding the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 550.60 Td (sale of Catalyst 360 in 2013, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.64 550.60 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.64 550.60 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.97 550.60 Td (Business Dispositions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.04 550.60 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 532.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 41.87 532.60 Td (operty & Casualty Other) Tj ET Q q 0 0 0 rg BT 148.61 532.60 Td ( Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 514.60 Td (Property & Casualty Other Operations includes certain property and casualty operations, currently managed by the Company) Tj ET Q q 0 0 0 rg BT 531.26 514.60 Td (, that have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 502.60 Td (discontinued writing new business and substantially all of the Company) Tj ET Q q 0 0 0 rg BT 321.74 502.60 Td (s asbestos and environmental exposures.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 484.60 Td (Gr) Tj ET Q q 0 0 0 rg BT 43.54 484.60 Td (oup Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 466.60 Td (Group Benefits provides employers, associations, af) Tj ET Q q 0 0 0 rg BT 239.88 466.60 Td (finity groups and financial institutions with group life, accident and disability ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 454.60 Td (coverage, along with other products and services, including voluntary benefits, and group retiree health.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 436.60 Td (Mutual Funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 418.60 Td (Mutual Funds of) Tj ET Q q 0 0 0 rg BT 97.99 418.60 Td (fers mutual funds for retail and retirement accounts and provides investment-management and administrative services ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 406.60 Td (such as product design, implementation and oversight. ) Tj ET Q q 0 0 0 rg BT 251.55 406.60 Td (This business also includes the runof) Tj ET Q q 0 0 0 rg BT 398.85 406.60 Td (f of the mutual funds supporting the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 394.60 Td (Company's variable annuity products.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 376.60 Td (T) Tj ET Q q 0 0 0 rg BT 37.25 376.60 Td (alcott Resolution ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 358.60 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 358.60 Td (alcott Resolution is comprised of runof) Tj ET Q q 0 0 0 rg BT 193.09 358.60 Td (f business from the Company's U.S. annuity) Tj ET Q q 0 0 0 rg BT 368.68 358.60 Td (, international \(primarily in Japan\) annuity) Tj ET Q q 0 0 0 rg BT 537.98 358.60 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 346.60 Td (institutional and private-placement life insurance businesses, as well as the Retirement Plans and Individual Life businesses that were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 334.60 Td (sold in January 2013 and the Company's discontinued U.K. variable annuity business. For further information regarding the sale of these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 322.60 Td (businesses, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.93 322.60 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.93 322.60 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.26 322.60 Td (Business Dispositions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.33 322.60 Td ( and Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.71 322.60 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.71 322.60 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.04 322.60 Td (Discontinued Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.74 322.60 Td ( of Notes to Consolidated Financial Statements. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 304.60 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 286.60 Td (The Company includes in the Corporate category the Company) Tj ET Q q 0 0 0 rg BT 287.54 286.60 Td (s debt financing and related interest expense, as well as other capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 274.60 Td (raising activities and purchase accounting adjustments related to goodwill and other char) Tj ET Q q 0 0 0 rg BT 386.49 274.60 Td (ges not allocated to the segments.) 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Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 323 0 obj <> endobj 324 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 713.10 Td (following ) Tj ET Q q 0 0 0 rg BT 90.93 713.10 Td (table ) Tj ET Q q 0 0 0 rg BT 112.87 713.10 Td (presents ) Tj ET Q q 0 0 0 rg BT 148.14 713.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 186.17 713.10 Td (by ) Tj ET Q q 0 0 0 rg BT 198.67 713.10 Td (product ) Tj ET Q q 0 0 0 rg BT 231.72 713.10 Td (line ) Tj ET Q q 0 0 0 rg BT 249.21 713.10 Td (for ) Tj ET Q q 0 0 0 rg BT 263.38 713.10 Td (each ) Tj ET Q q 0 0 0 rg BT 284.19 713.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 323.35 713.10 Td (segment, ) Tj ET Q q 0 0 0 rg BT 361.67 713.10 Td (as ) Tj ET Q q 0 0 0 rg BT 372.50 713.10 Td (well ) Tj ET Q q 0 0 0 rg BT 392.22 713.10 Td (as ) Tj ET Q q 0 0 0 rg BT 403.05 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 417.76 713.10 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 460.25 713.10 Td (category) Tj ET Q q 0 0 0 rg BT 494.02 713.10 Td (.) 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(Property & Casualty Commercial) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 639.22 Td (Workers compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.50 639.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 639.22 Td (2,975) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 639.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 639.22 Td (2,987) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.50 639.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.65 639.22 Td (2,809) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 627.22 Td (Property) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 627.22 Td (521) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 627.22 Td (505) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 627.22 Td (528) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 615.22 Td (Automobile) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 615.22 Td (579) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 615.22 Td (587) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 615.22 Td (583) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 603.17 Td (Package business) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 603.17 Td (1,139) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 603.17 Td (1,160) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.65 603.17 Td (1,145) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 590.22 Td (Liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 590.22 Td (566) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 590.22 Td (562) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 590.22 Td (540) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 579.17 Td (Fidelity and surety) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 579.17 Td (201) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 579.17 Td (205) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 579.17 Td (215) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 566.22 Td (Professional liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 566.22 Td (222) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 566.22 Td (253) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 566.22 Td (307) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 554.22 Td (Total Property & Casualty Commercial) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 554.22 Td (6,203) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 554.22 Td (6,259) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.65 554.22 Td (6,127) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 542.33 Td (Consumer Markets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 530.22 Td (Automobile) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 530.22 Td (2,522) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 530.22 Td (2,526) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.65 530.22 Td (2,619) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 518.22 Td (Homeowners) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 518.22 Td (1,138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 518.22 Td (1,110) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.65 518.22 Td (1,128) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 506.22 Td (Total Consumer Markets [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 506.22 Td (3,660) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 506.22 Td (3,636) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.65 506.22 Td (3,747) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 488.28 Td (Property & Casualty Other Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.15 488.27 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.80 488.32 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 488.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.15 488.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 474.33 Td (Group Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 462.22 Td (Group disability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 462.22 Td (1,452) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 462.22 Td (1,735) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.65 462.22 Td (1,929) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 450.17 Td (Group life) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 450.17 Td (1,717) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 450.17 Td (1,881) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.65 450.17 Td (2,024) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 437.22 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 437.22 Td (161) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 437.22 Td (194) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 437.22 Td (194) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 426.22 Td (Total Group Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 426.22 Td (3,330) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 426.22 Td (3,810) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.65 426.22 Td (4,147) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 415.33 Td (Mutual Funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 403.17 Td (Retail) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 403.17 Td (526) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 403.17 Td (487) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 403.17 Td (541) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 389.17 Td (Annuity and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 389.17 Td (152) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 389.17 Td (112) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 389.17 Td (108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 375.17 Td (Total Mutual Funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 375.17 Td (678) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 375.17 Td (599) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 375.17 Td (649) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 361.28 Td (Talcott Resolution) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 361.17 Td (2,148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 361.17 Td (3,548) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.65 361.17 Td (3,909) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 347.28 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 347.17 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 347.17 Td (167) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 347.17 Td (209) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 333.17 Td (Total earned premiums, fees, and other considerations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.65 333.17 Td (16,031) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 333.17 Td (18,017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.65 333.17 Td (18,788) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 319.17 Td (Net investment income \(loss\):) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.50 319.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.50 319.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 573.50 319.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 305.17 Td (Securities available-for-sale and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 305.17 Td (3,362) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 305.17 Td (4,227) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.65 305.17 Td (4,263) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 291.17 Td (Equity securities, trading) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 291.17 Td (6,061) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 291.17 Td (4,364) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.30 291.17 Td (\(1,345) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 573.15 291.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 277.17 Td (Total net investment income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 277.17 Td (9,423) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 277.17 Td (8,591) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.65 277.17 Td (2,918) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 263.17 Td (Net realized capital gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 263.17 Td (507) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.80 263.22 Td (\(744) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 263.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.80 263.17 Td (\(226) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 573.15 263.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 249.17 Td (Other revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 249.17 Td (275) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 249.17 Td (258) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 249.17 Td (253) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 235.33 Td (Total revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 366.50 235.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 403.65 235.33 Td (26,236) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 235.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 474.65 235.33 Td (26,122) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 508.50 235.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 545.65 235.33 Td (21,733) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 215.30 Td ([1] For ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 61.00 215.30 Td (2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 79.00 215.30 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 83.50 215.30 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 101.50 215.30 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 119.50 215.30 Td (201) Tj ET Q q 0 0 0 rg BT 132.34 215.30 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 136.84 215.30 Td (, ) Tj ET Q q 0 0 0 rg BT 141.17 215.30 Td (AARP) Tj ET Q q 0 0 0 rg BT 163.00 215.30 Td ( members accounted for earned pr) Tj ET Q q 0 0 0 rg BT 286.89 215.30 Td (emiums of $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 330.39 215.30 Td (2.9 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 367.39 215.30 Td (, $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 376.39 215.30 Td (2.8 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 413.39 215.30 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 431.39 215.30 Td ($2.8 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 472.90 215.30 Td (, r) Tj ET Q q 0 0 0 rg BT 480.56 215.30 Td (espectively) Tj ET Q q 0 0 0 rg BT 519.54 215.30 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 155.00 332.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 155.00 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 155.00 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 155.00 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 127.00 332.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 127.00 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 127.00 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 127.00 71.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 169 m 435 169 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 169 m 506 169 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 169 m 577 169 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 155 m 364 155 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 155 m 435 155 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 155 m 506 155 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 155 m 577 155 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 155 m 435 155 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 155 m 506 155 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 155 m 577 155 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 113 m 364 113 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 100 m 364 100 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 113 m 435 113 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 100 m 435 100 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 113 m 506 113 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 100 m 506 100 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 113 m 577 113 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 100 m 577 100 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 173.40 Td (Geographical Revenue Information) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.65 173.40 Td (For the years ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 159.45 Td (Revenues) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 390.00 159.45 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.00 159.45 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.20 159.45 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 145.57 Td (United States of America) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.50 145.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.65 145.57 Td (20,688) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 145.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 145.57 Td (21,814) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.50 145.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.65 145.57 Td (21,561) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 131.57 Td (Japan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 131.57 Td (5,548) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 131.57 Td (4,363) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 131.57 Td (135) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 117.57 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 117.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.80 117.62 Td (\(55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 117.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.15 117.57 Td (37) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 103.73 Td (Total revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 366.50 103.73 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 403.65 103.73 Td (26,236) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 103.73 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 474.65 103.73 Td (26,122) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 508.50 103.73 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 545.65 103.73 Td (21,733) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (4. Segment Information \(continued\)) Tj ET Q endstream endobj 325 0 obj <> endobj 326 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-26) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 691.50 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 691.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 691.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 691.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 663.50 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 663.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 663.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 663.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 635.50 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 635.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 635.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 635.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 607.50 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 607.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 607.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 607.50 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 705.5 m 469 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 705.5 m 525 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 705.5 m 581 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 691.5 m 413 691.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 705.5 m 469 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 691.5 m 469 691.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 705.5 m 525 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 691.5 m 525 691.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 705.5 m 581 705.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 691.5 m 581 691.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 593.5 m 413 593.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 580.5 m 413 580.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 593.5 m 469 593.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 580.5 m 469 580.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 593.5 m 525 593.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 580.5 m 525 580.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 593.5 m 581 593.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 580.5 m 581 580.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.15 709.95 Td (For the years ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 695.95 Td (Net income \(loss\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.50 695.95 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.50 695.95 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.70 695.95 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 682.07 Td (Property & Casualty Commercial) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 682.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 682.07 Td (870) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 682.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 682.07 Td (547) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 682.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 682.07 Td (526) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 668.07 Td (Consumer Markets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 668.07 Td (229) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 668.07 Td (166) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 668.07 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 654.07 Td (Property & Casualty Other Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.80 654.12 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 654.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 654.07 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 654.07 Td (\(117) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 654.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 640.07 Td (Group Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 640.07 Td (192) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 640.07 Td (129) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 640.07 Td (92) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 626.07 Td (Mutual Funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 626.07 Td (76) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 626.07 Td (71) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 626.07 Td (98) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 612.07 Td (Talcott Resolution) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 612.12 Td (\(634) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 612.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.15 612.07 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 612.07 Td (540) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 598.07 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 598.12 Td (\(555) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 598.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.30 598.12 Td (\(1,009) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 598.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 598.07 Td (\(434) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 598.07 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 584.23 Td (Net income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.50 584.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 450.15 584.23 Td (176) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 584.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.80 584.28 Td (\(38) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.15 584.23 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 584.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 584.23 Td (712) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 530.50 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 530.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 530.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 530.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 502.50 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 502.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 502.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 502.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 474.50 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 474.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 474.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 474.50 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 551.5 m 469 551.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 551.5 m 525 551.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 551.5 m 581 551.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 530.5 m 413 530.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 530.5 m 469 530.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 530.5 m 525 530.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 530.5 m 581 530.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 460.5 m 413 460.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 437.5 m 413 437.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 460.5 m 469 460.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 437.5 m 469 437.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 460.5 m 525 460.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 437.5 m 525 437.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 460.5 m 581 460.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 437.5 m 581 437.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.15 555.90 Td (For the years ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 534.95 Td (Amortization of deferred policy acquisition costs and present value of future profits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.50 534.95 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.50 534.95 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.70 534.95 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 521.07 Td (Property & Casualty Commercial) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 521.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 521.07 Td (905) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 521.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 521.07 Td (927) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 521.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 521.07 Td (917) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 507.07 Td (Consumer Markets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 507.07 Td (332) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 507.07 Td (332) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 507.07 Td (337) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 493.07 Td (Group Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 493.07 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 493.07 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 493.07 Td (35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 479.07 Td (Mutual Funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 479.07 Td (39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 479.07 Td (35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 479.07 Td (47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 465.07 Td (Talcott Resolution) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.65 465.07 Td (1,392) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 465.07 Td (661) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 465.07 Td (1,108) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 451.23 Td (Total amortization of deferred policy acquisition costs and present value of future) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 441.23 Td (profits) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.50 442.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.65 442.18 Td (2,701) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 442.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.65 442.18 Td (1,988) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 442.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 442.18 Td (2,444) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 393.50 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 393.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 393.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 393.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 365.50 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 365.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 365.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 365.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 337.50 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 337.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 337.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 337.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 309.50 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 309.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 309.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 309.50 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 407.5 m 469 407.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 407.5 m 525 407.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 407.5 m 581 407.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 393.5 m 413 393.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 393.5 m 469 393.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 393.5 m 525 393.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 393.5 m 581 393.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 295.5 m 413 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 282.5 m 413 282.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 295.5 m 469 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 282.5 m 469 282.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 295.5 m 525 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 282.5 m 525 282.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 295.5 m 581 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 282.5 m 581 282.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.15 411.95 Td (For the years ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 397.95 Td (Income tax expense \(benefit\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.50 397.95 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.50 397.95 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.70 397.95 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 384.07 Td (Property & Casualty Commercial) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 384.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 384.07 Td (320) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 384.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 384.07 Td (159) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 384.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 384.07 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 370.07 Td (Consumer Markets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 370.07 Td (100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 370.07 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 370.07 Td (\(22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 370.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 356.07 Td (Property & Casualty Other Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.80 356.12 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 356.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 356.07 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 356.07 Td (\(74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 356.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 342.07 Td (Group Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 342.07 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 342.07 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 342.07 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 328.07 Td (Mutual Funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 328.07 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 328.07 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 328.07 Td (54) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 314.07 Td (Talcott Resolution) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 314.12 Td (\(500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 314.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.80 314.12 Td (\(271) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 314.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 314.07 Td (\(168) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 314.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 300.07 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 300.12 Td (\(252) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 300.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.80 300.12 Td (\(517) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 300.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 300.07 Td (\(201) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 300.07 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 286.23 Td (Total income tax benefit) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.50 286.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 446.80 286.28 Td (\(247) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.15 286.23 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 286.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 502.80 286.28 Td (\(481) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.15 286.23 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 286.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.80 286.23 Td (\(373) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 286.23 Td (\)) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 238.50 437.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 238.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 238.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 210.50 437.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 210.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 210.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 182.50 437.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 182.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 182.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 154.50 437.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 154.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 154.50 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 252.5 m 525 252.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 252.5 m 581 252.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 238.5 m 469 238.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 238.5 m 525 238.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 238.5 m 581 238.5 l s 0 0 0 RG /GS0 gs 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Tf ET q 0 0 0 rg BT 471.50 229.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 229.07 Td (27,119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 229.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 229.07 Td (25,595) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 215.07 Td (Consumer Markets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 215.07 Td (5,873) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 215.07 Td (6,024) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 201.07 Td (Property & Casualty Other Operations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 201.07 Td (4,331) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 201.07 Td (4,509) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 187.07 Td (Group Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 187.07 Td (8,882) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 187.07 Td (9,545) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 173.07 Td (Mutual Funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 173.07 Td (307) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 173.07 Td (325) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 159.07 Td (Talcott Resolution) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.65 159.07 Td (222,269) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.65 159.07 Td (243,836) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 145.07 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 145.07 Td (9,103) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 145.07 Td (8,679) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 131.23 Td (Total assets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 131.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.65 131.23 Td (277,884) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 131.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.65 131.23 Td (298,513) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (4. Segment Information \(continued\)) Tj ET Q endstream endobj 327 0 obj <> endobj 328 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-27) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (5) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 37.00 712.60 Td (. ) Tj ET Q q 0 0 0 rg BT 42.50 712.60 Td (Fair) Tj ET Q q 0 0 0 rg BT 62.46 712.60 Td ( ) Tj ET Q q 0 0 0 rg BT 65.01 712.60 Td (V) Tj ET Q q 0 0 0 rg BT 71.94 712.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 94.25 712.60 Td (Measur) Tj ET Q q 0 0 0 rg BT 130.10 712.60 Td (ements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.55 Td (The following section applies the fair value hierarchy and disclosure requirements for the Company) Tj ET Q q 0 0 0 rg BT 433.32 695.55 Td (s financial instruments that are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.55 Td (carried at fair value. ) Tj ET Q q 0 0 0 rg BT 114.32 683.55 Td (The fair value hierarchy prioritizes the inputs in the valuation techniques used to measure fair value into three broad ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.55 Td (Levels \(Level 1, 2 or 3\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.55 Td (Level 1 ) Tj ET Q q 0 0 0 rg BT 85.50 653.55 Td (Observable inputs that reflect quoted prices for identical assets or liabilities in active markets that the Company has the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 641.55 Td (ability to access at the measurement date. Level 1 securities include highly liquid U.S. ) Tj ET Q q 0 0 0 rg BT 432.72 641.55 Td (T) Tj ET Q q 0 0 0 rg BT 438.48 641.55 Td (reasuries, money market funds and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 629.55 Td (exchange traded equity securities, open-ended mutual funds reported in separate account assets and exchange-traded ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 617.55 Td (derivative securities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.55 Td (Level 2 ) Tj ET Q q 0 0 0 rg BT 85.50 599.55 Td (Observable inputs, other than quoted prices included in Level 1, for the asset or liability or prices for similar assets and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 587.55 Td (liabilities. Most fixed maturities and preferred stocks, including those reported in separate account assets, are model priced ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 575.55 Td (by vendors using observable inputs and are classified within Level 2. ) Tj ET Q q 0 0 0 rg BT 366.27 575.55 Td (Also included are limited partnerships and other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 563.55 Td (alternative assets measured at fair value w) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 254.31 563.55 Td (here an investment can be redeemed, or substantially redeemed, at the NA) Tj ET Q q 0 0 0 rg BT 540.99 563.55 Td (V) Tj ET Q q 0 0 0 rg BT 547.82 563.55 Td ( at the ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 85.50 551.95 Td (measurement date or in the near) Tj ET Q q 0 0 0 rg BT 209.46 551.95 Td (-term, not to exceed 90 days; as well as, derivative instruments.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.95 Td (Level 3 ) Tj ET Q q 0 0 0 rg BT 85.50 533.95 Td (V) Tj ET Q q 0 0 0 rg BT 91.61 533.95 Td (aluations that are derived from techniques in which one or more of the significant inputs are unobservable \(including ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 521.95 Td (assumptions about risk\). Level 3 securities include less liquid securities, guaranteed product embedded and reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 509.95 Td (derivatives and other complex derivative securities, as well as limited partnerships and other alternative investments carried ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 497.95 Td (at fair value that cannot be redeemed in the near) Tj ET Q q 0 0 0 rg BT 277.70 497.95 Td (-term at the NA) Tj ET Q q 0 0 0 rg BT 339.45 497.95 Td (V) Tj ET Q q 0 0 0 rg BT 345.38 497.95 Td (. Because Level 3 fair values, by their nature, contain one ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 485.95 Td (or more significant unobservable inputs as there is little or no observable market for these assets and liabilities, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 473.95 Td (considerable judgment is used to determine the Level 3 fair values. Level 3 fair values represent the Company) Tj ET Q q 0 0 0 rg BT 528.68 473.95 Td (s best ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 461.95 Td (estimate of an amount that could be realized in a current market exchange absent actual market exchanges.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.95 Td (In many situations, inputs used to measure the fair value of an asset or liability position may fall into dif) Tj ET Q q 0 0 0 rg BT 447.90 443.95 Td (ferent levels of the fair value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.95 Td (hierarchy) Tj ET Q q 0 0 0 rg BT 68.60 431.95 Td (. In these situations, the Company will determine the level in which the fair value falls based upon the lowest level input that is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.95 Td (significant to the determination of the fair value. ) Tj ET Q q 0 0 0 rg BT 227.64 419.95 Td (T) Tj ET Q q 0 0 0 rg BT 233.40 419.95 Td (ransfers of securities among the levels occur at the beginning of the reporting period. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.95 Td (For the year ended December 31, 2013, transfers from Level 1 to Level 2 were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.88 407.95 Td ($1.3 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.99 407.95 Td (, which represented previously on-the-run ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.95 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 51.60 395.95 Td (T) Tj ET Q q 0 0 0 rg BT 57.36 395.95 Td (reasury securities that are now of) Tj ET Q q 0 0 0 rg BT 189.63 395.95 Td (f-the-run, and there were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.51 395.95 Td (no) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.51 395.95 Td ( transfers from Level 2 to Level 1. In most cases, both observable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.95 Td (\(e.g., changes in interest rates\) and unobservable \(e.g., changes in risk assumptions\) inputs are used in the determination of fair values ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.95 Td (that the Company has classified within Level 3. Consequently) Tj ET Q q 0 0 0 rg BT 278.86 371.95 Td (, these values and the related gains and losses are based upon both ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.95 Td (observable and unobservable inputs. ) Tj ET Q q 0 0 0 rg BT 179.34 359.95 Td (The Company) Tj ET Q q 0 0 0 rg BT 239.05 359.95 Td (s fixed maturities included in Level 3 are classified as such because these securities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 347.95 Td (are primarily priced by independent brokers and/or are within illiquid markets.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.95 Td (The following tables present assets and \(liabilities\)carried at fair value by hierarchy level. ) Tj ET Q q 0 0 0 rg BT 394.79 329.95 Td (These disclosures provide information as to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.95 Td (the extent to which the Company uses fair value to measure financial instruments and information about the inputs used to value those ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.95 Td (financial instruments to allow users to assess the relative reliability of the measurements. ) Tj ET Q q 0 0 0 rg BT 389.56 305.95 Td (The following table presents assets and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.95 Td (\(liabilities\) carried at fair value by hierarchy level.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 329 0 obj <> endobj 330 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-28) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 648.50 274.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 648.50 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 648.50 70.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 648.50 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 648.50 68.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 623.50 274.00 -11.00 re f /GS0 gs 0.8 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0.9333333333333333 1 rg /GS0 gs 32.00 115.50 274.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 115.50 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 115.50 70.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 115.50 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 115.50 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 91.50 274.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 91.50 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 91.50 70.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 91.50 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 91.50 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 65.50 274.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 65.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 374.00 65.50 70.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 444.00 65.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 65.50 68.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 707.5 m 374 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 707.5 m 444 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 707.5 m 512 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 707.5 m 580 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 648.5 m 374 648.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 648.5 m 444 648.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 648.5 m 512 648.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 648.5 m 580 648.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 529.5 m 306 529.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 529.5 m 374 529.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374 529.5 m 444 529.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 444 529.5 m 512 529.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512 529.5 m 580 529.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 378.5 m 306 378.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 378.5 m 374 378.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374 378.5 m 444 378.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 444 378.5 m 512 378.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512 378.5 m 580 378.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 305.5 m 306 305.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 291.5 m 306 291.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 305.5 m 374 305.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 291.5 m 374 291.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374 305.5 m 444 305.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 374 291.5 m 444 291.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 444 305.5 m 512 305.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 444 291.5 m 512 291.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512 305.5 m 580 305.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 291.5 m 580 291.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 201.5 m 306 201.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 201.5 m 374 201.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374 201.5 m 444 201.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 444 201.5 m 512 201.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512 201.5 m 580 201.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 91.5 m 306 91.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 91.5 m 374 91.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 374 91.5 m 444 91.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 444 91.5 m 512 91.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512 91.5 m 580 91.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 65.5 m 306 65.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 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Tj ET Q q 0 0 0 rg BT 396.03 670.95 Td ( Identical) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.50 661.95 Td (Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.60 652.95 Td (\(Level 1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.70 679.95 Td (Significant) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 455.50 670.95 Td (Observable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.95 661.95 Td (Inputs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.60 652.95 Td (\(Level 2\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.70 679.95 Td (Significant) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.95 670.95 Td (Unobservable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.95 661.95 Td (Inputs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.60 652.95 Td (\(Level 3\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 639.18 Td (Assets accounted for at fair value on a recurring basis) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 308.50 638.96 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 376.50 638.96 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 446.50 638.96 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 514.50 638.96 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 625.12 Td (Fixed maturities, AFS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 614.12 Td (ABS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.50 614.12 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.00 614.12 Td (2,365) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.50 614.12 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 614.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.50 614.12 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.00 614.12 Td (2,218) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.50 614.12 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.50 614.12 Td (147) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 603.12 Td (CDOs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.00 603.12 Td (2,387) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 603.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.00 603.12 Td (1,723) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.50 603.12 Td (664) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 592.12 Td (CMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.00 592.12 Td (4,446) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 592.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.00 592.12 Td (3,783) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.50 592.12 Td (663) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 581.12 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.00 581.12 Td (28,490) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 581.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.00 581.12 Td (27,216) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.00 581.12 Td (1,274) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 570.07 Td (Foreign government/government agencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.00 570.07 Td (4,104) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 570.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.00 570.07 Td (4,039) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 570.07 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 557.07 Td (States, municipalities and political subdivisions \(Municipal\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.00 557.07 Td (12,173) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 557.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.00 557.07 Td (12,104) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 557.07 Td (69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 544.12 Td (RMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.00 544.12 Td (4,647) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 544.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.00 544.12 Td (3,375) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.00 544.12 Td (1,272) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 532.12 Td (U.S. Treasuries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.00 532.12 Td (3,745) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.00 532.12 Td (1,311) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.00 532.12 Td (2,434) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 532.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 520.12 Td (Total fixed maturities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.00 520.12 Td (62,357) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.00 520.12 Td (1,311) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.00 520.12 Td (56,892) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.00 520.12 Td (4,154) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 508.12 Td (Fixed maturities, FVO) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.50 508.12 Td (844) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 508.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.50 508.12 Td (651) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.50 508.12 Td (193) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 496.07 Td (Equity securities, trading) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.00 496.07 Td (19,745) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 496.07 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.00 496.07 Td (19,733) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 496.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 483.12 Td (Equity securities, AFS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.50 483.12 Td (868) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.50 483.12 Td (454) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.50 483.12 Td (337) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 483.12 Td (77) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 471.12 Td (Derivative assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 461.12 Td (Credit derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.50 461.12 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 461.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 461.12 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.50 461.12 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 450.12 Td (Equity derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.50 450.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 450.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 450.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 450.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 439.12 Td (Foreign exchange derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.50 439.12 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 439.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 439.12 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 439.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 427.12 Td (Interest rate derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.15 427.12 Td (\(21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 427.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 427.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 427.12 Td (\(63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.50 427.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 427.12 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 416.12 Td (U.S. GMWB hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.50 416.12 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 416.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 416.12 Td (\(42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.50 416.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 416.12 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 404.12 Td (U.S. macro hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.50 404.12 Td (109) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 404.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 404.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.50 404.12 Td (109) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 392.12 Td (International program hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.50 392.12 Td (272) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 392.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.50 392.12 Td (241) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 392.12 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 380.12 Td (Other derivative contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.50 380.12 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 380.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 380.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 380.12 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 369.12 Td (Total derivative assets [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.50 369.12 Td (442) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 369.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.50 369.12 Td (170) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.50 369.12 Td (272) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 357.12 Td (Short-term investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.00 357.12 Td (4,008) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.50 357.12 Td (427) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.00 357.12 Td (3,581) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 357.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 345.12 Td (Limited partnerships and other alternative investments [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.50 345.12 Td (921) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 345.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.50 345.12 Td (813) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.50 345.12 Td (108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 333.12 Td (Reinsurance recoverable for U.S. GMWB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.50 333.12 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 333.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 333.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 333.12 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 321.12 Td (Modified coinsurance reinsurance contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.50 321.12 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 321.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 321.12 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 321.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 309.07 Td (Separate account assets [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.00 309.07 Td (138,495) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.00 309.07 Td (99,930) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.00 309.07 Td (37,828) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.50 309.07 Td (737) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 296.18 Td (Total assets accounted for at fair value on a recurring basis) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.50 296.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 331.00 296.18 Td (227,776) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 376.50 296.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 401.00 296.18 Td (102,134) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 446.50 296.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.00 296.18 Td (120,072) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.50 296.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 547.00 296.18 Td (5,570) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 282.23 Td (Percentage of level to total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 348.50 282.23 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.50 282.23 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.50 282.23 Td (45) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.50 282.23 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 491.50 282.23 Td (53) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.50 282.23 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 564.50 282.23 Td (2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 569.50 282.23 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 269.18 Td (Liabilities accounted for at fair value on a recurring basis) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.50 269.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.50 269.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.50 269.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.50 269.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 255.07 Td (Other policyholder funds and benefits payable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.50 255.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.50 255.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.50 255.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.50 255.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 242.12 Td (U.S guaranteed withdrawal benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.50 242.12 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.15 242.12 Td (\(36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 242.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.50 242.12 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 242.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.50 242.12 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 242.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.50 242.12 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 242.12 Td (\(36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.50 242.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 230.07 Td (International guaranteed withdrawal benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.50 230.07 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 230.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 230.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.50 230.07 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 217.07 Td (International other guaranteed living benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.50 217.07 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 217.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 217.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.50 217.07 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 204.12 Td (Equity linked notes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.15 204.12 Td (\(18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 204.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 204.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 204.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 204.12 Td (\(18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.50 204.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 192.07 Td (Total other policyholder funds and benefits payable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.15 192.07 Td (\(48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 192.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 192.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 192.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 192.07 Td (\(48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.50 192.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 179.12 Td (Derivative liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 167.07 Td (Credit derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.15 167.07 Td (\(12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 167.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 167.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.15 167.07 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.50 167.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 167.07 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.50 167.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 154.12 Td (Equity derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.50 154.12 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 154.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 154.12 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.50 154.12 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 143.07 Td (Foreign exchange derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.15 143.07 Td (\(388) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 143.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 143.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.15 143.07 Td (\(388) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.50 143.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 143.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 130.12 Td (Interest rate derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.15 130.12 Td (\(582) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 130.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 130.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.15 130.12 Td (\(558) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.50 130.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 130.12 Td (\(24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.50 130.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 119.07 Td (U.S. GMWB hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.50 119.07 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 119.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 119.07 Td (\(63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.50 119.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 119.07 Td (78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 106.12 Td (U.S. macro hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.50 106.12 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 106.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 106.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 106.12 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 94.12 Td (International program hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.15 94.12 Td (\(305) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 94.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 94.12 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.15 94.12 Td (\(245) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.50 94.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 94.12 Td (\(60) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.50 94.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 82.07 Td (Total derivative liabilities [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.65 82.07 Td (\(1,223) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 82.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 82.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.65 82.07 Td (\(1,247) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.50 82.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 82.07 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 69.07 Td (Consumer notes [5]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.15 69.07 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.50 69.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 69.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 69.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 69.07 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.50 69.07 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 55.18 Td (Total liabilities accounted for at fair value on a recurring basis) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.50 55.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 337.65 55.18 Td (\(1,273) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.50 55.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 376.50 55.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.50 55.18 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 446.50 55.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 475.65 55.18 Td (\(1,247) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 501.50 55.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.50 55.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 556.15 55.18 Td (\(26) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 569.50 55.18 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) 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rg BT 489.50 420.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.15 420.17 Td (\(11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 420.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 405.17 Td (Equity derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.50 405.17 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 405.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.50 405.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.50 405.17 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 390.17 Td (Foreign exchange derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.50 390.17 Td (104) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 390.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.50 390.17 Td (104) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.50 390.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 375.17 Td (Interest rate derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.50 375.17 Td (235) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 375.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.50 375.17 Td (268) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.15 375.17 Td (\(33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.50 375.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 360.17 Td (U.S. GMWB hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.50 360.17 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 360.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 360.17 Td (\(53) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.50 360.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.50 360.17 Td (89) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 345.17 Td (U.S. macro hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.50 345.17 Td (186) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 345.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.50 345.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 345.17 Td (186) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 330.17 Td (International program hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.50 330.17 Td (448) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 330.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.50 330.17 Td (318) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 330.17 Td (130) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 315.17 Td (Other derivative contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.50 315.17 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 315.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.50 315.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.50 315.17 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 300.17 Td (Total derivative assets [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.00 300.17 Td (1,045) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 300.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.50 300.17 Td (629) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 300.17 Td (416) Tj ET Q BT 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10.00 Tf ET q 0 0 0 rg BT 544.50 255.17 Td (191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 240.17 Td (Separate account assets [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.00 240.17 Td (138,509) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.00 240.17 Td (97,988) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.00 240.17 Td (39,938) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 240.17 Td (583) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 226.18 Td (Total assets accounted for at fair value on a recurring basis) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 292.50 226.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 317.00 226.18 Td (262,065) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.50 226.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 387.00 226.18 Td (100,637) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 432.50 226.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.00 226.18 Td (153,888) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 502.50 226.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 537.00 226.18 Td (7,540) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 212.18 Td (Percentage of level to total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 334.50 212.18 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 349.50 212.18 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.50 212.18 Td (38) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.50 212.18 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.50 212.18 Td (59) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 489.50 212.18 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.50 212.18 Td (3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.50 212.18 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 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RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 389.5 m 503 389.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 503 403.5 m 581 403.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 503 389.5 m 581 389.5 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 709.96 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 413.70 709.95 Td (December 31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 334.65 659.95 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 380.85 695.95 Td (Quoted Prices) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.10 686.95 Td (in ) Tj ET Q q 0 0 0 rg BT 400.36 686.95 Td (Active) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.95 677.95 Td (Markets for) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 378.10 668.95 Td (Identical ) Tj ET Q q 0 0 0 rg BT 413.85 668.95 Td (Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.10 659.95 Td (\(Level 1\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 453.70 686.95 Td (Significant) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 452.50 677.95 Td (Observable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.95 668.95 Td (Inputs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 457.60 659.95 Td (\(Level 2\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.70 686.95 Td (Significant) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 514.95 677.95 Td (Unobservable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.95 668.95 Td (Inputs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.60 659.95 Td (\(Level 3\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 646.18 Td (Liabilities accounted for at fair value on a recurring basis) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.50 646.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.50 646.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.50 646.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.50 646.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 632.07 Td (Other policyholder funds and benefits payable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.50 632.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.50 632.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.50 632.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.50 632.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 618.07 Td (U.S guaranteed withdrawal benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.50 618.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.30 618.12 Td (\(1,249) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 618.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.50 618.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 618.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.50 618.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 618.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.50 618.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.30 618.07 Td (\(1,249) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 618.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 604.07 Td (International guaranteed withdrawal benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.80 604.12 Td (\(50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 604.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 604.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 604.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 604.07 Td (\(50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 604.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 590.07 Td (International other guaranteed living benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.15 590.07 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 590.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 590.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 590.07 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 576.07 Td (Equity linked notes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.80 576.12 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 576.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 576.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 576.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 576.07 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 576.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 562.07 Td (Total other policyholder funds and benefits payable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.30 562.12 Td (\(1,304) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 562.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 562.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 562.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.30 562.07 Td (\(1,304) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 562.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 548.07 Td (Derivative liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.50 548.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.50 548.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.50 548.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.50 548.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 534.07 Td (Credit derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.80 534.12 Td (\(18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 534.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 534.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 534.12 Td (\(33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.15 534.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 534.07 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 520.07 Td (Equity derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.15 520.07 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 520.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 520.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 520.07 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 506.07 Td (Foreign exchange derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.80 506.12 Td (\(24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 506.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 506.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 506.12 Td (\(24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.15 506.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 506.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 492.07 Td (Interest rate derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.80 492.12 Td (\(517) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 492.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 492.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.80 492.12 Td (\(518) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.15 492.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 492.07 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 478.07 Td (U.S. GMWB hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.15 478.07 Td (536) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 478.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 478.07 Td (106) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 478.07 Td (430) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 464.07 Td (U.S Macro hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.15 464.07 Td (100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 464.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 464.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 464.07 Td (100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 450.07 Td (International program hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.80 450.12 Td (\(279) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 450.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 450.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.80 450.12 Td (\(217) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.15 450.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 450.07 Td (\(62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 450.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 436.07 Td (Total derivative liabilities [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.80 436.12 Td (\(177) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 436.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 436.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.80 436.12 Td (\(686) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.15 436.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 436.07 Td (509) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 422.07 Td (Other liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.15 422.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 422.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 422.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 422.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 408.07 Td (Consumer notes [5]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.80 408.12 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 408.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 408.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 408.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 408.07 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 408.07 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 394.18 Td (Total liabilities accounted for at fair value on a recurring basis) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.50 394.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.30 394.23 Td (\(1,483) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 366.15 394.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.50 394.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.15 394.18 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 449.50 394.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.80 394.23 Td (\(686) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 499.15 394.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.50 394.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.80 394.18 Td (\(797) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 394.18 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 379.20 Td ([1] ) Tj ET Q q 0 0 0 rg BT 85.50 379.20 Td (Includes OTC and OTC-clear) Tj ET Q q 0 0 0 rg BT 192.41 379.20 Td (ed derivative instruments in a net asset value position after consideration of the impact of collateral ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 368.40 Td (posting r) Tj ET Q q 0 0 0 rg BT 117.42 368.40 Td (equir) Tj ET Q q 0 0 0 rg BT 136.09 368.40 Td (ements, which may be imposed by agr) Tj ET Q q 0 0 0 rg BT 272.47 368.40 Td (eements, clearinghouse rules, and applicable law) Tj ET Q q 0 0 0 rg BT 450.03 368.40 Td (. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 454.36 368.40 Td (As of December 31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 545.59 368.40 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 357.60 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 103.50 357.60 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 108.00 357.60 Td ($128) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 126.00 357.60 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 144.00 357.60 Td ($160) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 162.00 357.60 Td (, r) Tj ET Q q 0 0 0 rg BT 169.67 357.60 Td (espectively) Tj ET Q q 0 0 0 rg BT 208.64 357.60 Td (, was netted against the derivative asset value in the Consolidated Balance Sheet and is excluded fr) Tj ET Q q 0 0 0 rg BT 565.98 357.60 Td (om ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 346.80 Td (the table above. See footnote 4 below for derivative liabilities.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 336.00 Td ([2] ) Tj ET Q q 0 0 0 rg BT 85.50 336.00 Td (Repr) Tj ET Q q 0 0 0 rg BT 102.66 336.00 Td (esents hedge funds wher) Tj ET Q q 0 0 0 rg BT 190.06 336.00 Td (e investment company accounting has been applied to a wholly-owned fund of funds measur) Tj ET Q q 0 0 0 rg BT 521.42 336.00 Td (ed at fair value.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 325.20 Td ([3] ) Tj ET Q q 0 0 0 rg BT 85.50 325.20 Td (Appr) Tj ET Q q 0 0 0 rg BT 103.17 325.20 Td (oximately ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 140.40 325.20 Td ($2.4 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 181.90 325.20 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 199.90 325.20 Td ($3.1 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 241.40 325.20 Td ( of investment sales r) Tj ET Q q 0 0 0 rg BT 317.06 325.20 Td (eceivable that ar) Tj ET Q q 0 0 0 rg BT 377.20 325.20 Td (e not subject to fair value accounting ar) Tj ET Q q 0 0 0 rg BT 521.09 325.20 Td (e excluded ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 561.57 325.20 Td (as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 314.40 Td (December 31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 156.23 314.40 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 174.23 314.40 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 192.23 314.40 Td (, r) Tj ET Q q 0 0 0 rg BT 199.90 314.40 Td (espectively) Tj ET Q q 0 0 0 rg BT 238.87 314.40 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 303.60 Td ([4] ) Tj ET Q q 0 0 0 rg BT 85.50 303.60 Td (Includes OTC and OTC-clear) Tj ET Q q 0 0 0 rg BT 192.41 303.60 Td (ed derivative instruments in a net negative market value position \(derivative liability\). In the Level 3 r) Tj ET Q q 0 0 0 rg BT 559.23 303.60 Td (oll-) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 292.80 Td (forwar) Tj ET Q q 0 0 0 rg BT 109.67 292.80 Td (d table included below in this Note 5, the sum of the derivative asset and liability positions ar) Tj ET Q q 0 0 0 rg BT 445.81 292.80 Td (e r) Tj ET Q q 0 0 0 rg BT 455.22 292.80 Td (eferr) Tj ET Q q 0 0 0 rg BT 472.38 292.80 Td (ed to as fr) Tj ET Q q 0 0 0 rg BT 513.30 292.80 Td (eestanding ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 282.00 Td (derivatives and ar) Tj ET Q q 0 0 0 rg BT 155.66 282.00 Td (e pr) Tj ET Q q 0 0 0 rg BT 169.57 282.00 Td (esented on a net basis.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 271.20 Td ([5] ) Tj ET Q q 0 0 0 rg BT 85.50 271.20 Td (Repr) Tj ET Q q 0 0 0 rg BT 102.66 271.20 Td (esents embedded derivatives associated with non-funding agr) Tj ET Q q 0 0 0 rg BT 323.79 271.20 Td (eement-backed consumer equity linked notes.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 253.20 Td (Determination of Fair V) Tj ET Q q 0 0 0 rg BT 131.24 253.20 Td (alues) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 235.45 Td (The valuation methodologies used to determine the fair values of assets and liabilities under the exit price notion, reflect market-) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 223.70 Td (participant objectives and are based on the application of the fair value hierarchy that prioritizes relevant observable market inputs over ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 211.95 Td (unobservable inputs. ) Tj ET Q q 0 0 0 rg BT 114.88 211.95 Td (The Company determines the fair values of certain financial assets and financial liabilities based on quoted market ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 200.20 Td (prices where available and where prices represent a reasonable estimate of fair value. ) Tj ET Q q 0 0 0 rg BT 367.61 200.20 Td (The Company also determines fair value based on ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 188.40 Td (future cash flows discounted at the appropriate current market rate. Fair values reflect adjustments for counterparty credit quality) Tj ET Q q 0 0 0 rg BT 536.45 188.40 Td (, the ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 176.65 Td (Company) Tj ET Q q 0 0 0 rg BT 72.33 176.65 Td (s default spreads, liquidity and, where appropriate, risk mar) Tj ET Q q 0 0 0 rg BT 305.37 176.65 Td (gins on unobservable parameters. ) Tj ET Q q 0 0 0 rg BT 438.81 176.65 Td (The following is a discussion of the ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 164.90 Td (methodologies used to determine fair values for the financial instruments listed in the above tables.) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 147.15 Td (The fair value process is monitored by the ) Tj ET Q q 0 0 0 rg BT 198.96 147.15 Td (V) Tj ET Q q 0 0 0 rg BT 204.95 147.15 Td (aluation Committee, which is a cross-functional group of senior management within the ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 135.40 Td (Company that meets at least quarterly) Tj ET Q q 0 0 0 rg BT 179.18 135.40 Td (. ) Tj ET Q q 0 0 0 rg BT 183.90 135.40 Td (The ) Tj ET Q q 0 0 0 rg BT 201.41 135.40 Td (V) Tj ET Q q 0 0 0 rg BT 207.40 135.40 Td (aluation Committee is co-chaired by the Heads of Investment Operations and ) Tj ET Q q 0 0 0 rg BT 511.93 135.40 Td (Accounting, and ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 123.60 Td (has representation from various investment sector professionals, accounting, operations, legal, compliance and risk management. ) Tj ET Q q 0 0 0 rg BT 539.39 123.60 Td (The ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 111.85 Td (purpose of the committee is to oversee the pricing policy and procedures by ensuring objective and reliable valuation practices and pricing ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 100.10 Td (of financial instruments, as well as addressing fair valuation issues and approving changes to valuation methodologies and pricing sources. ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 88.35 Td (There are also two working groups, a Securities Fair ) Tj ET Q q 0 0 0 rg BT 239.24 88.35 Td (V) Tj ET Q q 0 0 0 rg BT 245.23 88.35 Td (alue ) Tj ET Q q 0 0 0 rg BT 263.82 88.35 Td (W) Tj ET Q q 0 0 0 rg BT 272.29 88.35 Td (orking Group \(Securities ) Tj ET Q q 0 0 0 rg BT 376.34 88.35 Td (W) Tj ET Q q 0 0 0 rg BT 384.81 88.35 Td (orking Group\) and a Derivatives Fair ) Tj ET Q q 0 0 0 rg BT 537.03 88.35 Td (V) Tj ET Q q 0 0 0 rg BT 543.02 88.35 Td (alue ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 76.60 Td (W) Tj ET Q q 0 0 0 rg BT 39.96 76.60 Td (orking Group \("Derivatives ) Tj ET Q q 0 0 0 rg BT 150.20 76.60 Td (W) Tj ET Q q 0 0 0 rg BT 158.66 76.60 Td (orking Group"\), which include the Heads of Investment Operations and ) Tj ET Q q 0 0 0 rg BT 441.07 76.60 Td (Accounting, as well as other ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 64.80 Td (investment, operations, accounting and risk management professionals that meet monthly to review market data trends, pricing and trading ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 53.05 Td (statistics and results, and any proposed pricing methodology changes described in more detail in the following paragraphs. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 335 0 obj <> endobj 336 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-31) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (The Company also has an enterprise-wide Operational Risk Management function, led by the Chief Operational Risk Of) Tj ET Q q 0 0 0 rg BT 503.50 713.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 521.05 713.25 Td (, which is ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 701.45 Td (responsible for establishing, maintaining and communicating the framework, principles and guidelines of the Company's operational risk ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 689.70 Td (management program. ) Tj ET Q q 0 0 0 rg BT 124.39 689.70 Td (This includes model risk management which provides an independent review of the suitability) Tj ET Q q 0 0 0 rg BT 493.33 689.70 Td (, characteristics and ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 677.95 Td (reliability of model inputs; as well as, an analysis of significant changes to current models. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 659.95 Td (AFS Securities, Fixed Maturities, FVO, Equity Securities, T) Tj ET Q q 0 0 0 rg BT 279.21 659.95 Td (rading, and Short-term Investments) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 642.20 Td (The fair value of ) Tj ET Q q 0 0 0 rg BT 98.98 642.20 Td (AFS securities, fixed maturities, FVO, equity securities, trading, and short-term investments in an active and orderly ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 630.45 Td (market \(e.g. not distressed or forced liquidation\) are determined by management after considering one of three primary sources of ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 618.65 Td (information: third-party pricing services, independent broker quotations or pricing matrices. Security pricing is applied using a waterfall ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 606.90 Td (approach whereby publicly available prices are first sought from third-party pricing services, the remaining unpriced securities are ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 594.90 Td (submitted to independent brokers for prices, or lastly) Tj ET Q q 0 0 0 rg BT 238.24 594.90 Td (, securities are priced using a pricing matrix. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.57 594.90 Td (If none of these pricing sources are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 582.90 Td (available, the Company will estimate fair value utilizing an internal pricing model.) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 362.23 582.90 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.68 582.90 Td (T) Tj ET Q q 0 0 0 rg BT 370.09 582.90 Td (ypical inputs used by these pricing methods include, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 570.90 Td (but are not limited to, reported trades, benchmark yields, issuer spreads, bids, of) Tj ET Q q 0 0 0 rg BT 351.51 570.90 Td (fers, and/or estimated cash flows, prepayments speeds ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 558.90 Td (and default rates.) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 100.08 558.90 Td ( Based on the typical trading volumes and the lack of quoted market prices for fixed maturities, third-party pricing ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 547.15 Td (services will normally derive the security prices from recent reported trades for identical or similar securities making adjustments through ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 535.40 Td (the reporting date based upon available market observable information as outlined above. If there are no recently reported trades, the third-) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 523.65 Td (party pricing services and independent brokers may use matrix or model processes to develop a security price where future cash flow ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 511.85 Td (expectations are developed based upon collateral performance and discounted at an estimated market rate. Included in the pricing of ) Tj ET Q q 0 0 0 rg BT 551.22 511.85 Td (ABS ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 500.10 Td (and RMBS are estimates of the rate of future prepayments of principal over the remaining life of the securities. Such estimates are derived ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 488.35 Td (based on the characteristics of the underlying structure and prepayment speeds previously experienced at the interest rate levels projected ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 476.60 Td (for the underlying collateral. ) Tj ET Q q 0 0 0 rg BT 145.52 476.60 Td (Actual prepayment experience may vary from these estimates.) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 458.85 Td (Prices from third-party pricing services are often unavailable for securities that are rarely traded or are traded only in privately negotiated ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 447.05 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 82.67 447.05 Td (As a result, certain securities are priced via independent broker quotations which utilize inputs that may be dif) Tj ET Q q 0 0 0 rg BT 514.09 447.05 Td (ficult to ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 435.30 Td (corroborate with observable market based data. ) Tj ET Q q 0 0 0 rg BT 218.98 435.30 Td (Additionally) Tj ET Q q 0 0 0 rg BT 267.89 435.30 Td (, the majority of these independent broker quotations are non-binding.) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 417.55 Td (A) Tj ET Q q 0 0 0 rg BT 38.04 417.55 Td ( pricing matrix is used to price private placement securities for which the Company is unable to obtain a price from a third-party pricing ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 405.80 Td (service by discounting the expected future cash flows from the security by a developed market discount rate utilizing current credit spreads. ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 394.05 Td (Credit spreads are developed each month using market based data for public securities adjusted for credit spread dif) Tj ET Q q 0 0 0 rg BT 484.95 394.05 Td (ferentials between ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 382.25 Td (public and private securities which are obtained from a survey of multiple private placement brokers. ) Tj ET Q q 0 0 0 rg BT 430.25 382.25 Td (The appropriate credit spreads ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 370.50 Td (determined through this survey approach are based upon the issuer) Tj ET Q q 0 0 0 rg BT 293.39 370.50 Td () Tj ET Q q 0 0 0 rg BT 296.11 370.50 Td (s financial strength and term to maturity) Tj ET Q q 0 0 0 rg BT 452.77 370.50 Td (, utilizing an independent public ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 358.75 Td (security index and trade information and adjusting for the non-public nature of the securities.) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 341.00 Td (The Securities ) Tj ET Q q 0 0 0 rg BT 90.10 341.00 Td (W) Tj ET Q q 0 0 0 rg BT 98.57 341.00 Td (orking Group performs ongoing analysis of the prices and credit spreads received from third parties to ensure that the ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 329.25 Td (prices represent a reasonable estimate of the fair value. ) Tj ET Q q 0 0 0 rg BT 248.99 329.25 Td (This process involves quantitative and qualitative analysis and is overseen by ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 317.45 Td (investment and accounting professionals. ) Tj ET Q q 0 0 0 rg BT 195.07 317.45 Td (As a part of this analysis, the Company considers trading volume, new issuance activity and other ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 305.70 Td (factors to determine whether the market activity is significantly dif) Tj ET Q q 0 0 0 rg BT 293.38 305.70 Td (ferent than normal activity in an active market, and if so, whether ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 293.95 Td (transactions may not be orderly considering the weight of available evidence. If the available evidence indicates that pricing is based upon ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 282.20 Td (transactions that are stale or not orderly) Tj ET Q q 0 0 0 rg BT 185.97 282.20 Td (, the Company places little, if any) Tj ET Q q 0 0 0 rg BT 317.60 282.20 Td (, weight on the transaction price and will estimate fair value ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 270.45 Td (utilizing an internal pricing model. In addition, the Company ensures that prices received from independent brokers represent a reasonable ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 258.65 Td (estimate of fair value through the use of internal and external cash flow models developed based on spreads, and when available, market ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 246.90 Td (indices. ) Tj ET Q q 0 0 0 rg BT 63.62 246.90 Td (As a result of this analysis, if the Company determines that there is a more appropriate fair value based upon the available market ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 235.15 Td (data, the price received from the third party is adjusted accordingly and approved by the ) Tj ET Q q 0 0 0 rg BT 379.09 235.15 Td (V) Tj ET Q q 0 0 0 rg BT 385.08 235.15 Td (aluation Committee. ) Tj ET Q q 0 0 0 rg BT 467.37 235.15 Td (The Company) Tj ET Q q 0 0 0 rg BT 525.88 235.15 Td (s internal ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 223.40 Td (pricing model utilizes the Company) Tj ET Q q 0 0 0 rg BT 174.66 223.40 Td (s best estimate of expected future cash flows discounted at a rate of return that a market participant ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 211.65 Td (would require. ) Tj ET Q q 0 0 0 rg BT 90.92 211.65 Td (The significant inputs to the model include, but are not limited to, current market inputs, such as credit loss assumptions, ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 199.85 Td (estimated prepayment speeds and market risk premiums.) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 182.10 Td (The Company conducts other specific activities to monitor controls around pricing. Daily analyses identify price changes over ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 528.97 182.10 Td (3) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 533.87 182.10 Td (-) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 537.13 182.10 Td (5%) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 550.20 182.10 Td (, sale ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 170.35 Td (trade prices that dif) Tj ET Q q 0 0 0 rg BT 107.24 170.35 Td (fer over ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 140.43 170.35 Td (3%) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 153.49 170.35 Td ( from the prior day) Tj ET Q q 0 0 0 rg BT 230.23 170.35 Td (s price and purchase trade prices that dif) Tj ET Q q 0 0 0 rg BT 388.14 170.35 Td (fer more than ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 443.38 170.35 Td (3%) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 456.44 170.35 Td ( from the current day) Tj ET Q q 0 0 0 rg BT 541.88 170.35 Td (s price. ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 158.60 Td (W) Tj ET Q q 0 0 0 rg BT 39.96 158.60 Td (eekly analyses identify prices that dif) Tj ET Q q 0 0 0 rg BT 185.92 158.60 Td (fer more than ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 241.15 158.60 Td (5%) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 254.22 158.60 Td ( from published bond prices of a corporate bond index. Monthly analyses identify ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 146.85 Td (price changes over ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 107.41 146.85 Td (3%) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 120.47 146.85 Td (, prices that haven) Tj ET Q q 0 0 0 rg BT 194.85 146.85 Td (t changed, missing prices and second source validation on most sectors. ) Tj ET Q q 0 0 0 rg BT 477.63 146.85 Td (Analyses are conducted ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 135.05 Td (by a dedicated pricing unit who follows up with trading and investment sector professionals and challenges prices with vendors when the ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 123.30 Td (estimated assumptions used dif) Tj ET Q q 0 0 0 rg BT 153.53 123.30 Td (fer from what the Company feels a market participant would use. ) Tj ET Q q 0 0 0 rg BT 410.97 123.30 Td (Any changes from the identified pricing ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 111.55 Td (source are verified by further confirmation of assumptions used. Examples of other procedures performed include, but are not limited to, ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 99.80 Td (initial and on-going review of third-party pricing services) Tj ET Q q 0 0 0 rg BT 259.64 99.80 Td ( methodologies, review of pricing statistics and trends and back testing recent ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 88.05 Td (trades. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 337 0 obj <> endobj 338 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-32) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (The Company has analyzed the third-party pricing services) Tj ET Q q 0 0 0 rg BT 265.61 713.25 Td ( valuation methodologies and related inputs, and has also evaluated the various ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 701.45 Td (types of securities in its investment portfolio to determine an appropriate fair value hierarchy level based upon trading activity and the ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 689.70 Td (observability of market inputs. Most prices provided by third-party pricing services are classified into Level 2 because the inputs used in ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 677.95 Td (pricing the securities are market observable. Due to a general lack of transparency in the process that brokers use to develop prices, most ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 666.20 Td (valuations that are based on brokers) Tj ET Q q 0 0 0 rg BT 174.73 666.20 Td ( prices are classified as Level 3. Some valuations may be classified as Level 2 if the price can be ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 654.45 Td (corroborated with observable market data.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 636.45 Td (Derivative Instruments, including embedded derivatives within investments) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 618.80 Td (Derivative instruments are fair valued using pricing valuation models for OTC derivatives that utilize independent market data inputs, quoted ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 607.15 Td (market prices for exchange-traded and OTC-cleared derivatives, or independent broker quotations. Excluding embedded and reinsurance ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 595.50 Td (related derivatives, as of ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 128.73 595.50 Td (December31, 2013) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 204.96 595.50 Td ( and ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 223.81 595.50 Td (2012) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 243.21 595.50 Td (, ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 248.06 595.50 Td (97%) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 265.84 595.50 Td ( and ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 284.70 595.50 Td (97%) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 302.48 595.50 Td (, respectively) Tj ET Q q 0 0 0 rg BT 353.56 595.50 Td (, of derivatives, based upon notional values, were priced ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 583.85 Td (by valuation models or quoted market prices. ) Tj ET Q q 0 0 0 rg BT 209.11 583.85 Td (The remaining derivatives were priced by broker quotations. ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 566.10 Td (The Derivatives ) Tj ET Q q 0 0 0 rg BT 96.63 566.10 Td (W) Tj ET Q q 0 0 0 rg BT 105.09 566.10 Td (orking Group performs ongoing analysis of the valuations, assumptions and methodologies used to ensure that the prices ) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 554.35 Td (represent a reasonable estimate of the fair value. ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 225.77 554.35 Td (The Company performs various controls on derivative valuations which include both ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 542.70 Td (quantitative and qualitative analysis. ) Tj ET Q q 0 0 0 rg BT 175.08 542.70 Td (Analyses are conducted by a dedicated derivative pricing team that works directly with investment ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 531.05 Td (sector professionals to analyze impacts of changes in the market environment and investigate variances. ) Tj ET Q q 0 0 0 rg BT 436.70 531.05 Td (There is a monthly analysis to ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 519.45 Td (identify market value changes greater than pre-defined thresholds, stale prices, missing prices and zero prices. ) Tj ET Q q 0 0 0 rg BT 460.30 519.45 Td (Also on a monthly basis, a ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 507.80 Td (second source validation, typically to broker quotations, is performed for certain of the more complex derivatives as well as for any existing ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 495.80 Td (deals with a market value greater than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.52 495.80 Td ($10) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 196.52 495.80 Td ( and all new deals during the month. ) Tj ET Q q 0 0 0 rg BT 339.56 495.80 Td (A) Tj ET Q q 0 0 0 rg BT 346.03 495.80 Td ( model validation review is performed on any new models, ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 484.15 Td (which typically includes detailed documentation and validation to a second source. ) Tj ET Q q 0 0 0 rg BT 355.64 484.15 Td (The model validation documentation and results of ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 472.50 Td (validation are presented to the ) Tj ET Q q 0 0 0 rg BT 150.64 472.50 Td (V) Tj ET Q q 0 0 0 rg BT 156.57 472.50 Td (aluation Committee for approval. ) Tj ET Q q 0 0 0 rg BT 288.12 472.50 Td (There is a monthly control to review changes in pricing sources to ensure ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 460.85 Td (that new models are not moved to production until formally approved.) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (The Company utilizes derivative instruments to manage the risk associated with certain assets and liabilities. However) Tj ET Q q 0 0 0 rg BT 490.66 443.25 Td (, the derivative ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 431.60 Td (instrument may not be classified with the same fair value hierarchy level as the associated assets and liabilities. ) Tj ET Q q 0 0 0 rg BT 465.26 431.60 Td (Therefore the realized and ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 419.95 Td (unrealized gains and losses on derivatives reported in Level 3 may not reflect the of) Tj ET Q q 0 0 0 rg BT 356.17 419.95 Td (fsetting impact of the realized and unrealized gains and ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 408.30 Td (losses of the associated assets and liabilities.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 390.30 Td (Limited partnerships and other alternative investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 372.30 Td (Limited partnerships and other alternative investments include hedge funds where investment company accounting has been applied to a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 360.30 Td (wholly-owned fund of funds measured at fair value. ) Tj ET Q q 0 0 0 rg BT 244.03 360.30 Td (These funds are fair valued using the net asset value per share or equivalent ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 348.30 Td (\(NA) Tj ET Q q 0 0 0 rg BT 52.42 348.30 Td (V\), as a practical expedient, calculated on a monthly basis and is the amount at which a unit or shareholder may redeem their ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 336.30 Td (investment, if redemption is allowed. Certain impediments to redemption include, but are not limited to the following: 1\) redemption ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 324.30 Td (notice periods vary and may be as long as 90 days, 2\) redemption may be restricted \(e.g. only be allowed on a quarter) Tj ET Q q 0 0 0 rg BT 501.43 324.30 Td (-end\), 3\) a holding ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 312.30 Td (period referred to as a lock-up may be imposed whereby an investor must hold their investment for a specified period of time before they ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 300.30 Td (can make a notice for redemption, 4\) gating provisions may limit all redemptions in a given period to a percentage of the entities' equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 288.30 Td (interests, or may only allow an investor to redeem a portion of their investment at one time and 5\) early redemption penalties may be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 276.30 Td (imposed that are expressed as a percentage of the amount redeemed. ) Tj ET Q q 0 0 0 rg BT 309.81 276.30 Td (The Company will assess impediments to redemption and current ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 264.30 Td (market conditions that will restrict the redemption at the end of the notice period. ) Tj ET Q q 0 0 0 rg BT 360.85 264.30 Td (Any funds that are subject to significant liquidity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 252.30 Td (restrictions are reported in Level 3; all others have been classified as Level 2. ) Tj ET Q BT /F5 9.70 Tf ET q 0 0 0 rg BT 31.50 230.65 Td (V) Tj ET Q q 0 0 0 rg BT 36.90 230.65 Td (aluation T) Tj ET Q q 0 0 0 rg BT 77.78 230.65 Td (echniques and Inputs for Investments) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 213.05 Td (Generally) Tj ET Q q 0 0 0 rg BT 69.11 213.05 Td (, the Company determines the estimated fair value of its ) Tj ET Q q 0 0 0 rg BT 288.11 213.05 Td (AFS securities, fixed maturities, FVO, equity securities, trading, and short-) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 201.40 Td (term investments using the market approach. ) Tj ET Q q 0 0 0 rg BT 207.76 201.40 Td (The income approach is used for securities priced using a pricing matrix, as well as for ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 189.75 Td (derivative instruments. Certain limited partnerships and other alternative investments are measured at fair value using a NA) Tj ET Q q 0 0 0 rg BT 512.41 189.75 Td (V) Tj ET Q q 0 0 0 rg BT 519.24 189.75 Td ( as a practical ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 178.10 Td (expedient. For Level 1 investments, which are comprised of on-the-run U.S. ) Tj ET Q q 0 0 0 rg BT 331.96 178.10 Td (T) Tj ET Q q 0 0 0 rg BT 337.54 178.10 Td (reasuries, exchange-traded equity securities, short-term ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 166.45 Td (investments, and exchange traded futures and option contracts, valuations are based on observable inputs that reflect quoted prices for ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 154.85 Td (identical assets in active markets that the Company has the ability to access at the measurement date.) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 137.20 Td (For most of the Company) Tj ET Q q 0 0 0 rg BT 133.89 137.20 Td (s debt securities, the following inputs are typically used in the Company) Tj ET Q q 0 0 0 rg BT 416.75 137.20 Td (s pricing methods: reported trades, ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 125.55 Td (benchmark yields, bids and/or estimated cash flows. For securities except U.S. ) Tj ET Q q 0 0 0 rg BT 338.69 125.55 Td (T) Tj ET Q q 0 0 0 rg BT 344.28 125.55 Td (reasuries, inputs also include issuer spreads, which may ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 113.90 Td (consider credit default swaps. Derivative instruments are valued using mid-market inputs that are predominantly observable in the market.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 339 0 obj <> endobj 340 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-33) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 713.30 Td (A) Tj ET Q q 0 0 0 rg BT 37.97 713.30 Td ( description of additional inputs used in the Company) Tj ET Q q 0 0 0 rg BT 248.65 713.30 Td (s Level 2 and Level 3 measurements is listed below:) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 31.50 695.65 Td (Level 2 ) Tj ET Q q 0 0 0 rg BT 85.50 695.65 Td (The fair values of most of the Company) Tj ET Q q 0 0 0 rg BT 243.09 695.65 Td (s Level 2 investments are determined by management after considering prices ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 85.50 684.00 Td (received from third party pricing services. ) Tj ET Q q 0 0 0 rg BT 250.97 684.00 Td (These investments include most fixed maturities and preferred stocks, including ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 85.50 672.40 Td (those reported in separate account assets; as well as, certain limited partnerships and other alternative investments and ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 85.50 660.75 Td (derivative instruments.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 642.75 Td ( ) Tj ET Q BT /F4 9.70 Tf ET q 0 0 0 rg BT 121.50 642.75 Td (ABS, CDOs, CMBS and RMBS) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 241.67 642.75 Td ( Primary inputs also include monthly payment information, collateral performance, ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 121.50 631.10 Td (which varies by vintage year and includes delinquency rates, collateral valuation loss severity rates, collateral ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 121.50 619.45 Td (refinancing assumptions, credit default swap indices and, for ) Tj ET Q q 0 0 0 rg BT 359.09 619.45 Td (ABS and RMBS, estimated prepayment rates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 601.45 Td ( ) Tj ET Q BT /F4 9.70 Tf ET q 0 0 0 rg BT 121.50 601.45 Td (Corporates, including investment grade private placements) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 352.11 601.45 Td ( Primary inputs also include observations of credit ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 121.50 589.80 Td (default swap curves related to the issuer) Tj ET Q q 0 0 0 rg BT 276.11 589.80 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 571.80 Td ( ) Tj ET Q BT /F4 9.70 Tf ET q 0 0 0 rg BT 121.50 571.80 Td (For) Tj ET Q q 0 0 0 rg BT 135.69 571.80 Td (eign government/government agencies) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 285.45 571.80 Td ( - Primary inputs also include observations of credit default swap curves ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 121.50 560.20 Td (related to the issuer and political events in emer) Tj ET Q q 0 0 0 rg BT 306.64 560.20 Td (ging markets.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 542.20 Td ( ) Tj ET Q BT /F4 9.70 Tf ET q 0 0 0 rg BT 121.50 542.20 Td (Municipals) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 165.15 542.20 Td ( Primary inputs also include Municipal Securities Rulemaking Board reported trades and material event ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 121.50 530.55 Td (notices, and issuer financial statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 512.55 Td ( ) Tj ET Q BT /F4 9.70 Tf ET q 0 0 0 rg BT 121.50 512.55 Td (Short-term investments) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 211.21 512.55 Td ( Primary inputs also include material event notices and new issue money market rates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 494.55 Td ( ) Tj ET Q BT /F4 9.70 Tf ET q 0 0 0 rg BT 121.50 494.55 Td (Equity securities, trading) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 219.84 494.55 Td ( Consist of investments in mutual funds. Primary inputs include net asset values obtained ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 121.50 482.90 Td (from third party pricing services.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 464.90 Td ( ) Tj ET Q BT /F4 9.70 Tf ET q 0 0 0 rg BT 121.50 464.90 Td (Cr) Tj ET Q q 0 0 0 rg BT 131.38 464.90 Td (edit derivatives S) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 209.24 464.90 Td (ignificant inputs primarily include the swap yield curve and credit curves.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 446.90 Td ( ) Tj ET Q BT /F4 9.70 Tf ET q 0 0 0 rg BT 121.50 446.90 Td (For) Tj ET Q q 0 0 0 rg BT 135.69 446.90 Td (eign exchange derivatives ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 247.47 446.90 Td ( Significant inputs primarily include the swap yield curve, currency spot and forward ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 121.50 435.25 Td (rates, and cross currency basis curves.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 417.25 Td ( ) Tj ET Q BT /F4 9.70 Tf ET q 0 0 0 rg BT 121.50 417.25 Td (Inter) Tj ET Q q 0 0 0 rg BT 140.00 417.25 Td (est rate derivatives ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 224.85 417.25 Td ( Significant input is primarily the swap yield curve.) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 85.50 399.60 Td ( ) Tj ET Q BT /F4 9.70 Tf ET q 0 0 0 rg BT 121.50 399.60 Td (Limited partnerships and other alternative investments ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 345.66 399.60 Td ( Primary inputs include a NA) Tj ET Q q 0 0 0 rg BT 458.37 399.60 Td (V) Tj ET Q q 0 0 0 rg BT 465.20 399.60 Td ( for investment companies ) Tj ET Q BT /F2 9.70 Tf ET q 0 0 0 rg BT 121.50 388.00 Td (with no redemption restrictions as reported on their U.S. GAAP) Tj ET Q q 0 0 0 rg BT 368.72 388.00 Td ( financial statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 370.00 Td (Level 3 ) Tj ET Q q 0 0 0 rg BT 85.50 370.00 Td (Most of the Company's securities classified as Level 3 include less liquid securities such as lower quality ) Tj ET Q q 0 0 0 rg BT 507.49 370.00 Td (ABS, CMBS, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 358.00 Td (commercial real estate \("CRE"\) CDOs and RMBS primarily backed by below-prime loans. Securities included in level 3 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 346.00 Td (are primarily valued based on broker prices or broker spreads, without adjustments. Primary inputs for non-broker priced ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 334.00 Td (investments, including structured securities, are consistent with the typical inputs used in Level 2 measurements noted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 322.00 Td (above, but are Level 3 due to their less liquid markets. ) Tj ET Q q 0 0 0 rg BT 304.61 322.00 Td (Additionally) Tj ET Q q 0 0 0 rg BT 354.51 322.00 Td (, certain long-dated securities are priced based on third ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 310.00 Td (party pricing services, including municipal securities, foreign government/government agencies, bank loans and below ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 298.00 Td (investment grade private placement securities. Primary inputs for these long-dated securities are consistent with the typical ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 286.00 Td (inputs used in Level 1 and Level 2 measurements noted above, but include benchmark interest rate or credit spread ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 274.00 Td (assumptions that are not observable in the marketplace. Level 3 investments also include certain limited partnerships and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 262.00 Td (other alternative investments measured at fair value where the Company does not have the ability to redeem the investment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 250.00 Td (in the near) Tj ET Q q 0 0 0 rg BT 127.50 250.00 Td (-term at the NA) Tj ET Q q 0 0 0 rg BT 189.25 250.00 Td (V) Tj ET Q q 0 0 0 rg BT 195.18 250.00 Td (. ) Tj ET Q q 0 0 0 rg BT 202.13 250.00 Td (Also included in Level 3 are certain derivative instruments that either have significant ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 238.00 Td (unobservable inputs or are valued based on broker quotations. Significant inputs for these derivative contracts primarily ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 226.00 Td (include the typical inputs used in the Level 1 and Level 2 measurements noted above, but also include equity and interest ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 214.00 Td (rate volatility and swap yield curves beyond observable limits. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 341 0 obj <> endobj 342 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-34) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Significant Unobservable Inputs for Level 3 ) Tj ET Q q 0 0 0 rg BT 214.46 713.25 Td (Assets Measured at Fair V) Tj ET Q q 0 0 0 rg BT 322.82 713.25 Td (alues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The following tables present information about significant unobservable inputs used in Level 3 assets measured at fair value.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 601.75 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 97.00 601.75 38.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 135.00 601.75 76.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.00 601.75 145.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 601.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 601.75 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 601.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 601.75 76.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 551.75 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 97.00 551.75 38.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 135.00 551.75 76.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.00 551.75 145.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 551.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 551.75 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 551.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 551.75 76.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 501.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 97.00 501.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 135.00 501.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.00 501.75 145.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 501.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 501.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 501.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 501.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 471.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 97.00 471.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 135.00 471.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 211.00 471.75 145.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 471.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 402.00 471.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 457.00 471.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 505.00 471.75 76.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 665.75 m 97 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 97 665.75 m 135 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 135 665.75 m 211 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211 665.75 m 356 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 665.75 m 402 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 665.75 m 457 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 665.75 m 505 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 665.75 m 581 665.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 651.75 m 97 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 97 651.75 m 135 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 135 651.75 m 211 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211 651.75 m 356 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 651.75 m 402 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 651.75 m 457 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 651.75 m 505 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 651.75 m 581 651.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 601.75 m 97 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 97 601.75 m 135 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 135 601.75 m 211 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211 601.75 m 356 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 601.75 m 402 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 601.75 m 457 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 601.75 m 505 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 601.75 m 581 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 576.75 m 97 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 97 601.75 m 135 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 97 576.75 m 135 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 135 601.75 m 211 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 135 576.75 m 211 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211 601.75 m 356 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211 576.75 m 356 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 601.75 m 402 601.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 576.75 m 402 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 576.75 m 457 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 576.75 m 505 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 576.75 m 581 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 551.75 m 97 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 97 551.75 m 135 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 135 551.75 m 211 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211 551.75 m 356 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 551.75 m 402 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 551.75 m 457 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 551.75 m 505 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 551.75 m 581 551.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 526.75 m 97 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 97 526.75 m 135 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 135 526.75 m 211 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211 526.75 m 356 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 526.75 m 402 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 526.75 m 457 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 526.75 m 505 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 526.75 m 581 526.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 456.75 m 97 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 97 456.75 m 135 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 135 456.75 m 211 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 211 456.75 m 356 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 456.75 m 402 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 456.75 m 457 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 456.75 m 505 456.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 505 456.75 m 581 456.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 291.20 670.15 Td (As of December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 656.20 Td (Securities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.85 656.20 Td (Unobservable Inputs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.00 642.20 Td (Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 37.70 633.20 Td (accounted for) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.95 624.20 Td (at fair value on) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.20 615.20 Td (a recurring) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 54.45 606.20 Td (basis) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 107.30 615.20 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 104.65 606.20 Td (V) Tj ET Q q 0 0 0 rg BT 110.32 606.20 Td (alue) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 147.30 624.20 Td (Pr) Tj ET Q q 0 0 0 rg BT 156.63 624.20 Td (edominant) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 153.90 615.20 Td (V) Tj ET Q q 0 0 0 rg BT 159.57 615.20 Td (aluation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 157.50 606.20 Td (Method) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 222.70 606.20 Td (SignificantUnobservableInput) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 359.20 606.20 Td (Minimum) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 409.00 606.20 Td (Maximum) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.20 624.20 Td (Weighted) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.80 615.20 Td (Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 475.25 606.20 Td ([1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 523.85 624.20 Td (Impact of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.55 615.20 Td (Incr) Tj ET Q q 0 0 0 rg BT 525.88 615.20 Td (easeinInput) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.20 606.20 Td (on Fair) Tj ET Q q 0 0 0 rg BT 538.29 606.20 Td ( ) Tj ET Q q 0 0 0 rg BT 540.37 606.20 Td (V) Tj ET Q q 0 0 0 rg BT 546.05 606.20 Td (alue [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 592.32 Td (CMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 99.50 592.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 116.15 592.32 Td (663) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.70 592.32 Td (Discounted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.25 582.32 Td (cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.95 592.32 Td (Spread\(encompassesprepayment,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.10 582.32 Td (default risk and loss severity\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.30 592.32 Td (99 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.55 592.32 Td (3,000 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.80 592.32 Td (527 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 592.32 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 567.32 Td (Corporate [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 116.15 567.32 Td (665) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.70 567.32 Td (Discounted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.25 557.32 Td (cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.10 567.32 Td (Spread) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.80 567.32 Td (119 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.55 567.32 Td (5,594 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.80 567.32 Td (344 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 567.32 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 542.32 Td (Municipal [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 121.15 542.32 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.70 542.32 Td (Discounted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.25 532.32 Td (cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.10 542.32 Td (Spread) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.80 542.32 Td (184 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.30 542.32 Td (184 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.80 542.32 Td (184 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 542.32 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 517.32 Td (RMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.60 517.32 Td (1,272) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.70 517.32 Td (Discounted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.25 507.32 Td (cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.10 517.32 Td (Spread) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.30 517.32 Td (62 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.55 517.32 Td (1,748 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.80 517.32 Td (232 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 517.32 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.60 492.32 Td (Constant prepayment rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.30 492.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.05 492.32 Td (10.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.05 492.32 Td (3.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.10 492.32 Td (Decrease [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.30 477.32 Td (Constant default rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.05 477.32 Td (1.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.05 477.32 Td (22.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.05 477.32 Td (8.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 477.32 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.45 462.32 Td (Loss severity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.30 462.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.55 462.32 Td (100.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.55 462.32 Td (80.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 462.32 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 363.75 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 96.00 363.75 38.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.00 363.75 76.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 363.75 145.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 363.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 363.75 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 363.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 363.75 76.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 313.75 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 96.00 313.75 38.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.00 313.75 76.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 313.75 145.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 313.75 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 313.75 55.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 313.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 313.75 76.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 263.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 96.00 263.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.00 263.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 263.75 145.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 263.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 263.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 263.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 263.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 233.75 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 96.00 233.75 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 134.00 233.75 76.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 210.00 233.75 145.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 355.00 233.75 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 233.75 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 233.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 504.00 233.75 76.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 427.75 m 96 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 96 427.75 m 134 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134 427.75 m 210 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 427.75 m 355 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 427.75 m 401 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 427.75 m 456 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 427.75 m 504 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 427.75 m 580 427.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 413.75 m 96 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 96 413.75 m 134 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134 413.75 m 210 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 413.75 m 355 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 413.75 m 401 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 413.75 m 456 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 413.75 m 504 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 413.75 m 580 413.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 363.75 m 96 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 96 363.75 m 134 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134 363.75 m 210 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 363.75 m 355 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 363.75 m 401 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 363.75 m 456 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 363.75 m 504 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 363.75 m 580 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 363.75 m 96 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 338.75 m 96 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 96 363.75 m 134 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 96 338.75 m 134 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134 363.75 m 210 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134 338.75 m 210 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 363.75 m 355 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 338.75 m 355 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 363.75 m 401 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 338.75 m 401 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 363.75 m 456 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 338.75 m 456 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 363.75 m 504 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 338.75 m 504 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 363.75 m 580 363.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 338.75 m 580 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 313.75 m 96 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 96 313.75 m 134 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134 313.75 m 210 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 313.75 m 355 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 313.75 m 401 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 313.75 m 456 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 313.75 m 504 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 313.75 m 580 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 288.75 m 96 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 96 288.75 m 134 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134 288.75 m 210 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 288.75 m 355 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 288.75 m 401 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 288.75 m 456 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 288.75 m 504 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 288.75 m 580 288.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 218.75 m 96 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 96 218.75 m 134 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 134 218.75 m 210 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 210 218.75 m 355 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 218.75 m 401 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 218.75 m 456 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 218.75 m 504 218.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 504 218.75 m 580 218.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 290.20 432.15 Td (As of December31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 33.50 418.20 Td (Securities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.85 418.20 Td (Unobservable Inputs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 51.00 404.20 Td (Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 36.70 395.20 Td (accounted for) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 33.95 386.20 Td (at fair value on) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 41.20 377.20 Td (a recurring) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 53.45 368.20 Td (basis) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 106.30 377.20 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.65 368.20 Td (V) Tj ET Q q 0 0 0 rg BT 109.32 368.20 Td (alue) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 146.30 386.20 Td (Pr) Tj ET Q q 0 0 0 rg BT 155.63 386.20 Td (edominant) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 152.90 377.20 Td (V) Tj ET Q q 0 0 0 rg BT 158.57 377.20 Td (aluation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 156.50 368.20 Td (Method) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 221.70 368.20 Td (SignificantUnobservableInput) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 358.20 368.20 Td (Minimum) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 408.00 368.20 Td (Maximum) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.20 386.20 Td (Weighted) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.80 377.20 Td (Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 474.25 368.20 Td ([1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.85 386.20 Td (Impact of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 508.55 377.20 Td (Incr) Tj ET Q q 0 0 0 rg BT 524.88 377.20 Td (easeinInput) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.20 368.20 Td (on Fair) Tj ET Q q 0 0 0 rg BT 537.29 368.20 Td ( ) Tj ET Q q 0 0 0 rg BT 539.37 368.20 Td (V) Tj ET Q q 0 0 0 rg BT 545.05 368.20 Td (alue [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 354.32 Td (CMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 98.50 354.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.15 354.32 Td (859) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.70 354.32 Td (Discounted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 150.25 344.32 Td (cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.95 354.32 Td (Spread\(encompassesprepayment,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.10 344.32 Td (default risk and loss severity\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.80 354.32 Td (320 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.55 354.32 Td (3,615 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.05 354.32 Td (1,031 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.15 354.32 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 329.32 Td (Corporate [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 107.60 329.32 Td (1,371) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.70 329.32 Td (Discounted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 150.25 319.32 Td (cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.10 329.32 Td (Spread) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.80 329.32 Td (106 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.30 329.32 Td (900 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.80 329.32 Td (328 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.15 329.32 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 304.32 Td (Municipal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.15 304.32 Td (227) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.70 304.32 Td (Discounted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 150.25 294.32 Td (cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.10 304.32 Td (Spread) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.80 304.32 Td (227 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.30 304.32 Td (344 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.80 304.32 Td (258 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.15 304.32 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 279.32 Td (RMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 107.60 279.32 Td (1,373) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.70 279.32 Td (Discounted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 150.25 269.32 Td (cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.10 279.32 Td (Spread) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.30 279.32 Td (54 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.55 279.32 Td (1,689 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.80 279.32 Td (367 bps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.15 279.32 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.60 254.32 Td (Constant prepayment rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.30 254.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.05 254.32 Td (12.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.05 254.32 Td (2.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.10 254.32 Td (Decrease [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.30 239.32 Td (Constant default rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.05 239.32 Td (1.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.05 239.32 Td (24.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.05 239.32 Td (8.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.15 239.32 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.45 224.32 Td (Loss severity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.30 224.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.55 224.32 Td (100.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.55 224.32 Td (80.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.15 224.32 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.80 Tf ET q 0 0 0 rg BT 31.50 207.25 Td ([1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 44.03 207.25 Td ( ) Tj ET Q BT /F4 9.80 Tf ET q 0 0 0 rg BT 49.50 207.25 Td (The weig) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.16 207.25 Td (hted average is determined based on the fair value of the securities.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 195.25 Td ([2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.00 195.25 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 195.25 Td (Conversely) Tj ET Q q 0 0 0 rg BT 89.49 195.25 Td (, the impact of a decr) Tj ET Q q 0 0 0 rg BT 165.64 195.25 Td (ease in input would have the opposite impact to the fair value as that pr) Tj ET Q q 0 0 0 rg BT 423.77 195.25 Td (esented in the table above.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 183.25 Td ([3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.00 183.25 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 183.25 Td (Level 3 corporate and municipal securities excludes those for which the Company bases fair value on br) Tj ET Q q 0 0 0 rg BT 425.61 183.25 Td (oker quotations as discussed below) Tj ET Q q 0 0 0 rg BT 551.93 183.25 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 171.25 Td ([4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.00 171.25 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 171.25 Td (Decr) Tj ET Q q 0 0 0 rg BT 67.16 171.25 Td (ease for above market rate coupons and incr) Tj ET Q q 0 0 0 rg BT 228.04 171.25 Td (ease for below market rate coupons.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 31.50 149.65 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 343 0 obj <> endobj 344 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-35) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 660.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 660.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 660.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 660.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 660.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 660.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 660.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 620.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 620.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 620.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 620.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 620.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 620.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 620.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 590.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 590.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 590.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 590.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 590.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 590.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 590.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 550.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 550.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 550.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 550.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 550.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 550.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 550.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 520.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 520.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 520.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 520.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 520.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 520.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 520.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 490.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 490.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 490.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 490.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 490.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 490.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 490.50 74.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 706.5 m 180 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 706.5 m 217 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 706.5 m 291 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 706.5 m 413 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 706.5 m 459 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 706.5 m 506 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 706.5 m 580 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 692.5 m 180 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 692.5 m 217 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 692.5 m 291 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 692.5 m 413 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 692.5 m 459 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 692.5 m 506 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 692.5 m 580 692.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 660.5 m 180 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 660.5 m 217 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 660.5 m 291 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 660.5 m 413 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 660.5 m 459 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 660.5 m 506 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 660.5 m 580 660.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 605.5 m 180 605.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 605.5 m 217 605.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 605.5 m 291 605.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 605.5 m 413 605.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 605.5 m 459 605.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 605.5 m 506 605.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 605.5 m 580 605.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 550.5 m 180 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 550.5 m 217 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 550.5 m 291 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 550.5 m 413 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 550.5 m 459 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 550.5 m 506 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 550.5 m 580 550.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 520.5 m 180 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 520.5 m 217 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 520.5 m 291 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 520.5 m 413 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 520.5 m 459 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 520.5 m 506 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 520.5 m 580 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 520.5 m 180 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 520.5 m 217 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 520.5 m 291 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 520.5 m 413 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 520.5 m 459 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 520.5 m 506 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 520.5 m 580 520.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 460.5 m 180 460.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 460.5 m 217 460.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 460.5 m 291 460.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 460.5 m 413 460.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 460.5 m 459 460.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 460.5 m 506 460.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 460.5 m 580 460.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 332.20 710.90 Td (As of December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 33.50 696.95 Td (Freestanding Derivatives) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 418.85 696.95 Td (Unobservable Inputs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 33.50 664.96 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 189.80 673.95 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 187.15 664.95 Td (V) Tj ET Q q 0 0 0 rg BT 192.82 664.95 Td (alue) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 228.30 682.95 Td (Pr) Tj ET Q q 0 0 0 rg BT 237.63 682.95 Td (edominant ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 234.90 673.95 Td (V) Tj ET Q q 0 0 0 rg BT 240.57 673.95 Td (aluation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 238.50 664.95 Td (Method) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 330.70 673.95 Td (Significant) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.10 664.95 Td (UnobservableInput) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.50 664.95 Td (Minimum) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.50 664.95 Td (Maximum) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 523.85 682.95 Td (Impact of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.55 673.95 Td (Incr) Tj ET Q q 0 0 0 rg BT 525.88 673.95 Td (easeinInput) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.20 664.95 Td (on Fair) Tj ET Q q 0 0 0 rg BT 538.29 664.95 Td ( ) Tj ET Q q 0 0 0 rg BT 540.37 664.95 Td (V) Tj ET Q q 0 0 0 rg BT 546.05 664.95 Td (alue [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 651.07 Td (Interest rate derivative) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 625.17 Td (Interest rate swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.80 625.17 Td (\(24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.15 625.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.70 635.17 Td (Discounted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.25 625.17 Td (cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.00 625.17 Td (Swapcurvebeyond30years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.15 625.17 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 625.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 625.17 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 625.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 625.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 610.17 Td (Long interest rate swaptions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.15 610.17 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.85 610.17 Td (Option model) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.45 610.17 Td (Interest rate volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.15 610.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 610.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 610.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 610.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 610.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 596.07 Td (U.S. GMWB hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 580.17 Td (Equity options) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.15 580.17 Td (72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.85 580.17 Td (Option model) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.85 580.17 Td (Equity volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 580.17 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 580.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 580.17 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 580.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 580.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 555.17 Td (Customized swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.15 555.17 Td (74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.70 565.17 Td (Discounted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.25 555.17 Td (cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.85 555.17 Td (Equity volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 555.17 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 555.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 555.17 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 555.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 555.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 541.07 Td (U.S. macro hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 525.17 Td (Equity options) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.15 525.17 Td (139) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.85 525.17 Td (Option model) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.85 525.17 Td (Equity volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 525.17 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 525.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 525.17 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 525.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 525.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 511.07 Td (International program hedging [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 496.07 Td (Equity options) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.80 495.17 Td (\(35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.15 495.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.85 495.17 Td (Option model) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.85 495.17 Td (Equity volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 495.17 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 495.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 495.17 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 495.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 495.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 481.07 Td (Short interest rate swaptions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.80 480.17 Td (\(13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.15 480.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.85 480.17 Td (Option model) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.45 480.17 Td (Interest rate volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 480.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 480.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 480.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 480.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 480.17 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 465.17 Td (Long interest rate swaptions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.15 465.17 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.85 465.17 Td (Option model) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.45 465.17 Td (Interest rate volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.15 465.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 465.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 465.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 465.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 465.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 385.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 385.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 385.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 385.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 385.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 385.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 385.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 355.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 355.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 355.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 355.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 355.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 355.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 355.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 315.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 315.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 315.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 315.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 315.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 315.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 315.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 285.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 285.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 285.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 285.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 285.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 285.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 285.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 245.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 245.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 245.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 245.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 245.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 245.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 245.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 215.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 215.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 215.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 215.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 215.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 215.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 215.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 185.50 149.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 180.00 185.50 37.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 217.00 185.50 74.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 291.00 185.50 122.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 185.50 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 459.00 185.50 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 185.50 74.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 431.5 m 180 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 431.5 m 217 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 431.5 m 291 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 431.5 m 413 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 431.5 m 580 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 417.5 m 180 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 431.5 m 217 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 417.5 m 217 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 431.5 m 291 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 417.5 m 291 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 431.5 m 413 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 417.5 m 413 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 431.5 m 459 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 417.5 m 459 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 431.5 m 506 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 417.5 m 506 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 431.5 m 580 431.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 417.5 m 580 417.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 385.5 m 180 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 385.5 m 217 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 385.5 m 291 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 385.5 m 413 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 385.5 m 459 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 385.5 m 506 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 385.5 m 580 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 385.5 m 180 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 385.5 m 217 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 385.5 m 291 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 385.5 m 413 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 385.5 m 459 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 385.5 m 506 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 385.5 m 580 385.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 355.5 m 180 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 355.5 m 217 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 355.5 m 291 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 355.5 m 413 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 355.5 m 459 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 355.5 m 506 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 355.5 m 580 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 300.5 m 180 300.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 300.5 m 217 300.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 300.5 m 291 300.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 300.5 m 413 300.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 300.5 m 459 300.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 300.5 m 506 300.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 300.5 m 580 300.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 245.5 m 180 245.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 245.5 m 217 245.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 245.5 m 291 245.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 245.5 m 413 245.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 245.5 m 459 245.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 245.5 m 506 245.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 245.5 m 580 245.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 215.5 m 180 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 215.5 m 217 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 215.5 m 291 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 215.5 m 413 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 215.5 m 459 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 215.5 m 506 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 215.5 m 580 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 215.5 m 180 215.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 170.5 m 180 170.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 180 170.5 m 217 170.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 217 170.5 m 291 170.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 170.5 m 413 170.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 170.5 m 459 170.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 170.5 m 506 170.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 170.5 m 580 170.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 332.20 435.90 Td (As of December 31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 33.50 421.95 Td (Freestanding Derivatives) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 418.85 421.95 Td (Unobservable Inputs) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 33.50 389.96 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 189.80 398.95 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 187.15 389.95 Td (V) Tj ET Q q 0 0 0 rg BT 192.82 389.95 Td (alue) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 228.30 407.95 Td (Pr) Tj ET Q q 0 0 0 rg BT 237.63 407.95 Td (edominant ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 234.90 398.95 Td (V) Tj ET Q q 0 0 0 rg BT 240.57 398.95 Td (aluation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 238.50 389.95 Td (Method) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 330.70 398.95 Td (Significant) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.10 389.95 Td (UnobservableInput) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.50 389.95 Td (Minimum) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.50 389.95 Td (Maximum) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 523.85 407.95 Td (Impact of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 509.55 398.95 Td (Incr) Tj ET Q q 0 0 0 rg BT 525.88 398.95 Td (easeinInput) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.20 389.95 Td (on Fair) Tj ET Q q 0 0 0 rg BT 538.29 389.95 Td ( ) Tj ET Q q 0 0 0 rg BT 540.37 389.95 Td (V) Tj ET Q q 0 0 0 rg BT 546.05 389.95 Td (alue [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 376.07 Td (Equity derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 361.07 Td (Equity options) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.50 360.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.15 360.17 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.85 360.17 Td (Option model) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.85 360.17 Td (Equity volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 360.17 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 360.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 360.17 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 360.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 360.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 346.07 Td (Interest rate derivative) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 320.17 Td (Interest rate swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.80 320.17 Td (\(55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.15 320.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.70 330.17 Td (Discounted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.25 320.17 Td (cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.00 320.17 Td (Swapcurvebeyond30years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.65 320.17 Td (2.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 320.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 320.17 Td (2.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 320.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 320.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 305.17 Td (Long interest rate swaptions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.15 305.17 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.85 305.17 Td (Option model) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.45 305.17 Td (Interest rate volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 305.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 305.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 305.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 305.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 305.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 291.07 Td (U.S. GMWB hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 275.17 Td (Equity options) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.15 275.17 Td (281) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.85 275.17 Td (Option model) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.85 275.17 Td (Equity volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 275.17 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 275.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 275.17 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 275.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 275.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 250.17 Td (Customized swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.15 250.17 Td (238) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.70 260.17 Td (Discounted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.25 250.17 Td (cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.85 250.17 Td (Equity volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 250.17 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 250.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 250.17 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 250.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 250.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 236.07 Td (U.S. macro hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 221.07 Td (Equity options) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.15 220.17 Td (286) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.85 220.17 Td (Option model) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.85 220.17 Td (Equity volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 220.17 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 220.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 220.17 Td (43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 220.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 220.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 206.07 Td (International program hedging) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 191.07 Td (Equity options) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.15 190.17 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.85 190.17 Td (Option model) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.85 190.17 Td (Equity volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 190.17 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 190.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 190.17 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 190.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 190.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 176.07 Td (Long interest rate swaptions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.15 175.17 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.85 175.17 Td (Option model) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.45 175.17 Td (Interest rate volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.15 175.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.15 175.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 175.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 175.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.80 175.17 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 154.20 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 154.20 Td (Conversely) Tj ET Q q 0 0 0 rg BT 89.49 154.20 Td (, the impact of a decr) Tj ET Q q 0 0 0 rg BT 165.64 154.20 Td (ease in input would have the opposite impact to the fair value as that pr) Tj ET Q q 0 0 0 rg BT 423.77 154.20 Td (esented in the table. Changes ar) Tj ET Q q 0 0 0 rg BT 539.42 154.20 Td (e based on ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 143.45 Td (long positions, unless otherwise noted. Changes in fair value will be inversely impacted for short positions.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 132.65 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 132.65 Td (Level 3 international pr) Tj ET Q q 0 0 0 rg BT 134.91 132.65 Td (ogram hedging instruments excludes those for which the Company bases fair value on br) Tj ET Q q 0 0 0 rg BT 455.29 132.65 Td (oker quotations.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 345 0 obj <> endobj 346 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Securities and derivatives for which the Company bases fair value on broker quotations predominately include ) Tj ET Q q 0 0 0 rg BT 475.54 713.10 Td (ABS, CDOs, corporate, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (fixed maturities, FVO and certain credit derivatives. Due to the lack of transparency in the process brokers use to develop prices for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (these investments, the Company does not have access to the significant unobservable inputs brokers use to price these securities and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (derivatives. ) Tj ET Q q 0 0 0 rg BT 80.19 677.10 Td (The Company believes however) Tj ET Q q 0 0 0 rg BT 208.92 677.10 Td (, the types of inputs brokers may use would likely be similar to those used to price securities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (and derivatives for which inputs are available to the Company) Tj ET Q q 0 0 0 rg BT 279.39 665.10 Td (, and therefore may include, but not be limited to, loss severity rates, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (constant prepayment rates, constant default rates and credit spreads. ) Tj ET Q q 0 0 0 rg BT 305.38 653.10 Td (Therefore, similar to non broker priced securities and derivatives, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (generally) Tj ET Q q 0 0 0 rg BT 68.05 641.10 Td (, increases in these inputs would cause fair values to decrease. For the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.99 641.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.57 641.10 Td (, no significant ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (adjustments were made by the Company to broker prices received.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (As of December 31, 2013 and 2012, excluded from the tables above are limited partnerships and other alternative investments which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (total ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.77 599.10 Td ($108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.77 599.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 91.21 599.10 Td ($314) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 111.21 599.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 163.87 599.10 Td (, of Level 3 assets measured at fair value. ) Tj ET Q q 0 0 0 rg BT 334.18 599.10 Td (The predominant valuation method uses a NA) Tj ET Q q 0 0 0 rg BT 517.29 599.10 Td (V) Tj ET Q q 0 0 0 rg BT 524.33 599.10 Td ( calculated on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (a monthly basis and represents funds where the Company does not have the ability to redeem the investment in the near) Tj ET Q q 0 0 0 rg BT 510.06 587.10 Td (-term at that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (NA) Tj ET Q q 0 0 0 rg BT 44.65 575.10 Td (V) Tj ET Q q 0 0 0 rg BT 50.59 575.10 Td (, including an assessment of the investee's liquidity) Tj ET Q q 0 0 0 rg BT 254.48 575.10 Td (. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (Product Derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (The Company formerly of) Tj ET Q q 0 0 0 rg BT 136.57 539.10 Td (fered certain variable annuity products with GMWB riders in the U.S., and Japan.The GMWB provides the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (policyholder with a guaranteed remaining balance \(GRB\) which is generally equal to premiums less withdrawals. If the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.10 Td (policyholder) Tj ET Q q 0 0 0 rg BT 82.41 515.10 Td () Tj ET Q q 0 0 0 rg BT 85.19 515.10 Td (s account value is reduced to the specified level through a combination of market declines and withdrawals but the GRB ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.10 Td (still has value, the Company is obligated to continue to make annuity payments to the policyholder until the GRB is exhausted. Certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.10 Td (contract provisions can increase the GRB at contractholder election or after the passage of time. ) Tj ET Q q 0 0 0 rg BT 419.78 491.10 Td (The GMWB represents an embedded ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.10 Td (derivative in the variable annuity contract. ) Tj ET Q q 0 0 0 rg BT 205.69 479.10 Td (When it is determined that \(1\)the embedded derivative possesses economic characteristics ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.10 Td (that are not clearly and closely related to the economic characteristics of the host contract, and \(2\)a separate instrument with the same ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.10 Td (terms would qualify as a derivative instrument, the embedded derivative is bifurcated from the host for measurement purposes. ) Tj ET Q q 0 0 0 rg BT 541.72 455.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.10 Td (embedded derivative is carried at fair value, with changes in fair value reported in net realized capital gains and losses. ) Tj ET Q q 0 0 0 rg BT 508.90 443.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 568.61 443.10 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.10 Td (GMWB liability is reported in other policyholder funds and benefits payable in the Consolidated Balance Sheets. ) Tj ET Q q 0 0 0 rg BT 488.99 431.10 Td (The notional value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.10 Td (the embedded derivative is the GRB.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (In valuing the embedded derivative, the Company attributes to the derivative a portion of the expected fees to be collected over the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.10 Td (expected life of the contract from the contract holder equal to the present value of future GMWB claims \(the Attributed Fees\). ) Tj ET Q q 0 0 0 rg BT 547.23 389.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.10 Td (excess of fees collected from the contract holder in the current period over the current period) Tj ET Q q 0 0 0 rg BT 405.50 377.10 Td (s ) Tj ET Q q 0 0 0 rg BT 411.34 377.10 Td (Attributed Fees are associated with the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.10 Td (host variable annuity contract and reported in fee income.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 347.10 Td (U.S. GMWB Reinsurance Derivative) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (The Company has reinsurance arrangements in place to transfer a portion of its risk of loss due to GMWB. ) Tj ET Q q 0 0 0 rg BT 460.65 329.10 Td (These arrangements are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.10 Td (recognized as derivatives and carried at fair value in reinsurance recoverables. Changes in the fair value of the reinsurance agreements ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.10 Td (are reported in net realized capital gains and losses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.10 Td (The fair value of the U.S. GMWB reinsurance derivative is calculated as an aggregation of the components described in the Living ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (Benefits Required to be Fair ) Tj ET Q q 0 0 0 rg BT 147.13 275.10 Td (V) Tj ET Q q 0 0 0 rg BT 153.24 275.10 Td (alued discussion below and is modeled using significant unobservable policyholder behavior inputs, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.10 Td (identical to those used in calculating the underlying liability) Tj ET Q q 0 0 0 rg BT 270.79 263.10 Td (, such as lapses, fund selection, resets and withdrawal utilization and risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.10 Td (mar) Tj ET Q q 0 0 0 rg BT 46.87 251.10 Td (gins.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 347 0 obj <> endobj 348 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-37) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Separate ) Tj ET Q q 0 0 0 rg BT 69.74 713.25 Td (Account ) Tj ET Q q 0 0 0 rg BT 106.31 713.25 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Separate account assets are primarily invested in mutual funds. Other separate account assets include fixed maturities, limited ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (partnerships, equity securities, short-term investments and derivatives that are valued in the same manner) Tj ET Q q 0 0 0 rg BT 452.36 683.25 Td (, and using the same pricing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (sources and inputs, as those investments held by the Company) Tj ET Q q 0 0 0 rg BT 280.26 671.25 Td (. Separate account assets classified as Level 3 primarily include limited ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (partnerships in which fair value represents the separate account's share of the fair value of the equity in the investment \("net asset value"\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (and are classified in level 3 based on the Company's ability to redeem its investments.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (Living Benefits Required to be Fair V) Tj ET Q q 0 0 0 rg BT 185.95 629.25 Td (alued \(in Other Policyholder Funds and Benefits Payable\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (Living benefits required to be fair valued include U.S. GMWB, international GMWB and international other guaranteed living benefits.) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 599.95 Td (Fair values for GMWB and guaranteed minimum accumulation benefit \(GMAB\) contracts are calculated using the income approach based ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 588.70 Td (upon internally developed models because active, observable markets do not exist for those items. ) Tj ET Q q 0 0 0 rg BT 402.54 588.70 Td (The fair value of the Company) Tj ET Q q 0 0 0 rg BT 520.79 588.70 Td (s guaranteed ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 577.40 Td (benefit liabilities, classified as embedded derivatives, and the related reinsurance and customized freestanding derivatives are calculated as an ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 566.15 Td (aggregation of the following components: Best Estimate Claim Payments; Credit Standing ) Tj ET Q q 0 0 0 rg BT 373.78 566.15 Td (Adjustment; and Mar) Tj ET Q q 0 0 0 rg BT 454.02 566.15 Td (gins. ) Tj ET Q q 0 0 0 rg BT 474.22 566.15 Td (The resulting aggregation is ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 554.85 Td (reconciled or calibrated, if necessary) Tj ET Q q 0 0 0 rg BT 168.95 554.85 Td (, to market information that is, or may be, available to the Company) Tj ET Q q 0 0 0 rg BT 423.91 554.85 Td (, but may not be observable by other ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 543.55 Td (market participants, including reinsurance discussions and transactions. ) Tj ET Q q 0 0 0 rg BT 302.56 543.55 Td (The Company believes the aggregation of these components, as ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 532.30 Td (necessary and as reconciled or calibrated to the market information available to the Company) Tj ET Q q 0 0 0 rg BT 381.96 532.30 Td (, results in an amount that the Company would be ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 521.00 Td (required to transfer or receive, for an asset, to or from market participants in an active liquid market, if one existed, for those market participants ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 509.75 Td (to assume the risks associated with the guaranteed minimum benefits and the related reinsurance and customized derivatives. ) Tj ET Q q 0 0 0 rg BT 503.81 509.75 Td (The fair value is ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 498.45 Td (likely to materially diver) Tj ET Q q 0 0 0 rg BT 124.52 498.45 Td (ge from the ultimate settlement of the liability as the Company believes settlement will be based on our best estimate ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 487.15 Td (assumptions rather than those best estimate assumptions plus risk mar) Tj ET Q q 0 0 0 rg BT 294.24 487.15 Td (gins. In the absence of any transfer of the guaranteed benefit liability to a ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 475.90 Td (third party) Tj ET Q q 0 0 0 rg BT 70.31 475.90 Td (, the release of risk mar) Tj ET Q q 0 0 0 rg BT 158.36 475.90 Td (gins is likely to be reflected as realized gains in future periods) Tj ET Q q 0 0 0 rg BT 393.90 475.90 Td ( net income. Each component described below is ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 464.60 Td (unobservable in the marketplace and require subjectivity by the Company in determining their value.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 446.60 Td (Oversight of the Company's valuation policies and processes for product and U.S. GMWB reinsurance derivatives is performed by a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 434.60 Td (multidisciplinary group comprised of finance, actuarial and risk management professionals. ) Tj ET Q q 0 0 0 rg BT 400.10 434.60 Td (This multidisciplinary group reviews and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 422.60 Td (approves changes and enhancements to the Company's valuation model as well as associated controls.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 404.60 Td (Best Estimate) Tj ET Q BT /F4 9.40 Tf ET q 0 0 0 rg BT 31.50 387.35 Td (Claim Payments) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 370.05 Td (The Best Estimate Claim Payments is calculated based on actuarial and capital market assumptions related to projected cash flows, including the ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 358.75 Td (present value of benefits and related contract char) Tj ET Q q 0 0 0 rg BT 218.46 358.75 Td (ges, over the lives of the contracts, incorporating expectations concerning policyholder ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 347.50 Td (behavior such as lapses, fund selection, resets and withdrawal utilization. For the customized derivatives, policyholder behavior is prescribed in ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 336.20 Td (the derivative contract. Because of the dynamic and complex nature of these cash flows, best estimate assumptions and a Monte Carlo stochastic ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 324.95 Td (process is used in valuation. ) Tj ET Q q 0 0 0 rg BT 139.42 324.95 Td (The Monte Carlo stochastic process involves the generation of thousands of scenarios that assume risk neutral ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 313.65 Td (returns consistent with swap rates and a blend of observable implied index volatility levels. Estimating these cash flows involves numerous ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 302.35 Td (estimates and subjective judgments regarding a number of variables including expected market rates of return, market volatility) Tj ET Q q 0 0 0 rg BT 519.81 302.35 Td (, correlations of ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 291.10 Td (market index returns to funds, fund performance, discount rates and assumptions about policyholder behavior which emer) Tj ET Q q 0 0 0 rg BT 489.99 291.10 Td (ge over time.) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 273.80 Td (At each valuation date, the Company assumes expected returns based on:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.85 255.80 Td ( ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 56.85 255.80 Td (risk-free rates as represented by the euro dollar futures, LIBOR deposits and swap rates to derive forward curve rates;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.85 237.80 Td ( ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 56.85 237.80 Td (market implied volatility assumptions for each underlying index based primarily on a blend of observed market implied volatility data;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.85 219.80 Td ( ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 56.85 219.80 Td (correlations of historical returns across underlying well known market indices based on actual observed returns over the ten years ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 56.85 208.55 Td (preceding the valuation date; and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 29.85 190.55 Td ( ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 56.85 190.55 Td (three years of history for fund indexes compared to separate account fund regression.) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (On a daily basis, the Company updates capital market assumptions used in the GMWB liability model such as interest rates, equity indices and ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 161.95 Td (the blend of implied equity index volatilities. ) Tj ET Q q 0 0 0 rg BT 203.12 161.95 Td (The Company monitors various aspects of policyholder behavior and may modify certain of its ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 149.95 Td (assumptions, including living benefit lapses and withdrawal rates, if credible emer) Tj ET Q q 0 0 0 rg BT 340.94 149.95 Td (ging data indicates that changes are warranted. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.94 149.95 Td (In addition, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.95 Td (Company will continue to evaluate policyholder behavior assumptions as we begin to implement initiatives to reduce the size of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.95 Td (variable annuity business. ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 137.59 125.95 Td (At a minimum, all policyholder behavior assumptions are reviewed and updated, as appropriate, in conjunction with ) Tj ET Q BT /F2 9.40 Tf ET q 0 0 0 rg BT 31.50 114.70 Td (the completion of the Company) Tj ET Q q 0 0 0 rg BT 153.16 114.70 Td (s comprehensive study to refine its estimate of future gross profits during the third quarter of each year) Tj ET Q q 0 0 0 rg BT 539.24 114.70 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 349 0 obj <> endobj 350 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-38) Tj ET Q BT /F4 9.40 Tf ET q 0 0 0 rg BT 31.50 713.50 Td (Cr) Tj ET Q q 0 0 0 rg BT 41.08 713.50 Td (edit Standing ) Tj ET Q q 0 0 0 rg BT 93.13 713.50 Td (Adjustment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.50 Td (This assumption makes an adjustment that market participants would make, in determining fair value, to reflect the risk that guaranteed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.50 Td (benefit obligations or the GMWB reinsurance recoverables will not be fulfilled \(nonperformance risk\). ) Tj ET Q q 0 0 0 rg BT 453.95 683.50 Td (The Company incorporates a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.50 Td (blend of observable Company and reinsurer credit default spreads from capital markets, adjusted for market recoverability) Tj ET Q q 0 0 0 rg BT 520.11 671.50 Td (. ) Tj ET Q q 0 0 0 rg BT 524.93 671.50 Td (The credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.50 Td (standing adjustment assumption, net of reinsurance, resulted in pre-tax realized gains \(losses\) of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.34 659.50 Td ($\(13\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.00 659.50 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.00 659.50 Td ($\(69\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.66 659.50 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.09 659.50 Td ($55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.09 659.50 Td (, for the years ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.50 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.38 647.50 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 138.96 647.50 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 143.96 647.50 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 163.96 647.50 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 183.40 647.50 Td (201) Tj ET Q q 0 0 0 rg BT 198.03 647.50 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.03 647.50 Td (, respectively) Tj ET Q q 0 0 0 rg BT 255.69 647.50 Td (. ) Tj ET Q q 0 0 0 rg BT 260.14 647.50 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.58 647.50 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.17 647.50 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.60 647.50 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.60 647.50 Td ( the credit standing adjustment was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.90 647.50 Td ($\(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.56 647.50 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.50 Td ($12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 635.50 Td (, respectively) Tj ET Q q 0 0 0 rg BT 99.16 635.50 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 617.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 48.35 617.50 Td (gins) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.50 Td (The behavior risk mar) Tj ET Q q 0 0 0 rg BT 119.90 599.50 Td (gin adds a mar) Tj ET Q q 0 0 0 rg BT 178.31 599.50 Td (gin that market participants would require, in determining fair value, for the risk that the Company) Tj ET Q q 0 0 0 rg BT 575.70 599.50 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.50 Td (assumptions about policyholder behavior could dif) Tj ET Q q 0 0 0 rg BT 234.34 587.50 Td (fer from actual experience. ) Tj ET Q q 0 0 0 rg BT 344.37 587.50 Td (The behavior risk mar) Tj ET Q q 0 0 0 rg BT 432.76 587.50 Td (gin is calculated by taking the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.50 Td (dif) Tj ET Q q 0 0 0 rg BT 42.43 575.50 Td (ference between adverse policyholder behavior assumptions and best estimate assumptions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.50 Td (Assumption updates, including policyholder behavior assumptions, af) Tj ET Q q 0 0 0 rg BT 310.72 557.50 Td (fected best estimates and mar) Tj ET Q q 0 0 0 rg BT 428.27 557.50 Td (gins for total pre-tax realized gains of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.50 Td ($75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 545.50 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 545.50 Td ($274) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 545.50 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.94 545.50 Td ($52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 105.94 545.50 Td ( for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.29 545.50 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.88 545.50 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.88 545.50 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.88 545.50 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.31 545.50 Td (201) Tj ET Q q 0 0 0 rg BT 324.94 545.50 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.94 545.50 Td (, respectively) Tj ET Q q 0 0 0 rg BT 382.60 545.50 Td (. ) Tj ET Q q 0 0 0 rg BT 387.05 545.50 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.50 545.50 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.08 545.50 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.52 545.50 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.52 545.50 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.50 Td (behavior risk mar) Tj ET Q q 0 0 0 rg BT 101.85 533.50 Td (gin was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.18 533.50 Td ($108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 155.18 533.50 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.62 533.50 Td ($302) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.62 533.50 Td (, respectively) Tj ET Q q 0 0 0 rg BT 247.28 533.50 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.50 Td (In addition to the non-market-based updates described above, the Company recognized non-market-based updates driven by the relative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.50 Td (outperformance \(underperformance\)of the underlying actively managed funds as compared to their respective indices resulting in pre-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.50 Td (tax realized gains \(losses\)of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 208.11 491.50 Td ($33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.11 491.50 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.11 491.50 Td ($106) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.11 491.50 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.54 491.50 Td ($\(72\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.21 491.50 Td ( for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.56 491.50 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.14 491.50 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.14 491.50 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.14 491.50 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.58 491.50 Td (201) Tj ET Q q 0 0 0 rg BT 508.21 491.50 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.21 491.50 Td (, respectively) Tj ET Q q 0 0 0 rg BT 565.87 491.50 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.50 Td (Significant unobservable inputs used in the fair value measurement of living benefits required to be fair valued and the U.S. GMWB ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.50 Td (reinsurance derivative are withdrawal utilization and withdrawal rates, lapse rates, reset elections and equity volatility) Tj ET Q q 0 0 0 rg BT 502.34 461.50 Td (. ) Tj ET Q q 0 0 0 rg BT 507.16 461.50 Td (The following ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.50 Td (table provides quantitative information about the significant unobservable inputs and is applicable to all of the Living Benefits Required ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.50 Td (to be Fair ) Tj ET Q q 0 0 0 rg BT 72.14 437.50 Td (V) Tj ET Q q 0 0 0 rg BT 78.26 437.50 Td (alued and the U.S. GMWB Reinsurance Derivative. Significant increases in any of the significant unobservable inputs, in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.50 Td (isolation, will generally have an increase or decrease correlation with the fair value measurement, as shown in the table.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 371.00 130.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 162.00 371.00 134.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 371.00 135.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 371.00 150.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 341.00 130.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 162.00 341.00 134.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 296.00 341.00 135.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 341.00 150.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 386 m 162 386 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 386 m 296 386 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 386 m 431 386 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431 386 m 581 386 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 162 386 m 296 386 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 296 386 m 431 386 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431 386 m 581 386 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 311 m 162 311 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 162 311 m 296 311 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 311 m 431 311 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 311 m 581 311 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 390.45 Td (Significant Unobservable Input) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 164.95 390.45 Td (Unobservable Inputs \(Minimum\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 298.70 390.45 Td (Unobservable Inputs \(Maximum\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 452.80 399.45 Td (Impact of Incr) Tj ET Q q 0 0 0 rg BT 508.63 399.45 Td (ease in Input) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 445.65 390.45 Td (on Fair) Tj ET Q q 0 0 0 rg BT 473.74 390.45 Td ( ) Tj ET Q q 0 0 0 rg BT 475.82 390.45 Td (V) Tj ET Q q 0 0 0 rg BT 481.50 390.45 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 529.08 390.45 Td (ement [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 376.57 Td (Withdrawal Utilization[2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.30 375.67 Td (20%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.30 375.67 Td (100%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.80 375.67 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 361.57 Td (Withdrawal Rates [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.30 360.67 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.30 360.67 Td (8%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.80 360.67 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 346.57 Td (Lapse Rates [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.30 345.67 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.80 345.67 Td (75%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 345.67 Td (Decrease) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 331.57 Td (Reset Elections [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.30 330.67 Td (20%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.80 330.67 Td (75%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.80 330.67 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 316.57 Td (Equity Volatility [5]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.30 315.67 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.80 315.67 Td (50%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.80 315.67 Td (Increase) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 294.70 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 294.70 Td (Conversely) Tj ET Q q 0 0 0 rg BT 93.99 294.70 Td (, the impact of a decr) Tj ET Q q 0 0 0 rg BT 170.14 294.70 Td (ease in input would have the opposite impact to the fair value as that pr) Tj ET Q q 0 0 0 rg BT 428.27 294.70 Td (esented in the table.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 283.90 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 283.90 Td (Ranges r) Tj ET Q q 0 0 0 rg BT 85.91 283.90 Td (epr) Tj ET Q q 0 0 0 rg BT 97.58 283.90 Td (esent assumed cumulative per) Tj ET Q q 0 0 0 rg BT 204.97 283.90 Td (centages of policyholders taking withdrawals and the annual amounts withdrawn.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 273.10 Td ([3] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 273.10 Td (Range r) Tj ET Q q 0 0 0 rg BT 82.41 273.10 Td (epr) Tj ET Q q 0 0 0 rg BT 94.07 273.10 Td (esents assumed annual per) Tj ET Q q 0 0 0 rg BT 190.48 273.10 Td (centages of full surr) Tj ET Q q 0 0 0 rg BT 262.39 273.10 Td (ender of the underlying variable annuity contracts acr) Tj ET Q q 0 0 0 rg BT 457.77 273.10 Td (oss all policy durations for in ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 262.30 Td (for) Tj ET Q q 0 0 0 rg BT 64.17 262.30 Td (ce business.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 251.50 Td ([4] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 251.50 Td (Range r) Tj ET Q q 0 0 0 rg BT 82.41 251.50 Td (epr) Tj ET Q q 0 0 0 rg BT 94.07 251.50 Td (esents assumed cumulative per) Tj ET Q q 0 0 0 rg BT 204.97 251.50 Td (centages of policyholders that would elect to r) Tj ET Q q 0 0 0 rg BT 371.35 251.50 Td (eset their guaranteed benefit base.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 240.70 Td ([5] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 240.70 Td (Range r) Tj ET Q q 0 0 0 rg BT 82.41 240.70 Td (epr) Tj ET Q q 0 0 0 rg BT 94.07 240.70 Td (esents implied market volatilities for equity indices based on multiple pricing sour) Tj ET Q q 0 0 0 rg BT 389.95 240.70 Td (ces.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 222.70 Td (Generally a change in withdrawal utilization assumptions would be accompanied by a directionally opposite change in lapse rate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 210.70 Td (assumptions, as the behavior of policyholders that utilize GMWB or GMAB riders is typically dif) Tj ET Q q 0 0 0 rg BT 422.64 210.70 Td (ferent from policyholders that do not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 198.70 Td (utilize these riders.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 351 0 obj <> endobj 352 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-39) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Assets and Liabilities Measured at Fair V) Tj ET Q q 0 0 0 rg BT 201.52 713.25 Td (alue on a Recurring Basis Using Significant Unobservable Inputs \(Level 3\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The tables below provide fair value roll-forwards for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.00 695.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.58 695.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.02 695.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.02 695.25 Td (, for the financial instruments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (classified as Level 3.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (For) Tj ET Q q 0 0 0 rg BT 46.87 665.25 Td ( the year) Tj ET Q q 0 0 0 rg BT 83.89 665.25 Td ( ended ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 114.45 665.25 Td (December) Tj ET Q q 0 0 0 rg BT 157.58 665.25 Td (31, 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 195.08 665.25 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 593.75 169.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 593.75 35.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.00 593.75 35.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 593.75 35.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 593.75 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 593.75 44.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 593.75 48.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 593.75 35.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 593.75 52.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 532.00 593.75 49.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 553.75 169.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 553.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.00 553.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 553.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 553.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 553.75 44.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 553.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 553.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 553.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 532.00 553.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 523.75 169.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 523.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.00 523.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 523.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 523.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 523.75 44.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 523.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 523.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 523.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 532.00 523.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 493.75 169.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 493.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.00 493.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 493.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 493.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 493.75 44.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 493.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 493.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 493.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 532.00 493.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 463.75 169.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 463.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.00 463.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 463.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 463.75 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 463.75 44.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 463.75 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 463.75 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 463.75 52.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 532.00 463.75 49.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 424.75 169.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 201.00 424.75 35.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 236.00 424.75 35.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 271.00 424.75 35.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.00 424.75 47.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 424.75 44.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 424.75 48.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 424.75 35.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 424.75 52.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 532.00 424.75 49.00 -45.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 634.75 m 236 634.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 236 634.75 m 271 634.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 271 634.75 m 306 634.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 634.75 m 353 634.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353 634.75 m 397 634.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 634.75 m 445 634.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445 634.75 m 480 634.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480 634.75 m 532 634.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 593.75 m 201 593.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 593.75 m 236 593.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 236 593.75 m 271 593.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 271 593.75 m 306 593.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 593.75 m 353 593.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353 593.75 m 397 593.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 593.75 m 445 593.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445 593.75 m 480 593.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480 593.75 m 532 593.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 532 593.75 m 581 593.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 448.75 m 201 448.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 201 448.75 m 236 448.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 236 448.75 m 271 448.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 271 448.75 m 306 448.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 306 448.75 m 353 448.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353 448.75 m 397 448.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 448.75 m 445 448.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445 448.75 m 480 448.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 480 448.75 m 532 448.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 532 448.75 m 581 448.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 424.75 m 201 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 201 424.75 m 236 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236 424.75 m 271 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 424.75 m 306 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 424.75 m 353 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 424.75 m 397 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 424.75 m 445 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 424.75 m 480 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 424.75 m 532 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 532 424.75 m 581 424.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 379.75 m 201 379.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 201 379.75 m 236 379.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 236 379.75 m 271 379.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 271 379.75 m 306 379.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 379.75 m 353 379.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 379.75 m 397 379.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 379.75 m 445 379.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 379.75 m 480 379.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 379.75 m 532 379.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 532 379.75 m 581 379.75 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 639.21 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.35 639.20 Td (Fixed Maturities, AFS) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 534.50 639.21 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 598.20 Td (Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 209.20 598.20 Td (ABS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 241.20 598.20 Td (CDOs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 274.95 598.20 Td (CMBS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 309.00 598.20 Td (Corporate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 359.55 625.20 Td (For) Tj ET Q q 0 0 0 rg BT 373.38 625.20 Td (eign) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.85 616.20 Td (govt./) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.10 607.20 Td (govt.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 358.50 598.20 Td (agencies) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 400.70 598.20 Td (Municipal) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.95 598.20 Td (RMBS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.65 616.20 Td (T) Tj ET Q q 0 0 0 rg BT 487.83 616.20 Td (otal Fixed) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.10 607.20 Td (Maturities,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 496.95 598.20 Td (AFS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 545.25 616.20 Td (Fixed) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.60 607.20 Td (Maturities,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.55 598.20 Td (FV) Tj ET Q q 0 0 0 rg BT 558.37 598.20 Td (O) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 573.42 Td (Fair value as of January 1, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.50 573.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.10 573.42 Td (278) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.50 573.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.10 573.42 Td (944) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.50 573.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.10 573.42 Td (859) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.50 573.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.65 573.42 Td (2,001) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.50 573.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.15 573.42 Td (56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 573.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.15 573.42 Td (227) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 573.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.60 573.42 Td (1,373) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.50 573.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.65 573.42 Td (5,738) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.50 573.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 573.42 Td (214) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 558.42 Td (Total realized/unrealized gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 543.42 Td (Included in net income [1], [2], [6]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.80 543.42 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.15 543.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.15 543.42 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.80 543.47 Td (\(27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.15 543.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.15 543.42 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.80 543.47 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 543.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.15 543.42 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 543.42 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 543.42 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 543.42 Td (59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 528.42 Td (Included in OCI [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.15 528.42 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.10 528.42 Td (138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.10 528.42 Td (115) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.80 528.47 Td (\(12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.15 528.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.80 528.47 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 528.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 528.47 Td (\(11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 528.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 528.42 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.15 528.42 Td (304) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 528.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 513.42 Td (Purchases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.15 513.42 Td (96) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.15 513.42 Td (92) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.15 513.42 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.15 513.42 Td (180) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.15 513.42 Td (45) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 513.42 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.10 513.42 Td (371) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.15 513.42 Td (855) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 513.42 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 498.42 Td (Settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.80 498.42 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.15 498.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.80 498.42 Td (\(126) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.15 498.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.80 498.47 Td (\(142) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.15 498.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.80 498.47 Td (\(132) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.15 498.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.80 498.47 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 498.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 498.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.80 498.47 Td (\(186) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 498.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.80 498.47 Td (\(598) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 498.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 498.42 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 498.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 483.42 Td (Sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.80 483.42 Td (\(139) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.15 483.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.80 483.42 Td (\(365) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.15 483.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.80 483.47 Td (\(208) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.15 483.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.80 483.47 Td (\(403) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.15 483.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.80 483.47 Td (\(15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 483.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.80 483.47 Td (\(126) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 483.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.80 483.47 Td (\(375) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 483.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.30 483.47 Td (\(1,631) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 483.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 483.42 Td (\(94) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 483.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 468.42 Td (Transfers into Level 3 [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.15 468.42 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.15 468.42 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.15 468.42 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.15 468.42 Td (149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.15 468.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 468.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 468.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.15 468.42 Td (249) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 468.42 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 453.42 Td (Transfers out of Level 3 [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.80 453.42 Td (\(105) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.15 453.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.80 453.42 Td (\(73) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.15 453.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.80 453.47 Td (\(49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.15 453.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.80 453.47 Td (\(514) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.15 453.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.80 453.47 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 453.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 453.47 Td (\(44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 453.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.80 453.47 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 453.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.80 453.47 Td (\(792) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 453.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 453.42 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 453.42 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 429.43 Td (Fair value as of December 31, 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 203.50 429.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 217.10 429.43 Td (147) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 238.50 429.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.10 429.43 Td (664) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 273.50 429.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.10 429.43 Td (663) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.50 429.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 326.65 429.43 Td (1,274) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 355.50 429.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.15 429.43 Td (65) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.50 429.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.15 429.43 Td (69) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.50 429.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 453.60 429.43 Td (1,272) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.50 429.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.65 429.43 Td (4,154) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 534.50 429.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 429.43 Td (193) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 414.42 Td (Changes in unrealized gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 404.42 Td (included in net income related to) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 394.42 Td (financial instruments still held at) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 384.42 Td (December 31, 2013 [2] [7]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.50 384.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.80 384.42 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.15 384.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.50 384.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.15 384.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.50 384.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.80 384.47 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.15 384.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.50 384.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.80 384.47 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.15 384.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.50 384.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.15 384.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 384.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 384.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 384.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.80 384.47 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 384.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.50 384.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.80 384.47 Td (\(27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 384.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.50 384.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 384.42 Td (43) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 31.50 364.65 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 299.15 155.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 299.15 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 299.15 34.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 299.15 34.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 299.15 38.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 299.15 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 299.15 41.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 299.15 41.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 299.15 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 299.15 63.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 249.15 155.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 249.15 47.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 249.15 34.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 249.15 34.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 249.15 38.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 249.15 50.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 249.15 41.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 249.15 41.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 249.15 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 249.15 63.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 209.15 155.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 209.15 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 209.15 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 209.15 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 209.15 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 209.15 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 209.15 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 209.15 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 209.15 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 209.15 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 179.15 155.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 179.15 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 179.15 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 179.15 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 179.15 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 179.15 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 179.15 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 179.15 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 179.15 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 179.15 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 149.15 155.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 149.15 47.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 149.15 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 149.15 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 149.15 38.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 149.15 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 149.15 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 149.15 41.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 149.15 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 149.15 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 110.15 155.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 110.15 47.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 234.00 110.15 34.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 110.15 34.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 302.00 110.15 38.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.00 110.15 50.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 110.15 41.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 110.15 41.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 110.15 46.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 110.15 63.00 -45.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234 340.15 m 268 340.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 268 340.15 m 302 340.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 302 340.15 m 340 340.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340 340.15 m 390 340.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390 340.15 m 431 340.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431 340.15 m 472 340.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 472 340.15 m 518 340.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 340.15 m 581 340.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 299.15 m 187 299.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 187 299.15 m 234 299.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 234 299.15 m 268 299.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 268 299.15 m 302 299.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 302 299.15 m 340 299.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340 299.15 m 390 299.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390 299.15 m 431 299.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431 299.15 m 472 299.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 472 299.15 m 518 299.15 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 299.15 m 581 299.15 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 110.14999999999998 m 187 110.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187 110.14999999999998 m 234 110.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234 110.14999999999998 m 268 110.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268 110.14999999999998 m 302 110.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 110.14999999999998 m 340 110.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 110.14999999999998 m 390 110.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 110.14999999999998 m 431 110.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 110.14999999999998 m 472 110.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 110.14999999999998 m 518 110.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 110.14999999999998 m 581 110.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 65.14999999999998 m 187 65.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187 65.14999999999998 m 234 65.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 234 65.14999999999998 m 268 65.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268 65.14999999999998 m 302 65.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 302 65.14999999999998 m 340 65.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 340 65.14999999999998 m 390 65.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 65.14999999999998 m 431 65.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 65.14999999999998 m 472 65.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 65.14999999999998 m 518 65.14999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 65.14999999999998 m 581 65.14999999999998 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 344.61 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 189.50 344.61 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 352.55 344.60 Td (Freestanding Derivatives [5]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 303.60 Td (Assets \(Liabilities\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 196.95 321.60 Td (Equity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 190.10 312.60 Td (Securities,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 201.45 303.60 Td (AFS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 238.05 303.60 Td (Credit) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 271.45 303.60 Td (Equity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 305.55 312.60 Td (Inter) Tj ET Q q 0 0 0 rg BT 324.88 312.60 Td (est) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.50 303.60 Td (Rate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 356.45 321.60 Td (U.S.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.25 312.60 Td (GMWB) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 348.20 303.60 Td (Hedging) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 401.95 330.60 Td (U.S.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 397.30 321.60 Td (Macr) Tj ET Q q 0 0 0 rg BT 418.12 321.60 Td (o) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 397.75 312.60 Td (Hedge) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.80 303.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 402.13 303.60 Td (ogram) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.85 321.60 Td (Intl.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.80 312.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 443.13 312.60 Td (ogram) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.70 303.60 Td (Hedging) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.05 312.60 Td (Other) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 475.50 303.60 Td (Contracts) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.85 321.60 Td (T) Tj ET Q q 0 0 0 rg BT 533.03 321.60 Td (otal Fr) Tj ET Q q 0 0 0 rg BT 559.10 321.60 Td (ee-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.70 312.60 Td (Standing) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 520.85 303.60 Td (Derivatives[5]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 278.82 Td (Fair value as of January 1, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.50 278.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.15 278.82 Td (84) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.50 278.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 259.15 278.82 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.50 278.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.15 278.82 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.50 278.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.80 278.87 Td (\(32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.15 278.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.50 278.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.15 278.82 Td (519) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.50 278.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.15 278.82 Td (286) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.50 278.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.15 278.82 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.50 278.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 278.82 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.50 278.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 278.82 Td (925) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 263.82 Td (Total realized/unrealized gains) Tj ET Q BT /F2 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ET q 0 0 0 rg BT 505.80 228.87 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 228.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 228.82 Td (\(694) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 228.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 213.82 Td (Included in OCI [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.15 213.82 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.15 213.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.15 213.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.15 213.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.15 213.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 213.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.15 213.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 213.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 213.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 198.82 Td (Purchases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.15 198.82 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.15 198.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.15 198.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.80 198.87 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.15 198.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.15 198.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 198.82 Td (44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.80 198.87 Td (\(38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.15 198.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 198.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 198.82 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 183.82 Td (Settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.15 183.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.80 183.82 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.15 183.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.80 183.87 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.15 183.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.15 183.82 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.80 183.87 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 183.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 183.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.80 183.87 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.15 183.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 183.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 183.82 Td (\(11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 183.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 168.82 Td (Sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.80 168.82 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.15 168.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.15 168.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.15 168.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.15 168.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.15 168.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 168.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.15 168.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 168.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 168.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 153.82 Td (Transfers into Level 3 [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.15 153.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.15 153.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.15 153.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.15 153.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.15 153.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 153.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.80 153.87 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.15 153.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 153.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 153.82 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 153.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 138.82 Td (Transfers out of Level 3 [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.80 138.82 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.15 138.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.15 138.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.80 138.87 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.15 138.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.15 138.82 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.15 138.82 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 138.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.15 138.82 Td (62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 138.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 138.82 Td (81) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 114.83 Td (Fair value as of December 31, 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 189.50 114.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 220.15 114.83 Td (77) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 236.50 114.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 259.15 114.83 Td (2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 270.50 114.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 293.15 114.83 Td (3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 304.50 114.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 326.15 114.83 Td (18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 342.50 114.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 371.15 114.83 Td (146) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 392.50 114.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.15 114.83 Td (139) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.50 114.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.80 114.88 Td (\(29) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.15 114.83 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 474.50 114.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.15 114.83 Td (17) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 520.50 114.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 114.83 Td (296) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 99.82 Td (Changes in unrealized gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 89.82 Td (included in net income related to) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 79.82 Td (financial instruments still held at) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 69.82 Td (December 31, 2013 [2] [7]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.50 69.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.80 69.82 Td (\(15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.15 69.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.50 69.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.80 69.82 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.15 69.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.50 69.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.80 69.87 Td (\(22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.15 69.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.50 69.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.15 69.82 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.50 69.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.80 69.87 Td (\(390) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 69.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.50 69.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.80 69.87 Td (\(187) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.15 69.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.50 69.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.80 69.87 Td (\(382) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.15 69.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.50 69.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.80 69.87 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 69.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.50 69.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 69.82 Td (\(979) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 69.82 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 31.50 48.85 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 353 0 obj <> endobj 354 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-40) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 688.50 271.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 688.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 688.50 95.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 688.50 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 658.50 271.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 658.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 658.50 95.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 658.50 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 628.50 271.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 628.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 628.50 95.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 628.50 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 598.50 271.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 598.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 598.50 95.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 598.50 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 568.50 271.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 568.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 568.50 95.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 568.50 89.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 539.50 271.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 539.50 94.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 539.50 95.00 -35.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 539.50 89.00 -35.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 688.5 m 303 688.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 303 688.5 m 397 688.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 688.5 m 492 688.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 688.5 m 581 688.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 303 688.5 m 397 688.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 553.5 m 303 553.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 303 553.5 m 397 553.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 553.5 m 492 553.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 553.5 m 581 553.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 539.5 m 303 539.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 539.5 m 397 539.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 539.5 m 492 539.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 539.5 m 581 539.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 504.5 m 303 504.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 504.5 m 397 504.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 504.5 m 492 504.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 504.5 m 581 504.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 692.95 Td (Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.35 710.90 Td (Limited Partnerships) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 307.05 701.90 Td (and Other Alternative) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 326.25 692.90 Td (Investments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.00 710.90 Td (Reinsurance) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.25 701.90 Td (Recoverable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 412.80 692.90 Td (for) Tj ET Q q 0 0 0 rg BT 424.13 692.90 Td ( U.S. GMWB) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 500.35 692.95 Td (SeparateAccounts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 678.17 Td (Fair value as of January 1, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 678.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.15 678.17 Td (314) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 678.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.15 678.17 Td (191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.50 678.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 678.17 Td (583) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 663.17 Td (Total realized/unrealized gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 648.17 Td (Included in net income [1], [2], [6]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.80 648.22 Td (\(18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 648.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.80 648.22 Td (\(192) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 648.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 648.17 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 633.17 Td (Included in OCI [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.15 633.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.15 633.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 633.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 618.17 Td (Purchases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.15 618.17 Td (135) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.15 618.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 618.17 Td (250) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 603.17 Td (Settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.15 603.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.15 603.17 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 603.17 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 603.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 588.17 Td (Sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.80 588.22 Td (\(22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 588.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.15 588.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 588.17 Td (\(88) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 588.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 573.17 Td (Transfers into Level 3 [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.15 573.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.15 573.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 573.17 Td (45) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 558.17 Td (Transfers out of Level 3 [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.80 558.22 Td (\(301) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 558.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.15 558.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 558.17 Td (\(74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 558.17 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 544.18 Td (Fair value as of December 31, 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.50 544.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.15 544.18 Td (108) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.50 544.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 478.15 544.18 Td (29) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.50 544.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 544.18 Td (737) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 529.17 Td (Changes in unrealized gains \(losses\) included in net income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 519.17 Td (related to financial instruments still held at December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 509.17 Td ([2] [7]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 509.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.80 509.22 Td (\(18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 509.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 509.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.80 509.22 Td (\(192) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 509.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.50 509.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 509.17 Td (21) Tj ET Q BT /F2 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 31.50 488.20 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 407.70 217.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.00 407.70 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 407.70 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 407.70 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 407.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 407.70 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 535.00 407.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 377.70 217.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.00 377.70 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 377.70 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 377.70 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 377.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 377.70 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 535.00 377.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 347.70 217.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.00 347.70 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 347.70 63.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 347.70 61.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 347.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 347.70 62.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 535.00 347.70 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 318.70 217.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 249.00 318.70 54.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.00 318.70 63.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 366.00 318.70 61.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 318.70 46.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 318.70 62.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 535.00 318.70 46.00 -45.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 249 457.70000000000005 m 303 457.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 303 457.70000000000005 m 366 457.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366 457.70000000000005 m 427 457.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 457.70000000000005 m 473 457.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473 457.70000000000005 m 535 457.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 407.70000000000005 m 249 407.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 249 407.70000000000005 m 303 407.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 303 407.70000000000005 m 366 407.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366 407.70000000000005 m 427 407.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 407.70000000000005 m 473 407.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473 407.70000000000005 m 535 407.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 535 407.70000000000005 m 581 407.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 332.70000000000005 m 249 332.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 249 332.70000000000005 m 303 332.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 303 332.70000000000005 m 366 332.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 366 332.70000000000005 m 427 332.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 332.70000000000005 m 473 332.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473 332.70000000000005 m 535 332.70000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 535 332.70000000000005 m 581 332.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 318.70000000000005 m 249 318.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249 318.70000000000005 m 303 318.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 318.70000000000005 m 366 318.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 318.70000000000005 m 427 318.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 318.70000000000005 m 473 318.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 318.70000000000005 m 535 318.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 535 318.70000000000005 m 581 318.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 273.70000000000005 m 249 273.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 249 273.70000000000005 m 303 273.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303 273.70000000000005 m 366 273.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 273.70000000000005 m 427 273.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 273.70000000000005 m 473 273.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 273.70000000000005 m 535 273.70000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 535 273.70000000000005 m 581 273.70000000000005 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 462.16 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 300.25 462.15 Td (Other Policyholder Funds and Benefits Payable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 537.50 462.16 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 412.15 Td (Liabilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 267.45 439.15 Td (U.S.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 252.50 430.15 Td (Guaranteed) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 252.30 421.15 Td (W) Tj ET Q q 0 0 0 rg BT 261.14 421.15 Td (ithdrawal) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 260.00 412.15 Td (Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.45 439.15 Td (International) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.00 430.15 Td (Guaranteed) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.45 421.15 Td (Living) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 318.50 412.15 Td (Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.45 430.15 Td (International) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.95 421.15 Td (Other) Tj ET Q q 0 0 0 rg BT 393.78 421.15 Td ( Living) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 380.50 412.15 Td (Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 436.45 430.15 Td (Equity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 435.70 421.15 Td (Linked) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.75 412.15 Td (Notes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.10 448.15 Td (T) Tj ET Q q 0 0 0 rg BT 486.28 448.15 Td (otal Other) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.30 439.15 Td (Policyholder) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.10 430.15 Td (Funds and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 488.00 421.15 Td (Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 488.25 412.15 Td (Payable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.55 421.15 Td (Consumer) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.75 412.15 Td (Notes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 397.37 Td (Fair value as of January 1, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.50 397.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.30 397.42 Td (\(1,249) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.15 397.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.50 397.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.80 397.42 Td 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687.20 Td (Fixed Maturities, AFS) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 534.50 687.21 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 646.20 Td (Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 207.20 646.20 Td (ABS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 239.20 646.20 Td (CDOs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 272.95 646.20 Td (CMBS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.00 646.20 Td (Corporate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 358.05 673.20 Td (For) Tj ET Q q 0 0 0 rg BT 371.88 673.20 Td (eign) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 362.35 664.20 Td (govt./) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 363.60 655.20 Td (govt.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 357.00 646.20 Td (agencies) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 398.20 646.20 Td (Municipal) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 447.45 646.20 Td (RMBS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.15 664.20 Td (T) Tj ET Q q 0 0 0 rg BT 487.33 664.20 Td (otal Fixed) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 483.60 655.20 Td (Maturities,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 496.45 646.20 Td (AFS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 545.25 664.20 Td (Fixed) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.60 655.20 Td (Maturities,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.55 646.20 Td (FV) Tj ET Q q 0 0 0 rg BT 558.37 646.20 Td (O) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 621.42 Td (Fair value as of January 1, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.50 621.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 215.10 621.42 Td (361) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.50 621.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.10 621.42 Td (368) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.50 621.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.10 621.42 Td (588) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.50 621.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.65 621.42 Td (2,255) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.50 621.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.15 621.42 Td (49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.50 621.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.15 621.42 Td (437) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.50 621.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.60 621.42 Td (1,063) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.50 621.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.65 621.42 Td (5,121) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.50 621.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 621.42 Td (495) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 606.42 Td (Total realized/unrealized gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 591.42 Td (Included in net income [1], [2], [6]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.80 591.42 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.15 591.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.80 591.42 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.15 591.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.80 591.47 Td (\(83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 591.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.15 591.42 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.15 591.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.80 591.47 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.15 591.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.80 591.47 Td (\(55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 591.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.80 591.47 Td (\(162) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 591.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 591.42 Td (109) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 576.42 Td (Included in OCI [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.15 576.42 Td (49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.10 576.42 Td (163) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.10 576.42 Td (152) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.80 576.47 Td (\(46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.15 576.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.15 576.42 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 576.42 Td (41) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.10 576.42 Td (315) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.15 576.42 Td (676) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 576.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 561.42 Td (Purchases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.15 561.42 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.15 561.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.15 561.42 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.15 561.42 Td (264) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.15 561.42 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.15 561.42 Td (293) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.10 561.42 Td (446) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.65 561.42 Td (1,083) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 561.42 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 546.42 Td (Settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.80 546.42 Td (\(63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.15 546.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.80 546.42 Td (\(47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.15 546.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.80 546.47 Td (\(160) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 546.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.80 546.47 Td (\(157) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.15 546.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.80 546.47 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.15 546.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 546.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.80 546.47 Td (\(151) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 546.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.80 546.47 Td (\(582) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 546.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 546.42 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 546.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 531.42 Td (Sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.80 531.42 Td (\(37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.15 531.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.80 531.42 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.15 531.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.80 531.47 Td (\(210) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 531.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.80 531.47 Td (\(114) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.15 531.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.80 531.47 Td (\(19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.15 531.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.80 531.47 Td (\(96) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.15 531.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.80 531.47 Td (\(207) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 531.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.80 531.47 Td (\(686) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 531.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 531.42 Td (\(391) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 531.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 516.42 Td (Transfers into Level 3 [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.15 516.42 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.10 516.42 Td (483) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.10 516.42 Td (666) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.15 516.42 Td (775) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.15 516.42 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.15 516.42 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.15 516.42 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.65 516.42 Td (1,968) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 516.42 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 501.42 Td (Transfers out of Level 3 [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.80 501.42 Td (\(79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.15 501.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.15 501.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.80 501.47 Td (\(115) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 501.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.80 501.47 Td (\(979) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.15 501.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.15 501.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.80 501.47 Td (\(468) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.15 501.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.80 501.47 Td (\(39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 501.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.30 501.47 Td (\(1,680) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 501.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 501.42 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 477.43 Td (Fair value as of December 31, 2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 201.50 477.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.10 477.43 Td (278) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 236.50 477.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 250.10 477.43 Td (944) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 271.50 477.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 285.10 477.43 Td (859) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 306.50 477.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 326.65 477.43 Td (2,001) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 355.50 477.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 380.15 477.43 Td (56) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.50 477.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 424.15 477.43 Td (227) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 445.50 477.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.60 477.43 Td (1,373) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 481.50 477.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.65 477.43 Td (5,738) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 534.50 477.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 477.43 Td (214) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 462.42 Td (Changes in unrealized gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 452.42 Td (included in net income related to) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 442.42 Td (financial instruments still held at) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 432.42 Td (December 31, 2012 [2] [7]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.50 432.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.80 432.42 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.15 432.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.50 432.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.80 432.42 Td (\(12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.15 432.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.50 432.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.80 432.47 Td (\(46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 432.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.50 432.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.80 432.47 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.15 432.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.50 432.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.15 432.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.50 432.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.80 432.47 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.15 432.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.50 432.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.80 432.47 Td (\(12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 432.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.50 432.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.80 432.47 Td (\(87) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 432.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.50 432.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 432.42 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 432.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 9.00 Tf ET q 0 0 0 rg BT 31.50 411.45 Td () Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 339.95 157.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 339.95 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.00 339.95 35.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.00 339.95 35.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 339.95 39.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 339.95 39.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 339.95 44.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 339.95 43.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 339.95 44.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 339.95 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 289.95 157.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 289.95 46.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.00 289.95 35.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.00 289.95 35.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 289.95 39.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 289.95 39.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 289.95 44.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 289.95 43.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 289.95 44.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 289.95 67.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 249.95 157.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 249.95 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.00 249.95 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.00 249.95 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 249.95 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 249.95 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 249.95 44.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 249.95 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 249.95 44.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 249.95 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 219.95 157.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 219.95 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.00 219.95 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.00 219.95 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 219.95 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 219.95 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 219.95 44.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 219.95 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 219.95 44.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 219.95 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 189.95 157.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 189.95 46.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.00 189.95 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.00 189.95 35.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 189.95 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 189.95 39.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 189.95 44.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 189.95 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 189.95 44.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 189.95 67.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 150.95 157.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 189.00 150.95 46.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 235.00 150.95 35.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 270.00 150.95 35.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 305.00 150.95 39.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 150.95 39.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.00 150.95 44.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 427.00 150.95 43.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 150.95 44.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 514.00 150.95 67.00 -45.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 235 380.95000000000005 m 270 380.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 270 380.95000000000005 m 305 380.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 305 380.95000000000005 m 344 380.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344 380.95000000000005 m 383 380.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383 380.95000000000005 m 427 380.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 380.95000000000005 m 470 380.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470 380.95000000000005 m 514 380.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 514 380.95000000000005 m 581 380.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 339.95000000000005 m 189 339.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 189 339.95000000000005 m 235 339.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 235 339.95000000000005 m 270 339.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 270 339.95000000000005 m 305 339.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 305 339.95000000000005 m 344 339.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344 339.95000000000005 m 383 339.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383 339.95000000000005 m 427 339.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 339.95000000000005 m 470 339.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470 339.95000000000005 m 514 339.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 514 339.95000000000005 m 581 339.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 174.95000000000005 m 189 174.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 189 174.95000000000005 m 235 174.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 235 174.95000000000005 m 270 174.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 270 174.95000000000005 m 305 174.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 305 174.95000000000005 m 344 174.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344 174.95000000000005 m 383 174.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 383 174.95000000000005 m 427 174.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 427 174.95000000000005 m 470 174.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470 174.95000000000005 m 514 174.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 514 174.95000000000005 m 581 174.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 150.95000000000005 m 189 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 189 150.95000000000005 m 235 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 235 150.95000000000005 m 270 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270 150.95000000000005 m 305 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 150.95000000000005 m 344 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 150.95000000000005 m 383 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 150.95000000000005 m 427 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 150.95000000000005 m 470 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 150.95000000000005 m 514 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 150.95000000000005 m 581 150.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 105.95000000000005 m 189 105.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 189 105.95000000000005 m 235 105.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 235 105.95000000000005 m 270 105.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 270 105.95000000000005 m 305 105.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 105.95000000000005 m 344 105.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 105.95000000000005 m 383 105.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 383 105.95000000000005 m 427 105.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427 105.95000000000005 m 470 105.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 105.95000000000005 m 514 105.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 514 105.95000000000005 m 581 105.95000000000005 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 385.41 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 191.50 385.41 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 353.05 385.40 Td (Freestanding Derivatives [5]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 344.40 Td (Assets \(Liabilities\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 198.45 362.40 Td (Equity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 191.60 353.40 Td (Securities,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 202.95 344.40 Td (AFS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 239.55 344.40 Td (Credit) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 273.95 344.40 Td (Equity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 309.05 353.40 Td (Inter) Tj ET Q q 0 0 0 rg BT 328.38 353.40 Td (est) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 315.00 344.40 Td (Rate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 354.95 362.40 Td (U.S.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.75 353.40 Td (GMWB) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 346.70 344.40 Td (Hedging) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.45 371.40 Td (U.S.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.80 362.40 Td (Macr) Tj ET Q q 0 0 0 rg BT 412.62 362.40 Td (o) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.25 353.40 Td (Hedge) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 387.30 344.40 Td (Pr) Tj ET Q q 0 0 0 rg BT 396.63 344.40 Td (ogram) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.85 362.40 Td (Intl.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.80 353.40 Td (Pr) Tj ET Q q 0 0 0 rg BT 440.13 353.40 Td (ogram) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.70 344.40 Td (Hedging) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.05 353.40 Td (Other) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.50 344.40 Td (Contracts) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.85 362.40 Td (T) Tj ET Q q 0 0 0 rg BT 531.03 362.40 Td (otal Fr) Tj ET Q q 0 0 0 rg BT 557.10 362.40 Td (ee-) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.70 353.40 Td (Standing) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.85 344.40 Td (Derivatives[5]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 319.62 Td (Fair value as of January 1, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.50 319.62 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.15 319.62 Td (93) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.50 319.62 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 247.80 319.62 Td (\(561) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.15 319.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.50 319.62 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.15 319.62 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.50 319.62 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.80 319.67 Td (\(58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.15 319.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.50 319.62 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.15 319.62 Td (883) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.50 319.62 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 319.62 Td (357) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.50 319.62 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.15 319.62 Td (35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.50 319.62 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 319.62 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.50 319.62 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 319.62 Td (724) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 304.62 Td (Total realized/unrealized gains) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 294.62 Td (\(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 279.62 Td (Included in net income [1], [2],) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 269.62 Td ([6]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.15 269.62 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.10 269.62 Td (195) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.80 269.67 Td (\(40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 269.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.80 269.67 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.15 269.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.80 269.67 Td (\(429) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.15 269.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.80 269.67 Td (\(323) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 269.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.80 269.67 Td (\(21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 269.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.80 269.67 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.15 269.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 269.62 Td (\(632) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 269.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 254.62 Td (Included in OCI [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.80 254.62 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.15 254.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.15 254.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.15 254.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.15 254.62 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.15 254.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 254.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.15 254.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 254.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 254.62 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 239.62 Td (Purchases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.15 239.62 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.15 239.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.15 239.62 Td (76) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.15 239.62 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.15 239.62 Td (55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.15 239.62 Td (252) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.80 239.67 Td (\(58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 239.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 239.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 239.62 Td (326) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 224.62 Td (Settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.15 224.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.10 224.62 Td (371) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.80 224.67 Td (\(19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.15 224.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 224.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.80 224.67 Td (\(13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.15 224.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 224.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.15 224.62 Td (104) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 224.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 224.62 Td (443) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 209.62 Td (Sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.80 209.62 Td (\(33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.15 209.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.15 209.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.15 209.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 209.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.15 209.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 209.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.15 209.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 209.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 209.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 194.62 Td (Transfers into Level 3 [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.15 194.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.15 194.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.15 194.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 194.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.15 194.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 194.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.15 194.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 194.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 194.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 179.62 Td (Transfers out of Level 3 [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.15 179.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 257.80 179.62 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.15 179.62 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.15 179.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 179.62 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.15 179.62 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.15 179.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.15 179.62 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 179.62 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 179.62 Td (62) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 155.63 Td (Fair value as of December 31, 2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 191.50 155.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 221.15 155.63 Td (84) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 237.50 155.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 261.15 155.63 Td (4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 272.50 155.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 291.15 155.63 Td (57) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.50 155.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 326.80 155.68 Td (\(32) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.15 155.63 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.50 155.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 364.15 155.63 Td (519) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 385.50 155.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.15 155.63 Td (286) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.50 155.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 456.15 155.63 Td (68) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.50 155.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 500.15 155.63 Td (23) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 516.50 155.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 155.63 Td (925) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 140.62 Td (Changes in unrealized gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 130.62 Td (included in net income related to) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg 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/GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 318.90 167.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 199.00 318.90 54.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 253.00 318.90 60.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 313.00 318.90 60.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 373.00 318.90 50.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 318.90 58.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.00 318.90 50.00 -45.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.00 318.90 50.00 -45.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 199 457.9 m 253 457.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 253 457.9 m 313 457.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 313 457.9 m 373 457.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373 457.9 m 423 457.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 457.9 m 481 457.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 407.9 m 199 407.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 199 407.9 m 253 407.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 253 407.9 m 313 407.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 313 407.9 m 373 407.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373 407.9 m 423 407.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 407.9 m 481 407.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481 407.9 m 531 407.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531 407.9 m 581 407.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 332.9 m 199 332.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 199 332.9 m 253 332.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 253 332.9 m 313 332.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 313 332.9 m 373 332.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 373 332.9 m 423 332.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 423 332.9 m 481 332.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 481 332.9 m 531 332.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531 332.9 m 581 332.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 318.9 m 199 318.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199 318.9 m 253 318.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253 318.9 m 313 318.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 318.9 m 373 318.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373 318.9 m 423 318.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 318.9 m 481 318.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 318.9 m 531 318.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531 318.9 m 581 318.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 273.9 m 199 273.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 199 273.9 m 253 273.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 253 273.9 m 313 273.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 273.9 m 373 273.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 373 273.9 m 423 273.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423 273.9 m 481 273.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481 273.9 m 531 273.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531 273.9 m 581 273.9 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 462.36 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 248.25 462.35 Td (Other Policyholder Funds and Benefits Payable) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 483.50 462.36 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 533.50 462.36 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 412.35 Td (Liabilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 217.45 439.35 Td (U.S.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 202.50 430.35 Td (Guaranteed) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 202.30 421.35 Td (W) Tj ET Q q 0 0 0 rg BT 211.14 421.35 Td (ithdrawal) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 210.00 412.35 Td (Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 256.95 439.35 Td (International) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 259.50 430.35 Td (Guaranteed) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 269.95 421.35 Td (Living) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 267.00 412.35 Td (Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 316.95 430.35 Td (International) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.45 421.35 Td (Other) Tj ET Q q 0 0 0 rg BT 340.28 421.35 Td ( Living) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.00 412.35 Td (Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.45 430.35 Td (Equity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 383.70 421.35 Td (Linked) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 386.75 412.35 Td (Notes) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.10 448.35 Td (T) Tj ET Q q 0 0 0 rg BT 434.28 448.35 Td (otal Other) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.30 439.35 Td (Policyholder) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.10 430.35 Td (Funds and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 436.00 421.35 Td (Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 436.25 412.35 Td (Payable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 494.05 421.35 Td (Other) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 486.20 412.35 Td (Liabilities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.55 421.35 Td (Consumer) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 544.75 412.35 Td (Notes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 397.57 Td (Fair value as of January 1, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.50 397.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.30 397.57 Td (\(2,538) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.15 397.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.50 397.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.80 397.62 Td (\(66) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 397.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.50 397.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.80 397.62 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.15 397.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.50 397.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.80 397.62 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.15 397.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.50 397.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.30 397.62 Td (\(2,618) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 397.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.50 397.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.80 397.62 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 397.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.50 397.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 397.57 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 397.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 382.57 Td (Total realized/unrealized gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 367.57 Td (Included in net income [1], [2], [6]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.65 367.57 Td (1,430) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.15 367.57 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.15 367.57 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 367.57 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.65 367.57 Td (1,469) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.80 367.62 Td (\(34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 367.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 367.57 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 352.57 Td (Included in OCI [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.15 352.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.15 352.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.15 352.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 352.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 352.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 352.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 352.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 337.57 Td (Settlements [8]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.80 337.57 Td (\(141) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.15 337.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.80 337.62 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 337.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.80 337.62 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.15 337.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.15 337.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.80 337.62 Td (\(155) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 337.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 337.57 Td (43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 337.57 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 323.58 Td (Fair value as of December 31, 2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 201.50 323.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 223.30 323.58 Td (\(1,249) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 249.15 323.58 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 255.50 323.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.80 323.63 Td (\(50) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 309.15 323.58 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 315.50 323.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 364.15 323.58 Td (2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 375.50 323.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 410.80 323.63 Td (\(7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.15 323.58 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 425.50 323.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 451.30 323.63 Td (\(1,304) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 477.15 323.58 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.50 323.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.15 323.58 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 533.50 323.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 568.80 323.58 Td (\(2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 323.58 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 308.57 Td (Changes in unrealized gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 298.57 Td (included in net income related to) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 288.57 Td (financial instruments still held at) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 278.57 Td (December 31, 2012 [2] [7]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.50 278.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.65 278.57 Td (1,430) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.50 278.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.15 278.57 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.50 278.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.15 278.57 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.50 278.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 278.57 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.50 278.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.65 278.57 Td (1,469) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.50 278.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 278.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.50 278.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 278.57 Td (2) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 257.60 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 257.60 Td (The Company classifies gains and losses on GMWB r) Tj ET Q q 0 0 0 rg BT 246.66 257.60 Td (einsurance derivatives and Guaranteed Living Benefit embedded derivatives as unr) Tj ET Q q 0 0 0 rg BT 547.00 257.60 Td (ealized ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 246.80 Td (gains \(losses\) for purposes of disclosur) Tj ET Q q 0 0 0 rg BT 194.92 246.80 Td (e in this table because it is impracticable to track on a contract-by-contract basis the r) Tj ET Q q 0 0 0 rg BT 506.78 246.80 Td (ealized gains ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 236.00 Td (\(losses\) for these derivatives and embedded derivatives.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 225.20 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 225.20 Td (All amounts in these r) Tj ET Q q 0 0 0 rg BT 132.66 225.20 Td (ows ar) Tj ET Q q 0 0 0 rg BT 156.59 225.20 Td (e r) Tj ET Q q 0 0 0 rg BT 166.00 225.20 Td (eported in net r) Tj ET Q q 0 0 0 rg BT 221.41 225.20 Td (ealized capital gains/losses. The r) Tj ET Q q 0 0 0 rg BT 343.32 225.20 Td (ealized/unr) Tj ET Q q 0 0 0 rg BT 383.48 225.20 Td (ealized gains \(losses\) included in net income for ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 214.40 Td (separate account assets ar) Tj ET Q q 0 0 0 rg BT 149.41 214.40 Td (e offset by an equal amount for separate account liabilities, which r) Tj ET Q q 0 0 0 rg BT 393.04 214.40 Td (esults in a net zer) Tj ET Q q 0 0 0 rg BT 455.70 214.40 Td (o impact on net income for the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 203.60 Td (Company) Tj ET Q q 0 0 0 rg BT 88.00 203.60 Td (. ) Tj ET Q q 0 0 0 rg BT 92.34 203.60 Td (All amounts ar) Tj ET Q q 0 0 0 rg BT 145.51 203.60 Td (e befor) Tj ET Q q 0 0 0 rg BT 170.42 203.60 Td (e income taxes and amortization DAC.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 192.80 Td ([3] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 192.80 Td (All amounts ar) Tj ET Q q 0 0 0 rg BT 107.17 192.80 Td (e befor) Tj ET Q q 0 0 0 rg BT 132.08 192.80 Td (e income taxes and amortization of DAC.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 182.00 Td ([4] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 182.00 Td (T) Tj ET Q q 0 0 0 rg BT 58.51 182.00 Td (ransfers in and/or \(out\) of Level 3 ar) Tj ET Q q 0 0 0 rg BT 190.92 182.00 Td (e primarily attributable to the availability of market observable information and the r) Tj ET Q q 0 0 0 rg BT 499.05 182.00 Td (e-evaluation of the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 171.20 Td (observability of pricing inputs.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 160.45 Td ([5] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 160.45 Td (Derivative instruments ar) Tj ET Q q 0 0 0 rg BT 146.15 160.45 Td (e r) Tj ET Q q 0 0 0 rg BT 155.57 160.45 Td (eported in this table on a net basis for asset/\(liability\) positions and r) Tj ET Q q 0 0 0 rg BT 405.23 160.45 Td (eported in the Consolidated Balance Sheet in ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 149.65 Td (other investments and other liabilities.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 138.85 Td ([6] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 138.85 Td (Includes both market and non-market impacts in deriving r) Tj ET Q q 0 0 0 rg BT 266.63 138.85 Td (ealized and unr) Tj ET Q q 0 0 0 rg BT 322.29 138.85 Td (ealized gains \(losses\).) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 128.05 Td ([7] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 128.05 Td (Amounts pr) Tj ET Q q 0 0 0 rg BT 95.42 128.05 Td (esented ar) Tj ET Q q 0 0 0 rg BT 132.32 128.05 Td (e for Level 3 only and ther) Tj ET Q q 0 0 0 rg BT 227.47 128.05 Td (efor) Tj ET Q q 0 0 0 rg BT 241.63 128.05 Td (e may not agr) Tj ET Q q 0 0 0 rg BT 291.04 128.05 Td (ee to other disclosur) Tj ET Q q 0 0 0 rg BT 364.45 128.05 Td (es included her) Tj ET Q q 0 0 0 rg BT 419.10 128.05 Td (ein.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 117.25 Td ([8] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 117.25 Td (Settlements of other liabilities r) Tj ET Q q 0 0 0 rg BT 167.15 117.25 Td (eflect the r) Tj ET Q q 0 0 0 rg BT 205.30 117.25 Td (emoval of liabilities carried at fair value upon the deconsolidation of a variable inter) Tj ET Q q 0 0 0 rg BT 512.18 117.25 Td (est entity) Tj ET Q q 0 0 0 rg BT 543.92 117.25 Td (. See ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 106.45 Td (note 6, Investments and Derivative Instruments for additional information.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 359 0 obj <> endobj 360 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-43) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Fair V) Tj ET Q q 0 0 0 rg BT 57.90 713.25 Td (alue Option) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The Company holds fair value option investments that contain an embedded credit derivative with underlying credit risk primarily ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (related to commercial real estate. ) Tj ET Q q 0 0 0 rg BT 168.38 683.25 Td (Also included are foreign government securities for which the FVO was elected in order to align with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (the accounting for yen-based fixed annuity liabilities, which are adjusted for changes in spot rates through realized gains and losses. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (Similar to other fixed maturities, income earned from these securities is recorded in net investment income. Changes in the fair value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (these securities are recorded in net realized capital gains and losses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (The Company also elected the fair value option for certain consolidated ) Tj ET Q q 0 0 0 rg BT 320.38 629.25 Td (VIE investment funds. ) Tj ET Q q 0 0 0 rg BT 415.46 629.25 Td (The Company elected the fair value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (option in order to report investments of consolidated investment companies at fair value with changes in the fair value of these securities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (recognized in net realized capital gains and losses, consistent with accounting requirement for investment companies. ) Tj ET Q q 0 0 0 rg BT 503.67 605.25 Td (The investment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (funds primarily hold fixed income securities and the Company has management and control of the funds as well as a significant ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (ownership interest.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (The following table presents the changes in fair value of those assets and liabilities accounted for using the fair value option reported in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (net realized capital gains and losses in the Company) Tj ET Q q 0 0 0 rg BT 243.11 551.25 Td (s Consolidated Statements of Operations.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 512.75 389.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 512.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 512.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 482.75 389.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 482.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 482.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 452.75 389.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 452.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 452.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 422.75 389.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 422.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 422.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 392.75 389.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 392.75 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 392.75 80.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 522.75 m 501 522.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 522.75 m 581 522.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 522.75 m 501 522.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 512.75 m 501 512.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 522.75 m 581 522.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 512.75 m 581 512.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 377.75 m 421 377.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 363.75 m 421 363.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 377.75 m 501 377.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 363.75 m 501 363.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 377.75 m 581 377.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 363.75 m 581 363.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 427.90 525.48 Td (For the years ended December 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 449.25 513.53 Td ( 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 529.25 513.53 Td ( 2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 502.43 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 502.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 502.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 487.42 Td (Fixed maturities, FVO) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 487.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 487.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 472.42 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.80 472.47 Td (\(13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 472.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 472.42 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 457.42 Td (CRE CDOs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 457.42 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 457.42 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 442.42 Td (CMBS bonds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 442.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 442.42 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 442.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 427.42 Td (Foreign government) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.80 427.47 Td (\(115) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 427.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 427.42 Td (\(86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 427.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 412.42 Td (RMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 412.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 412.42 Td (5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 397.43 Td (Other liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 382.42 Td (Credit-linked notes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 382.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 382.42 Td (\(34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 382.42 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 368.43 Td (Total realized capital gains \(losses\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 423.50 368.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 478.80 368.48 Td (\(117) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 497.15 368.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.50 368.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 563.80 368.43 Td (\(41) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 368.43 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 346.25 Td (The following table presents the fair value of assets and liabilities accounted for using the fair value option included in the Company) Tj ET Q q 0 0 0 rg BT 564.96 346.25 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 334.25 Td (Consolidated Balance Sheets.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 293.75 389.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 293.75 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 293.75 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 269.75 389.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 269.75 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 269.75 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 245.75 389.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 245.75 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 245.75 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 221.75 389.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 421.00 221.75 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 221.75 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 197.75 389.00 -12.00 re f /GS0 gs 0.8 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0 i [] 0 d 0 J 0 j 3 M 32 173.75 m 421 173.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 161.75 m 421 161.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 421 173.75 m 501 173.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 421 161.75 m 501 161.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 173.75 m 581 173.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 161.75 m 581 161.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.20 308.48 Td (As of December 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 449.25 296.48 Td ( 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 529.25 296.48 Td ( 2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 284.48 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 272.37 Td (Fixed maturities, FVO) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 260.37 Td (ABS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 260.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 260.37 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 260.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 260.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 248.37 Td (CRE CDOs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 248.37 Td (183) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 248.37 Td (205) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 236.37 Td (CMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 236.37 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 236.37 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 224.37 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 224.37 Td (92) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 224.37 Td (140) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 212.37 Td (Foreign government) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 212.37 Td (518) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 212.37 Td (730) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 200.37 Td (U.S. government) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 200.37 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 200.37 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 188.37 Td (Municipals) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 188.37 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 188.37 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 176.37 Td (RMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 176.37 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 176.37 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 164.37 Td (Total fixed maturities, FVO) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 164.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 164.37 Td (844) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.50 164.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 164.37 Td (1,087) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 361 0 obj <> endobj 362 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-44) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Financial Instruments Not Carried at Fair V) Tj ET Q q 0 0 0 rg BT 215.44 713.25 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The following table presents carrying amounts and fair values of ) Tj ET Q q 0 0 0 rg BT 292.35 695.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 347.60 695.25 Td (s financial instruments not carried at fair value and not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (included in the above fair value discussion as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.17 683.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.75 683.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.19 683.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.19 683.25 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 618.75 229.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 618.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 618.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 618.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 618.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 618.75 64.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 589.75 229.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 589.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 589.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 589.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 589.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 589.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 560.75 229.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 560.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 560.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 560.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 560.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 560.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 530.75 229.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 530.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 530.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 530.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 530.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 530.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 500.75 229.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 500.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 500.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 500.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 500.75 64.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 500.75 64.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 325 653.75 m 389 653.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 653.75 m 453 653.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 453 653.75 m 517 653.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517 653.75 m 581 653.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 618.75 m 261 618.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 261 618.75 m 325 618.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 325 618.75 m 389 618.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 618.75 m 453 618.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 453 618.75 m 517 618.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517 618.75 m 581 618.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 574.75 m 261 574.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 261 574.75 m 325 574.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 325 574.75 m 389 574.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 574.75 m 453 574.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 453 574.75 m 517 574.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517 574.75 m 581 574.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 485.75 m 261 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 485.75 m 325 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 485.75 m 389 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 485.75 m 453 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 485.75 m 517 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 485.75 m 581 485.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 658.15 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 352.20 658.15 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.20 658.15 Td (December 31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 623.20 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 272.45 641.20 Td (FairValue) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 272.80 632.20 Td (Hierarchy) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.00 623.20 Td (Level) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.75 632.20 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 340.70 623.20 Td (Amount) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 412.30 632.20 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 409.65 623.20 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.75 632.20 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 468.70 623.20 Td (Amount) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.30 632.20 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.65 623.20 Td (Value) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 609.48 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 595.32 Td (Policy loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.20 594.42 Td (Level3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.50 594.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.65 594.42 Td (1,420) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.50 594.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.65 594.42 Td (1,480) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.50 594.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.65 594.42 Td (1,997) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.50 594.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 594.42 Td (2,165) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 580.32 Td (Mortgage loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.20 579.42 Td (Level3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.65 579.42 Td (5,598) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.65 579.42 Td (5,641) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.65 579.42 Td (6,711) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 579.42 Td (6,933) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 565.48 Td (Liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 551.32 Td (Other policyholder funds and benefits payable [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.20 550.42 Td (Level3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.50 550.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.65 550.42 Td (9,152) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.50 550.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.65 550.42 Td (9,352) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.50 550.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.65 550.42 Td (9,558) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.50 550.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 550.42 Td (9,910) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 536.32 Td (Senior notes [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.20 535.42 Td (Level2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.65 535.42 Td (5,206) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.65 535.42 Td (5,845) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.65 535.42 Td (5,706) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 535.42 Td (7,071) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 521.32 Td (Junior subordinated debentures [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.20 520.42 Td (Level2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.65 520.42 Td (1,100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.65 520.42 Td (1,271) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.65 520.42 Td (1,100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 520.42 Td (1,265) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 506.32 Td (Revolving Credit Facility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.20 505.42 Td (Level2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 505.42 Td (238) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.15 505.42 Td (238) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.15 505.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 505.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 491.32 Td (Consumer notes [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.20 490.42 Td (Level3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 490.42 Td (82) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.15 490.42 Td (82) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 490.42 Td (159) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 490.42 Td (159) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 469.45 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 469.45 Td (Excludes guarantees on variable annuities, gr) Tj ET Q q 0 0 0 rg BT 219.64 469.45 Td (oup accident and health and universal life insurance contracts, including corporate owned life ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 458.65 Td (insurance.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 447.85 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 447.85 Td (Included in long-term debt in the Consolidated Balance Sheets, except for curr) Tj ET Q q 0 0 0 rg BT 337.60 447.85 Td (ent maturities, which ar) Tj ET Q q 0 0 0 rg BT 423.26 447.85 Td (e included in short-term debt.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 36.00 437.05 Td ([3] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 54.00 437.05 Td (Excludes amounts carried at fair value and included in pr) Tj ET Q q 0 0 0 rg BT 262.38 437.05 Td (eceding disclosur) Tj ET Q q 0 0 0 rg BT 325.29 437.05 Td (es.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.05 Td (The Company has not made any changes in its valuation methodologies for the following assets and liabilities during the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.05 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 407.05 Td ( or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 123.41 407.05 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.00 407.05 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 389.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 389.05 Td (Fair value for policy loans and consumer notes were estimated using discounted cash flow calculations using current interest rates ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 377.05 Td (adjusted for estimated loan durations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 359.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 359.05 Td (Fair values for mortgage loans were estimated using discounted cash flow calculations based on current lending rates for similar ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 347.05 Td (type loans. Current lending rates reflect changes in credit spreads and the remaining terms of the loans.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 329.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 329.05 Td (Fair values for other policyholder funds and benefits payable, not carried at fair value, are estimated based on the cash surrender ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 317.05 Td (values of the underlying policies or by estimating future cash flows discounted at current interest rates adjusted for credit risk.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 299.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 299.05 Td (Fair values for senior notes and junior subordinated debentures are determined using the market approach based on reported ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 287.05 Td (trades, benchmark interest rates and issuer spread for the Company which may consider credit default swaps.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.35 269.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 269.05 Td (Fair values for private placement junior subordinated debentures are based primarily on market quotations from independent third ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 257.05 Td (party brokers.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (5. Fair) Tj ET Q q 0 0 0 rg BT 62.96 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 65.51 731.80 Td (V) Tj ET Q q 0 0 0 rg BT 72.44 731.80 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 130.60 731.80 Td (ements \(continued\)) Tj ET Q endstream endobj 363 0 obj <> endobj 364 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-45) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (6) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 37.00 712.60 Td (. ) Tj ET Q q 0 0 0 rg BT 42.50 712.60 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.08 712.60 Td (and ) Tj ET Q q 0 0 0 rg BT 122.57 712.60 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.18 712.60 Td (Instruments) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 695.55 Td (Net ) Tj ET Q q 0 0 0 rg BT 48.99 695.55 Td (Investment ) Tj ET Q q 0 0 0 rg BT 99.26 695.55 Td (Income ) Tj ET Q q 0 0 0 rg BT 133.42 695.55 Td (\(Loss\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 660.05 379.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 660.05 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 660.05 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 660.05 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 630.05 379.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 630.05 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 630.05 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 630.05 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 600.05 379.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 600.05 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 600.05 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 600.05 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 570.05 379.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 570.05 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 570.05 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 570.05 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 540.05 379.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 540.05 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 540.05 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 540.05 56.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 674.05 m 468 674.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 674.05 m 525 674.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 674.05 m 581 674.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 660.05 m 411 660.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 674.05 m 468 674.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 660.05 m 468 660.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 674.05 m 525 674.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 660.05 m 525 660.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 674.05 m 581 674.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 660.05 m 581 660.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 660.05 m 581 660.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 555.05 m 411 555.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411 555.05 m 468 555.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 555.05 m 525 555.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 555.05 m 581 555.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 525.05 m 411 525.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 512.05 m 411 512.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411 525.05 m 468 525.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 512.05 m 468 512.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 468 525.05 m 525 525.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 512.05 m 525 512.05 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 525.05 m 581 525.05 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 512.05 m 581 512.05 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.15 676.50 Td (For the years ended December 31,) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 34.50 664.50 Td (\(Before-tax\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.85 664.50 Td ( 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.85 664.50 Td ( 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.70 664.50 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 649.72 Td (Fixed maturities [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.50 649.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 649.72 Td (2,623) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.50 649.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 649.72 Td (3,352) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 649.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 649.72 Td (3,382) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 634.72 Td (Equity securities, AFS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 634.72 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 634.72 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 634.72 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 619.72 Td (Mortgage loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.15 619.72 Td (262) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 619.72 Td (337) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 619.72 Td (281) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 604.72 Td (Policy loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 604.72 Td (83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 604.72 Td (119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 604.72 Td (131) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 589.72 Td (Limited partnerships and other alternative investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.15 589.72 Td (287) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 589.72 Td (196) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 589.72 Td (243) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 574.72 Td (Other investments [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.15 574.72 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 574.72 Td (297) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 574.72 Td (305) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 559.72 Td (Investment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.80 559.77 Td (\(123) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.15 559.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.80 559.77 Td (\(111) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 559.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 559.72 Td (\(115) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 559.72 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 544.73 Td (Total securities AFS and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 544.72 Td (3,362) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 544.72 Td (4,227) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 544.72 Td (4,263) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 529.72 Td (Equity securities, trading) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 529.72 Td (6,061) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 529.72 Td (4,364) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.30 529.72 Td (\(1,345) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 529.72 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 515.78 Td (Total net investment income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.50 515.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.65 515.78 Td (9,423) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.50 515.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.65 515.78 Td (8,591) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 515.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 515.78 Td (2,918) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 495.75 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 495.75 Td (Includes net investment income on short-term investments.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 484.95 Td ([2] ) Tj ET Q q 0 0 0 rg BT 49.50 484.95 Td (Includes income fr) Tj ET Q q 0 0 0 rg BT 116.15 484.95 Td (om derivatives that hedge fixed maturities and qualify for hedge accounting.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 469.95 Td (The ) Tj ET Q q 0 0 0 rg BT 49.38 469.95 Td (net ) Tj ET Q q 0 0 0 rg BT 63.92 469.95 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 107.90 469.95 Td (gain ) Tj ET Q q 0 0 0 rg BT 127.44 469.95 Td (\(loss\)on ) Tj ET Q q 0 0 0 rg BT 164.50 469.95 Td (equity ) Tj ET Q q 0 0 0 rg BT 191.82 469.95 Td (securities, ) Tj ET Q q 0 0 0 rg BT 234.42 469.95 Td (trading, ) Tj ET Q q 0 0 0 rg BT 267.57 469.95 Td (included ) Tj ET Q q 0 0 0 rg BT 304.34 469.95 Td (in ) Tj ET Q q 0 0 0 rg BT 314.44 469.95 Td (net ) Tj ET Q q 0 0 0 rg BT 328.99 469.95 Td (investment ) Tj ET Q q 0 0 0 rg BT 375.20 469.95 Td (income ) Tj ET Q q 0 0 0 rg BT 406.97 469.95 Td (during ) Tj ET Q q 0 0 0 rg BT 435.41 469.95 Td (the ) Tj ET Q q 0 0 0 rg BT 449.95 469.95 Td (years ) Tj ET Q q 0 0 0 rg BT 473.38 469.95 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.59 469.95 Td (December31, ) Tj ET Q q 0 0 0 rg BT 558.01 469.95 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 578.01 469.95 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 457.95 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 457.95 Td ( ) Tj ET Q q 0 0 0 rg BT 53.31 457.95 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 69.55 457.95 Td (201) Tj ET Q q 0 0 0 rg BT 84.18 457.95 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.18 457.95 Td (, ) Tj ET Q q 0 0 0 rg BT 93.48 457.95 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.84 457.95 Td ($4.1 ) Tj ET Q q 0 0 0 rg BT 130.15 457.95 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.26 457.95 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 160.57 457.95 Td ($4.5 ) Tj ET Q q 0 0 0 rg BT 179.87 457.95 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.99 457.95 Td ( ) Tj ET Q q 0 0 0 rg BT 207.79 457.95 Td (and ) Tj ET Q q 0 0 0 rg BT 224.04 457.95 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 229.04 457.95 Td (\(1.3\) ) Tj ET Q q 0 0 0 rg BT 250.00 457.95 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.11 457.95 Td (, ) Tj ET Q q 0 0 0 rg BT 280.42 457.95 Td (respectively) Tj ET Q q 0 0 0 rg BT 328.08 457.95 Td (, ) Tj ET Q q 0 0 0 rg BT 332.39 457.95 Td (substantially ) Tj ET Q q 0 0 0 rg BT 384.74 457.95 Td (all ) Tj ET Q q 0 0 0 rg BT 396.54 457.95 Td (of ) Tj ET Q q 0 0 0 rg BT 406.68 457.95 Td (which ) Tj ET Q q 0 0 0 rg BT 432.92 457.95 Td (have ) Tj ET Q q 0 0 0 rg BT 453.61 457.95 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 512.62 457.95 Td (amounts ) Tj ET Q q 0 0 0 rg BT 548.31 457.95 Td (credited ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 445.95 Td (to ) Tj ET Q q 0 0 0 rg BT 41.78 445.95 Td (policyholders. ) Tj ET Q q 0 0 0 rg BT 101.03 445.95 Td (These ) Tj ET Q q 0 0 0 rg BT 127.41 445.95 Td (amounts ) Tj ET Q q 0 0 0 rg BT 163.79 445.95 Td (were ) Tj ET Q q 0 0 0 rg BT 185.72 445.95 Td (not ) Tj ET Q q 0 0 0 rg BT 201.00 445.95 Td (included ) Tj ET Q q 0 0 0 rg BT 237.94 445.95 Td (in ) Tj ET Q q 0 0 0 rg BT 248.21 445.95 Td (net ) Tj ET Q q 0 0 0 rg BT 262.93 445.95 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 307.07 445.95 Td (gains ) Tj ET Q q 0 0 0 rg BT 330.68 445.95 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 363.73 445.95 Td (in ) Tj ET Q q 0 0 0 rg BT 374.01 445.95 Td (the ) Tj ET Q q 0 0 0 rg BT 388.73 445.95 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 449.54 445.95 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 504.81 445.95 Td (Balance ) Tj ET Q q 0 0 0 rg BT 539.51 445.95 Td (Sheets.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 427.95 Td (Net ) Tj ET Q q 0 0 0 rg BT 48.99 427.95 Td (Realized ) Tj ET Q q 0 0 0 rg BT 88.15 427.95 Td (Capital ) Tj ET Q q 0 0 0 rg BT 122.32 427.95 Td (Gains ) Tj ET Q q 0 0 0 rg BT 149.83 427.95 Td (\(Losses\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 389.45 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 389.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 389.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 389.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 361.45 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 361.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 361.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 361.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 333.45 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 333.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 333.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 333.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 305.45 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 305.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 305.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 305.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 277.45 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 277.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 277.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 277.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 249.45 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 249.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 249.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 249.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 221.45 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 221.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 451.00 221.45 65.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 516.00 221.45 65.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 404.45000000000005 m 451 404.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 404.45000000000005 m 516 404.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 404.45000000000005 m 581 404.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 389.45000000000005 m 386 389.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 404.45000000000005 m 451 404.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 389.45000000000005 m 451 389.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 404.45000000000005 m 516 404.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 389.45000000000005 m 516 389.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 404.45000000000005 m 581 404.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 389.45000000000005 m 581 389.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 263.45000000000005 m 386 263.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 263.45000000000005 m 451 263.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 263.45000000000005 m 516 263.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 263.45000000000005 m 581 263.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 235.45000000000005 m 386 235.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 235.45000000000005 m 451 235.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 235.45000000000005 m 516 235.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 235.45000000000005 m 581 235.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 207.45000000000005 m 386 207.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 194.45000000000005 m 386 194.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 207.45000000000005 m 451 207.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 194.45000000000005 m 451 194.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 451 207.45000000000005 m 516 207.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 451 194.45000000000005 m 516 194.45000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 516 207.45000000000005 m 581 207.45000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 516 194.45000000000005 m 581 194.45000000000005 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 408.02 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.65 408.85 Td (For the years ended December 31,) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 34.50 393.90 Td (\(Before-tax\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 407.85 393.90 Td ( 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.85 393.90 Td ( 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.20 393.90 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 380.02 Td (Gross gains on sales [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.50 380.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.65 380.02 Td (2,387) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.50 380.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 380.02 Td (821) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 380.02 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 380.02 Td (687) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 366.02 Td (Gross losses on sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.80 366.07 Td (\(692) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 366.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.80 366.07 Td (\(440) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 366.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 366.02 Td (\(384) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 366.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 352.02 Td (Net OTTI losses recognized in earnings [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.80 352.07 Td (\(73) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 352.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.80 352.07 Td (\(349) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 352.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 352.02 Td (\(174) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 352.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 338.02 Td (Valuation allowances on mortgage loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.80 338.07 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 338.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 338.02 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 338.02 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 324.02 Td (Japanese fixed annuity contract hedges, net [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 324.02 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.80 324.07 Td (\(36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 324.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 324.02 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 310.02 Td (Periodic net coupon settlements on credit derivatives/Japan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.80 310.07 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 310.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.80 310.07 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 310.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 310.02 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 310.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 296.02 Td (Results of variable annuity hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 282.02 Td (GMWB derivatives, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.15 282.02 Td (262) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 282.02 Td (519) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 282.02 Td (\(397) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 282.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 268.02 Td (U.S. macro hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.80 268.07 Td (\(234) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 268.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.80 268.07 Td (\(340) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 268.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 268.02 Td (\(216) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 268.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 254.02 Td (Total U.S. program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 254.02 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 254.02 Td (179) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 254.02 Td (\(613) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 254.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 240.02 Td (International program [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.30 240.07 Td (\(1,586) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 240.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.30 240.07 Td (\(1,467) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 240.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 240.02 Td (691) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 226.02 Td (Total results of variable annuity hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.30 226.07 Td (\(1,558) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 226.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.30 226.07 Td (\(1,288) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 226.02 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 226.02 Td (78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 212.02 Td (Other, net [5]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.15 212.02 Td (445) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 212.02 Td (544) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 212.02 Td (\(450) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 212.02 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 198.18 Td (Net realized capital gains \(losses\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 388.50 198.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 432.15 198.18 Td (507) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 453.50 198.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.80 198.23 Td (\(744) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.15 198.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 518.50 198.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.80 198.18 Td (\(226) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 198.18 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 184.15 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 184.15 Td ( Includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 84.49 184.15 Td ($1.5 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 125.99 184.15 Td ( of gains r) Tj ET Q q 0 0 0 rg BT 162.41 184.15 Td (elating to the sales of the Retir) Tj ET Q q 0 0 0 rg BT 272.56 184.15 Td (ement Plans and Individual Life businesses in the year ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 495.02 184.15 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 565.75 184.15 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 173.35 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 173.35 Td (Includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 82.24 173.35 Td ($177) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 100.24 173.35 Td ( of intent-to-sell impairments r) Tj ET Q q 0 0 0 rg BT 210.40 173.35 Td (elating to the Retir) Tj ET Q q 0 0 0 rg BT 277.80 173.35 Td (ement Plans and Individual Life businesses sold for the year ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 521.02 173.35 Td (December31, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 162.60 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 162.60 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 151.80 Td ([3] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 151.80 Td (Includes for the years ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 155.97 151.80 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 226.70 151.80 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 231.20 151.80 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 249.20 151.80 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 269.45 151.80 Td (201) Tj ET Q q 0 0 0 rg BT 282.28 151.80 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 286.78 151.80 Td (, transactional for) Tj ET Q q 0 0 0 rg BT 351.70 151.80 Td (eign curr) Tj ET Q q 0 0 0 rg BT 384.61 151.80 Td (ency r) Tj ET Q q 0 0 0 rg BT 406.52 151.80 Td (e-valuation r) Tj ET Q q 0 0 0 rg BT 452.92 151.80 Td (elated to the Japan fixed annuity ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 141.00 Td (pr) Tj ET Q q 0 0 0 rg BT 57.17 141.00 Td (oduct of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 88.66 141.00 Td ($324) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 106.66 141.00 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 111.16 141.00 Td ($245) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 129.16 141.00 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 149.41 141.00 Td ($\(129\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 173.41 141.00 Td ( , r) Tj ET Q q 0 0 0 rg BT 183.33 141.00 Td (espectively) Tj ET Q q 0 0 0 rg BT 222.30 141.00 Td (, as well as the change in value r) Tj ET Q q 0 0 0 rg BT 340.20 141.00 Td (elated to the derivative hedging instruments and the Japan ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 130.20 Td (government FV) Tj ET Q q 0 0 0 rg BT 104.96 130.20 Td (O securities of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 159.71 130.20 Td ($\(318\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 183.70 130.20 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 188.20 130.20 Td ($\(281\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 212.19 130.20 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 232.44 130.20 Td ($132) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 250.44 130.20 Td (, r) Tj ET Q q 0 0 0 rg BT 258.11 130.20 Td (espectively) Tj ET Q q 0 0 0 rg BT 297.09 130.20 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 119.40 Td ([4] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 119.40 Td (Includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 82.24 119.40 Td ($\(57\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 101.73 119.40 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 106.23 119.40 Td ($\(72\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 125.73 119.40 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 145.98 119.40 Td ($0) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 154.98 119.40 Td ( of transactional for) Tj ET Q q 0 0 0 rg BT 226.90 119.40 Td (eign curr) Tj ET Q q 0 0 0 rg BT 259.81 119.40 Td (ency r) Tj ET Q q 0 0 0 rg BT 281.71 119.40 Td (e-valuation for the years ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 396.43 119.40 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 467.16 119.40 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 471.66 119.40 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 489.66 119.40 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 509.91 119.40 Td (201) Tj ET Q q 0 0 0 rg BT 522.74 119.40 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 527.24 119.40 Td (, r) Tj ET Q q 0 0 0 rg BT 534.91 119.40 Td (espectively) Tj ET Q q 0 0 0 rg BT 573.89 119.40 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 108.60 Td ([5] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 108.60 Td (For the years ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 123.98 108.60 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 194.71 108.60 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 199.21 108.60 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 217.21 108.60 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 237.46 108.60 Td (201) Tj ET Q q 0 0 0 rg BT 250.29 108.60 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 254.79 108.60 Td (, other) Tj ET Q q 0 0 0 rg BT 277.29 108.60 Td (, net gains and losses includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 388.53 108.60 Td ($240) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 406.53 108.60 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 411.03 108.60 Td ($273) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 429.03 108.60 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 447.03 108.60 Td (\($129\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 471.03 108.60 Td (, r) Tj ET Q q 0 0 0 rg BT 478.70 108.60 Td (espectively) Tj ET Q q 0 0 0 rg BT 517.67 108.60 Td (, of transactional ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 97.80 Td (for) Tj ET Q q 0 0 0 rg BT 59.67 97.80 Td (eign curr) Tj ET Q q 0 0 0 rg BT 92.58 97.80 Td (ency r) Tj ET Q q 0 0 0 rg BT 114.48 97.80 Td (e-valuation associated with the internal r) Tj ET Q q 0 0 0 rg BT 262.88 97.80 Td (einsurance of the Japan GMIB variable annuity business, which is offset in ) Tj ET Q q 0 0 0 rg BT 535.43 97.80 Td (AOCI. ) Tj ET Q q 0 0 0 rg BT 563.01 97.80 Td (Also ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 87.00 Td (includes for the years ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 153.22 87.00 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 223.95 87.00 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 228.45 87.00 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 246.45 87.00 Td (, and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 266.70 87.00 Td (201) Tj ET Q q 0 0 0 rg BT 279.54 87.00 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 284.04 87.00 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 288.54 87.00 Td ($248) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 306.54 87.00 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 311.04 87.00 Td ($167) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 329.04 87.00 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 347.04 87.00 Td (\($101\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 371.03 87.00 Td (, r) Tj ET Q q 0 0 0 rg BT 378.70 87.00 Td (espectively) Tj ET Q q 0 0 0 rg BT 417.67 87.00 Td (, of other transactional for) Tj ET Q q 0 0 0 rg BT 515.34 87.00 Td (eign curr) Tj ET Q q 0 0 0 rg BT 548.25 87.00 Td (ency r) Tj ET Q q 0 0 0 rg BT 570.16 87.00 Td (e-) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 76.20 Td (valuation, primarily associated with the internal r) Tj ET Q q 0 0 0 rg BT 229.41 76.20 Td (einsurance of the Japan 3 wins variable annuity business, of which a portion is offset within ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 65.40 Td (r) Tj ET Q q 0 0 0 rg BT 52.67 65.40 Td (ealized gains and losses by the change in value of the associated hedging derivatives. ) Tj ET Q q 0 0 0 rg BT 364.94 65.40 Td (Also includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 415.44 65.40 Td ($71) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 428.94 65.40 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 446.94 65.40 Td ($1) Tj ET Q q 0 0 0 rg BT 455.27 65.40 Td (10) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 464.27 65.40 Td ( of gains r) Tj ET Q q 0 0 0 rg BT 500.69 65.40 Td (elating to the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 54.60 Td (Retir) Tj ET Q q 0 0 0 rg BT 67.16 54.60 Td (ement Plans and Individual Life businesses sold for the years ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 313.88 54.60 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 384.61 54.60 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 402.61 54.60 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 420.61 54.60 Td (, r) Tj ET Q q 0 0 0 rg BT 428.28 54.60 Td (espectively) Tj ET Q q 0 0 0 rg BT 467.25 54.60 Td (, as well as changes in value of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 43.80 Td (non-qualifying derivatives.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 365 0 obj <> endobj 366 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.20 Td (Net realized capital gains and losses from investment sales are reported as a component of revenues and are determined on a specific ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.20 Td (identification basis. Gross gains and losses on sales and impairments previously reported as unrealized gains or \(losses\) in ) Tj ET Q q 0 0 0 rg BT 524.18 665.20 Td (AOCI were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.20 Td ($1.6 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.61 653.20 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.61 653.20 Td ($32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 97.61 653.20 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 117.05 653.20 Td ($129) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 137.05 653.20 Td ( for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 218.40 653.20 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.99 653.20 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.99 653.20 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.99 653.20 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.43 653.20 Td (201) Tj ET Q q 0 0 0 rg BT 356.06 653.20 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.06 653.20 Td (, respectively) Tj ET Q q 0 0 0 rg BT 413.72 653.20 Td (. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 635.20 Td (Sales ) Tj ET Q q 0 0 0 rg BT 55.67 635.20 Td (of ) Tj ET Q q 0 0 0 rg BT 65.95 635.20 Td (A) Tj ET Q q 0 0 0 rg BT 72.43 635.20 Td (vailable-for) Tj ET Q q 0 0 0 rg BT 121.49 635.20 Td (-Sale ) Tj ET Q q 0 0 0 rg BT 145.10 635.20 Td (Securities) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 594.70 348.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 594.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 594.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 594.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 564.70 348.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 564.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 564.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 564.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 534.70 348.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 534.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 534.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 534.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 504.70 348.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 380.00 504.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 504.70 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 504.70 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 607.7 m 445 607.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 607.7 m 510 607.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 607.7 m 575 607.7 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 594.7 m 380 594.7 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380 607.7 m 445 607.7 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 380 594.7 m 445 594.7 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445 607.7 m 510 607.7 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445 594.7 m 510 594.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 607.7 m 575 607.7 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 510 594.7 m 575 594.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 474.7 m 380 474.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 380 474.7 m 445 474.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 445 474.7 m 510 474.7 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 474.7 m 575 474.7 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.65 610.15 Td (For the years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 598.27 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 401.85 599.10 Td ( 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.85 599.10 Td ( 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.20 599.10 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 584.37 Td (Fixed maturities, AFS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.50 584.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 584.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.50 584.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 569.37 Td (Sale proceeds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.50 569.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.65 569.37 Td (39,225) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 569.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.65 569.37 Td (41,442) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.50 569.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.65 569.37 Td (36,956) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 554.37 Td (Gross gains [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.65 554.37 Td (2,214) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 554.37 Td (845) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 554.37 Td (617) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 539.37 Td (Gross losses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.80 539.42 Td (\(669) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 539.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 539.42 Td (\(416) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 539.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.80 539.37 Td (\(381) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.15 539.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 524.37 Td (Equity securities, AFS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 524.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 509.37 Td (Sale proceeds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.50 509.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.15 509.37 Td (274) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.50 509.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 509.37 Td (295) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.50 509.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 509.37 Td (239) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 494.37 Td (Gross gains) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 494.37 Td (96) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 494.37 Td (34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 494.37 Td (59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 479.37 Td (Gross losses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.80 479.42 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 479.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.80 479.42 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 479.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 479.37 Td () Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 458.40 Td ([1] ) Tj ET Q q 0 0 0 rg BT 45.25 458.40 Td (Includes ) Tj ET Q q 0 0 0 rg BT 77.99 458.40 Td ($1.5 ) Tj ET Q q 0 0 0 rg BT 95.99 458.40 Td (billion ) Tj ET Q q 0 0 0 rg BT 121.75 458.40 Td (of ) Tj ET Q q 0 0 0 rg BT 131.00 458.40 Td (gr) Tj ET Q q 0 0 0 rg BT 138.67 458.40 Td (oss ) Tj ET Q q 0 0 0 rg BT 152.42 458.40 Td (gains ) Tj ET Q q 0 0 0 rg BT 174.17 458.40 Td (r) Tj ET Q q 0 0 0 rg BT 177.34 458.40 Td (elated ) Tj ET Q q 0 0 0 rg BT 201.58 458.40 Td (to ) Tj ET Q q 0 0 0 rg BT 210.83 458.40 Td (the ) Tj ET Q q 0 0 0 rg BT 224.08 458.40 Td (sale ) Tj ET Q q 0 0 0 rg BT 240.82 458.40 Td (of ) Tj ET Q q 0 0 0 rg BT 250.08 458.40 Td (the ) Tj ET Q q 0 0 0 rg BT 263.32 458.40 Td (Individual ) Tj ET Q q 0 0 0 rg BT 302.56 458.40 Td (Life ) Tj ET Q q 0 0 0 rg BT 318.81 458.40 Td (and ) Tj ET Q q 0 0 0 rg BT 334.56 458.40 Td (Retir) Tj ET Q q 0 0 0 rg BT 352.23 458.40 Td (ement ) Tj ET Q q 0 0 0 rg BT 375.97 458.40 Td (Plans ) Tj ET Q q 0 0 0 rg BT 398.72 458.40 Td (businesses ) Tj ET Q q 0 0 0 rg BT 438.97 458.40 Td (for ) Tj ET Q q 0 0 0 rg BT 451.72 458.40 Td (the ) Tj ET Q q 0 0 0 rg BT 464.96 458.40 Td (year ) Tj ET Q q 0 0 0 rg BT 483.21 458.40 Td (ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 506.94 458.40 Td (December31, ) Tj ET Q q 0 0 0 rg BT 559.67 458.40 Td (2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 577.67 458.40 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 440.40 Td (Sales ) Tj ET Q q 0 0 0 rg BT 55.88 440.40 Td (of ) Tj ET Q q 0 0 0 rg BT 66.77 440.40 Td (AFS ) Tj ET Q q 0 0 0 rg BT 88.39 440.40 Td (securities ) Tj ET Q q 0 0 0 rg BT 129.43 440.40 Td (in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 140.48 440.40 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 160.48 440.40 Td ( ) Tj ET Q q 0 0 0 rg BT 163.76 440.40 Td (were ) Tj ET Q q 0 0 0 rg BT 186.47 440.40 Td (primarily ) Tj ET Q q 0 0 0 rg BT 226.95 440.40 Td (as ) Tj ET Q q 0 0 0 rg BT 238.56 440.40 Td (a ) Tj ET Q q 0 0 0 rg BT 246.27 440.40 Td (result ) Tj ET Q q 0 0 0 rg BT 271.77 440.40 Td (of ) Tj ET Q q 0 0 0 rg BT 283.37 440.40 Td (management ) Tj ET Q q 0 0 0 rg BT 337.74 440.40 Td (of ) Tj ET Q q 0 0 0 rg BT 349.35 440.40 Td (duration ) Tj ET Q q 0 0 0 rg BT 385.95 440.40 Td (and ) Tj ET Q q 0 0 0 rg BT 403.66 440.40 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 440.83 440.40 Td (as ) Tj ET Q q 0 0 0 rg BT 452.44 440.40 Td (well ) Tj ET Q q 0 0 0 rg BT 472.93 440.40 Td (as ) Tj ET Q q 0 0 0 rg BT 484.54 440.40 Td (progress ) Tj ET Q q 0 0 0 rg BT 521.69 440.40 Td (towards ) Tj ET Q q 0 0 0 rg BT 556.63 440.40 Td (sector ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 428.40 Td (allocation ) Tj ET Q q 0 0 0 rg BT 73.43 428.40 Td (objectives.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 410.40 Td (Other) Tj ET Q q 0 0 0 rg BT 56.68 410.40 Td (-Than-T) Tj ET Q q 0 0 0 rg BT 91.88 410.40 Td (emporary ) Tj ET Q q 0 0 0 rg BT 136.59 410.40 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 190.75 410.40 Td (Losses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 392.40 Td (The ) Tj ET Q q 0 0 0 rg BT 49.87 392.40 Td (following ) Tj ET Q q 0 0 0 rg BT 91.58 392.40 Td (table ) Tj ET Q q 0 0 0 rg BT 113.84 392.40 Td (presents ) Tj ET Q q 0 0 0 rg BT 149.43 392.40 Td (a ) Tj ET Q q 0 0 0 rg BT 156.70 392.40 Td (roll-forward ) Tj ET Q q 0 0 0 rg BT 208.39 392.40 Td (of ) Tj ET Q q 0 0 0 rg BT 219.54 392.40 Td (the ) Tj ET Q q 0 0 0 rg BT 234.59 392.40 Td (Company) Tj ET Q q 0 0 0 rg BT 276.25 392.40 Td (s ) Tj ET Q q 0 0 0 rg BT 282.97 392.40 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 330.22 392.40 Td (credit ) Tj ET Q q 0 0 0 rg BT 355.81 392.40 Td (impairments ) Tj ET Q q 0 0 0 rg BT 408.62 392.40 Td (on ) Tj ET Q q 0 0 0 rg BT 421.45 392.40 Td (debt ) Tj ET Q q 0 0 0 rg BT 441.49 392.40 Td (securities ) Tj ET Q q 0 0 0 rg BT 482.08 392.40 Td (held ) Tj ET Q q 0 0 0 rg BT 502.12 392.40 Td (as ) Tj ET Q q 0 0 0 rg BT 513.27 392.40 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.43 392.40 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 380.40 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 380.40 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.50 380.40 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 380.40 Td ( ) Tj ET Q q 0 0 0 rg BT 79.00 380.40 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.94 380.40 Td (201) Tj ET Q q 0 0 0 rg BT 110.57 380.40 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.57 380.40 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 340.90 350.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 340.90 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 340.90 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 340.90 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 310.90 350.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 310.90 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 310.90 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 310.90 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 280.90 350.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 280.90 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 280.90 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 280.90 65.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 250.90 350.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 250.90 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 250.90 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 250.90 65.00 -25.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 210.90 350.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 210.90 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 447.00 210.90 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.00 210.90 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 352.9 m 447 352.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 352.9 m 512 352.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 352.9 m 577 352.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382 352.9 m 447 352.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382 340.9 m 447 340.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 447 352.9 m 512 352.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 447 340.9 m 512 340.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512 352.9 m 577 352.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512 340.9 m 577 340.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 340.9 m 382 340.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512 340.9 m 577 340.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 210.89999999999998 m 382 210.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 197.89999999999998 m 382 197.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382 210.89999999999998 m 447 210.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 197.89999999999998 m 447 197.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 447 210.89999999999998 m 512 210.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 447 197.89999999999998 m 512 197.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 512 210.89999999999998 m 577 210.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 197.89999999999998 m 577 197.89999999999998 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 413.65 355.35 Td (For the years ended December 31,) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.50 343.63 Td (\(Before-tax\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 403.85 344.30 Td ( 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 468.85 344.30 Td ( 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.20 344.30 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 330.57 Td (Balance as of beginning of period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.50 330.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.30 330.62 Td (\(1,013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 330.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.50 330.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.30 330.62 Td (\(1,676) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 330.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.50 330.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.30 330.57 Td (\(2,072) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 573.15 330.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 315.57 Td (Additions for credit impairments recognized on [1]:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 300.57 Td (Securities not previously impaired) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.80 300.62 Td (\(19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 300.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.80 300.62 Td (\(28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 300.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.80 300.57 Td (\(56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 573.15 300.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 285.57 Td (Securities previously impaired) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.80 285.62 Td (\(13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 285.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.80 285.62 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 285.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.80 285.57 Td (\(69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 573.15 285.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 270.57 Td (Reductions for credit impairments previously recognized on:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 255.57 Td (Securities that matured or were sold during the period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.15 255.57 Td (469) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.15 255.57 Td (700) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 255.57 Td (505) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 240.57 Td (Securities the Company made the decision to sell or more likely than not will be) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 230.57 Td (required to sell) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 230.57 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 230.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.15 230.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 215.57 Td (Securities due to an increase in expected cash flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 215.57 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 215.57 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.15 215.57 Td (16) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 201.63 Td (Balance as of end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.50 201.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 424.80 201.68 Td (\(552) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 443.15 201.63 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 449.50 201.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.30 201.68 Td (\(1,013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 508.15 201.63 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.50 201.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 547.30 201.63 Td (\(1,676) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 573.15 201.63 Td (\)) Tj 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633.09 Td (Losses) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 513.75 641.59 Td (Fair) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 511.25 633.09 Td (V) Tj ET Q q 0 0 0 rg BT 516.61 633.09 Td (alue) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 552.00 657.49 Td (Non-) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 549.25 648.99 Td (Cr) Tj ET Q q 0 0 0 rg BT 559.01 648.99 Td (edit) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 550.35 640.49 Td (OTTI ) Tj ET Q BT /F3 8.50 Tf ET q 0 0 0 rg BT 556.00 631.99 Td ([1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 618.42 Td (ABS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.50 618.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.65 618.42 Td (2,404) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.50 618.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.15 618.42 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.50 618.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.80 618.47 Td (\(64) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 618.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.50 618.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.60 618.42 Td (2,365) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.50 618.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.80 618.47 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.15 618.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.50 618.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.65 618.42 Td (2,883) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.50 618.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 618.42 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.50 618.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.80 618.47 Td (\(183) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 618.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.50 618.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.60 618.42 Td (2,763) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 618.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 618.42 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 618.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 603.42 Td (CDOs [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.65 603.42 Td (2,340) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.15 603.42 Td (108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.80 603.47 Td (\(59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 603.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.60 603.42 Td (2,387) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.10 603.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.65 603.42 Td (3,170) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 603.42 Td (60) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.80 603.47 Td (\(159) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 603.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.60 603.42 Td (3,040) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 603.42 Td (\(14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 603.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 588.42 Td (CMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.65 588.42 Td (4,288) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.15 588.42 Td (216) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.80 588.47 Td (\(58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 588.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.60 588.42 Td (4,446) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.80 588.47 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.15 588.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.65 588.42 Td (6,083) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 588.42 Td (417) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.80 588.47 Td (\(179) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 588.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.60 588.42 Td (6,321) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 588.42 Td (\(11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 588.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 573.42 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.60 573.42 Td (27,013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.65 573.42 Td (1,823) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.80 573.47 Td (\(346) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 573.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.60 573.42 Td (28,490) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.80 573.47 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.15 573.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.60 573.42 Td (39,694) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.65 573.42 Td (4,631) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.80 573.47 Td (\(276) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 573.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.60 573.42 Td (44,049) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 573.42 Td (\(19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 573.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 558.42 Td (Foreign govt./govt. agencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.65 558.42 Td (4,228) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.15 558.42 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.80 558.47 Td (\(176) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 558.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.60 558.42 Td (4,104) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.10 558.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.65 558.42 Td (3,985) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 558.42 Td (191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.80 558.47 Td (\(40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 558.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.60 558.42 Td (4,136) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 558.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 543.42 Td (Municipal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.60 543.42 Td (11,932) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.15 543.42 Td (425) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.80 543.47 Td (\(184) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 543.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.60 543.42 Td (12,173) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.10 543.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.60 543.42 Td (13,001) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.65 543.42 Td (1,379) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.80 543.47 Td (\(19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 543.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.60 543.42 Td (14,361) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 543.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 528.42 Td (RMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.65 528.42 Td (4,639) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.15 528.42 Td (90) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.80 528.47 Td (\(82) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 528.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.60 528.42 Td (4,647) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.80 528.47 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.15 528.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.65 528.42 Td (7,318) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 528.42 Td (295) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.80 528.47 Td (\(133) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 528.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.60 528.42 Td (7,480) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 528.42 Td (\(32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 528.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 513.42 Td (U.S. Treasuries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.65 513.42 Td (3,797) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.15 513.42 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.80 513.47 Td (\(59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 513.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 307.60 513.42 Td (3,745) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.10 513.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.65 513.42 Td (3,613) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 513.42 Td (175) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.80 513.47 Td (\(16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 513.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.60 513.42 Td (3,772) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 513.42 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 499.43 Td (Total fixed maturities, AFS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 167.60 499.43 Td (60,641) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 219.65 499.43 Td (2,746) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.30 499.48 Td (\(1,028) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 289.15 499.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 302.60 499.43 Td (62,357) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 347.80 499.48 Td (\(19) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 361.15 499.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.60 499.43 Td (79,747) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.65 499.43 Td (7,211) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.30 499.48 Td (\(1,005) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.15 499.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 510.60 499.43 Td (85,922) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 563.80 499.43 Td (\(80) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 499.43 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 484.42 Td (Equity securities, AFS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.15 484.42 Td (850) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.15 484.42 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.80 484.47 Td (\(49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 484.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.15 484.42 Td (868) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.10 484.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.15 484.42 Td (866) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 484.42 Td (81) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.80 484.47 Td (\(57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 484.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.15 484.42 Td (890) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 484.42 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 466.43 Td (Total AFS securities [3]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 156.50 466.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 167.60 466.43 Td (61,491) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 201.50 466.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 219.65 466.43 Td (2,813) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.50 466.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.30 466.48 Td (\(1,077) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 289.15 466.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.50 466.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 302.60 466.43 Td (63,225) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 336.50 466.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 347.80 466.48 Td (\(19) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 361.15 466.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.50 466.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.60 466.43 Td (80,613) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.50 466.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.65 466.43 Td (7,292) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.50 466.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.30 466.48 Td (\(1,062) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.15 466.43 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.50 466.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 510.60 466.43 Td (86,812) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.50 466.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 563.80 466.43 Td (\(80) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 466.43 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 445.45 Td ([1] Repr) Tj ET Q q 0 0 0 rg BT 62.42 445.45 Td (esents the amount of cumulative non-cr) Tj ET Q q 0 0 0 rg BT 203.80 445.45 Td (edit OTTI losses r) Tj ET Q q 0 0 0 rg BT 268.22 445.45 Td (ecognized in OCI on securities that also had cr) Tj ET Q q 0 0 0 rg BT 437.87 445.45 Td (edit impairments. These losses ar) Tj ET Q q 0 0 0 rg BT 557.78 445.45 Td (e ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 434.65 Td (included in gr) Tj ET Q q 0 0 0 rg BT 99.66 434.65 Td (oss unr) Tj ET Q q 0 0 0 rg BT 125.58 434.65 Td (ealized losses as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 196.58 434.65 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 267.31 434.65 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 285.31 434.65 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 303.31 434.65 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 423.85 Td ([2] Gr) Tj ET Q q 0 0 0 rg BT 54.92 423.85 Td (oss unr) Tj ET Q q 0 0 0 rg BT 80.85 423.85 Td (ealized gains \(losses\)exclude the fair value of bifur) Tj ET Q q 0 0 0 rg BT 266.48 423.85 Td (cated embedded derivative featur) Tj ET Q q 0 0 0 rg BT 386.35 423.85 Td (es of certain securities. Subsequent changes in value ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 413.05 Td (will be r) Tj ET Q q 0 0 0 rg BT 79.17 413.05 Td (ecor) Tj ET Q q 0 0 0 rg BT 94.83 413.05 Td (ded in net r) Tj ET Q q 0 0 0 rg BT 135.73 413.05 Td (ealized capital gains \(losses\).) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 402.25 Td ([3] ) Tj ET Q q 0 0 0 rg BT 45.09 402.25 Td (As of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 65.59 402.25 Td (December31, 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 136.32 402.25 Td (, includes fixed maturities, ) Tj ET Q q 0 0 0 rg BT 233.64 402.25 Td (AFS and equity securities, ) Tj ET Q q 0 0 0 rg BT 330.21 402.25 Td (AFS r) Tj ET Q q 0 0 0 rg BT 351.12 402.25 Td (elating to the sales of the Retir) Tj ET Q q 0 0 0 rg BT 461.27 402.25 Td (ement Plans and Individual Life ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 390.25 Td (businesses; see Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 125.74 390.25 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.24 390.25 Td ( - ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 138.57 390.25 Td (Business Dispositions of the Notes to Consolidated Financial Statements for further discussion of these transactions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 367.45 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 367.45 Td (following ) Tj ET Q q 0 0 0 rg BT 90.93 367.45 Td (table ) Tj ET Q q 0 0 0 rg BT 112.87 367.45 Td (presents ) Tj ET Q q 0 0 0 rg BT 148.14 367.45 Td (the ) Tj ET Q q 0 0 0 rg BT 162.85 367.45 Td (Company) Tj ET Q q 0 0 0 rg BT 204.52 367.45 Td (s ) Tj ET Q q 0 0 0 rg BT 210.91 367.45 Td (fixed ) Tj ET Q q 0 0 0 rg BT 233.96 367.45 Td (maturities, ) Tj ET Q q 0 0 0 rg BT 278.39 367.45 Td (AFS, ) Tj ET Q q 0 0 0 rg BT 301.74 367.45 Td (by ) Tj ET Q q 0 0 0 rg BT 314.24 367.45 Td (contractual ) Tj ET Q q 0 0 0 rg BT 361.16 367.45 Td (maturity ) Tj ET Q q 0 0 0 rg BT 397.54 367.45 Td (year) Tj ET Q q 0 0 0 rg BT 414.20 367.45 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 324.95 365.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 324.95 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 324.95 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 296.95 365.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 296.95 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 296.95 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 268.95 365.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 268.95 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 268.95 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 240.95 365.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 397.00 240.95 92.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 489.00 240.95 92.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 338.95000000000005 m 489 338.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 338.95000000000005 m 581 338.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 324.95000000000005 m 397 324.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 338.95000000000005 m 489 338.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 324.95000000000005 m 489 324.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 338.95000000000005 m 581 338.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 324.95000000000005 m 581 324.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 324.95000000000005 m 397 324.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 268.95000000000005 m 397 268.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 268.95000000000005 m 489 268.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 268.95000000000005 m 581 268.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 240.95000000000005 m 397 240.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 227.95000000000005 m 397 227.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 397 240.95000000000005 m 489 240.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 397 227.95000000000005 m 489 227.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 489 240.95000000000005 m 581 240.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489 227.95000000000005 m 581 227.95000000000005 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 452.20 342.35 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 329.40 Td (Contractual Maturity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 412.10 329.40 Td (Amortized Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 514.45 329.40 Td (Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 315.52 Td (One year or less) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.50 315.52 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.65 315.52 Td (2,195) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.50 315.52 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 315.52 Td (2,228) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 301.52 Td (Over one year through five years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.65 301.52 Td (11,930) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 301.52 Td (12,470) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 287.52 Td (Over five years through ten years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.65 287.52 Td (10,814) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 287.52 Td (11,183) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 273.52 Td (Over ten years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.65 273.52 Td (22,031) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 273.52 Td (22,631) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 259.52 Td (Subtotal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.65 259.52 Td (46,970) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 259.52 Td (48,512) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 245.52 Td (Mortgage-backed and asset-backed securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.65 245.52 Td (13,671) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 245.52 Td (13,845) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 231.68 Td (Total fixed maturities, AFS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.50 231.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.65 231.68 Td (60,641) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 491.50 231.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.65 231.68 Td (62,357) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 210.45 Td (Estimated ) Tj ET Q q 0 0 0 rg BT 73.25 210.45 Td (maturities ) Tj ET Q q 0 0 0 rg BT 115.01 210.45 Td (may ) Tj ET Q q 0 0 0 rg BT 133.99 210.45 Td (dif) Tj ET Q q 0 0 0 rg BT 144.92 210.45 Td (fer ) Tj ET Q q 0 0 0 rg BT 157.78 210.45 Td (from ) Tj ET Q q 0 0 0 rg BT 178.98 210.45 Td (contractual ) Tj ET Q q 0 0 0 rg BT 225.17 210.45 Td (maturities ) Tj ET Q q 0 0 0 rg BT 266.92 210.45 Td (due ) Tj ET Q q 0 0 0 rg BT 283.12 210.45 Td (to ) Tj ET Q q 0 0 0 rg BT 292.67 210.45 Td (security ) Tj ET Q q 0 0 0 rg BT 326.08 210.45 Td (call ) Tj ET Q q 0 0 0 rg BT 342.28 210.45 Td (or ) Tj ET Q q 0 0 0 rg BT 352.38 210.45 Td (prepayment ) Tj ET Q q 0 0 0 rg BT 401.34 210.45 Td (provisions. ) Tj ET Q q 0 0 0 rg BT 447.28 210.45 Td (Due ) Tj ET Q q 0 0 0 rg BT 465.70 210.45 Td (to ) Tj ET Q q 0 0 0 rg BT 475.24 210.45 Td (the ) Tj ET Q q 0 0 0 rg BT 489.23 210.45 Td (potential ) Tj ET Q q 0 0 0 rg BT 525.98 210.45 Td (for ) Tj ET Q q 0 0 0 rg BT 539.40 210.45 Td (variability ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 198.45 Td (in ) Tj ET Q q 0 0 0 rg BT 42.99 198.45 Td (payment ) Tj ET Q q 0 0 0 rg BT 81.13 198.45 Td (spreads ) Tj ET Q q 0 0 0 rg BT 114.82 198.45 Td (\(i.e. ) Tj ET Q q 0 0 0 rg BT 134.08 198.45 Td (prepayments ) Tj ET Q q 0 0 0 rg BT 188.88 198.45 Td (or ) Tj ET Q q 0 0 0 rg BT 200.92 198.45 Td (extensions\), ) Tj ET Q q 0 0 0 rg BT 252.67 198.45 Td (mortgage-backed ) Tj ET Q q 0 0 0 rg BT 325.79 198.45 Td (and ) Tj ET Q q 0 0 0 rg BT 343.94 198.45 Td (asset-backed ) Tj ET Q q 0 0 0 rg BT 398.73 198.45 Td (securities ) Tj ET Q q 0 0 0 rg BT 440.20 198.45 Td (are ) Tj ET Q q 0 0 0 rg BT 456.11 198.45 Td (not ) Tj ET Q q 0 0 0 rg BT 472.60 198.45 Td (categorized ) Tj ET Q q 0 0 0 rg BT 522.38 198.45 Td (by ) Tj ET Q q 0 0 0 rg BT 536.09 198.45 Td (contractual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 186.45 Td (maturity) Tj ET Q q 0 0 0 rg BT 64.73 186.45 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 168.45 Td (Concentration ) Tj ET Q q 0 0 0 rg BT 95.66 168.45 Td (of ) Tj ET Q q 0 0 0 rg BT 106.49 168.45 Td (Cr) Tj ET Q q 0 0 0 rg BT 117.97 168.45 Td (edit ) Tj ET Q q 0 0 0 rg BT 136.58 168.45 Td (Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 150.45 Td (The ) Tj ET Q q 0 0 0 rg BT 49.54 150.45 Td (Company ) Tj ET Q q 0 0 0 rg BT 90.91 150.45 Td (aims ) Tj ET Q q 0 0 0 rg BT 112.29 150.45 Td (to ) Tj ET Q q 0 0 0 rg BT 122.56 150.45 Td (maintain ) Tj ET Q q 0 0 0 rg BT 160.04 150.45 Td (a ) Tj ET Q q 0 0 0 rg BT 166.97 150.45 Td (diversified ) Tj ET Q q 0 0 0 rg BT 212.22 150.45 Td (investment ) Tj ET Q q 0 0 0 rg BT 258.59 150.45 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 296.08 150.45 Td (including ) Tj ET Q q 0 0 0 rg BT 336.34 150.45 Td (issuer) Tj ET Q q 0 0 0 rg BT 359.27 150.45 Td (, ) Tj ET Q q 0 0 0 rg BT 364.26 150.45 Td (sector ) Tj ET Q q 0 0 0 rg BT 390.63 150.45 Td (and ) Tj ET Q q 0 0 0 rg BT 407.56 150.45 Td (geographic ) Tj ET Q q 0 0 0 rg BT 454.47 150.45 Td (stratification, ) Tj ET Q q 0 0 0 rg BT 510.00 150.45 Td (where ) Tj ET Q q 0 0 0 rg BT 536.92 150.45 Td (applicable, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 138.45 Td (and ) Tj ET Q q 0 0 0 rg BT 48.44 138.45 Td (has ) Tj ET Q q 0 0 0 rg BT 64.27 138.45 Td (established ) Tj ET Q q 0 0 0 rg BT 111.20 138.45 Td (certain ) Tj ET Q q 0 0 0 rg BT 140.90 138.45 Td (exposure ) Tj ET Q q 0 0 0 rg BT 179.50 138.45 Td (limits, ) Tj ET Q q 0 0 0 rg BT 207.29 138.45 Td (diversification ) Tj ET Q q 0 0 0 rg BT 267.54 138.45 Td (standards ) Tj ET Q q 0 0 0 rg BT 307.81 138.45 Td (and ) Tj ET Q q 0 0 0 rg BT 324.75 138.45 Td (review ) Tj ET Q q 0 0 0 rg BT 354.46 138.45 Td (procedures ) Tj ET Q q 0 0 0 rg BT 400.83 138.45 Td (to ) Tj ET Q q 0 0 0 rg BT 411.10 138.45 Td (mitigate ) Tj ET Q q 0 0 0 rg BT 446.37 138.45 Td (credit ) Tj ET Q q 0 0 0 rg BT 471.64 138.45 Td (risk.) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 369 0 obj <> endobj 370 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.70 713.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 96.93 713.10 Td (only ) Tj ET Q q 0 0 0 rg BT 117.36 713.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 156.11 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 166.53 713.10 Td (any ) Tj ET Q q 0 0 0 rg BT 183.62 713.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 209.04 713.10 Td (concentration ) Tj ET Q q 0 0 0 rg BT 266.11 713.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 283.76 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 294.74 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 301.83 713.10 Td (single ) Tj ET Q q 0 0 0 rg BT 328.36 713.10 Td (issuer ) Tj ET Q q 0 0 0 rg BT 354.34 713.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 384.75 713.10 Td (than ) Tj ET Q q 0 0 0 rg BT 404.62 713.10 Td (10% ) Tj ET Q q 0 0 0 rg BT 425.60 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 436.58 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 451.44 713.10 Td (Company's ) Tj ET Q q 0 0 0 rg BT 498.67 713.10 Td (stockholders' ) Tj ET Q q 0 0 0 rg BT 553.67 713.10 Td (equity) Tj ET Q q 0 0 0 rg BT 578.02 713.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (other ) Tj ET Q q 0 0 0 rg BT 54.77 701.10 Td (than ) Tj ET Q q 0 0 0 rg BT 74.70 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 89.64 701.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 110.14 701.10 Td (government ) Tj ET Q q 0 0 0 rg BT 160.62 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 177.78 701.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 207.70 701.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 228.20 701.10 Td (government ) Tj ET Q q 0 0 0 rg BT 278.68 701.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 321.67 701.10 Td (was ) Tj ET Q q 0 0 0 rg BT 339.94 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 354.87 701.10 Td (Government ) Tj ET Q q 0 0 0 rg BT 407.58 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 418.63 701.10 Td (Japan, ) Tj ET Q q 0 0 0 rg BT 446.61 701.10 Td (which ) Tj ET Q q 0 0 0 rg BT 473.77 701.10 Td (represents ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.03 701.10 Td ($2.6 ) Tj ET Q q 0 0 0 rg BT 537.24 701.10 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.36 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 566.08 701.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td ($2.7 ) Tj ET Q q 0 0 0 rg BT 50.57 689.10 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.69 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 78.26 689.10 Td (, ) Tj ET Q q 0 0 0 rg BT 82.34 689.10 Td (or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.24 689.10 Td (14%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.57 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 112.15 689.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 128.16 689.10 Td (12%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 146.49 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 148.06 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 157.97 689.10 Td (stockholders' ) Tj ET Q q 0 0 0 rg BT 211.89 689.10 Td (equity) Tj ET Q q 0 0 0 rg BT 236.24 689.10 Td (, ) Tj ET Q q 0 0 0 rg BT 240.31 689.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.33 689.10 Td (3%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.66 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 271.23 689.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.24 689.10 Td (2%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.57 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 302.15 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 312.05 689.10 Td (total ) Tj ET Q q 0 0 0 rg BT 331.40 689.10 Td (invested ) Tj ET Q q 0 0 0 rg BT 366.30 689.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 391.21 689.10 Td (as ) Tj ET Q q 0 0 0 rg BT 401.11 689.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.02 689.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 468.68 689.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.68 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 490.25 689.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.26 689.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.26 689.10 Td (, ) Tj ET Q q 0 0 0 rg BT 530.34 689.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 578.00 689.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (As ) Tj ET Q q 0 0 0 rg BT 45.35 677.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.42 677.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 115.25 677.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.25 677.10 Td (, ) Tj ET Q q 0 0 0 rg BT 140.49 677.10 Td (other ) Tj ET Q q 0 0 0 rg BT 163.78 677.10 Td (than ) Tj ET Q q 0 0 0 rg BT 183.74 677.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 204.26 677.10 Td (government ) Tj ET Q q 0 0 0 rg BT 254.76 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 271.94 677.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 301.89 677.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 322.41 677.10 Td (government ) Tj ET Q q 0 0 0 rg BT 372.91 677.10 Td (agencies, ) Tj ET Q q 0 0 0 rg BT 412.58 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 427.54 677.10 Td (Company) Tj ET Q q 0 0 0 rg BT 469.20 677.10 Td (s ) Tj ET Q q 0 0 0 rg BT 475.83 677.10 Td (three ) Tj ET Q q 0 0 0 rg BT 498.56 677.10 Td (lar) Tj ET Q q 0 0 0 rg BT 508.93 677.10 Td (gest ) Tj ET Q q 0 0 0 rg BT 527.77 677.10 Td (exposures ) Tj ET Q q 0 0 0 rg BT 570.51 677.10 Td (by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (issuer ) Tj ET Q q 0 0 0 rg BT 56.92 665.10 Td (were ) Tj ET Q q 0 0 0 rg BT 78.45 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 92.76 665.10 Td (Government ) Tj ET Q q 0 0 0 rg BT 144.84 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 155.26 665.10 Td (Japan, ) Tj ET Q q 0 0 0 rg BT 182.63 665.10 Td (Goldman ) Tj ET Q q 0 0 0 rg BT 221.94 665.10 Td (Sachs ) Tj ET Q q 0 0 0 rg BT 247.36 665.10 Td (Group ) Tj ET Q q 0 0 0 rg BT 275.01 665.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 294.87 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 311.41 665.10 Td (State ) Tj ET Q q 0 0 0 rg BT 333.50 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 343.92 665.10 Td (Illinois ) Tj ET Q q 0 0 0 rg BT 374.35 665.10 Td (which ) Tj ET Q q 0 0 0 rg BT 400.88 665.10 Td (each ) Tj ET Q q 0 0 0 rg BT 421.29 665.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 465.04 665.10 Td (less ) Tj ET Q q 0 0 0 rg BT 482.14 665.10 Td (than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.45 665.10 Td (4%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.78 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 516.88 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 527.30 665.10 Td (total ) Tj ET Q q 0 0 0 rg BT 547.17 665.10 Td (invested ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 58.80 653.10 Td (As ) Tj ET Q q 0 0 0 rg BT 71.80 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 82.01 653.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 139.98 653.10 Td (2012, ) Tj ET Q q 0 0 0 rg BT 164.37 653.10 Td (other ) Tj ET Q q 0 0 0 rg BT 186.80 653.10 Td (than ) Tj ET Q q 0 0 0 rg BT 205.90 653.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 225.57 653.10 Td (government ) Tj ET Q q 0 0 0 rg BT 275.21 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 291.54 653.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 320.63 653.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 340.29 653.10 Td (government ) Tj ET Q q 0 0 0 rg BT 389.94 653.10 Td (agencies, ) Tj ET Q q 0 0 0 rg BT 428.75 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 442.85 653.10 Td (Company) Tj ET Q q 0 0 0 rg BT 484.52 653.10 Td (s ) Tj ET Q q 0 0 0 rg BT 490.29 653.10 Td (three ) Tj ET Q q 0 0 0 rg BT 512.16 653.10 Td (lar) Tj ET Q q 0 0 0 rg BT 522.53 653.10 Td (gest ) Tj ET Q q 0 0 0 rg BT 540.52 653.10 Td (exposures ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (by ) Tj ET Q q 0 0 0 rg BT 43.96 641.10 Td (issuer ) Tj ET Q q 0 0 0 rg BT 69.75 641.10 Td (were ) Tj ET Q q 0 0 0 rg BT 91.64 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 106.32 641.10 Td (Government ) Tj ET Q q 0 0 0 rg BT 158.77 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 169.56 641.10 Td (Japan, ) Tj ET Q q 0 0 0 rg BT 197.29 641.10 Td (State ) Tj ET Q q 0 0 0 rg BT 219.74 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 230.53 641.10 Td (California, ) Tj ET Q q 0 0 0 rg BT 276.04 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 292.94 641.10 Td (National ) Tj ET Q q 0 0 0 rg BT 329.83 641.10 Td (Grid ) Tj ET Q q 0 0 0 rg BT 350.62 641.10 Td (PLC ) Tj ET Q q 0 0 0 rg BT 371.42 641.10 Td (which ) Tj ET Q q 0 0 0 rg BT 398.32 641.10 Td (each ) Tj ET Q q 0 0 0 rg BT 419.10 641.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 463.21 641.10 Td (less ) Tj ET Q q 0 0 0 rg BT 480.67 641.10 Td (than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.35 641.10 Td (3%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.68 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 516.14 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 526.93 641.10 Td (total ) Tj ET Q q 0 0 0 rg BT 547.17 641.10 Td (invested ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 59.15 629.10 Td (The ) Tj ET Q q 0 0 0 rg BT 76.66 629.10 Td (Company) Tj ET Q q 0 0 0 rg BT 118.33 629.10 Td (s ) Tj ET Q q 0 0 0 rg BT 124.18 629.10 Td (three ) Tj ET Q q 0 0 0 rg BT 146.13 629.10 Td (lar) Tj ET Q q 0 0 0 rg BT 156.49 629.10 Td (gest ) Tj ET Q q 0 0 0 rg BT 174.57 629.10 Td (exposures ) Tj ET Q q 0 0 0 rg BT 216.52 629.10 Td (by ) Tj ET Q q 0 0 0 rg BT 228.48 629.10 Td (sector ) Tj ET Q q 0 0 0 rg BT 254.32 629.10 Td (as ) Tj ET Q q 0 0 0 rg BT 264.61 629.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.91 629.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 332.95 629.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.95 629.10 Td ( ) Tj ET Q q 0 0 0 rg BT 354.92 629.10 Td (were ) Tj ET Q q 0 0 0 rg BT 376.31 629.10 Td (municipal ) Tj ET Q q 0 0 0 rg BT 418.26 629.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 460.49 629.10 Td (utilities, ) Tj ET Q q 0 0 0 rg BT 494.95 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 511.35 629.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 548.30 629.10 Td (services ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (which ) Tj ET Q q 0 0 0 rg BT 58.39 617.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 102.49 617.10 Td (approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 162.70 617.10 Td (15%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.03 617.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.97 617.10 Td (8%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.30 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 201.75 617.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 218.64 617.10 Td (7%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.97 617.10 Td (, ) Tj ET Q q 0 0 0 rg BT 236.92 617.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 284.58 617.10 Td (, ) Tj ET Q q 0 0 0 rg BT 289.52 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 300.30 617.10 Td (total ) Tj ET Q q 0 0 0 rg BT 320.52 617.10 Td (invested ) Tj ET Q q 0 0 0 rg BT 356.30 617.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 384.40 617.10 Td (The ) Tj ET Q q 0 0 0 rg BT 402.39 617.10 Td (Company) Tj ET Q q 0 0 0 rg BT 444.06 617.10 Td (s ) Tj ET Q q 0 0 0 rg BT 450.40 617.10 Td (three ) Tj ET Q q 0 0 0 rg BT 472.83 617.10 Td (lar) Tj ET Q q 0 0 0 rg BT 483.20 617.10 Td (gest ) Tj ET Q q 0 0 0 rg BT 501.75 617.10 Td (exposures ) Tj ET Q q 0 0 0 rg BT 544.19 617.10 Td (by ) Tj ET Q q 0 0 0 rg BT 556.64 617.10 Td (sector ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.10 Td (as ) Tj ET Q q 0 0 0 rg BT 42.72 605.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.94 605.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 112.92 605.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 132.92 605.10 Td ( ) Tj ET Q q 0 0 0 rg BT 135.81 605.10 Td (were ) Tj ET Q q 0 0 0 rg BT 158.13 605.10 Td (municipal ) Tj ET Q q 0 0 0 rg BT 201.02 605.10 Td (investments, ) Tj ET Q q 0 0 0 rg BT 254.18 605.10 Td (utilities, ) Tj ET Q q 0 0 0 rg BT 289.57 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 306.90 605.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 344.78 605.10 Td (services ) Tj ET Q q 0 0 0 rg BT 379.88 605.10 Td (which ) Tj ET Q q 0 0 0 rg BT 407.21 605.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 451.75 605.10 Td (approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.40 605.10 Td (7%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.73 605.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.13 605.10 Td (6%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.46 605.10 Td ( ) Tj ET Q q 0 0 0 rg BT 547.35 605.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.68 605.10 Td (5%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 578.01 605.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 593.10 Td (, ) Tj ET Q q 0 0 0 rg BT 84.16 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 94.99 593.10 Td (total ) Tj ET Q q 0 0 0 rg BT 115.26 593.10 Td (invested ) Tj ET Q q 0 0 0 rg BT 151.09 593.10 Td (assets.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (Security ) Tj ET Q q 0 0 0 rg BT 69.55 575.10 Td (Unr) Tj ET Q q 0 0 0 rg BT 86.59 575.10 Td (ealized ) Tj ET Q q 0 0 0 rg BT 118.52 575.10 Td (Loss ) Tj ET Q q 0 0 0 rg BT 139.92 575.10 Td (Aging) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (The ) Tj ET Q q 0 0 0 rg BT 50.40 557.10 Td (following ) Tj ET Q q 0 0 0 rg BT 92.64 557.10 Td (tables ) Tj ET Q q 0 0 0 rg BT 119.31 557.10 Td (present ) Tj ET Q q 0 0 0 rg BT 151.54 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 167.11 557.10 Td (Company) Tj ET Q q 0 0 0 rg BT 208.78 557.10 Td (s ) Tj ET Q q 0 0 0 rg BT 216.02 557.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 261.01 557.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 279.93 557.10 Td (aging ) Tj ET Q q 0 0 0 rg BT 305.50 557.10 Td (for ) Tj ET Q q 0 0 0 rg BT 319.77 557.10 Td (AFS ) Tj ET Q q 0 0 0 rg BT 341.47 557.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 382.58 557.10 Td (by ) Tj ET Q q 0 0 0 rg BT 395.93 557.10 Td (type ) Tj ET Q q 0 0 0 rg BT 416.50 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 434.29 557.10 Td (length ) Tj ET Q q 0 0 0 rg BT 462.64 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 474.32 557.10 Td (time ) Tj ET Q q 0 0 0 rg BT 495.45 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 511.02 557.10 Td (security ) Tj ET Q q 0 0 0 rg BT 546.02 557.10 Td (was ) Tj ET Q q 0 0 0 rg BT 564.93 557.10 Td (in ) Tj ET Q q 0 0 0 rg BT 576.06 557.10 Td (a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.10 Td (continuous ) Tj ET Q q 0 0 0 rg BT 77.89 545.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 122.03 545.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 140.09 545.10 Td (position.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 486.60 135.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.00 486.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.00 486.60 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 486.60 52.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 486.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 486.60 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 486.60 51.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 486.60 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 486.60 38.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.00 486.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 462.60 135.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.00 462.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.00 462.60 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 462.60 52.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 462.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 462.60 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 462.60 51.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 462.60 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 462.60 38.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.00 462.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 438.60 135.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.00 438.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.00 438.60 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 438.60 52.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 438.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 438.60 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 438.60 51.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 438.60 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 438.60 38.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.00 438.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 414.60 135.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.00 414.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.00 414.60 42.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 414.60 52.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 414.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 414.60 35.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 414.60 51.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 414.60 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 414.60 38.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.00 414.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 390.60 135.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.00 390.60 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.00 390.60 42.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 390.60 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 390.60 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 390.60 35.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 390.60 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 390.60 48.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 390.60 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.00 390.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 364.60 135.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 167.00 364.60 49.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 216.00 364.60 42.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 258.00 364.60 52.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 310.00 364.60 49.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 359.00 364.60 35.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 394.00 364.60 51.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 364.60 48.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.00 364.60 38.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.00 364.60 50.00 -24.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 167 519.6 m 216 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 519.6 m 258 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258 519.6 m 310 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310 519.6 m 359 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 359 519.6 m 394 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394 519.6 m 445 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445 519.6 m 493 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493 519.6 m 531 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531 519.6 m 581 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 167 519.6 m 216 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 167 507.6 m 216 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 507.6 m 258 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258 507.6 m 310 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310 519.6 m 359 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310 507.6 m 359 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 359 507.6 m 394 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394 507.6 m 445 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445 519.6 m 493 519.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445 507.6 m 493 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493 507.6 m 531 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531 507.6 m 581 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 167 507.6 m 216 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 167 486.6 m 216 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 507.6 m 258 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 486.6 m 258 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258 507.6 m 310 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258 486.6 m 310 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310 507.6 m 359 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310 486.6 m 359 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 359 507.6 m 394 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 359 486.6 m 394 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394 507.6 m 445 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 394 486.6 m 445 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445 507.6 m 493 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 445 486.6 m 493 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493 507.6 m 531 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 493 486.6 m 531 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531 507.6 m 581 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531 486.6 m 581 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 486.6 m 167 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 390.6 m 167 390.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 167 390.6 m 216 390.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 216 390.6 m 258 390.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 258 390.6 m 310 390.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 310 390.6 m 359 390.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 359 390.6 m 394 390.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 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(576) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 453.22 Td (\(34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 453.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.65 453.22 Td (1,422) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.60 453.22 Td (1,364) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 453.22 Td (\(58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 453.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 441.22 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.65 441.22 Td (4,922) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.60 441.22 Td (4,737) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.80 441.22 Td (\(185) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.15 441.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.65 441.22 Td (1,225) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.60 441.22 Td (1,064) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.80 441.22 Td (\(161) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 441.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.65 441.22 Td (6,147) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.60 441.22 Td (5,801) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 441.22 Td (\(346) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 441.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 429.22 Td (Foreign govt./govt. agencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.65 429.22 Td (2,961) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.60 429.22 Td (2,868) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.80 429.22 Td (\(93) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.15 429.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.15 429.22 Td (343) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.10 429.22 Td (260) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 429.22 Td (\(83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 429.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.65 429.22 Td (3,304) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.60 429.22 Td (3,128) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 429.22 Td (\(176) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 429.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 417.22 Td (Municipal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.65 417.22 Td (3,150) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.60 417.22 Td (2,994) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.80 417.22 Td (\(156) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.15 417.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.15 417.22 Td (190) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.10 417.22 Td (162) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 417.22 Td (\(28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 417.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.65 417.22 Td (3,340) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.60 417.22 Td (3,156) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 417.22 Td (\(184) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 417.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 405.22 Td (RMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.65 405.22 Td (2,046) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.60 405.22 Td (2,008) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.80 405.22 Td (\(38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.15 405.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.15 405.22 Td (591) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.10 405.22 Td (547) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 405.22 Td (\(44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 405.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.65 405.22 Td (2,637) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.60 405.22 Td (2,555) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 405.22 Td (\(82) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 405.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 393.22 Td (U.S. Treasuries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.65 393.22 Td (2,914) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.60 393.22 Td (2,862) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.80 393.22 Td (\(52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.15 393.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.15 393.22 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.15 393.22 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.80 393.22 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 393.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.65 393.22 Td (2,947) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.60 393.22 Td (2,888) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 393.22 Td (\(59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 393.22 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 381.33 Td (Total fixed maturities, AFS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 184.65 381.33 Td (17,835) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 226.60 381.33 Td (17,280) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.80 381.38 Td (\(555) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 306.15 381.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 332.65 381.33 Td (5,402) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.60 381.33 Td (4,927) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.80 381.38 Td (\(473) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.15 381.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 461.60 381.33 Td (23,237) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 499.60 381.33 Td (22,207) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 551.30 381.33 Td (\(1,028) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 381.33 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 367.22 Td (Equity securities, AFS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 197.15 367.22 Td (196) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.15 367.22 Td (188) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.80 367.22 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.15 367.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.15 367.22 Td (223) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.10 367.22 Td (182) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 367.22 Td (\(41) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 367.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 367.22 Td (419) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 367.22 Td (370) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 367.22 Td (\(49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 367.22 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 355.28 Td (Total securities in an) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 345.28 Td (unrealized loss position) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.50 345.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 184.65 345.28 Td (18,031) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 218.50 345.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 226.60 345.28 Td (17,468) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 260.50 345.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.80 345.33 Td (\(563) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 306.15 345.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 312.50 345.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 332.65 345.28 Td (5,625) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 361.50 345.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.60 345.28 Td (5,109) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 396.50 345.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.80 345.33 Td (\(514) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.15 345.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.50 345.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 461.60 345.28 Td (23,656) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.50 345.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 499.60 345.28 Td (22,577) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 533.50 345.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 551.30 345.28 Td (\(1,077) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 345.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 279.60 134.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 279.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 279.60 40.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.00 279.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.00 279.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 279.60 37.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 279.60 52.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 279.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 279.60 40.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.00 279.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 255.60 134.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 255.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 255.60 40.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.00 255.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.00 255.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 255.60 37.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 255.60 52.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 255.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 255.60 40.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.00 255.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 231.60 134.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 231.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 231.60 40.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.00 231.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.00 231.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 231.60 37.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 231.60 52.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 231.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 231.60 40.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.00 231.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 207.60 134.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 207.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 207.60 40.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.00 207.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.00 207.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 207.60 37.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 207.60 52.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 207.60 49.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 207.60 40.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.00 207.60 50.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 183.60 134.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 183.60 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 183.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 255.00 183.60 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 304.00 183.60 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.00 183.60 37.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 183.60 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 183.60 49.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 183.60 40.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.00 183.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 157.60 134.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 166.00 157.60 49.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 215.00 157.60 40.00 -24.00 re f /GS0 gs 0.8 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gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390 300.6 m 442 300.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442 312.6 m 491 312.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442 300.6 m 491 300.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 312.6 m 531 312.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 300.6 m 531 300.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531 312.6 m 581 312.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531 300.6 m 581 300.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 166 279.6 m 215 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 215 279.6 m 255 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 255 279.6 m 304 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 304 279.6 m 353 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353 279.6 m 390 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 390 279.6 m 442 279.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442 279.6 m 491 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183.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 183.60000000000002 m 531 183.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531 183.60000000000002 m 581 183.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 157.60000000000002 m 166 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 133.60000000000002 m 166 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 166 157.60000000000002 m 215 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 166 133.60000000000002 m 215 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 215 157.60000000000002 m 255 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 215 133.60000000000002 m 255 133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 255 157.60000000000002 m 304 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 133.60000000000002 m 304 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133.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 531 157.60000000000002 m 581 157.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531 133.60000000000002 m 581 133.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 34.50 316.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 336.70 316.00 Td (December 31, 2012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 34.50 304.55 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 193.15 304.00 Td (Less Than 12 Months) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 335.25 304.00 Td (12 Months or More) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.15 304.00 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 169.50 292.00 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 181.25 283.00 Td (Cost) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 226.30 292.00 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 223.65 283.00 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 258.05 292.00 Td (Unrealized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 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rg BT 512.15 270.22 Td (866) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.50 270.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 270.22 Td (\(183) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 270.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 258.22 Td (CDOs [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 206.15 258.22 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 246.15 258.22 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.80 258.22 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 258.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.65 258.22 Td (2,567) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.60 258.22 Td (2,389) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.80 258.22 Td (\(158) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 258.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.65 258.22 Td (2,572) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.60 258.22 Td (2,393) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 258.22 Td (\(159) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 258.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 246.22 Td (CMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.15 246.22 Td (339) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.15 246.22 Td (322) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.80 246.22 Td (\(17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 246.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.65 246.22 Td (1,248) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.60 246.22 Td (1,086) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.80 246.22 Td (\(162) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 246.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.65 246.22 Td (1,587) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.60 246.22 Td (1,408) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 246.22 Td (\(179) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 246.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 234.22 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.65 234.22 Td (1,261) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.60 234.22 Td (1,218) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.80 234.22 Td (\(43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 234.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.65 234.22 Td (1,823) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.60 234.22 Td (1,590) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.80 234.22 Td (\(233) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 234.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.65 234.22 Td (3,084) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.60 234.22 Td (2,808) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 234.22 Td (\(276) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 234.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 222.22 Td (Foreign govt./govt. agencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.65 222.22 Td (1,380) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.60 222.22 Td (1,343) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.80 222.22 Td (\(37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 222.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 222.22 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.15 222.22 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.80 222.22 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 222.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.65 222.22 Td (1,400) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.60 222.22 Td (1,360) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 222.22 Td (\(40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 222.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 210.22 Td (Municipal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.15 210.22 Td (271) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.15 210.22 Td (265) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.80 210.22 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 210.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.15 210.22 Td (157) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.15 210.22 Td (144) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.80 210.22 Td (\(13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 210.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 210.22 Td (428) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 210.22 Td (409) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 210.22 Td (\(19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 210.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 198.22 Td (RMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.15 198.22 Td (910) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.15 198.22 Td (908) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.80 198.22 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 198.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.15 198.22 Td (869) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.15 198.22 Td (738) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.80 198.22 Td (\(131) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 198.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.65 198.22 Td (1,779) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.60 198.22 Td (1,646) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 198.22 Td (\(133) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 198.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 186.22 Td (U.S. Treasuries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 196.15 186.22 Td (583) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.15 186.22 Td (567) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.80 186.22 Td (\(16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 186.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 186.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.15 186.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.15 186.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 186.22 Td (583) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 186.22 Td (567) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 186.22 Td (\(16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 186.22 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 174.33 Td (Total fixed maturities, AFS) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 188.65 174.28 Td (4,912) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 228.60 174.28 Td (4,788) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.80 174.33 Td (\(124) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.15 174.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 326.65 174.28 Td (7,570) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.60 174.28 Td (6,669) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.80 174.33 Td (\(881) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 438.15 174.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.65 174.28 Td (12,482) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 499.60 174.28 Td (11,457) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 551.30 174.28 Td (\(1,005) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 174.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 160.22 Td (Equity securities, AFS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.15 160.22 Td (69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.15 160.22 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.80 160.22 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 160.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.15 160.22 Td (280) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.15 160.22 Td (225) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.80 160.22 Td (\(55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 160.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 160.22 Td (349) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.15 160.22 Td (292) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 160.22 Td (\(57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 160.22 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 148.28 Td (Total securities in an) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 138.28 Td (unrealized loss position) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 168.50 138.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 188.65 138.28 Td (4,981) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 217.50 138.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 228.60 138.28 Td (4,855) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 257.50 138.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.80 138.33 Td (\(126) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.15 138.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 306.50 138.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 326.65 138.28 Td (7,850) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 355.50 138.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.60 138.28 Td (6,894) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 392.50 138.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 419.80 138.33 Td (\(936) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 438.15 138.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 444.50 138.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.65 138.28 Td (12,831) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.50 138.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 499.60 138.28 Td (11,749) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 533.50 138.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 551.30 138.28 Td (\(1,062) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 138.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 117.30 Td ([1] Unr) Tj ET Q q 0 0 0 rg BT 59.42 117.30 Td (ealized losses exclude the change in fair value of bifur) Tj ET Q q 0 0 0 rg BT 254.79 117.30 Td (cated embedded derivative featur) Tj ET Q q 0 0 0 rg BT 374.66 117.30 Td (es of certain securities. Subsequent changes in fair value ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 106.50 Td (ar) Tj ET Q q 0 0 0 rg BT 57.17 106.50 Td (e r) Tj ET Q q 0 0 0 rg BT 66.58 106.50 Td (ecor) Tj ET Q q 0 0 0 rg BT 82.24 106.50 Td (ded in net r) Tj ET Q q 0 0 0 rg BT 123.15 106.50 Td (ealized capital gains \(losses\).) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 371 0 obj <> endobj 372 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (As ) Tj ET Q q 0 0 0 rg BT 46.28 713.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.28 713.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 118.04 713.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 138.04 713.10 Td (, ) Tj ET Q q 0 0 0 rg BT 143.40 713.10 Td (AFS ) Tj ET Q q 0 0 0 rg BT 165.41 713.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 206.84 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 218.29 713.10 Td (an ) Tj ET Q q 0 0 0 rg BT 231.40 713.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 276.71 713.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 295.94 713.10 Td (position, ) Tj ET Q q 0 0 0 rg BT 334.33 713.10 Td (consisted ) Tj ET Q q 0 0 0 rg BT 375.22 713.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.22 713.10 Td (3,215) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.72 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 413.39 713.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 457.32 713.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 498.20 713.10 Td (related ) Tj ET Q q 0 0 0 rg BT 529.08 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 540.52 713.10 Td (municipal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 75.00 701.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 107.12 701.10 Td (government ) Tj ET Q q 0 0 0 rg BT 158.12 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 175.80 701.10 Td (government ) Tj ET Q q 0 0 0 rg BT 226.80 701.10 Td (agencies, ) Tj ET Q q 0 0 0 rg BT 266.96 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 284.64 701.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 325.63 701.10 Td (securities, ) Tj ET Q q 0 0 0 rg BT 369.14 701.10 Td (which ) Tj ET Q q 0 0 0 rg BT 396.81 701.10 Td (are ) Tj ET Q q 0 0 0 rg BT 412.26 701.10 Td (depressed ) Tj ET Q q 0 0 0 rg BT 454.93 701.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 495.38 701.10 Td (due ) Tj ET Q q 0 0 0 rg BT 513.05 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 524.07 701.10 Td (an ) Tj ET Q q 0 0 0 rg BT 536.75 701.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 572.74 701.10 Td (in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 63.74 689.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 85.43 689.10 Td (since ) Tj ET Q q 0 0 0 rg BT 108.78 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.80 689.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 164.38 689.10 Td (were ) Tj ET Q q 0 0 0 rg BT 186.61 689.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 229.96 689.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 258.31 689.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 293.88 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 304.47 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 319.49 689.10 Td (value ) Tj ET Q q 0 0 0 rg BT 343.96 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 355.09 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 370.12 689.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 407.90 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 418.49 689.10 Td (which ) Tj ET Q q 0 0 0 rg BT 445.73 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 460.76 689.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 486.90 689.10 Td (are ) Tj ET Q q 0 0 0 rg BT 501.91 689.10 Td (denominated. ) Tj ET Q q 0 0 0 rg BT 558.25 689.10 Td (As ) Tj ET Q q 0 0 0 rg BT 572.17 689.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 90.60 677.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.60 677.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 116.11 677.10 Td (94%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.44 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 137.46 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 148.80 677.10 Td (these ) Tj ET Q q 0 0 0 rg BT 172.36 677.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 213.14 677.10 Td (were ) Tj ET Q q 0 0 0 rg BT 235.58 677.10 Td (depressed ) Tj ET Q q 0 0 0 rg BT 278.03 677.10 Td (less ) Tj ET Q q 0 0 0 rg BT 296.04 677.10 Td (than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.27 677.10 Td (20%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.60 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 337.61 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 348.96 677.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 368.08 677.10 Td (or ) Tj ET Q q 0 0 0 rg BT 379.43 677.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 422.42 677.10 Td (cost. ) Tj ET Q q 0 0 0 rg BT 444.04 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 446.84 677.10 Td (The ) Tj ET Q q 0 0 0 rg BT 465.40 677.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 501.17 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 511.96 677.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 556.62 677.10 Td (losses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (during ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.11 665.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 80.11 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 82.61 665.10 Td (was ) Tj ET Q q 0 0 0 rg BT 100.66 665.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 140.37 665.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 188.41 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 198.69 665.10 Td (an ) Tj ET Q q 0 0 0 rg BT 210.63 665.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 245.88 665.10 Td (in ) Tj ET Q q 0 0 0 rg BT 256.16 665.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 288.09 665.10 Td (rates, ) Tj ET Q q 0 0 0 rg BT 311.97 665.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 347.79 665.10 Td (of) Tj ET Q q 0 0 0 rg BT 355.94 665.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 372.88 665.10 Td (by ) Tj ET Q q 0 0 0 rg BT 385.38 665.10 Td (tighter ) Tj ET Q q 0 0 0 rg BT 413.98 665.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 439.24 665.10 Td (spreads.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (Most ) Tj ET Q q 0 0 0 rg BT 54.50 647.10 Td (of ) Tj ET Q q 0 0 0 rg BT 65.27 647.10 Td (the ) Tj ET Q q 0 0 0 rg BT 79.93 647.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 120.13 647.10 Td (depressed ) Tj ET Q q 0 0 0 rg BT 162.00 647.10 Td (for ) Tj ET Q q 0 0 0 rg BT 176.09 647.10 Td (twelve ) Tj ET Q q 0 0 0 rg BT 205.19 647.10 Td (months ) Tj ET Q q 0 0 0 rg BT 237.08 647.10 Td (or ) Tj ET Q q 0 0 0 rg BT 247.85 647.10 Td (more ) Tj ET Q q 0 0 0 rg BT 270.83 647.10 Td (relate ) Tj ET Q q 0 0 0 rg BT 295.47 647.10 Td (to ) Tj ET Q q 0 0 0 rg BT 305.69 647.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 335.33 647.10 Td (floating ) Tj ET Q q 0 0 0 rg BT 368.87 647.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 386.30 647.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 426.49 647.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 466.69 647.10 Td (with ) Tj ET Q q 0 0 0 rg BT 486.91 647.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 517.10 647.10 Td (than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.76 647.10 Td (10 ) Tj ET Q q 0 0 0 rg BT 549.20 647.10 Td (years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.30 647.10 Td ( ) Tj ET Q q 0 0 0 rg BT 572.74 647.10 Td (to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 67.92 635.10 Td (concentrated ) Tj ET Q q 0 0 0 rg BT 121.54 635.10 Td (in ) Tj ET Q q 0 0 0 rg BT 131.86 635.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.62 635.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 184.14 635.10 Td (services ) Tj ET Q q 0 0 0 rg BT 218.89 635.10 Td (sector) Tj ET Q q 0 0 0 rg BT 242.36 635.10 Td (, ) Tj ET Q q 0 0 0 rg BT 247.40 635.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 278.82 635.10 Td (government ) Tj ET Q q 0 0 0 rg BT 329.13 635.10 Td (and ) Tj ET Q q 0 0 0 rg BT 346.10 635.10 Td (government ) Tj ET Q q 0 0 0 rg BT 396.41 635.10 Td (agencies, ) Tj ET Q q 0 0 0 rg BT 435.87 635.10 Td (as ) Tj ET Q q 0 0 0 rg BT 446.74 635.10 Td (well ) Tj ET Q q 0 0 0 rg BT 466.50 635.10 Td (as ) Tj ET Q q 0 0 0 rg BT 477.37 635.10 Td ( ) Tj ET Q q 0 0 0 rg BT 479.91 635.10 Td (structured ) Tj ET Q q 0 0 0 rg BT 522.44 635.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 562.74 635.10 Td (with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 70.33 623.10 Td (to ) Tj ET Q q 0 0 0 rg BT 80.84 623.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 130.77 623.10 Td (and ) Tj ET Q q 0 0 0 rg BT 147.95 623.10 Td (residential ) Tj ET Q q 0 0 0 rg BT 192.33 623.10 Td (real ) Tj ET Q q 0 0 0 rg BT 210.05 623.10 Td (estate. ) Tj ET Q q 0 0 0 rg BT 237.44 623.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 277.95 623.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 303.45 623.10 Td (spreads ) Tj ET Q q 0 0 0 rg BT 336.17 623.10 Td (have ) Tj ET Q q 0 0 0 rg BT 357.79 623.10 Td (tightened ) Tj ET Q q 0 0 0 rg BT 397.73 623.10 Td (during ) Tj ET Q q 0 0 0 rg BT 426.57 623.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 451.81 623.10 Td (current ) Tj ET Q q 0 0 0 rg BT 482.85 623.10 Td (market ) Tj ET Q q 0 0 0 rg BT 513.35 623.10 Td (spreads ) Tj ET Q q 0 0 0 rg BT 546.08 623.10 Td (continue ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (to ) Tj ET Q q 0 0 0 rg BT 42.01 611.10 Td (be ) Tj ET Q q 0 0 0 rg BT 54.17 611.10 Td (wider ) Tj ET Q q 0 0 0 rg BT 79.67 611.10 Td (than ) Tj ET Q q 0 0 0 rg BT 99.62 611.10 Td (spreads ) Tj ET Q q 0 0 0 rg BT 132.33 611.10 Td (at ) Tj ET Q q 0 0 0 rg BT 142.28 611.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.23 611.10 Td (securities' ) Tj ET Q q 0 0 0 rg BT 199.52 611.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 242.78 611.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 281.05 611.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 304.32 611.10 Td (for ) Tj ET Q q 0 0 0 rg BT 318.71 611.10 Td (structured ) Tj ET Q q 0 0 0 rg BT 361.42 611.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 401.92 611.10 Td (with ) Tj ET Q q 0 0 0 rg BT 422.42 611.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 461.25 611.10 Td (to ) Tj ET Q q 0 0 0 rg BT 471.76 611.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 521.68 611.10 Td (and ) Tj ET Q q 0 0 0 rg BT 538.85 611.10 Td (residential ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (real ) Tj ET Q q 0 0 0 rg BT 49.29 599.10 Td (estate ) Tj ET Q q 0 0 0 rg BT 74.87 599.10 Td (lar) Tj ET Q q 0 0 0 rg BT 85.23 599.10 Td (gely ) Tj ET Q q 0 0 0 rg BT 105.26 599.10 Td (due ) Tj ET Q q 0 0 0 rg BT 122.51 599.10 Td (to ) Tj ET Q q 0 0 0 rg BT 133.09 599.10 Td (the ) Tj ET Q q 0 0 0 rg BT 148.12 599.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 189.80 599.10 Td (and ) Tj ET Q q 0 0 0 rg BT 207.05 599.10 Td (market ) Tj ET Q q 0 0 0 rg BT 237.62 599.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 291.52 599.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 332.64 599.10 Td (future ) Tj ET Q q 0 0 0 rg BT 359.33 599.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 412.66 599.10 Td (of ) Tj ET Q q 0 0 0 rg BT 423.80 599.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 453.81 599.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 503.82 599.10 Td (and ) Tj ET Q q 0 0 0 rg BT 521.07 599.10 Td (residential ) Tj ET Q q 0 0 0 rg BT 565.53 599.10 Td (real ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (estate ) Tj ET Q q 0 0 0 rg BT 58.11 587.10 Td (backed ) Tj ET Q q 0 0 0 rg BT 90.28 587.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 134.11 587.10 Td (The ) Tj ET Q q 0 0 0 rg BT 153.50 587.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 191.23 587.10 Td (of ) Tj ET Q q 0 0 0 rg BT 203.41 587.10 Td (these ) Tj ET Q q 0 0 0 rg BT 227.81 587.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 269.42 587.10 Td (have ) Tj ET Q q 0 0 0 rg BT 292.14 587.10 Td (a ) Tj ET Q q 0 0 0 rg BT 300.43 587.10 Td (floating-rate ) Tj ET Q q 0 0 0 rg BT 353.70 587.10 Td (coupon ) Tj ET Q q 0 0 0 rg BT 386.98 587.10 Td (referenced ) Tj ET Q q 0 0 0 rg BT 433.02 587.10 Td (to ) Tj ET Q q 0 0 0 rg BT 444.64 587.10 Td (a ) Tj ET Q q 0 0 0 rg BT 452.93 587.10 Td (market ) Tj ET Q q 0 0 0 rg BT 484.54 587.10 Td (index ) Tj ET Q q 0 0 0 rg BT 510.61 587.10 Td (that ) Tj ET Q q 0 0 0 rg BT 529.45 587.10 Td (has ) Tj ET Q q 0 0 0 rg BT 546.63 587.10 Td (declined ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (substantially) Tj ET Q q 0 0 0 rg BT 81.40 575.10 Td (. ) Tj ET Q q 0 0 0 rg BT 86.55 575.10 Td (In ) Tj ET Q q 0 0 0 rg BT 97.53 575.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 135.45 575.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 163.10 575.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 203.51 575.10 Td (include ) Tj ET Q q 0 0 0 rg BT 235.59 575.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 282.12 575.10 Td (grade ) Tj ET Q q 0 0 0 rg BT 306.98 575.10 Td (perpetual ) Tj ET Q q 0 0 0 rg BT 346.83 575.10 Td (preferred ) Tj ET Q q 0 0 0 rg BT 386.11 575.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 426.53 575.10 Td (that ) Tj ET Q q 0 0 0 rg BT 444.17 575.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 476.25 575.10 Td (debt-like ) Tj ET Q q 0 0 0 rg BT 523.32 575.10 Td (characteristics ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (where ) Tj ET Q q 0 0 0 rg BT 58.92 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.13 563.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 105.99 563.10 Td (in ) Tj ET Q q 0 0 0 rg BT 116.76 563.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 133.63 563.10 Td (value ) Tj ET Q q 0 0 0 rg BT 158.27 563.10 Td (is ) Tj ET Q q 0 0 0 rg BT 167.93 563.10 Td (not ) Tj ET Q q 0 0 0 rg BT 183.70 563.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 232.23 563.10 Td (to ) Tj ET Q q 0 0 0 rg BT 243.00 563.10 Td (issuer) Tj ET Q q 0 0 0 rg BT 266.13 563.10 Td (-specific ) Tj ET Q q 0 0 0 rg BT 303.54 563.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 329.30 563.10 Td (deterioration, ) Tj ET Q q 0 0 0 rg BT 385.88 563.10 Td (none ) Tj ET Q q 0 0 0 rg BT 408.31 563.10 Td (of ) Tj ET Q q 0 0 0 rg BT 419.63 563.10 Td (which ) Tj ET Q q 0 0 0 rg BT 447.06 563.10 Td (have, ) Tj ET Q q 0 0 0 rg BT 471.42 563.10 Td (nor ) Tj ET Q q 0 0 0 rg BT 487.75 563.10 Td (are ) Tj ET Q q 0 0 0 rg BT 502.94 563.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 541.47 563.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 554.73 563.10 Td (miss ) Tj ET Q q 0 0 0 rg BT 576.07 563.10 Td (a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 66.59 551.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 103.92 551.10 Td (payment. ) Tj ET Q q 0 0 0 rg BT 143.02 551.10 Td (These ) Tj ET Q q 0 0 0 rg BT 169.22 551.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 209.32 551.10 Td (have ) Tj ET Q q 0 0 0 rg BT 230.52 551.10 Td (been ) Tj ET Q q 0 0 0 rg BT 251.73 551.10 Td (depressed ) Tj ET Q q 0 0 0 rg BT 293.49 551.10 Td (due ) Tj ET Q q 0 0 0 rg BT 310.26 551.10 Td (to ) Tj ET Q q 0 0 0 rg BT 320.37 551.10 Td (the ) Tj ET Q q 0 0 0 rg BT 334.92 551.10 Td (securities) Tj ET Q q 0 0 0 rg BT 375.27 551.10 Td ( ) Tj ET Q q 0 0 0 rg BT 377.60 551.10 Td (floating-rate ) Tj ET Q q 0 0 0 rg BT 429.35 551.10 Td (coupon ) Tj ET Q q 0 0 0 rg BT 461.12 551.10 Td (in ) Tj ET Q q 0 0 0 rg BT 471.23 551.10 Td (the ) Tj ET Q q 0 0 0 rg BT 485.77 551.10 Td (current ) Tj ET Q q 0 0 0 rg BT 516.42 551.10 Td (low ) Tj ET Q q 0 0 0 rg BT 533.75 551.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 565.51 551.10 Td (rate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (environment, ) Tj ET Q q 0 0 0 rg BT 87.17 539.10 Td (general ) Tj ET Q q 0 0 0 rg BT 119.22 539.10 Td (market ) Tj ET Q q 0 0 0 rg BT 149.62 539.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 175.01 539.10 Td (spread ) Tj ET Q q 0 0 0 rg BT 203.74 539.10 Td (widening ) Tj ET Q q 0 0 0 rg BT 243.58 539.10 Td (since ) Tj ET Q q 0 0 0 rg BT 266.76 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 281.61 539.10 Td (date ) Tj ET Q q 0 0 0 rg BT 300.89 539.10 Td (of ) Tj ET Q q 0 0 0 rg BT 311.85 539.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 350.02 539.10 Td (and ) Tj ET Q q 0 0 0 rg BT 367.09 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 381.93 539.10 Td (long-dated ) Tj ET Q q 0 0 0 rg BT 427.33 539.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 454.94 539.10 Td (of ) Tj ET Q q 0 0 0 rg BT 465.90 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 480.75 539.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 523.45 539.10 Td (The ) Tj ET Q q 0 0 0 rg BT 541.63 539.10 Td (Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.10 Td (neither ) Tj ET Q q 0 0 0 rg BT 61.76 527.10 Td (has ) Tj ET Q q 0 0 0 rg BT 77.59 527.10 Td (an ) Tj ET Q q 0 0 0 rg BT 89.53 527.10 Td (intention ) Tj ET Q q 0 0 0 rg BT 127.58 527.10 Td (to ) Tj ET Q q 0 0 0 rg BT 137.86 527.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 154.25 527.10 Td (nor ) Tj ET Q q 0 0 0 rg BT 170.08 527.10 Td (does ) Tj ET Q q 0 0 0 rg BT 190.91 527.10 Td (it ) Tj ET Q q 0 0 0 rg BT 198.97 527.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 227.56 527.10 Td (to ) Tj ET Q q 0 0 0 rg BT 237.84 527.10 Td (be ) Tj ET Q q 0 0 0 rg BT 249.78 527.10 Td (required ) Tj ET Q q 0 0 0 rg BT 285.59 527.10 Td (to ) Tj ET Q q 0 0 0 rg BT 295.87 527.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 312.26 527.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.97 527.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 367.24 527.10 Td (outlined ) Tj ET Q q 0 0 0 rg BT 402.51 527.10 Td (above.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (Mortgage ) Tj ET Q q 0 0 0 rg BT 75.65 509.10 Td (Loans) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 460.60 189.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 221.00 460.60 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 460.60 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 460.60 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 460.60 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 461.00 460.60 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 460.60 60.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 484.6 m 281 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 281 484.6 m 341 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 484.6 m 401 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 484.6 m 461 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 484.6 m 521 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 521 484.6 m 581 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 484.6 m 281 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 460.6 m 281 460.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 281 484.6 m 341 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 281 460.6 m 341 460.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 484.6 m 401 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 460.6 m 401 460.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 484.6 m 461 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 460.6 m 461 460.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 484.6 m 521 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 460.6 m 521 460.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 521 484.6 m 581 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 521 460.6 m 581 460.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 460.6 m 221 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 447.6 m 221 447.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 221 460.6 m 281 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 221 447.6 m 281 447.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 281 460.6 m 341 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 447.6 m 341 447.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 460.6 m 401 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 447.6 m 401 447.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 460.6 m 461 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 447.6 m 461 447.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 461 460.6 m 521 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 461 447.6 m 521 447.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 521 460.6 m 581 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 447.6 m 581 447.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 489.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 274.20 489.05 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.20 489.05 Td (December 31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 230.00 474.05 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 235.35 465.05 Td (Cost [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 291.90 474.05 Td (Valuation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 290.50 465.05 Td (Allowance) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 352.75 474.05 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 359.65 465.05 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 410.00 474.05 Td (Amortized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.35 465.05 Td (Cost [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 471.90 474.05 Td (Valuation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 470.50 465.05 Td (Allowance) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.75 474.05 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.65 465.05 Td (Value) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 451.33 Td (Total commercial mortgage loans [2]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 223.50 451.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.65 451.33 Td (5,665) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 283.50 451.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 323.80 451.38 Td (\(67) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 337.15 451.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.50 451.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 374.65 451.33 Td (5,598) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 403.50 451.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.65 451.33 Td (6,779) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.50 451.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.80 451.38 Td (\(68) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.15 451.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.50 451.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 451.33 Td (6,711) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 431.30 Td ([1] ) Tj ET Q q 0 0 0 rg BT 45.09 431.30 Td (Amortized cost r) Tj ET Q q 0 0 0 rg BT 104.26 431.30 Td (epr) Tj ET Q q 0 0 0 rg BT 115.92 431.30 Td (esents carrying value prior to valuation allowances, if any) Tj ET Q q 0 0 0 rg BT 326.14 431.30 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 420.50 Td ([2] ) Tj ET Q q 0 0 0 rg BT 45.09 420.50 Td (As of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.84 420.50 Td (December31, 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 138.57 420.50 Td (, includes commer) Tj ET Q q 0 0 0 rg BT 203.97 420.50 Td (cial mortgage loans r) Tj ET Q q 0 0 0 rg BT 281.39 420.50 Td (elating to the sales of the Retir) Tj ET Q q 0 0 0 rg BT 391.54 420.50 Td (ement Plans and Individual Life businesses; see ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 408.50 Td (Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 68.75 408.50 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 73.25 408.50 Td ( - ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 81.58 408.50 Td (Business Dispositions of the Notes to Consolidated Financial Statements for further discussion of these transactions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 390.50 Td (As ) Tj ET Q q 0 0 0 rg BT 45.65 390.50 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.03 390.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 116.15 390.50 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 136.15 390.50 Td ( ) Tj ET Q q 0 0 0 rg BT 139.19 390.50 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.67 390.50 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.67 390.50 Td (, ) Tj ET Q q 0 0 0 rg BT 182.21 390.50 Td (the ) Tj ET Q q 0 0 0 rg BT 197.47 390.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 233.83 390.50 Td (value ) Tj ET Q q 0 0 0 rg BT 258.52 390.50 Td (of ) Tj ET Q q 0 0 0 rg BT 269.89 390.50 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 310.70 390.50 Td (loans ) Tj ET Q q 0 0 0 rg BT 334.85 390.50 Td (associated ) Tj ET Q q 0 0 0 rg BT 378.98 390.50 Td (with ) Tj ET Q q 0 0 0 rg BT 399.80 390.50 Td (the ) Tj ET Q q 0 0 0 rg BT 415.06 390.50 Td (valuation ) Tj ET Q q 0 0 0 rg BT 455.31 390.50 Td (allowance ) Tj ET Q q 0 0 0 rg BT 498.89 390.50 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.48 390.50 Td ($191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.48 390.50 Td ( ) Tj ET Q q 0 0 0 rg BT 540.52 390.50 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 390.50 Td ($291) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 578.00 390.50 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 378.50 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 378.50 Td (. ) Tj ET Q q 0 0 0 rg BT 84.61 378.50 Td (Included ) Tj ET Q q 0 0 0 rg BT 122.54 378.50 Td (in ) Tj ET Q q 0 0 0 rg BT 133.27 378.50 Td (the ) Tj ET Q q 0 0 0 rg BT 148.43 378.50 Td (table ) Tj ET Q q 0 0 0 rg BT 170.82 378.50 Td (above ) Tj ET Q q 0 0 0 rg BT 197.64 378.50 Td (are ) Tj ET Q q 0 0 0 rg BT 212.80 378.50 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 253.51 378.50 Td (loans ) Tj ET Q q 0 0 0 rg BT 277.57 378.50 Td (held-for) Tj ET Q q 0 0 0 rg BT 309.57 378.50 Td (-sale ) Tj ET Q q 0 0 0 rg BT 331.40 378.50 Td (with ) Tj ET Q q 0 0 0 rg BT 352.12 378.50 Td (a ) Tj ET Q q 0 0 0 rg BT 359.51 378.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 395.77 378.50 Td (value ) Tj ET Q q 0 0 0 rg BT 420.38 378.50 Td (and ) Tj ET Q q 0 0 0 rg BT 437.76 378.50 Td (valuation ) Tj ET Q q 0 0 0 rg BT 477.92 378.50 Td (allowance ) Tj ET Q q 0 0 0 rg BT 521.41 378.50 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.68 378.50 Td ($61) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.68 378.50 Td ( ) Tj ET Q q 0 0 0 rg BT 550.63 378.50 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.02 378.50 Td ($3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 578.02 378.50 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 366.50 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 366.50 Td (, ) Tj ET Q q 0 0 0 rg BT 83.58 366.50 Td (as ) Tj ET Q q 0 0 0 rg BT 93.83 366.50 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 104.09 366.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 162.09 366.50 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.09 366.50 Td (, ) Tj ET Q q 0 0 0 rg BT 186.51 366.50 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.87 366.50 Td ($47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.87 366.50 Td ( ) Tj ET Q q 0 0 0 rg BT 219.79 366.50 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.15 366.50 Td ($3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 246.15 366.50 Td (, ) Tj ET Q q 0 0 0 rg BT 250.57 366.50 Td (respectively) Tj ET Q q 0 0 0 rg BT 298.24 366.50 Td (, ) Tj ET Q q 0 0 0 rg BT 302.66 366.50 Td (as ) Tj ET Q q 0 0 0 rg BT 312.91 366.50 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.16 366.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 381.17 366.50 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.17 366.50 Td (. ) Tj ET Q q 0 0 0 rg BT 405.45 366.50 Td (The ) Tj ET Q q 0 0 0 rg BT 422.92 366.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 458.15 366.50 Td (value ) Tj ET Q q 0 0 0 rg BT 481.73 366.50 Td (of ) Tj ET Q q 0 0 0 rg BT 491.98 366.50 Td (these ) Tj ET Q q 0 0 0 rg BT 514.45 366.50 Td (loans ) Tj ET Q q 0 0 0 rg BT 537.48 366.50 Td (is ) Tj ET Q q 0 0 0 rg BT 546.07 366.50 Td (included ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 354.50 Td (in ) Tj ET Q q 0 0 0 rg BT 41.72 354.50 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 81.92 354.50 Td (loans ) Tj ET Q q 0 0 0 rg BT 105.46 354.50 Td (in ) Tj ET Q q 0 0 0 rg BT 115.68 354.50 Td (the ) Tj ET Q q 0 0 0 rg BT 130.34 354.50 Td (Company) Tj ET Q q 0 0 0 rg BT 172.00 354.50 Td (s ) Tj ET Q q 0 0 0 rg BT 178.33 354.50 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 233.54 354.50 Td (Balance ) Tj ET Q q 0 0 0 rg BT 268.18 354.50 Td (Sheets. ) Tj ET Q q 0 0 0 rg BT 299.23 354.50 Td ( ) Tj ET Q q 0 0 0 rg BT 301.13 354.50 Td (As ) Tj ET Q q 0 0 0 rg BT 314.68 354.50 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.45 354.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 383.97 354.50 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.97 354.50 Td (, ) Tj ET Q q 0 0 0 rg BT 408.91 354.50 Td (loans ) Tj ET Q q 0 0 0 rg BT 432.45 354.50 Td (within ) Tj ET Q q 0 0 0 rg BT 460.45 354.50 Td (the ) Tj ET Q q 0 0 0 rg BT 475.10 354.50 Td (Company) Tj ET Q q 0 0 0 rg BT 516.77 354.50 Td (s ) Tj ET Q q 0 0 0 rg BT 523.10 354.50 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 563.30 354.50 Td (loan ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 342.50 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 69.00 342.50 Td (that ) Tj ET Q q 0 0 0 rg BT 86.49 342.50 Td (have ) Tj ET Q q 0 0 0 rg BT 107.87 342.50 Td (had ) Tj ET Q q 0 0 0 rg BT 124.81 342.50 Td (extensions ) Tj ET Q q 0 0 0 rg BT 169.52 342.50 Td (or ) Tj ET Q q 0 0 0 rg BT 180.35 342.50 Td (restructurings ) Tj ET Q q 0 0 0 rg BT 237.84 342.50 Td (other ) Tj ET Q q 0 0 0 rg BT 260.88 342.50 Td (than ) Tj ET Q q 0 0 0 rg BT 280.60 342.50 Td (what ) Tj ET Q q 0 0 0 rg BT 302.54 342.50 Td (is ) Tj ET Q q 0 0 0 rg BT 311.71 342.50 Td (allowable ) Tj ET Q q 0 0 0 rg BT 353.08 342.50 Td (under ) Tj ET Q q 0 0 0 rg BT 378.35 342.50 Td (the ) Tj ET Q q 0 0 0 rg BT 393.07 342.50 Td (original ) Tj ET Q q 0 0 0 rg BT 426.67 342.50 Td (terms ) Tj ET Q q 0 0 0 rg BT 451.39 342.50 Td (of ) Tj ET Q q 0 0 0 rg BT 462.22 342.50 Td (the ) Tj ET Q q 0 0 0 rg BT 476.93 342.50 Td (contract ) Tj ET Q q 0 0 0 rg BT 511.64 342.50 Td (are ) Tj ET Q q 0 0 0 rg BT 526.34 342.50 Td (immaterial.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 324.50 Td (The ) Tj ET Q q 0 0 0 rg BT 49.56 324.50 Td (following ) Tj ET Q q 0 0 0 rg BT 90.96 324.50 Td (table ) Tj ET Q q 0 0 0 rg BT 112.90 324.50 Td (presents ) Tj ET Q q 0 0 0 rg BT 148.18 324.50 Td (the ) Tj ET Q q 0 0 0 rg BT 162.91 324.50 Td (activity ) Tj ET Q q 0 0 0 rg BT 195.41 324.50 Td (within ) Tj ET Q q 0 0 0 rg BT 223.48 324.50 Td (the ) Tj ET Q q 0 0 0 rg BT 238.21 324.50 Td (Company) Tj ET Q q 0 0 0 rg BT 279.87 324.50 Td (s ) Tj ET Q q 0 0 0 rg BT 286.27 324.50 Td (valuation ) Tj ET Q q 0 0 0 rg BT 326.00 324.50 Td (allowance ) Tj ET Q q 0 0 0 rg BT 369.04 324.50 Td (for ) Tj ET Q q 0 0 0 rg BT 383.21 324.50 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 423.49 324.50 Td (loans. ) Tj ET Q q 0 0 0 rg BT 449.42 324.50 Td (These ) Tj ET Q q 0 0 0 rg BT 475.81 324.50 Td (loans ) Tj ET Q q 0 0 0 rg BT 499.43 324.50 Td (have ) Tj ET Q q 0 0 0 rg BT 520.82 324.50 Td (been ) Tj ET Q q 0 0 0 rg BT 542.21 324.50 Td (evaluated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 312.50 Td (both ) Tj ET Q q 0 0 0 rg BT 51.78 312.50 Td (individually ) Tj ET Q q 0 0 0 rg BT 102.61 312.50 Td (and ) Tj ET Q q 0 0 0 rg BT 119.55 312.50 Td (collectively ) Tj ET Q q 0 0 0 rg BT 168.69 312.50 Td (for ) Tj ET Q q 0 0 0 rg BT 182.85 312.50 Td (impairment. ) Tj ET Q q 0 0 0 rg BT 233.95 312.50 Td (Loans ) Tj ET Q q 0 0 0 rg BT 260.89 312.50 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 301.70 312.50 Td (collectively ) Tj ET Q q 0 0 0 rg BT 350.85 312.50 Td (for ) Tj ET Q q 0 0 0 rg BT 365.01 312.50 Td (impairment ) Tj ET Q q 0 0 0 rg BT 413.60 312.50 Td (are ) Tj ET Q q 0 0 0 rg BT 428.31 312.50 Td (immaterial.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 270.00 381.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 270.00 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 270.00 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 270.00 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 243.00 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 243.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 243.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 243.00 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 282 m 469 282 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 282 m 525 282 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 282 m 581 282 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 282 m 413 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 270 m 413 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 282 m 469 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 270 m 469 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 282 m 525 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 270 m 525 270 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 282 m 581 282 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 270 m 581 270 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 270 m 581 270 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 229 m 413 229 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 216 m 413 216 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 229 m 469 229 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 216 m 469 216 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 229 m 525 229 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 216 m 525 216 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 229 m 581 229 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 216 m 581 216 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 286.57 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.15 286.45 Td (For the years ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 222.00 273.40 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.35 273.40 Td ( 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 486.35 273.40 Td ( 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.70 273.40 Td (2011) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 260.73 Td (Balance as of January 1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.50 260.73 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 451.80 260.78 Td (\(68) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.15 260.73 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 260.73 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 502.80 260.78 Td (\(102) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.15 260.73 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 260.73 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.80 260.73 Td (\(155) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 260.73 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 247.57 Td (\(Additions\)/Reversals) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.80 247.62 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 247.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 247.57 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 247.57 Td (\(26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 247.57 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 233.57 Td (Deductions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 233.57 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 233.57 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 233.57 Td (79) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 219.73 Td (Balance as of December 31) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.50 219.73 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 451.80 219.78 Td (\(67) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.15 219.73 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 219.73 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.80 219.78 Td (\(68) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.15 219.73 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 219.73 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.80 219.73 Td (\(102) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 219.73 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 198.50 Td (The ) Tj ET Q q 0 0 0 rg BT 50.32 198.50 Td (weighted-average ) Tj ET Q q 0 0 0 rg BT 124.66 198.50 Td (L) Tj ET Q q 0 0 0 rg BT 129.85 198.50 Td (TV) Tj ET Q q 0 0 0 rg BT 143.00 198.50 Td ( ) Tj ET Q q 0 0 0 rg BT 146.27 198.50 Td (ratio ) Tj ET Q q 0 0 0 rg BT 167.87 198.50 Td (of ) Tj ET Q q 0 0 0 rg BT 179.47 198.50 Td (the ) Tj ET Q q 0 0 0 rg BT 194.96 198.50 Td (Company) Tj ET Q q 0 0 0 rg BT 236.62 198.50 Td (s ) Tj ET Q q 0 0 0 rg BT 243.79 198.50 Td (commercial ) Tj ET Q q 0 0 0 rg BT 294.25 198.50 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 335.29 198.50 Td (loan ) Tj ET Q q 0 0 0 rg BT 355.78 198.50 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 394.04 198.50 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.87 198.50 Td (59%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.20 198.50 Td ( ) Tj ET Q q 0 0 0 rg BT 434.47 198.50 Td (as ) Tj ET Q q 0 0 0 rg BT 446.07 198.50 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.67 198.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 517.03 198.50 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.03 198.50 Td (, ) Tj ET Q q 0 0 0 rg BT 542.80 198.50 Td (while ) Tj ET Q q 0 0 0 rg BT 568.29 198.50 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 186.50 Td (weighted-average ) Tj ET Q q 0 0 0 rg BT 105.61 186.50 Td (L) Tj ET Q q 0 0 0 rg BT 110.80 186.50 Td (TV) Tj ET Q q 0 0 0 rg BT 123.95 186.50 Td ( ) Tj ET Q q 0 0 0 rg BT 126.99 186.50 Td (ratio ) Tj ET Q q 0 0 0 rg BT 148.36 186.50 Td (at ) Tj ET Q q 0 0 0 rg BT 158.62 186.50 Td (origination ) Tj ET Q q 0 0 0 rg BT 205.54 186.50 Td (of ) Tj ET Q q 0 0 0 rg BT 216.92 186.50 Td (these ) Tj ET Q q 0 0 0 rg BT 240.50 186.50 Td (loans ) Tj ET Q q 0 0 0 rg BT 264.65 186.50 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.25 186.50 Td (63%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.58 186.50 Td (. ) Tj ET Q q 0 0 0 rg BT 307.12 186.50 Td (L) Tj ET Q q 0 0 0 rg BT 312.31 186.50 Td (TV) Tj ET Q q 0 0 0 rg BT 325.46 186.50 Td ( ) Tj ET Q q 0 0 0 rg BT 328.50 186.50 Td (ratios ) Tj ET Q q 0 0 0 rg BT 353.76 186.50 Td (compare ) Tj ET Q q 0 0 0 rg BT 391.23 186.50 Td (the ) Tj ET Q q 0 0 0 rg BT 406.49 186.50 Td (loan ) Tj ET Q q 0 0 0 rg BT 426.74 186.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 459.78 186.50 Td (to ) Tj ET Q q 0 0 0 rg BT 470.60 186.50 Td (the ) Tj ET Q q 0 0 0 rg BT 485.86 186.50 Td (value ) Tj ET Q q 0 0 0 rg BT 510.56 186.50 Td (of ) Tj ET Q q 0 0 0 rg BT 521.93 186.50 Td (the ) Tj ET Q q 0 0 0 rg BT 537.19 186.50 Td (underlying ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 174.50 Td (property ) Tj ET Q q 0 0 0 rg BT 67.59 174.50 Td (collateralizing ) Tj ET Q q 0 0 0 rg BT 127.00 174.50 Td (the ) Tj ET Q q 0 0 0 rg BT 141.44 174.50 Td (loan. ) Tj ET Q q 0 0 0 rg BT 163.21 174.50 Td (The ) Tj ET Q q 0 0 0 rg BT 180.97 174.50 Td (loan ) Tj ET Q q 0 0 0 rg BT 200.41 174.50 Td (values ) Tj ET Q q 0 0 0 rg BT 228.17 174.50 Td (are ) Tj ET Q q 0 0 0 rg BT 242.59 174.50 Td (updated ) Tj ET Q q 0 0 0 rg BT 276.47 174.50 Td (no ) Tj ET Q q 0 0 0 rg BT 288.68 174.50 Td (less ) Tj ET Q q 0 0 0 rg BT 305.90 174.50 Td (than ) Tj ET Q q 0 0 0 rg BT 325.33 174.50 Td (annually ) Tj ET Q q 0 0 0 rg BT 361.98 174.50 Td (through ) Tj ET Q q 0 0 0 rg BT 395.31 174.50 Td (property ) Tj ET Q q 0 0 0 rg BT 431.40 174.50 Td (level ) Tj ET Q q 0 0 0 rg BT 453.05 174.50 Td (reviews ) Tj ET Q q 0 0 0 rg BT 486.37 174.50 Td (of ) Tj ET Q q 0 0 0 rg BT 496.92 174.50 Td (the ) Tj ET Q q 0 0 0 rg BT 511.35 174.50 Td (portfolio. ) Tj ET Q q 0 0 0 rg BT 551.06 174.50 Td (Factors ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 162.50 Td (considered ) Tj ET Q q 0 0 0 rg BT 77.46 162.50 Td (in ) Tj ET Q q 0 0 0 rg BT 87.88 162.50 Td (the ) Tj ET Q q 0 0 0 rg BT 102.73 162.50 Td (property ) Tj ET Q q 0 0 0 rg BT 139.25 162.50 Td (valuation ) Tj ET Q q 0 0 0 rg BT 179.10 162.50 Td (include, ) Tj ET Q q 0 0 0 rg BT 213.68 162.50 Td (but ) Tj ET Q q 0 0 0 rg BT 229.10 162.50 Td (are ) Tj ET Q q 0 0 0 rg BT 243.94 162.50 Td (not ) Tj ET Q q 0 0 0 rg BT 259.36 162.50 Td (limited ) Tj ET Q q 0 0 0 rg BT 290.33 162.50 Td (to, ) Tj ET Q q 0 0 0 rg BT 303.25 162.50 Td (actual ) Tj ET Q q 0 0 0 rg BT 329.76 162.50 Td (and ) Tj ET Q q 0 0 0 rg BT 346.84 162.50 Td (expected ) Tj ET Q q 0 0 0 rg BT 385.02 162.50 Td (property ) Tj ET Q q 0 0 0 rg BT 421.53 162.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 441.94 162.50 Td (flows, ) Tj ET Q q 0 0 0 rg BT 469.31 162.50 Td (geographic ) Tj ET Q q 0 0 0 rg BT 516.37 162.50 Td (market ) Tj ET Q q 0 0 0 rg BT 546.77 162.50 Td (data ) Tj ET Q q 0 0 0 rg BT 566.07 162.50 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 150.50 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 88.25 150.50 Td (rates. ) Tj ET Q q 0 0 0 rg BT 112.51 150.50 Td (DSCRs ) Tj ET Q q 0 0 0 rg BT 145.40 150.50 Td (compare ) Tj ET Q q 0 0 0 rg BT 182.71 150.50 Td (a ) Tj ET Q q 0 0 0 rg BT 190.03 150.50 Td (property) Tj ET Q q 0 0 0 rg BT 226.69 150.50 Td (s ) Tj ET Q q 0 0 0 rg BT 233.46 150.50 Td (net ) Tj ET Q q 0 0 0 rg BT 248.56 150.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 289.21 150.50 Td (income ) Tj ET Q q 0 0 0 rg BT 321.53 150.50 Td (to ) Tj ET Q q 0 0 0 rg BT 332.19 150.50 Td (the ) Tj ET Q q 0 0 0 rg BT 347.29 150.50 Td (borrower) Tj ET Q q 0 0 0 rg BT 384.31 150.50 Td () Tj ET Q q 0 0 0 rg BT 387.09 150.50 Td (s ) Tj ET Q q 0 0 0 rg BT 393.86 150.50 Td (principal ) Tj ET Q q 0 0 0 rg BT 432.29 150.50 Td (and ) Tj ET Q q 0 0 0 rg BT 449.61 150.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 481.93 150.50 Td (payments. ) Tj ET Q q 0 0 0 rg BT 525.43 150.50 Td (The ) Tj ET Q q 0 0 0 rg BT 543.86 150.50 Td (weighted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 138.50 Td (average ) Tj ET Q q 0 0 0 rg BT 64.98 138.50 Td (DSCR ) Tj ET Q q 0 0 0 rg BT 93.50 138.50 Td (of ) Tj ET Q q 0 0 0 rg BT 104.22 138.50 Td (the ) Tj ET Q q 0 0 0 rg BT 118.83 138.50 Td (Company) Tj ET Q q 0 0 0 rg BT 160.50 138.50 Td (s ) Tj ET Q q 0 0 0 rg BT 166.79 138.50 Td (commercial ) Tj ET Q q 0 0 0 rg BT 216.38 138.50 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 256.54 138.50 Td (loan ) Tj ET Q q 0 0 0 rg BT 276.15 138.50 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 313.54 138.50 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.49 138.50 Td (2.34x) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.99 138.50 Td ( ) Tj ET Q q 0 0 0 rg BT 356.38 138.50 Td (as ) Tj ET Q q 0 0 0 rg BT 367.11 138.50 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.83 138.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 436.31 138.50 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.31 138.50 Td (. ) Tj ET Q q 0 0 0 rg BT 460.68 138.50 Td (As ) Tj ET Q q 0 0 0 rg BT 474.18 138.50 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.91 138.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 543.39 138.50 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.39 138.50 Td (, ) Tj ET Q q 0 0 0 rg BT 568.28 138.50 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 126.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 73.07 126.50 Td (held ) Tj ET Q q 0 0 0 rg BT 92.97 126.50 Td (only ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 113.44 126.50 Td (one) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 127.88 126.50 Td ( ) Tj ET Q q 0 0 0 rg BT 130.56 126.50 Td (delinquent ) Tj ET Q q 0 0 0 rg BT 175.46 126.50 Td (commercial ) Tj ET Q q 0 0 0 rg BT 225.34 126.50 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 265.79 126.50 Td (loan ) Tj ET Q q 0 0 0 rg BT 285.69 126.50 Td (past ) Tj ET Q q 0 0 0 rg BT 304.49 126.50 Td (due ) Tj ET Q q 0 0 0 rg BT 321.61 126.50 Td (by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.30 126.50 Td (90days ) Tj ET Q q 0 0 0 rg BT 367.81 126.50 Td (or ) Tj ET Q q 0 0 0 rg BT 378.83 126.50 Td (more) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.38 126.50 Td (. ) Tj ET Q q 0 0 0 rg BT 404.37 126.50 Td (The ) Tj ET Q q 0 0 0 rg BT 422.60 126.50 Td (carrying ) Tj ET Q q 0 0 0 rg BT 458.60 126.50 Td (value ) Tj ET Q q 0 0 0 rg BT 482.94 126.50 Td (and ) Tj ET Q q 0 0 0 rg BT 500.07 126.50 Td (valuation ) Tj ET Q q 0 0 0 rg BT 539.96 126.50 Td (allowance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 114.50 Td (of ) Tj ET Q q 0 0 0 rg BT 42.86 114.50 Td (this ) Tj ET Q q 0 0 0 rg BT 60.33 114.50 Td (loan ) Tj ET Q q 0 0 0 rg BT 80.57 114.50 Td (totaled ) Tj ET Q q 0 0 0 rg BT 110.81 114.50 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.81 114.50 Td (0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.81 114.50 Td ( ) Tj ET Q q 0 0 0 rg BT 123.84 114.50 Td (and ) Tj ET Q q 0 0 0 rg BT 141.30 114.50 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 146.30 114.50 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.30 114.50 Td (, ) Tj ET Q q 0 0 0 rg BT 161.83 114.50 Td (respectively) Tj ET Q q 0 0 0 rg BT 209.49 114.50 Td (, ) Tj ET Q q 0 0 0 rg BT 215.02 114.50 Td (and ) Tj ET Q q 0 0 0 rg BT 232.48 114.50 Td (was ) Tj ET Q q 0 0 0 rg BT 251.06 114.50 Td (not ) Tj ET Q q 0 0 0 rg BT 266.87 114.50 Td (accruing ) Tj ET Q q 0 0 0 rg BT 304.32 114.50 Td (income. ) Tj ET Q q 0 0 0 rg BT 339.28 114.50 Td ( ) Tj ET Q q 0 0 0 rg BT 341.63 114.50 Td (As ) Tj ET Q q 0 0 0 rg BT 355.77 114.50 Td (of ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 367.13 114.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 423.88 114.50 Td (2012) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 443.08 114.50 Td (, ) Tj ET Q q 0 0 0 rg BT 448.38 114.50 Td (the ) Tj ET Q q 0 0 0 rg BT 463.01 114.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 503.25 114.50 Td (held ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 522.68 114.50 Td (two) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 537.08 114.50 Td ( ) Tj ET Q q 0 0 0 rg BT 539.99 114.50 Td (delinquent ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 102.95 Td (commercial ) Tj ET Q q 0 0 0 rg BT 79.32 102.95 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 118.09 102.95 Td (loans ) Tj ET Q q 0 0 0 rg BT 140.86 102.95 Td (past ) Tj ET Q q 0 0 0 rg BT 158.84 102.95 Td (due ) Tj ET Q q 0 0 0 rg BT 175.21 102.95 Td (by ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 187.33 102.95 Td (90 ) Tj ET Q q 0 0 0 rg BT 199.44 102.95 Td (days ) Tj ET Q q 0 0 0 rg BT 219.55 102.95 Td (or ) Tj ET Q q 0 0 0 rg BT 230.06 102.95 Td (more) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 249.78 102.95 Td (. ) Tj ET Q q 0 0 0 rg BT 254.69 102.95 Td ( ) Tj ET Q q 0 0 0 rg BT 257.02 102.95 Td (These ) Tj ET Q q 0 0 0 rg BT 282.46 102.95 Td (loans ) Tj ET Q q 0 0 0 rg BT 305.24 102.95 Td (had ) Tj ET Q q 0 0 0 rg BT 321.61 102.95 Td (a ) Tj ET Q q 0 0 0 rg BT 328.38 102.95 Td (total ) Tj ET Q q 0 0 0 rg BT 347.96 102.95 Td (carrying ) Tj ET Q q 0 0 0 rg BT 382.45 102.95 Td (value ) Tj ET Q q 0 0 0 rg BT 405.75 102.95 Td (and ) Tj ET Q q 0 0 0 rg BT 422.13 102.95 Td (valuation ) Tj ET Q q 0 0 0 rg BT 460.36 102.95 Td (allowance ) Tj ET Q q 0 0 0 rg BT 501.78 102.95 Td (totaled ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 530.42 102.95 Td ($32) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 544.82 102.95 Td ( ) Tj ET Q q 0 0 0 rg BT 547.33 102.95 Td (and ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 563.71 102.95 Td ($50) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 578.11 102.95 Td (, ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 91.45 Td (respectively) Tj ET Q q 0 0 0 rg BT 77.25 91.45 Td (, ) Tj ET Q q 0 0 0 rg BT 82.05 91.45 Td (and ) Tj ET Q q 0 0 0 rg BT 98.31 91.45 Td (were ) Tj ET Q q 0 0 0 rg BT 119.37 91.45 Td (not ) Tj ET Q q 0 0 0 rg BT 134.03 91.45 Td (accruing ) Tj ET Q q 0 0 0 rg BT 169.48 91.45 Td (income.) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 373 0 obj <> endobj 374 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 713.10 Td (following ) Tj ET Q q 0 0 0 rg BT 90.93 713.10 Td (table ) Tj ET Q q 0 0 0 rg BT 112.87 713.10 Td (presents ) Tj ET Q q 0 0 0 rg BT 148.14 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 162.85 713.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 198.67 713.10 Td (value ) Tj ET Q q 0 0 0 rg BT 222.82 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 233.65 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 248.37 713.10 Td (Company) Tj ET Q q 0 0 0 rg BT 290.04 713.10 Td (s ) Tj ET Q q 0 0 0 rg BT 296.43 713.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 346.12 713.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 386.39 713.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 410.00 713.10 Td (by ) Tj ET Q q 0 0 0 rg BT 422.50 713.10 Td (L) Tj ET Q q 0 0 0 rg BT 427.69 713.10 Td (TV) Tj ET Q q 0 0 0 rg BT 440.84 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 443.34 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 460.27 713.10 Td (DSCR.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 645.60 292.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 645.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 645.60 85.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 645.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 645.60 80.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 617.60 292.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 617.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 617.60 85.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 617.60 46.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.00 617.60 80.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 682.6 m 324 682.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 324 682.6 m 370 682.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 682.6 m 455 682.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455 682.6 m 501 682.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 682.6 m 581 682.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 324 682.6 m 370 682.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 324 668.6 m 370 668.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 682.6 m 455 682.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 668.6 m 455 668.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455 682.6 m 501 682.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455 668.6 m 501 668.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 682.6 m 581 682.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 668.6 m 581 668.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 645.6 m 324 645.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 324 668.6 m 370 668.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 324 645.6 m 370 645.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 668.6 m 455 668.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 645.6 m 455 645.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455 668.6 m 501 668.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455 645.6 m 501 645.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 668.6 m 581 668.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 645.6 m 581 645.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 645.6 m 324 645.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 603.6 m 324 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 590.6 m 324 590.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 324 603.6 m 370 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 590.6 m 370 590.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 603.6 m 455 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 590.6 m 455 590.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 455 603.6 m 501 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 590.6 m 501 590.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501 603.6 m 581 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 501 590.6 m 581 590.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 220.40 687.05 Td (Commercial Mortgage Loans Credit Quality) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 673.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 352.70 673.05 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.20 673.05 Td (December 31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 650.05 Td (Loan-to-value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 328.75 659.05 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 335.65 650.05 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 377.55 659.05 Td (Avg. Debt-Service) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 382.10 650.05 Td (Coverage Ratio) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.75 659.05 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.65 650.05 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.05 659.05 Td (Avg. Debt-Service) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 510.60 650.05 Td (Coverage Ratio) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 636.17 Td (Greater than 80%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.50 636.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.15 636.17 Td (101) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.75 636.17 Td (0.99x) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 636.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 636.17 Td (253) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.00 636.17 Td (0.95x) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 622.17 Td (65% - 80%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.65 622.17 Td (1,195) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.75 622.17 Td (1.82x) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 622.17 Td (2,220) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.00 622.17 Td (2.12x) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 608.17 Td (Less than 65%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.65 608.17 Td (4,302) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.75 608.17 Td (2.53x) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.65 608.17 Td (4,238) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.00 608.17 Td (2.40x) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 594.33 Td (Total commercial mortgage loans) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 326.50 594.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.65 594.33 Td (5,598) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 400.75 594.33 Td (2.34x) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.50 594.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 474.65 594.33 Td (6,711) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 555.00 594.33 Td (2.24x) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 573.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 573.10 Td (following ) Tj ET Q q 0 0 0 rg BT 90.93 573.10 Td (tables ) Tj ET Q q 0 0 0 rg BT 116.76 573.10 Td (present ) Tj ET Q q 0 0 0 rg BT 148.14 573.10 Td (the ) Tj ET Q q 0 0 0 rg BT 162.85 573.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 198.67 573.10 Td (value ) Tj ET Q q 0 0 0 rg BT 222.82 573.10 Td (of ) Tj ET Q q 0 0 0 rg BT 233.65 573.10 Td (the ) Tj ET Q q 0 0 0 rg BT 248.37 573.10 Td (Company) Tj ET Q q 0 0 0 rg BT 290.04 573.10 Td (s ) Tj ET Q q 0 0 0 rg BT 296.43 573.10 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 336.69 573.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 360.30 573.10 Td (by ) Tj ET Q q 0 0 0 rg BT 372.80 573.10 Td (region ) Tj ET Q q 0 0 0 rg BT 400.85 573.10 Td (and ) Tj ET Q q 0 0 0 rg BT 417.78 573.10 Td (property ) Tj ET Q q 0 0 0 rg BT 454.16 573.10 Td (type.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 505.60 325.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 505.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 505.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 505.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 505.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 477.60 325.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 477.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 477.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 477.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 477.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 449.60 325.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 449.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 449.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 449.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 449.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 421.60 325.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 421.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 421.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 421.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 421.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 393.60 325.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 357.00 393.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 393.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 393.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 393.60 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 543.6 m 357 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 543.6 m 413 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 543.6 m 469 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 543.6 m 525 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 543.6 m 581 543.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 543.6 m 413 543.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 529.6 m 413 529.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 543.6 m 469 543.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 529.6 m 469 529.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 543.6 m 525 543.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 529.6 m 525 529.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 543.6 m 581 543.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 529.6 m 581 529.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 529.6 m 413 529.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 505.6 m 413 505.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 529.6 m 469 529.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 505.6 m 469 505.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 529.6 m 525 529.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 505.6 m 525 505.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 529.6 m 581 529.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 505.6 m 581 505.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 505.6 m 357 505.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 379.6 m 357 379.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 366.6 m 357 366.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 357 379.6 m 413 379.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 366.6 m 413 366.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 379.6 m 469 379.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 366.6 m 469 366.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 379.6 m 525 379.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 366.6 m 525 366.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 379.6 m 581 379.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 366.6 m 581 366.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 253.85 548.00 Td (Mortgage Loans by Region) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 534.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 376.20 534.05 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 488.20 534.05 Td (December 31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 510.27 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.75 519.05 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.65 510.05 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.95 519.05 Td (Percent of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.65 510.05 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.75 519.05 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.65 510.05 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.95 519.05 Td (Percent of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.65 510.05 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 496.17 Td (East North Central) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.50 496.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 496.17 Td (187) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.00 496.17 Td (3.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 496.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 496.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 496.17 Td (145) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 496.17 Td (2.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 496.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 482.17 Td (Middle Atlantic) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 482.17 Td (409) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.00 482.17 Td (7.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 482.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 482.17 Td (477) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 482.17 Td (7.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 482.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 468.17 Td (Mountain) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 468.17 Td (104) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.00 468.17 Td (1.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 468.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 468.17 Td (99) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 468.17 Td (1.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 468.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 454.17 Td (New England) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 454.17 Td (353) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.00 454.17 Td (6.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 454.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 454.17 Td (350) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 454.17 Td (5.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 454.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 440.17 Td (Pacific) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.65 440.17 Td (1,587) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 440.17 Td (28.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 440.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 440.17 Td (1,978) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 440.17 Td (29.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 440.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 426.17 Td (South Atlantic) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 426.17 Td (899) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 426.17 Td (16.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 426.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 426.17 Td (1,378) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 426.17 Td (20.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 426.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 412.17 Td (West North Central) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 412.17 Td (47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.00 412.17 Td (0.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 412.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 412.17 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 412.17 Td (0.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 412.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 398.17 Td (West South Central) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 398.17 Td (338) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.00 398.17 Td (6.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 398.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 398.17 Td (398) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 398.17 Td (5.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 398.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 384.17 Td (Other [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.65 384.17 Td (1,674) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.00 384.17 Td (30.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 384.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 384.17 Td (1,870) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.00 384.17 Td (27.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 384.17 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 370.33 Td (Total mortgage loans) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.50 370.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 386.65 370.33 Td (5,598) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.00 370.33 Td (100.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.50 370.33 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 370.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.65 370.33 Td (6,711) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.00 370.33 Td (100.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.50 370.33 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 350.30 Td ([1] Primarily r) Tj ET Q q 0 0 0 rg BT 85.67 350.30 Td (epr) Tj ET Q q 0 0 0 rg BT 97.33 350.30 Td (esents loans collateralized by multiple pr) Tj ET Q q 0 0 0 rg BT 245.23 350.30 Td (operties in various r) Tj ET Q q 0 0 0 rg BT 318.15 350.30 Td (egions.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 283.80 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 283.80 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 283.80 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 283.80 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 283.80 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 255.80 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 255.80 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 255.80 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 255.80 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 255.80 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 227.80 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 227.80 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 227.80 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 227.80 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 227.80 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 199.80 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 199.80 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 199.80 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 199.80 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 199.80 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 171.80 311.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 171.80 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 171.80 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 171.80 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 171.80 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 320.79999999999995 m 343 320.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343 320.79999999999995 m 399 320.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343 306.79999999999995 m 399 306.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399 320.79999999999995 m 465 320.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399 306.79999999999995 m 465 306.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465 320.79999999999995 m 521 320.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465 306.79999999999995 m 521 306.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 521 320.79999999999995 m 577 320.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 521 306.79999999999995 m 577 306.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343 306.79999999999995 m 399 306.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343 283.79999999999995 m 399 283.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399 306.79999999999995 m 465 306.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399 283.79999999999995 m 465 283.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465 283.79999999999995 m 521 283.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 521 306.79999999999995 m 577 306.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 521 283.79999999999995 m 577 283.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 283.79999999999995 m 343 283.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 171.79999999999995 m 343 171.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 171.79999999999995 m 343 171.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 158.79999999999995 m 343 158.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343 171.79999999999995 m 399 171.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 158.79999999999995 m 399 158.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399 171.79999999999995 m 465 171.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 158.79999999999995 m 465 158.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465 171.79999999999995 m 521 171.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 158.79999999999995 m 521 158.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 521 171.79999999999995 m 577 171.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 158.79999999999995 m 577 158.79999999999995 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 209.75 325.20 Td (Mortgage Loans by Property Type) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 311.37 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 367.20 311.25 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.20 311.25 Td (December 31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 288.47 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 352.75 297.25 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 359.65 288.25 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.95 297.25 Td (Percent of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.65 288.25 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 474.75 297.25 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.65 288.25 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.95 297.25 Td (Percent of) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.65 288.25 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 274.37 Td (Commercial) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 260.37 Td (Agricultural) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.50 260.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.15 260.37 Td (125) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.00 260.37 Td (2.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.15 260.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.50 260.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 260.37 Td (142) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.00 260.37 Td (2.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.15 260.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 246.37 Td (Industrial) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.65 246.37 Td (1,718) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.00 246.37 Td (30.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.15 246.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 246.37 Td (2,079) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.00 246.37 Td (30.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.15 246.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 232.37 Td (Lodging) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.15 232.37 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.00 232.37 Td (0.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.15 232.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 232.37 Td (81) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.00 232.37 Td (1.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.15 232.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 218.37 Td (Multifamily) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.65 218.37 Td (1,155) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.00 218.37 Td (20.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.15 218.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 218.37 Td (1,200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.00 218.37 Td (17.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.15 218.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 204.37 Td (Office) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.65 204.37 Td (1,278) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.00 204.37 Td (22.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.15 204.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 204.37 Td (1,510) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.00 204.37 Td (22.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.15 204.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 190.37 Td (Retail) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.65 190.37 Td (1,140) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.00 190.37 Td (20.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.15 190.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 190.37 Td (1,460) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.00 190.37 Td (21.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.15 190.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 176.37 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.15 176.37 Td (155) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.00 176.37 Td (2.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.15 176.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 176.37 Td (239) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.00 176.37 Td (3.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.15 176.37 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 162.53 Td (Total mortgage loans) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 345.50 162.53 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.65 162.53 Td (5,598) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 432.00 162.53 Td (100.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.50 162.53 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.50 162.53 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.65 162.53 Td (6,711) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.00 162.53 Td (100.0) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 566.50 162.53 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 375 0 obj <> endobj 376 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-51) Tj ET Q BT /F3 9.60 Tf ET q 0 0 0 rg BT 31.50 713.50 Td (V) Tj ET Q q 0 0 0 rg BT 37.55 713.50 Td (ariable ) Tj ET Q q 0 0 0 rg BT 68.75 713.50 Td (Inter) Tj ET Q q 0 0 0 rg BT 89.37 713.50 Td (est ) Tj ET Q q 0 0 0 rg BT 102.96 713.50 Td (Entities) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 696.00 Td (The ) Tj ET Q q 0 0 0 rg BT 48.14 696.00 Td (Company ) Tj ET Q q 0 0 0 rg BT 87.19 696.00 Td (is ) Tj ET Q q 0 0 0 rg BT 95.30 696.00 Td (involved ) Tj ET Q q 0 0 0 rg BT 130.61 696.00 Td (with ) Tj ET Q q 0 0 0 rg BT 149.40 696.00 Td (various ) Tj ET Q q 0 0 0 rg BT 179.37 696.00 Td (special ) Tj ET Q q 0 0 0 rg BT 207.74 696.00 Td (purpose ) Tj ET Q q 0 0 0 rg BT 239.85 696.00 Td (entities ) Tj ET Q q 0 0 0 rg BT 269.29 696.00 Td (and ) Tj ET Q q 0 0 0 rg BT 284.86 696.00 Td (other ) Tj ET Q q 0 0 0 rg BT 306.30 696.00 Td (entities ) Tj ET Q q 0 0 0 rg BT 335.74 696.00 Td (that ) Tj ET Q q 0 0 0 rg BT 351.85 696.00 Td (are ) Tj ET Q q 0 0 0 rg BT 365.28 696.00 Td (deemed ) Tj ET Q q 0 0 0 rg BT 396.85 696.00 Td (to ) Tj ET Q q 0 0 0 rg BT 406.03 696.00 Td (be ) Tj ET Q q 0 0 0 rg BT 416.68 696.00 Td (VIEs ) Tj ET Q q 0 0 0 rg BT 438.13 696.00 Td (primarily ) Tj ET Q q 0 0 0 rg BT 475.56 696.00 Td (as ) Tj ET Q q 0 0 0 rg BT 485.27 696.00 Td (a ) Tj ET Q q 0 0 0 rg BT 491.25 696.00 Td (collateral ) Tj ET Q q 0 0 0 rg BT 528.67 696.00 Td (or ) Tj ET Q q 0 0 0 rg BT 538.38 696.00 Td (investment ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 684.50 Td (manager ) Tj ET Q q 0 0 0 rg BT 67.26 684.50 Td (and ) Tj ET Q q 0 0 0 rg BT 83.84 684.50 Td (as ) Tj ET Q q 0 0 0 rg BT 94.55 684.50 Td (an ) Tj ET Q q 0 0 0 rg BT 106.33 684.50 Td (investor ) Tj ET Q q 0 0 0 rg BT 139.97 684.50 Td (through ) Tj ET Q q 0 0 0 rg BT 172.55 684.50 Td (normal ) Tj ET Q q 0 0 0 rg BT 202.46 684.50 Td (investment ) Tj ET Q q 0 0 0 rg BT 247.30 684.50 Td (activities, ) Tj ET Q q 0 0 0 rg BT 287.07 684.50 Td (as ) Tj ET Q q 0 0 0 rg BT 297.78 684.50 Td (well ) Tj ET Q q 0 0 0 rg BT 317.02 684.50 Td (as ) Tj ET Q q 0 0 0 rg BT 327.74 684.50 Td (a ) Tj ET Q q 0 0 0 rg BT 334.71 684.50 Td (means ) Tj ET Q q 0 0 0 rg BT 361.95 684.50 Td (of ) Tj ET Q q 0 0 0 rg BT 372.67 684.50 Td (accessing ) Tj ET Q q 0 0 0 rg BT 412.16 684.50 Td (capital ) Tj ET Q q 0 0 0 rg BT 440.46 684.50 Td (through ) Tj ET Q q 0 0 0 rg BT 473.04 684.50 Td (a ) Tj ET Q q 0 0 0 rg BT 480.02 684.50 Td (contingent ) Tj ET Q q 0 0 0 rg BT 523.26 684.50 Td (capital ) Tj ET Q q 0 0 0 rg BT 551.56 684.50 Td (facility) Tj ET Q q 0 0 0 rg BT 578.12 684.50 Td (. ) Tj ET Q q 0 0 0 rg BT 582.92 684.50 Td ( ) Tj ET Q q 0 0 0 rg BT 585.32 684.50 Td ( ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 672.95 Td (For ) Tj ET Q q 0 0 0 rg BT 47.24 672.95 Td (further ) Tj ET Q q 0 0 0 rg BT 75.75 672.95 Td (information ) Tj ET Q q 0 0 0 rg BT 123.48 672.95 Td (on ) Tj ET Q q 0 0 0 rg BT 135.48 672.95 Td (the ) Tj ET Q q 0 0 0 rg BT 149.61 672.95 Td (facility) Tj ET Q q 0 0 0 rg BT 176.17 672.95 Td (, ) Tj ET Q q 0 0 0 rg BT 180.97 672.95 Td (see ) Tj ET Q q 0 0 0 rg BT 195.63 672.95 Td (Note ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 216.69 672.95 Td (13) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 226.29 672.95 Td ( ) Tj ET Q q 0 0 0 rg BT 228.69 672.95 Td (- ) Tj ET Q q 0 0 0 rg BT 234.29 672.95 Td (Debt ) Tj ET Q q 0 0 0 rg BT 255.35 672.95 Td (of ) Tj ET Q q 0 0 0 rg BT 265.74 672.95 Td (Notes ) Tj ET Q q 0 0 0 rg BT 290.54 672.95 Td (to ) Tj ET Q q 0 0 0 rg BT 300.41 672.95 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 353.47 672.95 Td (Financial ) Tj ET Q q 0 0 0 rg BT 391.59 672.95 Td (Statements.) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 655.45 Td (A) Tj ET Q q 0 0 0 rg BT 37.90 655.45 Td ( ) Tj ET Q q 0 0 0 rg BT 40.02 655.45 Td (VIE ) Tj ET Q q 0 0 0 rg BT 58.30 655.45 Td (is ) Tj ET Q q 0 0 0 rg BT 66.98 655.45 Td (an ) Tj ET Q q 0 0 0 rg BT 78.32 655.45 Td (entity ) Tj ET Q q 0 0 0 rg BT 102.47 655.45 Td (that ) Tj ET Q q 0 0 0 rg BT 119.14 655.45 Td (either ) Tj ET Q q 0 0 0 rg BT 143.28 655.45 Td (has ) Tj ET Q q 0 0 0 rg BT 158.36 655.45 Td (investors ) Tj ET Q q 0 0 0 rg BT 195.30 655.45 Td (that ) Tj ET Q q 0 0 0 rg BT 211.98 655.45 Td (lack ) Tj ET Q q 0 0 0 rg BT 230.25 655.45 Td (certain ) Tj ET Q q 0 0 0 rg BT 258.65 655.45 Td (essential ) Tj ET Q q 0 0 0 rg BT 293.98 655.45 Td (characteristics ) Tj ET Q q 0 0 0 rg BT 351.16 655.45 Td (of ) Tj ET Q q 0 0 0 rg BT 361.44 655.45 Td (a ) Tj ET Q q 0 0 0 rg BT 367.98 655.45 Td (controlling ) Tj ET Q q 0 0 0 rg BT 412.39 655.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 448.25 655.45 Td (interest ) Tj ET Q q 0 0 0 rg BT 478.79 655.45 Td (or ) Tj ET Q q 0 0 0 rg BT 489.07 655.45 Td (lacks ) Tj ET Q q 0 0 0 rg BT 511.08 655.45 Td (suf) Tj ET Q q 0 0 0 rg BT 522.64 655.45 Td (ficient ) Tj ET Q q 0 0 0 rg BT 549.44 655.45 Td (funds ) Tj ET Q q 0 0 0 rg BT 573.05 655.45 Td (to ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 643.90 Td (finance ) Tj ET Q q 0 0 0 rg BT 62.15 643.90 Td (its ) Tj ET Q q 0 0 0 rg BT 73.62 643.90 Td (own ) Tj ET Q q 0 0 0 rg BT 92.55 643.90 Td (activities ) Tj ET Q q 0 0 0 rg BT 129.60 643.90 Td (without ) Tj ET Q q 0 0 0 rg BT 161.34 643.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 197.32 643.90 Td (support ) Tj ET Q q 0 0 0 rg BT 228.52 643.90 Td (provided ) Tj ET Q q 0 0 0 rg BT 265.04 643.90 Td (by ) Tj ET Q q 0 0 0 rg BT 277.05 643.90 Td (other ) Tj ET Q q 0 0 0 rg BT 299.17 643.90 Td (entities.) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 626.40 Td (The ) Tj ET Q q 0 0 0 rg BT 48.48 626.40 Td (Company ) Tj ET Q q 0 0 0 rg BT 87.86 626.40 Td (performs ) Tj ET Q q 0 0 0 rg BT 124.56 626.40 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 158.08 626.40 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 200.65 626.40 Td (assessments ) Tj ET Q q 0 0 0 rg BT 249.10 626.40 Td (of ) Tj ET Q q 0 0 0 rg BT 259.15 626.40 Td (its ) Tj ET Q q 0 0 0 rg BT 270.12 626.40 Td (VIEs ) Tj ET Q q 0 0 0 rg BT 291.90 626.40 Td (to ) Tj ET Q q 0 0 0 rg BT 301.42 626.40 Td (determine ) Tj ET Q q 0 0 0 rg BT 341.85 626.40 Td (whether ) Tj ET Q q 0 0 0 rg BT 374.82 626.40 Td (the ) Tj ET Q q 0 0 0 rg BT 388.60 626.40 Td (Company ) Tj ET Q q 0 0 0 rg BT 427.98 626.40 Td (has ) Tj ET Q q 0 0 0 rg BT 442.83 626.40 Td (a ) Tj ET Q q 0 0 0 rg BT 449.14 626.40 Td (controlling ) Tj ET Q q 0 0 0 rg BT 493.32 626.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 528.95 626.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 559.26 626.40 Td (in ) Tj ET Q q 0 0 0 rg BT 568.77 626.40 Td (the ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 614.90 Td (VIE ) Tj ET Q q 0 0 0 rg BT 49.47 614.90 Td (and ) Tj ET Q q 0 0 0 rg BT 65.30 614.90 Td (therefore ) Tj ET Q q 0 0 0 rg BT 101.91 614.90 Td (is ) Tj ET Q q 0 0 0 rg BT 110.28 614.90 Td (the ) Tj ET Q q 0 0 0 rg BT 123.98 614.90 Td (primary ) Tj ET Q q 0 0 0 rg BT 156.34 614.90 Td (beneficiary) Tj ET Q q 0 0 0 rg BT 198.89 614.90 Td (. ) Tj ET Q q 0 0 0 rg BT 203.12 614.90 Td (The ) Tj ET Q q 0 0 0 rg BT 220.02 614.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 259.32 614.90 Td (is ) Tj ET Q q 0 0 0 rg BT 267.69 614.90 Td (deemed ) Tj ET Q q 0 0 0 rg BT 299.51 614.90 Td (to ) Tj ET Q q 0 0 0 rg BT 308.95 614.90 Td (have ) Tj ET Q q 0 0 0 rg BT 329.05 614.90 Td (a ) Tj ET Q q 0 0 0 rg BT 335.28 614.90 Td (controlling ) Tj ET Q q 0 0 0 rg BT 379.38 614.90 Td (financial ) Tj ET Q q 0 0 0 rg BT 414.93 614.90 Td (interest ) Tj ET Q q 0 0 0 rg BT 445.15 614.90 Td (when ) Tj ET Q q 0 0 0 rg BT 467.92 614.90 Td (it ) Tj ET Q q 0 0 0 rg BT 475.23 614.90 Td (has ) Tj ET Q q 0 0 0 rg BT 489.99 614.90 Td (both ) Tj ET Q q 0 0 0 rg BT 509.03 614.90 Td (the ) Tj ET Q q 0 0 0 rg BT 522.73 614.90 Td (ability ) Tj ET Q q 0 0 0 rg BT 549.23 614.90 Td (to ) Tj ET Q q 0 0 0 rg BT 558.67 614.90 Td (direct ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 603.35 Td (the ) Tj ET Q q 0 0 0 rg BT 45.51 603.35 Td (activities ) Tj ET Q q 0 0 0 rg BT 82.44 603.35 Td (that ) Tj ET Q q 0 0 0 rg BT 99.11 603.35 Td (most ) Tj ET Q q 0 0 0 rg BT 120.06 603.35 Td (significantly ) Tj ET Q q 0 0 0 rg BT 170.33 603.35 Td (impact ) Tj ET Q q 0 0 0 rg BT 198.74 603.35 Td (the ) Tj ET Q q 0 0 0 rg BT 212.74 603.35 Td (economic ) Tj ET Q q 0 0 0 rg BT 252.34 603.35 Td (performance ) Tj ET Q q 0 0 0 rg BT 303.12 603.35 Td (of ) Tj ET Q q 0 0 0 rg BT 313.40 603.35 Td (the ) Tj ET Q q 0 0 0 rg BT 327.24 603.35 Td (VIE ) Tj ET Q q 0 0 0 rg BT 345.51 603.35 Td (and ) Tj ET Q q 0 0 0 rg BT 361.65 603.35 Td (the ) Tj ET Q q 0 0 0 rg BT 375.66 603.35 Td (obligation ) Tj ET Q q 0 0 0 rg BT 416.87 603.35 Td (to ) Tj ET Q q 0 0 0 rg BT 426.62 603.35 Td (absorb ) Tj ET Q q 0 0 0 rg BT 454.49 603.35 Td (losses ) Tj ET Q q 0 0 0 rg BT 479.71 603.35 Td (or ) Tj ET Q q 0 0 0 rg BT 489.98 603.35 Td (right ) Tj ET Q q 0 0 0 rg BT 510.39 603.35 Td (to ) Tj ET Q q 0 0 0 rg BT 520.14 603.35 Td (receive ) Tj ET Q q 0 0 0 rg BT 550.13 603.35 Td (benefits ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 591.85 Td (from ) Tj ET Q q 0 0 0 rg BT 52.48 591.85 Td (the ) Tj ET Q q 0 0 0 rg BT 66.36 591.85 Td (VIE ) Tj ET Q q 0 0 0 rg BT 84.67 591.85 Td (that ) Tj ET Q q 0 0 0 rg BT 101.38 591.85 Td (could ) Tj ET Q q 0 0 0 rg BT 125.03 591.85 Td (potentially ) Tj ET Q q 0 0 0 rg BT 168.40 591.85 Td (be ) Tj ET Q q 0 0 0 rg BT 179.78 591.85 Td (significant ) Tj ET Q q 0 0 0 rg BT 222.62 591.85 Td (to ) Tj ET Q q 0 0 0 rg BT 232.41 591.85 Td (the ) Tj ET Q q 0 0 0 rg BT 246.29 591.85 Td (VIE. ) Tj ET Q q 0 0 0 rg BT 267.00 591.85 Td (Based ) Tj ET Q q 0 0 0 rg BT 292.78 591.85 Td (on ) Tj ET Q q 0 0 0 rg BT 304.70 591.85 Td (the ) Tj ET Q q 0 0 0 rg BT 318.74 591.85 Td (Company) Tj ET Q q 0 0 0 rg BT 358.74 591.85 Td (s ) Tj ET Q q 0 0 0 rg BT 364.80 591.85 Td (assessment, ) Tj ET Q q 0 0 0 rg BT 412.17 591.85 Td (if ) Tj ET Q q 0 0 0 rg BT 420.36 591.85 Td (it ) Tj ET Q q 0 0 0 rg BT 428.01 591.85 Td (determines ) Tj ET Q q 0 0 0 rg BT 472.44 591.85 Td (it ) Tj ET Q q 0 0 0 rg BT 480.09 591.85 Td (is ) Tj ET Q q 0 0 0 rg BT 488.81 591.85 Td (the ) Tj ET Q q 0 0 0 rg BT 502.86 591.85 Td (primary ) Tj ET Q q 0 0 0 rg BT 535.57 591.85 Td (beneficiary) Tj ET Q q 0 0 0 rg BT 578.12 591.85 Td (, ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 580.30 Td (the ) Tj ET Q q 0 0 0 rg BT 45.63 580.30 Td (Company ) Tj ET Q q 0 0 0 rg BT 85.36 580.30 Td (consolidates ) Tj ET Q q 0 0 0 rg BT 135.22 580.30 Td (the ) Tj ET Q q 0 0 0 rg BT 149.17 580.30 Td (VIE ) Tj ET Q q 0 0 0 rg BT 167.56 580.30 Td (in ) Tj ET Q q 0 0 0 rg BT 177.43 580.30 Td (the ) Tj ET Q q 0 0 0 rg BT 191.56 580.30 Td (Company) Tj ET Q q 0 0 0 rg BT 231.56 580.30 Td (s ) Tj ET Q q 0 0 0 rg BT 237.70 580.30 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 290.76 580.30 Td (Financial ) Tj ET Q q 0 0 0 rg BT 328.88 580.30 Td (Statements.) Tj ET Q BT /F4 9.60 Tf ET q 0 0 0 rg BT 31.50 562.80 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 85.10 562.80 Td (VIEs) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 545.30 Td (The ) Tj ET Q q 0 0 0 rg BT 49.20 545.30 Td (following ) Tj ET Q q 0 0 0 rg BT 89.30 545.30 Td (table ) Tj ET Q q 0 0 0 rg BT 110.73 545.30 Td (presents ) Tj ET Q q 0 0 0 rg BT 144.96 545.30 Td (the ) Tj ET Q q 0 0 0 rg BT 159.46 545.30 Td (carrying ) Tj ET Q q 0 0 0 rg BT 194.21 545.30 Td (value ) Tj ET Q q 0 0 0 rg BT 217.77 545.30 Td (of ) Tj ET Q q 0 0 0 rg BT 228.54 545.30 Td (assets ) Tj ET Q q 0 0 0 rg BT 253.71 545.30 Td (and ) Tj ET Q q 0 0 0 rg BT 270.34 545.30 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 311.24 545.30 Td (and ) Tj ET Q q 0 0 0 rg BT 327.87 545.30 Td (the ) Tj ET Q q 0 0 0 rg BT 342.37 545.30 Td (maximum ) Tj ET Q q 0 0 0 rg BT 384.07 545.30 Td (exposure ) Tj ET Q q 0 0 0 rg BT 421.50 545.30 Td (to ) Tj ET Q q 0 0 0 rg BT 431.74 545.30 Td (loss ) Tj ET Q q 0 0 0 rg BT 449.45 545.30 Td (relating ) Tj ET Q q 0 0 0 rg BT 481.54 545.30 Td (to ) Tj ET Q q 0 0 0 rg BT 491.78 545.30 Td (the ) Tj ET Q q 0 0 0 rg BT 506.08 545.30 Td (VIEs ) Tj ET Q q 0 0 0 rg BT 528.58 545.30 Td (for ) Tj ET Q q 0 0 0 rg BT 542.54 545.30 Td (which ) Tj ET Q q 0 0 0 rg BT 568.78 545.30 Td (the ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 533.75 Td (Company ) Tj ET Q q 0 0 0 rg BT 70.70 533.75 Td (is ) Tj ET Q q 0 0 0 rg BT 78.97 533.75 Td (the ) Tj ET Q q 0 0 0 rg BT 92.57 533.75 Td (primary ) Tj ET Q q 0 0 0 rg BT 124.83 533.75 Td (beneficiary) Tj ET Q q 0 0 0 rg BT 167.38 533.75 Td (. ) Tj ET Q q 0 0 0 rg BT 171.65 533.75 Td (Creditors ) Tj ET Q q 0 0 0 rg BT 209.24 533.75 Td (have ) Tj ET Q q 0 0 0 rg BT 229.23 533.75 Td (no ) Tj ET Q q 0 0 0 rg BT 240.70 533.75 Td (recourse ) Tj ET Q q 0 0 0 rg BT 275.09 533.75 Td (against ) Tj ET Q q 0 0 0 rg BT 304.15 533.75 Td (the ) Tj ET Q q 0 0 0 rg BT 317.74 533.75 Td (Company ) Tj ET Q q 0 0 0 rg BT 356.95 533.75 Td (in ) Tj ET Q q 0 0 0 rg BT 366.28 533.75 Td (the ) Tj ET Q q 0 0 0 rg BT 379.88 533.75 Td (event ) Tj ET Q q 0 0 0 rg BT 402.54 533.75 Td (of ) Tj ET Q q 0 0 0 rg BT 412.40 533.75 Td (default ) Tj ET Q q 0 0 0 rg BT 440.93 533.75 Td (by ) Tj ET Q q 0 0 0 rg BT 452.40 533.75 Td (these ) Tj ET Q q 0 0 0 rg BT 473.85 533.75 Td (VIEs ) Tj ET Q q 0 0 0 rg BT 495.45 533.75 Td (nor ) Tj ET Q q 0 0 0 rg BT 510.12 533.75 Td (does ) Tj ET Q q 0 0 0 rg BT 529.59 533.75 Td (the ) Tj ET Q q 0 0 0 rg BT 543.18 533.75 Td (Company ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 522.25 Td (have ) Tj ET Q q 0 0 0 rg BT 52.46 522.25 Td (any ) Tj ET Q q 0 0 0 rg BT 69.17 522.25 Td (implied ) Tj ET Q q 0 0 0 rg BT 101.34 522.25 Td (or ) Tj ET Q q 0 0 0 rg BT 112.18 522.25 Td (unfunded ) Tj ET Q q 0 0 0 rg BT 151.28 522.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 206.38 522.25 Td (to ) Tj ET Q q 0 0 0 rg BT 216.69 522.25 Td (these ) Tj ET Q q 0 0 0 rg BT 239.05 522.25 Td (VIEs. ) Tj ET Q q 0 0 0 rg BT 263.82 522.25 Td (The ) Tj ET Q q 0 0 0 rg BT 281.58 522.25 Td (Company) Tj ET Q q 0 0 0 rg BT 321.58 522.25 Td (s ) Tj ET Q q 0 0 0 rg BT 328.16 522.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 364.58 522.25 Td (or ) Tj ET Q q 0 0 0 rg BT 375.42 522.25 Td (other ) Tj ET Q q 0 0 0 rg BT 397.99 522.25 Td (support ) Tj ET Q q 0 0 0 rg BT 429.63 522.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 466.60 522.25 Td (to ) Tj ET Q q 0 0 0 rg BT 476.91 522.25 Td (these ) Tj ET Q q 0 0 0 rg BT 499.27 522.25 Td (VIEs ) Tj ET Q q 0 0 0 rg BT 521.84 522.25 Td (is ) Tj ET Q q 0 0 0 rg BT 531.09 522.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 561.12 522.25 Td (to ) Tj ET Q q 0 0 0 rg BT 571.43 522.25 Td (its ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 510.70 Td (collateral ) Tj ET Q q 0 0 0 rg BT 69.61 510.70 Td (or ) Tj ET Q q 0 0 0 rg BT 80.00 510.70 Td (investment ) Tj ET Q q 0 0 0 rg BT 124.53 510.70 Td (management ) Tj ET Q q 0 0 0 rg BT 175.98 510.70 Td (services ) Tj ET Q q 0 0 0 rg BT 209.29 510.70 Td (and ) Tj ET Q q 0 0 0 rg BT 225.56 510.70 Td (original ) Tj ET Q q 0 0 0 rg BT 257.81 510.70 Td (investment.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 450.20 165.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.00 450.20 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 450.20 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 450.20 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 450.20 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 450.20 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 450.20 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 425.20 165.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 197.00 425.20 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 261.00 425.20 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 325.00 425.20 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 425.20 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 453.00 425.20 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 517.00 425.20 64.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 197 482.2 m 261 482.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 261 482.2 m 325 482.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 325 482.2 m 389 482.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 482.2 m 453 482.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 453 482.2 m 517 482.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517 482.2 m 581 482.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 197 482.2 m 261 482.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 197 450.2 m 261 450.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 261 482.2 m 325 482.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 261 450.2 m 325 450.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 325 482.2 m 389 482.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 325 450.2 m 389 450.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 482.2 m 453 482.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 450.2 m 453 450.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 453 482.2 m 517 482.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 453 450.2 m 517 450.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517 482.2 m 581 482.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517 450.2 m 581 450.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 412.2 m 197 412.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 400.2 m 197 400.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 197 412.2 m 261 412.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 197 400.2 m 261 400.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 261 412.2 m 325 412.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261 400.2 m 325 400.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 325 412.2 m 389 412.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 325 400.2 m 389 400.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 412.2 m 453 412.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 400.2 m 453 400.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 453 412.2 m 517 412.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 400.2 m 517 400.2 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517 412.2 m 581 412.2 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 517 400.2 m 581 400.2 l s BT /F2 9.60 Tf ET q 0 0 0 rg BT 34.50 485.04 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 256.20 485.60 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 448.20 485.60 Td (December 31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 205.75 454.65 Td (Total Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.65 463.65 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 266.85 454.65 Td (Liabilities [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 336.50 472.65 Td (Maximum) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 333.45 463.65 Td (Exposure to) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 341.35 454.65 Td (Loss [2]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 397.75 454.65 Td (Total Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 474.65 463.65 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.85 454.65 Td (Liabilities [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 528.50 472.65 Td (Maximum) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.45 463.65 Td (Exposure to) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 533.35 454.65 Td (Loss [2]) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 34.50 441.04 Td (CDOs [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.50 440.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 247.15 440.82 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.50 440.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 311.15 440.82 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.50 440.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 440.82 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.50 440.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.15 440.82 Td (89) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.50 440.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.15 440.82 Td (88) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.50 440.82 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 440.82 Td (7) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 34.50 429.04 Td (Investment funds [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.15 428.77 Td (164) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 311.15 428.77 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 428.77 Td (173) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.15 428.77 Td (163) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.15 428.77 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 428.77 Td (162) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 34.50 416.04 Td (Limited partnerships) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.15 415.77 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 311.15 415.77 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.15 415.77 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.15 415.77 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 415.77 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 415.77 Td (5) Tj ET Q BT /F3 9.60 Tf ET q 0 0 0 rg BT 34.50 403.20 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 199.50 402.93 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 242.15 402.93 Td (199) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.50 402.93 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 311.15 402.93 Td (33) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 327.50 402.93 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.15 402.93 Td (177) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 402.93 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.15 402.93 Td (258) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 455.50 402.93 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.15 402.93 Td (89) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.50 402.93 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 402.93 Td (174) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 383.90 Td ([1] Included in other liabilities in the Company) Tj ET Q q 0 0 0 rg BT 204.57 383.90 Td (s Consolidated Balance Sheets.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 373.10 Td ([2] The maximum exposur) Tj ET Q q 0 0 0 rg BT 126.41 373.10 Td (e to loss r) Tj ET Q q 0 0 0 rg BT 161.33 373.10 Td (epr) Tj ET Q q 0 0 0 rg BT 172.99 373.10 Td (esents the maximum loss amount that the Company could r) Tj ET Q q 0 0 0 rg BT 384.89 373.10 Td (ecognize as a r) Tj ET Q q 0 0 0 rg BT 438.79 373.10 Td (eduction in net investment income or ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 362.30 Td (as a r) Tj ET Q q 0 0 0 rg BT 69.67 362.30 Td (ealized capital loss and is the cost basis of the Company) Tj ET Q q 0 0 0 rg BT 274.50 362.30 Td (s investment.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 351.50 Td ([3] T) Tj ET Q q 0 0 0 rg BT 49.43 351.50 Td (otal assets included in fixed maturities, ) Tj ET Q q 0 0 0 rg BT 192.51 351.50 Td (AFS in the Company) Tj ET Q q 0 0 0 rg BT 269.08 351.50 Td (s Consolidated Balance Sheets.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 340.70 Td ([4] T) Tj ET Q q 0 0 0 rg BT 49.43 340.70 Td (otal assets included in fixed maturities, FV) Tj ET Q q 0 0 0 rg BT 203.40 340.70 Td (O, short-term investments, and equity) Tj ET Q q 0 0 0 rg BT 338.38 340.70 Td (, ) Tj ET Q q 0 0 0 rg BT 342.72 340.70 Td (AFS in the Company's Consolidated Balance Sheets.) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 323.20 Td (CDOs ) Tj ET Q q 0 0 0 rg BT 57.84 323.20 Td (represent ) Tj ET Q q 0 0 0 rg BT 95.35 323.20 Td (structured ) Tj ET Q q 0 0 0 rg BT 136.07 323.20 Td (investment ) Tj ET Q q 0 0 0 rg BT 180.52 323.20 Td (vehicles ) Tj ET Q q 0 0 0 rg BT 214.31 323.20 Td (for ) Tj ET Q q 0 0 0 rg BT 227.84 323.20 Td (which ) Tj ET Q q 0 0 0 rg BT 253.63 323.20 Td (the ) Tj ET Q q 0 0 0 rg BT 267.69 323.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 307.35 323.20 Td (has ) Tj ET Q q 0 0 0 rg BT 322.48 323.20 Td (a ) Tj ET Q q 0 0 0 rg BT 329.08 323.20 Td (controlling ) Tj ET Q q 0 0 0 rg BT 373.53 323.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 409.45 323.20 Td (interest ) Tj ET Q q 0 0 0 rg BT 440.03 323.20 Td (as ) Tj ET Q q 0 0 0 rg BT 450.36 323.20 Td (it ) Tj ET Q q 0 0 0 rg BT 458.03 323.20 Td (provides ) Tj ET Q q 0 0 0 rg BT 493.42 323.20 Td (collateral ) Tj ET Q q 0 0 0 rg BT 531.46 323.20 Td (management ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 311.70 Td (services, ) Tj ET Q q 0 0 0 rg BT 67.17 311.70 Td (earns ) Tj ET Q q 0 0 0 rg BT 89.78 311.70 Td (a ) Tj ET Q q 0 0 0 rg BT 96.40 311.70 Td (fee ) Tj ET Q q 0 0 0 rg BT 110.47 311.70 Td (for ) Tj ET Q q 0 0 0 rg BT 124.02 311.70 Td (those ) Tj ET Q q 0 0 0 rg BT 146.63 311.70 Td (services ) Tj ET Q q 0 0 0 rg BT 179.91 311.70 Td (and ) Tj ET Q q 0 0 0 rg BT 196.12 311.70 Td (also ) Tj ET Q q 0 0 0 rg BT 213.94 311.70 Td (holds ) Tj ET Q q 0 0 0 rg BT 237.10 311.70 Td (investments ) Tj ET Q q 0 0 0 rg BT 285.31 311.70 Td (in ) Tj ET Q q 0 0 0 rg BT 295.13 311.70 Td (the ) Tj ET Q q 0 0 0 rg BT 309.22 311.70 Td (securities ) Tj ET Q q 0 0 0 rg BT 347.82 311.70 Td (issued ) Tj ET Q q 0 0 0 rg BT 374.18 311.70 Td (by ) Tj ET Q q 0 0 0 rg BT 386.13 311.70 Td (these ) Tj ET Q q 0 0 0 rg BT 408.21 311.70 Td (vehicles. ) Tj ET Q q 0 0 0 rg BT 444.42 311.70 Td (Investment ) Tj ET Q q 0 0 0 rg BT 489.43 311.70 Td (funds ) Tj ET Q q 0 0 0 rg BT 513.11 311.70 Td (represent ) Tj ET Q q 0 0 0 rg BT 550.65 311.70 Td (wholly-) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 300.15 Td (owned ) Tj ET Q q 0 0 0 rg BT 59.50 300.15 Td (fixed ) Tj ET Q q 0 0 0 rg BT 81.62 300.15 Td (income ) Tj ET Q q 0 0 0 rg BT 112.28 300.15 Td (funds ) Tj ET Q q 0 0 0 rg BT 136.02 300.15 Td (for ) Tj ET Q q 0 0 0 rg BT 149.62 300.15 Td (which ) Tj ET Q q 0 0 0 rg BT 175.48 300.15 Td (the ) Tj ET Q q 0 0 0 rg BT 189.61 300.15 Td (Company ) Tj ET Q q 0 0 0 rg BT 229.34 300.15 Td (has ) Tj ET Q q 0 0 0 rg BT 244.54 300.15 Td (management ) Tj ET Q q 0 0 0 rg BT 295.99 300.15 Td (and ) Tj ET Q q 0 0 0 rg BT 312.25 300.15 Td (control ) Tj ET Q q 0 0 0 rg BT 341.85 300.15 Td (of ) Tj ET Q q 0 0 0 rg BT 352.25 300.15 Td (the ) Tj ET Q q 0 0 0 rg BT 366.38 300.15 Td (investments ) Tj ET Q q 0 0 0 rg BT 414.64 300.15 Td (which ) Tj ET Q q 0 0 0 rg BT 440.51 300.15 Td (is ) Tj ET Q q 0 0 0 rg BT 449.31 300.15 Td (the ) Tj ET Q q 0 0 0 rg BT 463.44 300.15 Td (activity ) Tj ET Q q 0 0 0 rg BT 494.64 300.15 Td (that ) Tj ET Q q 0 0 0 rg BT 511.43 300.15 Td (most ) Tj ET Q q 0 0 0 rg BT 532.51 300.15 Td (significantly ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 288.65 Td (impacts ) Tj ET Q q 0 0 0 rg BT 63.79 288.65 Td (its ) Tj ET Q q 0 0 0 rg BT 75.29 288.65 Td (economic ) Tj ET Q q 0 0 0 rg BT 115.04 288.65 Td (performance. ) Tj ET Q q 0 0 0 rg BT 168.37 288.65 Td (Limited ) Tj ET Q q 0 0 0 rg BT 201.20 288.65 Td (partnerships ) Tj ET Q q 0 0 0 rg BT 250.55 288.65 Td (represent ) Tj ET Q q 0 0 0 rg BT 288.16 288.65 Td (one ) Tj ET Q q 0 0 0 rg BT 304.46 288.65 Td (hedge ) Tj ET Q q 0 0 0 rg BT 329.81 288.65 Td (fund ) Tj ET Q q 0 0 0 rg BT 349.84 288.65 Td (for ) Tj ET Q q 0 0 0 rg BT 363.47 288.65 Td (which ) Tj ET Q q 0 0 0 rg BT 389.36 288.65 Td (the ) Tj ET Q q 0 0 0 rg BT 403.52 288.65 Td (Company ) Tj ET Q q 0 0 0 rg BT 443.28 288.65 Td (holds ) Tj ET Q q 0 0 0 rg BT 466.52 288.65 Td (a ) Tj ET Q q 0 0 0 rg BT 473.21 288.65 Td (majority ) Tj ET Q q 0 0 0 rg BT 508.17 288.65 Td (interest ) Tj ET Q q 0 0 0 rg BT 538.85 288.65 Td (in ) Tj ET Q q 0 0 0 rg BT 548.75 288.65 Td (the ) Tj ET Q q 0 0 0 rg BT 562.91 288.65 Td (fund ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 277.10 Td (as ) Tj ET Q q 0 0 0 rg BT 41.90 277.10 Td (an ) Tj ET Q q 0 0 0 rg BT 53.36 277.10 Td (investment.) Tj ET Q BT /F4 9.60 Tf ET q 0 0 0 rg BT 31.50 259.60 Td (Non-Consolidated ) Tj ET Q q 0 0 0 rg BT 104.30 259.60 Td (VIEs) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 242.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.07 242.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 89.04 242.10 Td (holds ) Tj ET Q q 0 0 0 rg BT 112.49 242.10 Td (a ) Tj ET Q q 0 0 0 rg BT 119.40 242.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 162.56 242.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 196.12 242.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 227.02 242.10 Td (for ) Tj ET Q q 0 0 0 rg BT 240.86 242.10 Td (one ) Tj ET Q q 0 0 0 rg BT 257.17 242.10 Td (VIE ) Tj ET Q q 0 0 0 rg BT 275.81 242.10 Td (for ) Tj ET Q q 0 0 0 rg BT 289.65 242.10 Td (which ) Tj ET Q q 0 0 0 rg BT 315.75 242.10 Td (it ) Tj ET Q q 0 0 0 rg BT 323.73 242.10 Td (is ) Tj ET Q q 0 0 0 rg BT 332.77 242.10 Td (not ) Tj ET Q q 0 0 0 rg BT 347.69 242.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.06 242.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 395.09 242.10 Td (beneficiary ) Tj ET Q q 0 0 0 rg BT 440.90 242.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 459.81 242.10 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 499.49 242.10 Td (was ) Tj ET Q q 0 0 0 rg BT 517.07 242.10 Td (not ) Tj ET Q q 0 0 0 rg BT 531.98 242.10 Td (consolidated ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 230.55 Td (on ) Tj ET Q q 0 0 0 rg BT 43.25 230.55 Td (the ) Tj ET Q q 0 0 0 rg BT 57.14 230.55 Td (Company) Tj ET Q q 0 0 0 rg BT 97.14 230.55 Td (s ) Tj ET Q q 0 0 0 rg BT 103.03 230.55 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 155.84 230.55 Td (Balance ) Tj ET Q q 0 0 0 rg BT 188.91 230.55 Td (Sheets. ) Tj ET Q q 0 0 0 rg BT 218.37 230.55 Td (This ) Tj ET Q q 0 0 0 rg BT 237.44 230.55 Td (VIE ) Tj ET Q q 0 0 0 rg BT 255.58 230.55 Td (represents ) Tj ET Q q 0 0 0 rg BT 296.65 230.55 Td (a ) Tj ET Q q 0 0 0 rg BT 303.07 230.55 Td (contingent ) Tj ET Q q 0 0 0 rg BT 345.75 230.55 Td (capital ) Tj ET Q q 0 0 0 rg BT 373.48 230.55 Td (facility ) Tj ET Q q 0 0 0 rg BT 402.82 230.55 Td (\(facility\) ) Tj ET Q q 0 0 0 rg BT 447.08 230.55 Td (that ) Tj ET Q q 0 0 0 rg BT 463.63 230.55 Td (has ) Tj ET Q q 0 0 0 rg BT 478.58 230.55 Td (been ) Tj ET Q q 0 0 0 rg BT 498.85 230.55 Td (held ) Tj ET Q q 0 0 0 rg BT 517.54 230.55 Td (by ) Tj ET Q q 0 0 0 rg BT 529.29 230.55 Td (the ) Tj ET Q q 0 0 0 rg BT 543.17 230.55 Td (Company ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 218.55 Td (since ) Tj ET Q q 0 0 0 rg BT 53.58 218.55 Td (February2007 ) Tj ET Q q 0 0 0 rg BT 112.20 218.55 Td (for ) Tj ET Q q 0 0 0 rg BT 125.75 218.55 Td (which ) Tj ET Q q 0 0 0 rg BT 151.58 218.55 Td (the ) Tj ET Q q 0 0 0 rg BT 165.66 218.55 Td (Company ) Tj ET Q q 0 0 0 rg BT 205.36 218.55 Td (has ) Tj ET Q q 0 0 0 rg BT 220.51 218.55 Td (no ) Tj ET Q q 0 0 0 rg BT 232.47 218.55 Td (implied ) Tj ET Q q 0 0 0 rg BT 264.16 218.55 Td (or ) Tj ET Q q 0 0 0 rg BT 274.52 218.55 Td (unfunded ) Tj ET Q q 0 0 0 rg BT 313.14 218.55 Td (commitments. ) Tj ET Q q 0 0 0 rg BT 369.64 218.55 Td (Assets ) Tj ET Q q 0 0 0 rg BT 397.07 218.55 Td (and ) Tj ET Q q 0 0 0 rg BT 413.29 218.55 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 451.37 218.55 Td (recorded ) Tj ET Q q 0 0 0 rg BT 487.31 218.55 Td (for ) Tj ET Q q 0 0 0 rg BT 500.86 218.55 Td (the ) Tj ET Q q 0 0 0 rg BT 514.95 218.55 Td (facility ) Tj ET Q q 0 0 0 rg BT 544.50 218.55 Td (were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.51 218.55 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.51 218.55 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 580.51 218.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 206.55 Td (and ) Tj ET Q q 0 0 0 rg BT 49.09 206.55 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.09 206.55 Td (19) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 64.09 206.55 Td ( ) Tj ET Q q 0 0 0 rg BT 67.12 206.55 Td (as ) Tj ET Q q 0 0 0 rg BT 78.14 206.55 Td (of ) Tj ET Q q 0 0 0 rg BT 89.16 206.55 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 146.03 206.55 Td (2013) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 166.03 206.55 Td (, ) Tj ET Q q 0 0 0 rg BT 171.45 206.55 Td (respectively) Tj ET Q q 0 0 0 rg BT 217.21 206.55 Td (, ) Tj ET Q q 0 0 0 rg BT 222.63 206.55 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.52 206.55 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 244.52 206.55 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.52 206.55 Td ( ) Tj ET Q q 0 0 0 rg BT 257.67 206.55 Td (and ) Tj ET Q q 0 0 0 rg BT 275.26 206.55 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 280.26 206.55 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.26 206.55 Td (, ) Tj ET Q q 0 0 0 rg BT 295.92 206.55 Td (respectively) Tj ET Q q 0 0 0 rg BT 343.58 206.55 Td (,) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 346.08 206.55 Td ( ) Tj ET Q q 0 0 0 rg BT 349.10 206.55 Td (as ) Tj ET Q q 0 0 0 rg BT 360.12 206.55 Td (of ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 371.15 206.55 Td (December31, ) Tj ET Q q 0 0 0 rg BT 428.01 206.55 Td (2012) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 447.22 206.55 Td (. ) Tj ET Q q 0 0 0 rg BT 451.97 206.55 Td (Additionally) Tj ET Q q 0 0 0 rg BT 499.88 206.55 Td (, ) Tj ET Q q 0 0 0 rg BT 505.31 206.55 Td (the ) Tj ET Q q 0 0 0 rg BT 520.06 206.55 Td (Company ) Tj ET Q q 0 0 0 rg BT 560.42 206.55 Td (has ) Tj ET Q q 0 0 0 rg BT 576.24 206.55 Td (a ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 194.55 Td (maximum ) Tj ET Q q 0 0 0 rg BT 73.53 194.55 Td (exposure ) Tj ET Q q 0 0 0 rg BT 111.28 194.55 Td (to ) Tj ET Q q 0 0 0 rg BT 121.85 194.55 Td (loss ) Tj ET Q q 0 0 0 rg BT 139.88 194.55 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 150.98 194.55 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 155.98 194.55 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 160.98 194.55 Td ( ) Tj ET Q q 0 0 0 rg BT 164.21 194.55 Td (and ) Tj ET Q q 0 0 0 rg BT 181.87 194.55 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.87 194.55 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.87 194.55 Td (, ) Tj ET Q q 0 0 0 rg BT 197.60 194.55 Td (respectively) Tj ET Q q 0 0 0 rg BT 245.26 194.55 Td (, ) Tj ET Q q 0 0 0 rg BT 250.99 194.55 Td (as ) Tj ET Q q 0 0 0 rg BT 262.55 194.55 Td (of ) Tj ET Q q 0 0 0 rg BT 274.10 194.55 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.33 194.55 Td (December31, ) Tj ET Q q 0 0 0 rg BT 336.64 194.55 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.64 194.55 Td ( ) Tj ET Q q 0 0 0 rg BT 359.87 194.55 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.54 194.55 Td (2012) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 397.54 194.55 Td (, ) Tj ET Q q 0 0 0 rg BT 403.04 194.55 Td (which ) Tj ET Q q 0 0 0 rg BT 429.59 194.55 Td (represents ) Tj ET Q q 0 0 0 rg BT 471.61 194.55 Td (the ) Tj ET Q q 0 0 0 rg BT 486.43 194.55 Td (issuance ) Tj ET Q q 0 0 0 rg BT 522.05 194.55 Td (costs ) Tj ET Q q 0 0 0 rg BT 544.35 194.55 Td (that ) Tj ET Q q 0 0 0 rg BT 561.84 194.55 Td (were ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 183.05 Td (incurred ) Tj ET Q q 0 0 0 rg BT 65.99 183.05 Td (to ) Tj ET Q q 0 0 0 rg BT 75.96 183.05 Td (establish ) Tj ET Q q 0 0 0 rg BT 112.06 183.05 Td (the ) Tj ET Q q 0 0 0 rg BT 126.29 183.05 Td (facility) Tj ET Q q 0 0 0 rg BT 152.85 183.05 Td (. ) Tj ET Q q 0 0 0 rg BT 157.58 183.05 Td (The ) Tj ET Q q 0 0 0 rg BT 175.01 183.05 Td (Company ) Tj ET Q q 0 0 0 rg BT 214.84 183.05 Td (does ) Tj ET Q q 0 0 0 rg BT 234.94 183.05 Td (not ) Tj ET Q q 0 0 0 rg BT 249.72 183.05 Td (have ) Tj ET Q q 0 0 0 rg BT 270.34 183.05 Td (a ) Tj ET Q q 0 0 0 rg BT 277.11 183.05 Td (controlling ) Tj ET Q q 0 0 0 rg BT 321.74 183.05 Td (financial ) Tj ET Q q 0 0 0 rg BT 357.82 183.05 Td (interest ) Tj ET Q q 0 0 0 rg BT 388.58 183.05 Td (as ) Tj ET Q q 0 0 0 rg BT 399.09 183.05 Td (it ) Tj ET Q q 0 0 0 rg BT 406.92 183.05 Td (does ) Tj ET Q q 0 0 0 rg BT 427.03 183.05 Td (not ) Tj ET Q q 0 0 0 rg BT 441.80 183.05 Td (manage ) Tj ET Q q 0 0 0 rg BT 474.15 183.05 Td (the ) Tj ET Q q 0 0 0 rg BT 488.38 183.05 Td (assets ) Tj ET Q q 0 0 0 rg BT 513.28 183.05 Td (of ) Tj ET Q q 0 0 0 rg BT 523.79 183.05 Td (the ) Tj ET Q q 0 0 0 rg BT 538.02 183.05 Td (facility ) Tj ET Q q 0 0 0 rg BT 567.71 183.05 Td (nor ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 171.50 Td (does ) Tj ET Q q 0 0 0 rg BT 51.17 171.50 Td (it ) Tj ET Q q 0 0 0 rg BT 58.58 171.50 Td (have ) Tj ET Q q 0 0 0 rg BT 78.78 171.50 Td (the ) Tj ET Q q 0 0 0 rg BT 92.59 171.50 Td (obligation ) Tj ET Q q 0 0 0 rg BT 133.59 171.50 Td (to ) Tj ET Q q 0 0 0 rg BT 143.14 171.50 Td (absorb ) Tj ET Q q 0 0 0 rg BT 170.81 171.50 Td (losses ) Tj ET Q q 0 0 0 rg BT 195.82 171.50 Td (or ) Tj ET Q q 0 0 0 rg BT 205.90 171.50 Td (the ) Tj ET Q q 0 0 0 rg BT 219.70 171.50 Td (right ) Tj ET Q q 0 0 0 rg BT 239.91 171.50 Td (to ) Tj ET Q q 0 0 0 rg BT 249.45 171.50 Td (receive ) Tj ET Q q 0 0 0 rg BT 279.24 171.50 Td (benefits ) Tj ET Q q 0 0 0 rg BT 311.70 171.50 Td (that ) Tj ET Q q 0 0 0 rg BT 328.17 171.50 Td (could ) Tj ET Q q 0 0 0 rg BT 351.58 171.50 Td (potentially ) Tj ET Q q 0 0 0 rg BT 394.71 171.50 Td (be ) Tj ET Q q 0 0 0 rg BT 405.85 171.50 Td (significant ) Tj ET Q q 0 0 0 rg BT 448.45 171.50 Td (to ) Tj ET Q q 0 0 0 rg BT 457.99 171.50 Td (the ) Tj ET Q q 0 0 0 rg BT 471.80 171.50 Td (facility) Tj ET Q q 0 0 0 rg BT 498.36 171.50 Td (, ) Tj ET Q q 0 0 0 rg BT 502.84 171.50 Td (as ) Tj ET Q q 0 0 0 rg BT 512.91 171.50 Td (the ) Tj ET Q q 0 0 0 rg BT 526.72 171.50 Td (asset ) Tj ET Q q 0 0 0 rg BT 547.45 171.50 Td (manager ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 160.00 Td (has ) Tj ET Q q 0 0 0 rg BT 46.59 160.00 Td (significant ) Tj ET Q q 0 0 0 rg BT 89.41 160.00 Td (variable ) Tj ET Q q 0 0 0 rg BT 122.62 160.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 153.18 160.00 Td (in ) Tj ET Q q 0 0 0 rg BT 162.94 160.00 Td (the ) Tj ET Q q 0 0 0 rg BT 176.97 160.00 Td (vehicle. ) Tj ET Q q 0 0 0 rg BT 209.21 160.00 Td (The ) Tj ET Q q 0 0 0 rg BT 226.44 160.00 Td (Company) Tj ET Q q 0 0 0 rg BT 266.43 160.00 Td (s ) Tj ET Q q 0 0 0 rg BT 272.47 160.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 308.34 160.00 Td (or ) Tj ET Q q 0 0 0 rg BT 318.64 160.00 Td (other ) Tj ET Q q 0 0 0 rg BT 340.66 160.00 Td (support ) Tj ET Q q 0 0 0 rg BT 371.76 160.00 Td (provided ) Tj ET Q q 0 0 0 rg BT 408.18 160.00 Td (to ) Tj ET Q q 0 0 0 rg BT 417.95 160.00 Td (the ) Tj ET Q q 0 0 0 rg BT 431.97 160.00 Td (facility ) Tj ET Q q 0 0 0 rg BT 461.45 160.00 Td (is ) Tj ET Q q 0 0 0 rg BT 470.15 160.00 Td (limited ) Tj ET Q q 0 0 0 rg BT 499.65 160.00 Td (to ) Tj ET Q q 0 0 0 rg BT 509.41 160.00 Td (providing ) Tj ET Q q 0 0 0 rg BT 549.04 160.00 Td (ongoing ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 148.50 Td (support ) Tj ET Q q 0 0 0 rg BT 62.62 148.50 Td (to ) Tj ET Q q 0 0 0 rg BT 72.41 148.50 Td (cover ) Tj ET Q q 0 0 0 rg BT 96.06 148.50 Td (the ) Tj ET Q q 0 0 0 rg BT 110.11 148.50 Td (facility) Tj ET Q q 0 0 0 rg BT 139.96 148.50 Td (s ) Tj ET Q q 0 0 0 rg BT 146.02 148.50 Td (operating ) Tj ET Q q 0 0 0 rg BT 184.59 148.50 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 223.97 148.50 Td (For ) Tj ET Q q 0 0 0 rg BT 239.63 148.50 Td (further ) Tj ET Q q 0 0 0 rg BT 268.07 148.50 Td (information ) Tj ET Q q 0 0 0 rg BT 315.72 148.50 Td (on ) Tj ET Q q 0 0 0 rg BT 327.64 148.50 Td (the ) Tj ET Q q 0 0 0 rg BT 341.69 148.50 Td (facility) Tj ET Q q 0 0 0 rg BT 368.26 148.50 Td (, ) Tj ET Q q 0 0 0 rg BT 372.98 148.50 Td (see ) Tj ET Q q 0 0 0 rg BT 387.56 148.50 Td (Note ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 408.54 148.50 Td (13) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 418.14 148.50 Td ( ) Tj ET Q q 0 0 0 rg BT 420.47 148.50 Td (- ) Tj ET Q q 0 0 0 rg BT 425.99 148.50 Td (Debt ) Tj ET Q q 0 0 0 rg BT 446.97 148.50 Td (of ) Tj ET Q q 0 0 0 rg BT 457.29 148.50 Td (Notes ) Tj ET Q q 0 0 0 rg BT 482.01 148.50 Td (to ) Tj ET Q q 0 0 0 rg BT 491.80 148.50 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 544.78 148.50 Td (Financial ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 136.95 Td (Statements.) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 119.45 Td (In ) Tj ET Q q 0 0 0 rg BT 41.59 119.45 Td (addition, ) Tj ET Q q 0 0 0 rg BT 77.55 119.45 Td (the ) Tj ET Q q 0 0 0 rg BT 91.37 119.45 Td (Company) Tj ET Q q 0 0 0 rg BT 128.08 119.45 Td (, ) Tj ET Q q 0 0 0 rg BT 132.57 119.45 Td (through ) Tj ET Q q 0 0 0 rg BT 164.53 119.45 Td (normal ) Tj ET Q q 0 0 0 rg BT 193.81 119.45 Td (investment ) Tj ET Q q 0 0 0 rg BT 238.03 119.45 Td (activities, ) Tj ET Q q 0 0 0 rg BT 277.18 119.45 Td (makes ) Tj ET Q q 0 0 0 rg BT 303.79 119.45 Td (passive ) Tj ET Q q 0 0 0 rg BT 334.15 119.45 Td (investments ) Tj ET Q q 0 0 0 rg BT 382.10 119.45 Td (in ) Tj ET Q q 0 0 0 rg BT 391.66 119.45 Td (structured ) Tj ET Q q 0 0 0 rg BT 432.14 119.45 Td (securities ) Tj ET Q q 0 0 0 rg BT 470.49 119.45 Td (issued ) Tj ET Q q 0 0 0 rg BT 496.58 119.45 Td (by ) Tj ET Q q 0 0 0 rg BT 508.12 119.45 Td (VIEs ) Tj ET Q q 0 0 0 rg BT 529.94 119.45 Td (for ) Tj ET Q q 0 0 0 rg BT 543.23 119.45 Td (which ) Tj ET Q q 0 0 0 rg BT 568.78 119.45 Td (the ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 107.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 70.64 107.90 Td (is ) Tj ET Q q 0 0 0 rg BT 78.86 107.90 Td (not ) Tj ET Q q 0 0 0 rg BT 92.93 107.90 Td (the ) Tj ET Q q 0 0 0 rg BT 106.47 107.90 Td (manager ) Tj ET Q q 0 0 0 rg BT 141.33 107.90 Td (which ) Tj ET Q q 0 0 0 rg BT 166.60 107.90 Td (are ) Tj ET Q q 0 0 0 rg BT 180.13 107.90 Td (included ) Tj ET Q q 0 0 0 rg BT 215.00 107.90 Td (in ) Tj ET Q q 0 0 0 rg BT 223.88 107.90 Td (ABS, ) Tj ET Q q 0 0 0 rg BT 246.76 107.90 Td (CDOs, ) Tj ET Q q 0 0 0 rg BT 274.98 107.90 Td (CMBS ) Tj ET Q q 0 0 0 rg BT 303.47 107.90 Td (and ) Tj ET Q q 0 0 0 rg BT 319.14 107.90 Td (RMBS ) Tj ET Q q 0 0 0 rg BT 347.64 107.90 Td (in ) Tj ET Q q 0 0 0 rg BT 356.91 107.90 Td (the ) Tj ET Q q 0 0 0 rg BT 370.05 107.90 Td (A) Tj ET Q q 0 0 0 rg BT 376.27 107.90 Td (vailable-for) Tj ET Q q 0 0 0 rg BT 420.85 107.90 Td (-Sale ) Tj ET Q q 0 0 0 rg BT 442.39 107.90 Td (Securities ) Tj ET Q q 0 0 0 rg BT 482.06 107.90 Td (table ) Tj ET Q q 0 0 0 rg BT 502.52 107.90 Td (and ) Tj ET Q q 0 0 0 rg BT 518.19 107.90 Td (fixed ) Tj ET Q q 0 0 0 rg BT 539.73 107.90 Td (maturities, ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 96.40 Td (FVO, ) Tj ET Q q 0 0 0 rg BT 54.94 96.40 Td (in ) Tj ET Q q 0 0 0 rg BT 64.24 96.40 Td (the ) Tj ET Q q 0 0 0 rg BT 77.81 96.40 Td (Company) Tj ET Q q 0 0 0 rg BT 117.81 96.40 Td (s ) Tj ET Q q 0 0 0 rg BT 123.38 96.40 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 175.87 96.40 Td (Balance ) Tj ET Q q 0 0 0 rg BT 208.62 96.40 Td (Sheets. ) Tj ET Q q 0 0 0 rg BT 237.79 96.40 Td (The ) Tj ET Q q 0 0 0 rg BT 254.55 96.40 Td (Company ) Tj ET Q q 0 0 0 rg BT 293.72 96.40 Td (has ) Tj ET Q q 0 0 0 rg BT 308.35 96.40 Td (not ) Tj ET Q q 0 0 0 rg BT 322.45 96.40 Td (provided ) Tj ET Q q 0 0 0 rg BT 358.41 96.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 393.83 96.40 Td (or ) Tj ET Q q 0 0 0 rg BT 403.66 96.40 Td (other ) Tj ET Q q 0 0 0 rg BT 425.22 96.40 Td (support ) Tj ET Q q 0 0 0 rg BT 455.86 96.40 Td (with ) Tj ET Q q 0 0 0 rg BT 474.76 96.40 Td (respect ) Tj ET Q q 0 0 0 rg BT 503.77 96.40 Td (to ) Tj ET Q q 0 0 0 rg BT 513.08 96.40 Td (these ) Tj ET Q q 0 0 0 rg BT 534.64 96.40 Td (investments ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 84.90 Td (other ) Tj ET Q q 0 0 0 rg BT 53.40 84.90 Td (than ) Tj ET Q q 0 0 0 rg BT 72.10 84.90 Td (its ) Tj ET Q q 0 0 0 rg BT 83.34 84.90 Td (original ) Tj ET Q q 0 0 0 rg BT 115.37 84.90 Td (investment. ) Tj ET Q q 0 0 0 rg BT 162.07 84.90 Td (For ) Tj ET Q q 0 0 0 rg BT 177.57 84.90 Td (these ) Tj ET Q q 0 0 0 rg BT 199.47 84.90 Td (investments, ) Tj ET Q q 0 0 0 rg BT 249.90 84.90 Td (the ) Tj ET Q q 0 0 0 rg BT 263.80 84.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 303.31 84.90 Td (determined ) Tj ET Q q 0 0 0 rg BT 348.66 84.90 Td (it ) Tj ET Q q 0 0 0 rg BT 356.16 84.90 Td (is ) Tj ET Q q 0 0 0 rg BT 364.74 84.90 Td (not ) Tj ET Q q 0 0 0 rg BT 379.18 84.90 Td (the ) Tj ET Q q 0 0 0 rg BT 393.08 84.90 Td (primary ) Tj ET Q q 0 0 0 rg BT 425.64 84.90 Td (beneficiary ) Tj ET Q q 0 0 0 rg BT 470.98 84.90 Td (due ) Tj ET Q q 0 0 0 rg BT 487.01 84.90 Td (to ) Tj ET Q q 0 0 0 rg BT 496.65 84.90 Td (the ) Tj ET Q q 0 0 0 rg BT 510.55 84.90 Td (relative ) Tj ET Q q 0 0 0 rg BT 541.50 84.90 Td (size ) Tj ET Q q 0 0 0 rg BT 558.60 84.90 Td (of ) Tj ET Q q 0 0 0 rg BT 568.77 84.90 Td (the ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 73.35 Td (Company) Tj ET Q q 0 0 0 rg BT 71.50 73.35 Td (s ) Tj ET Q q 0 0 0 rg BT 77.94 73.35 Td (investment ) Tj ET Q q 0 0 0 rg BT 122.77 73.35 Td (in ) Tj ET Q q 0 0 0 rg BT 132.95 73.35 Td (comparison ) Tj ET Q q 0 0 0 rg BT 180.44 73.35 Td (to ) Tj ET Q q 0 0 0 rg BT 190.61 73.35 Td (the ) Tj ET Q q 0 0 0 rg BT 205.05 73.35 Td (principal ) Tj ET Q q 0 0 0 rg BT 241.87 73.35 Td (amount ) Tj ET Q q 0 0 0 rg BT 273.37 73.35 Td (of ) Tj ET Q q 0 0 0 rg BT 284.08 73.35 Td (the ) Tj ET Q q 0 0 0 rg BT 298.51 73.35 Td (structured ) Tj ET Q q 0 0 0 rg BT 339.60 73.35 Td (securities ) Tj ET Q q 0 0 0 rg BT 378.56 73.35 Td (issued ) Tj ET Q q 0 0 0 rg BT 405.27 73.35 Td (by ) Tj ET Q q 0 0 0 rg BT 417.57 73.35 Td (the ) Tj ET Q q 0 0 0 rg BT 431.81 73.35 Td (VIEs, ) Tj ET Q q 0 0 0 rg BT 456.65 73.35 Td (the ) Tj ET Q q 0 0 0 rg BT 471.08 73.35 Td (level ) Tj ET Q q 0 0 0 rg BT 492.44 73.35 Td (of ) Tj ET Q q 0 0 0 rg BT 503.14 73.35 Td (credit ) Tj ET Q q 0 0 0 rg BT 527.70 73.35 Td (subordination ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 61.85 Td (which ) Tj ET Q q 0 0 0 rg BT 56.96 61.85 Td (reduces ) Tj ET Q q 0 0 0 rg BT 88.28 61.85 Td (the ) Tj ET Q q 0 0 0 rg BT 102.01 61.85 Td (Company) Tj ET Q q 0 0 0 rg BT 142.01 61.85 Td (s ) Tj ET Q q 0 0 0 rg BT 147.75 61.85 Td (obligation ) Tj ET Q q 0 0 0 rg BT 188.68 61.85 Td (to ) Tj ET Q q 0 0 0 rg BT 198.15 61.85 Td (absorb ) Tj ET Q q 0 0 0 rg BT 225.75 61.85 Td (losses ) Tj ET Q q 0 0 0 rg BT 250.69 61.85 Td (or ) Tj ET Q q 0 0 0 rg BT 260.69 61.85 Td (right ) Tj ET Q q 0 0 0 rg BT 280.82 61.85 Td (to ) Tj ET Q q 0 0 0 rg BT 290.29 61.85 Td (receive ) Tj ET Q q 0 0 0 rg BT 320.00 61.85 Td (benefits ) Tj ET Q q 0 0 0 rg BT 352.39 61.85 Td (and ) Tj ET Q q 0 0 0 rg BT 368.25 61.85 Td (the ) Tj ET Q q 0 0 0 rg BT 381.98 61.85 Td (Company) Tj ET Q q 0 0 0 rg BT 421.98 61.85 Td (s ) Tj ET Q q 0 0 0 rg BT 427.72 61.85 Td (inability ) Tj ET Q q 0 0 0 rg BT 461.72 61.85 Td (to ) Tj ET Q q 0 0 0 rg BT 471.19 61.85 Td (direct ) Tj ET Q q 0 0 0 rg BT 495.05 61.85 Td (the ) Tj ET Q q 0 0 0 rg BT 508.78 61.85 Td (activities ) Tj ET Q q 0 0 0 rg BT 545.43 61.85 Td (that ) Tj ET Q q 0 0 0 rg BT 561.83 61.85 Td (most ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 50.30 Td (significantly ) Tj ET Q q 0 0 0 rg BT 82.15 50.30 Td (impact ) Tj ET Q q 0 0 0 rg BT 110.94 50.30 Td (the ) Tj ET Q q 0 0 0 rg BT 125.33 50.30 Td (economic ) Tj ET Q q 0 0 0 rg BT 165.31 50.30 Td (performance ) Tj ET Q q 0 0 0 rg BT 216.47 50.30 Td (of ) Tj ET Q q 0 0 0 rg BT 227.13 50.30 Td (the ) Tj ET Q q 0 0 0 rg BT 241.33 50.30 Td (VIEs. ) Tj ET Q q 0 0 0 rg BT 265.93 50.30 Td (The ) Tj ET Q q 0 0 0 rg BT 283.52 50.30 Td (Company) Tj ET Q q 0 0 0 rg BT 323.52 50.30 Td (s ) Tj ET Q q 0 0 0 rg BT 329.92 50.30 Td (maximum ) Tj ET Q q 0 0 0 rg BT 371.51 50.30 Td (exposure ) Tj ET Q q 0 0 0 rg BT 408.83 50.30 Td (to ) Tj ET Q q 0 0 0 rg BT 418.96 50.30 Td (loss ) Tj ET Q q 0 0 0 rg BT 436.56 50.30 Td (on ) Tj ET Q q 0 0 0 rg BT 448.82 50.30 Td (these ) Tj ET Q q 0 0 0 rg BT 471.21 50.30 Td (investments ) Tj ET Q q 0 0 0 rg BT 519.73 50.30 Td (is ) Tj ET Q q 0 0 0 rg BT 528.80 50.30 Td (limited ) Tj ET Q q 0 0 0 rg BT 558.66 50.30 Td (to ) Tj ET Q q 0 0 0 rg BT 568.79 50.30 Td (the ) Tj ET Q BT /F2 9.60 Tf ET q 0 0 0 rg BT 31.50 38.80 Td (amount ) Tj ET Q q 0 0 0 rg BT 62.70 38.80 Td (of ) Tj ET Q q 0 0 0 rg BT 73.09 38.80 Td (the ) Tj ET Q q 0 0 0 rg BT 87.22 38.80 Td (Company) Tj ET Q q 0 0 0 rg BT 127.22 38.80 Td (s ) Tj ET Q q 0 0 0 rg BT 133.36 38.80 Td (investment.) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 377 0 obj <> endobj 378 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-52) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Repur) Tj ET Q q 0 0 0 rg BT 58.54 713.25 Td (chase ) Tj ET Q q 0 0 0 rg BT 84.37 713.25 Td (and ) Tj ET Q q 0 0 0 rg BT 102.99 713.25 Td (Dollar) Tj ET Q q 0 0 0 rg BT 130.03 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 132.53 713.25 Td (Roll ) Tj ET Q q 0 0 0 rg BT 152.26 713.25 Td (Agr) Tj ET Q q 0 0 0 rg BT 168.74 713.25 Td (eements ) Tj ET Q q 0 0 0 rg BT 205.67 713.25 Td (and ) Tj ET Q q 0 0 0 rg BT 224.29 713.25 Td (Other) Tj ET Q q 0 0 0 rg BT 249.65 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 252.15 713.25 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 297.24 713.25 Td (T) Tj ET Q q 0 0 0 rg BT 303.17 713.25 Td (ransactions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The ) Tj ET Q q 0 0 0 rg BT 49.52 695.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 90.88 695.25 Td (enters ) Tj ET Q q 0 0 0 rg BT 117.23 695.25 Td (into ) Tj ET Q q 0 0 0 rg BT 135.26 695.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 181.04 695.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 229.04 695.25 Td (and ) Tj ET Q q 0 0 0 rg BT 245.96 695.25 Td (dollar ) Tj ET Q q 0 0 0 rg BT 271.75 695.25 Td (roll ) Tj ET Q q 0 0 0 rg BT 288.11 695.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 338.35 695.25 Td (to ) Tj ET Q q 0 0 0 rg BT 348.60 695.25 Td (manage ) Tj ET Q q 0 0 0 rg BT 382.17 695.25 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 418.53 695.25 Td (or ) Tj ET Q q 0 0 0 rg BT 429.34 695.25 Td (to ) Tj ET Q q 0 0 0 rg BT 439.59 695.25 Td (earn ) Tj ET Q q 0 0 0 rg BT 459.27 695.25 Td (incremental ) Tj ET Q q 0 0 0 rg BT 508.94 695.25 Td (spread ) Tj ET Q q 0 0 0 rg BT 537.51 695.25 Td (income. ) Tj ET Q q 0 0 0 rg BT 571.92 695.25 Td ( ) Tj ET Q q 0 0 0 rg BT 573.84 695.25 Td (A) Tj ET Q q 0 0 0 rg BT 580.51 695.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 76.99 683.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 120.82 683.25 Td (is ) Tj ET Q q 0 0 0 rg BT 129.68 683.25 Td (a ) Tj ET Q q 0 0 0 rg BT 136.30 683.25 Td (transaction ) Tj ET Q q 0 0 0 rg BT 182.36 683.25 Td (in ) Tj ET Q q 0 0 0 rg BT 192.32 683.25 Td (which ) Tj ET Q q 0 0 0 rg BT 218.95 683.25 Td (one ) Tj ET Q q 0 0 0 rg BT 235.57 683.25 Td (party ) Tj ET Q q 0 0 0 rg BT 258.31 683.25 Td (\(transferor\) ) Tj ET Q q 0 0 0 rg BT 306.02 683.25 Td (agrees ) Tj ET Q q 0 0 0 rg BT 333.75 683.25 Td (to ) Tj ET Q q 0 0 0 rg BT 343.71 683.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 359.78 683.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 399.73 683.25 Td (to ) Tj ET Q q 0 0 0 rg BT 409.70 683.25 Td (another ) Tj ET Q q 0 0 0 rg BT 441.87 683.25 Td (party ) Tj ET Q q 0 0 0 rg BT 464.60 683.25 Td (\(transferee\) ) Tj ET Q q 0 0 0 rg BT 512.86 683.25 Td (in ) Tj ET Q q 0 0 0 rg BT 522.83 683.25 Td (return ) Tj ET Q q 0 0 0 rg BT 548.89 683.25 Td (for ) Tj ET Q q 0 0 0 rg BT 562.74 683.25 Td (cash ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (\(or ) Tj ET Q q 0 0 0 rg BT 45.53 671.25 Td (securities\), ) Tj ET Q q 0 0 0 rg BT 91.49 671.25 Td (with ) Tj ET Q q 0 0 0 rg BT 111.63 671.25 Td (a ) Tj ET Q q 0 0 0 rg BT 118.44 671.25 Td (simultaneous ) Tj ET Q q 0 0 0 rg BT 173.58 671.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 217.59 671.25 Td (to ) Tj ET Q q 0 0 0 rg BT 227.73 671.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 273.41 671.25 Td (the ) Tj ET Q q 0 0 0 rg BT 287.99 671.25 Td (same ) Tj ET Q q 0 0 0 rg BT 310.90 671.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 351.04 671.25 Td (at ) Tj ET Q q 0 0 0 rg BT 360.62 671.25 Td (a ) Tj ET Q q 0 0 0 rg BT 367.42 671.25 Td (specified ) Tj ET Q q 0 0 0 rg BT 405.89 671.25 Td (price ) Tj ET Q q 0 0 0 rg BT 428.24 671.25 Td (at ) Tj ET Q q 0 0 0 rg BT 437.82 671.25 Td (a ) Tj ET Q q 0 0 0 rg BT 444.63 671.25 Td (later ) Tj ET Q q 0 0 0 rg BT 464.76 671.25 Td (date. ) Tj ET Q q 0 0 0 rg BT 485.76 671.25 Td (A) Tj ET Q q 0 0 0 rg BT 492.43 671.25 Td ( ) Tj ET Q q 0 0 0 rg BT 494.80 671.25 Td (dollar ) Tj ET Q q 0 0 0 rg BT 520.49 671.25 Td (roll ) Tj ET Q q 0 0 0 rg BT 536.74 671.25 Td (is ) Tj ET Q q 0 0 0 rg BT 545.78 671.25 Td (a ) Tj ET Q q 0 0 0 rg BT 552.58 671.25 Td (type ) Tj ET Q q 0 0 0 rg BT 572.17 671.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 76.38 659.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 119.59 659.25 Td (where ) Tj ET Q q 0 0 0 rg BT 145.59 659.25 Td (a ) Tj ET Q q 0 0 0 rg BT 151.60 659.25 Td (mortgage ) Tj ET Q q 0 0 0 rg BT 190.94 659.25 Td (backed ) Tj ET Q q 0 0 0 rg BT 220.83 659.25 Td (security ) Tj ET Q q 0 0 0 rg BT 254.05 659.25 Td (is ) Tj ET Q q 0 0 0 rg BT 262.30 659.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 280.54 659.25 Td (with ) Tj ET Q q 0 0 0 rg BT 299.89 659.25 Td (an ) Tj ET Q q 0 0 0 rg BT 310.90 659.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 354.11 659.25 Td (to ) Tj ET Q q 0 0 0 rg BT 363.46 659.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 408.34 659.25 Td (substantially ) Tj ET Q q 0 0 0 rg BT 460.46 659.25 Td (the ) Tj ET Q q 0 0 0 rg BT 474.25 659.25 Td (same ) Tj ET Q q 0 0 0 rg BT 496.37 659.25 Td (security ) Tj ET Q q 0 0 0 rg BT 529.60 659.25 Td (at ) Tj ET Q q 0 0 0 rg BT 538.39 659.25 Td (a ) Tj ET Q q 0 0 0 rg BT 544.40 659.25 Td (specified ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (time ) Tj ET Q q 0 0 0 rg BT 50.73 647.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.96 647.25 Td (the ) Tj ET Q q 0 0 0 rg BT 73.62 647.25 Td (future. ) Tj ET Q q 0 0 0 rg BT 101.45 647.25 Td ( ) Tj ET Q q 0 0 0 rg BT 102.80 647.25 Td (These ) Tj ET Q q 0 0 0 rg BT 128.13 647.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 177.34 647.25 Td (are ) Tj ET Q q 0 0 0 rg BT 191.00 647.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 229.66 647.25 Td (short-term ) Tj ET Q q 0 0 0 rg BT 272.76 647.25 Td (in ) Tj ET Q q 0 0 0 rg BT 281.99 647.25 Td (nature, ) Tj ET Q q 0 0 0 rg BT 310.93 647.25 Td (and ) Tj ET Q q 0 0 0 rg BT 326.82 647.25 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 366.85 647.25 Td (the ) Tj ET Q q 0 0 0 rg BT 380.52 647.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 415.29 647.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 450.63 647.25 Td (of ) Tj ET Q q 0 0 0 rg BT 460.41 647.25 Td (these ) Tj ET Q q 0 0 0 rg BT 482.41 647.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 530.53 647.25 Td (approximate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 47.88 635.25 Td (value. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (As part of repurchase agreements and dollar roll transactions, the Company transfers collateral of U.S. government and government ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (agency securities and receives cash. For the repurchase agreements, the Company obtains cash in an amount equal to at least ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.43 605.25 Td (95%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.76 605.25 Td ( of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (fair value of the securities transferred. ) Tj ET Q q 0 0 0 rg BT 188.47 593.25 Td (The agreements contain contractual provisions that require additional collateral to be transferred ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (when necessary and provide the counterparty the right to sell or re-pledge the securities transferred. ) Tj ET Q q 0 0 0 rg BT 434.22 581.25 Td (The cash received from the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (repurchase program is typically invested in short-term investments or fixed maturities. Repurchase agreements include master netting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (provisions that provide the counterparties the right to set of) Tj ET Q q 0 0 0 rg BT 268.21 557.25 Td (f claims and apply securities held by them in respect of their obligations in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (the event of a default. ) Tj ET Q q 0 0 0 rg BT 123.22 545.25 Td (The Company accounts for the repurchase agreements and dollar roll transactions as collateralized borrowings. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (The securities transferred under repurchase agreements and dollar roll transactions are included in fixed maturities, ) Tj ET Q q 0 0 0 rg BT 493.54 533.25 Td (AFS with the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (obligation to repurchase those securities recorded in other liabilities on the Company's Consolidated Balance Sheets. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.25 Td (As ) Tj ET Q q 0 0 0 rg BT 45.13 503.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.97 503.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 114.57 503.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.57 503.25 Td (, ) Tj ET Q q 0 0 0 rg BT 139.58 503.25 Td (the ) Tj ET Q q 0 0 0 rg BT 154.31 503.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 195.71 503.25 Td (has ) Tj ET Q q 0 0 0 rg BT 211.56 503.25 Td (no ) Tj ET Q q 0 0 0 rg BT 224.07 503.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 273.25 503.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 319.07 503.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 367.11 503.25 Td (or ) Tj ET Q q 0 0 0 rg BT 377.96 503.25 Td (dollar ) Tj ET Q q 0 0 0 rg BT 403.80 503.25 Td (roll ) Tj ET Q q 0 0 0 rg BT 420.20 503.25 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 472.97 503.25 Td ( ) Tj ET Q q 0 0 0 rg BT 474.93 503.25 Td (As ) Tj ET Q q 0 0 0 rg BT 488.56 503.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.40 503.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 558.00 503.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 578.00 503.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (the ) Tj ET Q q 0 0 0 rg BT 46.03 491.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 87.23 491.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 122.85 491.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 160.15 491.25 Td (collateral ) Tj ET Q q 0 0 0 rg BT 199.66 491.25 Td (pledged ) Tj ET Q q 0 0 0 rg BT 233.62 491.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 266.48 491.25 Td (to ) Tj ET Q q 0 0 0 rg BT 276.57 491.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 322.19 491.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 370.03 491.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.67 491.25 Td ($923) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.67 491.25 Td ( ) Tj ET Q q 0 0 0 rg BT 402.98 491.25 Td (in ) Tj ET Q q 0 0 0 rg BT 413.07 491.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 435.93 491.25 Td (maturities, ) Tj ET Q q 0 0 0 rg BT 480.23 491.25 Td (AFS ) Tj ET Q q 0 0 0 rg BT 500.88 491.25 Td (on ) Tj ET Q q 0 0 0 rg BT 513.19 491.25 Td (the ) Tj ET Q q 0 0 0 rg BT 527.72 491.25 Td (Consolidated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (Balance ) Tj ET Q q 0 0 0 rg BT 67.63 479.25 Td (sheets. ) Tj ET Q q 0 0 0 rg BT 98.50 479.25 Td ( ) Tj ET Q q 0 0 0 rg BT 102.15 479.25 Td (The ) Tj ET Q q 0 0 0 rg BT 121.63 479.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 164.45 479.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 201.70 479.25 Td (a ) Tj ET Q q 0 0 0 rg BT 210.07 479.25 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 271.21 479.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 315.69 479.25 Td (to ) Tj ET Q q 0 0 0 rg BT 327.40 479.25 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 374.64 479.25 Td (these ) Tj ET Q q 0 0 0 rg BT 399.12 479.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 440.81 479.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.08 479.25 Td ($923) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.08 479.25 Td ( ) Tj ET Q q 0 0 0 rg BT 477.01 479.25 Td (in ) Tj ET Q q 0 0 0 rg BT 488.72 479.25 Td (other ) Tj ET Q q 0 0 0 rg BT 513.20 479.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 554.35 479.25 Td (on ) Tj ET Q q 0 0 0 rg BT 568.28 479.25 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 86.81 467.25 Td (Balance ) Tj ET Q q 0 0 0 rg BT 121.54 467.25 Td (sheets. ) Tj ET Q q 0 0 0 rg BT 151.01 467.25 Td ( ) Tj ET Q q 0 0 0 rg BT 153.36 467.25 Td (W) Tj ET Q q 0 0 0 rg BT 162.40 467.25 Td (ith ) Tj ET Q q 0 0 0 rg BT 175.48 467.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 206.33 467.25 Td (to ) Tj ET Q q 0 0 0 rg BT 216.64 467.25 Td (dollar ) Tj ET Q q 0 0 0 rg BT 242.50 467.25 Td (roll ) Tj ET Q q 0 0 0 rg BT 258.92 467.25 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 311.71 467.25 Td (the ) Tj ET Q q 0 0 0 rg BT 326.46 467.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 367.88 467.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 403.73 467.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 441.24 467.25 Td (collateral ) Tj ET Q q 0 0 0 rg BT 480.97 467.25 Td (pledged ) Tj ET Q q 0 0 0 rg BT 515.15 467.25 Td (with ) Tj ET Q q 0 0 0 rg BT 535.46 467.25 Td (a ) Tj ET Q q 0 0 0 rg BT 542.44 467.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 558.84 467.25 Td (value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.63 455.25 Td ($1.0 ) Tj ET Q q 0 0 0 rg BT 64.93 455.25 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 91.05 455.25 Td ( ) Tj ET Q q 0 0 0 rg BT 94.85 455.25 Td (in ) Tj ET Q q 0 0 0 rg BT 106.43 455.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 130.78 455.25 Td (maturities, ) Tj ET Q q 0 0 0 rg BT 176.23 455.25 Td (AFS ) Tj ET Q q 0 0 0 rg BT 198.38 455.25 Td (with ) Tj ET Q q 0 0 0 rg BT 219.96 455.25 Td (a ) Tj ET Q q 0 0 0 rg BT 228.20 455.25 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 289.21 455.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 333.56 455.25 Td (to ) Tj ET Q q 0 0 0 rg BT 345.15 455.25 Td (repurchase ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.25 455.25 Td ($1.0 ) Tj ET Q q 0 0 0 rg BT 413.56 455.25 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.67 455.25 Td ( ) Tj ET Q q 0 0 0 rg BT 443.47 455.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 480.59 455.25 Td (in ) Tj ET Q q 0 0 0 rg BT 492.17 455.25 Td (other ) Tj ET Q q 0 0 0 rg BT 516.52 455.25 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 560.04 455.25 Td (as ) Tj ET Q q 0 0 0 rg BT 572.17 455.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 90.08 443.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 443.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (The Company is required by law to deposit securities with government agencies in states where it conducts business. ) Tj ET Q q 0 0 0 rg BT 501.12 425.25 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.08 413.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 413.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.52 413.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.52 413.25 Td ( the fair value of securities on deposit was approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.56 413.25 Td ($1.9 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.68 413.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.11 413.25 Td ($1.7 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.23 413.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 544.89 413.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.25 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 395.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 395.25 Td (, the Company has pledged as collateral ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.14 395.25 Td ($272) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.14 395.25 Td ( in Japan government bonds reported in fixed maturities, ) Tj ET Q q 0 0 0 rg BT 544.42 395.25 Td (AFS, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (associated with short-term debt of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 170.07 383.25 Td ($238) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 190.07 383.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 365.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 365.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.97 365.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.97 365.25 Td (, the Company has pledged as collateral ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.58 365.25 Td ($34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.58 365.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.02 365.25 Td ($59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.02 365.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 437.68 365.25 Td (, of U.S. government securities and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.25 Td (government agency securities for letters of credit.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (Refer to Derivative Collateral ) Tj ET Q q 0 0 0 rg BT 152.56 335.25 Td (Arrangements section of this note for disclosure of collateral in support of derivative transactions.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 311.25 Td (Equity ) Tj ET Q q 0 0 0 rg BT 62.90 311.25 Td (Method ) Tj ET Q q 0 0 0 rg BT 98.73 311.25 Td (Investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.25 Td (The majority of the Company's investments in limited partnerships and other alternative investments, including hedge funds, mortgage ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.25 Td (and real estate funds, mezzanine debt funds, and private equity and other funds \(collectively) Tj ET Q q 0 0 0 rg BT 399.33 281.25 Td (, limited partnerships\), are accounted for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.25 Td (under the equity method of accounting. ) Tj ET Q q 0 0 0 rg BT 191.00 269.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 250.71 269.25 Td (s maximum exposure to loss as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.75 269.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.33 269.25 Td ( is limited to the total ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.25 Td (carrying value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.30 257.25 Td ($2.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 148.41 257.25 Td (. In addition, the Company has outstanding commitments totaling ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.11 257.25 Td ($531) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.11 257.25 Td ( to fund limited partnership and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.25 Td (other alternative investments as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.18 245.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.76 245.25 Td (. ) Tj ET Q q 0 0 0 rg BT 254.58 245.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 314.29 245.25 Td (s investments in limited partnerships are generally of a passive ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (nature in that the Company does not take an active role in the management of the limited partnerships. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.15 233.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 233.25 Td (, aggregate investment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.25 Td (incomefrom limited partnerships and other alternative investments exceeded ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.23 221.25 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.56 221.25 Td ( of the Company) Tj ET Q q 0 0 0 rg BT 430.27 221.25 Td (s pre-tax consolidated net income. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 80.84 209.25 Td (, the Company is disclosing aggregated summarized financial data for the Company) Tj ET Q q 0 0 0 rg BT 419.08 209.25 Td (s limited partnership investments. ) Tj ET Q q 0 0 0 rg BT 556.38 209.25 Td (This ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.25 Td (aggregated summarized financial data does not represent the Company) Tj ET Q q 0 0 0 rg BT 317.51 197.25 Td (s proportionate share of limited partnership assets or earnings. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.25 Td (Aggregate total assets of the limited partnerships in which the Company invested totaled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.36 185.25 Td ($85.6 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.47 185.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.91 185.25 Td ($90.5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.03 185.25 Td ( as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 173.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.52 173.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.52 173.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 202.18 173.25 Td (. ) Tj ET Q q 0 0 0 rg BT 206.63 173.25 Td (Aggregate total liabilities of the limited partnerships in which the Company invested totaled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.25 Td ($1) Tj ET Q q 0 0 0 rg BT 41.13 161.25 Td (1.4 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.24 161.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 101.68 161.25 Td ($12.8 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 152.79 161.25 Td ( as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.95 161.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.54 161.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.98 161.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.98 161.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 347.64 161.25 Td (. ) Tj ET Q q 0 0 0 rg BT 352.09 161.25 Td (Aggregate net investment incomeof the limited ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.25 Td (partnerships in which the Company invested totaled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.73 149.25 Td ($1.8 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.85 149.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.85 149.25 Td ($1.0 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.96 149.25 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.40 149.25 Td (1.3 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.51 149.25 Td ( for the periods ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.21 149.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.79 149.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 137.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.94 137.25 Td (201) Tj ET Q q 0 0 0 rg BT 85.57 137.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.57 137.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 143.23 137.25 Td (. ) Tj ET Q q 0 0 0 rg BT 147.68 137.25 Td (Aggregate net incomeof the limited partnerships in which the Company invested totaled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.08 137.25 Td ($8.4 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.20 137.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.20 137.25 Td ($7.2 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.25 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.61 125.25 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.05 125.25 Td (9.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 123.17 125.25 Td ( for the periods ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 215.36 125.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 293.94 125.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.94 125.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.94 125.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.38 125.25 Td (201) Tj ET Q q 0 0 0 rg BT 353.01 125.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.01 125.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 410.67 125.25 Td (. ) Tj ET Q q 0 0 0 rg BT 415.12 125.25 Td (As of, and for the period ended, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 113.25 Td (, the aggregated summarized financial data reflects the latest available financial information.) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 379 0 obj <> endobj 380 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-53) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 78.42 713.25 Td (Instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The Company utilizes a variety of OTC, OTC-cleared and exchange traded derivative instruments as a part of its overall risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (management strategy as well as to enter into replication transactions. Derivative instruments are used to manage risk associated with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (interest rate, equity market, credit spread, issuer default, price, and currency exchange rate risk or volatility) Tj ET Q q 0 0 0 rg BT 459.56 671.25 Td (. Replication transactions are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (used as an economical means to synthetically replicate the characteristics and performance of assets that would be permissible ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (investments under the Company) Tj ET Q q 0 0 0 rg BT 163.42 647.25 Td (s investment policies. ) Tj ET Q q 0 0 0 rg BT 252.12 647.25 Td (The Company also purchases and has previously issued financial instruments and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (products that either are accounted for as free-standing derivatives, such as certain reinsurance contracts, or may contain features that are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (deemed to be embedded derivative instruments, such as the GMWB rider included with certain variable annuity products.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (Strategies ) Tj ET Q q 0 0 0 rg BT 76.21 605.25 Td (that ) Tj ET Q q 0 0 0 rg BT 95.93 605.25 Td (qualify ) Tj ET Q q 0 0 0 rg BT 128.44 605.25 Td (for) Tj ET Q q 0 0 0 rg BT 141.03 605.25 Td ( ) Tj ET Q q 0 0 0 rg BT 143.53 605.25 Td (hedge ) Tj ET Q q 0 0 0 rg BT 171.03 605.25 Td (accounting) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (Certain derivatives the Company enters into satisfy the hedge accounting requirements as outlined in Note 1 of these financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 81.03 575.25 Td (T) Tj ET Q q 0 0 0 rg BT 86.44 575.25 Td (ypically) Tj ET Q q 0 0 0 rg BT 118.00 575.25 Td (, these hedge relationships include interest rate and foreign currency swaps where the terms or expected cash flows ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (of the securities closely match the terms of the swap. ) Tj ET Q q 0 0 0 rg BT 247.92 563.25 Td (The swaps are typically used to manage interest rate duration of certain fixed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (maturity securities, or liability contracts, or convert securities, or liabilities, denominated in a foreign currency to US dollars. ) Tj ET Q q 0 0 0 rg BT 535.62 551.25 Td (The hedge ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (strategies by hedge accounting designation include:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 517.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 54.56 517.25 Td (flow ) Tj ET Q q 0 0 0 rg BT 74.29 517.25 Td (hedges) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 499.25 Td (Interest rate swaps are predominantly used to manage portfolio duration and better match cash receipts from assets with cash ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 487.25 Td (disbursements required to fund liabilities. ) Tj ET Q q 0 0 0 rg BT 202.68 487.25 Td (These derivatives convert interest receipts on floating-rate fixed maturity securities or interest ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 475.25 Td (payments on floating-rate guaranteed investment contracts to fixed rates. ) Tj ET Q q 0 0 0 rg BT 330.10 475.25 Td (The Company also enters into forward starting swap ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 463.25 Td (agreements primarily to hedge interest rate risk inherent in the assumptions used to price certain liabilities. In addition, during the first ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 451.25 Td (quarter of 2013 the Company entered into a treasury lock contract to hedge the anticipated interest payments of a fixed rate debt issuance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 439.25 Td (that was subsequently terminated upon the debt issuance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 417.25 Td (Foreign currency swaps are used to convert foreign currency-denominated cash flows related to certain investment receipts and liability ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 405.25 Td (payments to U.S. dollars in order to reduce cash flow fluctuations due to changes in currency rates. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 383.25 Td (Fair ) Tj ET Q q 0 0 0 rg BT 51.78 383.25 Td (value ) Tj ET Q q 0 0 0 rg BT 75.93 383.25 Td (hedges) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (Interest rate swaps are used to hedge the changes in fair value of certain fixed rate liabilities and fixed maturity securities due to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.25 Td (fluctuations in interest rates. Foreign currency swaps are used to hedge the changes in fair value of certain foreign currency-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.25 Td (denominated fixed rate liabilities due to changes in foreign currency rates by swapping the fixed foreign payments to floating rate U.S. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.25 Td (dollar denominated payments.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 307.25 Td (Non-qualifying ) Tj ET Q q 0 0 0 rg BT 98.46 307.25 Td (strategies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 289.25 Td (Derivative relationships that do not qualify for hedge accounting or non-qualifying strategies primarily include the hedge programs for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 277.25 Td (our U.S. and international variable annuity products as well as the hedging and replication strategies that utilize credit default swaps. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 265.25 Td (addition, hedges of interest rate and foreign currency risk of certain fixed maturities and liabilities do not qualify for hedge accounting. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 253.25 Td (These non-qualifying strategies include:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 231.25 Td (Inter) Tj ET Q q 0 0 0 rg BT 50.57 231.25 Td (est rate swaps, swaptions, caps, floors, and futur) Tj ET Q q 0 0 0 rg BT 245.49 231.25 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 213.25 Td (The Company may use interest rate swaps, swaptions, caps, floors and futures to manage duration between assets and liabilities in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 201.25 Td (certain investment portfolios. In addition, the Company enters into interest rate swaps to terminate existing swaps, thereby of) Tj ET Q q 0 0 0 rg BT 531.75 201.25 Td (fsetting the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 189.25 Td (changes in value of the original swap. ) Tj ET Q q 0 0 0 rg BT 187.29 189.25 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 211.73 189.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.32 189.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.76 189.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.76 189.25 Td (, the notional amount of interest rate swaps in of) Tj ET Q q 0 0 0 rg BT 522.86 189.25 Td (fsetting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 177.25 Td (relationships was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.16 177.25 Td (6.9 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.27 177.25 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.71 177.25 Td (7.5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.82 177.25 Td (, respectively) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 268.13 177.25 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 155.25 Td (For) Tj ET Q q 0 0 0 rg BT 46.13 155.25 Td (eign ) Tj ET Q q 0 0 0 rg BT 65.85 155.25 Td (curr) Tj ET Q q 0 0 0 rg BT 82.70 155.25 Td (ency ) Tj ET Q q 0 0 0 rg BT 103.51 155.25 Td (swaps ) Tj ET Q q 0 0 0 rg BT 130.46 155.25 Td (and ) Tj ET Q q 0 0 0 rg BT 147.96 155.25 Td (forwar) Tj ET Q q 0 0 0 rg BT 174.83 155.25 Td (ds) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 137.50 Td (The ) Tj ET Q q 0 0 0 rg BT 50.63 137.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 92.63 137.50 Td (enters ) Tj ET Q q 0 0 0 rg BT 119.93 137.50 Td (into ) Tj ET Q q 0 0 0 rg BT 139.07 137.50 Td (foreign ) Tj ET Q q 0 0 0 rg BT 171.26 137.50 Td (currency ) Tj ET Q q 0 0 0 rg BT 209.43 137.50 Td (swaps ) Tj ET Q q 0 0 0 rg BT 237.28 137.50 Td (and ) Tj ET Q q 0 0 0 rg BT 255.32 137.50 Td (forwards ) Tj ET Q q 0 0 0 rg BT 294.05 137.50 Td (to ) Tj ET Q q 0 0 0 rg BT 305.57 137.50 Td (convert ) Tj ET Q q 0 0 0 rg BT 338.85 137.50 Td (the ) Tj ET Q q 0 0 0 rg BT 354.71 137.50 Td (foreign ) Tj ET Q q 0 0 0 rg BT 386.91 137.50 Td (currency ) Tj ET Q q 0 0 0 rg BT 425.08 137.50 Td (exposures ) Tj ET Q q 0 0 0 rg BT 468.16 137.50 Td (of ) Tj ET Q q 0 0 0 rg BT 480.22 137.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 510.77 137.50 Td (foreign ) Tj ET Q q 0 0 0 rg BT 542.96 137.50 Td (currency-) Tj ET Q BT /F2 9.80 Tf ET q 0 0 0 rg BT 31.50 125.75 Td (denominated ) Tj ET Q q 0 0 0 rg BT 84.57 125.75 Td (fixed ) Tj ET Q q 0 0 0 rg BT 107.15 125.75 Td (maturity ) Tj ET Q q 0 0 0 rg BT 142.81 125.75 Td (investments ) Tj ET Q q 0 0 0 rg BT 192.07 125.75 Td (to ) Tj ET Q q 0 0 0 rg BT 202.14 125.75 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 222.02 125.75 Td (dollars.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 107.75 Td (Japan ) Tj ET Q q 0 0 0 rg BT 58.44 107.75 Td (3W) Tj ET Q q 0 0 0 rg BT 71.22 107.75 Td (in ) Tj ET Q q 0 0 0 rg BT 81.50 107.75 Td (for) Tj ET Q q 0 0 0 rg BT 92.79 107.75 Td (eign ) Tj ET Q q 0 0 0 rg BT 112.51 107.75 Td (curr) Tj ET Q q 0 0 0 rg BT 129.36 107.75 Td (ency ) Tj ET Q q 0 0 0 rg BT 150.18 107.75 Td (swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.75 Td (The Company formerly of) Tj ET Q q 0 0 0 rg BT 136.57 89.75 Td (fered certain variable annuity products with a guaranteed minimum income benefit \("GMIB"\) rider through a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 77.75 Td (wholly-owned Japanese subsidiary) Tj ET Q q 0 0 0 rg BT 170.26 77.75 Td (. ) Tj ET Q q 0 0 0 rg BT 177.58 77.75 Td (The GMIB rider is reinsured to a wholly-owned U.S. subsidiary which invests in U.S. dollar ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 65.75 Td (denominated assets to support the liability) Tj ET Q q 0 0 0 rg BT 199.43 65.75 Td (. ) Tj ET Q q 0 0 0 rg BT 206.75 65.75 Td (The U.S. subsidiary entered into pay U.S. dollar) Tj ET Q q 0 0 0 rg BT 398.82 65.75 Td (, receive yen swap contracts to hedge the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 53.75 Td (currency and yen interest rate exposure between the U.S. dollar denominated assets and the yen denominated fixed liability reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 41.75 Td (payments.) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 381 0 obj <> endobj 382 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-54) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Japanese ) Tj ET Q q 0 0 0 rg BT 71.21 713.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 93.14 713.10 Td (annuity ) Tj ET Q q 0 0 0 rg BT 125.64 713.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 160.35 713.10 Td (instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The Company formerly of) Tj ET Q q 0 0 0 rg BT 136.57 695.10 Td (fered a yen denominated fixed annuity product through a wholly-owned Japanese subsidiary and reinsured to a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (wholly-owned U.S. subsidiary) Tj ET Q q 0 0 0 rg BT 152.51 683.10 Td (. ) Tj ET Q q 0 0 0 rg BT 157.33 683.10 Td (The U.S. subsidiary invests in U.S. dollar denominated securities to support the yen denominated fixed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (liability payments and entered into currency rate swaps to hedge the foreign currency exchange rate and yen interest rate exposures that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (exist as a result of U.S. dollar assets backing the yen denominated liability) Tj ET Q q 0 0 0 rg BT 328.56 659.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 41.69 641.10 Td (edit ) Tj ET Q q 0 0 0 rg BT 59.19 641.10 Td (contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (Credit default swaps are used to purchase credit protection on an individual entity or referenced index to economically hedge against ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (default risk and credit-related changes in value on fixed maturity securities. Credit default swaps are also used to assume credit risk ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (related to an individual entity) Tj ET Q q 0 0 0 rg BT 148.59 599.10 Td (, referenced index, or asset pool, as a part of replication transactions. ) Tj ET Q q 0 0 0 rg BT 428.03 599.10 Td (These contracts require the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (to pay or receive a periodic fee in exchange for compensation from the counterparty should the referenced security issuers experience a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (credit event, as defined in the contract. ) Tj ET Q q 0 0 0 rg BT 191.25 575.10 Td (The Company is also exposed to credit risk related to credit derivatives embedded within certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (fixed maturity securities. ) Tj ET Q q 0 0 0 rg BT 133.51 563.10 Td (These securities are primarily comprised of structured securities that contain credit derivatives that reference a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (standard index of corporate securities. In addition, the Company enters into credit default swaps to terminate existing credit default ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (swaps, thereby of) Tj ET Q q 0 0 0 rg BT 101.58 539.10 Td (fsetting the changes in value of the original swap going forward.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 60.10 521.10 Td (index ) Tj ET Q q 0 0 0 rg BT 84.26 521.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 111.21 521.10 Td (and ) Tj ET Q q 0 0 0 rg BT 128.71 521.10 Td (options) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.10 Td (The Company formerly of) Tj ET Q q 0 0 0 rg BT 136.57 503.10 Td (fered certain equity indexed products, which may contain an embedded derivative that requires bifurcation. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.10 Td (The Company has entered into equity index swaps and options to economically hedge the equity volatility risk associated with these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.10 Td (embedded derivatives. ) Tj ET Q q 0 0 0 rg BT 126.29 479.10 Td (The Company also enters into equity index options and futures with the purpose of hedging the impact of an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.10 Td (adverse equity market environment on the investment portfolio.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (U.S ) Tj ET Q q 0 0 0 rg BT 48.72 449.10 Td (GMWB ) Tj ET Q q 0 0 0 rg BT 81.21 449.10 Td (derivatives, ) Tj ET Q q 0 0 0 rg BT 130.08 449.10 Td (net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.10 Td (The Company formerly of) Tj ET Q q 0 0 0 rg BT 136.57 431.10 Td (fered certain variable annuity products with GMWB riders in the U.S. ) Tj ET Q q 0 0 0 rg BT 421.31 431.10 Td (The GMWB product is a bifurcated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.10 Td (embedded derivative \(U.S. GMWB product derivatives\) that has a notional value equal to the guaranteed remaining balance \("GRB"\). ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.10 Td (The Company uses reinsurance contracts to transfer a portion of its risk of loss due to U.S GMWB. ) Tj ET Q q 0 0 0 rg BT 433.18 407.10 Td (The reinsurance contracts covering ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.10 Td (U.S. GMWB \(U.S. GMWB reinsurance contracts\) are accounted for as free-standing derivatives with a notional amount equal to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.10 Td (GRB amount. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.10 Td (The Company utilizes derivatives \(U.S. GMWB hedging derivatives\) as part of an actively managed program designed to hedge a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (portion of the capital market risk exposures of the non-reinsured GMWB due to changes in interest rates, equity market levels, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (equity volatility) Tj ET Q q 0 0 0 rg BT 94.45 341.10 Td (. ) Tj ET Q q 0 0 0 rg BT 101.77 341.10 Td (These derivatives include customized swaps, interest rate swaps and futures, and equity swaps, options, and futures, on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (certain indices including the S&P) Tj ET Q q 0 0 0 rg BT 165.55 329.10 Td ( 500 index, EAFE index, and NASDAQ index. ) Tj ET Q q 0 0 0 rg BT 358.13 329.10 Td (The following table represents notional and fair value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.10 Td (for U.S. GMWB hedging instruments.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 266.60 220.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 266.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 266.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 266.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 266.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 240.60 220.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 240.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 240.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 240.60 80.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 240.60 80.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 287.6 m 332 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 287.6 m 412 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 287.6 m 492 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 287.6 m 572 287.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 266.6 m 252 266.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 252 287.6 m 332 287.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 252 266.6 m 332 266.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 332 287.6 m 412 287.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 332 266.6 m 412 266.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 287.6 m 492 287.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 266.6 m 492 266.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 287.6 m 572 287.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 266.6 m 572 266.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 227.60000000000002 m 252 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 214.60000000000002 m 252 214.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 252 227.60000000000002 m 332 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 214.60000000000002 m 332 214.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 332 227.60000000000002 m 412 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 214.60000000000002 m 412 214.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 227.60000000000002 m 492 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 214.60000000000002 m 492 214.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 227.60000000000002 m 572 227.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 214.60000000000002 m 572 214.60000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 291.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 298.35 292.00 Td (Notional Amount) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 471.45 292.00 Td (Fair Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 265.30 279.00 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.50 270.00 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 345.30 279.00 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 362.50 270.00 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.30 279.00 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.50 270.00 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.30 279.00 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.50 270.00 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 257.17 Td (Customized swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.50 257.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 257.17 Td (7,839) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.50 257.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.65 257.17 Td (7,787) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.50 257.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.15 257.17 Td (74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.50 257.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 257.17 Td (238) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 244.17 Td (Equity swaps, options, and futures) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 244.17 Td (4,237) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.65 244.17 Td (5,130) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.15 244.17 Td (44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 244.17 Td (267) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 231.17 Td (Interest rate swaps and futures) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 231.17 Td (6,615) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.65 231.17 Td (5,705) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.80 231.22 Td (\(77) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 231.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 231.17 Td (67) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 218.33 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.50 218.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.65 218.33 Td (18,691) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 334.50 218.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 380.65 218.33 Td (18,622) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.50 218.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 478.15 218.33 Td (41) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.50 218.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 553.15 218.33 Td (572) Tj ET Q BT /F2 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 189.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 51.22 189.10 Td (macr) Tj ET Q q 0 0 0 rg BT 71.40 189.10 Td (o ) Tj ET Q q 0 0 0 rg BT 78.90 189.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 105.28 189.10 Td (pr) Tj ET Q q 0 0 0 rg BT 113.80 189.10 Td (ogram) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 172.10 Td (The Company utilizes equity options and swaps to partially hedge against a decline in the equity markets and the resulting statutory ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 160.10 Td (surplus and capital impact primarily arising from GMDB and GMWB obligations. ) Tj ET Q q 0 0 0 rg BT 365.99 160.10 Td (The following table represents notional and fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 148.10 Td (value for the U.S. macro hedge program.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 102.60 220.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 102.60 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 102.60 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 102.60 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 102.60 80.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 125.60000000000002 m 332 125.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 125.60000000000002 m 412 125.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 125.60000000000002 m 492 125.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 125.60000000000002 m 572 125.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 252 125.60000000000002 m 332 125.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 332 125.60000000000002 m 412 125.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 125.60000000000002 m 492 125.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 125.60000000000002 m 572 125.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 90.60000000000002 m 252 90.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 78.60000000000002 m 252 78.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 252 90.60000000000002 m 332 90.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 78.60000000000002 m 332 78.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 332 90.60000000000002 m 412 90.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 78.60000000000002 m 412 78.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 90.60000000000002 m 492 90.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 78.60000000000002 m 492 78.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 90.60000000000002 m 572 90.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 78.60000000000002 m 572 78.60000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 298.35 129.00 Td (Notional Amount) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 471.45 129.00 Td (Fair Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 265.30 116.55 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.50 107.55 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 345.30 116.55 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 362.50 107.55 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.30 116.55 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.50 107.55 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.30 116.55 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.50 107.55 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 93.22 Td (Equity options and swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 93.22 Td (9,934) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.65 93.22 Td (7,442) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.15 93.22 Td (139) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 93.22 Td (286) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 81.33 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.50 81.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.65 81.33 Td (9,934) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 334.50 81.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 385.65 81.33 Td (7,442) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.50 81.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.15 81.33 Td (139) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.50 81.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 553.15 81.33 Td (286) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 383 0 obj <> endobj 384 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-55) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (International ) Tj ET Q q 0 0 0 rg BT 86.77 713.10 Td (pr) Tj ET Q q 0 0 0 rg BT 95.29 713.10 Td (ogram ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The Company formerly of) Tj ET Q q 0 0 0 rg BT 136.57 695.10 Td (fered certain variable annuity products in Japan with GMWB or GMAB riders, which are bifurcated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (embedded derivatives \(International program product derivatives\). ) Tj ET Q q 0 0 0 rg BT 308.71 683.10 Td (The GMWB provides the policyholder with a guaranteed remaining ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (balance \(GRB\) which is generally equal to premiums less withdrawals. If the policyholder) Tj ET Q q 0 0 0 rg BT 404.54 671.10 Td () Tj ET Q q 0 0 0 rg BT 407.32 671.10 Td (s account value is reduced to the specified ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (level through a combination of market declines and withdrawals but the GRB still has value, the Company is obligated to continue to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (make annuity payments to the policyholder until the GRB is exhausted. Certain contract provisions can increase the GRB at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (contractholder election or after the passage of time. ) Tj ET Q q 0 0 0 rg BT 239.28 635.10 Td (The GMAB provides the policyholder with their initial deposit in a lump sum after a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (specified waiting period. ) Tj ET Q q 0 0 0 rg BT 132.96 623.10 Td (The notional amount of the International program product derivatives are the foreign currency denominated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (GRBs converted to U.S. dollars at the current foreign spot exchange rate as of the reporting period date. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 589.10 Td (The Company enters into derivative contracts \(International program hedging instruments\) to hedge a portion of the capital market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 577.10 Td (risk exposures associated with the guaranteed benefits associated with the international variable annuity contracts. During 2013, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 565.10 Td (Company expanded its hedging program to substantially reduce equity and foreign currency exchange risk. ) Tj ET Q q 0 0 0 rg BT 462.58 565.10 Td (The program is primarily ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 553.10 Td (focused on the risks that have been reinsured to the Company) Tj ET Q q 0 0 0 rg BT 280.32 553.10 Td (s U.S. legal entities although certain hedges, predominantly options, are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 541.10 Td (also held directly in HLIKK . ) Tj ET Q q 0 0 0 rg BT 154.07 541.10 Td (The hedging derivatives collectively held in these entities are comprised of equity futures, options, swaps ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 529.10 Td (and currency forwards and options to hedge against a decline in the debt and equity markets or changes in foreign currency exchange ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 517.10 Td (rates and the resulting statutory surplus and capital impact primarily arising from GMDB, GMIB and GMWB obligations issued in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 505.10 Td (Japan. ) Tj ET Q q 0 0 0 rg BT 59.09 505.10 Td (The Company also enters into foreign currency denominated interest rate swaps and swaptions to hedge the interest rate exposure ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 493.10 Td (related to the potential annuitization of certain benefit obligations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 469.10 Td (The following table represents notional and fair value for the international program hedging instruments. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 422.60 261.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 422.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 422.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 422.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 422.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 394.60 261.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 394.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 394.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 394.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 394.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 366.60 261.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 366.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 366.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 366.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 366.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 338.60 261.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 338.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 338.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 338.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 338.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 310.60 261.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.00 310.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 365.00 310.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 310.60 72.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 509.00 310.60 72.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293 446.6 m 365 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 446.6 m 437 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 446.6 m 509 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 446.6 m 581 446.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 293 446.6 m 365 446.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 293 422.6 m 365 422.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365 446.6 m 437 446.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365 422.6 m 437 422.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 446.6 m 509 446.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 422.6 m 509 422.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 446.6 m 581 446.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 422.6 m 581 422.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 422.6 m 293 422.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 293 422.6 m 365 422.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365 422.6 m 437 422.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 422.6 m 509 422.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 422.6 m 581 422.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 296.6 m 293 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 285.6 m 293 285.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 293 296.6 m 365 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 293 285.6 m 365 285.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 365 296.6 m 437 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 285.6 m 437 285.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 296.6 m 509 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 285.6 m 509 285.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 509 296.6 m 581 296.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 285.6 m 581 285.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 331.35 450.00 Td (Notional Amount) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 488.45 450.00 Td (Fair Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 302.30 437.05 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 319.50 428.05 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 374.30 437.05 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 391.50 428.05 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.30 437.05 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.50 428.05 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.30 437.05 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.50 428.05 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 413.17 Td (Credit derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.50 413.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.15 413.17 Td (350) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.50 413.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.15 413.17 Td (350) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 413.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 413.17 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.50 413.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 413.17 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 399.17 Td (Currency forwards [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.65 399.17 Td (13,410) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.65 399.17 Td (9,327) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.80 399.22 Td (\(60) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.15 399.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 399.17 Td (\(87) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 399.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 385.17 Td (Currency options) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.65 385.17 Td (12,066) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.65 385.17 Td (10,342) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.80 385.22 Td (\(54) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.15 385.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 385.17 Td (\(24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 385.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 371.17 Td (Equity futures) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.15 371.17 Td (999) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.65 371.17 Td (2,332) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.15 371.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 371.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 357.17 Td (Equity options) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.65 357.17 Td (3,051) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.65 357.17 Td (3,952) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.80 357.22 Td (\(30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.15 357.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 357.17 Td (47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 343.17 Td (Equity swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.65 343.17 Td (4,269) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.65 343.17 Td (2,617) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.80 343.22 Td (\(119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.15 343.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 343.17 Td (\(12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 343.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 329.17 Td (Customized swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.15 329.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.15 329.17 Td (899) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.15 329.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 329.17 Td (\(11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 329.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 315.17 Td (Interest rate futures) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.15 315.17 Td (952) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.15 315.17 Td (634) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.15 315.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 315.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 301.17 Td (Interest rate swaps and swaptions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.65 301.17 Td (37,951) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.65 301.17 Td (32,632) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.15 301.17 Td (225) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 301.17 Td (228) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 287.38 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 295.50 287.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 333.65 287.38 Td (73,048) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.50 287.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.65 287.38 Td (63,085) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.50 287.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 491.80 287.38 Td (\(33) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.15 287.38 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.50 287.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 287.38 Td (169) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 269.30 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 269.30 Td (As of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 70.00 269.30 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 140.73 269.30 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 158.73 269.30 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 176.73 269.30 Td (, net notional amounts ar) Tj ET Q q 0 0 0 rg BT 267.15 269.30 Td (e $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 277.89 269.30 Td (\(1.8\) billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 320.89 269.30 Td ( and $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 343.39 269.30 Td (0.1 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 380.39 269.30 Td (, r) Tj ET Q q 0 0 0 rg BT 388.06 269.30 Td (espectively) Tj ET Q q 0 0 0 rg BT 427.03 269.30 Td (, which include $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 488.52 269.30 Td (5.8 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 525.52 269.30 Td ( and $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 548.02 269.30 Td (4.7 ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 258.50 Td (billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 73.00 258.50 Td (, r) Tj ET Q q 0 0 0 rg BT 80.67 258.50 Td (espectively) Tj ET Q q 0 0 0 rg BT 119.65 258.50 Td (, r) Tj ET Q q 0 0 0 rg BT 127.31 258.50 Td (elated to long positions and $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 234.06 258.50 Td (7.6 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 271.06 258.50 Td ( and $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 293.56 258.50 Td (4.6 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 330.57 258.50 Td (, r) Tj ET Q q 0 0 0 rg BT 338.23 258.50 Td (espectively) Tj ET Q q 0 0 0 rg BT 377.21 258.50 Td (, r) Tj ET Q q 0 0 0 rg BT 384.88 258.50 Td (elated to short positions.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 240.50 Td (Contingent ) Tj ET Q q 0 0 0 rg BT 78.44 240.50 Td (capital ) Tj ET Q q 0 0 0 rg BT 108.72 240.50 Td (facility ) Tj ET Q q 0 0 0 rg BT 138.99 240.50 Td (put ) Tj ET Q q 0 0 0 rg BT 154.26 240.50 Td (option) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 222.50 Td (The ) Tj ET Q q 0 0 0 rg BT 50.00 222.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.84 222.50 Td (entered ) Tj ET Q q 0 0 0 rg BT 124.22 222.50 Td (into ) Tj ET Q q 0 0 0 rg BT 142.73 222.50 Td (a ) Tj ET Q q 0 0 0 rg BT 150.12 222.50 Td (put ) Tj ET Q q 0 0 0 rg BT 165.86 222.50 Td (option ) Tj ET Q q 0 0 0 rg BT 194.37 222.50 Td (agreement ) Tj ET Q q 0 0 0 rg BT 238.96 222.50 Td (that ) Tj ET Q q 0 0 0 rg BT 256.91 222.50 Td (provides ) Tj ET Q q 0 0 0 rg BT 294.30 222.50 Td (the ) Tj ET Q q 0 0 0 rg BT 309.47 222.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 351.31 222.50 Td (the ) Tj ET Q q 0 0 0 rg BT 366.49 222.50 Td (right ) Tj ET Q q 0 0 0 rg BT 388.33 222.50 Td (to ) Tj ET Q q 0 0 0 rg BT 399.06 222.50 Td (require ) Tj ET Q q 0 0 0 rg BT 430.33 222.50 Td (a ) Tj ET Q q 0 0 0 rg BT 437.72 222.50 Td (third-party ) Tj ET Q q 0 0 0 rg BT 483.44 222.50 Td (trust ) Tj ET Q q 0 0 0 rg BT 504.17 222.50 Td (to ) Tj ET Q q 0 0 0 rg BT 514.90 222.50 Td (purchase, ) Tj ET Q q 0 0 0 rg BT 555.89 222.50 Td (at ) Tj ET Q q 0 0 0 rg BT 566.07 222.50 Td (any ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 210.50 Td (time, ) Tj ET Q q 0 0 0 rg BT 54.34 210.50 Td (The ) Tj ET Q q 0 0 0 rg BT 72.66 210.50 Td (Hartford) Tj ET Q q 0 0 0 rg BT 109.86 210.50 Td (s ) Tj ET Q q 0 0 0 rg BT 116.52 210.50 Td (junior ) Tj ET Q q 0 0 0 rg BT 143.18 210.50 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 197.60 210.50 Td (notes ) Tj ET Q q 0 0 0 rg BT 221.48 210.50 Td (in ) Tj ET Q q 0 0 0 rg BT 232.03 210.50 Td (a ) Tj ET Q q 0 0 0 rg BT 239.23 210.50 Td (maximum ) Tj ET Q q 0 0 0 rg BT 282.55 210.50 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 324.19 210.50 Td (principal ) Tj ET Q q 0 0 0 rg BT 362.50 210.50 Td (amount ) Tj ET Q q 0 0 0 rg BT 395.26 210.50 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.36 210.50 Td ($500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.36 210.50 Td (. ) Tj ET Q q 0 0 0 rg BT 431.63 210.50 Td (Under ) Tj ET Q q 0 0 0 rg BT 459.39 210.50 Td (the ) Tj ET Q q 0 0 0 rg BT 474.37 210.50 Td (put ) Tj ET Q q 0 0 0 rg BT 489.92 210.50 Td (option ) Tj ET Q q 0 0 0 rg BT 518.24 210.50 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 564.95 210.50 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 198.50 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 68.43 198.50 Td (will ) Tj ET Q q 0 0 0 rg BT 86.49 198.50 Td (pay ) Tj ET Q q 0 0 0 rg BT 103.42 198.50 Td (premiums ) Tj ET Q q 0 0 0 rg BT 145.92 198.50 Td (on ) Tj ET Q q 0 0 0 rg BT 158.42 198.50 Td (a ) Tj ET Q q 0 0 0 rg BT 165.36 198.50 Td (periodic ) Tj ET Q q 0 0 0 rg BT 200.62 198.50 Td (basis ) Tj ET Q q 0 0 0 rg BT 223.12 198.50 Td (and ) Tj ET Q q 0 0 0 rg BT 240.06 198.50 Td (will ) Tj ET Q q 0 0 0 rg BT 258.12 198.50 Td (reimburse ) Tj ET Q q 0 0 0 rg BT 300.60 198.50 Td (the ) Tj ET Q q 0 0 0 rg BT 315.32 198.50 Td (trust ) Tj ET Q q 0 0 0 rg BT 335.60 198.50 Td (for ) Tj ET Q q 0 0 0 rg BT 349.76 198.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 379.46 198.50 Td (fees ) Tj ET Q q 0 0 0 rg BT 398.06 198.50 Td (and ) Tj ET Q q 0 0 0 rg BT 415.00 198.50 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 451.37 198.50 Td (expenses.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 180.50 Td (Modified coinsurance r) Tj ET Q q 0 0 0 rg BT 125.00 180.50 Td (einsurance contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 165.50 Td (As ) Tj ET Q q 0 0 0 rg BT 44.80 165.50 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.32 165.50 Td (December31, ) Tj ET Q q 0 0 0 rg BT 113.59 165.50 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 133.59 165.50 Td ( ) Tj ET Q q 0 0 0 rg BT 135.78 165.50 Td (the ) Tj ET Q q 0 0 0 rg BT 150.19 165.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 191.26 165.50 Td (had ) Tj ET Q q 0 0 0 rg BT 207.89 165.50 Td (approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.84 165.50 Td ($1.3 ) Tj ET Q q 0 0 0 rg BT 287.53 165.50 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.64 165.50 Td ( ) Tj ET Q q 0 0 0 rg BT 315.83 165.50 Td (of ) Tj ET Q q 0 0 0 rg BT 326.35 165.50 Td (invested ) Tj ET Q q 0 0 0 rg BT 361.86 165.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 387.38 165.50 Td (supporting ) Tj ET Q q 0 0 0 rg BT 432.35 165.50 Td (other ) Tj ET Q q 0 0 0 rg BT 455.09 165.50 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 507.82 165.50 Td (funds ) Tj ET Q q 0 0 0 rg BT 532.23 165.50 Td (and ) Tj ET Q q 0 0 0 rg BT 548.86 165.50 Td (benefits ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 153.50 Td (payable ) Tj ET Q q 0 0 0 rg BT 65.62 153.50 Td (reinsured ) Tj ET Q q 0 0 0 rg BT 105.86 153.50 Td (under ) Tj ET Q q 0 0 0 rg BT 131.65 153.50 Td (a ) Tj ET Q q 0 0 0 rg BT 139.12 153.50 Td (modified ) Tj ET Q q 0 0 0 rg BT 178.25 153.50 Td (coinsurance ) Tj ET Q q 0 0 0 rg BT 229.03 153.50 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 282.03 153.50 Td (in ) Tj ET Q q 0 0 0 rg BT 292.83 153.50 Td (connection ) Tj ET Q q 0 0 0 rg BT 339.73 153.50 Td (with ) Tj ET Q q 0 0 0 rg BT 360.54 153.50 Td (the ) Tj ET Q q 0 0 0 rg BT 375.78 153.50 Td (sale ) Tj ET Q q 0 0 0 rg BT 394.36 153.50 Td (of ) Tj ET Q q 0 0 0 rg BT 405.71 153.50 Td (the ) Tj ET Q q 0 0 0 rg BT 420.96 153.50 Td (Individual ) Tj ET Q q 0 0 0 rg BT 465.09 153.50 Td (Life ) Tj ET Q q 0 0 0 rg BT 484.77 153.50 Td (business ) Tj ET Q q 0 0 0 rg BT 521.69 153.50 Td (structured ) Tj ET Q q 0 0 0 rg BT 564.70 153.50 Td (as ) Tj ET Q q 0 0 0 rg BT 576.06 153.50 Td (a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 141.50 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 79.96 141.50 Td (transaction. ) Tj ET Q q 0 0 0 rg BT 128.71 141.50 Td ( ) Tj ET Q q 0 0 0 rg BT 130.91 141.50 Td (The ) Tj ET Q q 0 0 0 rg BT 148.83 141.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 174.53 141.50 Td (are ) Tj ET Q q 0 0 0 rg BT 189.12 141.50 Td (held ) Tj ET Q q 0 0 0 rg BT 208.71 141.50 Td (in ) Tj ET Q q 0 0 0 rg BT 218.86 141.50 Td (a ) Tj ET Q q 0 0 0 rg BT 225.67 141.50 Td (trust ) Tj ET Q q 0 0 0 rg BT 245.83 141.50 Td (established ) Tj ET Q q 0 0 0 rg BT 292.63 141.50 Td (by ) Tj ET Q q 0 0 0 rg BT 305.01 141.50 Td (the ) Tj ET Q q 0 0 0 rg BT 319.60 141.50 Td (Company) Tj ET Q q 0 0 0 rg BT 357.84 141.50 Td (. ) Tj ET Q q 0 0 0 rg BT 362.71 141.50 Td ( ) Tj ET Q q 0 0 0 rg BT 364.91 141.50 Td (The ) Tj ET Q q 0 0 0 rg BT 382.83 141.50 Td (Company ) Tj ET Q q 0 0 0 rg BT 424.10 141.50 Td (pays ) Tj ET Q q 0 0 0 rg BT 444.80 141.50 Td (or ) Tj ET Q q 0 0 0 rg BT 455.51 141.50 Td (receives ) Tj ET Q q 0 0 0 rg BT 490.63 141.50 Td (cash ) Tj ET Q q 0 0 0 rg BT 510.78 141.50 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 549.25 141.50 Td (to ) Tj ET Q q 0 0 0 rg BT 559.40 141.50 Td (settle ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 129.50 Td (the ) Tj ET Q q 0 0 0 rg BT 46.05 129.50 Td (results ) Tj ET Q q 0 0 0 rg BT 74.48 129.50 Td (of ) Tj ET Q q 0 0 0 rg BT 85.14 129.50 Td (the ) Tj ET Q q 0 0 0 rg BT 99.69 129.50 Td (reinsured ) Tj ET Q q 0 0 0 rg BT 139.22 129.50 Td (business, ) Tj ET Q q 0 0 0 rg BT 177.95 129.50 Td (including ) Tj ET Q q 0 0 0 rg BT 218.05 129.50 Td (the ) Tj ET Q q 0 0 0 rg BT 232.59 129.50 Td (investment ) Tj ET Q q 0 0 0 rg BT 278.80 129.50 Td (results. ) Tj ET Q q 0 0 0 rg BT 309.74 129.50 Td ( ) Tj ET Q q 0 0 0 rg BT 311.56 129.50 Td (As ) Tj ET Q q 0 0 0 rg BT 325.00 129.50 Td (a ) Tj ET Q q 0 0 0 rg BT 331.77 129.50 Td (result ) Tj ET Q q 0 0 0 rg BT 356.31 129.50 Td (of ) Tj ET Q q 0 0 0 rg BT 366.97 129.50 Td (this ) Tj ET Q q 0 0 0 rg BT 383.75 129.50 Td (modified ) Tj ET Q q 0 0 0 rg BT 422.18 129.50 Td (coinsurance ) Tj ET Q q 0 0 0 rg BT 472.27 129.50 Td (arrangement, ) Tj ET Q q 0 0 0 rg BT 527.06 129.50 Td (the ) Tj ET Q q 0 0 0 rg BT 541.61 129.50 Td (Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 117.50 Td (has ) Tj ET Q q 0 0 0 rg BT 47.77 117.50 Td (an ) Tj ET Q q 0 0 0 rg BT 60.16 117.50 Td (embedded ) Tj ET Q q 0 0 0 rg BT 104.20 117.50 Td (derivative ) Tj ET Q q 0 0 0 rg BT 147.12 117.50 Td (that ) Tj ET Q q 0 0 0 rg BT 165.06 117.50 Td (transfers ) Tj ET Q q 0 0 0 rg BT 202.43 117.50 Td (to ) Tj ET Q q 0 0 0 rg BT 213.16 117.50 Td (the ) Tj ET Q q 0 0 0 rg BT 228.32 117.50 Td (reinsurer ) Tj ET Q q 0 0 0 rg BT 266.80 117.50 Td (certain ) Tj ET Q q 0 0 0 rg BT 296.94 117.50 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 341.53 117.50 Td (changes ) Tj ET Q q 0 0 0 rg BT 376.68 117.50 Td (in ) Tj ET Q q 0 0 0 rg BT 387.40 117.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 404.22 117.50 Td (value ) Tj ET Q q 0 0 0 rg BT 428.82 117.50 Td (due ) Tj ET Q q 0 0 0 rg BT 446.21 117.50 Td (to ) Tj ET Q q 0 0 0 rg BT 456.93 117.50 Td (interest ) Tj ET Q q 0 0 0 rg BT 489.31 117.50 Td (rate ) Tj ET Q q 0 0 0 rg BT 507.24 117.50 Td (and ) Tj ET Q q 0 0 0 rg BT 524.62 117.50 Td (credit ) Tj ET Q q 0 0 0 rg BT 550.33 117.50 Td (risks ) Tj ET Q q 0 0 0 rg BT 572.16 117.50 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 105.50 Td (these ) Tj ET Q q 0 0 0 rg BT 54.44 105.50 Td (assets. ) Tj ET Q q 0 0 0 rg BT 82.66 105.50 Td ( ) Tj ET Q q 0 0 0 rg BT 84.88 105.50 Td (The ) Tj ET Q q 0 0 0 rg BT 102.82 105.50 Td (notional ) Tj ET Q q 0 0 0 rg BT 137.98 105.50 Td (amounts ) Tj ET Q q 0 0 0 rg BT 174.26 105.50 Td (of ) Tj ET Q q 0 0 0 rg BT 184.98 105.50 Td (the ) Tj ET Q q 0 0 0 rg BT 199.59 105.50 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 248.07 105.50 Td (contracts ) Tj ET Q q 0 0 0 rg BT 286.55 105.50 Td (are ) Tj ET Q q 0 0 0 rg BT 301.15 105.50 Td (the ) Tj ET Q q 0 0 0 rg BT 315.76 105.50 Td (invested ) Tj ET Q q 0 0 0 rg BT 351.48 105.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 377.20 105.50 Td (supporting ) Tj ET Q q 0 0 0 rg BT 422.37 105.50 Td (the ) Tj ET Q q 0 0 0 rg BT 436.98 105.50 Td (reinsured ) Tj ET Q q 0 0 0 rg BT 476.57 105.50 Td (reserves ) Tj ET Q q 0 0 0 rg BT 511.72 105.50 Td (and ) Tj ET Q q 0 0 0 rg BT 528.55 105.50 Td (are ) Tj ET Q q 0 0 0 rg BT 543.15 105.50 Td (carried ) Tj ET Q q 0 0 0 rg BT 573.30 105.50 Td (at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 93.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 47.88 93.50 Td (value.) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 385 0 obj <> endobj 386 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-56) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 78.42 713.25 Td (Balance ) Tj ET Q q 0 0 0 rg BT 114.81 713.25 Td (Sheet ) Tj ET Q q 0 0 0 rg BT 140.64 713.25 Td (Classification) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The following table summarizes the balance sheet classification of the Company) Tj ET Q q 0 0 0 rg BT 356.40 695.25 Td (s derivative related fair value amounts as well as the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (gross asset and liability fair value amounts. 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633.5 m 574 633.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 535 619.5 m 574 619.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 577.5 m 250 577.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 563.5 m 250 563.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 250 577.5 m 295 577.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 250 563.5 m 295 563.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 295 577.5 m 340 577.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 295 563.5 m 340 563.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340 577.5 m 379 577.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 340 563.5 m 379 563.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379 577.5 m 418 577.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379 563.5 m 418 563.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 418 577.5 m 457 577.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 418 563.5 m 457 563.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 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418 96.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 77.5 m 418 77.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 418 96.5 m 457 96.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418 77.5 m 457 77.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 457 96.5 m 496 96.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 77.5 m 496 77.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496 96.5 m 535 96.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496 77.5 m 535 77.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 535 96.5 m 574 96.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 535 77.5 m 574 77.5 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 34.50 710.75 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 307.15 710.73 Td (Net Derivatives) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 427.05 710.73 Td (Asset Derivatives) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 499.50 710.73 Td (Liability Derivatives) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 34.50 697.75 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 265.05 697.73 Td (Notional Amount) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 360.65 697.73 Td (Fair Value) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 438.65 697.73 Td (Fair Value) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 516.65 697.73 Td (Fair Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 677.95 Td (Hedge Designation/ Derivative Type) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 258.00 684.90 Td (Dec 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 263.00 675.95 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 303.00 684.90 Td (Dec 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.00 675.95 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 345.00 684.90 Td (Dec 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 350.00 675.95 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 384.00 684.90 Td (Dec 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.00 675.95 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 423.00 684.90 Td (Dec 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.00 675.95 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.00 684.90 Td (Dec 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 467.00 675.95 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.00 684.90 Td (Dec 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 675.95 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.00 684.90 Td (Dec 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 545.00 675.95 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 664.23 Td (Cash flow hedges) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 652.07 Td (Interest rate swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.50 652.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.65 652.07 Td (5,026) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.50 652.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.65 652.07 Td (6,063) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.50 652.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.80 652.12 Td (\(92) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 652.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 652.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 652.07 Td (271) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.50 652.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 652.07 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.50 652.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 652.07 Td (271) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.50 652.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.80 652.12 Td (\(142) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 652.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.50 652.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 652.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 638.07 Td (Foreign currency swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.15 638.07 Td (143) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 638.07 Td (163) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.80 638.12 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 638.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.80 638.12 Td (\(17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 638.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.15 638.07 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 638.07 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.80 638.12 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 638.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 638.07 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 638.07 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 624.18 Td (Total cash flow hedges) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 268.65 624.18 Td (5,169) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.65 624.18 Td (6,226) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 361.80 624.23 Td (\(97) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 375.15 624.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 399.15 624.18 Td (254) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 443.15 624.18 Td (52) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 477.15 624.18 Td (274) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.80 624.23 Td (\(149) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 531.15 624.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 556.80 624.18 Td (\(20) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.15 624.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 610.18 Td (Fair value hedges) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 596.07 Td (Interest rate swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.65 596.07 Td (1,799) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 596.07 Td (753) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.80 596.12 Td (\(24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 596.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.80 596.12 Td (\(55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 596.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.15 596.07 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 596.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 596.12 Td (\(27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 596.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 596.07 Td (\(55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 596.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 582.07 Td (Foreign currency swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.15 582.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.15 582.07 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 582.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.15 582.07 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 582.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 582.07 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 582.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 582.07 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 568.18 Td (Total fair value hedges) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 268.65 568.18 Td (1,799) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 321.15 568.18 Td (793) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 361.80 568.23 Td (\(24) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 375.15 568.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 400.80 568.23 Td (\(39) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.15 568.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.15 568.18 Td (3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 482.15 568.18 Td (16) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.80 568.23 Td (\(27) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 531.15 568.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 556.80 568.18 Td (\(55) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.15 568.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 554.18 Td (Non-qualifying strategies) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 540.06 Td (Interest rate contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 526.07 Td (Interest rate swaps, caps, floors, and futures) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.65 526.07 Td (8,453) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.60 526.07 Td (17,117) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.80 526.12 Td (\(487) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 526.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.80 526.12 Td (\(497) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 526.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 526.07 Td (171) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 526.07 Td (556) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.80 526.12 Td (\(658) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 526.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.30 526.07 Td (\(1,053) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 526.07 Td (\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 512.06 Td (Foreign exchange contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 498.07 Td (Foreign currency swaps and forwards) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.15 498.07 Td (258) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 498.07 Td (355) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.80 498.12 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 498.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.80 498.12 Td (\(16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 498.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.15 498.07 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 498.07 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 498.12 Td (\(15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 498.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 498.07 Td (\(21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 498.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 484.07 Td (Japan 3Win foreign currency swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.65 484.07 Td (1,571) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.65 484.07 Td (1,816) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.80 484.12 Td (\(354) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 484.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.80 484.12 Td (\(127) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 484.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 484.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 484.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.80 484.12 Td (\(354) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 484.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.80 484.07 Td (\(127) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 484.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 470.07 Td (Japanese fixed annuity hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.65 470.07 Td (1,436) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.65 470.07 Td (1,652) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.80 470.12 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 470.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 470.07 Td (224) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 470.07 Td (88) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 470.07 Td (228) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 470.12 Td (\(94) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 470.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.80 470.07 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 470.07 Td (\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 456.06 Td (Credit contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 441.17 Td (Credit derivatives that purchase credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 431.17 Td (protection) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.15 431.17 Td (938) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.65 431.17 Td (1,823) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.80 431.22 Td (\(15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 431.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.80 431.22 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 431.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.15 431.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 431.17 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 431.22 Td (\(16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 431.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 431.17 Td (\(13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 431.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 417.07 Td (Credit derivatives that assume credit risk [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.65 417.07 Td (1,886) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.65 417.07 Td (2,745) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 417.07 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.80 417.12 Td (\(29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 417.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 417.07 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 417.07 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.80 417.12 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 417.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 417.07 Td (\(48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 417.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 403.07 Td (Credit derivatives in offsetting positions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.65 403.07 Td (7,764) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.65 403.07 Td (9,497) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.80 403.12 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 403.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.80 403.12 Td (\(32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 403.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 403.07 Td (76) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 403.07 Td (94) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 403.12 Td (\(83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 403.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.80 403.07 Td (\(126) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 403.07 Td (\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 389.06 Td (Equity contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 375.07 Td (Equity index swaps and options) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.15 375.07 Td (358) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 375.07 Td (994) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.80 375.12 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 375.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.15 375.07 Td (47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 375.07 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 375.07 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 375.12 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 375.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 375.07 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 375.07 Td (\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 361.06 Td (Variable annuity hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 347.07 Td (U.S. GMWB product derivative [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.60 347.07 Td (21,512) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.60 347.07 Td (28,868) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.80 347.12 Td (\(36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 347.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.30 347.12 Td (\(1,249) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 347.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 347.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 347.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 347.12 Td (\(36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 347.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.30 347.07 Td (\(1,249) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 347.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 333.07 Td (U.S. GMWB reinsurance contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.65 333.07 Td (4,508) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.65 333.07 Td (5,773) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 333.07 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 333.07 Td (191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 333.07 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 333.07 Td (191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 333.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 333.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 319.07 Td (U.S. GMWB hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.60 319.07 Td (18,691) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.60 319.07 Td (18,622) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 319.07 Td (41) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 319.07 Td (572) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 319.07 Td (333) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 319.07 Td (743) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.80 319.12 Td (\(292) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 319.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.80 319.07 Td (\(171) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 319.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 305.07 Td (U.S. macro hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.65 305.07 Td (9,934) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.65 305.07 Td (7,442) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 305.07 Td (139) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 305.07 Td (286) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 305.07 Td (178) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 305.07 Td (356) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 305.12 Td (\(39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 305.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 305.07 Td (\(70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 305.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 291.07 Td (International program product derivatives [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.15 291.07 Td (366) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.65 291.07 Td (2,454) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 291.07 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.80 291.12 Td (\(48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 291.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.15 291.07 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 291.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 291.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 291.07 Td (\(48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 291.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 277.07 Td (International program hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.60 277.07 Td (73,048) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.60 277.07 Td (63,085) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.80 277.12 Td (\(33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 277.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 277.07 Td (169) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 277.07 Td (866) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.60 277.07 Td (1,020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.80 277.12 Td (\(899) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 277.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.80 277.07 Td (\(851) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 277.07 Td (\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 263.06 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 250.07 Td (Contingent capital facility put option) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.15 250.07 Td (500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 250.07 Td (500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 250.07 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.15 250.07 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 250.07 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 250.07 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 250.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 250.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 236.07 Td (Modified coinsurance reinsurance contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.65 236.07 Td (1,250) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.15 236.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 236.07 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.15 236.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 236.07 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 236.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 236.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 236.07 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 222.18 Td (Total non-qualifying strategies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 258.60 222.18 Td (152,473) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.60 222.18 Td (162,743) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 356.80 222.23 Td (\(616) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 375.15 222.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 395.80 222.23 Td (\(494) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.15 222.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.60 222.18 Td (1,893) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.60 222.18 Td (3,297) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.30 222.23 Td (\(2,509) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 531.15 222.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.30 222.18 Td (\(3,791) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.15 222.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 208.23 Td (Total cash flow hedges, fair value hedges, and) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 198.23 Td (non-qualifying strategies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.50 199.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 258.60 199.18 Td (159,441) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.50 199.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.60 199.18 Td (169,762) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 342.50 199.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 356.80 199.23 Td (\(737) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 375.15 199.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 381.50 199.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 395.80 199.23 Td (\(279) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.15 199.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.50 199.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.60 199.18 Td (1,948) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.50 199.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.60 199.18 Td (3,587) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.50 199.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.30 199.23 Td (\(2,685) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 531.15 199.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 537.50 199.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.30 199.18 Td (\(3,866) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.15 199.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 185.18 Td (Balance Sheet Location) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 171.07 Td (Fixed maturities, available-for-sale) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.50 171.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.15 171.07 Td (473) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.50 171.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.15 171.07 Td (703) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.50 171.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.80 171.12 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 171.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 171.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.80 171.12 Td (\(32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 171.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.50 171.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.15 171.07 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.50 171.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 171.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.50 171.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.80 171.12 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 171.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.50 171.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 171.07 Td (\(32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 171.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 157.07 Td (Other investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.60 157.07 Td (53,219) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.60 157.07 Td (54,504) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 157.07 Td (442) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.60 157.07 Td (1,045) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 157.07 Td (909) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.60 157.07 Td (1,581) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.80 157.12 Td (\(467) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 157.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.80 157.07 Td (\(536) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 157.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 143.07 Td (Other liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.60 143.07 Td (78,055) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.60 143.07 Td (77,384) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.30 143.12 Td (\(1,223) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 143.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.80 143.12 Td (\(177) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 143.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 143.07 Td (936) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.60 143.07 Td (1,815) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.30 143.12 Td (\(2,159) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 143.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.30 143.07 Td (\(1,992) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 143.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 129.07 Td (Consumer notes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.15 129.07 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.15 129.07 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.80 129.12 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 129.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.80 129.12 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 129.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 129.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 129.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.80 129.12 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 129.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.80 129.07 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 129.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 115.07 Td (Reinsurance recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.65 115.07 Td (5,758) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.65 115.07 Td (5,773) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 115.07 Td (96) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 115.07 Td (191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 115.07 Td (96) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 115.07 Td (191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 115.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 115.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 101.07 Td (Other policyholder funds and benefits payable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.60 101.07 Td (21,927) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.60 101.07 Td (31,372) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.80 101.12 Td (\(48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.15 101.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.30 101.12 Td (\(1,304) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 414.15 101.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.15 101.07 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 101.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 101.12 Td (\(54) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 101.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.30 101.07 Td (\(1,304) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 101.07 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 82.18 Td (Total derivatives) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 252.50 82.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 258.60 82.18 Td (159,441) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 297.50 82.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.60 82.18 Td (169,762) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 342.50 82.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 356.80 82.23 Td (\(737) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 375.15 82.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 381.50 82.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 395.80 82.23 Td (\(279) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 414.15 82.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.50 82.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 430.60 82.18 Td (1,948) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 459.50 82.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.60 82.18 Td (3,587) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 498.50 82.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 505.30 82.23 Td (\(2,685) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 531.15 82.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 537.50 82.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.30 82.18 Td (\(3,866) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.15 82.18 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 61.20 Td ([1] The derivative instruments r) Tj ET Q q 0 0 0 rg BT 146.66 61.20 Td (elated to this strategy ar) Tj ET Q q 0 0 0 rg BT 234.32 61.20 Td (e held for other investment purposes.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 50.45 Td ([2] These derivatives ar) Tj ET Q q 0 0 0 rg BT 117.91 50.45 Td (e embedded within liabilities and ar) Tj ET Q q 0 0 0 rg BT 247.31 50.45 Td (e not held for risk management purposes.) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 389 0 obj <> endobj 390 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-58) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Change ) Tj ET Q q 0 0 0 rg BT 65.11 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 75.39 713.10 Td (Notional ) Tj ET Q q 0 0 0 rg BT 112.71 713.10 Td (Amount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 695.10 Td (net ) Tj ET Q q 0 0 0 rg BT 64.26 695.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 101.18 695.10 Td (in ) Tj ET Q q 0 0 0 rg BT 111.46 695.10 Td (notional ) Tj ET Q q 0 0 0 rg BT 146.73 695.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 179.22 695.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.05 695.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 236.43 695.10 Td (since ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 259.47 695.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 318.06 695.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.06 695.10 Td ( ) Tj ET Q q 0 0 0 rg BT 340.56 695.10 Td (was ) Tj ET Q q 0 0 0 rg BT 358.61 695.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 398.32 695.10 Td (due ) Tj ET Q q 0 0 0 rg BT 415.26 695.10 Td (to ) Tj ET Q q 0 0 0 rg BT 425.54 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 440.25 695.10 Td (following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 677.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 677.10 Td (The ) Tj ET Q q 0 0 0 rg BT 75.66 677.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 113.34 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 124.38 677.10 Td (notional ) Tj ET Q q 0 0 0 rg BT 160.42 677.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 193.68 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.27 677.10 Td (non-qualifying ) Tj ET Q q 0 0 0 rg BT 267.97 677.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 300.67 677.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 318.92 677.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 358.28 677.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 398.75 677.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 433.67 677.10 Td (from ) Tj ET Q q 0 0 0 rg BT 456.37 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 471.85 677.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 521.22 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 532.81 677.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 565.51 677.10 Td (rate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 665.10 Td (swaptions ) Tj ET Q q 0 0 0 rg BT 98.82 665.10 Td (purchased ) Tj ET Q q 0 0 0 rg BT 141.33 665.10 Td (during ) Tj ET Q q 0 0 0 rg BT 169.40 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 183.59 665.10 Td (third ) Tj ET Q q 0 0 0 rg BT 204.45 665.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 234.73 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 245.03 665.10 Td (2012 ) Tj ET Q q 0 0 0 rg BT 267.00 665.10 Td (designed ) Tj ET Q q 0 0 0 rg BT 304.51 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 314.26 665.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 340.11 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 354.29 665.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 385.70 665.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 402.65 665.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 419.62 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 429.92 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 444.11 665.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 483.84 665.10 Td (being ) Tj ET Q q 0 0 0 rg BT 508.03 665.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 553.30 665.10 Td (related ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 67.13 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 81.85 653.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 99.89 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 110.72 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 125.44 653.10 Td (Retirement ) Tj ET Q q 0 0 0 rg BT 172.37 653.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 192.65 653.10 Td (business ) Tj ET Q q 0 0 0 rg BT 229.04 653.10 Td (segment. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 635.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 635.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.94 635.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 111.89 635.10 Td (in ) Tj ET Q q 0 0 0 rg BT 122.21 635.10 Td (notional ) Tj ET Q q 0 0 0 rg BT 157.52 635.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 190.05 635.10 Td (related ) Tj ET Q q 0 0 0 rg BT 219.79 635.10 Td (to ) Tj ET Q q 0 0 0 rg BT 230.11 635.10 Td (the ) Tj ET Q q 0 0 0 rg BT 244.87 635.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 265.19 635.10 Td (GMWB ) Tj ET Q q 0 0 0 rg BT 299.95 635.10 Td (product ) Tj ET Q q 0 0 0 rg BT 333.04 635.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 379.45 635.10 Td (was ) Tj ET Q q 0 0 0 rg BT 397.54 635.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 437.29 635.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 465.38 635.10 Td (by ) Tj ET Q q 0 0 0 rg BT 477.91 635.10 Td (product ) Tj ET Q q 0 0 0 rg BT 511.00 635.10 Td (lapses ) Tj ET Q q 0 0 0 rg BT 537.98 635.10 Td (and ) Tj ET Q q 0 0 0 rg BT 554.96 635.10 Td (partial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 623.10 Td (withdrawals. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 605.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 605.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.28 605.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 110.57 605.10 Td (in ) Tj ET Q q 0 0 0 rg BT 120.23 605.10 Td (notional ) Tj ET Q q 0 0 0 rg BT 154.88 605.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 186.75 605.10 Td (related ) Tj ET Q q 0 0 0 rg BT 215.83 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 225.49 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.59 605.10 Td (international ) Tj ET Q q 0 0 0 rg BT 292.00 605.10 Td (program ) Tj ET Q q 0 0 0 rg BT 327.76 605.10 Td (product ) Tj ET Q q 0 0 0 rg BT 360.18 605.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 405.93 605.10 Td (was ) Tj ET Q q 0 0 0 rg BT 423.37 605.10 Td (due ) Tj ET Q q 0 0 0 rg BT 439.68 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 449.34 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 463.44 605.10 Td (GWMB ) Tj ET Q q 0 0 0 rg BT 497.54 605.10 Td (embedded ) Tj ET Q q 0 0 0 rg BT 540.51 605.10 Td (derivative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 593.10 Td (disposed ) Tj ET Q q 0 0 0 rg BT 94.26 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 105.00 593.10 Td (as ) Tj ET Q q 0 0 0 rg BT 115.74 593.10 Td (part ) Tj ET Q q 0 0 0 rg BT 133.70 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 144.44 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 159.06 593.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 177.02 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 187.76 593.10 Td (HLIL. ) Tj ET Q q 0 0 0 rg BT 215.44 593.10 Td (For ) Tj ET Q q 0 0 0 rg BT 231.74 593.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 274.14 593.10 Td (information ) Tj ET Q q 0 0 0 rg BT 323.76 593.10 Td (on ) Tj ET Q q 0 0 0 rg BT 336.17 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.80 593.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 368.75 593.10 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 415.30 593.10 Td (refer ) Tj ET Q q 0 0 0 rg BT 436.58 593.10 Td (to ) Tj ET Q q 0 0 0 rg BT 446.77 593.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 468.62 593.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 476.02 593.10 Td (- ) Tj ET Q q 0 0 0 rg BT 481.76 593.10 Td (Business ) Tj ET Q q 0 0 0 rg BT 519.74 593.10 Td (Dispositions ) Tj ET Q q 0 0 0 rg BT 572.16 593.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 581.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 82.68 581.10 Td (to ) Tj ET Q q 0 0 0 rg BT 92.96 581.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 148.23 581.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 187.94 581.10 Td (Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 563.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 563.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.81 563.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 109.97 563.10 Td (in ) Tj ET Q q 0 0 0 rg BT 120.17 563.10 Td (notional ) Tj ET Q q 0 0 0 rg BT 155.35 563.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 187.76 563.10 Td (related ) Tj ET Q q 0 0 0 rg BT 217.37 563.10 Td (to ) Tj ET Q q 0 0 0 rg BT 227.56 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 242.19 563.10 Td (international ) Tj ET Q q 0 0 0 rg BT 295.14 563.10 Td (program ) Tj ET Q q 0 0 0 rg BT 331.43 563.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 366.06 563.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 415.14 563.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 449.20 563.10 Td (from ) Tj ET Q q 0 0 0 rg BT 471.05 563.10 Td (the ) Tj ET Q q 0 0 0 rg BT 485.68 563.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 526.98 563.10 Td (expanding ) Tj ET Q q 0 0 0 rg BT 571.05 563.10 Td (its ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 551.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 91.57 551.10 Td (program ) Tj ET Q q 0 0 0 rg BT 127.94 551.10 Td (related ) Tj ET Q q 0 0 0 rg BT 157.65 551.10 Td (to ) Tj ET Q q 0 0 0 rg BT 167.92 551.10 Td (international ) Tj ET Q q 0 0 0 rg BT 220.96 551.10 Td (product ) Tj ET Q q 0 0 0 rg BT 254.01 551.10 Td (program ) Tj ET Q q 0 0 0 rg BT 290.39 551.10 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 335.64 551.10 Td (in ) Tj ET Q q 0 0 0 rg BT 345.92 551.10 Td (the ) Tj ET Q q 0 0 0 rg BT 360.63 551.10 Td (first ) Tj ET Q q 0 0 0 rg BT 379.24 551.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 410.06 551.10 Td (of ) Tj ET Q q 0 0 0 rg BT 420.89 551.10 Td (2013.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 533.10 Td (Change ) Tj ET Q q 0 0 0 rg BT 65.11 533.10 Td (in ) Tj ET Q q 0 0 0 rg BT 75.39 533.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 95.67 533.10 Td (V) Tj ET Q q 0 0 0 rg BT 100.67 533.10 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 515.10 Td (net ) Tj ET Q q 0 0 0 rg BT 64.26 515.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 101.18 515.10 Td (in ) Tj ET Q q 0 0 0 rg BT 111.46 515.10 Td (the ) Tj ET Q q 0 0 0 rg BT 126.17 515.10 Td (total ) Tj ET Q q 0 0 0 rg BT 146.45 515.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 162.82 515.10 Td (value ) Tj ET Q q 0 0 0 rg BT 186.98 515.10 Td (of ) Tj ET Q q 0 0 0 rg BT 197.81 515.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 240.29 515.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 289.45 515.10 Td (since ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 312.50 515.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 371.08 515.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.08 515.10 Td ( ) Tj ET Q q 0 0 0 rg BT 393.58 515.10 Td (was ) Tj ET Q q 0 0 0 rg BT 411.64 515.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 451.35 515.10 Td (related ) Tj ET Q q 0 0 0 rg BT 481.05 515.10 Td (to ) Tj ET Q q 0 0 0 rg BT 491.33 515.10 Td (the ) Tj ET Q q 0 0 0 rg BT 506.05 515.10 Td (following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 497.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 497.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.97 497.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 91.43 497.10 Td (value ) Tj ET Q q 0 0 0 rg BT 115.66 497.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 159.33 497.10 Td (with ) Tj ET Q q 0 0 0 rg BT 179.69 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.48 497.10 Td (international ) Tj ET Q q 0 0 0 rg BT 247.60 497.10 Td (program ) Tj ET Q q 0 0 0 rg BT 284.05 497.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 318.84 497.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 368.09 497.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 410.08 497.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 449.87 497.10 Td (due ) Tj ET Q q 0 0 0 rg BT 466.88 497.10 Td (to ) Tj ET Q q 0 0 0 rg BT 477.24 497.10 Td (an ) Tj ET Q q 0 0 0 rg BT 489.25 497.10 Td (improvement ) Tj ET Q q 0 0 0 rg BT 545.15 497.10 Td (in ) Tj ET Q q 0 0 0 rg BT 555.51 497.10 Td (global ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 485.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 84.35 485.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 118.50 485.10 Td (and ) Tj ET Q q 0 0 0 rg BT 135.44 485.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 187.36 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 198.19 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 212.90 485.10 Td (Japanese ) Tj ET Q q 0 0 0 rg BT 250.94 485.10 Td (yen ) Tj ET Q q 0 0 0 rg BT 267.88 485.10 Td (in ) Tj ET Q q 0 0 0 rg BT 278.16 485.10 Td (relation ) Tj ET Q q 0 0 0 rg BT 311.20 485.10 Td (to ) Tj ET Q q 0 0 0 rg BT 321.48 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 336.20 485.10 Td (euro ) Tj ET Q q 0 0 0 rg BT 356.46 485.10 Td (and ) Tj ET Q q 0 0 0 rg BT 373.40 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 388.12 485.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 408.40 485.10 Td (dollar) Tj ET Q q 0 0 0 rg BT 431.18 485.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 467.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 467.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.42 467.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 90.32 467.10 Td (value ) Tj ET Q q 0 0 0 rg BT 114.01 467.10 Td (related ) Tj ET Q q 0 0 0 rg BT 143.23 467.10 Td (to ) Tj ET Q q 0 0 0 rg BT 153.04 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 167.28 467.10 Td (Japanese ) Tj ET Q q 0 0 0 rg BT 204.84 467.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 227.41 467.10 Td (annuity ) Tj ET Q q 0 0 0 rg BT 259.43 467.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 293.68 467.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 342.37 467.10 Td (and ) Tj ET Q q 0 0 0 rg BT 358.83 467.10 Td (Japan ) Tj ET Q q 0 0 0 rg BT 383.62 467.10 Td (3W) Tj ET Q q 0 0 0 rg BT 397.66 467.10 Td (in ) Tj ET Q q 0 0 0 rg BT 407.47 467.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 438.37 467.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 475.37 467.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 501.84 467.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 543.28 467.10 Td (primarily ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 455.10 Td (due ) Tj ET Q q 0 0 0 rg BT 73.79 455.10 Td (to ) Tj ET Q q 0 0 0 rg BT 84.07 455.10 Td (a ) Tj ET Q q 0 0 0 rg BT 91.01 455.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 142.92 455.10 Td (of ) Tj ET Q q 0 0 0 rg BT 153.75 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.47 455.10 Td (Japanese ) Tj ET Q q 0 0 0 rg BT 206.51 455.10 Td (yen ) Tj ET Q q 0 0 0 rg BT 223.45 455.10 Td (in ) Tj ET Q q 0 0 0 rg BT 233.72 455.10 Td (relation ) Tj ET Q q 0 0 0 rg BT 266.77 455.10 Td (to ) Tj ET Q q 0 0 0 rg BT 277.05 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 291.76 455.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 312.05 455.10 Td (dollar) Tj ET Q q 0 0 0 rg BT 334.82 455.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 437.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 437.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.90 437.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 91.27 437.10 Td (value ) Tj ET Q q 0 0 0 rg BT 115.43 437.10 Td (related ) Tj ET Q q 0 0 0 rg BT 145.13 437.10 Td (to ) Tj ET Q q 0 0 0 rg BT 155.41 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 170.13 437.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 190.39 437.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 211.22 437.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 245.94 437.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 277.88 437.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 295.36 437.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 322.30 437.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 364.22 437.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 403.93 437.10 Td (due ) Tj ET Q q 0 0 0 rg BT 420.87 437.10 Td (to ) Tj ET Q q 0 0 0 rg BT 431.15 437.10 Td (an ) Tj ET Q q 0 0 0 rg BT 443.09 437.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 478.34 437.10 Td (in ) Tj ET Q q 0 0 0 rg BT 488.62 437.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 508.90 437.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 540.83 437.10 Td (rates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 419.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 419.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.31 419.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 90.10 419.10 Td (value ) Tj ET Q q 0 0 0 rg BT 113.66 419.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 156.67 419.10 Td (with ) Tj ET Q q 0 0 0 rg BT 176.36 419.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.49 419.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 210.18 419.10 Td (macro ) Tj ET Q q 0 0 0 rg BT 237.08 419.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 262.87 419.10 Td (program ) Tj ET Q q 0 0 0 rg BT 298.66 419.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 339.98 419.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 379.11 419.10 Td (due ) Tj ET Q q 0 0 0 rg BT 395.46 419.10 Td (to ) Tj ET Q q 0 0 0 rg BT 405.15 419.10 Td (an ) Tj ET Q q 0 0 0 rg BT 416.50 419.10 Td (improvement ) Tj ET Q q 0 0 0 rg BT 471.73 419.10 Td (in ) Tj ET Q q 0 0 0 rg BT 481.42 419.10 Td (domestic ) Tj ET Q q 0 0 0 rg BT 519.43 419.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 546.34 419.10 Td (markets, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 407.10 Td (an ) Tj ET Q q 0 0 0 rg BT 68.79 407.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 104.04 407.10 Td (in ) Tj ET Q q 0 0 0 rg BT 114.32 407.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 146.25 407.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 167.63 407.10 Td (and ) Tj ET Q q 0 0 0 rg BT 184.57 407.10 Td (a ) Tj ET Q q 0 0 0 rg BT 191.51 407.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 222.88 407.10 Td (in ) Tj ET Q q 0 0 0 rg BT 233.16 407.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 260.65 407.10 Td (volatility) Tj ET Q q 0 0 0 rg BT 296.11 407.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 389.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 389.10 Td (The ) Tj ET Q q 0 0 0 rg BT 73.85 389.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 108.07 389.10 Td (in ) Tj ET Q q 0 0 0 rg BT 117.30 389.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 132.64 389.10 Td (value ) Tj ET Q q 0 0 0 rg BT 155.75 389.10 Td (related ) Tj ET Q q 0 0 0 rg BT 184.41 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 193.64 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 207.32 389.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 248.21 389.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 267.45 389.10 Td (GMWB ) Tj ET Q q 0 0 0 rg BT 301.13 389.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 334.80 389.10 Td (program, ) Tj ET Q q 0 0 0 rg BT 372.64 389.10 Td (which ) Tj ET Q q 0 0 0 rg BT 398.53 389.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 433.32 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.99 389.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 466.23 389.10 Td (GMWB ) Tj ET Q q 0 0 0 rg BT 499.91 389.10 Td (product, ) Tj ET Q q 0 0 0 rg BT 534.42 389.10 Td (reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 74.53 377.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 109.98 377.10 Td (derivatives, ) Tj ET Q q 0 0 0 rg BT 159.60 377.10 Td (was ) Tj ET Q q 0 0 0 rg BT 178.39 377.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 218.84 377.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 247.63 377.10 Td (by ) Tj ET Q q 0 0 0 rg BT 260.87 377.10 Td (revaluing ) Tj ET Q q 0 0 0 rg BT 301.87 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 317.33 377.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 351.67 377.10 Td (for ) Tj ET Q q 0 0 0 rg BT 366.57 377.10 Td (living ) Tj ET Q q 0 0 0 rg BT 393.15 377.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 428.04 377.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 466.28 377.10 Td (from ) Tj ET Q q 0 0 0 rg BT 488.96 377.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 529.95 377.10 Td (policyholder ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 365.10 Td (behavior ) Tj ET Q q 0 0 0 rg BT 94.34 365.10 Td (lar) Tj ET Q q 0 0 0 rg BT 104.70 365.10 Td (gely ) Tj ET Q q 0 0 0 rg BT 124.42 365.10 Td (related ) Tj ET Q q 0 0 0 rg BT 154.12 365.10 Td (to ) Tj ET Q q 0 0 0 rg BT 164.40 365.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 204.65 365.10 Td (full ) Tj ET Q q 0 0 0 rg BT 221.04 365.10 Td (surrenders ) Tj ET Q q 0 0 0 rg BT 265.19 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 282.13 365.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 315.74 365.10 Td (assumption ) Tj ET Q q 0 0 0 rg BT 363.79 365.10 Td (updates ) Tj ET Q q 0 0 0 rg BT 396.84 365.10 Td (for ) Tj ET Q q 0 0 0 rg BT 411.00 365.10 Td (partial ) Tj ET Q q 0 0 0 rg BT 439.04 365.10 Td (lapses ) Tj ET Q q 0 0 0 rg BT 465.98 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 482.92 365.10 Td (withdrawal ) Tj ET Q q 0 0 0 rg BT 530.40 365.10 Td (rates.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 347.10 Td (Offsetting of Derivative ) Tj ET Q q 0 0 0 rg BT 128.24 347.10 Td (Assets/Liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (The following tables present the gross fair value amounts, the amounts of) Tj ET Q q 0 0 0 rg BT 325.14 329.10 Td (fset, and net position of derivative instruments eligible for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.10 Td (of) Tj ET Q q 0 0 0 rg BT 39.65 317.10 Td (fset in the Company's Consolidated Balance Sheets. ) Tj ET Q q 0 0 0 rg BT 251.70 317.10 Td (Amounts of) Tj ET Q q 0 0 0 rg BT 299.01 317.10 Td (fset include fair value amounts, income accruals and related cash ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.10 Td (collateral receivables and payables associated with derivative instruments that are traded under a common master netting agreement, as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.10 Td (described above. ) Tj ET Q q 0 0 0 rg BT 103.14 293.10 Td (Also included in the tables are financial collateral receivables and payables, which is contractually permitted to be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.10 Td (of) Tj ET Q q 0 0 0 rg BT 39.65 281.10 Td (fset upon an event of default, although is disallowed for of) Tj ET Q q 0 0 0 rg BT 273.58 281.10 Td (fsetting under U.S. GAAP) Tj ET Q q 0 0 0 rg BT 377.74 281.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 253.45 257.10 Td (As of ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 277.89 257.10 Td (December) Tj ET Q q 0 0 0 rg BT 321.02 257.10 Td (31, 2013) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 43.50 128.60 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.50 128.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 128.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 128.60 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 128.60 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 128.60 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 128.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 128.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 128.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 128.60 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 128.60 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 128.60 66.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 179.60000000000002 m 496.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 43.5 142.60000000000002 m 153.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 153.5 142.60000000000002 m 209.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 209.5 142.60000000000002 m 214.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 214.5 142.60000000000002 m 286.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 286.5 142.60000000000002 m 290.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290.5 179.60000000000002 m 348.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 142.60000000000002 m 348.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 348.5 179.60000000000002 m 353.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 348.5 142.60000000000002 m 353.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353.5 179.60000000000002 m 413.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 142.60000000000002 m 413.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413.5 142.60000000000002 m 418.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 418.5 179.60000000000002 m 496.5 179.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 418.5 142.60000000000002 m 496.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 142.60000000000002 m 501.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 142.60000000000002 m 567.5 142.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 43.5 113.60000000000002 m 153.5 113.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 153.5 113.60000000000002 m 209.5 113.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 209.5 113.60000000000002 m 214.5 113.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 214.5 113.60000000000002 m 286.5 113.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 286.5 113.60000000000002 m 290.5 113.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 113.60000000000002 m 348.5 113.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 348.5 113.60000000000002 m 353.5 113.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 113.60000000000002 m 413.5 113.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413.5 113.60000000000002 m 418.5 113.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 418.5 113.60000000000002 m 496.5 113.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 113.60000000000002 m 501.5 113.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 113.60000000000002 m 567.5 113.60000000000002 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 176.25 227.28 Td (\(i\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 243.85 227.28 Td (\(ii\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 323.65 227.28 Td (\(iii\) = \(i\) - 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.65 477.17 Td (759) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.00 477.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.65 477.17 Td (134) Tj ET Q BT /F2 10.00 Tf ET 1 1 1 rg /GS0 gs 43.50 444.50 110.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 153.50 444.50 56.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 209.50 444.50 5.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 214.50 444.50 72.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 286.50 444.50 4.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 290.50 444.50 58.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 348.50 444.50 5.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 353.50 444.50 60.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 413.50 444.50 5.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 418.50 444.50 78.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 496.50 444.50 5.00 -37.00 re f /GS0 gs 1 1 1 rg /GS0 gs 501.50 444.50 66.00 -37.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 43.50 392.50 110.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 153.50 392.50 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 209.50 392.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 214.50 392.50 72.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 286.50 392.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.50 392.50 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 348.50 392.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 353.50 392.50 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.50 392.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 418.50 392.50 78.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 496.50 392.50 5.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 501.50 392.50 66.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 43.5 407.5 m 153.5 407.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 153.5 407.5 m 209.5 407.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 209.5 407.5 m 214.5 407.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 214.5 407.5 m 286.5 407.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 286.5 407.5 m 290.5 407.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 407.5 m 348.5 407.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 348.5 407.5 m 353.5 407.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 407.5 m 413.5 407.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413.5 407.5 m 418.5 407.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 418.5 407.5 m 496.5 407.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 407.5 m 501.5 407.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 407.5 m 567.5 407.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 43.5 377.5 m 153.5 377.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 153.5 377.5 m 209.5 377.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 209.5 377.5 m 214.5 377.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 214.5 377.5 m 286.5 377.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 286.5 377.5 m 290.5 377.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 290.5 377.5 m 348.5 377.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 348.5 377.5 m 353.5 377.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 353.5 377.5 m 413.5 377.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413.5 377.5 m 418.5 377.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 418.5 377.5 m 496.5 377.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 496.5 377.5 m 501.5 377.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 501.5 377.5 m 567.5 377.5 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 171.05 435.73 Td (Gross) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 161.10 427.73 Td (Amounts of) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 161.40 419.73 Td (Recognized) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 163.85 411.73 Td (Liabilities) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 223.70 435.73 Td (Gross Amounts) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 228.85 427.73 Td (Offset in the) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 228.30 419.73 Td (Statement of) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 219.20 411.73 Td (Financial Position) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 301.20 419.73 Td (Derivative) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 296.20 411.73 Td (Liabilities [3]) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 368.55 435.73 Td (Accrued) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 362.25 427.73 Td (Interest and) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 356.20 419.73 Td (Cash Collateral) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 363.75 411.73 Td (Pledged [3]) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 422.85 419.73 Td (Financial Collateral) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 437.75 411.73 Td (Pledged [4]) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 513.20 411.73 Td (Net Amount) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 46.00 397.18 Td (Description) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.00 383.07 Td (Other liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.00 382.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.80 382.17 Td (\(2,528) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.65 382.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.00 382.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 256.80 382.17 Td (\(1,895) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.65 382.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 293.00 382.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.30 382.22 Td (\(177) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.65 382.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.00 382.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.30 382.22 Td (\(456) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.65 382.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.00 382.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.30 382.22 Td (\(541) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.65 382.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.00 382.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.30 382.17 Td (\(92) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.65 382.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 360.00 Td ([1]) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 61.00 360.00 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 360.00 Td (Included in other investments in the Company's Consolidated Balance Sheets.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 348.00 Td ([2]) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 61.00 348.00 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 348.00 Td (Included in other assets in the Company's Consolidated Balance Sheets and is limited to the net derivative r) Tj ET Q q 0 0 0 rg BT 455.78 348.00 Td (eceivable associated with each ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 337.20 Td (counterparty) Tj ET Q q 0 0 0 rg BT 113.49 337.20 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 325.20 Td ([3]) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 61.00 325.20 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 325.20 Td (Included in other liabilities in the Company's Consolidated Balance Sheets and is limited to the net derivative payable associated with each ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 314.40 Td (counterparty) Tj ET Q q 0 0 0 rg BT 113.49 314.40 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 302.40 Td ([4]) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 61.00 302.40 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 302.40 Td (Excludes collateral associated with exchange-traded derivatives instruments.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 284.40 Td (Cash ) Tj ET Q q 0 0 0 rg BT 55.67 284.40 Td (Flow ) Tj ET Q q 0 0 0 rg BT 79.28 284.40 Td (Hedges) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 266.40 Td (For ) Tj ET Q q 0 0 0 rg BT 47.77 266.40 Td (derivative ) Tj ET Q q 0 0 0 rg BT 90.12 266.40 Td (instruments ) Tj ET Q q 0 0 0 rg BT 139.16 266.40 Td (that ) Tj ET Q q 0 0 0 rg BT 156.53 266.40 Td (are ) Tj ET Q q 0 0 0 rg BT 171.12 266.40 Td (designated ) Tj ET Q q 0 0 0 rg BT 216.26 266.40 Td (and ) Tj ET Q q 0 0 0 rg BT 233.07 266.40 Td (qualify ) Tj ET Q q 0 0 0 rg BT 263.77 266.40 Td (as ) Tj ET Q q 0 0 0 rg BT 274.48 266.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 294.62 266.40 Td (flow ) Tj ET Q q 0 0 0 rg BT 315.33 266.40 Td (hedges, ) Tj ET Q q 0 0 0 rg BT 347.97 266.40 Td (the ) Tj ET Q q 0 0 0 rg BT 362.56 266.40 Td (ef) Tj ET Q q 0 0 0 rg BT 370.15 266.40 Td (fective ) Tj ET Q q 0 0 0 rg BT 399.73 266.40 Td (portion ) Tj ET Q q 0 0 0 rg BT 430.99 266.40 Td (of ) Tj ET Q q 0 0 0 rg BT 441.70 266.40 Td (the ) Tj ET Q q 0 0 0 rg BT 456.29 266.40 Td (gain ) Tj ET Q q 0 0 0 rg BT 475.88 266.40 Td (or ) Tj ET Q q 0 0 0 rg BT 486.59 266.40 Td (loss ) Tj ET Q q 0 0 0 rg BT 504.52 266.40 Td (on ) Tj ET Q q 0 0 0 rg BT 516.90 266.40 Td (the ) Tj ET Q q 0 0 0 rg BT 531.49 266.40 Td (derivative ) Tj ET Q q 0 0 0 rg BT 573.85 266.40 Td (is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 254.40 Td (reported ) Tj ET Q q 0 0 0 rg BT 67.94 254.40 Td (as ) Tj ET Q q 0 0 0 rg BT 79.39 254.40 Td (a ) Tj ET Q q 0 0 0 rg BT 86.94 254.40 Td (component ) Tj ET Q q 0 0 0 rg BT 134.50 254.40 Td (of ) Tj ET Q q 0 0 0 rg BT 145.95 254.40 Td (OCI ) Tj ET Q q 0 0 0 rg BT 166.29 254.40 Td (and ) Tj ET Q q 0 0 0 rg BT 183.85 254.40 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 232.50 254.40 Td (into ) Tj ET Q q 0 0 0 rg BT 251.18 254.40 Td (earnings ) Tj ET Q q 0 0 0 rg BT 288.17 254.40 Td (in ) Tj ET Q q 0 0 0 rg BT 299.07 254.40 Td (the ) Tj ET Q q 0 0 0 rg BT 314.41 254.40 Td (same ) Tj ET Q q 0 0 0 rg BT 338.08 254.40 Td (period ) Tj ET Q q 0 0 0 rg BT 366.74 254.40 Td (or ) Tj ET Q q 0 0 0 rg BT 378.19 254.40 Td (periods ) Tj ET Q q 0 0 0 rg BT 410.75 254.40 Td (durin) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 431.86 254.40 Td (g ) Tj ET Q q 0 0 0 rg BT 439.58 254.40 Td (which ) Tj ET Q q 0 0 0 rg BT 465.76 254.40 Td (the ) Tj ET Q q 0 0 0 rg BT 480.33 254.40 Td (hedged ) Tj ET Q q 0 0 0 rg BT 510.73 254.40 Td (transaction ) Tj ET Q q 0 0 0 rg BT 555.37 254.40 Td (af) Tj ET Q q 0 0 0 rg BT 562.58 254.40 Td (fects ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 31.50 243.00 Td (earnings. ) Tj ET Q q 0 0 0 rg BT 68.22 243.00 Td (Gains ) Tj ET Q q 0 0 0 rg BT 92.55 243.00 Td (and ) Tj ET Q q 0 0 0 rg BT 108.43 243.00 Td (losses ) Tj ET Q q 0 0 0 rg BT 133.29 243.00 Td (on ) Tj ET Q q 0 0 0 rg BT 144.95 243.00 Td (the ) Tj ET Q q 0 0 0 rg BT 158.71 243.00 Td (derivative ) Tj ET Q q 0 0 0 rg BT 198.86 243.00 Td (representing ) Tj ET Q q 0 0 0 rg BT 247.98 243.00 Td (hedge ) Tj ET Q q 0 0 0 rg BT 272.82 243.00 Td (inef) Tj ET Q q 0 0 0 rg BT 287.42 243.00 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 331.79 243.00 Td (are ) Tj ET Q q 0 0 0 rg BT 345.54 243.00 Td (recognized ) Tj ET Q q 0 0 0 rg BT 389.38 243.00 Td (in ) Tj ET Q q 0 0 0 rg BT 398.93 243.00 Td (current ) Tj ET Q q 0 0 0 rg BT 427.99 243.00 Td (period ) Tj ET Q q 0 0 0 rg BT 454.42 243.00 Td (earnings. ) Tj ET Q q 0 0 0 rg BT 490.66 243.00 Td (All ) Tj ET Q q 0 0 0 rg BT 504.97 243.00 Td (components ) Tj ET Q q 0 0 0 rg BT 553.04 243.00 Td (of ) Tj ET Q q 0 0 0 rg BT 563.11 243.00 Td (each ) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 31.50 231.60 Td (derivative) Tj ET Q q 0 0 0 rg BT 72.12 231.60 Td (s ) Tj ET Q q 0 0 0 rg BT 78.19 231.60 Td (gain ) Tj ET Q q 0 0 0 rg BT 96.93 231.60 Td (or ) Tj ET Q q 0 0 0 rg BT 107.21 231.60 Td (loss ) Tj ET Q q 0 0 0 rg BT 124.37 231.60 Td (were ) Tj ET Q q 0 0 0 rg BT 145.21 231.60 Td (included ) Tj ET Q q 0 0 0 rg BT 180.29 231.60 Td (in ) Tj ET Q q 0 0 0 rg BT 190.06 231.60 Td (the ) Tj ET Q q 0 0 0 rg BT 204.04 231.60 Td (assessment ) Tj ET Q q 0 0 0 rg BT 248.63 231.60 Td (of ) Tj ET Q q 0 0 0 rg BT 258.92 231.60 Td (hedge ) Tj ET Q q 0 0 0 rg BT 283.98 231.60 Td (ef) Tj ET Q q 0 0 0 rg BT 291.19 231.60 Td (fectiveness.) Tj ET Q BT /F2 9.50 Tf ET q 0 0 0 rg BT 31.50 214.20 Td (The ) Tj ET Q q 0 0 0 rg BT 48.65 214.20 Td (following ) Tj ET Q q 0 0 0 rg BT 87.96 214.20 Td (table ) Tj ET Q q 0 0 0 rg BT 108.80 214.20 Td (presents ) Tj ET Q q 0 0 0 rg BT 142.31 214.20 Td (the ) Tj ET Q q 0 0 0 rg BT 156.29 214.20 Td (components ) Tj ET Q q 0 0 0 rg BT 204.57 214.20 Td (of ) Tj ET Q q 0 0 0 rg BT 214.86 214.20 Td (the ) Tj ET Q q 0 0 0 rg BT 228.84 214.20 Td (gain ) Tj ET Q q 0 0 0 rg BT 247.58 214.20 Td (or ) Tj ET Q q 0 0 0 rg BT 257.86 214.20 Td (loss ) Tj ET Q q 0 0 0 rg BT 275.02 214.20 Td (on ) Tj ET Q q 0 0 0 rg BT 286.90 214.20 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 330.95 214.20 Td (that ) Tj ET Q q 0 0 0 rg BT 347.57 214.20 Td (qualify ) Tj ET Q q 0 0 0 rg BT 376.86 214.20 Td (as ) Tj ET Q q 0 0 0 rg BT 387.15 214.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 406.40 214.20 Td (flow ) Tj ET Q q 0 0 0 rg BT 426.19 214.20 Td (hedges:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 131.70 201.00 -12.00 re f 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408.50 605.00 Td (in ) Tj ET Q q 0 0 0 rg BT 417.92 605.00 Td (AOCI ) Tj ET Q q 0 0 0 rg BT 444.48 605.00 Td (that ) Tj ET Q q 0 0 0 rg BT 461.58 605.00 Td (are ) Tj ET Q q 0 0 0 rg BT 475.90 605.00 Td (expected ) Tj ET Q q 0 0 0 rg BT 513.54 605.00 Td (to ) Tj ET Q q 0 0 0 rg BT 523.43 605.00 Td (be ) Tj ET Q q 0 0 0 rg BT 534.98 605.00 Td (reclassified ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.00 Td (to ) Tj ET Q q 0 0 0 rg BT 41.90 593.00 Td (earnings ) Tj ET Q q 0 0 0 rg BT 78.39 593.00 Td (during ) Tj ET Q q 0 0 0 rg BT 107.12 593.00 Td (the ) Tj ET Q q 0 0 0 rg BT 121.96 593.00 Td (next ) Tj ET Q q 0 0 0 rg BT 141.80 593.00 Td (twelve ) Tj ET Q q 0 0 0 rg BT 171.07 593.00 Td (months ) Tj ET Q q 0 0 0 rg BT 203.14 593.00 Td (are ) Tj ET Q q 0 0 0 rg BT 217.96 593.00 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.96 593.00 Td (83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.96 593.00 Td (. ) Tj ET Q q 0 0 0 rg BT 237.90 593.00 Td (This ) Tj ET Q q 0 0 0 rg BT 258.29 593.00 Td (expectation ) Tj ET Q q 0 0 0 rg BT 307.00 593.00 Td (is ) Tj ET Q q 0 0 0 rg BT 316.29 593.00 Td (based ) Tj ET Q q 0 0 0 rg BT 341.68 593.00 Td (on ) Tj ET Q q 0 0 0 rg BT 354.30 593.00 Td (the ) Tj ET Q q 0 0 0 rg BT 369.14 593.00 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 415.62 593.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 447.68 593.00 Td (payments ) Tj ET Q q 0 0 0 rg BT 488.62 593.00 Td (on ) Tj ET Q q 0 0 0 rg BT 501.24 593.00 Td (hedged ) Tj ET Q q 0 0 0 rg BT 532.74 593.00 Td (investments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.00 Td (in ) Tj ET Q q 0 0 0 rg BT 41.85 581.00 Td (fixed ) Tj ET Q q 0 0 0 rg BT 64.98 581.00 Td (maturity ) Tj ET Q q 0 0 0 rg BT 101.43 581.00 Td (securities ) Tj ET Q q 0 0 0 rg BT 141.77 581.00 Td (that ) Tj ET Q q 0 0 0 rg BT 159.34 581.00 Td (will ) Tj ET Q q 0 0 0 rg BT 177.48 581.00 Td (occur ) Tj ET Q q 0 0 0 rg BT 202.26 581.00 Td (over ) Tj ET Q q 0 0 0 rg BT 222.60 581.00 Td (the ) Tj ET Q q 0 0 0 rg BT 237.40 581.00 Td (next ) Tj ET Q q 0 0 0 rg BT 257.19 581.00 Td (twelve ) Tj ET Q q 0 0 0 rg BT 286.42 581.00 Td (months, ) Tj ET Q q 0 0 0 rg BT 320.94 581.00 Td (at ) Tj ET Q q 0 0 0 rg BT 330.74 581.00 Td (which ) Tj ET Q q 0 0 0 rg BT 357.75 581.00 Td (time ) Tj ET Q q 0 0 0 rg BT 378.10 581.00 Td (the ) Tj ET Q q 0 0 0 rg BT 392.89 581.00 Td (Company ) Tj ET Q q 0 0 0 rg BT 434.35 581.00 Td (will ) Tj ET Q q 0 0 0 rg BT 452.49 581.00 Td (recognize ) Tj ET Q q 0 0 0 rg BT 493.92 581.00 Td (the ) Tj ET Q q 0 0 0 rg BT 508.72 581.00 Td (deferred ) Tj ET Q q 0 0 0 rg BT 544.60 581.00 Td (net ) Tj ET Q q 0 0 0 rg BT 559.39 581.00 Td (gains ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.00 Td (\(losses\)as ) Tj ET Q q 0 0 0 rg BT 75.65 569.00 Td (an ) Tj ET Q q 0 0 0 rg BT 87.87 569.00 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 134.52 569.00 Td (to ) Tj ET Q q 0 0 0 rg BT 145.07 569.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 177.28 569.00 Td (income ) Tj ET Q q 0 0 0 rg BT 209.48 569.00 Td (over ) Tj ET Q q 0 0 0 rg BT 230.02 569.00 Td (the ) Tj ET Q q 0 0 0 rg BT 245.01 569.00 Td (term ) Tj ET Q q 0 0 0 rg BT 266.11 569.00 Td (of ) Tj ET Q q 0 0 0 rg BT 277.21 569.00 Td (the ) Tj ET Q q 0 0 0 rg BT 292.20 569.00 Td (investment ) Tj ET Q q 0 0 0 rg BT 338.86 569.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 359.40 569.00 Td (flows. ) Tj ET Q q 0 0 0 rg BT 386.69 569.00 Td (The ) Tj ET Q q 0 0 0 rg BT 405.01 569.00 Td (maximum ) Tj ET Q q 0 0 0 rg BT 448.33 569.00 Td (term ) Tj ET Q q 0 0 0 rg BT 469.43 569.00 Td (over ) Tj ET Q q 0 0 0 rg BT 489.97 569.00 Td (which ) Tj ET Q q 0 0 0 rg BT 517.18 569.00 Td (the ) Tj ET Q q 0 0 0 rg BT 532.17 569.00 Td (Company ) Tj ET Q q 0 0 0 rg BT 573.83 569.00 Td (is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.00 Td (hedging ) Tj ET Q q 0 0 0 rg BT 66.34 557.00 Td (its ) Tj ET Q q 0 0 0 rg BT 78.41 557.00 Td (exposure ) Tj ET Q q 0 0 0 rg BT 117.13 557.00 Td (to ) Tj ET Q q 0 0 0 rg BT 127.54 557.00 Td (the ) Tj ET Q q 0 0 0 rg BT 142.38 557.00 Td (variability ) Tj ET Q q 0 0 0 rg BT 186.10 557.00 Td (of ) Tj ET Q q 0 0 0 rg BT 197.05 557.00 Td (future ) Tj ET Q q 0 0 0 rg BT 223.55 557.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 243.94 557.00 Td (flows ) Tj ET Q q 0 0 0 rg BT 268.79 557.00 Td (\(for ) Tj ET Q q 0 0 0 rg BT 286.40 557.00 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 330.11 557.00 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 383.00 557.00 Td (excluding ) Tj ET Q q 0 0 0 rg BT 425.06 557.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 457.11 557.00 Td (payments ) Tj ET Q q 0 0 0 rg BT 498.06 557.00 Td (on ) Tj ET Q q 0 0 0 rg BT 510.69 557.00 Td (existing ) Tj ET Q q 0 0 0 rg BT 544.97 557.00 Td (variable-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 48.99 545.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.47 545.00 Td (instruments\) ) Tj ET Q q 0 0 0 rg BT 138.96 545.00 Td (is ) Tj ET Q q 0 0 0 rg BT 148.13 545.00 Td (approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 208.39 545.00 Td (two ) Tj ET Q q 0 0 0 rg BT 225.89 545.00 Td (years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 246.99 545.00 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.00 Td (During ) Tj ET Q q 0 0 0 rg BT 61.13 527.00 Td (the ) Tj ET Q q 0 0 0 rg BT 74.65 527.00 Td (year ) Tj ET Q q 0 0 0 rg BT 93.16 527.00 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.34 527.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 175.72 527.00 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 195.72 527.00 Td (, ) Tj ET Q q 0 0 0 rg BT 199.52 527.00 Td (the ) Tj ET Q q 0 0 0 rg BT 213.04 527.00 Td (Company ) Tj ET Q q 0 0 0 rg BT 253.23 527.00 Td (had ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.97 527.00 Td (no) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.97 527.00 Td ( ) Tj ET Q q 0 0 0 rg BT 280.27 527.00 Td (net ) Tj ET Q q 0 0 0 rg BT 293.79 527.00 Td (reclassifications ) Tj ET Q q 0 0 0 rg BT 359.51 527.00 Td (from ) Tj ET Q q 0 0 0 rg BT 379.96 527.00 Td (AOCI ) Tj ET Q q 0 0 0 rg BT 405.71 527.00 Td (to ) Tj ET Q q 0 0 0 rg BT 414.78 527.00 Td (earnings ) Tj ET Q q 0 0 0 rg BT 449.96 527.00 Td (resulting ) Tj ET Q q 0 0 0 rg BT 486.26 527.00 Td (from ) Tj ET Q q 0 0 0 rg BT 507.00 527.00 Td (the ) Tj ET Q q 0 0 0 rg BT 520.52 527.00 Td (discontinuance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.00 Td (of ) Tj ET Q q 0 0 0 rg BT 42.12 515.00 Td (cash-flow ) Tj ET Q q 0 0 0 rg BT 83.83 515.00 Td (hedges ) Tj ET Q q 0 0 0 rg BT 113.89 515.00 Td (due ) Tj ET Q q 0 0 0 rg BT 130.62 515.00 Td (to ) Tj ET Q q 0 0 0 rg BT 140.68 515.00 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 184.05 515.00 Td (transactions ) Tj ET Q q 0 0 0 rg BT 234.10 515.00 Td (that ) Tj ET Q q 0 0 0 rg BT 251.39 515.00 Td (were ) Tj ET Q q 0 0 0 rg BT 273.10 515.00 Td (no ) Tj ET Q q 0 0 0 rg BT 285.39 515.00 Td (longer ) Tj ET Q q 0 0 0 rg BT 313.23 515.00 Td (probable ) Tj ET Q q 0 0 0 rg BT 350.50 515.00 Td (of ) Tj ET Q q 0 0 0 rg BT 361.12 515.00 Td (occurring. ) Tj ET Q q 0 0 0 rg BT 404.22 515.00 Td ( ) Tj ET Q q 0 0 0 rg BT 406.51 515.00 Td (For ) Tj ET Q q 0 0 0 rg BT 422.69 515.00 Td (the ) Tj ET Q q 0 0 0 rg BT 437.19 515.00 Td (year ) Tj ET Q q 0 0 0 rg BT 456.69 515.00 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.85 515.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 541.22 515.00 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.22 515.00 Td ( ) Tj ET Q q 0 0 0 rg BT 563.51 515.00 Td (, ) Tj ET Q q 0 0 0 rg BT 568.30 515.00 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 503.00 Td (before-tax ) Tj ET Q q 0 0 0 rg BT 75.19 503.00 Td (deferred ) Tj ET Q q 0 0 0 rg BT 111.11 503.00 Td (net ) Tj ET Q q 0 0 0 rg BT 125.94 503.00 Td (gains ) Tj ET Q q 0 0 0 rg BT 149.65 503.00 Td (on ) Tj ET Q q 0 0 0 rg BT 162.26 503.00 Td (derivative ) Tj ET Q q 0 0 0 rg BT 204.85 503.00 Td (instruments ) Tj ET Q q 0 0 0 rg BT 254.13 503.00 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 302.27 503.00 Td (from ) Tj ET Q q 0 0 0 rg BT 323.74 503.00 Td (AOCI ) Tj ET Q q 0 0 0 rg BT 350.80 503.00 Td (to ) Tj ET Q q 0 0 0 rg BT 361.19 503.00 Td (earnings ) Tj ET Q q 0 0 0 rg BT 397.67 503.00 Td (totaled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.49 503.00 Td ($99) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.49 503.00 Td ( ) Tj ET Q q 0 0 0 rg BT 445.10 503.00 Td (which ) Tj ET Q q 0 0 0 rg BT 472.15 503.00 Td (primarily ) Tj ET Q q 0 0 0 rg BT 511.97 503.00 Td (resulted ) Tj ET Q q 0 0 0 rg BT 546.24 503.00 Td (from ) Tj ET Q q 0 0 0 rg BT 568.29 503.00 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.00 Td (discontinuance ) Tj ET Q q 0 0 0 rg BT 93.69 491.00 Td (of ) Tj ET Q q 0 0 0 rg BT 104.23 491.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 124.20 491.00 Td (flow ) Tj ET Q q 0 0 0 rg BT 144.74 491.00 Td (hedges ) Tj ET Q q 0 0 0 rg BT 174.72 491.00 Td (due ) Tj ET Q q 0 0 0 rg BT 191.37 491.00 Td (to ) Tj ET Q q 0 0 0 rg BT 201.35 491.00 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 244.65 491.00 Td (transactions ) Tj ET Q q 0 0 0 rg BT 294.62 491.00 Td (no ) Tj ET Q q 0 0 0 rg BT 306.83 491.00 Td (longer ) Tj ET Q q 0 0 0 rg BT 334.58 491.00 Td (probable ) Tj ET Q q 0 0 0 rg BT 371.78 491.00 Td (of ) Tj ET Q q 0 0 0 rg BT 382.31 491.00 Td (occurring ) Tj ET Q q 0 0 0 rg BT 422.84 491.00 Td (associated ) Tj ET Q q 0 0 0 rg BT 466.14 491.00 Td (with ) Tj ET Q q 0 0 0 rg BT 486.13 491.00 Td (variable ) Tj ET Q q 0 0 0 rg BT 520.54 491.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 537.73 491.00 Td (bonds ) Tj ET Q q 0 0 0 rg BT 563.83 491.00 Td (sold ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.00 Td (as ) Tj ET Q q 0 0 0 rg BT 42.21 479.00 Td (part ) Tj ET Q q 0 0 0 rg BT 60.15 479.00 Td (of ) Tj ET Q q 0 0 0 rg BT 70.86 479.00 Td (the ) Tj ET Q q 0 0 0 rg BT 85.46 479.00 Td (Individual ) Tj ET Q q 0 0 0 rg BT 128.95 479.00 Td (Life ) Tj ET Q q 0 0 0 rg BT 147.99 479.00 Td (and ) Tj ET Q q 0 0 0 rg BT 164.81 479.00 Td (Retirement ) Tj ET Q q 0 0 0 rg BT 211.62 479.00 Td (Plans ) Tj ET Q q 0 0 0 rg BT 235.68 479.00 Td (business ) Tj ET Q q 0 0 0 rg BT 271.95 479.00 Td (dispositions. ) Tj ET Q q 0 0 0 rg BT 324.63 479.00 Td (For ) Tj ET Q q 0 0 0 rg BT 340.90 479.00 Td (further ) Tj ET Q q 0 0 0 rg BT 370.49 479.00 Td (information ) Tj ET Q q 0 0 0 rg BT 420.09 479.00 Td (on ) Tj ET Q q 0 0 0 rg BT 432.47 479.00 Td (the ) Tj ET Q q 0 0 0 rg BT 447.08 479.00 Td (business ) Tj ET Q q 0 0 0 rg BT 483.35 479.00 Td (dispositions, ) Tj ET Q q 0 0 0 rg BT 536.02 479.00 Td (see ) Tj ET Q q 0 0 0 rg BT 551.18 479.00 Td (Note ) Tj ET Q q 0 0 0 rg BT 573.00 479.00 Td (2. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.00 Td (For ) Tj ET Q q 0 0 0 rg BT 47.35 467.00 Td (the ) Tj ET Q q 0 0 0 rg BT 61.52 467.00 Td (year ) Tj ET Q q 0 0 0 rg BT 80.69 467.00 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 106.52 467.00 Td (December31, ) Tj ET Q q 0 0 0 rg BT 164.56 467.00 Td (201) Tj ET Q q 0 0 0 rg BT 179.19 467.00 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.19 467.00 Td (, ) Tj ET Q q 0 0 0 rg BT 188.65 467.00 Td (the ) Tj ET Q q 0 0 0 rg BT 202.82 467.00 Td (Company ) Tj ET Q q 0 0 0 rg BT 243.67 467.00 Td (had ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.06 467.00 Td (no) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.06 467.00 Td ( ) Tj ET Q q 0 0 0 rg BT 272.02 467.00 Td (net ) Tj ET Q q 0 0 0 rg BT 286.19 467.00 Td (reclassifications, ) Tj ET Q q 0 0 0 rg BT 355.07 467.00 Td (from ) Tj ET Q q 0 0 0 rg BT 376.03 467.00 Td (AOCI ) Tj ET Q q 0 0 0 rg BT 402.43 467.00 Td (to ) Tj ET Q q 0 0 0 rg BT 412.17 467.00 Td (earnings ) Tj ET Q q 0 0 0 rg BT 448.00 467.00 Td (resulting ) Tj ET Q q 0 0 0 rg BT 484.95 467.00 Td (from ) Tj ET Q q 0 0 0 rg BT 506.35 467.00 Td (the ) Tj ET Q q 0 0 0 rg BT 520.52 467.00 Td (discontinuance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.00 Td (of ) Tj ET Q q 0 0 0 rg BT 42.33 455.00 Td (cash-flow ) Tj ET Q q 0 0 0 rg BT 84.26 455.00 Td (hedges ) Tj ET Q q 0 0 0 rg BT 114.53 455.00 Td (due ) Tj ET Q q 0 0 0 rg BT 131.47 455.00 Td (to ) Tj ET Q q 0 0 0 rg BT 141.74 455.00 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 185.33 455.00 Td (transactions ) Tj ET Q q 0 0 0 rg BT 235.59 455.00 Td (that ) Tj ET Q q 0 0 0 rg BT 253.09 455.00 Td (were ) Tj ET Q q 0 0 0 rg BT 275.02 455.00 Td (no ) Tj ET Q q 0 0 0 rg BT 287.52 455.00 Td (longer ) Tj ET Q q 0 0 0 rg BT 315.56 455.00 Td (probable ) Tj ET Q q 0 0 0 rg BT 353.05 455.00 Td (of ) Tj ET Q q 0 0 0 rg BT 363.88 455.00 Td (occurring. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 437.00 Td (Fair) Tj ET Q q 0 0 0 rg BT 49.64 437.00 Td ( ) Tj ET Q q 0 0 0 rg BT 51.96 437.00 Td (V) Tj ET Q q 0 0 0 rg BT 58.27 437.00 Td (alue ) Tj ET Q q 0 0 0 rg BT 78.55 437.00 Td (Hedges) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.00 Td (For ) Tj ET Q q 0 0 0 rg BT 47.73 419.00 Td (derivative ) Tj ET Q q 0 0 0 rg BT 90.04 419.00 Td (instruments ) Tj ET Q q 0 0 0 rg BT 139.04 419.00 Td (that ) Tj ET Q q 0 0 0 rg BT 156.37 419.00 Td (are ) Tj ET Q q 0 0 0 rg BT 170.91 419.00 Td (designated ) Tj ET Q q 0 0 0 rg BT 216.01 419.00 Td (and ) Tj ET Q q 0 0 0 rg BT 232.78 419.00 Td (qualify ) Tj ET Q q 0 0 0 rg BT 263.44 419.00 Td (as ) Tj ET Q q 0 0 0 rg BT 274.10 419.00 Td (a ) Tj ET Q q 0 0 0 rg BT 280.88 419.00 Td (fair ) Tj ET Q q 0 0 0 rg BT 297.09 419.00 Td (value ) Tj ET Q q 0 0 0 rg BT 321.08 419.00 Td (hedge, ) Tj ET Q q 0 0 0 rg BT 349.79 419.00 Td (the ) Tj ET Q q 0 0 0 rg BT 364.34 419.00 Td (gain ) Tj ET Q q 0 0 0 rg BT 383.89 419.00 Td (or ) Tj ET Q q 0 0 0 rg BT 394.55 419.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 412.45 419.00 Td (on ) Tj ET Q q 0 0 0 rg BT 424.78 419.00 Td (the ) Tj ET Q q 0 0 0 rg BT 439.33 419.00 Td (derivative; ) Tj ET Q q 0 0 0 rg BT 484.42 419.00 Td (as ) Tj ET Q q 0 0 0 rg BT 495.09 419.00 Td (well ) Tj ET Q q 0 0 0 rg BT 514.64 419.00 Td (as, ) Tj ET Q q 0 0 0 rg BT 527.80 419.00 Td (the ) Tj ET Q q 0 0 0 rg BT 542.35 419.00 Td (of) Tj ET Q q 0 0 0 rg BT 550.50 419.00 Td (fsetting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 49.68 407.00 Td (or ) Tj ET Q q 0 0 0 rg BT 60.63 407.00 Td (gain ) Tj ET Q q 0 0 0 rg BT 80.46 407.00 Td (on ) Tj ET Q q 0 0 0 rg BT 93.08 407.00 Td (the ) Tj ET Q q 0 0 0 rg BT 107.91 407.00 Td (hedged ) Tj ET Q q 0 0 0 rg BT 139.41 407.00 Td (item ) Tj ET Q q 0 0 0 rg BT 159.80 407.00 Td (attributable ) Tj ET Q q 0 0 0 rg BT 207.95 407.00 Td (to ) Tj ET Q q 0 0 0 rg BT 218.35 407.00 Td (the ) Tj ET Q q 0 0 0 rg BT 233.18 407.00 Td (hedged ) Tj ET Q q 0 0 0 rg BT 264.67 407.00 Td (risk ) Tj ET Q q 0 0 0 rg BT 282.29 407.00 Td (are ) Tj ET Q q 0 0 0 rg BT 297.12 407.00 Td (recognized ) Tj ET Q q 0 0 0 rg BT 343.59 407.00 Td (in ) Tj ET Q q 0 0 0 rg BT 353.99 407.00 Td (current ) Tj ET Q q 0 0 0 rg BT 384.92 407.00 Td (earnings. ) Tj ET Q q 0 0 0 rg BT 423.73 407.00 Td (The ) Tj ET Q q 0 0 0 rg BT 441.89 407.00 Td (Company ) Tj ET Q q 0 0 0 rg BT 483.40 407.00 Td (includes ) Tj ET Q q 0 0 0 rg BT 519.34 407.00 Td (the ) Tj ET Q q 0 0 0 rg BT 534.17 407.00 Td (gain ) Tj ET Q q 0 0 0 rg BT 554.01 407.00 Td (or ) Tj ET Q q 0 0 0 rg BT 564.95 407.00 Td (loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 395.00 Td (on ) Tj ET Q q 0 0 0 rg BT 44.20 395.00 Td (the ) Tj ET Q q 0 0 0 rg BT 59.11 395.00 Td (derivative ) Tj ET Q q 0 0 0 rg BT 101.79 395.00 Td (in ) Tj ET Q q 0 0 0 rg BT 112.26 395.00 Td (the ) Tj ET Q q 0 0 0 rg BT 127.18 395.00 Td (same ) Tj ET Q q 0 0 0 rg BT 150.42 395.00 Td (line ) Tj ET Q q 0 0 0 rg BT 168.11 395.00 Td (item ) Tj ET Q q 0 0 0 rg BT 188.58 395.00 Td (as ) Tj ET Q q 0 0 0 rg BT 199.61 395.00 Td (the ) Tj ET Q q 0 0 0 rg BT 214.52 395.00 Td (of) Tj ET Q q 0 0 0 rg BT 222.67 395.00 Td (fsetting ) Tj ET Q q 0 0 0 rg BT 255.36 395.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 273.62 395.00 Td (or ) Tj ET Q q 0 0 0 rg BT 284.65 395.00 Td (gain ) Tj ET Q q 0 0 0 rg BT 304.56 395.00 Td (on ) Tj ET Q q 0 0 0 rg BT 317.26 395.00 Td (the ) Tj ET Q q 0 0 0 rg BT 332.17 395.00 Td (hedged ) Tj ET Q q 0 0 0 rg BT 363.75 395.00 Td (item. ) Tj ET Q q 0 0 0 rg BT 386.12 395.00 Td (All ) Tj ET Q q 0 0 0 rg BT 401.60 395.00 Td (components ) Tj ET Q q 0 0 0 rg BT 452.62 395.00 Td (of ) Tj ET Q q 0 0 0 rg BT 463.65 395.00 Td (each ) Tj ET Q q 0 0 0 rg BT 484.66 395.00 Td (derivative) Tj ET Q q 0 0 0 rg BT 527.42 395.00 Td (s ) Tj ET Q q 0 0 0 rg BT 534.00 395.00 Td (gain ) Tj ET Q q 0 0 0 rg BT 553.92 395.00 Td (or ) Tj ET Q q 0 0 0 rg BT 564.95 395.00 Td (loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.00 Td (were ) Tj ET Q q 0 0 0 rg BT 53.43 383.00 Td (included ) Tj ET Q q 0 0 0 rg BT 90.36 383.00 Td (in ) Tj ET Q q 0 0 0 rg BT 100.64 383.00 Td (the ) Tj ET Q q 0 0 0 rg BT 115.36 383.00 Td (assessment ) Tj ET Q q 0 0 0 rg BT 162.30 383.00 Td (of ) Tj ET Q q 0 0 0 rg BT 173.13 383.00 Td (hedge ) Tj ET Q q 0 0 0 rg BT 199.50 383.00 Td (ef) Tj ET Q q 0 0 0 rg BT 207.09 383.00 Td (fectiveness.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.00 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 365.00 Td (Company ) Tj ET Q q 0 0 0 rg BT 90.93 365.00 Td (recognized ) Tj ET Q q 0 0 0 rg BT 137.30 365.00 Td (in ) Tj ET Q q 0 0 0 rg BT 147.57 365.00 Td (income ) Tj ET Q q 0 0 0 rg BT 179.51 365.00 Td (gains ) Tj ET Q q 0 0 0 rg BT 203.12 365.00 Td (\(losses\)representing ) Tj ET Q q 0 0 0 rg BT 288.09 365.00 Td (the ) Tj ET Q q 0 0 0 rg BT 302.81 365.00 Td (inef) Tj ET Q q 0 0 0 rg BT 318.17 365.00 Td (fective ) Tj ET Q q 0 0 0 rg BT 347.88 365.00 Td (portion ) Tj ET Q q 0 0 0 rg BT 379.26 365.00 Td (of ) Tj ET Q q 0 0 0 rg BT 390.09 365.00 Td (fair ) Tj ET Q q 0 0 0 rg BT 406.47 365.00 Td (value ) Tj ET Q q 0 0 0 rg BT 430.63 365.00 Td (hedges ) Tj ET Q q 0 0 0 rg BT 460.89 365.00 Td (as ) Tj ET Q q 0 0 0 rg BT 471.72 365.00 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 296.50 232.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 264.00 296.50 49.00 -12.00 re f 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370 296.5 m 419 296.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 296.5 m 475 296.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 296.5 m 525 296.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 296.5 m 581 296.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 216.5 m 264 216.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 203.5 m 264 203.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 264 216.5 m 313 216.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 264 203.5 m 313 203.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 313 216.5 m 370 216.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313 203.5 m 370 203.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 370 216.5 m 419 216.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 203.5 m 419 203.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419 216.5 m 475 216.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 203.5 m 475 203.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 475 216.5 m 525 216.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 475 203.5 m 525 203.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 216.5 m 581 216.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 203.5 m 581 203.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 213.65 339.95 Td (Derivatives in Fair Value Hedging Relationships) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 328.76 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 349.85 328.90 Td (Gain \(Loss\) Recognized in Income [1]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 316.76 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.35 316.90 Td ( 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 411.85 316.90 Td ( 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 518.70 316.90 Td (2011) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 300.96 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 268.00 300.95 Td (Derivative) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 316.10 300.95 Td (Hedged Item) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 374.00 300.95 Td (Derivative) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.60 300.95 Td (Hedged Item) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 479.50 300.95 Td (Derivative) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 527.60 300.95 Td (Hedged Item) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 287.12 Td (Interest rate swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 275.07 Td (Net realized capital gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.50 275.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.15 275.07 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.50 275.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.80 275.12 Td (\(30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 275.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.50 275.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.80 275.12 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 275.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.50 275.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.80 275.12 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 275.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.50 275.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.80 275.12 Td (\(73) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 275.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 275.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 275.07 Td (70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 262.07 Td (Benefits, losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.15 262.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.15 262.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.15 262.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.15 262.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.80 262.12 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 262.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 262.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 248.07 Td (Foreign currency swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.50 248.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.50 248.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 248.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 248.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 235.07 Td (Net realized capital gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.15 235.07 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.80 235.12 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.15 235.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.80 235.12 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 235.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 235.07 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.80 235.12 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 235.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 235.07 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 221.17 Td (Benefits, losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.80 221.22 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 221.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.15 221.17 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.80 221.22 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 221.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 221.17 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.80 221.22 Td (\(22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 221.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 221.17 Td (22) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 207.23 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.50 207.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 299.15 207.23 Td (31) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 315.50 207.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 352.80 207.28 Td (\(29) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 366.15 207.23 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.50 207.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 401.80 207.28 Td (\(16) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.15 207.23 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.50 207.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 461.15 207.23 Td (10) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 477.50 207.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 507.80 207.28 Td (\(97) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.15 207.23 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 207.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 567.15 207.23 Td (93) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 187.20 Td ([1] ) Tj ET Q q 0 0 0 rg BT 49.50 187.20 Td (The amounts pr) Tj ET Q q 0 0 0 rg BT 105.67 187.20 Td (esented do not include the periodic net coupon settlements of the derivative or the coupon income \(expense\)r) Tj ET Q q 0 0 0 rg BT 499.47 187.20 Td (elated to the hedged ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 176.45 Td (item. The net of the amounts pr) Tj ET Q q 0 0 0 rg BT 161.41 176.45 Td (esented r) Tj ET Q q 0 0 0 rg BT 193.81 176.45 Td (epr) Tj ET Q q 0 0 0 rg BT 205.48 176.45 Td (esents the ineffective portion of the hedge.) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 395 0 obj <> endobj 396 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-61) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Non-qualifying ) Tj ET Q q 0 0 0 rg BT 98.46 713.25 Td (Strategies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (For ) Tj ET Q q 0 0 0 rg BT 48.27 695.25 Td (non-qualifying ) Tj ET Q q 0 0 0 rg BT 110.58 695.25 Td (strategies, ) Tj ET Q q 0 0 0 rg BT 153.72 695.25 Td (including ) Tj ET Q q 0 0 0 rg BT 194.37 695.25 Td (embedded ) Tj ET Q q 0 0 0 rg BT 238.34 695.25 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 285.09 695.25 Td (that ) Tj ET Q q 0 0 0 rg BT 302.97 695.25 Td (are ) Tj ET Q q 0 0 0 rg BT 318.05 695.25 Td (required ) Tj ET Q q 0 0 0 rg BT 354.24 695.25 Td (to ) Tj ET Q q 0 0 0 rg BT 364.90 695.25 Td (be ) Tj ET Q q 0 0 0 rg BT 377.21 695.25 Td (bifurcated ) Tj ET Q q 0 0 0 rg BT 420.62 695.25 Td (from ) Tj ET Q q 0 0 0 rg BT 442.94 695.25 Td (their ) Tj ET Q q 0 0 0 rg BT 464.14 695.25 Td (host ) Tj ET Q q 0 0 0 rg BT 483.69 695.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 522.66 695.25 Td (and ) Tj ET Q q 0 0 0 rg BT 539.98 695.25 Td (accounted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (for ) Tj ET Q q 0 0 0 rg BT 44.72 683.25 Td (as ) Tj ET Q q 0 0 0 rg BT 54.61 683.25 Td (derivatives, ) Tj ET Q q 0 0 0 rg BT 102.54 683.25 Td (the ) Tj ET Q q 0 0 0 rg BT 116.32 683.25 Td (gain ) Tj ET Q q 0 0 0 rg BT 135.09 683.25 Td (or ) Tj ET Q q 0 0 0 rg BT 144.98 683.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 162.10 683.25 Td (on ) Tj ET Q q 0 0 0 rg BT 173.66 683.25 Td (the ) Tj ET Q q 0 0 0 rg BT 187.44 683.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 228.98 683.25 Td (is ) Tj ET Q q 0 0 0 rg BT 237.20 683.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 282.63 683.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 320.28 683.25 Td (in ) Tj ET Q q 0 0 0 rg BT 329.62 683.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 365.05 683.25 Td (within ) Tj ET Q q 0 0 0 rg BT 392.17 683.25 Td (net ) Tj ET Q q 0 0 0 rg BT 405.94 683.25 Td (realized ) Tj ET Q q 0 0 0 rg BT 439.14 683.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 467.35 683.25 Td (gains ) Tj ET Q q 0 0 0 rg BT 490.02 683.25 Td (\(losses\). ) Tj ET Q q 0 0 0 rg BT 524.52 683.25 Td (The ) Tj ET Q q 0 0 0 rg BT 541.62 683.25 Td (following ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (table ) Tj ET Q q 0 0 0 rg BT 53.43 671.25 Td (presents ) Tj ET Q q 0 0 0 rg BT 88.70 671.25 Td (the ) Tj ET Q q 0 0 0 rg BT 103.42 671.25 Td (gain ) Tj ET Q q 0 0 0 rg BT 123.14 671.25 Td (or ) Tj ET Q q 0 0 0 rg BT 133.97 671.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 152.03 671.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 198.39 671.25 Td (in ) Tj ET Q q 0 0 0 rg BT 208.67 671.25 Td (income ) Tj ET Q q 0 0 0 rg BT 240.60 671.25 Td (on ) Tj ET Q q 0 0 0 rg BT 253.10 671.25 Td (non-qualifying ) Tj ET Q q 0 0 0 rg BT 315.04 671.25 Td (strategies:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 602.75 381.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 602.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 602.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 602.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 577.75 381.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 577.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 577.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 577.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 552.75 381.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 552.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 552.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 552.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 526.75 381.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 526.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 526.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 526.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 501.75 381.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 501.75 56.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 501.75 56.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 501.75 56.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 477.75 381.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 477.75 56.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 477.75 56.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 477.75 56.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 453.75 381.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 453.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 453.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 453.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 429.75 381.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 429.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 429.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 429.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 403.75 381.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 403.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 403.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 403.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 377.75 381.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 377.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 377.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 377.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 353.75 381.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 353.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 353.75 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 353.75 56.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 628.75 m 413 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 628.75 m 469 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 628.75 m 525 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 628.75 m 581 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 614.75 m 469 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 614.75 m 525 614.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 614.75 m 581 614.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 614.75 m 469 614.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 602.75 m 469 602.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 614.75 m 525 614.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 602.75 m 525 602.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 614.75 m 581 614.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 602.75 m 581 602.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 341.75 m 469 341.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 341.75 m 413 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 329.75 m 413 329.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 341.75 m 469 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 329.75 m 469 329.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 341.75 m 525 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 329.75 m 525 329.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 341.75 m 581 341.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 329.75 m 581 329.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 256.85 646.15 Td (Non-qualifying Strategies) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 177.25 633.15 Td (Gain \(Loss\) Recognized within Net Realized Capital Gains \(Losses\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 619.21 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 470.30 619.20 Td (December 31,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 606.01 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.35 606.15 Td ( 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 486.35 606.15 Td ( 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.70 606.15 Td (2011) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 34.50 593.36 Td (Interest rate contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 581.32 Td (Interest rate swaps, caps, floors, and forwards) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 581.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 581.32 Td (54) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 581.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 581.32 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 581.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 581.32 Td (\(22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 581.32 Td (\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 34.50 568.31 Td (Foreign exchange contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 555.37 Td (Foreign currency swaps and forwards) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 555.37 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 555.37 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 555.37 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 543.32 Td (Japan 3Win foreign currency swaps [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 543.37 Td (\(268) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 543.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.80 543.37 Td (\(300) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 543.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 543.32 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 530.32 Td (Japanese fixed annuity hedging instruments [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 530.37 Td (\(207) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 530.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.80 530.37 Td (\(178) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 530.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 530.32 Td (109) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 34.50 517.36 Td (Credit contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 505.32 Td (Credit derivatives that purchase credit protection) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.80 505.37 Td (\(38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 505.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.80 505.37 Td (\(64) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 505.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 505.32 Td (\(10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 505.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 492.37 Td (Credit derivatives that assume credit risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 492.37 Td (72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 492.37 Td (293) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 492.37 Td (\(174) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 492.37 Td (\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 34.50 481.31 Td (Equity contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 468.37 Td (Equity index swaps and options) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.80 468.37 Td (\(33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 468.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.80 468.37 Td (\(39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 468.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 468.37 Td (\(89) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 468.37 Td (\)) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 34.50 457.31 Td (Variable annuity hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 444.37 Td (U.S. GMWB product derivative) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.65 444.37 Td (1,306) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 444.37 Td (1,430) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 444.37 Td (\(780) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 444.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 432.37 Td (U.S. GMWB reinsurance contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 432.37 Td (\(192) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 432.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.80 432.37 Td (\(280) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 432.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 432.37 Td (131) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 420.32 Td (U.S. GMWB hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 420.37 Td (\(852) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 420.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.80 420.37 Td (\(631) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 420.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 420.32 Td (252) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 407.32 Td (U.S. macro hedge program) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.80 407.37 Td (\(234) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 407.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.80 407.37 Td (\(340) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 407.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 407.32 Td (\(216) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 407.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 394.32 Td (International program product derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 394.32 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 394.32 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 394.32 Td (\(13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 394.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 381.32 Td (International program hedging instruments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.30 381.37 Td (\(1,602) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 381.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.30 381.37 Td (\(1,509) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 381.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 381.32 Td (704) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 34.50 368.36 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 356.37 Td (Contingent capital facility put option) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.80 356.37 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 356.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.80 356.37 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 356.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 356.37 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 356.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 344.37 Td (Modified coinsurance reinsurance contracts) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 344.37 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 344.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 344.37 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 332.48 Td (Total [3]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.50 332.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.30 332.53 Td (\(1,916) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.15 332.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 332.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.30 332.53 Td (\(1,542) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.15 332.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 332.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 563.80 332.48 Td (\(79) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 332.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 313.45 Td ([1] ) Tj ET Q q 0 0 0 rg BT 85.50 313.45 Td (The associated liability is adjusted for changes in spot rates thr) Tj ET Q q 0 0 0 rg BT 314.16 313.45 Td (ough r) Tj ET Q q 0 0 0 rg BT 337.58 313.45 Td (ealized capital gains and was ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 446.33 313.45 Td ($250) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 464.33 313.45 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 468.83 313.45 Td ($189) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 486.83 313.45 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 504.83 313.45 Td ($\(100\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 528.82 313.45 Td ( for the years ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 302.65 Td (ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 109.24 302.65 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 179.97 302.65 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 184.47 302.65 Td ( 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 204.72 302.65 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 222.72 302.65 Td (201) Tj ET Q q 0 0 0 rg BT 235.55 302.65 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 240.05 302.65 Td (, r) Tj ET Q q 0 0 0 rg BT 247.72 302.65 Td (espectively) Tj ET Q q 0 0 0 rg BT 286.69 302.65 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 291.85 Td ([2] ) Tj ET Q q 0 0 0 rg BT 85.50 291.85 Td (The associated liability is adjusted for changes in spot rates thr) Tj ET Q q 0 0 0 rg BT 314.16 291.85 Td (ough r) Tj ET Q q 0 0 0 rg BT 337.58 291.85 Td (ealized capital gains and losses and was ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 485.83 291.85 Td ($324) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 503.83 291.85 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 508.33 291.85 Td ($245) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 526.33 291.85 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 544.33 291.85 Td ($\(129\)) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 568.32 291.85 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 281.05 Td (for the years ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 156.98 281.05 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 227.71 281.05 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 232.21 281.05 Td ( 2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 252.46 281.05 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 270.46 281.05 Td (201) Tj ET Q q 0 0 0 rg BT 283.29 281.05 Td (1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 287.79 281.05 Td (, r) Tj ET Q q 0 0 0 rg BT 295.46 281.05 Td (espectively) Tj ET Q q 0 0 0 rg BT 334.44 281.05 Td (.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 270.25 Td ([3] ) Tj ET Q q 0 0 0 rg BT 85.50 270.25 Td (Excludes investments that contain an embedded cr) Tj ET Q q 0 0 0 rg BT 267.12 270.25 Td (edit derivative for which the Company has elected the fair value option. For further ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.50 259.45 Td (discussion, see the Fair V) Tj ET Q q 0 0 0 rg BT 177.24 259.45 Td (alue Option section in Note 5 - Fair V) Tj ET Q q 0 0 0 rg BT 313.22 259.45 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 358.13 259.45 Td (ements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 241.45 Td (For ) Tj ET Q q 0 0 0 rg BT 48.91 241.45 Td (the ) Tj ET Q q 0 0 0 rg BT 64.65 241.45 Td (year ) Tj ET Q q 0 0 0 rg BT 85.37 241.45 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.77 241.45 Td (December31, ) Tj ET Q q 0 0 0 rg BT 172.37 241.45 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.37 241.45 Td ( ) Tj ET Q q 0 0 0 rg BT 195.89 241.45 Td (the ) Tj ET Q q 0 0 0 rg BT 211.63 241.45 Td (net ) Tj ET Q q 0 0 0 rg BT 227.37 241.45 Td (realized ) Tj ET Q q 0 0 0 rg BT 262.53 241.45 Td (capital ) Tj ET Q q 0 0 0 rg BT 292.70 241.45 Td (gain ) Tj ET Q q 0 0 0 rg BT 313.43 241.45 Td (\(loss\)related ) Tj ET Q q 0 0 0 rg BT 368.88 241.45 Td (to ) Tj ET Q q 0 0 0 rg BT 380.17 241.45 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 427.57 241.45 Td (used ) Tj ET Q q 0 0 0 rg BT 449.42 241.45 Td (in ) Tj ET Q q 0 0 0 rg BT 460.71 241.45 Td (non-qualifying ) Tj ET Q q 0 0 0 rg BT 523.67 241.45 Td (strategies ) Tj ET Q q 0 0 0 rg BT 564.95 241.45 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 229.45 Td (primarily ) Tj ET Q q 0 0 0 rg BT 71.21 229.45 Td (comprised ) Tj ET Q q 0 0 0 rg BT 115.37 229.45 Td (of ) Tj ET Q q 0 0 0 rg BT 126.20 229.45 Td (the ) Tj ET Q q 0 0 0 rg BT 140.91 229.45 Td (following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 211.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 211.45 Td (The ) Tj ET Q q 0 0 0 rg BT 74.46 211.45 Td (net ) Tj ET Q q 0 0 0 rg BT 88.73 211.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 106.36 211.45 Td (associated ) Tj ET Q q 0 0 0 rg BT 149.51 211.45 Td (with ) Tj ET Q q 0 0 0 rg BT 169.35 211.45 Td (the ) Tj ET Q q 0 0 0 rg BT 183.63 211.45 Td (international ) Tj ET Q q 0 0 0 rg BT 236.22 211.45 Td (program ) Tj ET Q q 0 0 0 rg BT 272.16 211.45 Td (hedging ) Tj ET Q q 0 0 0 rg BT 306.44 211.45 Td (instruments ) Tj ET Q q 0 0 0 rg BT 355.17 211.45 Td (was ) Tj ET Q q 0 0 0 rg BT 372.78 211.45 Td (primarily ) Tj ET Q q 0 0 0 rg BT 412.05 211.45 Td (driven ) Tj ET Q q 0 0 0 rg BT 439.66 211.45 Td (by ) Tj ET Q q 0 0 0 rg BT 451.72 211.45 Td (an ) Tj ET Q q 0 0 0 rg BT 463.22 211.45 Td (improvement ) Tj ET Q q 0 0 0 rg BT 518.60 211.45 Td (in ) Tj ET Q q 0 0 0 rg BT 528.44 211.45 Td (global ) Tj ET Q q 0 0 0 rg BT 555.49 211.45 Td (equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 199.45 Td (markets ) Tj ET Q q 0 0 0 rg BT 91.01 199.45 Td (and ) Tj ET Q q 0 0 0 rg BT 107.94 199.45 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 159.86 199.45 Td (of ) Tj ET Q q 0 0 0 rg BT 170.69 199.45 Td (the ) Tj ET Q q 0 0 0 rg BT 185.41 199.45 Td (Japanese ) Tj ET Q q 0 0 0 rg BT 223.45 199.45 Td (yen ) Tj ET Q q 0 0 0 rg BT 240.39 199.45 Td (in ) Tj ET Q q 0 0 0 rg BT 250.66 199.45 Td (relation ) Tj ET Q q 0 0 0 rg BT 283.71 199.45 Td (to ) Tj ET Q q 0 0 0 rg BT 293.98 199.45 Td (the ) Tj ET Q q 0 0 0 rg BT 308.70 199.45 Td (euro ) Tj ET Q q 0 0 0 rg BT 328.97 199.45 Td (and ) Tj ET Q q 0 0 0 rg BT 345.91 199.45 Td (the ) Tj ET Q q 0 0 0 rg BT 360.62 199.45 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 380.91 199.45 Td (dollar) Tj ET Q q 0 0 0 rg BT 403.68 199.45 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 181.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 181.45 Td (The ) Tj ET Q q 0 0 0 rg BT 74.69 181.45 Td (net ) Tj ET Q q 0 0 0 rg BT 89.20 181.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 107.06 181.45 Td (related ) Tj ET Q q 0 0 0 rg BT 136.55 181.45 Td (to ) Tj ET Q q 0 0 0 rg BT 146.63 181.45 Td (the ) Tj ET Q q 0 0 0 rg BT 161.14 181.45 Td (Japan ) Tj ET Q q 0 0 0 rg BT 186.20 181.45 Td (3W) Tj ET Q q 0 0 0 rg BT 200.24 181.45 Td (in ) Tj ET Q q 0 0 0 rg BT 210.31 181.45 Td (foreign ) Tj ET Q q 0 0 0 rg BT 241.48 181.45 Td (currency ) Tj ET Q q 0 0 0 rg BT 278.75 181.45 Td (swaps ) Tj ET Q q 0 0 0 rg BT 305.49 181.45 Td (and ) Tj ET Q q 0 0 0 rg BT 322.22 181.45 Td (Japanese ) Tj ET Q q 0 0 0 rg BT 360.05 181.45 Td (fixed ) Tj ET Q q 0 0 0 rg BT 382.89 181.45 Td (annuity ) Tj ET Q q 0 0 0 rg BT 415.18 181.45 Td (hedging ) Tj ET Q q 0 0 0 rg BT 449.69 181.45 Td (instruments ) Tj ET Q q 0 0 0 rg BT 498.65 181.45 Td (was ) Tj ET Q q 0 0 0 rg BT 516.50 181.45 Td (primarily ) Tj ET Q q 0 0 0 rg BT 556.00 181.45 Td (due ) Tj ET Q q 0 0 0 rg BT 572.73 181.45 Td (to ) Tj ET Q q 0 0 0 rg BT 583.01 181.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 169.45 Td (the ) Tj ET Q q 0 0 0 rg BT 71.57 169.45 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 123.49 169.45 Td (of ) Tj ET Q q 0 0 0 rg BT 134.32 169.45 Td (the ) Tj ET Q q 0 0 0 rg BT 149.03 169.45 Td (Japanese ) Tj ET Q q 0 0 0 rg BT 187.07 169.45 Td (yen ) Tj ET Q q 0 0 0 rg BT 204.01 169.45 Td (in ) Tj ET Q q 0 0 0 rg BT 214.29 169.45 Td (relation ) Tj ET Q q 0 0 0 rg BT 247.33 169.45 Td (to ) Tj ET Q q 0 0 0 rg BT 257.61 169.45 Td (the ) Tj ET Q q 0 0 0 rg BT 272.32 169.45 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 292.61 169.45 Td (dollar) Tj ET Q q 0 0 0 rg BT 315.38 169.45 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 151.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 151.45 Td (The ) Tj ET Q q 0 0 0 rg BT 75.97 151.45 Td (net ) Tj ET Q q 0 0 0 rg BT 91.76 151.45 Td (gain ) Tj ET Q q 0 0 0 rg BT 112.55 151.45 Td (related ) Tj ET Q q 0 0 0 rg BT 143.32 151.45 Td (to ) Tj ET Q q 0 0 0 rg BT 154.67 151.45 Td (the ) Tj ET Q q 0 0 0 rg BT 170.46 151.45 Td (combined ) Tj ET Q q 0 0 0 rg BT 213.46 151.45 Td (GMWB ) Tj ET Q q 0 0 0 rg BT 249.26 151.45 Td (hedging ) Tj ET Q q 0 0 0 rg BT 285.05 151.45 Td (program, ) Tj ET Q q 0 0 0 rg BT 324.99 151.45 Td (which ) Tj ET Q q 0 0 0 rg BT 353.00 151.45 Td (includes ) Tj ET Q q 0 0 0 rg BT 389.90 151.45 Td (the ) Tj ET Q q 0 0 0 rg BT 405.69 151.45 Td (GMWB ) Tj ET Q q 0 0 0 rg BT 441.48 151.45 Td (product, ) Tj ET Q q 0 0 0 rg BT 478.10 151.45 Td (reinsurance, ) Tj ET Q q 0 0 0 rg BT 530.26 151.45 Td (and ) Tj ET Q q 0 0 0 rg BT 548.27 151.45 Td (hedging ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 139.45 Td (derivatives, ) Tj ET Q q 0 0 0 rg BT 105.47 139.45 Td (was ) Tj ET Q q 0 0 0 rg BT 123.26 139.45 Td (primarily ) Tj ET Q q 0 0 0 rg BT 162.72 139.45 Td (driven ) Tj ET Q q 0 0 0 rg BT 190.51 139.45 Td (by ) Tj ET Q q 0 0 0 rg BT 202.76 139.45 Td (revaluing ) Tj ET Q q 0 0 0 rg BT 242.77 139.45 Td (the ) Tj ET Q q 0 0 0 rg BT 257.23 139.45 Td (liability ) Tj ET Q q 0 0 0 rg BT 290.58 139.45 Td (for ) Tj ET Q q 0 0 0 rg BT 304.49 139.45 Td (living ) Tj ET Q q 0 0 0 rg BT 330.07 139.45 Td (benefits ) Tj ET Q q 0 0 0 rg BT 363.97 139.45 Td (resulting ) Tj ET Q q 0 0 0 rg BT 401.21 139.45 Td (from ) Tj ET Q q 0 0 0 rg BT 422.89 139.45 Td (favorable ) Tj ET Q q 0 0 0 rg BT 462.89 139.45 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 515.68 139.45 Td (behavior ) Tj ET Q q 0 0 0 rg BT 552.91 139.45 Td (lar) Tj ET Q q 0 0 0 rg BT 563.27 139.45 Td (gely ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 127.45 Td (related ) Tj ET Q q 0 0 0 rg BT 86.55 127.45 Td (to ) Tj ET Q q 0 0 0 rg BT 96.83 127.45 Td (increased ) Tj ET Q q 0 0 0 rg BT 137.08 127.45 Td (full ) Tj ET Q q 0 0 0 rg BT 153.47 127.45 Td (surrenders ) Tj ET Q q 0 0 0 rg BT 197.62 127.45 Td (and ) Tj ET Q q 0 0 0 rg BT 214.56 127.45 Td (liability ) Tj ET Q q 0 0 0 rg BT 248.17 127.45 Td (assumption ) Tj ET Q q 0 0 0 rg BT 296.23 127.45 Td (updates ) Tj ET Q q 0 0 0 rg BT 329.27 127.45 Td (for ) Tj ET Q q 0 0 0 rg BT 343.43 127.45 Td (partial ) Tj ET Q q 0 0 0 rg BT 371.47 127.45 Td (lapses ) Tj ET Q q 0 0 0 rg BT 398.41 127.45 Td (and ) Tj ET Q q 0 0 0 rg BT 415.35 127.45 Td (withdrawal ) Tj ET Q q 0 0 0 rg BT 462.84 127.45 Td (rates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 109.45 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 109.45 Td (The ) Tj ET Q q 0 0 0 rg BT 75.58 109.45 Td (net ) Tj ET Q q 0 0 0 rg BT 90.98 109.45 Td (loss ) Tj ET Q q 0 0 0 rg BT 109.72 109.45 Td (on ) Tj ET Q q 0 0 0 rg BT 122.91 109.45 Td (the ) Tj ET Q q 0 0 0 rg BT 138.31 109.45 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 159.27 109.45 Td (macro ) Tj ET Q q 0 0 0 rg BT 187.44 109.45 Td (hedge ) Tj ET Q q 0 0 0 rg BT 214.50 109.45 Td (program ) Tj ET Q q 0 0 0 rg BT 251.56 109.45 Td (was ) Tj ET Q q 0 0 0 rg BT 270.29 109.45 Td (primarily ) Tj ET Q q 0 0 0 rg BT 310.69 109.45 Td (due ) Tj ET Q q 0 0 0 rg BT 328.31 109.45 Td (to ) Tj ET Q q 0 0 0 rg BT 339.27 109.45 Td (an ) Tj ET Q q 0 0 0 rg BT 351.89 109.45 Td (improvement ) Tj ET Q q 0 0 0 rg BT 408.39 109.45 Td (in ) Tj ET Q q 0 0 0 rg BT 419.35 109.45 Td (domestic ) Tj ET Q q 0 0 0 rg BT 458.64 109.45 Td (equity ) Tj ET Q q 0 0 0 rg BT 486.82 109.45 Td (markets, ) Tj ET Q q 0 0 0 rg BT 524.16 109.45 Td (an ) Tj ET Q q 0 0 0 rg BT 536.78 109.45 Td (increase ) Tj ET Q q 0 0 0 rg BT 572.71 109.45 Td (in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 97.45 Td (interest ) Tj ET Q q 0 0 0 rg BT 88.78 97.45 Td (rates ) Tj ET Q q 0 0 0 rg BT 110.16 97.45 Td (and ) Tj ET Q q 0 0 0 rg BT 127.10 97.45 Td (a ) Tj ET Q q 0 0 0 rg BT 134.04 97.45 Td (decline ) Tj ET Q q 0 0 0 rg BT 165.41 97.45 Td (in ) Tj ET Q q 0 0 0 rg BT 175.69 97.45 Td (equity ) Tj ET Q q 0 0 0 rg BT 203.18 97.45 Td (volatility) Tj ET Q q 0 0 0 rg BT 238.64 97.45 Td (. ) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 397 0 obj <> endobj 398 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (For ) Tj ET Q q 0 0 0 rg BT 48.91 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.65 713.10 Td (year ) Tj ET Q q 0 0 0 rg BT 85.37 713.10 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.77 713.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 172.37 713.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.37 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 195.89 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 211.63 713.10 Td (net ) Tj ET Q q 0 0 0 rg BT 227.37 713.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 262.53 713.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 292.70 713.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 313.43 713.10 Td (\(loss\)related ) Tj ET Q q 0 0 0 rg BT 368.88 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 380.17 713.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 427.57 713.10 Td (used ) Tj ET Q q 0 0 0 rg BT 449.42 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 460.71 713.10 Td (non-qualifying ) Tj ET Q q 0 0 0 rg BT 523.67 713.10 Td (strategies ) Tj ET Q q 0 0 0 rg BT 564.95 713.10 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 71.21 701.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 115.37 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 126.20 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.91 701.10 Td (following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 683.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 683.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.46 683.10 Td (net ) Tj ET Q q 0 0 0 rg BT 88.73 683.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 106.36 683.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 149.51 683.10 Td (with ) Tj ET Q q 0 0 0 rg BT 169.35 683.10 Td (the ) Tj ET Q q 0 0 0 rg BT 183.63 683.10 Td (international ) Tj ET Q q 0 0 0 rg BT 236.22 683.10 Td (program ) Tj ET Q q 0 0 0 rg BT 272.16 683.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 306.44 683.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 355.17 683.10 Td (was ) Tj ET Q q 0 0 0 rg BT 372.78 683.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 412.05 683.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 439.66 683.10 Td (by ) Tj ET Q q 0 0 0 rg BT 451.72 683.10 Td (an ) Tj ET Q q 0 0 0 rg BT 463.22 683.10 Td (improvement ) Tj ET Q q 0 0 0 rg BT 518.60 683.10 Td (in ) Tj ET Q q 0 0 0 rg BT 528.44 683.10 Td (global ) Tj ET Q q 0 0 0 rg BT 555.49 683.10 Td (equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 671.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 91.01 671.10 Td (and ) Tj ET Q q 0 0 0 rg BT 107.94 671.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 159.86 671.10 Td (of ) Tj ET Q q 0 0 0 rg BT 170.69 671.10 Td (the ) Tj ET Q q 0 0 0 rg BT 185.41 671.10 Td (Japanese ) Tj ET Q q 0 0 0 rg BT 223.45 671.10 Td (yen ) Tj ET Q q 0 0 0 rg BT 240.39 671.10 Td (in ) Tj ET Q q 0 0 0 rg BT 250.66 671.10 Td (relation ) Tj ET Q q 0 0 0 rg BT 283.71 671.10 Td (to ) Tj ET Q q 0 0 0 rg BT 293.98 671.10 Td (the ) Tj ET Q q 0 0 0 rg BT 308.70 671.10 Td (euro ) Tj ET Q q 0 0 0 rg BT 328.97 671.10 Td (and ) Tj ET Q q 0 0 0 rg BT 345.91 671.10 Td (the ) Tj ET Q q 0 0 0 rg BT 360.62 671.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 380.91 671.10 Td (dollar) Tj ET Q q 0 0 0 rg BT 403.68 671.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 653.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 653.10 Td (The ) Tj ET Q q 0 0 0 rg BT 75.97 653.10 Td (net ) Tj ET Q q 0 0 0 rg BT 91.76 653.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 112.55 653.10 Td (related ) Tj ET Q q 0 0 0 rg BT 143.32 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 154.67 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 170.46 653.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 213.46 653.10 Td (GMWB ) Tj ET Q q 0 0 0 rg BT 249.26 653.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 285.05 653.10 Td (program, ) Tj ET Q q 0 0 0 rg BT 324.99 653.10 Td (which ) Tj ET Q q 0 0 0 rg BT 353.00 653.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 389.90 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 405.69 653.10 Td (GMWB ) Tj ET Q q 0 0 0 rg BT 441.48 653.10 Td (product, ) Tj ET Q q 0 0 0 rg BT 478.10 653.10 Td (reinsurance, ) Tj ET Q q 0 0 0 rg BT 530.26 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 548.27 653.10 Td (hedging ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 641.10 Td (derivatives, ) Tj ET Q q 0 0 0 rg BT 106.33 641.10 Td (was ) Tj ET Q q 0 0 0 rg BT 124.98 641.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 165.30 641.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 193.95 641.10 Td (by ) Tj ET Q q 0 0 0 rg BT 207.06 641.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 241.27 641.10 Td (model ) Tj ET Q q 0 0 0 rg BT 269.37 641.10 Td (assumption ) Tj ET Q q 0 0 0 rg BT 318.04 641.10 Td (updates ) Tj ET Q q 0 0 0 rg BT 351.69 641.10 Td (lar) Tj ET Q q 0 0 0 rg BT 362.06 641.10 Td (gely ) Tj ET Q q 0 0 0 rg BT 382.38 641.10 Td (related ) Tj ET Q q 0 0 0 rg BT 412.68 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 423.57 641.10 Td (a ) Tj ET Q q 0 0 0 rg BT 431.11 641.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 471.98 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 482.87 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 498.19 641.10 Td (reset ) Tj ET Q q 0 0 0 rg BT 520.17 641.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 572.72 641.10 Td (to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 629.10 Td (better ) Tj ET Q q 0 0 0 rg BT 81.94 629.10 Td (align ) Tj ET Q q 0 0 0 rg BT 104.26 629.10 Td (with ) Tj ET Q q 0 0 0 rg BT 124.36 629.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 150.56 629.10 Td (experience, ) Tj ET Q q 0 0 0 rg BT 198.68 629.10 Td (outperformance ) Tj ET Q q 0 0 0 rg BT 264.31 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.96 629.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 320.61 629.10 Td (actively ) Tj ET Q q 0 0 0 rg BT 354.58 629.10 Td (managed ) Tj ET Q q 0 0 0 rg BT 393.00 629.10 Td (funds ) Tj ET Q q 0 0 0 rg BT 417.55 629.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 459.30 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 469.40 629.10 Td (their ) Tj ET Q q 0 0 0 rg BT 490.05 629.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 532.90 629.10 Td (indices, ) Tj ET Q q 0 0 0 rg BT 566.05 629.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 617.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 82.12 617.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 109.61 617.10 Td (volatility) Tj ET Q q 0 0 0 rg BT 145.07 617.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 599.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 599.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.44 599.10 Td (net ) Tj ET Q q 0 0 0 rg BT 88.70 599.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 106.30 599.10 Td (on ) Tj ET Q q 0 0 0 rg BT 118.34 599.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.60 599.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 152.42 599.10 Td (macro ) Tj ET Q q 0 0 0 rg BT 179.45 599.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 205.37 599.10 Td (program ) Tj ET Q q 0 0 0 rg BT 241.28 599.10 Td (was ) Tj ET Q q 0 0 0 rg BT 258.88 599.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 298.13 599.10 Td (due ) Tj ET Q q 0 0 0 rg BT 314.61 599.10 Td (to ) Tj ET Q q 0 0 0 rg BT 324.43 599.10 Td (the ) Tj ET Q q 0 0 0 rg BT 338.69 599.10 Td (passage ) Tj ET Q q 0 0 0 rg BT 371.83 599.10 Td (of ) Tj ET Q q 0 0 0 rg BT 382.20 599.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 404.51 599.10 Td (an ) Tj ET Q q 0 0 0 rg BT 415.99 599.10 Td (improvement ) Tj ET Q q 0 0 0 rg BT 471.35 599.10 Td (in ) Tj ET Q q 0 0 0 rg BT 481.17 599.10 Td (domestic ) Tj ET Q q 0 0 0 rg BT 519.32 599.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 546.35 599.10 Td (markets, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 587.10 Td (and ) Tj ET Q q 0 0 0 rg BT 73.79 587.10 Td (a ) Tj ET Q q 0 0 0 rg BT 80.73 587.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 117.64 587.10 Td (in ) Tj ET Q q 0 0 0 rg BT 127.92 587.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 155.41 587.10 Td (volatility) Tj ET Q q 0 0 0 rg BT 190.87 587.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 569.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 569.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.69 569.10 Td (net ) Tj ET Q q 0 0 0 rg BT 89.20 569.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 107.06 569.10 Td (related ) Tj ET Q q 0 0 0 rg BT 136.55 569.10 Td (to ) Tj ET Q q 0 0 0 rg BT 146.63 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 161.14 569.10 Td (Japan ) Tj ET Q q 0 0 0 rg BT 186.20 569.10 Td (3W) Tj ET Q q 0 0 0 rg BT 200.24 569.10 Td (in ) Tj ET Q q 0 0 0 rg BT 210.31 569.10 Td (foreign ) Tj ET Q q 0 0 0 rg BT 241.48 569.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 278.75 569.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 305.49 569.10 Td (and ) Tj ET Q q 0 0 0 rg BT 322.22 569.10 Td (Japanese ) Tj ET Q q 0 0 0 rg BT 360.05 569.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 382.89 569.10 Td (annuity ) Tj ET Q q 0 0 0 rg BT 415.18 569.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 449.69 569.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 498.65 569.10 Td (was ) Tj ET Q q 0 0 0 rg BT 516.50 569.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 556.00 569.10 Td (due ) Tj ET Q q 0 0 0 rg BT 572.73 569.10 Td (to ) Tj ET Q q 0 0 0 rg BT 583.01 569.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 71.71 557.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 123.78 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 134.76 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 149.62 557.10 Td (Japanese ) Tj ET Q q 0 0 0 rg BT 187.81 557.10 Td (yen ) Tj ET Q q 0 0 0 rg BT 204.90 557.10 Td (in ) Tj ET Q q 0 0 0 rg BT 215.32 557.10 Td (relation ) Tj ET Q q 0 0 0 rg BT 248.51 557.10 Td (to ) Tj ET Q q 0 0 0 rg BT 258.94 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.80 557.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 294.23 557.10 Td (dollar) Tj ET Q q 0 0 0 rg BT 317.16 557.10 Td (, ) Tj ET Q q 0 0 0 rg BT 322.31 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 337.17 557.10 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 394.25 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 405.23 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 420.10 557.10 Td (currency ) Tj ET Q q 0 0 0 rg BT 457.72 557.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 480.37 557.10 Td (swap ) Tj ET Q q 0 0 0 rg BT 503.57 557.10 Td (spread ) Tj ET Q q 0 0 0 rg BT 532.31 557.10 Td (between ) Tj ET Q q 0 0 0 rg BT 568.28 557.10 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 545.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 77.13 545.10 Td (dollar ) Tj ET Q q 0 0 0 rg BT 102.96 545.10 Td (and ) Tj ET Q q 0 0 0 rg BT 119.90 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 134.61 545.10 Td (Japanese ) Tj ET Q q 0 0 0 rg BT 172.65 545.10 Td (yen, ) Tj ET Q q 0 0 0 rg BT 192.09 545.10 Td (and ) Tj ET Q q 0 0 0 rg BT 209.03 545.10 Td (a ) Tj ET Q q 0 0 0 rg BT 215.97 545.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 247.34 545.10 Td (in ) Tj ET Q q 0 0 0 rg BT 257.62 545.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 277.90 545.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 309.83 545.10 Td (rates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 527.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 527.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.90 527.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 94.61 527.10 Td (on ) Tj ET Q q 0 0 0 rg BT 107.11 527.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 132.38 527.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 178.75 527.10 Td (that ) Tj ET Q q 0 0 0 rg BT 196.24 527.10 Td (assume ) Tj ET Q q 0 0 0 rg BT 228.18 527.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 253.45 527.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 270.95 527.10 Td (as ) Tj ET Q q 0 0 0 rg BT 281.78 527.10 Td (a ) Tj ET Q q 0 0 0 rg BT 288.72 527.10 Td (part ) Tj ET Q q 0 0 0 rg BT 306.76 527.10 Td (of ) Tj ET Q q 0 0 0 rg BT 317.59 527.10 Td (replication ) Tj ET Q q 0 0 0 rg BT 362.85 527.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 413.11 527.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 447.27 527.10 Td (from ) Tj ET Q q 0 0 0 rg BT 469.21 527.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 494.47 527.10 Td (spread ) Tj ET Q q 0 0 0 rg BT 523.07 527.10 Td (tightening.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (For ) Tj ET Q q 0 0 0 rg BT 48.93 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.69 509.10 Td (year ) Tj ET Q q 0 0 0 rg BT 85.44 509.10 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.85 509.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 172.48 509.10 Td (201) Tj ET Q q 0 0 0 rg BT 187.11 509.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.11 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 195.65 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 211.40 509.10 Td (net ) Tj ET Q q 0 0 0 rg BT 227.16 509.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 262.34 509.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 292.53 509.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 313.29 509.10 Td (\(loss\)related ) Tj ET Q q 0 0 0 rg BT 368.75 509.10 Td (to ) Tj ET Q q 0 0 0 rg BT 380.07 509.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 427.48 509.10 Td (used ) Tj ET Q q 0 0 0 rg BT 449.35 509.10 Td (in ) Tj ET Q q 0 0 0 rg BT 460.67 509.10 Td (non-qualifying ) Tj ET Q q 0 0 0 rg BT 523.64 509.10 Td (strategies ) Tj ET Q q 0 0 0 rg BT 564.95 509.10 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 71.21 497.10 Td (due ) Tj ET Q q 0 0 0 rg BT 88.15 497.10 Td (to ) Tj ET Q q 0 0 0 rg BT 98.43 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.15 497.10 Td (following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 479.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 479.10 Td (The ) Tj ET Q q 0 0 0 rg BT 75.07 479.10 Td (net ) Tj ET Q q 0 0 0 rg BT 89.96 479.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 109.85 479.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 153.62 479.10 Td (with ) Tj ET Q q 0 0 0 rg BT 174.07 479.10 Td (the ) Tj ET Q q 0 0 0 rg BT 188.96 479.10 Td (international ) Tj ET Q q 0 0 0 rg BT 242.17 479.10 Td (program ) Tj ET Q q 0 0 0 rg BT 278.72 479.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 313.61 479.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 362.95 479.10 Td (was ) Tj ET Q q 0 0 0 rg BT 381.17 479.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 421.06 479.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 449.28 479.10 Td (by ) Tj ET Q q 0 0 0 rg BT 461.95 479.10 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 519.06 479.10 Td (of ) Tj ET Q q 0 0 0 rg BT 530.06 479.10 Td (the ) Tj ET Q q 0 0 0 rg BT 544.95 479.10 Td (Japanese ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 467.10 Td (yen, ) Tj ET Q q 0 0 0 rg BT 76.29 467.10 Td (a ) Tj ET Q q 0 0 0 rg BT 83.23 467.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 114.60 467.10 Td (in ) Tj ET Q q 0 0 0 rg BT 124.88 467.10 Td (global ) Tj ET Q q 0 0 0 rg BT 152.37 467.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 179.87 467.10 Td (markets, ) Tj ET Q q 0 0 0 rg BT 216.52 467.10 Td (and ) Tj ET Q q 0 0 0 rg BT 233.46 467.10 Td (a ) Tj ET Q q 0 0 0 rg BT 240.40 467.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 277.31 467.10 Td (in ) Tj ET Q q 0 0 0 rg BT 287.59 467.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 319.53 467.10 Td (rates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 449.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 449.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.06 449.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 91.28 449.10 Td (related ) Tj ET Q q 0 0 0 rg BT 120.14 449.10 Td (to ) Tj ET Q q 0 0 0 rg BT 129.58 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.46 449.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 184.55 449.10 Td (GMWB ) Tj ET Q q 0 0 0 rg BT 218.43 449.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 252.31 449.10 Td (program, ) Tj ET Q q 0 0 0 rg BT 290.35 449.10 Td (which ) Tj ET Q q 0 0 0 rg BT 316.44 449.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 351.43 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 365.31 449.10 Td (GMWB ) Tj ET Q q 0 0 0 rg BT 399.19 449.10 Td (product, ) Tj ET Q q 0 0 0 rg BT 433.90 449.10 Td (reinsurance, ) Tj ET Q q 0 0 0 rg BT 484.14 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 500.24 449.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 534.12 449.10 Td (derivatives, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 437.10 Td (was ) Tj ET Q q 0 0 0 rg BT 74.90 437.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 114.61 437.10 Td (a ) Tj ET Q q 0 0 0 rg BT 121.55 437.10 Td (result ) Tj ET Q q 0 0 0 rg BT 146.27 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 157.10 437.10 Td (a ) Tj ET Q q 0 0 0 rg BT 164.04 437.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 200.95 437.10 Td (in ) Tj ET Q q 0 0 0 rg BT 211.23 437.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 253.16 437.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 285.10 437.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 306.47 437.10 Td (and ) Tj ET Q q 0 0 0 rg BT 323.41 437.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 351.46 437.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 383.39 437.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 400.88 437.10 Td (volatility) Tj ET Q q 0 0 0 rg BT 436.34 437.10 Td (. ) Tj ET Q q 0 0 0 rg BT 441.34 437.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 419.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 419.10 Td (The ) Tj ET Q q 0 0 0 rg BT 75.02 419.10 Td (net ) Tj ET Q q 0 0 0 rg BT 89.86 419.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 108.05 419.10 Td (on ) Tj ET Q q 0 0 0 rg BT 120.67 419.10 Td (the ) Tj ET Q q 0 0 0 rg BT 135.51 419.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 155.92 419.10 Td (macro ) Tj ET Q q 0 0 0 rg BT 183.53 419.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 210.03 419.10 Td (program ) Tj ET Q q 0 0 0 rg BT 246.53 419.10 Td (was ) Tj ET Q q 0 0 0 rg BT 264.70 419.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 304.54 419.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 332.71 419.10 Td (by ) Tj ET Q q 0 0 0 rg BT 345.33 419.10 Td (time ) Tj ET Q q 0 0 0 rg BT 365.73 419.10 Td (decay ) Tj ET Q q 0 0 0 rg BT 391.67 419.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.73 419.10 Td (a ) Tj ET Q q 0 0 0 rg BT 415.79 419.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 452.83 419.10 Td (in ) Tj ET Q q 0 0 0 rg BT 463.23 419.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 490.85 419.10 Td (market ) Tj ET Q q 0 0 0 rg BT 521.24 419.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 559.97 419.10 Td (since ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 71.57 407.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 109.60 407.10 Td (date ) Tj ET Q q 0 0 0 rg BT 128.76 407.10 Td (of ) Tj ET Q q 0 0 0 rg BT 139.59 407.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 169.29 407.10 Td (options ) Tj ET Q q 0 0 0 rg BT 201.24 407.10 Td (during ) Tj ET Q q 0 0 0 rg BT 229.85 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 244.56 407.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 271.50 407.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 299.27 407.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.85 389.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.85 389.10 Td (The ) Tj ET Q q 0 0 0 rg BT 74.90 389.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 92.96 389.10 Td (on ) Tj ET Q q 0 0 0 rg BT 105.46 389.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 130.72 389.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 177.09 389.10 Td (that ) Tj ET Q q 0 0 0 rg BT 194.59 389.10 Td (assume ) Tj ET Q q 0 0 0 rg BT 226.53 389.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 251.79 389.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 269.29 389.10 Td (as ) Tj ET Q q 0 0 0 rg BT 280.12 389.10 Td (a ) Tj ET Q q 0 0 0 rg BT 287.06 389.10 Td (part ) Tj ET Q q 0 0 0 rg BT 305.11 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 315.94 389.10 Td (replication ) Tj ET Q q 0 0 0 rg BT 361.20 389.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 411.46 389.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 445.61 389.10 Td (from ) Tj ET Q q 0 0 0 rg BT 467.55 389.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 492.82 389.10 Td (spread ) Tj ET Q q 0 0 0 rg BT 521.42 389.10 Td (widening.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.10 Td (Refer ) Tj ET Q q 0 0 0 rg BT 56.21 371.10 Td (to ) Tj ET Q q 0 0 0 rg BT 66.49 371.10 Td (Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 88.42 371.10 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 98.42 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 100.92 371.10 Td (for ) Tj ET Q q 0 0 0 rg BT 115.08 371.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 157.57 371.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 204.51 371.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 245.33 371.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 290.04 371.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 315.30 371.10 Td (related ) Tj ET Q q 0 0 0 rg BT 345.01 371.10 Td (features ) Tj ET Q q 0 0 0 rg BT 379.15 371.10 Td (in ) Tj ET Q q 0 0 0 rg BT 389.43 371.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 431.91 371.10 Td (agreements.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 42.98 353.10 Td (edit ) Tj ET Q q 0 0 0 rg BT 61.59 353.10 Td (Risk ) Tj ET Q q 0 0 0 rg BT 82.99 353.10 Td (Assumed ) Tj ET Q q 0 0 0 rg BT 124.39 353.10 Td (thr) Tj ET Q q 0 0 0 rg BT 137.54 353.10 Td (ough ) Tj ET Q q 0 0 0 rg BT 161.16 353.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 172.64 353.10 Td (edit ) Tj ET Q q 0 0 0 rg BT 191.25 353.10 Td (Derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.10 Td (The ) Tj ET Q q 0 0 0 rg BT 48.63 335.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 89.11 335.10 Td (enters ) Tj ET Q q 0 0 0 rg BT 114.57 335.10 Td (into ) Tj ET Q q 0 0 0 rg BT 131.71 335.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 156.07 335.10 Td (default ) Tj ET Q q 0 0 0 rg BT 185.42 335.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 211.45 335.10 Td (that ) Tj ET Q q 0 0 0 rg BT 228.03 335.10 Td (assume ) Tj ET Q q 0 0 0 rg BT 259.05 335.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 283.40 335.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 299.99 335.10 Td (of ) Tj ET Q q 0 0 0 rg BT 309.91 335.10 Td (a ) Tj ET Q q 0 0 0 rg BT 315.93 335.10 Td (single ) Tj ET Q q 0 0 0 rg BT 341.41 335.10 Td (entity) Tj ET Q q 0 0 0 rg BT 363.53 335.10 Td (, ) Tj ET Q q 0 0 0 rg BT 367.62 335.10 Td (referenced ) Tj ET Q q 0 0 0 rg BT 411.39 335.10 Td (index, ) Tj ET Q q 0 0 0 rg BT 437.69 335.10 Td (or ) Tj ET Q q 0 0 0 rg BT 447.61 335.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 468.63 335.10 Td (pool ) Tj ET Q q 0 0 0 rg BT 488.00 335.10 Td (in ) Tj ET Q q 0 0 0 rg BT 497.36 335.10 Td (order ) Tj ET Q q 0 0 0 rg BT 520.05 335.10 Td (to ) Tj ET Q q 0 0 0 rg BT 529.42 335.10 Td (synthetically ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.10 Td (replicate ) Tj ET Q q 0 0 0 rg BT 68.00 323.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 113.97 323.10 Td (transactions. ) Tj ET Q q 0 0 0 rg BT 166.17 323.10 Td (The ) Tj ET Q q 0 0 0 rg BT 183.80 323.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 224.77 323.10 Td (will ) Tj ET Q q 0 0 0 rg BT 242.41 323.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 273.36 323.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 308.21 323.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 348.62 323.10 Td (based ) Tj ET Q q 0 0 0 rg BT 373.47 323.10 Td (on ) Tj ET Q q 0 0 0 rg BT 385.56 323.10 Td (an ) Tj ET Q q 0 0 0 rg BT 397.08 323.10 Td (agreed ) Tj ET Q q 0 0 0 rg BT 425.81 323.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 447.90 323.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 464.97 323.10 Td (and ) Tj ET Q q 0 0 0 rg BT 481.49 323.10 Td (notional ) Tj ET Q q 0 0 0 rg BT 516.35 323.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 548.43 323.10 Td (and ) Tj ET Q q 0 0 0 rg BT 564.95 323.10 Td (will ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.10 Td (only ) Tj ET Q q 0 0 0 rg BT 51.48 311.10 Td (make ) Tj ET Q q 0 0 0 rg BT 75.33 311.10 Td (a ) Tj ET Q q 0 0 0 rg BT 81.97 311.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 118.60 311.10 Td (if ) Tj ET Q q 0 0 0 rg BT 126.91 311.10 Td (there ) Tj ET Q q 0 0 0 rg BT 149.10 311.10 Td (is ) Tj ET Q q 0 0 0 rg BT 157.97 311.10 Td (a ) Tj ET Q q 0 0 0 rg BT 164.61 311.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 189.57 311.10 Td (event. ) Tj ET Q q 0 0 0 rg BT 215.44 311.10 Td (A) Tj ET Q q 0 0 0 rg BT 222.11 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 224.31 311.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 249.27 311.10 Td (event ) Tj ET Q q 0 0 0 rg BT 273.13 311.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 309.76 311.10 Td (will ) Tj ET Q q 0 0 0 rg BT 327.52 311.10 Td (typically ) Tj ET Q q 0 0 0 rg BT 364.71 311.10 Td (be ) Tj ET Q q 0 0 0 rg BT 376.34 311.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 400.20 311.10 Td (to ) Tj ET Q q 0 0 0 rg BT 410.18 311.10 Td (the ) Tj ET Q q 0 0 0 rg BT 424.59 311.10 Td (notional ) Tj ET Q q 0 0 0 rg BT 459.57 311.10 Td (value ) Tj ET Q q 0 0 0 rg BT 483.42 311.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.95 311.10 Td (the ) Tj ET Q q 0 0 0 rg BT 508.37 311.10 Td (swap ) Tj ET Q q 0 0 0 rg BT 531.12 311.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 565.52 311.10 Td (less ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 46.36 299.10 Td (value ) Tj ET Q q 0 0 0 rg BT 70.65 299.10 Td (of ) Tj ET Q q 0 0 0 rg BT 81.62 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 96.48 299.10 Td (referenced ) Tj ET Q q 0 0 0 rg BT 141.30 299.10 Td (security ) Tj ET Q q 0 0 0 rg BT 175.59 299.10 Td (issuer) Tj ET Q q 0 0 0 rg BT 199.29 299.10 Td () Tj ET Q q 0 0 0 rg BT 202.07 299.10 Td (s ) Tj ET Q q 0 0 0 rg BT 208.60 299.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 228.46 299.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 271.65 299.10 Td (after ) Tj ET Q q 0 0 0 rg BT 292.60 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 307.46 299.10 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 353.95 299.10 Td (of ) Tj ET Q q 0 0 0 rg BT 364.92 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 379.78 299.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 405.18 299.10 Td (event. ) Tj ET Q q 0 0 0 rg BT 431.39 299.10 Td (A) Tj ET Q q 0 0 0 rg BT 438.06 299.10 Td ( ) Tj ET Q q 0 0 0 rg BT 440.70 299.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 466.10 299.10 Td (event ) Tj ET Q q 0 0 0 rg BT 490.40 299.10 Td (is ) Tj ET Q q 0 0 0 rg BT 499.71 299.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 539.55 299.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 572.17 299.10 Td (as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.10 Td (a ) Tj ET Q q 0 0 0 rg BT 38.06 287.10 Td (default ) Tj ET Q q 0 0 0 rg BT 67.95 287.10 Td (on ) Tj ET Q q 0 0 0 rg BT 80.08 287.10 Td (contractually ) Tj ET Q q 0 0 0 rg BT 134.40 287.10 Td (obligated ) Tj ET Q q 0 0 0 rg BT 173.74 287.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 205.30 287.10 Td (or ) Tj ET Q q 0 0 0 rg BT 215.75 287.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 253.42 287.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 293.87 287.10 Td (or ) Tj ET Q q 0 0 0 rg BT 304.33 287.10 Td (bankruptcy ) Tj ET Q q 0 0 0 rg BT 351.44 287.10 Td (of ) Tj ET Q q 0 0 0 rg BT 361.89 287.10 Td (the ) Tj ET Q q 0 0 0 rg BT 376.24 287.10 Td (referenced ) Tj ET Q q 0 0 0 rg BT 420.54 287.10 Td (entity) Tj ET Q q 0 0 0 rg BT 442.67 287.10 Td (. ) Tj ET Q q 0 0 0 rg BT 447.14 287.10 Td (The ) Tj ET Q q 0 0 0 rg BT 464.81 287.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 489.70 287.10 Td (default ) Tj ET Q q 0 0 0 rg BT 519.59 287.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 546.16 287.10 Td (in ) Tj ET Q q 0 0 0 rg BT 556.06 287.10 Td (which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (the ) Tj ET Q q 0 0 0 rg BT 46.59 275.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 88.36 275.10 Td (assumes ) Tj ET Q q 0 0 0 rg BT 124.56 275.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 150.20 275.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 168.08 275.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 208.17 275.10 Td (reference ) Tj ET Q q 0 0 0 rg BT 248.22 275.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 294.98 275.10 Td (grade ) Tj ET Q q 0 0 0 rg BT 320.06 275.10 Td (single ) Tj ET Q q 0 0 0 rg BT 346.83 275.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 387.46 275.10 Td (issuers ) Tj ET Q q 0 0 0 rg BT 417.55 275.10 Td (and ) Tj ET Q q 0 0 0 rg BT 434.87 275.10 Td (baskets, ) Tj ET Q q 0 0 0 rg BT 469.68 275.10 Td (which ) Tj ET Q q 0 0 0 rg BT 497.00 275.10 Td (include ) Tj ET Q q 0 0 0 rg BT 529.31 275.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 566.06 275.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.10 Td (customized ) Tj ET Q q 0 0 0 rg BT 81.69 263.10 Td (diversified ) Tj ET Q q 0 0 0 rg BT 129.11 263.10 Td (portfolios ) Tj ET Q q 0 0 0 rg BT 172.65 263.10 Td (of ) Tj ET Q q 0 0 0 rg BT 185.63 263.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 228.03 263.10 Td (issuers. ) Tj ET Q q 0 0 0 rg BT 262.07 263.10 Td (The ) Tj ET Q q 0 0 0 rg BT 282.26 263.10 Td (diversified ) Tj ET Q q 0 0 0 rg BT 329.68 263.10 Td (portfolios ) Tj ET Q q 0 0 0 rg BT 373.22 263.10 Td (of ) Tj ET Q q 0 0 0 rg BT 386.20 263.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 428.60 263.10 Td (issuers ) Tj ET Q q 0 0 0 rg BT 460.48 263.10 Td (are ) Tj ET Q q 0 0 0 rg BT 477.33 263.10 Td (established ) Tj ET Q q 0 0 0 rg BT 526.42 263.10 Td (within ) Tj ET Q q 0 0 0 rg BT 556.63 263.10 Td (sector ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.10 Td (concentration ) Tj ET Q q 0 0 0 rg BT 88.42 251.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 113.70 251.10 Td (and ) Tj ET Q q 0 0 0 rg BT 130.64 251.10 Td (may ) Tj ET Q q 0 0 0 rg BT 150.36 251.10 Td (be ) Tj ET Q q 0 0 0 rg BT 162.30 251.10 Td (divided ) Tj ET Q q 0 0 0 rg BT 194.79 251.10 Td (into ) Tj ET Q q 0 0 0 rg BT 212.85 251.10 Td (tranches ) Tj ET Q q 0 0 0 rg BT 248.66 251.10 Td (that ) Tj ET Q q 0 0 0 rg BT 266.16 251.10 Td (possess ) Tj ET Q q 0 0 0 rg BT 298.66 251.10 Td (dif) Tj ET Q q 0 0 0 rg BT 309.59 251.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 335.41 251.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 360.67 251.10 Td (ratings.) 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risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 466.27 Td (exposure) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.15 466.27 Td (195) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 466.27 Td (\(31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.15 466.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.20 466.27 Td (3 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.85 466.27 Td (CMBS Credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.00 466.27 Td (B-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 466.27 Td (195) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 466.27 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 451.27 Td (Embedded credit derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 436.27 Td (Investment grade risk exposure) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.15 436.27 Td (350) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.10 436.27 Td (339) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.20 436.27 Td (3 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.75 436.27 Td (Corporate Credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 436.27 Td (BBB+) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 436.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 436.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 422.28 Td (Total [5]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 189.50 422.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 214.65 422.28 Td (5,768) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 243.50 422.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 253.10 422.28 Td (374) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 404.50 422.28 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.50 422.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.65 422.28 Td (3,882) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.50 422.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 568.80 422.28 Td (\(7) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 422.28 Td (\)) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 326.60 155.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 326.60 54.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 241.00 326.60 31.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 326.60 56.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 326.60 80.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 326.60 57.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 326.60 56.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 326.60 60.00 -22.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 282.60 155.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 282.60 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 241.00 282.60 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 282.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 282.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 282.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 282.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 282.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 252.60 155.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 252.60 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 241.00 252.60 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 252.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 252.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 252.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 252.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 252.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 215.60 155.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 215.60 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 241.00 215.60 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 215.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 215.60 80.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 215.60 57.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 215.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 215.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 185.60 155.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 187.00 185.60 54.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 241.00 185.60 31.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 185.60 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 328.00 185.60 80.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 185.60 57.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 465.00 185.60 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 521.00 185.60 60.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 395.6 m 187 395.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187 395.6 m 241 395.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 241 395.6 m 272 395.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 395.6 m 328 395.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 395.6 m 408 395.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 395.6 m 465 395.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 395.6 m 521 395.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 395.6 m 581 395.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 375.6 m 408 375.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 375.6 m 465 375.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 338.6 m 187 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187 338.6 m 241 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 241 338.6 m 272 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 338.6 m 328 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 338.6 m 408 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 338.6 m 465 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 338.6 m 521 338.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 338.6 m 581 338.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 338.6 m 187 338.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 185.60000000000002 m 187 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 173.60000000000002 m 187 173.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 187 185.60000000000002 m 241 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 187 173.60000000000002 m 241 173.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 241 185.60000000000002 m 272 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 241 173.60000000000002 m 272 173.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272 185.60000000000002 m 328 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 173.60000000000002 m 328 173.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 328 185.60000000000002 m 408 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 328 173.60000000000002 m 408 173.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408 185.60000000000002 m 465 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 173.60000000000002 m 465 173.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 465 185.60000000000002 m 521 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 465 173.60000000000002 m 521 173.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 521 185.60000000000002 m 581 185.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 521 173.60000000000002 m 581 173.60000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 269.70 399.00 Td (December 31, 2012) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 380.06 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 189.50 380.06 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 243.50 380.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 344.80 387.00 Td (Unifying Refernced Credit) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 364.35 378.05 Td (Obligation\(s\) [1]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 517.50 386.86 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 550.50 380.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 352.05 Td (Credit Derivative type by derivative) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 343.05 Td (risk exposure) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 196.95 352.05 Td (Notional) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 191.35 343.05 Td (Amount [2]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 247.80 352.05 Td (Fair) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 245.15 343.05 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 281.20 367.00 Td (Weighted) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 283.80 358.00 Td (Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 283.85 349.00 Td (Years to) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 282.00 340.05 Td (Maturity) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 358.05 343.05 Td (Type) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 420.30 361.05 Td (Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 423.55 352.05 Td (Credit) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 422.95 343.05 Td (Rating) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.25 361.05 Td (Offsetting) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 475.95 352.05 Td (Notional) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 470.35 343.05 Td (Amount [3]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.25 352.05 Td (Offsetting) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 524.05 343.05 Td (Fair Value [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 329.22 Td (Single name credit default swaps) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 237.50 330.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 268.50 330.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 274.50 330.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.50 330.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 461.50 330.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 517.50 330.55 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 577.50 330.55 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 309.27 Td (Investment grade risk exposure) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.50 309.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.65 309.27 Td (2,321) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 243.50 309.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.15 309.27 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.20 309.27 Td (3 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.35 317.17 Td (CorporateCredit/) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.15 307.22 Td (Foreign Gov.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.65 309.27 Td (A) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.50 309.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 309.27 Td (1,367) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.50 309.27 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 309.27 Td (\(26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 309.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 295.17 Td (Below investment grade risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 285.22 Td (exposure) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.15 287.27 Td (145) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 259.80 287.27 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.15 287.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.10 287.27 Td (1 year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.75 287.27 Td (Corporate Credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.80 287.27 Td (B+) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 287.27 Td (145) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 287.27 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 287.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 272.27 Td (Basket credit default swaps [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 257.27 Td (Investment grade risk exposure) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.65 257.27 Td (3,978) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.15 257.27 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.20 257.27 Td (3 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.75 257.27 Td (Corporate Credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 257.27 Td (BBB+) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.65 257.27 Td (2,712) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 257.27 Td (\(13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 257.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 242.27 Td (Investment grade risk exposure) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.15 242.27 Td (330) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 242.27 Td (\(17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.15 242.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.20 242.27 Td (4 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.85 242.27 Td (CMBS Credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.65 242.27 Td (A) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 242.27 Td (330) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 242.27 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 228.17 Td (Below investment grade risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 218.22 Td (exposure) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.15 220.27 Td (195) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 220.27 Td (\(46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.15 220.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.20 220.27 Td (4 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.85 220.27 Td (CMBS Credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.80 220.27 Td (B+) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 220.27 Td (195) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 220.27 Td (46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 205.27 Td (Embedded credit derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 190.27 Td (Investment grade risk exposure) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.15 190.27 Td (525) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.10 190.27 Td (478) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.20 190.27 Td (4 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.75 190.27 Td (Corporate Credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.30 190.27 Td (BBB-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.15 190.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 190.27 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 176.33 Td (Total [5]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 189.50 176.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 214.65 176.33 Td (7,494) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 243.50 176.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 253.10 176.33 Td (428) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.50 176.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.65 176.33 Td (4,749) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 523.50 176.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 567.15 176.33 Td (21) Tj ET Q BT /F2 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 162.10 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 162.10 Td (The average cr) Tj ET Q q 0 0 0 rg BT 121.65 162.10 Td (edit ratings ar) Tj ET Q q 0 0 0 rg BT 172.82 162.10 Td (e based on availability and the midpoint of the applicable ratings among Moody) Tj ET Q q 0 0 0 rg BT 464.12 162.10 Td (s, S&P) Tj ET Q q 0 0 0 rg BT 487.96 162.10 Td (, and Fitch. If no rating ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 151.30 Td (is available fr) Tj ET Q q 0 0 0 rg BT 117.16 151.30 Td (om a rating agency) Tj ET Q q 0 0 0 rg BT 186.40 151.30 Td (, then an internally developed rating is used.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 140.50 Td ([2] ) Tj ET Q q 0 0 0 rg BT 67.50 140.50 Td (Notional amount is equal to the maximum potential futur) Tj ET Q q 0 0 0 rg BT 272.16 140.50 Td (e loss amount. These derivatives ar) Tj ET Q q 0 0 0 rg BT 401.06 140.50 Td (e governed by agr) Tj ET Q q 0 0 0 rg BT 465.95 140.50 Td (eements and clearing house ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 129.70 Td (rules and applicable law which include collateral posting r) Tj ET Q q 0 0 0 rg BT 280.65 129.70 Td (equir) Tj ET Q q 0 0 0 rg BT 299.31 129.70 Td (ements. Ther) Tj ET Q q 0 0 0 rg BT 347.72 129.70 Td (e is no additional specific collateral r) Tj ET Q q 0 0 0 rg BT 482.87 129.70 Td (elated to these contracts ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 118.90 Td (or r) Tj ET Q q 0 0 0 rg BT 80.92 118.90 Td (ecourse pr) Tj ET Q q 0 0 0 rg BT 118.83 118.90 Td (ovisions included in the contracts to offset losses. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 108.10 Td ([3] ) Tj ET Q q 0 0 0 rg BT 67.50 108.10 Td (The Company has enter) Tj ET Q q 0 0 0 rg BT 152.91 108.10 Td (ed into offsetting cr) Tj ET Q q 0 0 0 rg BT 222.82 108.10 Td (edit default swaps to terminate certain existing cr) Tj ET Q q 0 0 0 rg BT 401.21 108.10 Td (edit default swaps, ther) Tj ET Q q 0 0 0 rg BT 484.87 108.10 Td (eby offsetting the futur) Tj ET Q q 0 0 0 rg BT 565.77 108.10 Td (e ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 97.30 Td (changes in value of, or losses paid r) Tj ET Q q 0 0 0 rg BT 197.16 97.30 Td (elated to, the original swap.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 86.50 Td ([4] ) Tj ET Q q 0 0 0 rg BT 67.50 86.50 Td (Includes $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 104.74 86.50 Td (4.1 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 141.74 86.50 Td ( and $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 164.24 86.50 Td (4.5 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 201.24 86.50 Td ( as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 223.00 86.50 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 293.73 86.50 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 311.73 86.50 Td (2012) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 329.73 86.50 Td (, r) Tj ET Q q 0 0 0 rg BT 337.39 86.50 Td (espectively) Tj ET Q q 0 0 0 rg BT 376.37 86.50 Td (, of standar) Tj ET Q q 0 0 0 rg BT 417.29 86.50 Td (d market indices of diversified portfolios of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 75.70 Td (corporate issuers r) Tj ET Q q 0 0 0 rg BT 135.67 75.70 Td (efer) Tj ET Q q 0 0 0 rg BT 149.33 75.70 Td (enced thr) Tj ET Q q 0 0 0 rg BT 182.73 75.70 Td (ough cr) Tj ET Q q 0 0 0 rg BT 210.14 75.70 Td (edit default swaps. These swaps ar) Tj ET Q q 0 0 0 rg BT 334.81 75.70 Td (e subsequently valued based upon the observable standar) Tj ET Q q 0 0 0 rg BT 541.69 75.70 Td (d market ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 64.90 Td (index. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 54.10 Td ([5] ) Tj ET Q q 0 0 0 rg BT 67.50 54.10 Td (Excludes investments that contain an embedded cr) Tj ET Q q 0 0 0 rg BT 249.12 54.10 Td (edit derivative for which the Company has elected the fair value option. For further ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 43.30 Td (discussion, see the Fair V) Tj ET Q q 0 0 0 rg BT 159.24 43.30 Td (alue Option section in Note 5 - Fair V) Tj ET Q q 0 0 0 rg BT 295.22 43.30 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 340.13 43.30 Td (ements.) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 401 0 obj <> endobj 402 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-64) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 78.42 713.25 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 123.14 713.25 Td (Arrangements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 698.25 Td (The ) Tj ET Q q 0 0 0 rg BT 49.92 698.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 91.68 698.25 Td (enters ) Tj ET Q q 0 0 0 rg BT 118.44 698.25 Td (into ) Tj ET Q q 0 0 0 rg BT 136.87 698.25 Td (various ) Tj ET Q q 0 0 0 rg BT 169.18 698.25 Td (collateral ) Tj ET Q q 0 0 0 rg BT 209.25 698.25 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 265.99 698.25 Td (in ) Tj ET Q q 0 0 0 rg BT 276.64 698.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 323.39 698.25 Td (with ) Tj ET Q q 0 0 0 rg BT 344.04 698.25 Td (its ) Tj ET Q q 0 0 0 rg BT 356.37 698.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 399.22 698.25 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 451.26 698.25 Td (which ) Tj ET Q q 0 0 0 rg BT 478.58 698.25 Td (require ) Tj ET Q q 0 0 0 rg BT 509.77 698.25 Td (both ) Tj ET Q q 0 0 0 rg BT 530.42 698.25 Td (the ) Tj ET Q q 0 0 0 rg BT 545.51 698.25 Td (pledging ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 686.25 Td (and ) Tj ET Q q 0 0 0 rg BT 49.47 686.25 Td (accepting ) Tj ET Q q 0 0 0 rg BT 91.30 686.25 Td (of ) Tj ET Q q 0 0 0 rg BT 103.16 686.25 Td (collateral. ) Tj ET Q q 0 0 0 rg BT 145.61 686.25 Td (As ) Tj ET Q q 0 0 0 rg BT 160.25 686.25 Td (of ) Tj ET Q q 0 0 0 rg BT 172.11 686.25 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.72 686.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.72 686.25 Td ( ) Tj ET Q q 0 0 0 rg BT 255.25 686.25 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.21 686.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 293.21 686.25 Td (, ) Tj ET Q q 0 0 0 rg BT 299.24 686.25 Td (the ) Tj ET Q q 0 0 0 rg BT 314.99 686.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 357.40 686.25 Td (pledged ) Tj ET Q q 0 0 0 rg BT 392.58 686.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 433.88 686.25 Td (collateral ) Tj ET Q q 0 0 0 rg BT 474.60 686.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 519.22 686.25 Td (with ) Tj ET Q q 0 0 0 rg BT 540.53 686.25 Td (derivative ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 674.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 80.17 674.25 Td (with ) Tj ET Q q 0 0 0 rg BT 99.95 674.25 Td (a ) Tj ET Q q 0 0 0 rg BT 106.38 674.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 122.26 674.25 Td (value ) Tj ET Q q 0 0 0 rg BT 145.92 674.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.25 674.25 Td ($1.3 ) Tj ET Q q 0 0 0 rg BT 175.75 674.25 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.86 674.25 Td ( ) Tj ET Q q 0 0 0 rg BT 203.87 674.25 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.30 674.25 Td ($0.6 ) Tj ET Q q 0 0 0 rg BT 239.81 674.25 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 265.92 674.25 Td (, ) Tj ET Q q 0 0 0 rg BT 270.42 674.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 318.08 674.25 Td (, ) Tj ET Q q 0 0 0 rg BT 322.58 674.25 Td (which ) Tj ET Q q 0 0 0 rg BT 349.02 674.25 Td (have ) Tj ET Q q 0 0 0 rg BT 369.90 674.25 Td (been ) Tj ET Q q 0 0 0 rg BT 390.78 674.25 Td (included ) Tj ET Q q 0 0 0 rg BT 427.21 674.25 Td (in ) Tj ET Q q 0 0 0 rg BT 436.99 674.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 459.54 674.25 Td (maturities ) Tj ET Q q 0 0 0 rg BT 501.53 674.25 Td (on ) Tj ET Q q 0 0 0 rg BT 513.53 674.25 Td (the ) Tj ET Q q 0 0 0 rg BT 527.75 674.25 Td (Consolidated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 662.25 Td (Balance ) Tj ET Q q 0 0 0 rg BT 65.78 662.25 Td (Sheets. ) Tj ET Q q 0 0 0 rg BT 96.32 662.25 Td (The ) Tj ET Q q 0 0 0 rg BT 113.95 662.25 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 172.67 662.25 Td (have ) Tj ET Q q 0 0 0 rg BT 193.63 662.25 Td (the ) Tj ET Q q 0 0 0 rg BT 207.92 662.25 Td (right ) Tj ET Q q 0 0 0 rg BT 228.89 662.25 Td (to ) Tj ET Q q 0 0 0 rg BT 238.75 662.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 254.71 662.25 Td (or ) Tj ET Q q 0 0 0 rg BT 265.12 662.25 Td (re-pledge ) Tj ET Q q 0 0 0 rg BT 304.96 662.25 Td (these ) Tj ET Q q 0 0 0 rg BT 327.58 662.25 Td (securities. ) Tj ET Q q 0 0 0 rg BT 369.78 662.25 Td (The ) Tj ET Q q 0 0 0 rg BT 387.41 662.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 428.37 662.25 Td (also ) Tj ET Q q 0 0 0 rg BT 446.56 662.25 Td (pledged ) Tj ET Q q 0 0 0 rg BT 480.30 662.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 500.14 662.25 Td (collateral ) Tj ET Q q 0 0 0 rg BT 539.42 662.25 Td (associated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 650.25 Td (with ) Tj ET Q q 0 0 0 rg BT 51.55 650.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 93.79 650.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 142.73 650.25 Td (with ) Tj ET Q q 0 0 0 rg BT 162.77 650.25 Td (a ) Tj ET Q q 0 0 0 rg BT 169.48 650.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 185.62 650.25 Td (value ) Tj ET Q q 0 0 0 rg BT 209.54 650.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.14 650.25 Td ($347) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 240.14 650.25 Td ( ) Tj ET Q q 0 0 0 rg BT 242.41 650.25 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 259.11 650.25 Td ($208) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 279.11 650.25 Td (, ) Tj ET Q q 0 0 0 rg BT 283.88 650.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 331.54 650.25 Td (, ) Tj ET Q q 0 0 0 rg BT 336.31 650.25 Td (as ) Tj ET Q q 0 0 0 rg BT 346.90 650.25 Td (of ) Tj ET Q q 0 0 0 rg BT 357.50 650.25 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.85 650.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.85 650.25 Td ( ) Tj ET Q q 0 0 0 rg BT 438.12 650.25 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.83 650.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.83 650.25 Td ( ) Tj ET Q q 0 0 0 rg BT 477.09 650.25 Td (which ) Tj ET Q q 0 0 0 rg BT 503.80 650.25 Td (have ) Tj ET Q q 0 0 0 rg BT 524.94 650.25 Td (been ) Tj ET Q q 0 0 0 rg BT 546.09 650.25 Td (included ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 638.25 Td (in ) Tj ET Q q 0 0 0 rg BT 41.78 638.25 Td (short-term ) Tj ET Q q 0 0 0 rg BT 85.93 638.25 Td (investments ) Tj ET Q q 0 0 0 rg BT 136.21 638.25 Td (on ) Tj ET Q q 0 0 0 rg BT 148.71 638.25 Td (the ) Tj ET Q q 0 0 0 rg BT 163.42 638.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 218.70 638.25 Td (Balance ) Tj ET Q q 0 0 0 rg BT 253.40 638.25 Td (Sheets.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (As of December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 114.53 623.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 623.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.97 623.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.97 623.25 Td (, the Company accepted cash collateral associated with derivative instruments with a fair value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td ($180) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 611.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.94 611.25 Td ($701) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.94 611.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 143.60 611.25 Td (, which was invested and recorded in the Consolidated Balance Sheets in fixed maturities and short-term ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (investments with corresponding amounts recorded in other liabilities. ) Tj ET Q q 0 0 0 rg BT 310.98 599.25 Td (The Company also accepted securities collateral as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.08 587.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 587.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.52 587.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.52 587.25 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 162.85 587.25 Td ($243) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.85 587.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.29 587.25 Td ($653) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.29 587.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 274.95 587.25 Td (, of which the Company has the ability to sell or repledge ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.84 587.25 Td ($191) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.84 587.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.28 587.25 Td ($525) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.28 587.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 575.25 Td (. ) Tj ET Q q 0 0 0 rg BT 83.61 575.25 Td (As of December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 166.64 575.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.64 575.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 206.08 575.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.08 575.25 Td (, the fair value of repledged securities totaled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.05 575.25 Td ($39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.05 575.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.49 575.25 Td ($0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.49 575.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 506.15 575.25 Td (, and the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (Company did not sell any securities. In addition, as of December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.88 563.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.88 563.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.32 563.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.32 563.25 Td (, non-cash collateral accepted was held in separate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (custodial accounts and was not included in the Company) Tj ET Q q 0 0 0 rg BT 261.45 551.25 Td (s Consolidated Balance Sheets.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 535.05 Td (7) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 37.00 535.05 Td (. ) Tj ET Q q 0 0 0 rg BT 42.50 535.05 Td (Reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 518.05 Td (The Company cedes insurance to af) Tj ET Q q 0 0 0 rg BT 174.32 518.05 Td (filiated and unaf) Tj ET Q q 0 0 0 rg BT 239.67 518.05 Td (filiated insurers to enable the Company to manage capital and risk exposure. Such ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 506.05 Td (arrangements do not relieve the Company of its primary liability to policyholders. Failure of reinsurers to honor their obligations could ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 494.05 Td (result in losses to the Company) Tj ET Q q 0 0 0 rg BT 156.12 494.05 Td (. ) Tj ET Q q 0 0 0 rg BT 160.94 494.05 Td (The Company's procedures include careful initial selection of its reinsurers, structuring agreements to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 482.05 Td (provide collateral funds where necessary) Tj ET Q q 0 0 0 rg BT 194.11 482.05 Td (, and regularly monitoring the financial condition and ratings of its reinsurers. ) Tj ET Q q 0 0 0 rg BT 507.74 482.05 Td (The Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 470.05 Td (entered into two reinsurance transactions in connection with the sales of its Retirement Plans and Individual Life businesses in January ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 458.05 Td (2013. For further discussion of these transactions, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.62 458.05 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.62 458.05 Td ( - Business Dispositions of Notes to Consolidated Financial Statements.) Tj ET Q BT /F4 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 438.7169921875 m 137.84765625 438.7169921875 l s q 0 0 0 rg BT 31.50 440.05 Td (Reinsurance Recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 422.05 Td (Reinsurance recoverables include balances due from reinsurance companies for paid and unpaid losses and loss adjustment expenses and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 410.05 Td (are presented net of an allowance for uncollectible reinsurance. Reinsurance recoverables include an estimate of the amount of gross ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 398.05 Td (losses and loss adjustment expense reserves that may be ceded under the terms of the reinsurance agreements, including incurred but not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 386.05 Td (reported unpaid losses. ) Tj ET Q q 0 0 0 rg BT 125.74 386.05 Td (The Company) Tj ET Q q 0 0 0 rg BT 185.46 386.05 Td (s estimate of losses and loss adjustment expense reserves ceded to reinsurers is based on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 374.05 Td (assumptions that are consistent with those used in establishing the gross reserves for business ceded to the reinsurance contracts. ) Tj ET Q q 0 0 0 rg BT 547.86 374.05 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 362.05 Td (Company calculates its ceded reinsurance projection based on the terms of any applicable facultative and treaty reinsurance, including an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 350.05 Td (estimate of how incurred but not reported losses will ultimately be ceded by reinsurance agreements. ) Tj ET Q q 0 0 0 rg BT 436.37 350.05 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 485.71 350.05 Td (, the Company) Tj ET Q q 0 0 0 rg BT 547.09 350.05 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 338.05 Td (estimate of reinsurance recoverables is subject to similar risks and uncertainties as the estimate of the gross reserve for unpaid losses and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 326.05 Td (loss adjustment expenses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 308.05 Td (The Company's reinsurance recoverables are summarized as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 268.55 312.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 268.55 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 268.55 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 246.55 312.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 246.55 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 246.55 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 224.55 312.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 224.55 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 224.55 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 202.55 312.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 202.55 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 202.55 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 180.55 312.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 180.55 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 180.55 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 158.55 312.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 158.55 96.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 440.00 158.55 96.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 268.54999999999995 m 344 268.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 268.54999999999995 m 440 268.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 268.54999999999995 m 536 268.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 235.54999999999995 m 344 235.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 235.54999999999995 m 440 235.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 235.54999999999995 m 536 235.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 213.54999999999995 m 344 213.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 202.54999999999995 m 344 202.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 213.54999999999995 m 440 213.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 202.54999999999995 m 440 202.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 213.54999999999995 m 536 213.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 202.54999999999995 m 536 202.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 158.54999999999995 m 344 158.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 158.54999999999995 m 440 158.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 158.54999999999995 m 536 158.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 158.54999999999995 m 344 158.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 147.54999999999995 m 344 147.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 158.54999999999995 m 440 158.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 147.54999999999995 m 440 147.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 158.54999999999995 m 536 158.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 147.54999999999995 m 536 147.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 147.54999999999995 m 344 147.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 136.54999999999995 m 344 136.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 147.54999999999995 m 440 147.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 136.54999999999995 m 440 136.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 147.54999999999995 m 536 147.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 440 136.54999999999995 m 536 136.54999999999995 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 402.30 282.95 Td (As of December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 382.50 271.00 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.50 271.00 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 259.33 Td (Property and Casualty Insurance Products:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 248.17 Td (Paid loss and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.50 248.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 248.17 Td (138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.50 248.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 248.17 Td (170) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 237.17 Td (Unpaid loss and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.65 237.17 Td (2,841) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.65 237.17 Td (2,852) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 226.17 Td (Gross reinsurance recoverable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.65 226.17 Td (2,979) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.65 226.17 Td (3,022) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 215.17 Td (Allowance for uncollectible reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.80 215.17 Td (\(244) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.15 215.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.80 215.17 Td (\(268) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.15 215.17 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 70.50 204.33 Td (Net reinsurance recoverables) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.50 204.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.65 204.33 Td (2,735) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.50 204.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.65 204.33 Td (2,754) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 193.33 Td (Life Insurance Products:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 182.17 Td (Future policy benefits and unpaid loss and loss adjustment expenses:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 171.17 Td (Sold businesses \(MassMutual and Prudential\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.50 171.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 171.17 Td (19,374) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.50 171.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.15 171.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.50 160.17 Td (Other reinsurers) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.65 160.17 Td (1,221) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.65 160.17 Td (1,912) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 70.50 149.33 Td (Net reinsurance recoverables) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.50 149.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.65 149.33 Td (20,595) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.50 149.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.65 149.33 Td (1,912) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 138.33 Td (Reinsurance recoverables, net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.50 138.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.65 138.33 Td (23,330) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.50 138.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.65 138.33 Td (4,666) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 119.05 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 119.05 Td (, the Company has reinsurance recoverables, net from MassMutual and Prudential of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.09 119.05 Td ($9.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.59 119.05 Td ( billion and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.65 119.05 Td ($9.9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 119.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 107.05 Td (billion, respectively) Tj ET Q q 0 0 0 rg BT 110.27 107.05 Td (. ) Tj ET Q q 0 0 0 rg BT 115.09 107.05 Td (These reinsurance recoverables are secured by invested assets held in trust for the benefit of the Company in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 95.05 Td (event of a default by the reinsurers. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.78 95.05 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.81 95.05 Td (, the fair value of assets held in trust securing the reinsurance recoverables ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 83.05 Td (from MassMutual and Prudential were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.41 83.05 Td ($9.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 205.91 83.05 Td ( billion and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 253.96 83.05 Td ($7.5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.46 83.05 Td ( billion, respectively) Tj ET Q q 0 0 0 rg BT 352.74 83.05 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.68 83.05 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.71 83.05 Td (, the reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 71.05 Td (recoverables, net from Prudential represent approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.69 71.05 Td (13%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.02 71.05 Td ( of the Company's consolidated stockholders' equity) Tj ET Q q 0 0 0 rg BT 492.38 71.05 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.33 71.05 Td (As of December 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 59.05 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 59.05 Td (, the Company has no other reinsurance-related concentrations of credit risk greater than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.47 59.05 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.80 59.05 Td ( of the Company) Tj ET Q q 0 0 0 rg BT 495.51 59.05 Td (s consolidated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 47.05 Td (stockholders) Tj ET Q q 0 0 0 rg BT 84.63 47.05 Td ( equity) Tj ET Q q 0 0 0 rg BT 111.48 47.05 Td (. ) Tj ET Q BT /F2 8.00 Tf ET 0 0 0 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (6. ) Tj ET Q q 0 0 0 rg BT 43.00 731.80 Td (Investments ) Tj ET Q q 0 0 0 rg BT 102.58 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.07 731.80 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 174.68 731.80 Td (Instruments ) Tj ET Q q 0 0 0 rg BT 234.88 731.80 Td (\(continued\)) Tj ET Q endstream endobj 403 0 obj <> endobj 404 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The allowance for uncollectible reinsurance reflects management) Tj ET Q q 0 0 0 rg BT 295.26 713.10 Td (s best estimate of reinsurance cessions that may be uncollectible in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (future due to reinsurers) Tj ET Q q 0 0 0 rg BT 127.11 701.10 Td ( unwillingness or inability to pay) Tj ET Q q 0 0 0 rg BT 258.39 701.10 Td (. ) Tj ET Q q 0 0 0 rg BT 263.21 701.10 Td (The Company analyzes recent developments in commutation activity between ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (reinsurers and cedants, recent trends in arbitration and litigation outcomes in disputes between reinsurers and cedants and the overall ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (credit quality of the Company) Tj ET Q q 0 0 0 rg BT 154.25 677.10 Td (s reinsurers. Based on this analysis, the Company may adjust the allowance for uncollectible reinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (or char) Tj ET Q q 0 0 0 rg BT 59.36 665.10 Td (ge of) Tj ET Q q 0 0 0 rg BT 79.44 665.10 Td (f reinsurer balances that are determined to be uncollectible. ) Tj ET Q q 0 0 0 rg BT 318.60 665.10 Td (Where its contracts permit, the Company secures future claim ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (obligations with various forms of collateral, including irrevocable letters of credit, secured trusts, funds held accounts and group-wide ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (of) Tj ET Q q 0 0 0 rg BT 39.65 641.10 Td (fsets.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (Due to the inherent uncertainties as to collection and the length of time before reinsurance recoverables become due, it is possible that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (future adjustments to the Company) Tj ET Q q 0 0 0 rg BT 174.81 611.10 Td (s reinsurance recoverables, net of the allowance, could be required, which could have a material ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (adverse ef) Tj ET Q q 0 0 0 rg BT 72.13 599.10 Td (fect on the Company) Tj ET Q q 0 0 0 rg BT 158.49 599.10 Td (s consolidated results of operations or cash flows in a particular quarter or annual period.) Tj ET Q BT /F4 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 31.5 579.7669921875 m 111.744140625 579.7669921875 l s q 0 0 0 rg BT 31.50 581.10 Td (Insurance Revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (The ef) Tj ET Q q 0 0 0 rg BT 57.13 563.10 Td (fect of reinsurance on property and casualty premiums written and earned is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 524.60 375.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 524.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 524.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 524.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 496.60 375.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 496.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 496.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 496.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 469.60 375.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 469.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 469.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 469.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 443.60 375.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 443.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 443.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 443.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 417.60 375.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 417.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 417.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 417.60 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 538.6 m 463 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 538.6 m 519 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 538.6 m 575 538.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 524.6 m 407 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 524.6 m 463 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 524.6 m 519 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 524.6 m 575 524.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 482.6 m 407 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 469.6 m 407 469.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407 482.6 m 463 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 469.6 m 463 469.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 463 482.6 m 519 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 469.6 m 519 469.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 519 482.6 m 575 482.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 469.6 m 575 469.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 417.6 m 407 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 404.6 m 407 404.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407 417.6 m 463 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 404.6 m 463 404.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 463 417.6 m 519 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 404.6 m 519 404.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 519 417.6 m 575 417.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 404.6 m 575 404.6 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 543.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.15 543.05 Td (For the years ended December 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 529.28 Td (Premiums Written) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.50 529.05 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.50 529.05 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.70 529.05 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 515.17 Td (Direct) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 515.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.65 515.17 Td (10,564) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.50 515.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.65 515.17 Td (10,405) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.50 515.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.65 515.17 Td (10,368) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 501.17 Td (Assumed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.15 501.17 Td (247) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 501.17 Td (230) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 501.17 Td (226) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 487.17 Td (Ceded) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.80 487.22 Td (\(882) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.15 487.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.80 487.22 Td (\(788) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.15 487.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.80 487.17 Td (\(742) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.15 487.17 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 473.33 Td (Net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.50 473.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.65 473.33 Td (9,929) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.50 473.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.65 473.33 Td (9,847) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.50 473.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.65 473.33 Td (9,852) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 460.33 Td (Premiums Earned) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.50 460.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.50 460.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.50 460.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 447.17 Td (Direct) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 447.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.65 447.17 Td (10,494) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.50 447.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.65 447.17 Td (10,484) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.50 447.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.65 447.17 Td (10,337) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 434.17 Td (Assumed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.15 434.17 Td (241) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 434.17 Td (205) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 434.17 Td (225) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 421.17 Td (Ceded) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.80 421.22 Td (\(871) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.15 421.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.80 421.22 Td (\(796) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.15 421.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.80 421.17 Td (\(688) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.15 421.17 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 408.33 Td (Net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.50 408.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.65 408.33 Td (9,864) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.50 408.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.65 408.33 Td (9,893) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.50 408.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.65 408.33 Td (9,874) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 387.10 Td (Ceded ) Tj ET Q q 0 0 0 rg BT 59.81 387.10 Td (losses, ) Tj ET Q q 0 0 0 rg BT 88.96 387.10 Td (which ) Tj ET Q q 0 0 0 rg BT 116.17 387.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 145.57 387.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 172.23 387.10 Td (and ) Tj ET Q q 0 0 0 rg BT 189.43 387.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 207.75 387.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 254.40 387.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 293.26 387.10 Td (incurred, ) Tj ET Q q 0 0 0 rg BT 331.84 387.10 Td (were ) Tj ET Q q 0 0 0 rg BT 354.03 387.10 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.03 387.10 Td (459) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.03 387.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.29 387.10 Td ($512) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.29 387.10 Td (, ) Tj ET Q q 0 0 0 rg BT 404.55 387.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.75 387.10 Td ($385) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.75 387.10 Td ( ) Tj ET Q q 0 0 0 rg BT 444.52 387.10 Td (for ) Tj ET Q q 0 0 0 rg BT 458.94 387.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.92 387.10 Td (years ) Tj ET Q q 0 0 0 rg BT 497.78 387.10 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.42 387.10 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 375.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 375.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.50 375.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 375.10 Td (, ) Tj ET Q q 0 0 0 rg BT 81.50 375.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 98.44 375.10 Td (201) Tj ET Q q 0 0 0 rg BT 113.07 375.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.07 375.10 Td (, ) Tj ET Q q 0 0 0 rg BT 123.07 375.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 170.73 375.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 357.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 357.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.13 357.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 74.62 357.10 Td (of ) Tj ET Q q 0 0 0 rg BT 85.45 357.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 134.03 357.10 Td (on ) Tj ET Q q 0 0 0 rg BT 146.53 357.10 Td (life ) Tj ET Q q 0 0 0 rg BT 162.36 357.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 203.17 357.10 Td (fees, ) Tj ET Q q 0 0 0 rg BT 224.27 357.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 253.42 357.10 Td (premiums ) Tj ET Q q 0 0 0 rg BT 295.91 357.10 Td (and ) Tj ET Q q 0 0 0 rg BT 312.85 357.10 Td (other ) Tj ET Q q 0 0 0 rg BT 335.90 357.10 Td (is ) Tj ET Q q 0 0 0 rg BT 345.07 357.10 Td (as ) Tj ET Q q 0 0 0 rg BT 355.90 357.10 Td (follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 311.60 375.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 311.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 311.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 311.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 283.60 375.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 283.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 463.00 283.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 519.00 283.60 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 326.6 m 463 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 326.6 m 519 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 326.6 m 575 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 326.6 m 463 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 326.6 m 519 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 326.6 m 575 326.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 311.6 m 407 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 311.6 m 463 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 311.6 m 519 311.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 311.6 m 575 311.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 269.6 m 407 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 256.6 m 407 256.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407 269.6 m 463 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 256.6 m 463 256.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 463 269.6 m 519 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 256.6 m 519 256.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 519 269.6 m 575 269.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 519 256.6 m 575 256.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 331.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.15 331.05 Td (For the years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 316.27 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.50 316.05 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 481.50 316.05 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 537.70 316.05 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 302.17 Td (Gross fee income, earned premiums and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 302.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.65 302.17 Td (7,798) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.50 302.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.65 302.17 Td (8,500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.50 302.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.65 302.17 Td (9,292) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 288.17 Td (Reinsurance assumed) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.15 288.17 Td (138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.15 288.17 Td (137) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 288.17 Td (134) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 274.17 Td (Reinsurance ceded) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.30 274.22 Td (\(1,780) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.15 274.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.80 274.22 Td (\(524) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.15 274.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.80 274.17 Td (\(524) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.15 274.17 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 260.33 Td (Net fee income, earned premiums and other) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.50 260.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.65 260.33 Td (6,156) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.50 260.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 492.65 260.33 Td (8,113) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 521.50 260.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.65 260.33 Td (8,902) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.10 Td (The Company reinsures certain of its risks to other reinsurers under yearly renewable term, coinsurance, and modified coinsurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.10 Td (arrangements, and variations thereto. ) Tj ET Q q 0 0 0 rg BT 181.63 227.10 Td (Y) Tj ET Q q 0 0 0 rg BT 187.85 227.10 Td (early renewable term and coinsurance arrangements result in passing all or a portion of the risk to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.10 Td (the reinsurer) Tj ET Q q 0 0 0 rg BT 81.20 215.10 Td (. Generally) Tj ET Q q 0 0 0 rg BT 124.98 215.10 Td (, the reinsurer receives a proportionate amount of the premiums less an allowance for commissions and expenses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.10 Td (and is liable for a corresponding proportionate amount of all benefit payments. Modified coinsurance is similar to coinsurance except ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.10 Td (that the cash and investments that support the liabilities for contract benefits are not transferred to the assuming company) Tj ET Q q 0 0 0 rg BT 515.71 191.10 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.10 Td (settlements are made on a net basis between the companies. Coinsurance with funds withheld is a form of coinsurance except that the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.10 Td (investment assets that support the liabilities are withheld by the ceding company) Tj ET Q q 0 0 0 rg BT 352.72 167.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.10 Td (The ) Tj ET Q q 0 0 0 rg BT 48.65 149.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 66.35 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 76.28 149.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 123.96 149.10 Td (related ) Tj ET Q q 0 0 0 rg BT 152.76 149.10 Td (to ) Tj ET Q q 0 0 0 rg BT 162.14 149.10 Td (long-duration ) Tj ET Q q 0 0 0 rg BT 218.17 149.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 255.86 149.10 Td (is ) Tj ET Q q 0 0 0 rg BT 264.13 149.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 306.26 149.10 Td (for ) Tj ET Q q 0 0 0 rg BT 319.52 149.10 Td (over ) Tj ET Q q 0 0 0 rg BT 338.89 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 352.70 149.10 Td (life ) Tj ET Q q 0 0 0 rg BT 367.62 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 377.55 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 391.37 149.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 436.29 149.10 Td (reinsured ) Tj ET Q q 0 0 0 rg BT 475.10 149.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 507.80 149.10 Td (using ) Tj ET Q q 0 0 0 rg BT 531.07 149.10 Td (assumptions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 74.65 137.10 Td (with ) Tj ET Q q 0 0 0 rg BT 95.58 137.10 Td (those ) Tj ET Q q 0 0 0 rg BT 119.85 137.10 Td (used ) Tj ET Q q 0 0 0 rg BT 141.33 137.10 Td (to ) Tj ET Q q 0 0 0 rg BT 152.27 137.10 Td (account ) Tj ET Q q 0 0 0 rg BT 186.52 137.10 Td (for ) Tj ET Q q 0 0 0 rg BT 201.33 137.10 Td (the ) Tj ET Q q 0 0 0 rg BT 216.71 137.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 263.19 137.10 Td (policies. ) Tj ET Q q 0 0 0 rg BT 299.95 137.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 341.97 137.10 Td (recoveries ) Tj ET Q q 0 0 0 rg BT 386.21 137.10 Td (on ) Tj ET Q q 0 0 0 rg BT 399.37 137.10 Td (ceded ) Tj ET Q q 0 0 0 rg BT 425.84 137.10 Td (reinsurance ) Tj ET Q q 0 0 0 rg BT 475.08 137.10 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 526.26 137.10 Td (which ) Tj ET Q q 0 0 0 rg BT 553.86 137.10 Td (reduce ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.10 Td (death ) Tj ET Q q 0 0 0 rg BT 55.66 125.10 Td (and ) Tj ET Q q 0 0 0 rg BT 72.59 125.10 Td (other ) Tj ET Q q 0 0 0 rg BT 95.64 125.10 Td (benefits, ) Tj ET Q q 0 0 0 rg BT 132.30 125.10 Td (were ) Tj ET Q q 0 0 0 rg BT 154.22 125.10 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 159.22 125.10 Td (913) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.22 125.10 Td (, ) Tj ET Q q 0 0 0 rg BT 179.22 125.10 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.22 125.10 Td (285) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.22 125.10 Td ( ) Tj ET Q q 0 0 0 rg BT 201.72 125.10 Td (and ) Tj ET Q q 0 0 0 rg BT 218.66 125.10 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.66 125.10 Td (224) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.66 125.10 Td ( ) Tj ET Q q 0 0 0 rg BT 241.16 125.10 Td (for ) Tj ET Q q 0 0 0 rg BT 255.32 125.10 Td (the ) Tj ET Q q 0 0 0 rg BT 270.04 125.10 Td (years ) Tj ET Q q 0 0 0 rg BT 293.64 125.10 Td (ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.02 125.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 378.60 125.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.60 125.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.60 125.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.60 125.10 Td (, ) Tj ET Q q 0 0 0 rg BT 428.60 125.10 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.54 125.10 Td (201) Tj ET Q q 0 0 0 rg BT 460.17 125.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.17 125.10 Td (, ) Tj ET Q q 0 0 0 rg BT 470.17 125.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 517.83 125.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 107.10 Td (In addition, the Company has reinsured a portion of the risk associated with U.S. variable annuities and the associated GMDB and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 95.10 Td (GMWB riders, and of the risks associated with variable annuity contract and rider benefits issued by Hartford Life Insurance KK ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 83.10 Td (\(HLIKK\), an indirect wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 228.02 83.10 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (7. Reinsurance \(continued\)) Tj ET Q endstream endobj 405 0 obj <> endobj 406 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-66) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (8) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 37.00 712.60 Td (. ) Tj ET Q q 0 0 0 rg BT 42.50 712.60 Td (Deferr) Tj ET Q q 0 0 0 rg BT 73.44 712.60 Td (ed ) Tj ET Q q 0 0 0 rg BT 87.19 712.60 Td (Policy ) Tj ET Q q 0 0 0 rg BT 118.04 712.60 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 174.59 712.60 Td (Costs ) Tj ET Q q 0 0 0 rg BT 203.00 712.60 Td (and ) Tj ET Q q 0 0 0 rg BT 223.49 712.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 234.89 712.60 Td (esent ) Tj ET Q q 0 0 0 rg BT 261.27 712.60 Td (V) Tj ET Q q 0 0 0 rg BT 268.20 712.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 290.51 712.60 Td (of ) Tj ET Q q 0 0 0 rg BT 302.42 712.60 Td (Futur) Tj ET Q q 0 0 0 rg BT 329.72 712.60 Td (e ) Tj ET Q q 0 0 0 rg BT 337.36 712.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 348.76 712.60 Td (ofits) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 668.10 314.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 668.10 73.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 668.10 73.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 668.10 73.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 641.10 314.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 641.10 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 641.10 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 641.10 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 613.10 314.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 613.10 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 613.10 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 613.10 73.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 572.10 314.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 346.00 572.10 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.00 572.10 73.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 492.00 572.10 73.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346 681.1 m 419 681.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 681.1 m 492 681.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 681.1 m 565 681.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 668.1 m 346 668.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346 668.1 m 419 668.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 668.1 m 492 668.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 668.1 m 565 668.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346 668.1 m 419 668.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 668.1 m 492 668.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 668.1 m 565 668.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 558.1 m 346 558.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 545.1 m 346 545.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 346 558.1 m 419 558.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346 545.1 m 419 545.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419 558.1 m 492 558.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 545.1 m 492 545.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 492 558.1 m 565 558.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492 545.1 m 565 545.1 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 685.77 Td (Changes in the DAC balance are as follows:) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.65 685.55 Td (For the years ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 373.00 672.50 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.00 672.50 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 519.20 672.50 Td (2011) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 658.83 Td (Balance, beginning of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 348.50 658.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 392.65 658.83 Td (5,725) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.50 658.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.65 658.83 Td (6,556) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.50 658.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 538.65 658.83 Td (7,473) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 645.67 Td (Deferred Costs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.65 645.67 Td (1,330) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.65 645.67 Td (1,639) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 538.65 645.67 Td (1,696) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 631.67 Td (Amortization DAC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.30 631.72 Td (\(1,615) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 631.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.30 631.72 Td (\(1,844) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 631.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.30 631.67 Td (\(2,025) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 631.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 617.67 Td (Amortization Unlock benefit \(charge\), pre-tax [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.30 617.72 Td (\(1,086) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 617.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.80 617.72 Td (\(144) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 617.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.80 617.67 Td (\(419) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 617.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 602.77 Td (Amortization DAC related to business dispositions [2] [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.30 602.82 Td (\(2,229) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 602.77 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.15 602.77 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.15 602.77 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 586.77 Td (Adjustments to unrealized gains and losses on securities available-for-sale) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 576.77 Td (and other [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.15 576.77 Td (122) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.80 576.82 Td (\(364) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 576.77 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.80 576.77 Td (\(240) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 576.77 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 562.67 Td (Effect of currency translation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.80 562.72 Td (\(86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 562.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.80 562.72 Td (\(118) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.15 562.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.15 562.67 Td (71) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 548.83 Td (Balance, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 348.50 548.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 392.65 548.83 Td (2,161) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.50 548.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 465.65 548.83 Td (5,725) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.50 548.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 538.65 548.83 Td (6,556) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 528.60 Td ([1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.00 528.60 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 528.60 Td (Includes Unlock char) Tj ET Q q 0 0 0 rg BT 126.64 528.60 Td (ge of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 146.64 528.60 Td ($887) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 164.64 528.60 Td ( in 2013 r) Tj ET Q q 0 0 0 rg BT 199.56 528.60 Td (elated to elimination of futur) Tj ET Q q 0 0 0 rg BT 302.71 528.60 Td (e estimated gr) Tj ET Q q 0 0 0 rg BT 353.37 528.60 Td (oss pr) Tj ET Q q 0 0 0 rg BT 374.79 528.60 Td (ofits on the Japan variable annuity block due to the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 517.80 Td (incr) Tj ET Q q 0 0 0 rg BT 63.66 517.80 Td (eased costs associated with expanding the Japan variable annuity hedging pr) Tj ET Q q 0 0 0 rg BT 342.29 517.80 Td (ogram.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 507.00 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 507.00 Td (Includes accelerated amortization of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 183.97 507.00 Td ($352) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 201.97 507.00 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 219.97 507.00 Td ($2,374) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 244.72 507.00 Td ( r) Tj ET Q q 0 0 0 rg BT 250.14 507.00 Td (ecognized upon the sale of the Retir) Tj ET Q q 0 0 0 rg BT 378.78 507.00 Td (ement Plans and Individual Life businesses, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 496.20 Td (r) Tj ET Q q 0 0 0 rg BT 52.67 496.20 Td (espectively) Tj ET Q q 0 0 0 rg BT 91.64 496.20 Td (, in 2013. For further information, see Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 250.89 496.20 Td (2) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 255.39 496.20 Td ( - Business Dispositions of Notes to Consolidated Financial Statements.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 485.40 Td ([3] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 485.40 Td (Includes pr) Tj ET Q q 0 0 0 rg BT 89.91 485.40 Td (eviously unr) Tj ET Q q 0 0 0 rg BT 133.81 485.40 Td (ealized gains on securities ) Tj ET Q q 0 0 0 rg BT 231.14 485.40 Td (AFS of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 258.13 485.40 Td ($148) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 276.13 485.40 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 294.13 485.40 Td ($349) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 312.13 485.40 Td ( r) Tj ET Q q 0 0 0 rg BT 317.55 485.40 Td (ecognized upon the sale of the Retir) Tj ET Q q 0 0 0 rg BT 446.19 485.40 Td (ement Plans and Individual Life ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (businesses, r) Tj ET Q q 0 0 0 rg BT 95.17 474.60 Td (espectively) Tj ET Q q 0 0 0 rg BT 134.14 474.60 Td (, in 2013. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 463.80 Td ([4] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 463.80 Td (Other includes a ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 111.74 463.80 Td ($16) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 125.24 463.80 Td ( r) Tj ET Q q 0 0 0 rg BT 130.66 463.80 Td (eduction of the DAC asset as a r) Tj ET Q q 0 0 0 rg BT 247.06 463.80 Td (esult of the sale of assets used to administer the Company's PPLI business in 2012. The ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 453.00 Td (r) Tj ET Q q 0 0 0 rg BT 52.67 453.00 Td (eduction is dir) Tj ET Q q 0 0 0 rg BT 104.33 453.00 Td (ectly attributable to this transaction as it r) Tj ET Q q 0 0 0 rg BT 256.74 453.00 Td (esults in lower futur) Tj ET Q q 0 0 0 rg BT 328.66 453.00 Td (e estimated gr) Tj ET Q q 0 0 0 rg BT 379.32 453.00 Td (oss pr) Tj ET Q q 0 0 0 rg BT 400.74 453.00 Td (ofits than originally estimated on these pr) Tj ET Q q 0 0 0 rg BT 550.90 453.00 Td (oducts. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 429.00 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 429.00 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 429.00 Td (, estimated future net amortization expense of present value of future profits for the succeeding five years is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.98 429.00 Td ($8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.98 429.00 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 417.00 Td ($7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.50 417.00 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 417.00 Td ($6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.50 417.00 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 417.00 Td ($5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 417.00 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.94 417.00 Td ($5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 100.94 417.00 Td ( in 2014, 2015, 2016, 2017 and 2018, respectively) Tj ET Q q 0 0 0 rg BT 300.82 417.00 Td (. ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 407 0 obj <> endobj 408 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-67) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (9) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 37.00 712.60 Td (. ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 42.50 712.60 Td (Goodwill) Tj ET Q BT /F3 11.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 31.50 693.40 Td (The carrying value of goodwill allocated to reporting units is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 638.90 119.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.00 638.90 45.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.00 638.90 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 638.90 66.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 638.90 44.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 638.90 48.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 638.90 58.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 638.90 66.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.00 638.90 43.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 603.90 119.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.00 603.90 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.00 603.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 603.90 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 603.90 44.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 603.90 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 603.90 58.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 603.90 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.00 603.90 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 575.90 119.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.00 575.90 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.00 575.90 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 575.90 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 575.90 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 575.90 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 575.90 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 575.90 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.00 575.90 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 549.90 119.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.00 549.90 45.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.00 549.90 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 549.90 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 549.90 44.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 549.90 48.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 549.90 58.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 549.90 66.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.00 549.90 43.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 522.90 119.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 151.00 522.90 45.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 196.00 522.90 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 254.00 522.90 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 522.90 44.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 522.90 48.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.00 522.90 58.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 522.90 66.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 536.00 522.90 43.00 -16.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151 666.9 m 196 666.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196 666.9 m 254 666.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254 666.9 m 320 666.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 666.9 m 364 666.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 666.9 m 412 666.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 666.9 m 470 666.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 666.9 m 536 666.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536 666.9 m 579 666.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 638.9 m 151 638.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151 638.9 m 196 638.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196 638.9 m 254 638.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254 638.9 m 320 638.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 638.9 m 364 638.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 638.9 m 412 638.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 638.9 m 470 638.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 666.9 m 536 666.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 638.9 m 536 638.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536 638.9 m 579 638.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 549.9 m 151 549.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151 549.9 m 196 549.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196 549.9 m 254 549.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254 549.9 m 320 549.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 549.9 m 364 549.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 549.9 m 412 549.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 549.9 m 470 549.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 549.9 m 536 549.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536 549.9 m 579 549.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 522.9 m 151 522.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 506.9 m 151 506.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 151 522.9 m 196 522.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151 506.9 m 196 506.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 196 522.9 m 254 522.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 196 506.9 m 254 506.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 254 522.9 m 320 522.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254 506.9 m 320 506.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320 522.9 m 364 522.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 506.9 m 364 506.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364 522.9 m 412 522.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 506.9 m 412 506.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 412 522.9 m 470 522.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412 506.9 m 470 506.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470 522.9 m 536 522.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 506.9 m 536 506.9 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 536 522.9 m 579 522.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 536 506.9 m 579 506.9 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 671.16 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 220.70 671.30 Td (December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.70 671.30 Td (December 31, 2012) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 643.36 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 161.80 643.35 Td (Gross) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 199.00 652.35 Td (Accumulated) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 199.50 643.35 Td (Impairments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 269.95 652.35 Td (Business) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 256.85 643.35 Td (Dispositions [1]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.75 652.35 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 330.65 643.35 Td (Value) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 376.30 643.35 Td (Gross) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.00 652.35 Td (Accumulated) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.50 643.35 Td (Impairments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.95 652.35 Td (Business) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.85 643.35 Td (Dispositions [2]) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 539.25 652.35 Td (Carrying) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.15 643.35 Td (Value) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 630.16 Td (Property & Casualty) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 621.16 Td (Commercial) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 153.50 622.36 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 183.50 622.36 Td (30) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 198.50 622.36 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 238.50 622.36 Td (\(30) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 250.50 622.36 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 256.50 622.36 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 307.50 622.36 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.50 622.36 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.50 622.36 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 366.50 622.36 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 399.50 622.36 Td (30) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 414.50 622.36 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 454.50 622.36 Td (\(30) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.50 622.36 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 472.50 622.36 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.50 622.36 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 538.50 622.36 Td ($) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 566.50 622.36 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 608.36 Td (Consumer Markets) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 179.00 608.36 Td (119) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 241.50 608.36 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 307.50 608.36 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.00 608.36 Td (119) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 395.00 608.36 Td (119) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.50 608.36 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.50 608.36 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 562.00 608.36 Td (119) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 593.36 Td (Mutual Funds [4]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 179.00 593.36 Td (149) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 241.50 593.36 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 307.50 593.36 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.00 593.36 Td (149) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 395.00 593.36 Td (159) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.50 593.36 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 520.50 593.36 Td (\(10) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 532.50 593.36 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 562.00 593.36 Td (149) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 580.16 Td (Talcott Resolution:) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 40.50 567.16 Td (Individual Life [4]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 183.50 567.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 241.50 567.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 307.50 567.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.50 567.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 395.00 567.16 Td (224) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.50 567.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 516.00 567.16 Td (\(224) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 532.50 567.16 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 566.50 567.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 40.50 554.16 Td (Retirement Plans [4]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 183.50 554.16 Td (87) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 241.50 554.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.50 554.16 Td (\(87) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 316.50 554.16 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.50 554.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 399.50 554.16 Td (87) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.50 554.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 523.50 554.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 566.50 554.16 Td (87) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 541.16 Td (Total Talcott Resolution) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 183.50 541.16 Td (87) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 241.50 541.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.50 541.16 Td (\(87) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 316.50 541.16 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.50 541.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 395.00 541.16 Td (311) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 457.50 541.16 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 516.00 541.16 Td (\(224) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 532.50 541.16 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 566.50 541.16 Td (87) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 527.36 Td (Corporate [3][4]) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 179.00 527.36 Td (654) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 234.00 527.36 Td (\(355) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 250.50 527.36 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 304.50 527.36 Td (\(69) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 316.50 527.36 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 347.00 527.36 Td (230) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 395.00 527.36 Td (772) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 450.00 527.36 Td (\(355) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 466.50 527.36 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 516.00 527.36 Td (\(118) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 532.50 527.36 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 562.00 527.36 Td (299) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 40.50 511.35 Td (Total) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 153.50 511.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 172.25 511.35 Td (1,039) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 198.50 511.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 234.00 511.35 Td (\(385) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 250.50 511.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 256.50 511.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 300.00 511.35 Td (\(156) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 316.50 511.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 322.50 511.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 347.00 511.35 Td (498) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.50 511.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.25 511.35 Td (1,391) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.50 511.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 450.00 511.35 Td (\(385) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.50 511.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.50 511.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.00 511.35 Td (\(352) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.50 511.35 Td (\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 538.50 511.35 Td ($) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 562.00 511.35 Td (654) Tj ET Q BT /F2 10.00 Tf ET BT /F4 11.00 Tf ET q 0 0 0 rg BT 40.50 488.20 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 58.50 488.20 Td (Repr) Tj ET Q q 0 0 0 rg BT 75.66 488.20 Td (esents a r) Tj ET Q q 0 0 0 rg BT 109.82 488.20 Td (eduction in goodwill r) Tj ET Q q 0 0 0 rg BT 189.24 488.20 Td (ecognized in connection with the sale of Retir) Tj ET Q q 0 0 0 rg BT 353.12 488.20 Td (ement Plans.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 40.50 477.40 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 58.50 477.40 Td (Repr) Tj ET Q q 0 0 0 rg BT 75.66 477.40 Td (esents a r) Tj ET Q q 0 0 0 rg BT 109.82 477.40 Td (eduction in goodwill r) Tj ET Q q 0 0 0 rg BT 189.24 477.40 Td (ecognized in connection with the sale of WFS and a goodwill impairment r) Tj ET Q q 0 0 0 rg BT 458.37 477.40 Td (ecognized in connection with the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 58.50 466.60 Td (sale of Individual Life.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 40.50 455.80 Td ([3] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 58.50 455.80 Td (Carrying value as of December 31, 2013 includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 240.22 455.80 Td ($138) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 258.22 455.80 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 276.22 455.80 Td ($92) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 289.72 455.80 Td (, r) Tj ET Q q 0 0 0 rg BT 297.39 455.80 Td (espectively) Tj ET Q q 0 0 0 rg BT 336.36 455.80 Td (, for the Gr) Tj ET Q q 0 0 0 rg BT 376.53 455.80 Td (oup Benefits and Mutual Funds r) Tj ET Q q 0 0 0 rg BT 495.44 455.80 Td (eporting units. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 58.50 445.00 Td (Carrying value as of December 31, 2012 includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 240.22 445.00 Td ($138) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 258.22 445.00 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 262.72 445.00 Td ($92) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 276.22 445.00 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 294.22 445.00 Td ($69) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 307.72 445.00 Td (, r) Tj ET Q q 0 0 0 rg BT 315.39 445.00 Td (espectively) Tj ET Q q 0 0 0 rg BT 354.36 445.00 Td (, for the Gr) Tj ET Q q 0 0 0 rg BT 394.53 445.00 Td (oup Benefits, Mutual Funds and Retir) Tj ET Q q 0 0 0 rg BT 530.18 445.00 Td (ement Plans ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 58.50 434.20 Td (r) Tj ET Q q 0 0 0 rg BT 61.67 434.20 Td (eporting units.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 40.50 423.40 Td ([4] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 58.50 423.40 Td (For further information, see Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 181.49 423.40 Td (2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 185.99 423.40 Td ( - ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 193.49 423.40 Td (Business Dispositions) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 272.25 423.40 Td ( of Notes to Consolidated Financial Statements. ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 405.40 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 405.40 Td (ear ended December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 387.40 Td (During the first quarter of 2013, the Company completed the sale of its Retirement Plans business to Mass Mutual. ) Tj ET Q q 0 0 0 rg BT 495.31 387.40 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 544.65 387.40 Td (, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 375.40 Td (carrying value of the reporting unit's goodwill of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.81 375.40 Td ($156) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.81 375.40 Td ( was reduced and included in reinsurance loss on disposition in the Company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 363.40 Td (Consolidated Statements of Operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 345.40 Td (The annual goodwill assessment for the Mutual Funds, Group Benefits, and Consumer Markets reporting units was completed as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 333.40 Td (October 31, 2013, which resulted in no write-downs of goodwill for the year ended December 31, 2013. ) Tj ET Q q 0 0 0 rg BT 451.95 333.40 Td (All reporting units passed the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 321.40 Td (first step of their annual impairment test with a significant mar) Tj ET Q q 0 0 0 rg BT 281.81 321.40 Td (gin.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 303.40 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 303.40 Td (ear ended December 31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 285.40 Td (During the first quarter of 2012, the Company determined that a triggering event requiring an impairment assessment had occurred as a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 273.40 Td (result of its decision to pursue sales or other strategic alternatives for the Individual Life and Retirement Plans reporting units. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 255.40 Td (The Company completed interim impairment tests during each of the first three quarters of 2012 for the Retirement Plans reporting unit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 243.40 Td (which resulted in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.87 243.40 Td (no) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.87 243.40 Td ( impairment of goodwill. ) Tj ET Q q 0 0 0 rg BT 215.18 243.40 Td (The annual goodwill assessment for Retirement Plans was completed as of October 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 231.40 Td (2012 and an additional impairment test was completed as of December 31, 2012 as a result of the anticipated sale of this business unit. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 219.40 Td (No) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 43.72 219.40 Td ( write-down of goodwill resulted for the year ended December 31, 2012. Retirement Plans passed step one of the goodwill ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 207.40 Td (impairment tests with a mar) Tj ET Q q 0 0 0 rg BT 142.96 207.40 Td (gin of less than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 206.29 207.40 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.62 207.40 Td ( between fair value and book value of the reporting unit as of both dates. ) Tj ET Q q 0 0 0 rg BT 519.62 207.40 Td (The fair value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 195.40 Td (of the Retirement Plans reporting unit as of October 31, 2012 and December 31, 2012 was based on a negotiated transaction price.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 177.40 Td (The Company completed interim impairment tests during each of the first three quarters of 2012 for the Individual Life reporting unit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 165.40 Td (which resulted in no impairment of goodwill in the first and second quarters of 2012. In the third quarter of 2012, the Individual Life ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 153.40 Td (reporting unit failed the goodwill impairment test as the carrying amount of the Individual Life reporting unit's goodwill exceeded the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 140.20 Td (implied goodwill value. ) Tj ET Q q 0 0 0 rg BT 128.71 140.20 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 178.05 140.20 Td (, an impairment loss of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.48 140.20 Td ($342) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.48 140.20 Td ( was recognized,) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 359.39 140.20 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.14 140.20 Td (representing the carrying value of the reporting unit's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 128.20 Td (goodwill. ) Tj ET Q q 0 0 0 rg BT 71.88 128.20 Td (The goodwill impairment loss is included in reinsurance loss on disposition in the Company's Consolidated Statements of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 116.20 Td (Operations. ) Tj ET Q q 0 0 0 rg BT 82.70 116.20 Td (The fair value of the Individual Life reporting unit as of September 30, 2012 was based on a negotiated transaction price.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 409 0 obj <> endobj 410 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-68) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (9. Goodwill \(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 694.60 Td (The annual goodwill assessment for the Mutual Funds and Consumer Markets reporting units and the Group Benefits reporting unit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 682.60 Td (within Corporate was completed as of October 31, 2012, which resulted in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.98 682.60 Td (no) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.98 682.60 Td ( write-downs of goodwill for the year ended December 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 670.60 Td (2012. ) Tj ET Q q 0 0 0 rg BT 58.82 670.60 Td (The reporting units passed the first step of their annual impairment test with a significant mar) Tj ET Q q 0 0 0 rg BT 432.15 670.60 Td (gin with the exception of the Group ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 658.60 Td (Benefits reporting unit. Group Benefits passed the first step of its annual impairment test with less than a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.86 658.60 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.19 658.60 Td ( mar) Tj ET Q q 0 0 0 rg BT 492.06 658.60 Td (gin. ) Tj ET Q q 0 0 0 rg BT 512.15 658.60 Td (The fair value of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 646.60 Td (the Group Benefits reporting unit is based on discounted cash flows using earnings projections on in force business and future business ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 634.60 Td (growth. ) Tj ET Q q 0 0 0 rg BT 67.15 634.60 Td (There could be a positive or negative impact on the result of step one in future periods if assumptions change about the level of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 622.60 Td (economic capital, future business growth, earnings projections or the weighted average cost of capital.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 31.50 604.60 Td (Y) Tj ET Q q 0 0 0 rg BT 36.50 604.60 Td (ear ended December 31, 201) Tj ET Q q 0 0 0 rg BT 152.86 604.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 586.60 Td (During the second quarter of 201) Tj ET Q q 0 0 0 rg BT 163.59 586.60 Td (1, the Company wrote of) Tj ET Q q 0 0 0 rg BT 263.11 586.60 Td (f the remaining $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 331.70 586.60 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.70 586.60 Td ( of goodwill associated with the Federal ) Tj ET Q q 0 0 0 rg BT 503.98 586.60 Td (T) Tj ET Q q 0 0 0 rg BT 509.74 586.60 Td (rust Corporation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 574.60 Td (\(FTC\) reporting unit within Corporate due to the announced divestiture of FTC. ) Tj ET Q q 0 0 0 rg BT 364.58 574.60 Td (The write-of) Tj ET Q q 0 0 0 rg BT 414.65 574.60 Td (f of the FTC reporting unit goodwill was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 562.60 Td (recorded as a loss on disposal within discontinued operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 544.60 Td (The Consumer Markets reporting unit completed its annual goodwill assessment on October1, 201) Tj ET Q q 0 0 0 rg BT 427.72 544.60 Td (1 and again on October31, 201) Tj ET Q q 0 0 0 rg BT 553.15 544.60 Td (1, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 532.60 Td (which resulted in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.87 532.60 Td (no) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.87 532.60 Td ( impairment of goodwill. In both tests, the Consumer Markets reporting unit passed the first step of the annual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 520.60 Td (impairment tests with a significant mar) Tj ET Q q 0 0 0 rg BT 187.67 520.60 Td (gin. ) Tj ET Q q 0 0 0 rg BT 205.27 520.60 Td (The annual goodwill assessment for the Property & Casualty Commercial reporting unit that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 508.60 Td (was performed on October1, 201) Tj ET Q q 0 0 0 rg BT 165.53 508.60 Td (1 resulted in a write-down of goodwill of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.72 508.60 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.72 508.60 Td (, pre-tax leaving no remaining goodwill. ) Tj ET Q q 0 0 0 rg BT 511.39 508.60 Td (The results of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 496.60 Td (the discounted cash flow calculations indicated that the fair value of the reporting unit was less than the carrying value; this was due ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 484.60 Td (primarily to a decrease in future expected underwriting cash flows. ) Tj ET Q q 0 0 0 rg BT 301.50 484.60 Td (The decrease in future expected underwriting cash flows is driven by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 472.60 Td (an expected reduction in written premium in the short term as the Company maintains pricing discipline in a downward market cycle, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 460.60 Td (while retaining long term capabilities for future opportunities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 442.60 Td (The Company completed its annual goodwill assessment for Mutual Funds, Individual Life, Retirement Plans and Group Benefits, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 430.60 Td (including the goodwill within Corporate, on January1, 201) Tj ET Q q 0 0 0 rg BT 268.32 430.60 Td (1 and October31, 201) Tj ET Q q 0 0 0 rg BT 357.09 430.60 Td (1, which resulted in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.46 430.60 Td (no) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.46 430.60 Td ( impairment of goodwill. In both ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 418.60 Td (tests, the reporting units passed the first step of their annual impairment tests with a significant mar) Tj ET Q q 0 0 0 rg BT 428.17 418.60 Td (gin with the exception of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 406.60 Td (Individual Life reporting unit at the January1, 201) Tj ET Q q 0 0 0 rg BT 234.13 406.60 Td (1 test. ) Tj ET Q q 0 0 0 rg BT 260.34 406.60 Td (The Individual Life reporting unit had a mar) Tj ET Q q 0 0 0 rg BT 437.60 406.60 Td (gin of less than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.92 406.60 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.25 406.60 Td ( between fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 394.60 Td (value and book value on January1, 201) Tj ET Q q 0 0 0 rg BT 189.98 394.60 Td (1. ) Tj ET Q q 0 0 0 rg BT 199.42 394.60 Td (As of the October31, 201) Tj ET Q q 0 0 0 rg BT 302.92 394.60 Td (1 impairment test, the Individual Life reporting unit had a fair value ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 382.60 Td (in excess of book value of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.95 382.60 Td (15%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.28 382.60 Td (, a modest improvement from January 1, 201) Tj ET Q q 0 0 0 rg BT 396.59 382.60 Td (1 results due to improving cost of capital.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 348.35 Td (10) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 42.50 348.35 Td (. ) Tj ET Q q 0 0 0 rg BT 48.00 348.35 Td (Sales ) Tj ET Q q 0 0 0 rg BT 74.59 348.35 Td (Inducements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 331.35 Td (The Company of) Tj ET Q q 0 0 0 rg BT 99.08 331.35 Td (fered enhanced crediting rates or bonus payments to contract holders on certain of its individual and group annuity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 319.35 Td (products. ) Tj ET Q q 0 0 0 rg BT 70.76 319.35 Td (The expense associated with of) Tj ET Q q 0 0 0 rg BT 195.53 319.35 Td (fering a bonus is deferred and amortized over the life of the related contract in a pattern ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 307.35 Td (consistent with the amortization of deferred policy acquisition costs. ) Tj ET Q q 0 0 0 rg BT 306.99 307.35 Td (Amortization expense associated with expenses previously deferred ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 295.35 Td (is recorded over the remaining life of the contract. Consistent with the Unlock, the Company unlocks the amortization of the sales ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 283.35 Td (inducement asset. For further information concerning the Unlock, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.19 283.35 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.19 283.35 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.52 283.35 Td (Deferred Policy ) Tj ET Q q 0 0 0 rg BT 413.05 283.35 Td (Acquisition Costs and Present ) Tj ET Q q 0 0 0 rg BT 535.64 283.35 Td (V) Tj ET Q q 0 0 0 rg BT 541.75 283.35 Td (alue of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 271.35 Td (Future Profits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 86.78 271.35 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 253.35 Td (Changes in sales inducement activity are as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 208.85 381.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 208.85 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 208.85 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 208.85 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 181.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 181.85 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 181.85 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 181.85 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 153.85 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 153.85 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 153.85 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 153.85 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 221.85000000000002 m 469 221.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 221.85000000000002 m 525 221.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 221.85000000000002 m 581 221.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 208.85000000000002 m 413 208.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 208.85000000000002 m 469 208.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 208.85000000000002 m 525 208.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 208.85000000000002 m 581 208.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 208.85000000000002 m 469 208.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 208.85000000000002 m 525 208.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 208.85000000000002 m 581 208.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 139.85000000000002 m 469 139.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 139.85000000000002 m 525 139.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 139.85000000000002 m 581 139.85000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 139.85000000000002 m 413 139.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 126.85000000000002 m 413 126.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 126.85000000000002 m 469 126.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 126.85000000000002 m 525 126.85000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 126.85000000000002 m 581 126.85000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.15 226.30 Td (For the years ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.50 213.25 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.50 213.25 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.70 213.25 Td (2011) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 199.58 Td (Balance, beginning of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.50 199.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 450.15 199.58 Td (325) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 199.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.15 199.58 Td (434) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 199.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 199.58 Td (459) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 186.42 Td (Sales inducements deferred) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 186.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.15 186.42 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 186.42 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 172.42 Td (Amortization Unlock charge [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.80 172.47 Td (\(72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 172.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.80 172.47 Td (\(82) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 172.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 172.42 Td (\(28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 172.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 158.42 Td (Amortization charged to income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.80 158.47 Td (\(33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 158.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.80 158.47 Td (\(34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 158.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 158.42 Td (\(17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 158.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 144.42 Td (Amortization charged to business dispositions [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.80 144.47 Td (\(71) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 144.42 Td (\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 513.15 144.08 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 569.15 144.08 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 130.58 Td (Balance, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.50 130.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 450.15 130.58 Td (149) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 130.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.15 130.58 Td (325) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 130.58 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 130.58 Td (434) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 111.60 Td ([1] Includes Unlock char) Tj ET Q q 0 0 0 rg BT 124.65 111.60 Td (ge of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 144.64 111.60 Td ($52) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 158.14 111.60 Td ( in the first quarter of 2013 r) Tj ET Q q 0 0 0 rg BT 261.56 111.60 Td (elated to elimination of futur) Tj ET Q q 0 0 0 rg BT 364.72 111.60 Td (e estimated gr) Tj ET Q q 0 0 0 rg BT 415.38 111.60 Td (oss pr) Tj ET Q q 0 0 0 rg BT 436.80 111.60 Td (ofits on the Japan variable annuity ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 100.75 Td (block due to the incr) Tj ET Q q 0 0 0 rg BT 123.14 100.75 Td (eased costs associated with expanding Japan variable annuity hedging pr) Tj ET Q q 0 0 0 rg BT 388.52 100.75 Td (ogram.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 84.95 Td ([2] Repr) Tj ET Q q 0 0 0 rg BT 64.67 84.95 Td (esents accelerated amortization of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 190.64 84.95 Td ($22) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 204.14 84.95 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 222.14 84.95 Td ($49) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 235.64 84.95 Td ( in the first quarter of 2013 r) Tj ET Q q 0 0 0 rg BT 339.06 84.95 Td (ecognized upon the sale of the Retir) Tj ET Q q 0 0 0 rg BT 467.70 84.95 Td (ement Plans and Individual ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 74.20 Td (Life businesses, r) Tj ET Q q 0 0 0 rg BT 111.42 74.20 Td (espectively) Tj ET Q q 0 0 0 rg BT 150.39 74.20 Td (. For further information, see Note ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 280.14 74.20 Td (2) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 284.64 74.20 Td ( - ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 292.14 74.20 Td (Business Dispositions) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 370.89 74.20 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 411 0 obj <> endobj 412 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-69) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (1) Tj ET Q q 0 0 0 rg BT 36.39 712.60 Td (1) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 41.89 712.60 Td (. ) Tj ET Q q 0 0 0 rg BT 47.39 712.60 Td ( ) Tj ET Q q 0 0 0 rg BT 50.14 712.60 Td (Separate ) Tj ET Q q 0 0 0 rg BT 93.83 712.60 Td (Accounts, ) Tj ET Q q 0 0 0 rg BT 142.72 712.60 Td (Death ) Tj ET Q q 0 0 0 rg BT 173.58 712.60 Td (Benefits ) Tj ET Q q 0 0 0 rg BT 214.21 712.60 Td (and ) Tj ET Q q 0 0 0 rg BT 234.69 712.60 Td (Other) Tj ET Q q 0 0 0 rg BT 262.60 712.60 Td ( ) Tj ET Q q 0 0 0 rg BT 265.35 712.60 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 315.16 712.60 Td (Benefit ) Tj ET Q q 0 0 0 rg BT 351.51 712.60 Td (Featur) Tj ET Q q 0 0 0 rg BT 383.08 712.60 Td (es) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 694.60 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 51.78 694.60 Td (GMDB, ) Tj ET Q q 0 0 0 rg BT 87.89 694.60 Td (International ) Tj ET Q q 0 0 0 rg BT 147.06 694.60 Td (GMDB/GMIB, ) Tj ET Q q 0 0 0 rg BT 213.73 694.60 Td (and ) Tj ET Q q 0 0 0 rg BT 232.35 694.60 Td (UL) Tj ET Q q 0 0 0 rg BT 245.69 694.60 Td ( ) Tj ET Q q 0 0 0 rg BT 248.19 694.60 Td (Secondary ) Tj ET Q q 0 0 0 rg BT 295.69 694.60 Td (Guarantee ) Tj ET Q q 0 0 0 rg BT 343.74 694.60 Td (Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 679.60 Td (Changes ) Tj ET Q q 0 0 0 rg BT 68.44 679.60 Td (in ) Tj ET Q q 0 0 0 rg BT 78.72 679.60 Td (the ) Tj ET Q q 0 0 0 rg BT 93.43 679.60 Td (gross ) Tj ET Q q 0 0 0 rg BT 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10.00 Tf ET q 0 0 0 rg BT 392.15 387.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.80 387.72 Td (\(103) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 387.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.15 387.72 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 375.83 Td (Liability balance as of December 31, 2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 331.50 375.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 387.15 375.83 Td (918) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.50 375.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 464.15 375.83 Td (661) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 485.50 375.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 541.15 375.83 Td (363) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 363.83 Td (Reinsurance recoverable asset, as of January 1, 2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 331.50 363.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 387.15 363.83 Td (724) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.50 363.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.15 363.83 Td (40) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 485.50 363.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.15 363.83 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 351.72 Td (Incurred) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.15 351.72 Td (121) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.15 351.72 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 547.80 351.72 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 351.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 339.72 Td (Paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.80 339.72 Td (\(121) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.15 339.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.80 339.72 Td (\(27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 339.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.15 339.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 327.72 Td (Unlock) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.80 327.72 Td (\(116) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.15 327.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.15 327.72 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.15 327.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 315.72 Td (Currency translation adjustment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.15 315.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.80 315.72 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.15 315.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.15 315.72 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 303.83 Td (Reinsurance recoverable asset, as of December 31, 2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 331.50 303.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 387.15 303.83 Td (608) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.50 303.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.15 303.83 Td (36) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 485.50 303.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.15 303.83 Td (21) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 413 0 obj <> endobj 414 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The following table provides details concerning GMDB and GMIB exposure as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.65 713.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.23 713.10 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 651.60 240.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 651.60 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.00 651.60 76.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 651.60 72.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 651.60 73.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 627.60 240.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 627.60 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.00 627.60 76.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 627.60 72.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 627.60 73.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 603.60 240.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 603.60 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.00 603.60 76.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 603.60 72.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 603.60 73.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 579.60 240.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 579.60 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.00 579.60 76.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 579.60 72.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 579.60 73.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 553.60 240.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 553.60 65.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.00 553.60 76.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 553.60 72.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 553.60 73.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 531.60 240.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 531.60 65.00 -11.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 337.00 531.60 76.00 -11.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 413.00 531.60 72.00 -11.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 485.00 531.60 73.00 -11.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 337.00 520.60 76.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 413.00 520.60 72.00 -12.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 485.00 520.60 73.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 508.60 240.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 508.60 65.00 -11.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 337.00 508.60 76.00 -11.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 413.00 508.60 72.00 -11.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 485.00 508.60 73.00 -11.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 337.00 497.60 76.00 -13.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 413.00 497.60 72.00 -13.00 re f /GS0 gs 0.6 0.6 0.6 rg /GS0 gs 485.00 497.60 73.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 484.60 240.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 272.00 484.60 65.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 337.00 484.60 76.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 484.60 72.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 484.60 73.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 689.6 m 272 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 689.6 m 337 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 689.6 m 413 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 689.6 m 485 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 689.6 m 558 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 689.6 m 272 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 651.6 m 272 651.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 651.6 m 337 651.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 651.6 m 413 651.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 651.6 m 485 651.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 689.6 m 558 689.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 651.6 m 558 651.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 651.6 m 272 651.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 603.6 m 272 603.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272 603.6 m 337 603.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 337 603.6 m 413 603.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 603.6 m 485 603.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 603.6 m 558 603.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 542.6 m 272 542.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272 542.6 m 337 542.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 337 542.6 m 413 542.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 542.6 m 485 542.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 542.6 m 558 542.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 337 520.6 m 413 520.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 520.6 m 485 520.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 520.6 m 558 520.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 520.6 m 272 520.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272 520.6 m 337 520.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 337 497.6 m 413 497.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 497.6 m 485 497.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 497.6 m 558 497.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 497.6 m 272 497.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 484.6 m 272 484.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 272 497.6 m 337 497.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 484.6 m 337 484.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 484.6 m 413 484.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 484.6 m 485 484.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 484.6 m 558 484.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 460.6 m 272 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 272 460.6 m 337 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337 460.6 m 413 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 460.6 m 485 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 460.6 m 558 460.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 166.50 694.00 Td (Individual Variable Annuity Account Value by GMDB/GMIB Type) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 656.05 Td (Maximum anniversary value \(MAV\) [1]) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 289.75 671.83 Td (Account) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 294.35 663.83 Td (V) Tj ET Q q 0 0 0 rg BT 299.39 663.83 Td (alue) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 286.40 655.83 Td (\(A) Tj ET Q q 0 0 0 rg BT 297.81 655.83 Td (V\) [8]) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 353.70 671.83 Td (Net) Tj ET Q q 0 0 0 rg BT 367.25 671.83 Td (Amount) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 362.35 663.83 Td (at Risk) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 351.50 655.83 Td (\(NAR\)[10]) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 426.15 679.83 Td (RetainedNet) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 434.45 671.83 Td (Amount) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 436.35 663.83 Td (at Risk) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 422.60 655.83 Td (\(RNAR\)[10]) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 490.05 671.83 Td (W) Tj ET Q q 0 0 0 rg BT 497.61 671.83 Td (eighted) Tj ET Q q 0 0 0 rg BT 524.05 671.83 Td (A) Tj ET Q q 0 0 0 rg BT 529.24 671.83 Td (verage) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 494.30 663.83 Td (Attained ) Tj ET Q q 0 0 0 rg BT 525.64 663.83 Td (Age of) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 503.40 655.83 Td (Annuitant) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 642.22 Td (MAV only) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.50 642.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 642.22 Td (19,638) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.50 642.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.65 642.22 Td (2,914) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 642.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 642.22 Td (519) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 642.22 Td (69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 630.22 Td (With 5% rollup [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.65 630.22 Td (1,610) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 630.22 Td (232) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 630.22 Td (64) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 630.22 Td (69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 618.22 Td (With Earnings Protection Benefit Rider \(EPB\) [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.65 618.22 Td (4,862) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 618.22 Td (629) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 618.22 Td (86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 618.22 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 606.22 Td (With 5% rollup& EPB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.15 606.22 Td (588) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 606.22 Td (119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 606.22 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 606.22 Td (70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 594.22 Td (Total MAV) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 594.22 Td (26,698) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.65 594.22 Td (3,894) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 594.22 Td (695) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 582.22 Td (Asset Protection Benefit \(APB\) [4]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 582.22 Td (18,579) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 582.22 Td (277) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 582.22 Td (186) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 582.22 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 570.17 Td (Lifetime Income Benefit \(LIB\) Death Benefit [5]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.15 570.17 Td (773) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.15 570.17 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 570.17 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 570.17 Td (66) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 557.17 Td (Reset [6] \(5-7 years\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.65 557.17 Td (3,286) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 557.17 Td (74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 557.17 Td (74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 557.17 Td (69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 544.22 Td (Return of Premium \(ROP\) [7]/Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 544.22 Td (12,476) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.15 544.22 Td (71) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 544.22 Td (62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.50 544.22 Td (67) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 533.38 Td (Subtotal U.S. GMDB) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.65 533.38 Td (61,812) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 386.65 533.38 Td (4,325) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.65 533.38 Td (1,026) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.50 533.38 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 522.22 Td (Less: General Account Value with U.S. GMDB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.65 522.22 Td (4,349) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 511.33 Td (Subtotal Separate Account Liabilities with GMDB) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.65 511.33 Td (57,463) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 499.22 Td (Separate Account Liabilities without U.S. GMDB) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.65 499.22 Td (83,423) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 488.33 Td (Total Separate Account Liabilities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.50 488.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 300.65 488.33 Td (140,886) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.50 488.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 475.38 Td (Japan GMDB [9], [11]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.50 475.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.65 475.38 Td (20,130) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 339.50 475.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 394.15 475.38 Td (779) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.50 475.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 466.15 475.38 Td (552) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.50 475.38 Td (71) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 464.33 Td (Japan GMIB [9], [11]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 274.50 464.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 305.65 464.33 Td (18,483) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 339.50 464.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 394.15 464.33 Td (128) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.50 464.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 466.15 464.33 Td (128) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 544.50 464.33 Td (71) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 450.30 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 450.30 Td (MA) Tj ET Q q 0 0 0 rg BT 80.05 450.30 Td (V) Tj ET Q q 0 0 0 rg BT 85.38 450.30 Td ( GMDB is the gr) Tj ET Q q 0 0 0 rg BT 145.04 450.30 Td (eatest of curr) Tj ET Q q 0 0 0 rg BT 192.70 450.30 Td (ent ) Tj ET Q q 0 0 0 rg BT 205.78 450.30 Td (A) Tj ET Q q 0 0 0 rg BT 210.83 450.30 Td (V) Tj ET Q q 0 0 0 rg BT 215.17 450.30 Td (, net pr) Tj ET Q q 0 0 0 rg BT 240.58 450.30 Td (emiums paid and the highest ) Tj ET Q q 0 0 0 rg BT 345.66 450.30 Td (A) Tj ET Q q 0 0 0 rg BT 350.71 450.30 Td (V) Tj ET Q q 0 0 0 rg BT 356.04 450.30 Td ( on any anniversary befor) Tj ET Q q 0 0 0 rg BT 448.69 450.30 Td (e age ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 470.18 450.30 Td (80 years) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 500.93 450.30 Td ( \(adjusted for ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 439.50 Td (withdrawals\).) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 428.70 Td ([2] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 428.70 Td (Rollup GMDB is the gr) Tj ET Q q 0 0 0 rg BT 151.16 428.70 Td (eatest of the MA) Tj ET Q q 0 0 0 rg BT 209.44 428.70 Td (V) Tj ET Q q 0 0 0 rg BT 213.78 428.70 Td (, curr) Tj ET Q q 0 0 0 rg BT 233.45 428.70 Td (ent ) Tj ET Q q 0 0 0 rg BT 246.53 428.70 Td (A) Tj ET Q q 0 0 0 rg BT 251.58 428.70 Td (V) Tj ET Q q 0 0 0 rg BT 255.92 428.70 Td (, net pr) Tj ET Q q 0 0 0 rg BT 281.33 428.70 Td (emium paid and pr) Tj ET Q q 0 0 0 rg BT 349.24 428.70 Td (emiums \(adjusted for withdrawals\) accumulated at generally ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 417.90 Td (5%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 79.50 417.90 Td ( simple inter) Tj ET Q q 0 0 0 rg BT 124.16 417.90 Td (est up to the earlier of age ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 221.39 417.90 Td (80) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 230.39 417.90 Td ( years or ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 264.64 417.90 Td (100%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 285.64 417.90 Td ( of adjusted pr) Tj ET Q q 0 0 0 rg BT 337.55 417.90 Td (emiums.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 407.10 Td ([3] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 407.10 Td (EPB GMDB is the gr) Tj ET Q q 0 0 0 rg BT 143.65 407.10 Td (eatest of the MA) Tj ET Q q 0 0 0 rg BT 201.94 407.10 Td (V) Tj ET Q q 0 0 0 rg BT 206.27 407.10 Td (, curr) Tj ET Q q 0 0 0 rg BT 225.94 407.10 Td (ent ) Tj ET Q q 0 0 0 rg BT 239.02 407.10 Td (A) Tj ET Q q 0 0 0 rg BT 244.07 407.10 Td (V) Tj ET Q q 0 0 0 rg BT 248.41 407.10 Td (, or contract value plus a per) Tj ET Q q 0 0 0 rg BT 352.81 407.10 Td (centage of the contract) Tj ET Q q 0 0 0 rg BT 437.37 407.10 Td (s gr) Tj ET Q q 0 0 0 rg BT 450.79 407.10 Td (owth. The contract) Tj ET Q q 0 0 0 rg BT 520.37 407.10 Td (s gr) Tj ET Q q 0 0 0 rg BT 533.79 407.10 Td (owth is ) Tj ET Q q 0 0 0 rg BT 561.64 407.10 Td (A) Tj ET Q q 0 0 0 rg BT 566.69 407.10 Td (V) Tj ET Q q 0 0 0 rg BT 572.02 407.10 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 396.30 Td (less pr) Tj ET Q q 0 0 0 rg BT 90.92 396.30 Td (emiums net of withdrawals, subject to a cap of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 260.41 396.30 Td (200%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 281.41 396.30 Td ( of pr) Tj ET Q q 0 0 0 rg BT 300.58 396.30 Td (emiums net of withdrawals.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 385.50 Td ([4] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 385.50 Td (APB GMDB is the gr) Tj ET Q q 0 0 0 rg BT 143.65 385.50 Td (eater of curr) Tj ET Q q 0 0 0 rg BT 188.81 385.50 Td (ent ) Tj ET Q q 0 0 0 rg BT 201.89 385.50 Td (A) Tj ET Q q 0 0 0 rg BT 206.94 385.50 Td (V) Tj ET Q q 0 0 0 rg BT 212.28 385.50 Td ( or MA) Tj ET Q q 0 0 0 rg BT 237.33 385.50 Td (V) Tj ET Q q 0 0 0 rg BT 241.66 385.50 Td (, not to exceed curr) Tj ET Q q 0 0 0 rg BT 311.05 385.50 Td (ent ) Tj ET Q q 0 0 0 rg BT 324.14 385.50 Td (A) Tj ET Q q 0 0 0 rg BT 329.19 385.50 Td (V) Tj ET Q q 0 0 0 rg BT 334.52 385.50 Td ( plus ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 354.02 385.50 Td (25%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 370.52 385.50 Td ( times the gr) Tj ET Q q 0 0 0 rg BT 414.93 385.50 Td (eater of net pr) Tj ET Q q 0 0 0 rg BT 465.84 385.50 Td (emiums and MA) Tj ET Q q 0 0 0 rg BT 523.88 385.50 Td (V) Tj ET Q q 0 0 0 rg BT 529.22 385.50 Td ( \(each ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 374.70 Td (adjusted for pr) Tj ET Q q 0 0 0 rg BT 120.67 374.70 Td (emiums in the past ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 190.16 374.70 Td (12 months) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 227.42 374.70 Td (\).) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 363.90 Td ([5] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 363.90 Td (LIB GMDB is the gr) Tj ET Q q 0 0 0 rg BT 140.66 363.90 Td (eatest of curr) Tj ET Q q 0 0 0 rg BT 188.32 363.90 Td (ent ) Tj ET Q q 0 0 0 rg BT 201.40 363.90 Td (A) Tj ET Q q 0 0 0 rg BT 206.45 363.90 Td (V) Tj ET Q q 0 0 0 rg BT 210.79 363.90 Td (, net pr) Tj ET Q q 0 0 0 rg BT 236.20 363.90 Td (emiums paid, or for certain contracts a benefit amount that ratchets over time, generally based ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 353.10 Td (on market performance.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 342.30 Td ([6] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 342.30 Td (Reset GMDB is the gr) Tj ET Q q 0 0 0 rg BT 146.65 342.30 Td (eatest of curr) Tj ET Q q 0 0 0 rg BT 194.31 342.30 Td (ent ) Tj ET Q q 0 0 0 rg BT 207.39 342.30 Td (A) Tj ET Q q 0 0 0 rg BT 212.44 342.30 Td (V) Tj ET Q q 0 0 0 rg BT 216.78 342.30 Td (, net pr) Tj ET Q q 0 0 0 rg BT 242.19 342.30 Td (emiums paid and the most r) Tj ET Q q 0 0 0 rg BT 341.60 342.30 Td (ecent ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 362.84 342.30 Td (five) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 375.83 342.30 Td ( to ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 387.33 342.30 Td (seven) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 407.32 342.30 Td ( year anniversary ) Tj ET Q q 0 0 0 rg BT 472.89 342.30 Td (A) Tj ET Q q 0 0 0 rg BT 477.94 342.30 Td (V) Tj ET Q q 0 0 0 rg BT 483.27 342.30 Td ( befor) Tj ET Q q 0 0 0 rg BT 504.18 342.30 Td (e age ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 525.67 342.30 Td (80 years) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 556.42 342.30 Td ( ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 331.50 Td (\(adjusted for withdrawals\).) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 320.70 Td ([7] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 320.70 Td (ROP) Tj ET Q q 0 0 0 rg BT 84.83 320.70 Td ( GMDB is the gr) Tj ET Q q 0 0 0 rg BT 144.49 320.70 Td (eater of curr) Tj ET Q q 0 0 0 rg BT 189.65 320.70 Td (ent ) Tj ET Q q 0 0 0 rg BT 202.73 320.70 Td (A) Tj ET Q q 0 0 0 rg BT 207.78 320.70 Td (V) Tj ET Q q 0 0 0 rg BT 213.12 320.70 Td ( or net pr) Tj ET Q q 0 0 0 rg BT 246.53 320.70 Td (emiums paid.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 309.90 Td ([8] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 309.90 Td (A) Tj ET Q q 0 0 0 rg BT 72.55 309.90 Td (V) Tj ET Q q 0 0 0 rg BT 77.88 309.90 Td ( includes the contract holder) Tj ET Q q 0 0 0 rg BT 181.70 309.90 Td () Tj ET Q q 0 0 0 rg BT 183.53 309.90 Td (s investment in the separate account and the general account.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 299.10 Td ([9] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 299.10 Td (GMDB includes a ROP) Tj ET Q q 0 0 0 rg BT 152.07 299.10 Td ( and MA) Tj ET Q q 0 0 0 rg BT 182.61 299.10 Td (V) Tj ET Q q 0 0 0 rg BT 187.95 299.10 Td ( \(befor) Tj ET Q q 0 0 0 rg BT 211.86 299.10 Td (e age ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 233.35 299.10 Td (80 years) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 264.09 299.10 Td (\) paid in a single lump sum. GMIB is a guarantee to r) Tj ET Q q 0 0 0 rg BT 457.50 299.10 Td (eturn initial investment, adjusted ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 288.30 Td (for earnings liquidity which allows for fr) Tj ET Q q 0 0 0 rg BT 214.18 288.30 Td (ee withdrawal of earnings, paid thr) Tj ET Q q 0 0 0 rg BT 341.35 288.30 Td (ough a fixed payout annuity) Tj ET Q q 0 0 0 rg BT 441.33 288.30 Td (, after a minimum deferral period of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 277.50 Td (10 years) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 98.24 277.50 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 102.74 277.50 Td (15 years) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 133.49 277.50 Td ( or ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 148.24 277.50 Td (20 years) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 178.98 277.50 Td (. The GRB r) Tj ET Q q 0 0 0 rg BT 222.15 277.50 Td (elated to the Japan GMIB was ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 334.13 277.50 Td ($16.8 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 380.13 277.50 Td ( as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 401.88 277.50 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 472.61 277.50 Td (. The GRB r) Tj ET Q q 0 0 0 rg BT 515.77 277.50 Td (elated to the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 266.70 Td (Japan GMAB and GMWB was $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 184.73 266.70 Td (365) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 198.23 266.70 Td ( as of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 219.99 266.70 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 290.72 266.70 Td (. These liabilities ar) Tj ET Q q 0 0 0 rg BT 362.38 266.70 Td (e not included in the Separate ) Tj ET Q q 0 0 0 rg BT 472.19 266.70 Td (Account as they ar) Tj ET Q q 0 0 0 rg BT 539.09 266.70 Td (e not ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 255.90 Td (legally insulated fr) Tj ET Q q 0 0 0 rg BT 135.16 255.90 Td (om the general account liabilities of the insurance enterprise. ) Tj ET Q q 0 0 0 rg BT 359.46 255.90 Td (As of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 379.96 255.90 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 450.69 255.90 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 455.19 255.90 Td (30%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 471.68 255.90 Td ( of the GMDB RNAR and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 245.10 Td (80%) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 84.00 245.10 Td ( of the GMIB NAR is r) Tj ET Q q 0 0 0 rg BT 164.15 245.10 Td (einsur) Tj ET Q q 0 0 0 rg BT 186.32 245.10 Td (ed to a Hartfor) Tj ET Q q 0 0 0 rg BT 240.24 245.10 Td (d affiliate; as a r) Tj ET Q q 0 0 0 rg BT 300.40 245.10 Td (esult, the effects of the r) Tj ET Q q 0 0 0 rg BT 386.05 245.10 Td (einsurance ar) Tj ET Q q 0 0 0 rg BT 435.45 245.10 Td (e not r) Tj ET Q q 0 0 0 rg BT 458.62 245.10 Td (eflected in this disclosur) Tj ET Q q 0 0 0 rg BT 546.02 245.10 Td (e.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 234.30 Td ([10] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 234.30 Td (NAR is defined as the guaranteed benefit in excess of the curr) Tj ET Q q 0 0 0 rg BT 289.37 234.30 Td (ent ) Tj ET Q q 0 0 0 rg BT 302.45 234.30 Td (A) Tj ET Q q 0 0 0 rg BT 307.50 234.30 Td (V) Tj ET Q q 0 0 0 rg BT 311.84 234.30 Td (. RNAR r) Tj ET Q q 0 0 0 rg BT 344.25 234.30 Td (epr) Tj ET Q q 0 0 0 rg BT 355.91 234.30 Td (esents NAR r) Tj ET Q q 0 0 0 rg BT 402.57 234.30 Td (educed for r) Tj ET Q q 0 0 0 rg BT 446.23 234.30 Td (einsurance. NAR and RNAR ar) Tj ET Q q 0 0 0 rg BT 557.63 234.30 Td (e ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 223.50 Td (highly sensitive to equity markets movements and incr) Tj ET Q q 0 0 0 rg BT 261.87 223.50 Td (ease when equity markets decline. ) Tj ET Q q 0 0 0 rg BT 386.67 223.50 Td (Additionally Japan) Tj ET Q q 0 0 0 rg BT 457.24 223.50 Td (s NAR and RNAR ar) Tj ET Q q 0 0 0 rg BT 530.41 223.50 Td (e highly ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 212.70 Td (sensitive to curr) Tj ET Q q 0 0 0 rg BT 125.16 212.70 Td (ency movements and incr) Tj ET Q q 0 0 0 rg BT 216.04 212.70 Td (ease when the Y) Tj ET Q q 0 0 0 rg BT 272.95 212.70 Td (en str) Tj ET Q q 0 0 0 rg BT 292.87 212.70 Td (engthens.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 201.90 Td ([1) Tj ET Q q 0 0 0 rg BT 38.83 201.90 Td (1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 201.90 Td (Policies with a guaranteed living benefit \(GMIB in Japan\) also have a guaranteed death benefit. The NAR for each benefit is shown in the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 191.10 Td (table above, however these benefits ar) Tj ET Q q 0 0 0 rg BT 205.13 191.10 Td (e not additive. When a policy terminates due to death, any NAR r) Tj ET Q q 0 0 0 rg BT 439.24 191.10 Td (elated to GMWB or GMIB is r) Tj ET Q q 0 0 0 rg BT 548.39 191.10 Td (eleased. ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 180.30 Td (Similarly) Tj ET Q q 0 0 0 rg BT 100.00 180.30 Td (, when a policy goes into benefit status on a GMWB or GMIB, its GMDB NAR is r) Tj ET Q q 0 0 0 rg BT 395.89 180.30 Td (eleased.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 166.30 Td (In ) Tj ET Q q 0 0 0 rg BT 42.33 166.30 Td (the ) Tj ET Q q 0 0 0 rg BT 57.05 166.30 Td (U.S., ) Tj ET Q q 0 0 0 rg BT 79.83 166.30 Td (account ) Tj ET Q q 0 0 0 rg BT 113.42 166.30 Td (balances ) Tj ET Q q 0 0 0 rg BT 150.35 166.30 Td ( ) Tj ET Q q 0 0 0 rg BT 152.85 166.30 Td (of ) Tj ET Q q 0 0 0 rg BT 163.68 166.30 Td (contracts ) Tj ET Q q 0 0 0 rg BT 202.27 166.30 Td (with ) Tj ET Q q 0 0 0 rg BT 222.55 166.30 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 267.80 166.30 Td (were ) Tj ET Q q 0 0 0 rg BT 289.73 166.30 Td (invested ) Tj ET Q q 0 0 0 rg BT 325.56 166.30 Td (in ) Tj ET Q q 0 0 0 rg BT 335.84 166.30 Td (variable ) Tj ET Q q 0 0 0 rg BT 370.54 166.30 Td (separate ) Tj ET Q q 0 0 0 rg BT 405.79 166.30 Td (accounts ) Tj ET Q q 0 0 0 rg BT 443.28 166.30 Td (as ) Tj ET Q q 0 0 0 rg BT 454.11 166.30 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 140.80 288.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 140.80 112.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 140.80 112.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 115.80 288.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 115.80 112.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 432.00 115.80 112.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 140.79999999999995 m 320 140.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320 140.79999999999995 m 432 140.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432 140.79999999999995 m 544 140.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 115.79999999999995 m 320 115.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 103.79999999999995 m 320 103.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320 115.79999999999995 m 432 115.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 103.79999999999995 m 432 103.79999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 432 115.79999999999995 m 544 115.79999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 103.79999999999995 m 544 103.79999999999995 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 145.20 Td (Asset type) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 328.20 145.20 Td (As of December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.20 145.20 Td (As of December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 131.37 Td (Equity securities \(including mutual funds\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.50 131.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.65 131.37 Td (52,858) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.50 131.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.65 131.37 Td (58,208) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 118.42 Td (Cash and cash equivalents) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.65 118.42 Td (4,605) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.65 118.42 Td (6,940) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 106.53 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.50 106.53 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 400.65 106.53 Td (57,463) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.50 106.53 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.65 106.53 Td (65,148) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 90.30 Td (As ) Tj ET Q q 0 0 0 rg BT 44.78 90.30 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.28 90.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 113.53 90.30 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 133.53 90.30 Td ( ) Tj ET Q q 0 0 0 rg BT 135.70 90.30 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 152.30 90.30 Td (December31, ) Tj ET Q q 0 0 0 rg BT 210.55 90.30 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 230.55 90.30 Td (, ) Tj ET Q q 0 0 0 rg BT 235.22 90.30 Td (approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.14 90.30 Td (17%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.47 90.30 Td ( ) Tj ET Q q 0 0 0 rg BT 315.64 90.30 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.25 90.30 Td (16%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.58 90.30 Td (, ) Tj ET Q q 0 0 0 rg BT 355.24 90.30 Td (respectively) Tj ET Q q 0 0 0 rg BT 402.91 90.30 Td (, ) Tj ET Q q 0 0 0 rg BT 407.57 90.30 Td (of ) Tj ET Q q 0 0 0 rg BT 418.07 90.30 Td (the ) Tj ET Q q 0 0 0 rg BT 432.45 90.30 Td (equity ) Tj ET Q q 0 0 0 rg BT 459.62 90.30 Td (securities ) Tj ET Q q 0 0 0 rg BT 499.55 90.30 Td (above ) Tj ET Q q 0 0 0 rg BT 525.59 90.30 Td (were ) Tj ET Q q 0 0 0 rg BT 547.19 90.30 Td (invested ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 78.30 Td (in ) Tj ET Q q 0 0 0 rg BT 42.01 78.30 Td (fixed ) Tj ET Q q 0 0 0 rg BT 65.30 78.30 Td (income ) Tj ET Q q 0 0 0 rg BT 97.47 78.30 Td (securities ) Tj ET Q q 0 0 0 rg BT 137.97 78.30 Td (through ) Tj ET Q q 0 0 0 rg BT 171.81 78.30 Td (these ) Tj ET Q q 0 0 0 rg BT 195.09 78.30 Td (funds ) Tj ET Q q 0 0 0 rg BT 220.05 78.30 Td (and ) Tj ET Q q 0 0 0 rg BT 237.22 78.30 Td (approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.72 78.30 Td (83%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.05 78.30 Td ( ) Tj ET Q q 0 0 0 rg BT 318.79 78.30 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.96 78.30 Td (84%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.29 78.30 Td (, ) Tj ET Q q 0 0 0 rg BT 359.53 78.30 Td (respectively) Tj ET Q q 0 0 0 rg BT 407.19 78.30 Td (, ) Tj ET Q q 0 0 0 rg BT 412.42 78.30 Td (were ) Tj ET Q q 0 0 0 rg BT 434.59 78.30 Td (invested ) Tj ET Q q 0 0 0 rg BT 470.65 78.30 Td (in ) Tj ET Q q 0 0 0 rg BT 481.16 78.30 Td (equity ) Tj ET Q q 0 0 0 rg BT 508.89 78.30 Td (securities ) Tj ET Q q 0 0 0 rg BT 549.39 78.30 Td (through ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 66.30 Td (these ) Tj ET Q q 0 0 0 rg BT 54.55 66.30 Td (funds.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 52.30 Td (For ) Tj ET Q q 0 0 0 rg BT 49.33 52.30 Td (further ) Tj ET Q q 0 0 0 rg BT 80.48 52.30 Td (information ) Tj ET Q q 0 0 0 rg BT 131.63 52.30 Td (on ) Tj ET Q q 0 0 0 rg BT 145.57 52.30 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 193.37 52.30 Td (living ) Tj ET Q q 0 0 0 rg BT 220.65 52.30 Td (benefits ) Tj ET Q q 0 0 0 rg BT 256.24 52.30 Td (that ) Tj ET Q q 0 0 0 rg BT 275.18 52.30 Td (are ) Tj ET Q q 0 0 0 rg BT 291.32 52.30 Td (accounted ) Tj ET Q q 0 0 0 rg BT 335.80 52.30 Td (for ) Tj ET Q q 0 0 0 rg BT 351.40 52.30 Td (at ) Tj ET Q q 0 0 0 rg BT 362.55 52.30 Td (fair ) Tj ET Q q 0 0 0 rg BT 380.37 52.30 Td (value, ) Tj ET Q q 0 0 0 rg BT 408.47 52.30 Td (such ) Tj ET Q q 0 0 0 rg BT 430.74 52.30 Td (as ) Tj ET Q q 0 0 0 rg BT 443.01 52.30 Td (GMWB, ) Tj ET Q q 0 0 0 rg BT 481.67 52.30 Td (see ) Tj ET Q q 0 0 0 rg BT 498.38 52.30 Td (Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.75 52.30 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.75 52.30 Td ( ) Tj ET Q q 0 0 0 rg BT 530.69 52.30 Td (- ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.96 52.30 Td (Fair ) Tj ET Q q 0 0 0 rg BT 557.73 52.30 Td (V) Tj ET Q q 0 0 0 rg BT 563.84 52.30 Td (alue ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 40.30 Td (Measurements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.82 40.30 Td ( ) Tj ET Q q 0 0 0 rg BT 92.32 40.30 Td (of ) Tj ET Q q 0 0 0 rg BT 103.15 40.30 Td (Notes ) Tj ET Q q 0 0 0 rg BT 128.98 40.30 Td (to ) Tj ET Q q 0 0 0 rg BT 139.25 40.30 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 194.53 40.30 Td (Financial ) Tj ET Q q 0 0 0 rg BT 234.24 40.30 Td (Statements.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 1 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (1) Tj ET Q q 0 0 0 rg BT 36.89 731.80 Td (1. Separate ) Tj ET Q q 0 0 0 rg BT 91.58 731.80 Td (Accounts, Death Benefits and Other) Tj ET Q q 0 0 0 rg BT 260.35 731.80 Td ( Insurance Benefit Featur) Tj ET Q q 0 0 0 rg BT 380.83 731.80 Td (es \(continued\)) Tj ET Q endstream endobj 415 0 obj <> endobj 416 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-71) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (12) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 42.50 712.60 Td (. ) Tj ET Q q 0 0 0 rg BT 48.00 712.60 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 92.28 712.60 Td (for) Tj ET Q q 0 0 0 rg BT 106.13 712.60 Td ( ) Tj ET Q q 0 0 0 rg BT 108.88 712.60 Td (Futur) Tj ET Q q 0 0 0 rg BT 136.18 712.60 Td (e ) Tj ET Q q 0 0 0 rg BT 143.81 712.60 Td (Policy ) Tj ET Q q 0 0 0 rg BT 175.28 712.60 Td (Benefits ) Tj ET Q q 0 0 0 rg BT 215.91 712.60 Td (and ) Tj ET Q q 0 0 0 rg BT 236.40 712.60 Td (Unpaid ) Tj ET Q q 0 0 0 rg BT 274.00 712.60 Td (Losses ) Tj ET Q q 0 0 0 rg BT 307.31 712.60 Td (and ) Tj ET Q q 0 0 0 rg BT 327.80 712.60 Td (Loss ) Tj ET Q q 0 0 0 rg BT 351.34 712.60 Td (Adjustment ) Tj ET Q q 0 0 0 rg BT 409.70 712.60 Td (Expenses ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 695.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 41.87 695.60 Td (operty ) Tj ET Q q 0 0 0 rg BT 72.13 695.60 Td (and ) Tj ET Q q 0 0 0 rg BT 90.76 695.60 Td (Casualty ) Tj ET Q q 0 0 0 rg BT 131.04 695.60 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 176.32 695.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 186.69 695.60 Td (oducts ) Tj ET Q q 0 0 0 rg BT 216.97 695.60 Td (Unpaid ) Tj ET Q q 0 0 0 rg BT 251.16 695.60 Td (Losses ) Tj ET Q q 0 0 0 rg BT 281.44 695.60 Td (and ) Tj ET Q q 0 0 0 rg BT 300.06 695.60 Td (Loss ) Tj ET Q q 0 0 0 rg BT 321.47 695.60 Td (Adjustment ) Tj ET Q q 0 0 0 rg BT 374.52 695.60 Td (Expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.60 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 677.60 Td ( ) Tj ET Q q 0 0 0 rg BT 40.67 677.60 Td (rollforward ) Tj ET Q q 0 0 0 rg BT 88.71 677.60 Td (of ) Tj ET Q q 0 0 0 rg BT 99.54 677.60 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 139.25 677.60 Td (for ) Tj ET Q q 0 0 0 rg BT 153.41 677.60 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 183.13 677.60 Td (losses ) Tj ET Q q 0 0 0 rg BT 209.52 677.60 Td (and ) Tj ET Q q 0 0 0 rg BT 226.46 677.60 Td (loss ) Tj ET Q q 0 0 0 rg BT 244.52 677.60 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 290.90 677.60 Td (expenses ) Tj ET Q q 0 0 0 rg BT 329.50 677.60 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 637.10 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 637.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 637.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 637.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 611.10 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 611.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 611.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 611.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 585.10 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 585.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 585.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 585.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 559.10 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 559.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 559.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 559.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 533.10 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 533.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 533.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 533.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 507.10 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 507.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 507.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 507.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 481.10 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 481.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 481.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 481.10 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 649.1 m 466 649.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 649.1 m 522 649.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522 649.1 m 578 649.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 637.1 m 466 637.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 637.1 m 522 637.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522 637.1 m 578 637.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 637.1 m 466 637.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 611.1 m 410 611.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 598.1 m 410 598.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 611.1 m 466 611.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 598.1 m 466 598.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 611.1 m 522 611.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 598.1 m 522 598.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 611.1 m 578 611.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 598.1 m 578 598.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 559.1 m 410 559.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 546.1 m 410 546.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 559.1 m 466 559.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 546.1 m 466 546.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 559.1 m 522 559.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 546.1 m 522 546.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 559.1 m 578 559.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 546.1 m 578 546.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 507.1 m 466 507.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 507.1 m 522 507.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 507.1 m 578 507.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 507.1 m 410 507.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 494.1 m 410 494.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 494.1 m 466 494.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 494.1 m 522 494.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 494.1 m 578 494.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 468.1 m 410 468.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 455.1 m 410 455.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 468.1 m 466 468.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 455.1 m 466 455.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 468.1 m 522 468.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 455.1 m 522 455.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 468.1 m 578 468.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522 455.1 m 578 455.1 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.15 652.50 Td (For the years ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.50 640.50 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.50 640.50 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.70 640.50 Td (2011) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 627.83 Td (Beginning liabilities for unpaid losses and loss adjustment expenses, gross) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.50 627.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.65 627.83 Td (21,716) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.50 627.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.65 627.83 Td (21,550) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.50 627.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 627.83 Td (21,025) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 614.67 Td (Reinsurance and other recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.65 614.67 Td (3,027) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 614.67 Td (3,033) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.65 614.67 Td (3,077) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 601.83 Td (Beginning liabilities for unpaid losses and loss adjustment expenses, net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.65 601.83 Td (18,689) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.65 601.83 Td (18,517) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 601.83 Td (17,948) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 588.83 Td (Add provision for unpaid losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.50 588.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 588.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.50 588.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 575.67 Td (Current year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.65 575.67 Td (6,621) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 575.67 Td (7,274) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.65 575.67 Td (7,420) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 562.67 Td (Prior years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 562.67 Td (192) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.80 562.72 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 562.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 562.67 Td (367) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 549.83 Td (Total provision for unpaid losses and loss adjustment expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.65 549.83 Td (6,813) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.65 549.83 Td (7,270) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 551.65 549.83 Td (7,787) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 536.83 Td (Less payments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.50 536.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.50 536.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.50 536.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 523.67 Td (Current year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.65 523.67 Td (2,552) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 523.67 Td (2,882) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.65 523.67 Td (3,181) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 510.67 Td (Prior years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.65 510.67 Td (4,274) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 510.67 Td (4,216) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.65 510.67 Td (4,037) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 497.83 Td (Total payments) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.65 497.83 Td (6,826) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.65 497.83 Td (7,098) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 551.65 497.83 Td (7,218) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 484.83 Td (Ending liabilities for unpaid losses and loss adjustment expenses, net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.65 484.83 Td (18,676) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.65 484.83 Td (18,689) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 484.83 Td (18,517) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 471.67 Td (Reinsurance and other recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.65 471.67 Td (3,028) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 471.67 Td (3,027) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.65 471.67 Td (3,033) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 458.83 Td (Ending liabilities for unpaid losses and loss adjustment expenses, gross) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.50 458.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 434.65 458.83 Td (21,704) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.50 458.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.65 458.83 Td (21,716) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.50 458.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 546.65 458.83 Td (21,550) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.60 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 437.60 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.97 437.60 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.97 437.60 Td (, property and casualty insurance products reserves were discounted by a total of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.85 437.60 Td ($553) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.85 437.60 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 538.29 437.60 Td ($538) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.29 437.60 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 425.60 Td (. ) Tj ET Q q 0 0 0 rg BT 83.98 425.60 Td (The current accident year benefit from discounting property and casualty insurance products reserves was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.37 425.60 Td ($46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.37 425.60 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.15 425.60 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.15 425.60 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 425.60 Td ($48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 425.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.60 Td (in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 41.78 413.60 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.78 413.60 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 81.22 413.60 Td ($58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 96.22 413.60 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 109.00 413.60 Td (201) Tj ET Q q 0 0 0 rg BT 123.62 413.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 128.62 413.60 Td (. ) Tj ET Q q 0 0 0 rg BT 133.44 413.60 Td (The slight reduction in the discount benefit in 2013 as compared to 2012 reflects smaller claim volume in 2013 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.60 Td (partially of) Tj ET Q q 0 0 0 rg BT 75.47 401.60 Td (fset by a higher discount rate in 2013. ) Tj ET Q q 0 0 0 rg BT 228.86 401.60 Td (The reduction in discount benefit in 2012 as compared to 201) Tj ET Q q 0 0 0 rg BT 474.54 401.60 Td (1 is due to a reduction in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.60 Td (the discount rate, reflecting a lower risk-free rate of return over this period. ) Tj ET Q q 0 0 0 rg BT 333.88 389.60 Td (Accretion of discounts for prior accident years totaled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.13 389.60 Td ($31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.13 389.60 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.60 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 377.60 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 56.50 377.60 Td ($52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 377.60 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 84.28 377.60 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 104.28 377.60 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 126.22 377.60 Td ($38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.22 377.60 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.00 377.60 Td (201) Tj ET Q q 0 0 0 rg BT 168.62 377.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.62 377.60 Td (. For annuities issued by the Company to fund certain workers) Tj ET Q q 0 0 0 rg BT 425.33 377.60 Td ( compensation indemnity payments ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.60 Td (where the claimant has not released the Company of its obligation, the Company has recorded annuity obligations totaling ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.77 365.60 Td ($805) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.77 365.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.27 365.60 Td (as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.60 Td (December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 353.60 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.52 353.60 Td ($834) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.52 353.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 152.02 353.60 Td (as of December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 252.27 353.60 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.60 Td (In the opinion of management, based upon the known facts and current law) Tj ET Q q 0 0 0 rg BT 332.15 335.60 Td (, the reserves recorded for the Company) Tj ET Q q 0 0 0 rg BT 495.14 335.60 Td (s property and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.60 Td (casualty insurance products at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.23 323.60 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.82 323.60 Td ( represent the Company) Tj ET Q q 0 0 0 rg BT 330.85 323.60 Td (s best estimate of its ultimate liability for losses and loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.60 Td (adjustment expenses related to losses covered by policies written by the Company) Tj ET Q q 0 0 0 rg BT 359.38 311.60 Td (. However) Tj ET Q q 0 0 0 rg BT 400.63 311.60 Td (, because of the significant uncertainties ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.60 Td (surrounding reserves, and particularly asbestos and environmental exposures, it is possible that management) Tj ET Q q 0 0 0 rg BT 467.50 299.60 Td (s estimate of the ultimate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.60 Td (liabilities for these claims may change and that the required adjustment to recorded reserves could exceed the currently recorded reserves ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.60 Td (by an amount that could be material to the Company) Tj ET Q q 0 0 0 rg BT 244.50 275.60 Td (s results of operations or cash flows. For additional information, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.11 275.60 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.11 275.60 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.60 Td (Commitments and Contingencies) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.82 263.60 Td (, Guaranty Fund and Other Insurance-related ) Tj ET Q q 0 0 0 rg BT 346.14 263.60 Td (Assessments.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.60 Td (Losses and loss adjustment expenses are also impacted by trends, frequency and severity) Tj ET Q q 0 0 0 rg BT 386.03 245.60 Td (. Examples of current trends af) Tj ET Q q 0 0 0 rg BT 509.13 245.60 Td (fecting frequency ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.60 Td (and severity include increases in medical cost inflation rates, the changing use of medical care procedures, the introduction of new ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.60 Td (products and changes in internal claim practices. Other trends include changes in the legislative and regulatory environment over ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.60 Td (workers) Tj ET Q q 0 0 0 rg BT 66.30 209.60 Td ( compensation claims and evolving exposures to claims relating to molestation or abuse and other mass torts. In the case of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.60 Td (reserves for asbestos exposures, factors contributing to the high degree of uncertainty include inadequate loss development patterns, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.60 Td (plaintif) Tj ET Q q 0 0 0 rg BT 60.20 185.60 Td (fs) Tj ET Q q 0 0 0 rg BT 70.01 185.60 Td ( expanding theories of liability) Tj ET Q q 0 0 0 rg BT 192.11 185.60 Td (, the risks inherent in major litigation, and inconsistent emer) Tj ET Q q 0 0 0 rg BT 432.71 185.60 Td (ging legal doctrines. In the case of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.60 Td (the reserves for environmental exposures, factors contributing to the high degree of uncertainty include expanding theories of liabilities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.60 Td (and damages, the risks inherent in major litigation, inconsistent decisions concerning the existence and scope of coverage for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.60 Td (environmental claims, and uncertainty as to the monetary amount being sought by the claimant from the insured.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 417 0 obj <> endobj 418 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The following table presents \(favorable\) unfavorable prior accident years reserve development:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 674.60 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 674.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 674.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 674.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 646.60 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 646.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 646.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 646.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 618.60 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 618.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 618.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 618.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 590.60 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 590.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 590.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 590.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 562.60 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 562.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 562.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 562.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 534.60 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 534.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 534.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 534.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 506.60 378.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 506.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 506.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 506.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 478.60 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 478.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 478.60 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 478.60 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 687.6 m 466 687.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 687.6 m 522 687.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 687.6 m 578 687.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 674.6 m 410 674.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 674.6 m 466 674.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 674.6 m 522 674.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 674.6 m 578 674.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 674.6 m 410 674.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 674.6 m 466 674.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 674.6 m 522 674.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 674.6 m 578 674.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 465.6 m 410 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 453.6 m 410 453.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 465.6 m 466 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 453.6 m 466 453.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 465.6 m 522 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 453.6 m 522 453.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 465.6 m 578 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522 453.6 m 578 453.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 691.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.15 692.00 Td (For the years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 678.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.50 679.00 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.50 679.00 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.70 679.00 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 665.17 Td (Auto 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0 0 rg BT 34.50 637.17 Td (Professional liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.80 637.22 Td (\(29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 637.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 637.17 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 637.17 Td (29) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 623.17 Td (Package business) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 623.17 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.80 623.22 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 623.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.80 623.17 Td (\(76) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 623.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 609.17 Td (General liability) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.80 609.22 Td (\(75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 609.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.80 609.22 Td (\(87) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 609.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.80 609.17 Td (\(40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 609.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 595.17 Td (Fidelity and surety) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.80 595.22 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 595.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.80 595.22 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 595.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.80 595.17 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 595.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 581.17 Td (Commercial property) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.80 581.22 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 581.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.80 581.22 Td (\(8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 581.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.80 581.17 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 581.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 567.17 Td (Net asbestos reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 567.17 Td (130) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 567.17 Td (48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 567.17 Td (294) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 553.17 Td (Net environmental reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 553.17 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 553.17 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 553.17 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 539.17 Td (Uncollectible reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.80 539.22 Td (\(25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 539.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 539.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 539.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 525.17 Td (Workers compensation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.80 525.22 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 525.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 525.17 Td (78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.15 525.17 Td (171) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 511.17 Td (Workers compensation - NY 25a Fund for Reopened Cases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 511.17 Td (80) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 511.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 511.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 497.17 Td (Change in workers compensation discount, including accretion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 497.17 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 497.17 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 497.17 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 483.17 Td (Catastrophes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.80 483.22 Td (\(63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 483.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.80 483.22 Td (\(66) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 483.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 483.17 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 469.17 Td (Other reserve re-estimates, net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.50 469.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 469.17 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.50 469.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 469.17 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.50 469.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.80 469.17 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.15 469.17 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 456.33 Td (Total prior accident years development) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.50 456.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.15 456.33 Td (192) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.50 456.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 509.80 456.38 Td (\(4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 518.15 456.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.50 456.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.15 456.33 Td (367) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 48.44 437.10 Td (unfavorable ) Tj ET Q q 0 0 0 rg BT 98.69 437.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 130.06 437.10 Td (development ) Tj ET Q q 0 0 0 rg BT 184.21 437.10 Td (in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.49 437.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.49 437.10 Td ( ) Tj ET Q q 0 0 0 rg BT 216.99 437.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 256.70 437.10 Td (included ) Tj ET Q q 0 0 0 rg BT 293.63 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 308.35 437.10 Td (following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 420.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 420.10 Td (a ) Tj ET Q q 0 0 0 rg BT 92.44 420.10 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 149.37 420.10 Td (in ) Tj ET Q q 0 0 0 rg BT 159.65 420.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 209.35 420.10 Td (auto ) Tj ET Q q 0 0 0 rg BT 229.06 420.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 262.67 420.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 300.43 420.10 Td (for ) Tj ET Q q 0 0 0 rg BT 314.59 420.10 Td (accident ) Tj ET Q q 0 0 0 rg BT 350.40 420.10 Td (years ) Tj ET Q q 0 0 0 rg BT 374.00 420.10 Td (2010 ) Tj ET Q q 0 0 0 rg BT 396.50 420.10 Td (to ) Tj ET Q q 0 0 0 rg BT 406.78 420.10 Td (2012;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 403.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 403.10 Td (a ) Tj ET Q q 0 0 0 rg BT 92.44 403.10 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 149.37 403.10 Td (related ) Tj ET Q q 0 0 0 rg BT 179.07 403.10 Td (to ) Tj ET Q q 0 0 0 rg BT 189.35 403.10 Td (the ) Tj ET Q q 0 0 0 rg BT 204.07 403.10 Td (closing ) Tj ET Q q 0 0 0 rg BT 235.46 403.10 Td (of ) Tj ET Q q 0 0 0 rg BT 246.29 403.10 Td (the ) Tj ET Q q 0 0 0 rg BT 261.00 403.10 Td (New ) Tj ET Q q 0 0 0 rg BT 282.01 403.10 Td (Y) Tj ET Q q 0 0 0 rg BT 288.23 403.10 Td (ork ) Tj ET Q q 0 0 0 rg BT 304.06 403.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 336.56 403.10 Td (25A) Tj ET Q q 0 0 0 rg BT 353.23 403.10 Td ( ) Tj ET Q q 0 0 0 rg BT 355.73 403.10 Td (Fund ) Tj ET Q q 0 0 0 rg BT 378.79 403.10 Td (for ) Tj ET Q q 0 0 0 rg BT 392.95 403.10 Td (Reopened ) Tj ET Q q 0 0 0 rg BT 435.44 403.10 Td (Cases ) Tj ET Q q 0 0 0 rg BT 461.27 403.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 479.31 403.10 Td ("Fund"\);) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 386.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 386.10 Td (a ) Tj ET Q q 0 0 0 rg BT 92.44 386.10 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 149.37 386.10 Td (of ) Tj ET Q q 0 0 0 rg BT 160.20 386.10 Td (net ) Tj ET Q q 0 0 0 rg BT 174.92 386.10 Td (asbestos ) Tj ET Q q 0 0 0 rg BT 210.75 386.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 246.01 386.10 Td (driven ) Tj ET Q q 0 0 0 rg BT 274.05 386.10 Td (by ) Tj ET Q q 0 0 0 rg BT 286.55 386.10 Td (the ) Tj ET Q q 0 0 0 rg BT 301.27 386.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 330.43 386.10 Td (ground-up ) Tj ET Q q 0 0 0 rg BT 374.59 386.10 Td (asbestos ) Tj ET Q q 0 0 0 rg BT 410.42 386.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 441.78 386.10 Td (evaluation;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 369.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 369.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 121.32 369.10 Td (of) Tj ET Q q 0 0 0 rg BT 129.47 369.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 146.41 369.10 Td (by ) Tj ET Q q 0 0 0 rg BT 158.91 369.10 Td (a ) Tj ET Q q 0 0 0 rg BT 165.85 369.10 Td (release ) Tj ET Q q 0 0 0 rg BT 196.10 369.10 Td (of ) Tj ET Q q 0 0 0 rg BT 206.93 369.10 Td (general ) Tj ET Q q 0 0 0 rg BT 238.85 369.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 272.46 369.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 310.22 369.10 Td (for ) Tj ET Q q 0 0 0 rg BT 324.38 369.10 Td (accident ) Tj ET Q q 0 0 0 rg BT 360.19 369.10 Td (years ) Tj ET Q q 0 0 0 rg BT 383.79 369.10 Td (2006 ) Tj ET Q q 0 0 0 rg BT 406.29 369.10 Td (to ) Tj ET Q q 0 0 0 rg BT 416.57 369.10 Td (201) Tj ET Q q 0 0 0 rg BT 431.20 369.10 Td (1; ) Tj ET Q q 0 0 0 rg BT 441.48 369.10 Td (and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 352.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 352.10 Td (also ) Tj ET Q q 0 0 0 rg BT 104.11 352.10 Td (of) Tj ET Q q 0 0 0 rg BT 112.26 352.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 129.20 352.10 Td (by ) Tj ET Q q 0 0 0 rg BT 141.70 352.10 Td (a ) Tj ET Q q 0 0 0 rg BT 148.63 352.10 Td (release ) Tj ET Q q 0 0 0 rg BT 178.89 352.10 Td (of ) Tj ET Q q 0 0 0 rg BT 189.72 352.10 Td (professional ) Tj ET Q q 0 0 0 rg BT 241.10 352.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 274.70 352.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 312.46 352.10 Td (for ) Tj ET Q q 0 0 0 rg BT 326.62 352.10 Td (accident ) Tj ET Q q 0 0 0 rg BT 362.43 352.10 Td (years ) Tj ET Q q 0 0 0 rg BT 386.03 352.10 Td (2008 ) Tj ET Q q 0 0 0 rg BT 408.53 352.10 Td (to ) Tj ET Q q 0 0 0 rg BT 418.81 352.10 Td (2012; ) Tj ET Q q 0 0 0 rg BT 444.09 352.10 Td (and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 335.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 335.10 Td (also ) Tj ET Q q 0 0 0 rg BT 104.11 335.10 Td (of) Tj ET Q q 0 0 0 rg BT 112.26 335.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 129.20 335.10 Td (by ) Tj ET Q q 0 0 0 rg BT 141.70 335.10 Td (a ) Tj ET Q q 0 0 0 rg BT 148.63 335.10 Td (release ) Tj ET Q q 0 0 0 rg BT 178.89 335.10 Td (of ) Tj ET Q q 0 0 0 rg BT 189.72 335.10 Td (catastrophe ) Tj ET Q q 0 0 0 rg BT 237.75 335.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 273.01 335.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 312.72 335.10 Td (related ) Tj ET Q q 0 0 0 rg BT 342.42 335.10 Td (to ) Tj ET Q q 0 0 0 rg BT 352.70 335.10 Td (Storm ) Tj ET Q q 0 0 0 rg BT 379.65 335.10 Td (Sandy) Tj ET Q q 0 0 0 rg BT 404.00 335.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 318.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 48.44 318.10 Td (favorable ) Tj ET Q q 0 0 0 rg BT 88.69 318.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 120.06 318.10 Td (development ) Tj ET Q q 0 0 0 rg BT 174.21 318.10 Td (in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.49 318.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.49 318.10 Td ( ) Tj ET Q q 0 0 0 rg BT 206.99 318.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 246.70 318.10 Td (included ) Tj ET Q q 0 0 0 rg BT 283.63 318.10 Td (the ) Tj ET Q q 0 0 0 rg BT 298.35 318.10 Td (following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 301.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 301.10 Td (a ) Tj ET Q q 0 0 0 rg BT 92.44 301.10 Td (release ) Tj ET Q q 0 0 0 rg BT 122.69 301.10 Td (of ) Tj ET Q q 0 0 0 rg BT 133.52 301.10 Td (general ) Tj ET Q q 0 0 0 rg BT 165.45 301.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 199.05 301.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 236.81 301.10 Td (for ) Tj ET Q q 0 0 0 rg BT 250.97 301.10 Td (accident ) Tj ET Q q 0 0 0 rg BT 286.78 301.10 Td (years ) Tj ET Q q 0 0 0 rg BT 310.38 301.10 Td (2006 ) Tj ET Q q 0 0 0 rg BT 332.88 301.10 Td (to ) Tj ET Q q 0 0 0 rg BT 343.16 301.10 Td (2008;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 284.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 284.10 Td (a ) Tj ET Q q 0 0 0 rg BT 92.44 284.10 Td (release ) Tj ET Q q 0 0 0 rg BT 122.69 284.10 Td (of ) Tj ET Q q 0 0 0 rg BT 133.52 284.10 Td (catastrophes, ) Tj ET Q q 0 0 0 rg BT 187.95 284.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 227.66 284.10 Td (related ) Tj ET Q q 0 0 0 rg BT 257.36 284.10 Td (to ) Tj ET Q q 0 0 0 rg BT 267.64 284.10 Td (the ) Tj ET Q q 0 0 0 rg BT 282.36 284.10 Td (2001 ) Tj ET Q q 0 0 0 rg BT 304.67 284.10 Td (W) Tj ET Q q 0 0 0 rg BT 313.31 284.10 Td (orld ) Tj ET Q q 0 0 0 rg BT 331.74 284.10 Td (T) Tj ET Q q 0 0 0 rg BT 337.50 284.10 Td (rade ) Tj ET Q q 0 0 0 rg BT 357.20 284.10 Td (Center ) Tj ET Q q 0 0 0 rg BT 386.36 284.10 Td (worker's ) Tj ET Q q 0 0 0 rg BT 422.87 284.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 480.92 284.10 Td (claims; ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 267.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 267.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 121.32 267.10 Td (of) Tj ET Q q 0 0 0 rg BT 129.47 267.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 146.41 267.10 Td (by ) Tj ET Q q 0 0 0 rg BT 158.91 267.10 Td (a ) Tj ET Q q 0 0 0 rg BT 165.85 267.10 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 222.78 267.10 Td (of ) Tj ET Q q 0 0 0 rg BT 233.61 267.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 268.87 267.10 Td (for ) Tj ET Q q 0 0 0 rg BT 283.03 267.10 Td (workers) Tj ET Q q 0 0 0 rg BT 317.83 267.10 Td ( ) Tj ET Q q 0 0 0 rg BT 320.33 267.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 378.37 267.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 416.13 267.10 Td (for ) Tj ET Q q 0 0 0 rg BT 430.29 267.10 Td (accident ) Tj ET Q q 0 0 0 rg BT 466.10 267.10 Td (years ) Tj ET Q q 0 0 0 rg BT 489.70 267.10 Td (2009 ) Tj ET Q q 0 0 0 rg BT 512.20 267.10 Td (to ) Tj ET Q q 0 0 0 rg BT 522.48 267.10 Td (201) Tj ET Q q 0 0 0 rg BT 537.11 267.10 Td (1; ) Tj ET Q q 0 0 0 rg BT 547.38 267.10 Td (and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 250.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 250.10 Td (also ) Tj ET Q q 0 0 0 rg BT 104.11 250.10 Td (of) Tj ET Q q 0 0 0 rg BT 112.26 250.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 129.20 250.10 Td (by ) Tj ET Q q 0 0 0 rg BT 141.70 250.10 Td (a ) Tj ET Q q 0 0 0 rg BT 148.63 250.10 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 205.57 250.10 Td (of ) Tj ET Q q 0 0 0 rg BT 216.40 250.10 Td (asbestos ) Tj ET Q q 0 0 0 rg BT 252.23 250.10 Td (and ) Tj ET Q q 0 0 0 rg BT 269.17 250.10 Td (environmental ) Tj ET Q q 0 0 0 rg BT 329.43 250.10 Td (reserves.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 48.44 233.10 Td (unfavorable ) Tj ET Q q 0 0 0 rg BT 98.69 233.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 130.06 233.10 Td (development ) Tj ET Q q 0 0 0 rg BT 184.21 233.10 Td (in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.49 233.10 Td (201) Tj ET Q q 0 0 0 rg BT 209.12 233.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.12 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 216.62 233.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 256.33 233.10 Td (included ) Tj ET Q q 0 0 0 rg BT 293.26 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 307.98 233.10 Td (following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 216.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 216.10 Td (a ) Tj ET Q q 0 0 0 rg BT 92.44 216.10 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 149.37 216.10 Td (of ) Tj ET Q q 0 0 0 rg BT 160.20 216.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 195.46 216.10 Td (for ) Tj ET Q q 0 0 0 rg BT 209.62 216.10 Td (workers) Tj ET Q q 0 0 0 rg BT 244.42 216.10 Td ( ) Tj ET Q q 0 0 0 rg BT 246.92 216.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 304.96 216.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 342.72 216.10 Td (for ) Tj ET Q q 0 0 0 rg BT 356.88 216.10 Td (accident ) Tj ET Q q 0 0 0 rg BT 392.69 216.10 Td (years ) Tj ET Q q 0 0 0 rg BT 416.29 216.10 Td (2008 ) Tj ET Q q 0 0 0 rg BT 438.79 216.10 Td (to ) Tj ET Q q 0 0 0 rg BT 449.07 216.10 Td (2010;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 199.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 199.10 Td (a ) Tj ET Q q 0 0 0 rg BT 92.44 199.10 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 149.37 199.10 Td (of ) Tj ET Q q 0 0 0 rg BT 160.20 199.10 Td (asbestos ) Tj ET Q q 0 0 0 rg BT 196.03 199.10 Td (and ) Tj ET Q q 0 0 0 rg BT 212.97 199.10 Td (environmental ) Tj ET Q q 0 0 0 rg BT 273.23 199.10 Td (reserves;) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 182.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 182.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 121.32 182.10 Td (of) Tj ET Q q 0 0 0 rg BT 129.47 182.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 146.41 182.10 Td (by ) Tj ET Q q 0 0 0 rg BT 158.91 182.10 Td (a ) Tj ET Q q 0 0 0 rg BT 165.85 182.10 Td (release ) Tj ET Q q 0 0 0 rg BT 196.10 182.10 Td (of ) Tj ET Q q 0 0 0 rg BT 206.93 182.10 Td (auto ) Tj ET Q q 0 0 0 rg BT 226.65 182.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 260.26 182.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 288.86 182.10 Td (for ) Tj ET Q q 0 0 0 rg BT 303.02 182.10 Td (accident ) Tj ET Q q 0 0 0 rg BT 338.83 182.10 Td (years ) Tj ET Q q 0 0 0 rg BT 362.43 182.10 Td (2006 ) Tj ET Q q 0 0 0 rg BT 384.93 182.10 Td (to ) Tj ET Q q 0 0 0 rg BT 395.21 182.10 Td (2010; ) Tj ET Q q 0 0 0 rg BT 420.49 182.10 Td (and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 165.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 165.10 Td (also ) Tj ET Q q 0 0 0 rg BT 104.11 165.10 Td (of) Tj ET Q q 0 0 0 rg BT 112.26 165.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 129.20 165.10 Td (by ) Tj ET Q q 0 0 0 rg BT 141.70 165.10 Td (a ) Tj ET Q q 0 0 0 rg BT 148.63 165.10 Td (release ) Tj ET Q q 0 0 0 rg BT 178.89 165.10 Td (of ) Tj ET Q q 0 0 0 rg BT 189.72 165.10 Td (package ) Tj ET Q q 0 0 0 rg BT 224.97 165.10 Td (business ) Tj ET Q q 0 0 0 rg BT 261.36 165.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 294.97 165.10 Td (coverages ) Tj ET Q q 0 0 0 rg BT 337.45 165.10 Td (in ) Tj ET Q q 0 0 0 rg BT 347.73 165.10 Td (accident ) Tj ET Q q 0 0 0 rg BT 383.54 165.10 Td (years ) Tj ET Q q 0 0 0 rg BT 407.14 165.10 Td (2005 ) Tj ET Q q 0 0 0 rg BT 429.64 165.10 Td (to ) Tj ET Q q 0 0 0 rg BT 439.91 165.10 Td (2009.) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 1 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (12. Reserves for) Tj ET Q q 0 0 0 rg BT 106.63 731.80 Td ( Futur) Tj ET Q q 0 0 0 rg BT 136.68 731.80 Td (e Policy Benefits and Unpaid Losses and Loss ) Tj ET Q q 0 0 0 rg BT 351.84 731.80 Td (Adjustment Expenses \(continued\)) Tj ET Q endstream endobj 419 0 obj <> endobj 420 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-73) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Life ) Tj ET Q q 0 0 0 rg BT 51.22 713.25 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 96.50 713.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 106.87 713.25 Td (oducts ) Tj ET Q q 0 0 0 rg BT 137.15 713.25 Td (Unpaid ) Tj ET Q q 0 0 0 rg BT 171.33 713.25 Td (Losses ) Tj ET Q q 0 0 0 rg BT 201.62 713.25 Td (and ) Tj ET Q q 0 0 0 rg BT 220.24 713.25 Td (Loss ) Tj ET Q q 0 0 0 rg BT 241.64 713.25 Td (Adjustment ) Tj ET Q q 0 0 0 rg BT 294.70 713.25 Td (Expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 695.25 Td ( ) Tj ET Q q 0 0 0 rg BT 40.67 695.25 Td (rollforward ) Tj ET Q q 0 0 0 rg BT 88.71 695.25 Td (of ) Tj ET Q q 0 0 0 rg BT 99.54 695.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 139.25 695.25 Td (for ) Tj ET Q q 0 0 0 rg BT 153.41 695.25 Td (group ) Tj ET Q q 0 0 0 rg BT 179.24 695.25 Td (life, ) Tj ET Q q 0 0 0 rg BT 197.57 695.25 Td (disability ) Tj ET Q q 0 0 0 rg BT 237.29 695.25 Td (and ) Tj ET Q q 0 0 0 rg BT 254.23 695.25 Td (accident, ) Tj ET Q q 0 0 0 rg BT 292.54 695.25 Td (for ) Tj ET Q q 0 0 0 rg BT 306.70 695.25 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 336.42 695.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 362.81 695.25 Td (and ) Tj ET Q q 0 0 0 rg BT 379.75 695.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 397.81 695.25 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 444.19 695.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 482.79 695.25 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 649.75 384.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 649.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 649.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 649.75 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 621.75 384.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 621.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 621.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 621.75 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 593.75 384.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 593.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 593.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 593.75 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 565.75 384.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 565.75 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 565.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 565.75 59.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 538.75 384.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 538.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 538.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 538.75 59.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 510.75 384.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 510.75 54.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 510.75 52.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 510.75 59.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 484.75 384.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 416.00 484.75 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 470.00 484.75 52.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 484.75 59.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 664.75 m 470 664.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470 664.75 m 522 664.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 664.75 m 581 664.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 649.75 m 416 649.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 649.75 m 470 649.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470 649.75 m 522 649.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 649.75 m 581 649.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 621.75 m 416 621.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 621.75 m 470 621.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470 621.75 m 522 621.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 621.75 m 581 621.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 565.75 m 416 565.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 565.75 m 470 565.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470 565.75 m 522 565.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 565.75 m 581 565.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 510.75 m 416 510.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 497.75 m 416 497.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 510.75 m 470 510.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 497.75 m 470 497.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470 510.75 m 522 510.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470 497.75 m 522 497.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 510.75 m 581 510.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 497.75 m 581 497.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 470.75 m 416 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 456.75 m 416 456.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 416 470.75 m 470 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 416 456.75 m 470 456.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 470 470.75 m 522 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 456.75 m 522 456.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 470.75 m 581 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522 456.75 m 581 456.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 669.32 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 432.65 669.20 Td (For the years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 654.42 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.50 654.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 486.50 654.20 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 542.20 654.20 Td (2011) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 640.43 Td (Beginning liabilities for unpaid losses and loss adjustment expenses, gross) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.50 640.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 443.65 640.43 Td (6,547) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.50 640.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.65 640.43 Td (6,547) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.50 640.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 640.43 Td (6,388) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 626.32 Td (Reinsurance recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.15 626.32 Td (252) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.15 626.32 Td (233) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 626.32 Td (209) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 612.43 Td (Beginning liabilities for unpaid losses and loss adjustment expenses, net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 443.65 612.43 Td (6,295) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.65 612.43 Td (6,314) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 612.43 Td (6,179) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 598.43 Td (Add provision for unpaid losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 584.32 Td (Current year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.65 584.32 Td (2,534) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 584.32 Td (2,989) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 584.32 Td (3,196) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 570.32 Td (Prior years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.80 570.37 Td (\(17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 570.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 570.32 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 570.32 Td (98) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 556.48 Td (Total provision for unpaid losses and loss adjustment expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 443.65 556.48 Td (2,517) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.65 556.48 Td (3,041) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 556.48 Td (3,294) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 543.43 Td (Less payments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 529.32 Td (Current year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.65 529.32 Td (1,207) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 529.32 Td (1,460) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 529.32 Td (1,524) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 515.32 Td (Prior years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.65 515.32 Td (1,564) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.65 515.32 Td (1,600) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 515.32 Td (1,635) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 501.48 Td (Total payments) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 443.65 501.48 Td (2,771) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.65 501.48 Td (3,060) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 501.48 Td (3,159) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 488.48 Td (Ending liabilities for unpaid losses and loss adjustment expenses, net) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 443.65 488.48 Td (6,041) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.65 488.48 Td (6,295) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 488.48 Td (6,314) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 475.32 Td (Reinsurance recoverables) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.15 475.32 Td (267) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.15 475.32 Td (252) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 475.32 Td (233) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 461.43 Td (Ending liabilities for unpaid losses and loss adjustment expenses, gross) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.50 461.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 443.65 461.43 Td (6,308) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.50 461.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 495.65 461.43 Td (6,547) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.50 461.43 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 461.43 Td (6,547) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 439.25 Td (The liability for unpaid losses and loss adjustment expenses for group life, disability and accident contracts was discounted to present ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 427.25 Td (value using rates based on the Company) Tj ET Q q 0 0 0 rg BT 195.35 427.25 Td (s earned investment yield estimated at the time the claims are incurred.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 405.25 Td (The ) Tj ET Q q 0 0 0 rg BT 49.27 405.25 Td (decrease ) Tj ET Q q 0 0 0 rg BT 85.91 405.25 Td (in ) Tj ET Q q 0 0 0 rg BT 95.91 405.25 Td (the ) Tj ET Q q 0 0 0 rg BT 110.35 405.25 Td (provision ) Tj ET Q q 0 0 0 rg BT 150.35 405.25 Td (for ) Tj ET Q q 0 0 0 rg BT 164.23 405.25 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 193.67 405.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 219.79 405.25 Td (and ) Tj ET Q q 0 0 0 rg BT 236.45 405.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 254.23 405.25 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 300.34 405.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 338.66 405.25 Td (is ) Tj ET Q q 0 0 0 rg BT 347.55 405.25 Td (due ) Tj ET Q q 0 0 0 rg BT 364.22 405.25 Td (to ) Tj ET Q q 0 0 0 rg BT 374.22 405.25 Td (favorable ) Tj ET Q q 0 0 0 rg BT 414.19 405.25 Td (claim ) Tj ET Q q 0 0 0 rg BT 438.63 405.25 Td (recoveries, ) Tj ET Q q 0 0 0 rg BT 484.44 405.25 Td (particularly ) Tj ET Q q 0 0 0 rg BT 532.75 405.25 Td (on ) Tj ET Q q 0 0 0 rg BT 544.97 405.25 Td (the ) Tj ET Q q 0 0 0 rg BT 559.41 405.25 Td (long-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 393.25 Td (term ) Tj ET Q q 0 0 0 rg BT 52.33 393.25 Td (disability ) Tj ET Q q 0 0 0 rg BT 92.05 393.25 Td (product. ) Tj ET Q q 0 0 0 rg BT 127.59 393.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 375.25 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 375.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 83.16 375.25 Td (for ) Tj ET Q q 0 0 0 rg BT 97.32 375.25 Td (future ) Tj ET Q q 0 0 0 rg BT 123.69 375.25 Td (policy ) Tj ET Q q 0 0 0 rg BT 151.19 375.25 Td (benefits ) Tj ET Q q 0 0 0 rg BT 185.34 375.25 Td (and ) Tj ET Q q 0 0 0 rg BT 202.28 375.25 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 232.00 375.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 258.39 375.25 Td (and ) Tj ET Q q 0 0 0 rg BT 275.33 375.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 293.39 375.25 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 339.77 375.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 378.37 375.25 Td (is ) Tj ET Q q 0 0 0 rg BT 387.54 375.25 Td (as ) Tj ET Q q 0 0 0 rg BT 398.37 375.25 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 345.75 437.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 345.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 345.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 317.75 437.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 317.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 317.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 289.75 437.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 289.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 289.75 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 345.75 m 469 345.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 345.75 m 525 345.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 345.75 m 581 345.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 289.75 m 469 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 276.75 m 469 276.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 289.75 m 525 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 276.75 m 525 276.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 289.75 m 581 289.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 276.75 m 581 276.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.50 350.15 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.50 350.15 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 336.32 Td (Group life term, disability and accident unpaid losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 336.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.65 336.32 Td (6,308) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 336.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 336.32 Td (6,547) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 322.32 Td (Group life other unpaid losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 322.32 Td (206) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 322.32 Td (206) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 308.32 Td (Individual life unpaid losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 308.32 Td (167) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 308.32 Td (173) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 294.32 Td (Future policy benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 294.32 Td (12,988) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.65 294.32 Td (12,350) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 280.48 Td (Future policy benefits and unpaid losses and loss adjustment expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 280.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.65 280.48 Td (19,669) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 280.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.65 280.48 Td (19,276) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 32 772.93359375 m 88.76171875 772.93359375 l s q 0 0 1 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (12. Reserves for) Tj ET Q q 0 0 0 rg BT 106.63 731.80 Td ( Futur) Tj ET Q q 0 0 0 rg BT 136.68 731.80 Td (e Policy Benefits and Unpaid Losses and Loss ) Tj ET Q q 0 0 0 rg BT 351.84 731.80 Td (Adjustment Expenses \(continued\)) Tj ET Q endstream endobj 421 0 obj <> endobj 422 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-74) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (13) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 42.50 712.60 Td (. ) Tj ET Q q 0 0 0 rg BT 48.00 712.60 Td (Debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 694.60 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 694.60 Td (s long-term debt securities are issued by either HFSG Holding Company or HLI, and are unsecured obligations of HFSG ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 682.60 Td (Holding Company or HLI, and rank on a parity with all other unsecured and unsubordinated indebtedness of HFSG Holding Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 670.60 Td (or HLI. ) Tj ET Q q 0 0 0 rg BT 66.31 670.60 Td (The Company's revolving credit facility debt is secured by Japan government bonds and is drawn by HLIKK. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 652.60 Td (Debt is carried net of discount. Short-term and long-term debt by issuance are as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 593.10 423.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 593.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 593.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 565.10 423.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 565.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 565.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 537.10 423.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 537.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 537.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 509.10 423.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 509.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 509.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 481.10 423.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 481.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 481.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 453.10 423.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 453.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 453.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 425.10 423.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 425.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 425.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 397.10 423.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 397.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 397.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 369.10 423.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 369.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 369.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 341.10 423.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 341.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 341.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 313.10 423.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 313.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 313.10 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 285.10 423.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 285.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 285.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 259.10 423.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 259.10 60.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 259.10 60.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 621.1 m 515 621.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 621.1 m 575 621.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 607.1 m 455 607.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 593.1 m 455 593.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 607.1 m 515 607.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 593.1 m 515 593.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 607.1 m 575 607.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 593.1 m 575 593.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 285.1 m 455 285.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 285.1 m 515 285.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 285.1 m 575 285.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 285.1 m 515 285.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 259.1 m 455 259.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 259.1 m 515 259.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 259.1 m 575 259.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 246.10000000000002 m 455 246.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 259.1 m 515 259.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 246.10000000000002 m 515 246.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 259.1 m 575 259.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 246.10000000000002 m 575 246.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 246.10000000000002 m 455 246.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 233.10000000000002 m 455 233.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 246.10000000000002 m 515 246.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 233.10000000000002 m 515 233.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 246.10000000000002 m 575 246.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 233.10000000000002 m 575 233.10000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.30 625.55 Td (As of December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 475.50 611.55 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.50 611.55 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 597.78 Td (Revolving Credit Facilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 597.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 597.67 Td (238) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 597.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 597.67 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 583.78 Td (Senior Notes and Debentures) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.50 583.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.50 583.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 569.67 Td (4.625% Notes, due 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 569.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 569.67 Td (320) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 555.67 Td (4.75% Notes, due 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 555.67 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 555.67 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 541.67 Td (4.0% Notes, due 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 541.67 Td (289) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 541.67 Td (300) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 527.67 Td (7.3% Notes, due 2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 527.67 Td (167) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 527.67 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 513.67 Td (5.5% Notes, due 2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 513.67 Td (275) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 513.67 Td (300) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 499.67 Td (5.375% Notes, due 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 499.67 Td (415) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 499.67 Td (499) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 485.67 Td (4.0% Notes, due 2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 485.67 Td (295) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 485.67 Td (325) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 471.67 Td (6.3% Notes, due 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 471.67 Td (320) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 471.67 Td (500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 457.67 Td (6.0% Notes, due 2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 457.67 Td (413) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 457.67 Td (500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 443.67 Td (5.5% Notes, due 2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 443.67 Td (499) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 443.67 Td (499) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 429.67 Td (5.125% Notes, due 2022) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 429.67 Td (796) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 429.67 Td (796) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 415.67 Td (7.65% Notes, due 2027) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 415.67 Td (79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 415.67 Td (149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 401.67 Td (7.375% Notes, due 2031) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 401.67 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 401.67 Td (92) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 387.67 Td (5.95% Notes, due 2036) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 387.67 Td (298) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 387.67 Td (298) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 373.67 Td (6.625% Notes, due 2040) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 373.67 Td (295) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 373.67 Td (299) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 359.67 Td (6.1% Notes, due 2041) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 359.67 Td (326) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 359.67 Td (325) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 345.67 Td (6.625% Notes, due 2042) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 345.67 Td (178) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 345.67 Td (424) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 331.67 Td (4.3% Notes, due 2043) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 331.67 Td (298) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.15 331.67 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 317.78 Td (Junior Subordinated Debentures) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.50 317.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.50 317.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 303.67 Td (7.875% Notes, due 2042) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 303.67 Td (600) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 303.67 Td (600) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 289.67 Td (8.125% Notes, due 2068) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 289.67 Td (500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 289.67 Td (500) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 275.83 Td (Total Notes and Debentures) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.65 275.83 Td (6,306) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.65 275.83 Td (7,126) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 262.67 Td (Less: Current maturities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 262.67 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 262.67 Td (320) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 249.83 Td (Long-Term Debt) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.65 249.83 Td (6,106) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.65 249.83 Td (6,806) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 236.83 Td (Total Debt) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.50 236.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.65 236.83 Td (6,544) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.50 236.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.65 236.83 Td (7,126) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.60 Td (The ef) Tj ET Q q 0 0 0 rg BT 57.13 203.60 Td (fective interest rate on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 163.47 203.60 Td (6.1%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.30 203.60 Td ( senior notes due 2041 is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.46 203.60 Td (7.9%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.29 203.60 Td (. ) Tj ET Q q 0 0 0 rg BT 316.61 203.60 Td (The ef) Tj ET Q q 0 0 0 rg BT 342.24 203.60 Td (fective interest rate on the remaining notes does not dif) Tj ET Q q 0 0 0 rg BT 562.27 203.60 Td (fer ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.60 Td (materially from the stated rate. ) Tj ET Q q 0 0 0 rg BT 156.82 191.60 Td (The Company incurred interest expense of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.54 191.60 Td ($397) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.54 191.60 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.54 191.60 Td ($457) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.54 191.60 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.98 191.60 Td ($508) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.98 191.60 Td ( on long-term debt for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.60 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.58 179.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.08 179.60 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 179.60 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 115.08 179.60 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 135.08 179.60 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.52 179.60 Td (201) Tj ET Q q 0 0 0 rg BT 169.15 179.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.15 179.60 Td (, respectively) Tj ET Q q 0 0 0 rg BT 226.81 179.60 Td (. ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 423 0 obj <> endobj 424 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-75) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Collateralized ) Tj ET Q q 0 0 0 rg BT 93.43 713.25 Td (Advances) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Hartford Life Insurance Company \(HLIC\), an indirect wholly owned subsidiary) Tj ET Q q 0 0 0 rg BT 359.08 695.25 Td (, became a member of the Federal Home Loan Bank of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (Boston \(FHLBB\) in May201) Tj ET Q q 0 0 0 rg BT 158.35 683.25 Td (1. Membership allows HLIC access to collateralized advances, which may be used to support various ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (spread-based businesses and enhance liquidity management. ) Tj ET Q q 0 0 0 rg BT 277.91 671.25 Td (The Connecticut Department of Insurance \(CTDOI\) will permit HLIC to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (pledge up to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 83.43 659.25 Td ($1.25 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.55 659.25 Td ( in qualifying assets to secure FHLBB advances for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.11 659.25 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.11 659.25 Td (. ) Tj ET Q q 0 0 0 rg BT 370.43 659.25 Td (The amount of advances that can be taken are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (dependent on the asset types pledged to secure the advances. ) Tj ET Q q 0 0 0 rg BT 276.51 647.25 Td (The pledge limit is recalculated annually based on statutory admitted assets ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (and capital and surplus. HLIC would need to seek the prior approval of the CTDOI if there were a desire to exceed these limits. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.06 635.25 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 623.25 Td (, HLIC had no advances outstanding under the FHLBB facility) Tj ET Q q 0 0 0 rg BT 361.05 623.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (Senior) Tj ET Q q 0 0 0 rg BT 59.10 605.25 Td ( Notes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (On March 26, 2013, the Company repurchased principal amounts of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.25 587.25 Td ($800) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.25 587.25 Td (, plus a payment for unpaid interest on senior ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (notes due through the settlement date. ) Tj ET Q q 0 0 0 rg BT 187.95 575.25 Td (The Company recognized a loss on extinguishment in 2013 of approximately $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.27 575.25 Td (213) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.27 575.25 Td (, before tax, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (representing the excess of the repurchase price over the principal repaid and the write-of) Tj ET Q q 0 0 0 rg BT 384.77 563.25 Td (f of the unamortized discount and debt issuance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (costs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (On ) Tj ET Q q 0 0 0 rg BT 45.67 533.25 Td (April 18, 2013, the Company issued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.88 533.25 Td ($300) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.88 533.25 Td ( aggregate principal amount of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.11 533.25 Td (4.3%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.94 533.25 Td ( Senior Notes \(the "4.3% Notes"\) due ) Tj ET Q q 0 0 0 rg BT 510.97 533.25 Td (April 15, 2043 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (for net proceeds of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.50 521.25 Td ($295) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.50 521.25 Td (, after deducting underwriting discounts and expenses from the of) Tj ET Q q 0 0 0 rg BT 452.03 521.25 Td (fering. ) Tj ET Q q 0 0 0 rg BT 483.22 521.25 Td (The 4.3% Notes bear ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (interest at an annual fixed rate of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 168.11 509.25 Td (4.3%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.94 509.25 Td ( from the date of issuance to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.18 509.25 Td (April15, 2043) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.79 509.25 Td (, payable semi-annually in arrears on ) Tj ET Q q 0 0 0 rg BT 512.46 509.25 Td (April 15 and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.25 Td (October 15, commencing October 15, 2013. ) Tj ET Q q 0 0 0 rg BT 212.38 497.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 268.67 497.25 Td (, at its option, can redeem the 4.3% Notes at any time in whole, or from time ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.25 Td (to time in part, at a redemption price at a discount rate of US ) Tj ET Q q 0 0 0 rg BT 276.52 485.25 Td (T) Tj ET Q q 0 0 0 rg BT 282.28 485.25 Td (reasury due November 15, 2042 plus 25 basis points, or if greater) Tj ET Q q 0 0 0 rg BT 543.76 485.25 Td (, 100% ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (of the principal amount of notes to be redeemed, plus accrued and unpaid interest to the date of redemption.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 455.25 Td (Junior) Tj ET Q q 0 0 0 rg BT 59.66 455.25 Td ( ) Tj ET Q q 0 0 0 rg BT 62.16 455.25 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 123.01 455.25 Td (Debentur) Tj ET Q q 0 0 0 rg BT 163.38 455.25 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.25 Td (On ) Tj ET Q q 0 0 0 rg BT 45.67 437.25 Td (April17, 2012, the Company \(i\)repurchased all outstanding ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.79 437.25 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.12 437.25 Td ( fixed-to-floating rate junior subordinated debentures due 2068 with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.25 Td (a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 38.44 425.25 Td ($1.75 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.55 425.25 Td ( aggregate principal amount held by ) Tj ET Q q 0 0 0 rg BT 235.62 425.25 Td (Allianz SE \(Allianz\) \(the 10% Debentures\) for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.47 425.25 Td ($2.125 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.58 425.25 Td ( \(plus a payment by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.25 Td (the Company of unpaid interest on the 10% Debentures\) and \(ii\)settled the repurchase of the Series B and Series C warrants held by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.25 Td (Allianz to purchase shares of the Company) Tj ET Q q 0 0 0 rg BT 206.45 401.25 Td (s common stock, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.65 401.25 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 323.65 401.25 Td (. In addition, the 10% Debentures replacement capital covenant ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (\(the 10% Debentures RCC\) was terminated on ) Tj ET Q q 0 0 0 rg BT 228.39 389.25 Td (April12, 2012 with the consent of the holders of a majority in aggregate principal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.25 Td (amount of the Company) Tj ET Q q 0 0 0 rg BT 131.21 377.25 Td (s outstanding ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.76 377.25 Td (6.1%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 207.59 377.25 Td ( senior notes due 2041. Upon closing, the Company recognized a loss on extinguishment in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (the second quarter of 2012 of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.96 365.25 Td ($587) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.96 365.25 Td (, after) Tj ET Q q 0 0 0 rg BT 197.08 365.25 Td (-tax, representing the premium associated with repurchasing the 10% Debentures at an amount ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.25 Td (greater than the face amount, the write-of) Tj ET Q q 0 0 0 rg BT 197.07 353.25 Td (f of the unamortized discount and debt issuance costs related to the 10% Debentures and other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.25 Td (costs related to the repurchase transaction. On ) Tj ET Q q 0 0 0 rg BT 217.54 341.25 Td (April5, 2012, the Company issued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.76 341.25 Td ($600) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.76 341.25 Td ( aggregate principal amount of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.99 341.25 Td (7.875%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.82 341.25 Td ( fixed-to-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.25 Td (floating rate junior subordinated debentures due 2042 \(the Debentures\) for net proceeds of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.68 329.25 Td ($586,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.18 329.25 Td ( after deducting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.25 Td (underwriting discounts and of) Tj ET Q q 0 0 0 rg BT 151.02 317.25 Td (fering expenses. ) Tj ET Q q 0 0 0 rg BT 218.32 317.25 Td (The Company financed the repurchase of the 10% Debentures through the issuance of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.25 Td (Senior Notes and the Debentures.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.25 Td (The Debentures bear interest from the date of issuance to but excluding ) Tj ET Q q 0 0 0 rg BT 319.18 287.25 Td (April15, 2022 at an annual rate of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.42 287.25 Td (7.875%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.25 287.25 Td (, payable quarterly in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.25 Td (arrears on January15,) Tj ET Q q 0 0 0 rg BT 121.74 275.25 Td (April15,July15 and October15 of each year to and including ) Tj ET Q q 0 0 0 rg BT 374.46 275.25 Td (April15, 2022. Commencing on ) Tj ET Q q 0 0 0 rg BT 506.40 275.25 Td (April15, 2022 the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.25 Td (Debentures bear interest at an annual rate equal to three-month LIBOR, reset quarterly) Tj ET Q q 0 0 0 rg BT 377.10 263.25 Td (, plus ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.27 263.25 Td (5.596%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.10 263.25 Td (, payable quarterly in arrears on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.25 Td (January15,) Tj ET Q q 0 0 0 rg BT 79.55 251.25 Td (April15,July15 and October15 of each year) Tj ET Q q 0 0 0 rg BT 262.42 251.25 Td (, commencing on July15, 2022. ) Tj ET Q q 0 0 0 rg BT 393.06 251.25 Td (The Company has the right, on one or more ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.25 Td (occasions, to defer the payment of interest on the Debentures. ) Tj ET Q q 0 0 0 rg BT 280.68 239.25 Td (The Company may defer interest for up to ten consecutive years without ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 227.25 Td (giving rise to an event of default. Deferred interest will accumulate additional interest at an annual rate equal to the annual interest rate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (then applicable to the Debentures. If the Company defers interest payments on the Debentures, the Company generally may not make ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.25 Td (payments on or redeem or purchase any shares of its capital stock or any of its debt securities or guarantees that rank upon liquidation, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.25 Td (dissolution or winding up equally with or junior to the Debentures, subject to certain limited exceptions.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.25 Td (The Company may elect to redeem the Debentures in whole at any time or in part from time to time on or after ) Tj ET Q q 0 0 0 rg BT 476.64 173.25 Td (April15, 2022, at a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.25 Td (redemption price equal to the principal amount of the Debentures being redeemed plus accrued and unpaid interest to but excluding the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.25 Td (date of redemption. If the Debentures are not redeemed in whole, at least ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.55 149.25 Td ($25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.55 149.25 Td ( aggregate principal amount of the Debentures must remain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.25 Td (outstanding after giving ef) Tj ET Q q 0 0 0 rg BT 137.13 137.25 Td (fect to such redemption. ) Tj ET Q q 0 0 0 rg BT 236.08 137.25 Td (The Debentures may be redeemed in whole at any time prior to ) Tj ET Q q 0 0 0 rg BT 490.99 137.25 Td (April15, 2022, within ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.25 Td (90days of the occurrence of a tax event or rating agency event, at a redemption price equal to the greater of \(i\)the principal amount of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.25 Td (the Debentures being redeemed, or \(ii\)the present value of the \(a\)outstanding principal and \(b\)remaining scheduled payments of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.25 Td (interest that would have been payable from the redemption date to and including ) Tj ET Q q 0 0 0 rg BT 355.57 101.25 Td (April15, 2022 on the Debentures to be redeemed \(not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.25 Td (including any portion of such payments of interest accrued and unpaid to but excluding the redemption date\), discounted from their ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 77.25 Td (respective interest payment dates to but excluding the redemption date at a discount rate equal to the ) Tj ET Q q 0 0 0 rg BT 435.35 77.25 Td (T) Tj ET Q q 0 0 0 rg BT 441.10 77.25 Td (reasury Rate plus a spread of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 65.25 Td (0.7%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.33 65.25 Td (, in each case, plus accrued and unpaid interest to but excluding the redemption date.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (13. Debt \(continued\)) Tj ET Q endstream endobj 425 0 obj <> endobj 426 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-76) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The Debentures are unsecured, subordinated and junior in right of payment and upon liquidation to all of the Company) Tj ET Q q 0 0 0 rg BT 509.99 713.10 Td (s existing and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (future senior indebtedness. In addition, the Debentures are ef) Tj ET Q q 0 0 0 rg BT 275.12 701.10 Td (fectively subordinated to all of the Company) Tj ET Q q 0 0 0 rg BT 456.74 701.10 Td (s subsidiaries) Tj ET Q q 0 0 0 rg BT 512.94 701.10 Td ( existing and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (future indebtedness and other liabilities, including obligations to policyholders. ) Tj ET Q q 0 0 0 rg BT 350.98 689.10 Td (The Debentures do not limit the Company) Tj ET Q q 0 0 0 rg BT 522.62 689.10 Td (s or the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (Company) Tj ET Q q 0 0 0 rg BT 73.17 677.10 Td (s subsidiaries) Tj ET Q q 0 0 0 rg BT 129.36 677.10 Td ( ability to incur additional debt, including debt that ranks senior in right of payment and upon liquidation to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (Debentures.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (The Debentures rank equally in right of payment and upon liquidation with \(i\)any indebtedness the terms of which provide that such ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (indebtedness ranks equally with the Debentures, including guarantees of such indebtedness, \(ii\)the Company) Tj ET Q q 0 0 0 rg BT 472.22 635.10 Td (s existing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.78 635.10 Td (8.125%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.61 635.10 Td ( fixed-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (to-floating rate junior subordinated debentures due 2068 \(the 8.125% Debentures\), \(iii\)the Company) Tj ET Q q 0 0 0 rg BT 447.49 623.10 Td (s Income Capital Obligation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (Notes due 2067, issuable pursuant to the Junior Subordinated Indenture, dated as of February12, 2007, between the Company and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (W) Tj ET Q q 0 0 0 rg BT 40.54 599.10 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 81.75 599.10 Td (T) Tj ET Q q 0 0 0 rg BT 87.51 599.10 Td (rust Company \(the ICON securities\), \(iv\)our trade accounts payable, and \(v\)any of our indebtedness owed to a person ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (who is our subsidiary or employee.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (Long-T) Tj ET Q q 0 0 0 rg BT 62.81 569.10 Td (erm ) Tj ET Q q 0 0 0 rg BT 82.52 569.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 105.57 569.10 Td (Maturities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (Long-term ) Tj ET Q q 0 0 0 rg BT 76.76 551.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 96.48 551.10 Td (maturities ) Tj ET Q q 0 0 0 rg BT 138.97 551.10 Td (\(at ) Tj ET Q q 0 0 0 rg BT 152.02 551.10 Td (par ) Tj ET Q q 0 0 0 rg BT 167.29 551.10 Td (values\), ) Tj ET Q q 0 0 0 rg BT 201.16 551.10 Td (as ) Tj ET Q q 0 0 0 rg BT 211.99 551.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.82 551.10 Td (December31, ) Tj ET Q q 0 0 0 rg BT 281.41 551.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 301.41 551.10 Td ( ) Tj ET Q q 0 0 0 rg BT 303.91 551.10 Td (are ) Tj ET Q q 0 0 0 rg BT 318.61 551.10 Td (summarized ) Tj ET Q q 0 0 0 rg BT 369.99 551.10 Td (as ) Tj ET Q q 0 0 0 rg BT 380.82 551.10 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 534.60 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 534.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 506.60 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 506.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 478.60 236.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 268.00 478.60 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 450.6 m 268 450.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 268 450.6 m 324 450.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 525.17 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.50 525.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.15 525.17 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 511.17 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.15 511.17 Td (456) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 497.17 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.15 497.17 Td (275) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 483.17 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.15 483.17 Td (711) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 469.17 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.15 469.17 Td (320) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 455.17 Td (Thereafter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.65 455.17 Td (4,438) Tj ET Q BT /F2 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 433.10 Td (Shelf Registrations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 415.10 Td (On ) Tj ET Q q 0 0 0 rg BT 45.67 415.10 Td (August9, 2013, the Company filed with the Securities and Exchange Commission \(the SEC\) an automatic shelf registration ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 403.10 Td (statement \(Registration No.333-190506\) for the potential of) Tj ET Q q 0 0 0 rg BT 272.93 403.10 Td (fering and sale of debt and equity securities. ) Tj ET Q q 0 0 0 rg BT 451.86 403.10 Td (The registration statement ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 391.10 Td (allows for the following types of securities to be of) Tj ET Q q 0 0 0 rg BT 235.44 391.10 Td (fered: debt securities, junior subordinated debt securities, preferred stock, common ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 379.10 Td (stock, depositary shares, warrants, stock purchase contracts, and stock purchase units. In that ) Tj ET Q q 0 0 0 rg BT 405.10 379.10 Td (The Hartford is a well-known seasoned ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 367.10 Td (issuer) Tj ET Q q 0 0 0 rg BT 54.43 367.10 Td (, as defined in Rule 405 under the Securities ) Tj ET Q q 0 0 0 rg BT 233.28 367.10 Td (Act of 1933, the registration statement went ef) Tj ET Q q 0 0 0 rg BT 419.15 367.10 Td (fective immediately upon filing and ) Tj ET Q q 0 0 0 rg BT 564.76 367.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 355.10 Td (Hartford may of) Tj ET Q q 0 0 0 rg BT 96.29 355.10 Td (fer and sell an unlimited amount of securities under the registration statement during the three-year life of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 343.10 Td (registration statement. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 328.10 Td (Contingent Capital Facility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 310.10 Td (The Company is party to a put option agreement that provides ) Tj ET Q q 0 0 0 rg BT 282.10 310.10 Td (The Hartford with the right to require the Glen Meadow ) Tj ET Q q 0 0 0 rg BT 508.14 310.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 531.02 310.10 Td (T) Tj ET Q q 0 0 0 rg BT 536.78 310.10 Td (rust, a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 298.10 Td (Delaware statutory trust, at any time and from time to time, to purchase ) Tj ET Q q 0 0 0 rg BT 319.84 298.10 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 375.10 298.10 Td (s junior subordinated notes in a maximum ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 286.10 Td (aggregate principal amount not to exceed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.21 286.10 Td ($500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.21 286.10 Td (. Under the Put Option ) Tj ET Q q 0 0 0 rg BT 314.48 286.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 363.73 286.10 Td (The Hartford will pay the Glen Meadow ) Tj ET Q q 0 0 0 rg BT 527.29 286.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 550.17 286.10 Td (T) Tj ET Q q 0 0 0 rg BT 555.93 286.10 Td (rust ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 274.10 Td (premiums on a periodic basis, calculated with respect to the aggregate principal amount of notes that ) Tj ET Q q 0 0 0 rg BT 436.47 274.10 Td (The Hartford had the right to put to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 262.10 Td (the Glen Meadow ) Tj ET Q q 0 0 0 rg BT 105.09 262.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 127.97 262.10 Td (T) Tj ET Q q 0 0 0 rg BT 133.73 262.10 Td (rust for such period. ) Tj ET Q q 0 0 0 rg BT 219.09 262.10 Td (The Hartford has agreed to reimburse the Glen Meadow ) Tj ET Q q 0 0 0 rg BT 445.40 262.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 468.28 262.10 Td (T) Tj ET Q q 0 0 0 rg BT 474.03 262.10 Td (rust for certain fees and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 250.10 Td (ordinary expenses. ) Tj ET Q q 0 0 0 rg BT 111.29 250.10 Td (The Company holds a variable interest in the Glen Meadow ) Tj ET Q q 0 0 0 rg BT 352.34 250.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 375.23 250.10 Td (T) Tj ET Q q 0 0 0 rg BT 380.98 250.10 Td (rust where the Company is not the primary ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 238.10 Td (beneficiary) Tj ET Q q 0 0 0 rg BT 75.82 238.10 Td (. ) Tj ET Q q 0 0 0 rg BT 80.27 238.10 Td (As a result, the Company did not consolidate the Glen Meadow ) Tj ET Q q 0 0 0 rg BT 336.33 238.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 359.21 238.10 Td (T) Tj ET Q q 0 0 0 rg BT 364.97 238.10 Td (rust. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.92 238.10 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.95 238.10 Td (, ) Tj ET Q q 0 0 0 rg BT 494.77 238.10 Td (The Hartford has not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 226.10 Td (exercised its right to require Glen Meadow ) Tj ET Q q 0 0 0 rg BT 205.06 226.10 Td (ABC ) Tj ET Q q 0 0 0 rg BT 227.94 226.10 Td (T) Tj ET Q q 0 0 0 rg BT 233.70 226.10 Td (rust to purchase the notes. ) Tj ET Q q 0 0 0 rg BT 339.79 226.10 Td (As a result, the notes remain a source of capital for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 214.10 Td (HFSG Holding Company) Tj ET Q q 0 0 0 rg BT 133.08 214.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 196.10 Td (Revolving Cr) Tj ET Q q 0 0 0 rg BT 88.26 196.10 Td (edit Facilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 178.10 Td (The Company has a senior unsecured revolving credit facility \(the "Credit Facility"\) that provides for borrowing capacity up to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.02 178.10 Td ($1.75 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 166.10 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.61 166.10 Td ( \(which is available in U.S. dollars, and in Euro, Sterling, Canadian dollars and Japanese ) Tj ET Q q 0 0 0 rg BT 416.32 166.10 Td (Y) Tj ET Q q 0 0 0 rg BT 422.54 166.10 Td (en\) through January 6, 2016. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.47 166.10 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 154.10 Td (December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 154.10 Td (, there were no borrowings outstanding under the Credit Facility) Tj ET Q q 0 0 0 rg BT 366.60 154.10 Td (. Of the total availability under the Credit Facility) Tj ET Q q 0 0 0 rg BT 567.01 154.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 142.10 Td (up to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 54.28 142.10 Td ($250) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 74.28 142.10 Td ( is available to support letters of credit issued on behalf of the Company or subsidiaries of the Company) Tj ET Q q 0 0 0 rg BT 489.09 142.10 Td (. Under the Credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 130.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 61.40 130.10 Td (, the Company must maintain a minimum level of consolidated net worth of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.46 130.10 Td ($14.9 billion.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.07 130.10 Td ( ) Tj ET Q q 0 0 0 rg BT 425.89 130.10 Td (The definition of consolidated net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 118.10 Td (worth under the terms of the Credit Facility) Tj ET Q q 0 0 0 rg BT 204.98 118.10 Td (, excludes ) Tj ET Q q 0 0 0 rg BT 246.91 118.10 Td (AOCI and includes the Company's outstanding junior subordinated debentures ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 106.10 Td (and, if any) Tj ET Q q 0 0 0 rg BT 73.34 106.10 Td (, perpetual preferred securities, net of discount. In addition, the Company) Tj ET Q q 0 0 0 rg BT 371.86 106.10 Td (s maximum ratio of consolidated total debt to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 94.10 Td (consolidated total capitalization is limited to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 211.46 94.10 Td (35%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 229.79 94.10 Td (, and the ratio of consolidated total debt of subsidiaries to consolidated total ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 82.10 Td (capitalization is limited to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 138.14 82.10 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.47 82.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.92 82.10 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.95 82.10 Td (, the Company was in compliance with all financial covenants under the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 70.10 Td (Credit Facility) Tj ET Q q 0 0 0 rg BT 88.90 70.10 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (13. Debt \(continued\)) Tj ET Q endstream endobj 427 0 obj <> endobj 428 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-77) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (HLIKK has four revolving credit facilities in support of operations. ) Tj ET Q q 0 0 0 rg BT 305.69 713.10 Td (T) Tj ET Q q 0 0 0 rg BT 311.10 713.10 Td (wo of the credit facilities have no amounts drawn as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 701.10 Td ( with borrowing limits of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.39 701.10 Td (5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 312.01 701.10 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.84 701.10 Td ($48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.84 701.10 Td ( each, and individually have expiration dates of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.72 701.10 Td (January5, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 689.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.94 689.10 Td (September30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.20 689.10 Td (. In December 2013, HLIKK entered into two new revolving credit facility agreements with two Japanese ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (banks in order to finance certain withholding taxes on mutual fund gains, that are subsequently credited to HLIKK's tax liability when ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (HLIKK files its) Tj ET Q q 0 0 0 rg BT 96.86 665.10 Td ( income tax returns. ) Tj ET Q q 0 0 0 rg BT 180.72 665.10 Td (At December 31, 2013, HLIKK had drawn the total borrowing limits of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.60 665.10 Td (5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.22 665.10 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.05 665.10 Td ($48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.05 665.10 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.99 665.10 Td (20 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.61 653.10 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 73.44 653.10 Td ($190) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 93.44 653.10 Td ( on these credit facilities. ) Tj ET Q q 0 0 0 rg BT 198.50 653.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.55 653.10 Td (5 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.16 653.10 Td ( credit facility accrues interest at a variable rate based on the one month ) Tj ET Q q 0 0 0 rg BT 544.30 653.10 Td (T) Tj ET Q q 0 0 0 rg BT 549.71 653.10 Td (okyo ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (Interbank Of) Tj ET Q q 0 0 0 rg BT 82.69 641.10 Td (fering Rate \(TIBOR\) plus 3 bps, which as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.21 641.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.79 641.10 Td ( the interest rate was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.48 641.10 Td (18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.48 641.10 Td ( bps, and the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.53 641.10 Td (20 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.14 641.10 Td ( credit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.10 Td (facility accrues interest at a variable rate based on ) Tj ET Q q 0 0 0 rg BT 233.16 629.10 Td (TIBOR plus 3 bps, or the actual cost of funding, which as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.29 629.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.87 629.10 Td ( the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.10 Td (interest rate was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 98.97 617.10 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 108.97 617.10 Td ( bps. Both of the credit facilities expire on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.54 617.10 Td (September 30, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.80 617.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (Commer) Tj ET Q q 0 0 0 rg BT 69.08 599.10 Td (cial Paper) Tj ET Q q 0 0 0 rg BT 111.94 599.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.10 Td (While ) Tj ET Q q 0 0 0 rg BT 58.25 581.10 Td (The Hartford's maximum borrowings available under its commercial paper program are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 411.32 581.10 Td ($2.0 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.43 581.10 Td (, the Company is dependent ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (upon market conditions to access short-term financing through the issuance of commercial paper to investors. ) Tj ET Q q 0 0 0 rg BT 474.81 569.10 Td (There is no commercial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (paper outstanding as of December 31, 2013.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 542.10 Td (Consumer) Tj ET Q q 0 0 0 rg BT 75.76 542.10 Td ( Notes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 524.10 Td (The Company issued consumer notes through its Retail Investor Notes Program prior to 2009. ) Tj ET Q q 0 0 0 rg BT 412.56 524.10 Td (A) Tj ET Q q 0 0 0 rg BT 419.23 524.10 Td ( consumer note is an investment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 512.10 Td (product distributed through broker) Tj ET Q q 0 0 0 rg BT 169.33 512.10 Td (-dealers directly to retail investors as medium-term, publicly traded fixed or floating rate, or a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 500.10 Td (combination of fixed and floating rate notes. Consumer notes are part of the Company) Tj ET Q q 0 0 0 rg BT 381.69 500.10 Td (s spread-based business and proceeds are used to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 488.10 Td (purchase investment products, primarily fixed rate bonds. Proceeds are not used for general operating purposes. Consumer notes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 476.10 Td (maturities may extend up to 30years and have contractual coupons based upon varying interest rates or indexes \(e.g. consumer price ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 464.10 Td (index\) and may include a call provision that allows the Company to extinguish the notes prior to its scheduled maturity date. Certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 452.10 Td (Consumer notes may be redeemed by the holder in the event of death. Redemptions are subject to certain limitations, including calendar ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 440.10 Td (year aggregate and individual limits. ) Tj ET Q q 0 0 0 rg BT 182.66 440.10 Td (The aggregate limit is equal to the greater of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.87 440.10 Td ($1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.87 440.10 Td ( or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.20 440.10 Td (1%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 399.53 440.10 Td ( of the aggregate principal amount of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 428.10 Td (notes as of the end of the prior year) Tj ET Q q 0 0 0 rg BT 172.56 428.10 Td (. ) Tj ET Q q 0 0 0 rg BT 179.88 428.10 Td (The individual limit is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.54 428.10 Td ($250) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.54 428.10 Td ( thousand per individual. Derivative instruments are utilized to hedge ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 416.10 Td (the Company) Tj ET Q q 0 0 0 rg BT 87.88 416.10 Td (s exposure to market risks in accordance with Company policy) Tj ET Q q 0 0 0 rg BT 338.56 416.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.50 416.10 Td (As of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.53 416.10 Td (, these consumer notes have ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 404.10 Td (interest rates ranging from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 139.80 404.10 Td (4%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.13 404.10 Td ( to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.90 404.10 Td (6%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.23 404.10 Td ( for fixed notes and, for variable notes, based on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.73 404.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.31 404.10 Td ( rates, either consumer price ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 392.10 Td (index plus ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 75.39 392.10 Td (102) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.39 392.10 Td ( to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.17 392.10 Td (247) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 118.17 392.10 Td ( basis points, or indexed to the S&P) Tj ET Q q 0 0 0 rg BT 261.12 392.10 Td ( 500, Dow Jones Industrials, or the Nikkei 225. ) Tj ET Q q 0 0 0 rg BT 455.09 392.10 Td (The aggregate maturities of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 380.10 Td (Consumer Notes are as follows: ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.75 380.10 Td ($14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.75 380.10 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.53 380.10 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 209.53 380.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.53 380.10 Td ($32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 229.53 380.10 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.31 380.10 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 262.31 380.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.31 380.10 Td ($18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.31 380.10 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.09 380.10 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.09 380.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.09 380.10 Td ($12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.09 380.10 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.87 380.10 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.87 380.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.87 380.10 Td ($8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.87 380.10 Td ( thereafter) Tj ET Q q 0 0 0 rg BT 423.12 380.10 Td (. For ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.01 380.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.01 380.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.01 380.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.01 380.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.45 380.10 Td (201) Tj ET Q q 0 0 0 rg BT 526.08 380.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.08 380.10 Td (, interest ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 368.10 Td (credited to holders of consumer notes was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.29 368.10 Td ($6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 212.29 368.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 217.29 368.10 Td ($10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.29 368.10 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.22 368.10 Td ($15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.22 368.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 321.89 368.10 Td (.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 348.90 Td (14) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 42.50 348.90 Td (. ) Tj ET Q q 0 0 0 rg BT 48.00 348.90 Td (Income ) Tj ET Q q 0 0 0 rg BT 85.38 348.90 Td (T) Tj ET Q q 0 0 0 rg BT 91.70 348.90 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 331.90 Td (Income \(loss\)from continuing operations before income taxes included income \(loss\)from domestic operations of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.21 331.90 Td ($276) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.21 331.90 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.21 331.90 Td ($\(1,267\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.37 331.90 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 319.90 Td ($344) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 319.90 Td ( for the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 132.85 319.90 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 188.94 319.90 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.44 319.90 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 211.44 319.90 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 216.44 319.90 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 236.44 319.90 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 255.88 319.90 Td (201) Tj ET Q q 0 0 0 rg BT 270.50 319.90 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.50 319.90 Td (, and income \(loss\)from foreign operations of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.40 319.90 Td ($\(213\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.06 319.90 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.06 319.90 Td ($686) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.06 319.90 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.50 319.90 Td ($\(144\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.16 319.90 Td ( for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 307.90 Td (the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 96.19 307.90 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 152.28 307.90 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.78 307.90 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.78 307.90 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.78 307.90 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.78 307.90 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.21 307.90 Td (201) Tj ET Q q 0 0 0 rg BT 233.84 307.90 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.84 307.90 Td (. Substantially all of the income \(loss\)from foreign operations is earned by a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 295.90 Td (Japanese subsidiary) Tj ET Q q 0 0 0 rg BT 110.00 295.90 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 277.90 Td (The provision \(benefit\)for income taxes consists of the following:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 232.40 336.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 232.40 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 232.40 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 232.40 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 204.40 336.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 204.40 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 204.40 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 204.40 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 177.40 336.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 177.40 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 177.40 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 177.40 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 148.40 336.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 148.40 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 148.40 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 148.40 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 121.40 336.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 368.00 121.40 71.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 439.00 121.40 71.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 510.00 121.40 71.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 247.39999999999998 m 439 247.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 247.39999999999998 m 510 247.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 247.39999999999998 m 581 247.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 232.39999999999998 m 439 232.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 232.39999999999998 m 510 232.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 232.39999999999998 m 581 232.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 190.39999999999998 m 581 190.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 190.39999999999998 m 368 190.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 177.39999999999998 m 368 177.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 190.39999999999998 m 439 190.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 177.39999999999998 m 439 177.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 190.39999999999998 m 510 190.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 177.39999999999998 m 510 177.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 177.39999999999998 m 581 177.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 134.39999999999998 m 368 134.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 134.39999999999998 m 439 134.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 134.39999999999998 m 510 134.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 134.39999999999998 m 581 134.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 121.39999999999998 m 368 121.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 108.39999999999998 m 368 108.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 121.39999999999998 m 439 121.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 368 108.39999999999998 m 439 108.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 121.39999999999998 m 510 121.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439 108.39999999999998 m 510 108.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 121.39999999999998 m 581 121.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 510 108.39999999999998 m 581 108.39999999999998 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 251.85 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 408.65 251.85 Td (For the years ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 236.85 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 394.00 236.85 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.00 236.85 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 536.20 236.85 Td (2011) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 223.08 Td (Income Tax Expense \(Benefit\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.50 222.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.50 222.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.50 222.97 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 208.97 Td (Current - U.S. Federal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.50 208.97 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.15 208.97 Td (219) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.50 208.97 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.15 208.97 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.50 208.97 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 208.97 Td (\(543) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 208.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.50 194.97 Td ( International) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.15 194.97 Td (89) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.15 194.97 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 194.97 Td (22) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 181.13 Td (Total current) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 420.15 181.13 Td (308) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 496.15 181.13 Td (39) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.80 181.13 Td (\(521) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 181.13 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 167.97 Td (Deferred - U.S. Federal Excluding NOL Carryforward) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.80 168.02 Td (\(233) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.15 167.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 168.02 Td (\(377) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 167.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 167.97 Td (921) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 153.07 Td ( U.S. Net Operating Loss Carryforward) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.80 153.12 Td (\(86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.15 153.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.80 153.12 Td (\(301) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.15 153.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 153.07 Td (\(652) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 153.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 138.97 Td ( International) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.80 139.02 Td (\(236) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.15 138.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 491.15 138.97 Td (158) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.80 138.97 Td (\(121) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 138.97 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 125.13 Td (Total deferred) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.80 125.18 Td (\(555) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 435.15 125.13 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.80 125.18 Td (\(520) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.15 125.13 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 125.13 Td (148) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 112.13 Td (Total income tax benefit) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 370.50 112.13 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.80 112.18 Td (\(247) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 435.15 112.13 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.50 112.13 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.80 112.18 Td (\(481) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 506.15 112.13 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 512.50 112.13 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.80 112.13 Td (\(373) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 112.13 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (13. Debt \(continued\)) Tj ET Q endstream endobj 429 0 obj <> endobj 430 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 69.53 713.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 84.24 713.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 110.07 713.10 Td (\(liabilities\)include ) Tj ET Q q 0 0 0 rg BT 188.38 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 203.10 713.10 Td (following: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 667.60 405.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 667.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 667.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 639.60 405.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 639.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 639.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 611.60 405.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 611.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 611.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 583.60 405.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 583.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 583.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 555.60 405.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 555.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 555.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 527.60 405.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 527.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 527.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 500.60 405.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 500.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 500.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 473.60 405.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 473.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 473.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 445.60 405.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 445.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 445.60 71.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 417.60 405.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 417.60 71.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 508.00 417.60 71.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 681.6 m 437 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 681.6 m 508 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 681.6 m 579 681.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 667.6 m 437 667.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 667.6 m 508 667.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 667.6 m 579 667.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 667.6 m 508 667.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 667.6 m 579 667.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 513.6 m 437 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 513.6 m 508 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 513.6 m 579 513.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 486.6 m 437 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 473.6 m 437 473.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 486.6 m 508 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 473.6 m 508 473.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 486.6 m 579 486.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 473.6 m 579 473.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 417.6 m 437 417.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 417.6 m 508 417.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 417.6 m 579 417.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 404.6 m 437 404.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 391.6 m 437 391.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 404.6 m 508 404.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 391.6 m 508 391.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 508 404.6 m 579 404.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 508 391.6 m 579 391.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 470.30 686.05 Td (As of December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 672.05 Td (Deferred Tax Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 463.00 672.05 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 534.00 672.05 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 658.17 Td (Tax discount on loss reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 658.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 658.17 Td (632) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.50 658.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 658.17 Td (621) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 644.17 Td (Tax basis deferred policy acquisition costs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 644.17 Td (207) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 644.17 Td (481) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 630.17 Td (Unearned premium reserve and other underwriting related reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 630.17 Td (434) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 630.17 Td (414) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 616.17 Td (Investment-related items) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.65 616.17 Td (1,641) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.65 616.17 Td (1,525) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 602.17 Td (Insurance product derivatives) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.15 602.17 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 602.17 Td (454) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 588.17 Td (Employee benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 588.17 Td (523) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 588.17 Td (599) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 574.17 Td (Minimum tax credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 574.17 Td (823) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 574.17 Td (860) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 560.17 Td (Net operating loss carryover) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.65 560.17 Td (1,093) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.65 560.17 Td (1,007) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 546.17 Td (Foreign tax credit carryover) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 546.17 Td (163) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 546.17 Td (149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 532.17 Td (Capital loss carryover) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.15 532.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 570.15 532.17 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 518.17 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.15 518.17 Td (63) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 518.17 Td (118) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 504.33 Td (Total Deferred Tax Assets) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 481.65 504.33 Td (5,592) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 552.65 504.33 Td (6,233) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 491.17 Td (Valuation Allowance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.80 491.22 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 491.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.80 491.17 Td (\(58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 491.17 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 477.33 Td (Deferred Tax Assets, Net of Valuation Allowance) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 481.65 477.33 Td (5,588) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 552.65 477.33 Td (6,175) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 464.28 Td (Deferred Tax Liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 450.17 Td (Financial statement deferred policy acquisition costs and reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 450.22 Td (\(894) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 450.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.30 450.17 Td (\(1,694) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 450.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 436.17 Td (Net unrealized gains on investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 436.22 Td (\(669) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 436.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.30 436.17 Td (\(2,396) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 436.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 422.17 Td (Other depreciable and amortizable assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.80 422.22 Td (\(185) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 422.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.80 422.17 Td (\(143) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 422.17 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 408.33 Td (Total Deferred Tax Liabilities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 478.30 408.38 Td (\(1,748) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.15 408.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.30 408.33 Td (\(4,233) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 575.15 408.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 52.50 395.33 Td (Net Deferred Tax Asset) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.50 395.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 481.65 395.33 Td (3,840) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 510.50 395.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 552.65 395.33 Td (1,942) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 374.10 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 58.44 374.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 137.03 374.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 156.47 374.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.47 374.10 Td (, the net deferred tax asset included the expected tax benefit attributable to net operating losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 362.10 Td ($3,123) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 362.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 78.44 362.10 Td ($2,946) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 105.94 362.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 158.60 362.10 Td (, consisting of U.S. losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.99 362.10 Td ($3,123) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.49 362.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.93 362.10 Td ($2,725) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.43 362.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 402.09 362.10 Td (, and foreign losses of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.63 362.10 Td ($0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.63 362.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.07 362.10 Td ($221) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.07 362.10 Td (. ) Tj ET Q q 0 0 0 rg BT 546.89 362.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 350.10 Td (U.S. losses expire as follows: ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.77 350.10 Td ($12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 166.77 350.10 Td ( from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 191.21 350.10 Td (2014-2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.54 350.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.54 350.10 Td ($3,1) Tj ET Q q 0 0 0 rg BT 256.67 350.10 Td (1) Tj ET Q q 0 0 0 rg BT 261.29 350.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.29 350.10 Td ( from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.73 350.10 Td (2026-2032) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 334.06 350.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 332.10 Td (The Company has recorded a deferred tax asset valuation allowance that is adequate to reduce the total deferred tax asset to an amount ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 320.10 Td (that will be more likely than not realized. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 302.10 Td (The deferred tax asset valuation allowance was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.80 302.10 Td ($4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.80 302.10 Td ( as of December 31, 2013 relating mostly to U.S. net operating losses and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.69 302.10 Td ($58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.69 302.10 Td ( as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 290.10 Td (December 31, 2012 relating mostly to foreign net operating losses. ) Tj ET Q q 0 0 0 rg BT 303.20 290.10 Td (The change in the valuation allowance is primarily related to the sale ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 278.10 Td (of the U.K. variable annuity business. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 260.10 Td (In assessing the need for a valuation allowance, management considered future taxable temporary dif) Tj ET Q q 0 0 0 rg BT 436.16 260.10 Td (ference reversals, future taxable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 248.10 Td (income exclusive of reversing temporary dif) Tj ET Q q 0 0 0 rg BT 208.76 248.10 Td (ferences and carryforwards, taxable income in open carry back years, as well as other tax ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 236.10 Td (planning strategies. ) Tj ET Q q 0 0 0 rg BT 111.58 236.10 Td (These tax planning strategies include holding a portion of debt securities with market value losses until recovery) Tj ET Q q 0 0 0 rg BT 560.81 236.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 224.10 Td (altering the level of tax exempt securities, selling appreciated securities to of) Tj ET Q q 0 0 0 rg BT 337.87 224.10 Td (fset capital losses, business considerations such as asset-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 212.10 Td (liability matching, and the sales of certain corporate assets. Management views such tax planning strategies as prudent and feasible, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 200.10 Td (would implement them, if necessary) Tj ET Q q 0 0 0 rg BT 176.09 200.10 Td (, to realize the deferred tax asset. In 201) Tj ET Q q 0 0 0 rg BT 338.15 200.10 Td (1, the Company released ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 200.10 Td ($86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.50 200.10 Td (, or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.33 200.10 Td (100%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.66 200.10 Td ( of the valuation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 188.10 Td (allowance associated with realized capital losses based on the availability of additional tax planning strategies. Future economic ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 176.10 Td (conditions and debt market volatility) Tj ET Q q 0 0 0 rg BT 178.04 176.10 Td (, including increases in interest rates, can adversely impact the Company) Tj ET Q q 0 0 0 rg BT 471.84 176.10 Td (s tax planning strategies ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 164.10 Td (and in particular the Company) Tj ET Q q 0 0 0 rg BT 155.91 164.10 Td (s ability to utilize tax benefits on previously recognized realized capital losses.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 146.10 Td (Included in Other liabilities in the Consolidated Balance Sheets as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.49 146.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.07 146.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.51 146.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.51 146.10 Td ( are net deferred tax liabilities related ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 134.10 Td (to Japan of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.88 134.10 Td ($61) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.88 134.10 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 117.32 134.10 Td (376) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 132.32 134.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 184.98 134.10 Td (. ) Tj ET Q q 0 0 0 rg BT 192.30 134.10 Td (The net deferred tax liability of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.02 134.10 Td ($61) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.02 134.10 Td ( as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.18 134.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.76 134.10 Td ( was comprised of taxes on future ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 122.10 Td (taxable income related to owed reinsurance recoverables, loss reserves and foreign currency translation adjustments. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 104.10 Td (The December 31, 2012 net deferred tax liability is comprised of a gross deferred tax asset of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.48 104.10 Td ($274) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.48 104.10 Td ( related to tax discount on loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 92.10 Td (reserves and a gross deferred tax liability of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 209.21 92.10 Td ($650) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 229.21 92.10 Td (, comprised primarily of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.91 92.10 Td ($331) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.91 92.10 Td ( for deferred policy acquisition costs and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.69 92.10 Td ($197) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.69 92.10 Td ( for foreign ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 80.10 Td (currency translation adjustments. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 62.10 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 62.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 62.10 Td ( the Company had a current income tax receivable of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.88 62.10 Td ($72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.88 62.10 Td (, of which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.65 62.10 Td ($70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.65 62.10 Td ( was a payable related to Japan and due ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 50.10 Td (to a foreign jurisdiction. ) Tj ET Q q 0 0 0 rg BT 130.09 50.10 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 154.54 50.10 Td (December31, 2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 233.12 50.10 Td ( the Company had a current income tax receivable of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.48 50.10 Td ($19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.48 50.10 Td (, of which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.25 50.10 Td ($1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.25 50.10 Td ( was related to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 38.10 Td (Japan and due from a foreign jurisdiction.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (14. Income ) Tj ET Q q 0 0 0 rg BT 85.88 731.80 Td (T) Tj ET Q q 0 0 0 rg BT 92.20 731.80 Td (axes \(continued\)) Tj ET Q endstream endobj 431 0 obj <> endobj 432 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions, as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (applicable. ) Tj ET Q q 0 0 0 rg BT 77.41 701.10 Td (The Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations for years prior to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (2007. ) Tj ET Q q 0 0 0 rg BT 56.32 689.10 Td (The audit of the years 2007-201) Tj ET Q q 0 0 0 rg BT 183.97 689.10 Td (1are expected to conclude in 2015, with no material impact on the consolidated financial condition ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (or results of operations. In addition, in 201) Tj ET Q q 0 0 0 rg BT 201.93 677.10 Td (1 the Company recorded a tax benefit of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.76 677.10 Td ($52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.76 677.10 Td ( as a result of a resolution of a tax matter with the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (IRS for the computation of the dividends-received deduction \(DRD\) for years 1998, 2000 and 2001. Management believes that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.10 Td (adequate provision has been made in the financial statements for any potential assessments that may result from tax examinations and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.10 Td (other tax-related matters for all open tax years.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 623.10 Td (s unrecognized tax benefits were unchanged during the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.88 623.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.47 623.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.47 623.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.47 623.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.91 623.10 Td (201) Tj ET Q q 0 0 0 rg BT 501.53 623.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.53 623.10 Td (, remaining at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.29 623.10 Td ($48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 579.29 623.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.16 611.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 131.74 611.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.18 611.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.18 611.10 Td (. ) Tj ET Q q 0 0 0 rg BT 176.00 611.10 Td (This entire amount, if it were recognized, would af) Tj ET Q q 0 0 0 rg BT 379.08 611.10 Td (fect the ef) Tj ET Q q 0 0 0 rg BT 418.87 611.10 Td (fective tax rate in the period it is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (released.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 582.10 Td (The Company classifies interest and penalties \(if applicable\) as income tax expense in the consolidated financial statements. ) Tj ET Q q 0 0 0 rg BT 530.60 582.10 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 570.10 Td (Company recognized interest income \(expense\) of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 235.31 570.10 Td ($5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.31 570.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.31 570.10 Td ($0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.31 570.10 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.25 570.10 Td ($5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.25 570.10 Td ( during the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.05 570.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.64 570.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.14 570.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.14 570.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.58 570.10 Td (201) Tj ET Q q 0 0 0 rg BT 528.20 570.10 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.20 570.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 558.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 558.10 Td (. ) Tj ET Q q 0 0 0 rg BT 86.48 558.10 Td (The Company had approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.11 558.10 Td ($1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 233.11 558.10 Td ( of interest payable and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 328.91 558.10 Td ($1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.91 558.10 Td ( of interest receivable accrued as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.99 558.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 561.58 558.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 546.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 546.10 Td (, respectively) Tj ET Q q 0 0 0 rg BT 104.16 546.10 Td (. ) Tj ET Q q 0 0 0 rg BT 108.98 546.10 Td (The Company does not believe it would be subject to any penalties in any open tax years and, therefore, has not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 534.10 Td (booked any accrual for penalties.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 516.10 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 516.10 Td ( reconciliation of the tax provision at the U.S. Federal statutory rate to the provision for income taxes is as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 475.60 332.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 475.60 71.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 475.60 71.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 475.60 71.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 451.60 332.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 451.60 71.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 451.60 71.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 451.60 71.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 427.60 332.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 427.60 71.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 427.60 71.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 506.00 427.60 71.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 487.6 m 435 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 487.6 m 506 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 487.6 m 577 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 487.6 m 435 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 475.6 m 435 475.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 487.6 m 506 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 475.6 m 506 475.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 487.6 m 577 487.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 475.6 m 577 475.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 475.6 m 435 475.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 475.6 m 506 475.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 475.6 m 577 475.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 415.6 m 364 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 403.6 m 364 403.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 364 415.6 m 435 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 403.6 m 435 403.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435 415.6 m 506 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 403.6 m 506 403.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 506 415.6 m 577 415.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 403.6 m 577 403.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.65 491.00 Td (For the years ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 390.00 479.00 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 461.00 479.00 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 532.20 479.00 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 466.22 Td (Tax provision \(benefit\) at U.S. Federal statutory rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.50 466.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 466.22 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 466.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.80 466.22 Td (\(203) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 466.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.50 466.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.15 466.22 Td (70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 454.22 Td (Tax-exempt interest) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.80 454.22 Td (\(138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 454.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.80 454.22 Td (\(141) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 454.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.80 454.22 Td (\(148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 573.15 454.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 442.22 Td (Dividends received deduction) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.80 442.22 Td (\(139) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 442.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.80 442.22 Td (\(145) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 442.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.80 442.22 Td (\(206) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 573.15 442.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 430.22 Td (Valuation allowance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.80 430.22 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 430.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 430.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 559.80 430.22 Td (\(85) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 573.15 430.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 418.22 Td (Other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 418.22 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 418.22 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.80 418.22 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 573.15 418.22 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 406.33 Td (Provision \(benefit\) for income taxes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 366.50 406.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.80 406.38 Td (\(247) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.15 406.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 406.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.80 406.38 Td (\(481) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 502.15 406.33 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 508.50 406.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.80 406.33 Td (\(373) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 573.15 406.33 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (14. Income ) Tj ET Q q 0 0 0 rg BT 85.88 731.80 Td (T) Tj ET Q q 0 0 0 rg BT 92.20 731.80 Td (axes \(continued\)) Tj ET Q endstream endobj 433 0 obj <> endobj 434 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-80) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (15) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 42.50 712.60 Td (. ) Tj ET Q q 0 0 0 rg BT 48.00 712.60 Td (Commitments ) Tj ET Q q 0 0 0 rg BT 117.35 712.60 Td (and ) Tj ET Q q 0 0 0 rg BT 137.83 712.60 Td (Contingencies) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 695.55 Td (Contingencies ) Tj ET Q q 0 0 0 rg BT 94.00 695.55 Td (Relating ) Tj ET Q q 0 0 0 rg BT 132.61 695.55 Td (to ) Tj ET Q q 0 0 0 rg BT 143.44 695.55 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 190.37 695.55 Td (Litigation ) Tj ET Q q 0 0 0 rg BT 235.09 695.55 Td (and ) Tj ET Q q 0 0 0 rg BT 253.72 695.55 Td (Regulatory ) Tj ET Q q 0 0 0 rg BT 303.99 695.55 Td (Matters) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.55 Td (Management evaluates each contingent matter separately) Tj ET Q q 0 0 0 rg BT 259.36 677.55 Td (. ) Tj ET Q q 0 0 0 rg BT 263.80 677.55 Td (A) Tj ET Q q 0 0 0 rg BT 270.47 677.55 Td ( loss is recorded if probable and reasonably estimable. Management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.55 Td (establishes liabilities for these contingencies at its best estimate, or) Tj ET Q q 0 0 0 rg BT 307.13 665.55 Td (, if no one number within the range of possible losses is more ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.55 Td (probable than any other) Tj ET Q q 0 0 0 rg BT 125.79 653.55 Td (, the Company records an estimated liability at the low end of the range of losses.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 635.55 Td (Litigation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.55 Td (The Hartford is involved in claims litigation arising in the ordinary course of business, both as a liability insurer defending or providing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.55 Td (indemnity for third-party claims brought against insureds and as an insurer defending coverage claims brought against it. ) Tj ET Q q 0 0 0 rg BT 517.30 605.55 Td (The Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.55 Td (accounts for such activity through the establishment of unpaid loss and loss adjustment expense reserves. Subject to the uncertainties ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.55 Td (discussed below under the caption Asbestos and Environmental Claims, management expects that the ultimate liability) Tj ET Q q 0 0 0 rg BT 514.89 581.55 Td (, if any) Tj ET Q q 0 0 0 rg BT 542.29 581.55 Td (, with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.55 Td (respect to such ordinary-course claims litigation, after consideration of provisions made for potential losses and costs of defense, will not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.55 Td (be material to the consolidated financial condition, results of operations or cash flows of ) Tj ET Q q 0 0 0 rg BT 387.05 557.55 Td (The Hartford.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.55 Td (The Hartford is also involved in other kinds of legal actions, some of which assert claims for substantial amounts. ) Tj ET Q q 0 0 0 rg BT 488.72 533.55 Td (These actions include, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.55 Td (among others, and in addition to the matters described below) Tj ET Q q 0 0 0 rg BT 274.68 521.55 Td (, putative state and federal class actions seeking certification of a state or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.55 Td (national class. Such putative class actions have alleged, for example, underpayment of claims or improper underwriting practices in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.55 Td (connection with various kinds of insurance policies, such as personal and commercial automobile, property) Tj ET Q q 0 0 0 rg BT 459.90 497.55 Td (, life and inland marine; ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.55 Td (improper sales practices in connection with the sale of life insurance and other investment products; and improper fee arrangements in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.55 Td (connection with investment products. ) Tj ET Q q 0 0 0 rg BT 183.79 473.55 Td (The Hartford also is involved in individual actions in which punitive damages are sought, such as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.55 Td (claims alleging bad faith in the handling of insurance claims. Like many other insurers, ) Tj ET Q q 0 0 0 rg BT 382.89 461.55 Td (The Hartford also has been joined in actions by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.55 Td (asbestos plaintif) Tj ET Q q 0 0 0 rg BT 96.03 449.55 Td (fs asserting, among other things, that insurers had a duty to protect the public from the dangers of asbestos and that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.55 Td (insurers committed unfair trade practices by asserting defenses on behalf of their policyholders in the underlying asbestos cases. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.55 Td (Management expects that the ultimate liability) Tj ET Q q 0 0 0 rg BT 216.63 425.55 Td (, if any) Tj ET Q q 0 0 0 rg BT 244.02 425.55 Td (, with respect to such lawsuits, after consideration of provisions made for estimated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.55 Td (losses, will not be material to the consolidated financial condition of ) Tj ET Q q 0 0 0 rg BT 307.36 413.55 Td (The Hartford. Nonetheless, given the lar) Tj ET Q q 0 0 0 rg BT 468.52 413.55 Td (ge or indeterminate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.55 Td (amounts sought in certain of these actions, and the inherent unpredictability of litigation, the outcome in certain matters could, from time ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.55 Td (to time, have a material adverse ef) Tj ET Q q 0 0 0 rg BT 168.75 389.55 Td (fect on the Company's results of operations or cash flows in particular quarterly or annual periods.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.55 Td (Apart from the inherent dif) Tj ET Q q 0 0 0 rg BT 139.62 365.55 Td (ficulty of predicting litigation outcomes, the Mutual Funds Litigation identified below purports to seek ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.55 Td (substantial damages for unsubstantiated conduct spanning a multi-year period based on novel applications of complex legal theories. ) Tj ET Q q 0 0 0 rg BT 564.51 353.55 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.55 Td (alleged damages are not quantified or factually supported in the complaint, and, in any event, the Company's experience shows that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.55 Td (demands for damages often bear little relation to a reasonable estimate of potential loss. ) Tj ET Q q 0 0 0 rg BT 384.81 329.55 Td (The matter is in the earliest stages of litigation, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.55 Td (with no substantive legal decisions by the court defining the scope of the claims or the potentially available damages; fact discovery is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.55 Td (also in its early stages. ) Tj ET Q q 0 0 0 rg BT 123.71 305.55 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 173.04 305.55 Td (, management cannot reasonably estimate the possible loss or range of loss, if any) Tj ET Q q 0 0 0 rg BT 499.81 305.55 Td (, or predict the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.55 Td (timing of the eventual resolution of this matter) Tj ET Q q 0 0 0 rg BT 217.30 293.55 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 269.55 Td (Mutual Funds Litigation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.84 269.55 Td ( - In February 201) Tj ET Q q 0 0 0 rg BT 202.23 269.55 Td (1, a derivative action was brought on behalf of six Hartford retail mutual funds in the United ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.55 Td (States District Court for the District of New Jersey) Tj ET Q q 0 0 0 rg BT 233.58 257.55 Td (, alleging that Hartford Investment Financial Services, LLC \(HIFSCO\), an indirect ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.55 Td (subsidiary of the Company) Tj ET Q q 0 0 0 rg BT 138.89 245.55 Td (, received excessive advisory and distribution fees in violation of its statutory fiduciary duty under Section 36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.55 Td (\(b\) of the Investment Company ) Tj ET Q q 0 0 0 rg BT 158.98 233.55 Td (Act of 1940. HIFSCO moved to dismiss and, in September 201) Tj ET Q q 0 0 0 rg BT 414.42 233.55 Td (1, the motion was granted in part and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 221.55 Td (denied in part, with leave to amend the complaint. In November 201) Tj ET Q q 0 0 0 rg BT 307.16 221.55 Td (1, plaintif) Tj ET Q q 0 0 0 rg BT 345.86 221.55 Td (fs filed an amended complaint on behalf of ) Tj ET Q q 0 0 0 rg BT 520.06 221.55 Td (The Hartford ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 209.55 Td (Global Health Fund, ) Tj ET Q q 0 0 0 rg BT 115.75 209.55 Td (The Hartford Conservative ) Tj ET Q q 0 0 0 rg BT 225.44 209.55 Td (Allocation Fund, ) Tj ET Q q 0 0 0 rg BT 295.53 209.55 Td (The Hartford Growth Opportunities Fund, ) Tj ET Q q 0 0 0 rg BT 466.44 209.55 Td (The Hartford Inflation Plus ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 197.55 Td (Fund, ) Tj ET Q q 0 0 0 rg BT 56.88 197.55 Td (The Hartford ) Tj ET Q q 0 0 0 rg BT 111.30 197.55 Td (Advisors Fund, and ) Tj ET Q q 0 0 0 rg BT 192.24 197.55 Td (The Hartford Capital ) Tj ET Q q 0 0 0 rg BT 278.04 197.55 Td (Appreciation Fund. Plaintif) Tj ET Q q 0 0 0 rg BT 390.07 197.55 Td (fs seek to rescind the investment management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 185.55 Td (agreements and distribution plans between HIFSCO and these funds and to recover the total fees char) Tj ET Q q 0 0 0 rg BT 437.59 185.55 Td (ged thereunder or) Tj ET Q q 0 0 0 rg BT 507.71 185.55 Td (, in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 173.55 Td (alternative, to recover any improper compensation HIFSCO received, in addition to lost earnings. HIFSCO filed a partial motion to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 161.55 Td (dismiss the amended complaint and, in December 2012, the court dismissed without prejudice the claims regarding distribution fees and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 149.55 Td (denied the motion with respect to the advisory fees claims. In February 2014, the plaintif) Tj ET Q q 0 0 0 rg BT 386.78 149.55 Td (fs expressed their intent to file a new complaint ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 137.55 Td (that would, among other things, add as new plaintif) Tj ET Q q 0 0 0 rg BT 236.84 137.55 Td (fs ) Tj ET Q q 0 0 0 rg BT 246.38 137.55 Td (The Hartford Floating Rate Fund and ) Tj ET Q q 0 0 0 rg BT 397.83 137.55 Td (The Hartford Small Company Fund and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.55 Td (name as a defendant Hartford Funds Management Company) Tj ET Q q 0 0 0 rg BT 272.17 125.55 Td (, LLC \(HFMC\), which assumed the role as advisor to the funds as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.55 Td (January 2013. HFMC and HIFSCO dispute the allegations and intend to defend vigorously) Tj ET Q q 0 0 0 rg BT 396.92 113.55 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.55 Td ( ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 435 0 obj <> endobj 436 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-81) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Asbestos and Envir) Tj ET Q q 0 0 0 rg BT 114.12 713.25 Td (onmental Claims) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The Company continues to receive asbestos and environmental claims. ) Tj ET Q q 0 0 0 rg BT 316.98 695.25 Td (Asbestos claims relate primarily to bodily injuries asserted by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (people who came in contact with asbestos or products containing asbestos. Environmental claims relate primarily to pollution and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (related clean-up costs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (The Company wrote several dif) Tj ET Q q 0 0 0 rg BT 157.95 653.25 Td (ferent categories of insurance contracts that may cover asbestos and environmental claims. First, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (Company wrote primary policies providing the first layer of coverage in an insured) Tj ET Q q 0 0 0 rg BT 366.96 641.25 Td (s liability program. Second, the Company wrote ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (excess policies providing higher layers of coverage for losses that exhaust the limits of underlying coverage. ) Tj ET Q q 0 0 0 rg BT 467.58 629.25 Td (Third, the Company acted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (as a reinsurer assuming a portion of those risks assumed by other insurers writing primary) Tj ET Q q 0 0 0 rg BT 390.78 617.25 Td (, excess and reinsurance coverages. Fourth, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (subsidiaries of the Company participated in the London Market, writing both direct insurance and assumed reinsurance business.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (Significant uncertainty limits the ability of insurers and reinsurers to estimate the ultimate reserves necessary for unpaid losses and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (expenses related to environmental and particularly asbestos claims. ) Tj ET Q q 0 0 0 rg BT 302.62 575.25 Td (The degree of variability of reserve estimates for these exposures is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (significantly greater than for other more traditional exposures.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (In the case of the reserves for asbestos exposures, factors contributing to the high degree of uncertainty include inadequate loss ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 533.25 Td (development patterns, plaintif) Tj ET Q q 0 0 0 rg BT 151.01 533.25 Td (fs) Tj ET Q q 0 0 0 rg BT 160.82 533.25 Td ( expanding theories of liability) Tj ET Q q 0 0 0 rg BT 282.92 533.25 Td (, the risks inherent in major litigation, and inconsistent emer) Tj ET Q q 0 0 0 rg BT 523.52 533.25 Td (ging legal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.25 Td (doctrines. Furthermore, over time, insurers, including the Company) Tj ET Q q 0 0 0 rg BT 301.07 521.25 Td (, have experienced significant changes in the rate at which asbestos ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (claims are brought, the claims experience of particular insureds, and the value of claims, making predictions of future exposure from ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.25 Td (past experience uncertain. Plaintif) Tj ET Q q 0 0 0 rg BT 167.37 497.25 Td (fs and insureds also have sought to use bankruptcy proceedings, including pre-packaged ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.25 Td (bankruptcies, to accelerate and increase loss payments by insurers. In addition, some policyholders have asserted new classes of claims ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.25 Td (for coverages to which an aggregate limit of liability may not apply) Tj ET Q q 0 0 0 rg BT 301.05 473.25 Td (. Further uncertainties include insolvencies of other carriers and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.25 Td (unanticipated developments pertaining to the Company) Tj ET Q q 0 0 0 rg BT 255.61 461.25 Td (s ability to recover reinsurance for asbestos and environmental claims. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.25 Td (Management believes these issues are not likely to be resolved in the near future.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.25 Td (In the case of the reserves for environmental exposures, factors contributing to the high degree of uncertainty include expanding theories ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (of liability and damages, the risks inherent in major litigation, inconsistent decisions concerning the existence and scope of coverage for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.25 Td (environmental claims, and uncertainty as to the monetary amount being sought by the claimant from the insured.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (The reporting pattern for assumed reinsurance claims, including those related to asbestos and environmental claims, is much longer than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.25 Td (for direct claims. In many instances, it takes months or years to determine that the policyholder) Tj ET Q q 0 0 0 rg BT 412.59 377.25 Td () Tj ET Q q 0 0 0 rg BT 415.37 377.25 Td (s own obligations have been met and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.25 Td (how the reinsurance in question may apply to such claims. ) Tj ET Q q 0 0 0 rg BT 267.65 365.25 Td (The delay in reporting reinsurance claims and exposures adds to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.25 Td (uncertainty of estimating the related reserves.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.25 Td (It is also not possible to predict changes in the legal and legislative environment and their ef) Tj ET Q q 0 0 0 rg BT 399.55 335.25 Td (fect on the future development of asbestos ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.25 Td (and environmental claims.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.25 Td (Given the factors described above, the Company believes the actuarial tools and other techniques it employs to estimate the ultimate cost ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.25 Td (of claims for more traditional kinds of insurance exposure are less precise in estimating reserves for certain of its asbestos and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.25 Td (environmental exposures. For this reason, the Company principally relies on exposure-based analysis to estimate the ultimate costs of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 269.25 Td (these claims and regularly evaluates new account information in assessing its potential asbestos and environmental exposures. ) Tj ET Q q 0 0 0 rg BT 538.13 269.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.25 Td (Company supplements this exposure-based analysis with evaluations of the Company) Tj ET Q q 0 0 0 rg BT 377.28 257.25 Td (s historical direct net loss and expense paid and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.25 Td (reported experience, and net loss and expense paid and reported experience by calendar and/or report year) Tj ET Q q 0 0 0 rg BT 455.34 245.25 Td (, to assess any emer) Tj ET Q q 0 0 0 rg BT 534.31 245.25 Td (ging ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 233.25 Td (trends, fluctuations or characteristics suggested by the aggregate paid and reported activity) Tj ET Q q 0 0 0 rg BT 393.50 233.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 215.25 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 215.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 215.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.97 215.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.97 215.25 Td (, the Company reported $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 275.88 215.25 Td (1.7 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.00 215.25 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.44 215.25 Td (1.8 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.55 215.25 Td ( of net asbestos reserves and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.62 215.25 Td (276) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.62 215.25 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.06 215.25 Td (297) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.06 215.25 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.25 Td (net environmental reserves, respectively) Tj ET Q q 0 0 0 rg BT 191.90 203.25 Td (. ) Tj ET Q q 0 0 0 rg BT 196.71 203.25 Td (The Company believes that its current asbestos and environmental reserves are appropriate. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 191.25 Td (However) Tj ET Q q 0 0 0 rg BT 67.75 191.25 Td (, analyses of future developments could cause ) Tj ET Q q 0 0 0 rg BT 253.62 191.25 Td (The Hartford to change its estimates and ranges of its asbestos and environmental ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 179.25 Td (reserves, and the ef) Tj ET Q q 0 0 0 rg BT 108.50 179.25 Td (fect of these changes could be material to the Company) Tj ET Q q 0 0 0 rg BT 333.15 179.25 Td (s consolidated operating results and liquidity) Tj ET Q q 0 0 0 rg BT 511.63 179.25 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (15. Commitments and Contingencies \(continued\)) Tj ET Q endstream endobj 437 0 obj <> endobj 438 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-82) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Lease ) Tj ET Q q 0 0 0 rg BT 58.44 713.25 Td (Commitments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The total rental expense on operating leases was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.98 695.25 Td (79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.98 695.25 Td (, $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.98 695.25 Td (105) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.98 695.25 Td (, and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 293.92 695.25 Td (122) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.92 695.25 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.70 695.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.70 695.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.70 695.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.70 695.25 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.64 695.25 Td (201) Tj ET Q q 0 0 0 rg BT 403.27 695.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.27 695.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 460.93 695.25 Td (, which excludes sublease ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (rental income of $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 104.53 683.25 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 109.53 683.25 Td (, $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 119.53 683.25 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 124.53 683.25 Td (, and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.47 683.25 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.47 683.25 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.24 683.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.24 683.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.24 683.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.24 683.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.68 683.25 Td (201) Tj ET Q q 0 0 0 rg BT 253.31 683.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.31 683.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 310.97 683.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (Future minimum lease commitments as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 202.58 665.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.17 665.25 Td ( are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 634.75 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 634.75 88.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 606.75 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 606.75 88.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 578.75 447.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 578.75 88.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 550.75 447.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 550.75 88.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 634.75 m 479 634.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 634.75 m 567 634.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 550.75 m 479 550.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 537.75 m 479 537.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 479 550.75 m 567 550.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 537.75 m 567 537.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 488.85 639.20 Td (Operating Leases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 625.32 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.50 625.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 625.32 Td (59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 611.32 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 611.32 Td (51) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 597.32 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 597.32 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 583.32 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 583.32 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 569.32 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 569.32 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 555.32 Td (Thereafter) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.15 555.32 Td (28) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 541.48 Td (Total minimum lease payments [1]) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 481.50 541.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 548.15 541.48 Td (231) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 521.45 Td ([1] Excludes expected futur) Tj ET Q q 0 0 0 rg BT 130.88 521.45 Td (e minimum sublease income of appr) Tj ET Q q 0 0 0 rg BT 260.28 521.45 Td (oximately $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 302.01 521.45 Td (4) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 306.51 521.45 Td (, $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 315.51 521.45 Td (3) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 320.01 521.45 Td (, $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 329.01 521.45 Td (2) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 333.51 521.45 Td (, $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 342.51 521.45 Td (2) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 347.01 521.45 Td (, $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 356.01 521.45 Td (2) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 360.51 521.45 Td ( and $) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 383.01 521.45 Td (4) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 387.51 521.45 Td (, in ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 401.26 521.45 Td (2014) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 419.26 521.45 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 423.76 521.45 Td (2015) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 441.76 521.45 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 446.26 521.45 Td (2016) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 464.26 521.45 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 468.76 521.45 Td (2017) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 486.76 521.45 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 491.26 521.45 Td (2018) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 509.26 521.45 Td ( and ther) Tj ET Q q 0 0 0 rg BT 541.43 521.45 Td (eafter ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 510.65 Td (r) Tj ET Q q 0 0 0 rg BT 70.67 510.65 Td (espectively) Tj ET Q q 0 0 0 rg BT 109.64 510.65 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 492.65 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 492.65 Td (s lease commitments consist primarily of lease agreements for of) Tj ET Q q 0 0 0 rg BT 350.67 492.65 Td (fice space, data processing, furniture and fixtures, of) Tj ET Q q 0 0 0 rg BT 560.41 492.65 Td (fice ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 480.65 Td (equipment, and transportation equipment that expire at various dates. Capital lease assets are included in property and equipment.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 462.65 Td (Unfunded ) Tj ET Q q 0 0 0 rg BT 76.80 462.65 Td (Commitments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 444.65 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 444.65 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 444.65 Td (, the Company has outstanding commitments totaling ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.62 444.65 Td ($703) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.62 444.65 Td (, of which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.38 444.65 Td ($531) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.38 444.65 Td ( is committed to fund limited ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 432.65 Td (partnership and other alternative investments, which may be called by the partnership during the commitment period to fund the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 420.65 Td (purchase of new investments and partnership expenses. ) Tj ET Q q 0 0 0 rg BT 254.77 420.65 Td (Additionally) Tj ET Q q 0 0 0 rg BT 304.67 420.65 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.67 420.65 Td ($165) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.67 420.65 Td ( is lar) Tj ET Q q 0 0 0 rg BT 351.71 420.65 Td (gely related to commercial whole loans the Company is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 408.65 Td (expecting to fund in the first half of 2014. ) Tj ET Q q 0 0 0 rg BT 201.28 408.65 Td (The remaining outstanding commitments are related to various funding obligations associated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 396.65 Td (with private placement securities.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 378.65 Td (Guaranty Fund and Other) Tj ET Q q 0 0 0 rg BT 144.95 378.65 Td ( Insurance-r) Tj ET Q q 0 0 0 rg BT 197.82 378.65 Td (elated ) Tj ET Q q 0 0 0 rg BT 225.32 378.65 Td (Assessments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 360.65 Td (In all states, insurers licensed to transact certain classes of insurance are required to become members of a guaranty fund. In most states, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 348.65 Td (in the event of the insolvency of an insurer writing any such class of insurance in the state, members of the funds are assessed to pay ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 336.65 Td (certain claims of the insolvent insurers. ) Tj ET Q q 0 0 0 rg BT 190.63 336.65 Td (A) Tj ET Q q 0 0 0 rg BT 197.30 336.65 Td ( particular state) Tj ET Q q 0 0 0 rg BT 261.71 336.65 Td (s fund assesses its members based on their respective written premiums in the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 324.65 Td (state for the classes of insurance in which the insolvent insurer was engaged. ) Tj ET Q q 0 0 0 rg BT 340.30 324.65 Td (Assessments are generally limited for any year to [) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.57 324.65 Td (one) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.00 324.65 Td (] or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 312.65 Td ([) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.83 312.65 Td (two) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.83 312.65 Td (] percent of the premiums written per year depending on the state.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 294.65 Td (The Hartford accounts for guaranty fund and other related assessments in accordance with ) Tj ET Q q 0 0 0 rg BT 394.42 294.65 Td (Accounting Standards Codification 405-30, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 282.65 Td (Insurance-Related ) Tj ET Q q 0 0 0 rg BT 110.63 282.65 Td (Assessments. Liabilities for guaranty fund and other insurance-related assessments are accrued when an assessment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 270.65 Td (is probable, when it can be reasonably estimated, and when the event obligating the Company to pay an imposed or probable assessment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 258.65 Td (has occurred. Liabilities for guaranty funds and other insurance-related assessments are not discounted and are included as part of other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 246.65 Td (liabilities in the Consolidated Balance Sheets. ) Tj ET Q q 0 0 0 rg BT 216.74 246.65 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 241.19 246.65 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 319.77 246.65 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.21 246.65 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.21 246.65 Td (, the liability balance was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 463.62 246.65 Td ($138) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.62 246.65 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.06 246.65 Td ($160) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.06 246.65 Td ( respectively) Tj ET Q q 0 0 0 rg BT 573.22 246.65 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 234.65 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 55.94 234.65 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 134.53 234.65 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.97 234.65 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 173.97 234.65 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.97 234.65 Td ($37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 193.97 234.65 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.40 234.65 Td ($34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.40 234.65 Td ( related to premium tax of) Tj ET Q q 0 0 0 rg BT 332.35 234.65 Td (fsets were included in other assets. In 201) Tj ET Q q 0 0 0 rg BT 499.16 234.65 Td (1, ) Tj ET Q q 0 0 0 rg BT 508.98 234.65 Td (The Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 222.65 Td (recognized ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.86 222.65 Td ($22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 92.86 222.65 Td ( for expected assessments related to the Executive Life Insurance Company of New ) Tj ET Q q 0 0 0 rg BT 429.31 222.65 Td (Y) Tj ET Q q 0 0 0 rg BT 435.53 222.65 Td (ork \("ELNY"\)insolvency) Tj ET Q q 0 0 0 rg BT 538.02 222.65 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (15. Commitments and Contingencies \(continued\)) Tj ET Q endstream endobj 439 0 obj <> endobj 440 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-83) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Derivative Commitments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Certain of the Company) Tj ET Q q 0 0 0 rg BT 130.65 695.25 Td (s derivative agreements contain provisions that are tied to the financial strength ratings of the individual legal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (entity that entered into the derivative agreement as set by nationally recognized statistical rating agencies. If the legal entity) Tj ET Q q 0 0 0 rg BT 528.26 683.25 Td (s financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (strength were to fall below certain ratings, the counterparties to the derivative agreements could demand immediate and ongoing full ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (collateralization and in certain instances demand immediate settlement of all outstanding derivative positions traded under each ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (impacted bilateral agreement. ) Tj ET Q q 0 0 0 rg BT 152.37 647.25 Td (The settlement amount is determined by netting the derivative positions transacted under each agreement. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (If the termination rights were to be exercised by the counterparties, it could impact the legal entity) Tj ET Q q 0 0 0 rg BT 427.20 635.25 Td (s ability to conduct hedging activities ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (by increasing the associated costs and decreasing the willingness of counterparties to transact with the legal entity) Tj ET Q q 0 0 0 rg BT 486.27 623.25 Td (. ) Tj ET Q q 0 0 0 rg BT 491.08 623.25 Td (The aggregate fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (value of all derivative instruments with credit-risk-related contingent features that are in a net liability position as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.02 611.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.60 611.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.55 599.25 Td ($1.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 95.67 599.25 Td (. Of this ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 130.67 599.25 Td ($1.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 176.78 599.25 Td ( the legal entities have posted collateral of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.82 599.25 Td ($1.4 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.94 599.25 Td ( in the normal course of business. In addition, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (the Company has posted collateral of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.57 587.25 Td ($44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 197.57 587.25 Td ( associated with a customized GMWB derivative. Based on derivative market values as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (December 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.08 575.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 112.58 575.25 Td (, a downgrade of one level below the current financial strength ratings by either Moody) Tj ET Q q 0 0 0 rg BT 464.97 575.25 Td (s or S&P) Tj ET Q q 0 0 0 rg BT 500.72 575.25 Td ( could require ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (approximately an additional ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 146.19 563.25 Td ($12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.19 563.25 Td ( to be posted as collateral. Based on derivative market values as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.43 563.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.01 563.25 Td (, a downgrade by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (either Moody) Tj ET Q q 0 0 0 rg BT 88.43 551.25 Td (s or S&P) Tj ET Q q 0 0 0 rg BT 124.19 551.25 Td ( of two levels below the legal entities) Tj ET Q q 0 0 0 rg BT 275.90 551.25 Td ( current financial strength ratings could require approximately an additional ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td ($33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 46.50 539.25 Td ( of assets to be posted as collateral. ) Tj ET Q q 0 0 0 rg BT 189.33 539.25 Td (These collateral amounts could change as derivative market values change, as a result of changes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (in our hedging activities or to the extent changes in contractual terms are negotiated. ) Tj ET Q q 0 0 0 rg BT 371.48 527.25 Td (The nature of the collateral that we would post, if ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 515.25 Td (required, would be primarily in the form of U.S. ) Tj ET Q q 0 0 0 rg BT 226.83 515.25 Td (T) Tj ET Q q 0 0 0 rg BT 232.59 515.25 Td (reasury bills, U.S. ) Tj ET Q q 0 0 0 rg BT 306.85 515.25 Td (T) Tj ET Q q 0 0 0 rg BT 312.60 515.25 Td (reasury notes and government agency securities.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 497.25 Td (Guarantees ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (In the ordinary course of selling businesses or entities to third parties, the Company has agreed to indemnify purchasers for losses arising ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.25 Td (out of breaches of representations and warranties with respect to the business or entities being sold, covenants and obligations of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.25 Td (Company and/or its subsidiaries following the closing. ) Tj ET Q q 0 0 0 rg BT 252.41 455.25 Td (These obligations are typically subject to various time limitations, defined by the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (contract or by operation of law) Tj ET Q q 0 0 0 rg BT 154.42 443.25 Td (, such as statutes of limitation. In some cases, the maximum potential obligation is subject to contractual ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.25 Td (limitations, while in other cases such limitations are not specified or applicable. ) Tj ET Q q 0 0 0 rg BT 352.34 431.25 Td (The Company does not expect to make any payments on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (these guarantees and is not carrying any liabilities associated with these guarantees.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 400.05 Td (16) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 42.50 400.05 Td (. Equity) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 382.05 Td (SeriesF) Tj ET Q q 0 0 0 rg BT 65.28 382.05 Td ( Pr) Tj ET Q q 0 0 0 rg BT 78.15 382.05 Td (eferr) Tj ET Q q 0 0 0 rg BT 99.05 382.05 Td (ed Stock) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 364.05 Td (On March23, 2010, ) Tj ET Q q 0 0 0 rg BT 114.64 364.05 Td (The Hartford issued ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 197.12 364.05 Td (23 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 238.51 364.05 Td ( depositary shares, each representing a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.83 364.05 Td (1/40th) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.39 364.05 Td ( interest in ) Tj ET Q q 0 0 0 rg BT 464.92 364.05 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 520.17 364.05 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.56 364.05 Td (7.25%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.39 364.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 352.05 Td (mandatory convertible preferred stock, SeriesF) Tj ET Q q 0 0 0 rg BT 221.19 352.05 Td (, at a price of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.16 352.05 Td ($25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.16 352.05 Td ( per depositary share and received net proceeds of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.82 352.05 Td ($556) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 573.82 352.05 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 340.05 Td (Cumulative dividends on each share of the mandatory convertible preferred stock were payable at a rate of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.49 340.05 Td (7.25%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.32 340.05 Td ( per annum on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 328.05 Td (initial liquidation preference of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 158.67 328.05 Td ($1,000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.17 328.05 Td ( per share. On ) Tj ET Q q 0 0 0 rg BT 249.21 328.05 Td (April 1, 2013 the mandatory convertible preferred stock converted to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.73 328.05 Td (21.2 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.62 328.05 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 316.05 Td (shares of common stock.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 298.05 Td (Allianz SE ) Tj ET Q q 0 0 0 rg BT 79.11 298.05 Td (W) Tj ET Q q 0 0 0 rg BT 88.56 298.05 Td (arrants) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 280.05 Td (In connection with the Company) Tj ET Q q 0 0 0 rg BT 165.36 280.05 Td (s October17, 2008 investment agreement with ) Tj ET Q q 0 0 0 rg BT 354.21 280.05 Td (Allianz SE, ) Tj ET Q q 0 0 0 rg BT 402.26 280.05 Td (Allianz was issued warrants, with an initial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 268.05 Td (term of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 63.16 268.05 Td (seven years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 109.52 268.05 Td (, to purchase the Company) Tj ET Q q 0 0 0 rg BT 219.22 268.05 Td (s SeriesB Non-V) Tj ET Q q 0 0 0 rg BT 288.20 268.05 Td (oting Contingent Convertible Preferred Stock and SeriesC Non-V) Tj ET Q q 0 0 0 rg BT 552.42 268.05 Td (oting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 256.05 Td (Contingent Convertible Preferred Stock, structured to entitle ) Tj ET Q q 0 0 0 rg BT 275.33 256.05 Td (Allianz, upon receipt of necessary approvals, to purchase ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.36 256.05 Td (69,1) Tj ET Q q 0 0 0 rg BT 523.49 256.05 Td (15,324) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.99 256.05 Td ( shares ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 244.05 Td (of common stock at an initial exercise price of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.49 244.05 Td ($25.32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 246.99 244.05 Td ( per share.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 226.05 Td (On March 30, 2012 the Company repurchased all of the outstanding Series B and Series C warrants held by ) Tj ET Q q 0 0 0 rg BT 464.19 226.05 Td (Allianz for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.28 226.05 Td ($300) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.28 226.05 Td (. ) Tj ET Q q 0 0 0 rg BT 535.10 226.05 Td (These ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 214.05 Td (warrants authorized ) Tj ET Q q 0 0 0 rg BT 112.58 214.05 Td (Allianz to purchase ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.83 214.05 Td (69,351,806) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 237.83 214.05 Td ( shares of the Company) Tj ET Q q 0 0 0 rg BT 335.03 214.05 Td (s common stock at an exercise price of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.75 214.05 Td ($25.23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.25 214.05 Td ( per share. ) Tj ET Q q 0 0 0 rg BT 563.94 214.05 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 202.05 Td (repurchase was settled on ) Tj ET Q q 0 0 0 rg BT 135.91 202.05 Td (April 17, 2012.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 184.05 Td (Outstanding Capital Pur) Tj ET Q q 0 0 0 rg BT 137.45 184.05 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 173.65 184.05 Td (ogram ) Tj ET Q q 0 0 0 rg BT 203.74 184.05 Td (W) Tj ET Q q 0 0 0 rg BT 213.18 184.05 Td (arrants) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 166.05 Td (The Hartford has warrants outstanding and exercisable that expire on June 26, 2019. ) Tj ET Q q 0 0 0 rg BT 373.44 166.05 Td (These warrants were originally issued on June 26, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 154.05 Td (2009 as part of the Capital Purchase Program \(CPP\) established by the U.S. Department of the ) Tj ET Q q 0 0 0 rg BT 420.67 154.05 Td (T) Tj ET Q q 0 0 0 rg BT 426.43 154.05 Td (reasury \(T) Tj ET Q q 0 0 0 rg BT 471.89 154.05 Td (reasury\) under the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 142.05 Td (Emer) Tj ET Q q 0 0 0 rg BT 52.97 142.05 Td (gency Economic Stabilization ) Tj ET Q q 0 0 0 rg BT 174.89 142.05 Td (Act of 2008 \(the EESA\). In 2010, the ) Tj ET Q q 0 0 0 rg BT 335.78 142.05 Td (T) Tj ET Q q 0 0 0 rg BT 341.53 142.05 Td (reasury sold its warrants to purchase approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.08 142.05 Td (52 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 130.05 Td (million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.39 130.05 Td ( shares of ) Tj ET Q q 0 0 0 rg BT 101.03 130.05 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 156.29 130.05 Td (s common stock in a secondary public of) Tj ET Q q 0 0 0 rg BT 319.68 130.05 Td (fering for net proceeds of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.06 130.05 Td ($706) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.06 130.05 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 112.05 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 86.75 112.05 Td (s declaration of dividends on its common stock in excess of a threshold results in adjustments to the warrant exercise price. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 100.05 Td (The warrant exercise price was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 158.38 100.05 Td ($9.504) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.88 100.05 Td ( , $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.38 100.05 Td (9.599) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 220.88 100.05 Td (, and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 247.81 100.05 Td (9.699) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 270.31 100.05 Td ( at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.53 100.05 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.11 100.05 Td (, 2012 and 201) Tj ET Q q 0 0 0 rg BT 420.18 100.05 Td (1, respectively) Tj ET Q q 0 0 0 rg BT 477.84 100.05 Td (. ) Tj ET Q q 0 0 0 rg BT 482.66 100.05 Td (The exercise price will ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 88.05 Td (be paid by withholding by ) Tj ET Q q 0 0 0 rg BT 138.81 88.05 Td (The Hartford of a number of shares of common stock issuable upon exercise of the warrants equal to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 76.05 Td (value of the aggregate exercise price of the warrants so exercised determined by reference to the closing price of ) Tj ET Q q 0 0 0 rg BT 483.60 76.05 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 538.86 76.05 Td (s common ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 64.05 Td (stock on the trading day on which the warrants are exercised and notice is delivered to the warrant agent. ) Tj ET Q q 0 0 0 rg BT 455.88 64.05 Td (T) Tj ET Q q 0 0 0 rg BT 461.29 64.05 Td (otal warrants outstanding and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 52.05 Td (exercisable as of December 31, 2013, 2012, and 201) Tj ET Q q 0 0 0 rg BT 240.78 52.05 Td (1, were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 272.71 52.05 Td (32.4 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.60 52.05 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.60 52.05 Td (52.1 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.49 52.05 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.43 52.05 Td (52.1 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.32 52.05 Td (, respectively) Tj ET Q q 0 0 0 rg BT 498.99 52.05 Td (. ) Tj ET Q q 0 0 0 rg BT 506.30 52.05 Td (W) Tj ET Q q 0 0 0 rg BT 514.94 52.05 Td (arrant exercises ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 40.05 Td (and repurchases under the Equity Repurchase Program in 2013 were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.08 40.05 Td (18.1 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.97 40.05 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.41 40.05 Td (1.6 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.30 40.05 Td (, respectively) Tj ET Q q 0 0 0 rg BT 472.96 40.05 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (15. Commitments and Contingencies \(continued\)) Tj ET Q endstream endobj 441 0 obj <> endobj 442 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-84) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Equity Repur) Tj ET Q q 0 0 0 rg BT 89.94 713.25 Td (chase Pr) Tj ET Q q 0 0 0 rg BT 126.14 713.25 Td (ogram) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (On January 31, 2013, the Board of Directors authorized a capital management plan which provides for a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.08 695.25 Td ($500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.08 695.25 Td ( equity repurchase ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (program to be completed by December 31, 2014. On June 26, 2013 the Board of Directors approved a $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.72 683.25 Td (750) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.72 683.25 Td ( increase in the Company's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (authorized equity repurchase program, bringing the total authorization to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.29 671.25 Td ($1.25 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 376.41 671.25 Td (, with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.69 671.25 Td ($617) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.69 671.25 Td ( remaining as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.89 671.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.47 671.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td ( In January 2014, the Board of Directors approved an increase in the Company's authorized equity repurchase program by an amount ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (that, when combined with the amount remaining under the existing authorization, provides the Company with the ability to repurchase ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td ($2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 70.11 629.25 Td (, in equity during the period commencing on January 1, 2014 and ending on December 31, 2015. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (During the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 77.05 611.25 Td (year ended) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.63 611.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 123.13 611.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.71 611.25 Td (, the Company repurchased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.62 611.25 Td (19.2 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.52 611.25 Td ( common shares, for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.66 611.25 Td ($600) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.66 611.25 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.60 611.25 Td (1.6 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.49 611.25 Td ( warrants, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 45.66 599.25 Td ($33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.66 599.25 Td (, through this program.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 581.25 Td (The Company repurchased ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 141.74 581.25 Td (7.7 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.63 581.25 Td ( common shares, for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 274.78 581.25 Td ($262) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.78 581.25 Td (, from January 1, 2014 to February 25, 2014.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.25 Td (During the year ended December 31, 2012, the Company completed a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.91 563.25 Td ($500) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.91 563.25 Td ( equity repurchase program authorized on July 27, 201) Tj ET Q q 0 0 0 rg BT 552.09 563.25 Td (1 by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.25 Td (the Board of Directors that permitted for purchases of common stock, as well as warrants and other derivative securities. In addition to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.25 Td (repurchases that occurred in 201) Tj ET Q q 0 0 0 rg BT 161.08 539.25 Td (1, the repurchases in 2012 included ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.20 539.25 Td (8.0 million) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.09 539.25 Td ( common shares for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.74 539.25 Td ($149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 450.74 539.25 Td (, and the repurchase of all ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 527.25 Td (outstanding Series B and Series C warrants held by ) Tj ET Q q 0 0 0 rg BT 238.41 527.25 Td (Allianz for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 284.51 527.25 Td ($300) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 304.51 527.25 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 509.25 Td (Statutory Results ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 491.25 Td (The domestic insurance subsidiaries of ) Tj ET Q q 0 0 0 rg BT 189.33 491.25 Td (The Hartford prepare their statutory financial statements in conformity with statutory accounting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 479.25 Td (practices prescribed or permitted by the applicable state insurance department which vary materially from U.S. GAAP) Tj ET Q q 0 0 0 rg BT 503.84 479.25 Td (. Prescribed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 467.25 Td (statutory accounting practices include publications of the National ) Tj ET Q q 0 0 0 rg BT 298.64 467.25 Td (Association of Insurance Commissioners \(NAIC\), as well as state ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 455.25 Td (laws, regulations and general administrative rules. ) Tj ET Q q 0 0 0 rg BT 234.59 455.25 Td (The dif) Tj ET Q q 0 0 0 rg BT 263.57 455.25 Td (ferences between statutory financial statements and financial statements ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 443.25 Td (prepared in accordance with U.S. GAAP) Tj ET Q q 0 0 0 rg BT 194.13 443.25 Td ( vary between domestic and foreign jurisdictions. ) Tj ET Q q 0 0 0 rg BT 393.90 443.25 Td (The principal dif) Tj ET Q q 0 0 0 rg BT 460.91 443.25 Td (ferences are that statutory ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 431.25 Td (financial statements do not reflect deferred policy acquisition costs and limit deferred income taxes, life benefit reserves predominately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 419.25 Td (use interest rate and mortality assumptions prescribed by the NAIC, bonds are generally carried at amortized cost and reinsurance assets ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 407.25 Td (and liabilities are presented net of reinsurance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (The statutory net income \(loss\) and statutory capital and surplus were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 344.75 379.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 344.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 344.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.00 344.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 315.75 379.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 411.00 315.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 467.00 315.75 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 523.00 315.75 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 358.75 m 467 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 358.75 m 523 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523 358.75 m 579 358.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 344.75 m 411 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 344.75 m 467 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 344.75 m 523 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523 344.75 m 579 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 344.75 m 467 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 344.75 m 523 344.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 315.75 m 411 315.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 302.75 m 411 302.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 411 315.75 m 467 315.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 302.75 m 467 302.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 467 315.75 m 523 315.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 467 302.75 m 523 302.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 523 315.75 m 579 315.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 523 302.75 m 579 302.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 363.32 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.90 363.43 Td (For the years ended December 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 349.43 Td (Statutory Net Income \(Loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 428.50 349.43 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 484.50 349.43 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 540.75 349.43 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 334.42 Td (U.S. life insurance subsidiaries, includes domestic captive insurance subsidiaries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.50 334.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.65 334.42 Td (2,144) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.50 334.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 334.42 Td (592) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.50 334.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 549.30 334.42 Td (\(1,272) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.15 334.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 320.32 Td (Property and casualty insurance subsidiaries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 440.65 320.32 Td (1,217) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 320.32 Td (883) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.15 320.32 Td (514) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 306.48 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 413.50 306.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 440.65 306.48 Td (3,361) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 469.50 306.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 496.65 306.48 Td (1,475) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 525.50 306.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 556.80 306.48 Td (\(758) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 575.15 306.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 262.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 262.75 84.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 262.75 85.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 236.75 378.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 236.75 84.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 236.75 85.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 275.75 m 494 275.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 275.75 m 579 275.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 262.75 m 410 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 262.75 m 494 262.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 262.75 m 579 262.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 236.75 m 410 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 223.75 m 410 223.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 236.75 m 494 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 223.75 m 494 223.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494 236.75 m 579 236.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 223.75 m 579 223.75 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.70 277.53 Td (As of December 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 266.48 Td (Statutory Capital and Surplus) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 441.50 266.48 Td (2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 526.00 266.48 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 253.32 Td (U.S. life insurance subsidiaries, includes domestic captive insurance subsidiaries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.50 253.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.65 253.32 Td (6,639) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.50 253.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.65 253.32 Td (6,410) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 240.32 Td (Property and casualty insurance subsidiaries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.65 240.32 Td (8,022) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.65 240.32 Td (7,645) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 227.48 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.50 227.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 462.65 227.48 Td (14,661) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 496.50 227.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 547.65 227.48 Td (14,055) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 206.25 Td (The Company also holds regulatory capital and surplus for its operations in Japan. Under the accounting practices and procedures ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 194.25 Td (governed by Japanese regulatory authorities, the Company) Tj ET Q q 0 0 0 rg BT 268.93 194.25 Td (s statutory capital and surplus was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.85 194.25 Td ($1.2 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 456.96 194.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.40 194.25 Td ($1.1 billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.52 194.25 Td (, as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 182.25 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 90.08 182.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 182.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.52 182.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.52 182.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 202.18 182.25 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (16. Equity \(continued\)) Tj ET Q endstream endobj 443 0 obj <> endobj 444 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-85) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Regulatory Capital Requir) Tj ET Q q 0 0 0 rg BT 137.78 713.10 Td (ements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The Hartford's U.S. insurance companies' states of domicile impose risk-based capital \(RBC\) requirements. ) Tj ET Q q 0 0 0 rg BT 475.07 695.10 Td (The requirements provide ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (a means of measuring the minimum amount of statutory capital and surplus, referred to collectively as capital, appropriate for an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (insurance company to support its overall business operations based on its size and risk profile. Regulatory compliance is determined by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (a ratio of a company's total adjusted capital \(T) Tj ET Q q 0 0 0 rg BT 220.21 659.10 Td (AC\) to its authorized control level RBC \(ACL) Tj ET Q q 0 0 0 rg BT 413.96 659.10 Td ( RBC\). Companies below specific ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (trigger points or ratios are classified within certain levels, each of which requires specified corrective action. ) Tj ET Q q 0 0 0 rg BT 470.31 647.10 Td (The minimum level of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (T) Tj ET Q q 0 0 0 rg BT 36.81 635.10 Td (AC before corrective action commences is two times the ) Tj ET Q q 0 0 0 rg BT 265.34 635.10 Td (ACL) Tj ET Q q 0 0 0 rg BT 284.97 635.10 Td ( RBC \(Company ) Tj ET Q q 0 0 0 rg BT 358.58 635.10 Td (Action Level\). ) Tj ET Q q 0 0 0 rg BT 426.15 635.10 Td (The adequacy of a company's capital ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (is determined by the ratio of a company's ) Tj ET Q q 0 0 0 rg BT 198.63 623.10 Td (T) Tj ET Q q 0 0 0 rg BT 203.94 623.10 Td (AC to its Company ) Tj ET Q q 0 0 0 rg BT 283.39 623.10 Td (Action Level \(known as the RBC ratio\). ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.08 623.10 Td (All of ) Tj ET Q q 0 0 0 rg BT 474.01 623.10 Td (The Hartford's operating ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (insurance subsidiaries had RBC ratios in excess of the minimum levels required by the applicable insurance regulations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.21 611.10 Td ( On an ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (aggregate basis, ) Tj ET Q q 0 0 0 rg BT 97.68 599.10 Td (The Hartford's U.S. property and casualty insurance companies' RBC ratio was in excess of 200% of Company ) Tj ET Q q 0 0 0 rg BT 546.18 599.10 Td (Action ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (Level as of December 31, 2013 and 2012. ) Tj ET Q q 0 0 0 rg BT 203.77 587.10 Td (The RBC ratios for ) Tj ET Q q 0 0 0 rg BT 283.02 587.10 Td (The Hartford's principal life insurance operating subsidiaries were all in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.10 Td (excess of 425% of Company ) Tj ET Q q 0 0 0 rg BT 148.42 575.10 Td (Action Level as of December 31, 2013 and 2012. In addition, all other domestic life insurance subsidiaries, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 563.10 Td (comprising less than 10% of the capital of the Company's U.S. life insurance subsidiaries, have RBC ratios that exceed the minimum ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 551.10 Td (level required by the applicable insurance regulations. ) Tj ET Q q 0 0 0 rg BT 252.62 551.10 Td (The reporting of RBC ratios is not intended for the purpose of ranking any ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (insurance company or for use in connection with any marketing, advertising or promotional activities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (Similar to the RBC ratios that are employed by U.S. insurance regulators, regulatory authorities in the international jurisdictions in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (which ) Tj ET Q q 0 0 0 rg BT 58.26 509.10 Td (The Hartford operates generally establish minimum solvency requirements for insurance companies. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.57 509.10 Td (All of ) Tj ET Q q 0 0 0 rg BT 493.50 509.10 Td (The Hartford's ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (international insurance subsidiaries have solvency mar) Tj ET Q q 0 0 0 rg BT 249.86 497.10 Td (gins in excess of the minimum levels required by the applicable regulatory ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (authorities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.21 485.10 Td ( ) Tj ET Q q 0 0 0 rg BT 81.03 485.10 Td (The solvency mar) Tj ET Q q 0 0 0 rg BT 152.49 485.10 Td (gin ratio for ) Tj ET Q q 0 0 0 rg BT 202.57 485.10 Td (The Hartford's insurance subsidiary in Japan as of its last fiscal year end, March 31, 2013, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (was in excess of three times the amount of capital that would require corrective action.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 455.10 Td (Dividend ) Tj ET Q q 0 0 0 rg BT 70.66 455.10 Td (Restrictions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (Dividends ) Tj ET Q q 0 0 0 rg BT 74.11 437.10 Td (to ) Tj ET Q q 0 0 0 rg BT 83.40 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 97.12 437.10 Td (HFSG ) Tj ET Q q 0 0 0 rg BT 124.20 437.10 Td (Holding ) Tj ET Q q 0 0 0 rg BT 158.48 437.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 198.87 437.10 Td (from ) Tj ET Q q 0 0 0 rg BT 219.82 437.10 Td (its ) Tj ET Q q 0 0 0 rg BT 230.77 437.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 270.59 437.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 319.32 437.10 Td (are ) Tj ET Q q 0 0 0 rg BT 333.03 437.10 Td (restricted. ) Tj ET Q q 0 0 0 rg BT 374.13 437.10 Td (The ) Tj ET Q q 0 0 0 rg BT 391.18 437.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 427.12 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 436.96 437.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 477.35 437.10 Td (by ) Tj ET Q q 0 0 0 rg BT 488.86 437.10 Td (Connecticut-domiciled ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (insurers ) Tj ET Q q 0 0 0 rg BT 64.75 425.10 Td (is ) Tj ET Q q 0 0 0 rg BT 73.02 425.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 102.94 425.10 Td (under ) Tj ET Q q 0 0 0 rg BT 127.30 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 141.11 425.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 181.02 425.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 213.17 425.10 Td (company ) Tj ET Q q 0 0 0 rg BT 251.42 425.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 271.34 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 281.27 425.10 Td (Connecticut. ) Tj ET Q q 0 0 0 rg BT 333.56 425.10 Td (These ) Tj ET Q q 0 0 0 rg BT 359.03 425.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 378.96 425.10 Td (require ) Tj ET Q q 0 0 0 rg BT 408.87 425.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 434.89 425.10 Td (to ) Tj ET Q q 0 0 0 rg BT 444.26 425.10 Td (and ) Tj ET Q q 0 0 0 rg BT 460.30 425.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 496.88 425.10 Td (by ) Tj ET Q q 0 0 0 rg BT 508.47 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 522.28 425.10 Td (state ) Tj ET Q q 0 0 0 rg BT 542.20 425.10 Td (insurance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (commissioner ) Tj ET Q q 0 0 0 rg BT 89.05 413.10 Td (for ) Tj ET Q q 0 0 0 rg BT 102.16 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.82 413.10 Td (declaration ) Tj ET Q q 0 0 0 rg BT 161.69 413.10 Td (or ) Tj ET Q q 0 0 0 rg BT 171.46 413.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 207.34 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 217.12 413.10 Td (any ) Tj ET Q q 0 0 0 rg BT 233.01 413.10 Td (dividend, ) Tj ET Q q 0 0 0 rg BT 271.95 413.10 Td (which, ) Tj ET Q q 0 0 0 rg BT 300.33 413.10 Td (together ) Tj ET Q q 0 0 0 rg BT 334.54 413.10 Td (with ) Tj ET Q q 0 0 0 rg BT 353.77 413.10 Td (other ) Tj ET Q q 0 0 0 rg BT 375.76 413.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 416.10 413.10 Td (or ) Tj ET Q q 0 0 0 rg BT 425.87 413.10 Td (distributions ) Tj ET Q q 0 0 0 rg BT 477.32 413.10 Td (made ) Tj ET Q q 0 0 0 rg BT 500.43 413.10 Td (within ) Tj ET Q q 0 0 0 rg BT 527.43 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.09 413.10 Td (preceding ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (twelve ) Tj ET Q q 0 0 0 rg BT 61.29 401.10 Td (months, ) Tj ET Q q 0 0 0 rg BT 96.38 401.10 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 131.16 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.51 401.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 177.40 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 188.87 401.10 Td (\(i\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.81 401.10 Td (10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.14 401.10 Td ( ) Tj ET Q q 0 0 0 rg BT 222.27 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 233.74 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.09 401.10 Td (insurer) Tj ET Q q 0 0 0 rg BT 277.23 401.10 Td () Tj ET Q q 0 0 0 rg BT 280.01 401.10 Td (s ) Tj ET Q q 0 0 0 rg BT 287.04 401.10 Td (policyholder ) Tj ET Q q 0 0 0 rg BT 340.72 401.10 Td (surplus ) Tj ET Q q 0 0 0 rg BT 372.74 401.10 Td (as ) Tj ET Q q 0 0 0 rg BT 384.21 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 395.68 401.10 Td (December31 ) Tj ET Q q 0 0 0 rg BT 452.40 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 463.86 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.22 401.10 Td (preceding ) Tj ET Q q 0 0 0 rg BT 521.78 401.10 Td (year ) Tj ET Q q 0 0 0 rg BT 542.12 401.10 Td (or ) Tj ET Q q 0 0 0 rg BT 553.58 401.10 Td (\(ii\)net ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.10 Td (income ) Tj ET Q q 0 0 0 rg BT 63.58 389.10 Td (\(or ) Tj ET Q q 0 0 0 rg BT 77.88 389.10 Td (net ) Tj ET Q q 0 0 0 rg BT 92.75 389.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 112.61 389.10 Td (from ) Tj ET Q q 0 0 0 rg BT 134.69 389.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 181.49 389.10 Td (if ) Tj ET Q q 0 0 0 rg BT 190.25 389.10 Td (such ) Tj ET Q q 0 0 0 rg BT 211.22 389.10 Td (company ) Tj ET Q q 0 0 0 rg BT 250.52 389.10 Td (is ) Tj ET Q q 0 0 0 rg BT 259.84 389.10 Td (a ) Tj ET Q q 0 0 0 rg BT 266.92 389.10 Td (life ) Tj ET Q q 0 0 0 rg BT 282.89 389.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 323.86 389.10 Td (company\) ) Tj ET Q q 0 0 0 rg BT 366.49 389.10 Td (for ) Tj ET Q q 0 0 0 rg BT 380.79 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 395.65 389.10 Td (twelve-month ) Tj ET Q q 0 0 0 rg BT 453.84 389.10 Td (period ) Tj ET Q q 0 0 0 rg BT 482.03 389.10 Td (ending ) Tj ET Q q 0 0 0 rg BT 511.90 389.10 Td (on ) Tj ET Q q 0 0 0 rg BT 524.54 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 539.40 389.10 Td (thirty-first ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.10 Td (day ) Tj ET Q q 0 0 0 rg BT 48.30 377.10 Td (of ) Tj ET Q q 0 0 0 rg BT 59.00 377.10 Td (December ) Tj ET Q q 0 0 0 rg BT 102.44 377.10 Td (last ) Tj ET Q q 0 0 0 rg BT 118.69 377.10 Td (preceding, ) Tj ET Q q 0 0 0 rg BT 162.98 377.10 Td (in ) Tj ET Q q 0 0 0 rg BT 173.12 377.10 Td (each ) Tj ET Q q 0 0 0 rg BT 193.80 377.10 Td (case ) Tj ET Q q 0 0 0 rg BT 213.37 377.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 260.71 377.10 Td (under ) Tj ET Q q 0 0 0 rg BT 285.85 377.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 323.20 377.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 363.88 377.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 410.12 377.10 Td (principles. ) Tj ET Q q 0 0 0 rg BT 454.42 377.10 Td (In ) Tj ET Q q 0 0 0 rg BT 465.11 377.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 502.75 377.10 Td (if ) Tj ET Q q 0 0 0 rg BT 511.22 377.10 Td (any ) Tj ET Q q 0 0 0 rg BT 528.02 377.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 565.38 377.10 Td (of ) Tj ET Q q 0 0 0 rg BT 576.07 377.10 Td (a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 365.10 Td (Connecticut-domiciled ) Tj ET Q q 0 0 0 rg BT 124.42 365.10 Td (insurer ) Tj ET Q q 0 0 0 rg BT 153.47 365.10 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 186.39 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 199.89 365.10 Td (insurer) Tj ET Q q 0 0 0 rg BT 228.03 365.10 Td () Tj ET Q q 0 0 0 rg BT 230.81 365.10 Td (s ) Tj ET Q q 0 0 0 rg BT 235.98 365.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 263.90 365.10 Td (surplus, ) Tj ET Q q 0 0 0 rg BT 296.57 365.10 Td (it ) Tj ET Q q 0 0 0 rg BT 303.41 365.10 Td (requires ) Tj ET Q q 0 0 0 rg BT 336.90 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.39 365.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 371.11 365.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 407.37 365.10 Td (of ) Tj ET Q q 0 0 0 rg BT 416.98 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.48 365.10 Td (Connecticut ) Tj ET Q q 0 0 0 rg BT 480.08 365.10 Td (Insurance ) Tj ET Q q 0 0 0 rg BT 520.23 365.10 Td (Commissioner) Tj ET Q q 0 0 0 rg BT 578.01 365.10 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 353.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.23 353.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 89.73 353.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 122.47 353.10 Td (company ) Tj ET Q q 0 0 0 rg BT 161.31 353.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 181.83 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 192.34 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 206.75 353.10 Td (other ) Tj ET Q q 0 0 0 rg BT 229.48 353.10 Td (jurisdictions ) Tj ET Q q 0 0 0 rg BT 281.11 353.10 Td (in ) Tj ET Q q 0 0 0 rg BT 291.07 353.10 Td (which ) Tj ET Q q 0 0 0 rg BT 317.54 353.10 Td (The ) Tj ET Q q 0 0 0 rg BT 335.27 353.10 Td (Hartford) Tj ET Q q 0 0 0 rg BT 372.48 353.10 Td (s ) Tj ET Q q 0 0 0 rg BT 378.55 353.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 419.05 353.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 468.45 353.10 Td (are ) Tj ET Q q 0 0 0 rg BT 482.85 353.10 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 535.56 353.10 Td (\(or ) Tj ET Q q 0 0 0 rg BT 549.41 353.10 Td (deemed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (commercially ) Tj ET Q q 0 0 0 rg BT 89.31 341.10 Td (domiciled\) ) Tj ET Q q 0 0 0 rg BT 135.46 341.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 175.50 341.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 207.77 341.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 238.37 341.10 Td (\(although ) Tj ET Q q 0 0 0 rg BT 279.53 341.10 Td (in ) Tj ET Q q 0 0 0 rg BT 290.14 341.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 320.18 341.10 Td (instances ) Tj ET Q q 0 0 0 rg BT 359.67 341.10 Td (somewhat ) Tj ET Q q 0 0 0 rg BT 403.05 341.10 Td (more ) Tj ET Q q 0 0 0 rg BT 426.43 341.10 Td (restrictive\) ) Tj ET Q q 0 0 0 rg BT 472.57 341.10 Td (limitations ) Tj ET Q q 0 0 0 rg BT 518.18 341.10 Td (on ) Tj ET Q q 0 0 0 rg BT 531.02 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 546.07 341.10 Td (payment ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 42.40 329.10 Td (dividends. ) Tj ET Q q 0 0 0 rg BT 86.36 329.10 Td (Dividends ) Tj ET Q q 0 0 0 rg BT 130.04 329.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 149.83 329.10 Td (to ) Tj ET Q q 0 0 0 rg BT 160.17 329.10 Td (HFSG ) Tj ET Q q 0 0 0 rg BT 188.31 329.10 Td (Holding ) Tj ET Q q 0 0 0 rg BT 223.66 329.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 265.12 329.10 Td (by ) Tj ET Q q 0 0 0 rg BT 277.69 329.10 Td (its ) Tj ET Q q 0 0 0 rg BT 289.71 329.10 Td (life ) Tj ET Q q 0 0 0 rg BT 305.60 329.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 346.49 329.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 396.28 329.10 Td (are ) Tj ET Q q 0 0 0 rg BT 411.06 329.10 Td (further ) Tj ET Q q 0 0 0 rg BT 440.83 329.10 Td (dependent ) Tj ET Q q 0 0 0 rg BT 484.50 329.10 Td (on ) Tj ET Q q 0 0 0 rg BT 497.07 329.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 517.41 329.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 572.18 329.10 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 317.10 Td (HLI ) Tj ET Q q 0 0 0 rg BT 50.23 317.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.73 317.10 Td (other ) Tj ET Q q 0 0 0 rg BT 89.35 317.10 Td (factors. ) Tj ET Q q 0 0 0 rg BT 121.12 317.10 Td (In ) Tj ET Q q 0 0 0 rg BT 131.52 317.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 166.36 317.10 Td (to ) Tj ET Q q 0 0 0 rg BT 176.20 317.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 213.26 317.10 Td (limitations ) Tj ET Q q 0 0 0 rg BT 258.11 317.10 Td (on ) Tj ET Q q 0 0 0 rg BT 270.18 317.10 Td (paying ) Tj ET Q q 0 0 0 rg BT 299.46 317.10 Td (dividends, ) Tj ET Q q 0 0 0 rg BT 342.91 317.10 Td (the ) Tj ET Q q 0 0 0 rg BT 357.20 317.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 398.15 317.10 Td (also ) Tj ET Q q 0 0 0 rg BT 416.33 317.10 Td (takes ) Tj ET Q q 0 0 0 rg BT 438.94 317.10 Td (other ) Tj ET Q q 0 0 0 rg BT 461.55 317.10 Td (items ) Tj ET Q q 0 0 0 rg BT 485.29 317.10 Td (into ) Tj ET Q q 0 0 0 rg BT 502.91 317.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 558.85 317.10 Td (when ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 305.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 82.59 305.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 124.25 305.10 Td (from ) Tj ET Q q 0 0 0 rg BT 146.47 305.10 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 198.76 305.10 Td (These ) Tj ET Q q 0 0 0 rg BT 225.41 305.10 Td (considerations ) Tj ET Q q 0 0 0 rg BT 285.94 305.10 Td (include, ) Tj ET Q q 0 0 0 rg BT 320.65 305.10 Td (but ) Tj ET Q q 0 0 0 rg BT 336.20 305.10 Td (are ) Tj ET Q q 0 0 0 rg BT 351.18 305.10 Td (not ) Tj ET Q q 0 0 0 rg BT 366.73 305.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 397.84 305.10 Td (to ) Tj ET Q q 0 0 0 rg BT 408.39 305.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 446.70 305.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 483.35 305.10 Td (and ) Tj ET Q q 0 0 0 rg BT 500.56 305.10 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 557.19 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 568.30 305.10 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 293.10 Td (subsidiary) Tj ET Q q 0 0 0 rg BT 71.96 293.10 Td (, ) Tj ET Q q 0 0 0 rg BT 76.96 293.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 120.55 293.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 149.70 293.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 204.41 293.10 Td (and ) Tj ET Q q 0 0 0 rg BT 221.34 293.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 257.74 293.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 312.44 293.10 Td (of ) Tj ET Q q 0 0 0 rg BT 323.27 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 337.98 293.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 381.04 293.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 421.30 293.10 Td (company) Tj ET Q q 0 0 0 rg BT 457.31 293.10 Td (. ) Tj ET Q q 0 0 0 rg BT 462.31 293.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.18 275.10 Td (Company) Tj ET Q q 0 0 0 rg BT 90.84 275.10 Td (s ) Tj ET Q q 0 0 0 rg BT 96.87 275.10 Td (property-casualty ) Tj ET Q q 0 0 0 rg BT 168.97 275.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 209.42 275.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 258.77 275.10 Td (are ) Tj ET Q q 0 0 0 rg BT 273.11 275.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 313.56 275.10 Td (to ) Tj ET Q q 0 0 0 rg BT 323.47 275.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 340.05 275.10 Td (up ) Tj ET Q q 0 0 0 rg BT 352.18 275.10 Td (to ) Tj ET Q q 0 0 0 rg BT 362.09 275.10 Td (a ) Tj ET Q q 0 0 0 rg BT 368.66 275.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 411.35 275.10 Td (of ) Tj ET Q q 0 0 0 rg BT 421.81 275.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 481.70 275.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.83 275.10 Td ($1.5 ) Tj ET Q q 0 0 0 rg BT 503.47 275.10 Td (billion) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.58 275.10 Td ( ) Tj ET Q q 0 0 0 rg BT 531.71 275.10 Td (in ) Tj ET Q q 0 0 0 rg BT 541.62 275.10 Td (dividends ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 263.10 Td (to ) Tj ET Q q 0 0 0 rg BT 41.99 263.10 Td (HFSG ) Tj ET Q q 0 0 0 rg BT 70.27 263.10 Td (Holding ) Tj ET Q q 0 0 0 rg BT 105.76 263.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 147.36 263.10 Td (in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 157.85 263.10 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 177.85 263.10 Td ( ) Tj ET Q q 0 0 0 rg BT 180.56 263.10 Td (without ) Tj ET Q q 0 0 0 rg BT 213.83 263.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 235.98 263.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 273.68 263.10 Td (from ) Tj ET Q q 0 0 0 rg BT 295.83 263.10 Td (the ) Tj ET Q q 0 0 0 rg BT 310.76 263.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 354.56 263.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 395.59 263.10 Td (commissioner) Tj ET Q q 0 0 0 rg BT 451.14 263.10 Td (. ) Tj ET Q q 0 0 0 rg BT 456.16 263.10 Td (The ) Tj ET Q q 0 0 0 rg BT 474.42 263.10 Td (life ) Tj ET Q q 0 0 0 rg BT 490.45 263.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 531.48 263.10 Td (subsidiaries' ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 251.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 68.14 251.10 Td (limitation ) Tj ET Q q 0 0 0 rg BT 108.68 251.10 Td (under ) Tj ET Q q 0 0 0 rg BT 133.10 251.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.96 251.10 Td (holding ) Tj ET Q q 0 0 0 rg BT 179.17 251.10 Td (company ) Tj ET Q q 0 0 0 rg BT 217.48 251.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 237.46 251.10 Td (of ) Tj ET Q q 0 0 0 rg BT 247.43 251.10 Td (Connecticut ) Tj ET Q q 0 0 0 rg BT 297.40 251.10 Td (is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.72 251.10 Td ($560) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.72 251.10 Td ( ) Tj ET Q q 0 0 0 rg BT 327.37 251.10 Td (in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.80 251.10 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.80 251.10 Td (. ) Tj ET Q q 0 0 0 rg BT 360.95 251.10 Td ( ) Tj ET Q q 0 0 0 rg BT 362.60 251.10 Td (In ) Tj ET Q q 0 0 0 rg BT 372.58 251.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 396.73 251.10 Td (HFSG ) Tj ET Q q 0 0 0 rg BT 423.94 251.10 Td (Holding ) Tj ET Q q 0 0 0 rg BT 458.37 251.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 498.91 251.10 Td (anticipates ) Tj ET Q q 0 0 0 rg BT 543.32 251.10 Td (receiving ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 239.10 Td (approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 93.08 239.10 Td ($800) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 113.08 239.10 Td ( ) Tj ET Q q 0 0 0 rg BT 116.90 239.10 Td (in ) Tj ET Q q 0 0 0 rg BT 128.50 239.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 171.21 239.10 Td (from ) Tj ET Q q 0 0 0 rg BT 194.46 239.10 Td (its ) Tj ET Q q 0 0 0 rg BT 207.73 239.10 Td (property-casualty ) Tj ET Q q 0 0 0 rg BT 281.52 239.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 323.66 239.10 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 377.20 239.10 Td (net ) Tj ET Q q 0 0 0 rg BT 393.23 239.10 Td (of ) Tj ET Q q 0 0 0 rg BT 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Tj ET Q q 0 0 0 rg BT 68.44 694.60 Td (in ) Tj ET Q q 0 0 0 rg BT 78.17 694.60 Td (AOCI, ) Tj ET Q q 0 0 0 rg BT 107.61 694.60 Td (net ) Tj ET Q q 0 0 0 rg BT 122.33 694.60 Td (of ) Tj ET Q q 0 0 0 rg BT 133.16 694.60 Td (tax ) Tj ET Q q 0 0 0 rg BT 147.87 694.60 Td (and ) Tj ET Q q 0 0 0 rg BT 164.81 694.60 Td (DAC, ) Tj ET Q q 0 0 0 rg BT 190.92 694.60 Td (by ) Tj ET Q q 0 0 0 rg BT 203.42 694.60 Td (component ) Tj ET Q q 0 0 0 rg BT 250.36 694.60 Td (consist ) Tj ET Q q 0 0 0 rg BT 280.64 694.60 Td (of ) Tj ET Q q 0 0 0 rg BT 291.47 694.60 Td (the ) Tj ET Q q 0 0 0 rg BT 306.18 694.60 Td (following:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 670.60 Td (For ) Tj ET Q q 0 0 0 rg BT 47.89 670.60 Td (the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.61 670.60 Td (year ) Tj ET Q q 0 0 0 rg BT 82.32 670.60 Td (ended ) Tj ET Q q 0 0 0 rg BT 108.69 670.60 Td (December ) Tj ET Q q 0 0 0 rg BT 152.28 670.60 Td (31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.78 670.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.28 670.60 Td (2013) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 610.10 153.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 610.10 68.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 610.10 68.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 610.10 68.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 610.10 68.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 610.10 68.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 524.00 610.10 56.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 587.10 153.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 587.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 587.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 587.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 587.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 587.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 524.00 587.10 56.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 563.10 153.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 184.00 563.10 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 563.10 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 320.00 563.10 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 388.00 563.10 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 456.00 563.10 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 524.00 563.10 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184 610.1 m 252 610.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 252 610.1 m 320 610.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320 610.1 m 388 610.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 388 610.1 m 456 610.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 456 610.1 m 524 610.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 524 610.1 m 580 610.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 31 575.1 m 184 575.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184 575.1 m 252 575.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 252 575.1 m 320 575.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320 575.1 m 388 575.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 388 575.1 m 456 575.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 456 575.1 m 524 575.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 524 575.1 m 580 575.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 31 563.1 m 184 563.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 184 563.1 m 252 563.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 252 563.1 m 320 563.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 320 563.1 m 388 563.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 388 563.1 m 456 563.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 456 563.1 m 524 563.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 524 563.1 m 580 563.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 550.1 m 184 550.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 184 550.1 m 252 550.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 550.1 m 320 550.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 320 550.1 m 388 550.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 388 550.1 m 456 550.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 550.1 m 524 550.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 524 550.1 m 580 550.1 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 188.70 632.55 Td (Net Unrealized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 202.10 623.55 Td (Gain on) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 198.75 614.55 Td (Securities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 255.70 623.55 Td (OTTI Losses in) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 276.95 614.55 Td (OCI) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.25 641.55 Td (Net Gain \(Loss\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.20 632.55 Td (on Cash Flow) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 337.20 623.55 Td (Hedging) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 329.95 614.55 Td (Instruments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 406.55 641.55 Td (Foreign) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 403.05 632.55 Td (Currency) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 399.30 623.55 Td (Translation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 396.95 614.55 Td (Adjustments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.10 650.55 Td (Pension and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 478.05 641.55 Td (Other) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.90 632.55 Td (Postretirement) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.70 623.55 Td (Plan) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.95 614.55 Td (Adjustments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 529.00 614.55 Td (Total AOCI) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 600.72 Td (Beginning balance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.50 600.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 225.65 600.72 Td (3,418) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.50 600.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.80 600.72 Td (\(47) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.15 600.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.50 600.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 369.15 600.72 Td (428) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.50 600.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 600.72 Td (406) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.50 600.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.30 600.72 Td (\(1,362) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.15 600.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.50 600.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.65 600.72 Td (2,843) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 589.72 Td (OCI before reclassifications) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.30 589.72 Td (\(1,416) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.15 589.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.15 589.72 Td (51) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.80 589.72 Td (\(195) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 589.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.80 589.72 Td (\(337) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 589.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.15 589.72 Td (74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.30 589.72 Td (\(1,823) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 589.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 577.72 Td (Amounts reclassified from AOCI) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.30 577.72 Td (\(1,015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.15 577.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 302.80 577.72 Td (\(16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.15 577.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.80 577.72 Td (\(125) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 577.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 577.72 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.15 577.72 Td (35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.30 577.72 Td (\(1,099) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 577.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 565.72 Td (Net OCI) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.30 565.72 Td (\(2,431) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.15 565.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.15 565.72 Td (35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.80 565.72 Td (\(320) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.15 565.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.80 565.72 Td (\(315) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 565.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.15 565.72 Td (109) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.30 565.72 Td (\(2,922) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 565.72 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 33.50 553.83 Td (Ending balance) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 186.50 553.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 233.15 553.83 Td (987) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 254.50 553.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 302.80 553.88 Td (\(12) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.15 553.83 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.50 553.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 369.15 553.83 Td (108) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 390.50 553.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.15 553.83 Td (91) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.50 553.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 494.30 553.88 Td (\(1,253) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 520.15 553.83 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 526.50 553.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.80 553.83 Td (\(79) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 576.15 553.83 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 520.60 Td (For the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.61 520.60 Td (year ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.78 520.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.28 520.60 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 187.28 520.60 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 461.10 147.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.00 461.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 461.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 461.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 461.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 461.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 461.10 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 437.10 147.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.00 437.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 437.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 437.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 437.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 437.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 437.10 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 413.10 147.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.00 413.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 413.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 413.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 413.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 413.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 413.10 62.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 178 461.1 m 246 461.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 246 461.1 m 314 461.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 461.1 m 382 461.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382 461.1 m 450 461.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 461.1 m 518 461.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 461.1 m 580 461.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 31 425.1 m 178 425.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 178 425.1 m 246 425.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 246 425.1 m 314 425.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 425.1 m 382 425.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382 425.1 m 450 425.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 425.1 m 518 425.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 425.1 m 580 425.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 31 413.1 m 178 413.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 178 413.1 m 246 413.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 246 413.1 m 314 413.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 413.1 m 382 413.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382 413.1 m 450 413.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 413.1 m 518 413.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 413.1 m 580 413.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 401.1 m 178 401.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178 401.1 m 246 401.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 401.1 m 314 401.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 401.1 m 382 401.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 401.1 m 450 401.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 401.1 m 518 401.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 401.1 m 580 401.1 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 182.70 483.55 Td (Net Unrealized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 196.10 474.55 Td (Gain on) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 192.75 465.55 Td (Securities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 249.70 474.55 Td (OTTI Losses in) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 270.95 465.55 Td (OCI) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.25 492.55 Td (Net Gain \(Loss\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.20 483.55 Td (on Cash Flow) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 331.20 474.55 Td (Hedging) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.95 465.55 Td (Instruments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 400.55 492.55 Td (Foreign) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 397.05 483.55 Td (Currency) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.30 474.55 Td (Translation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 390.95 465.55 Td (Adjustments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.10 501.50 Td (Pension and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.05 492.50 Td (Other) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.90 483.50 Td (Postretirement) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 474.70 474.50 Td (Plan) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.95 465.50 Td (Adjustments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.00 465.55 Td (Total AOCI) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 451.72 Td (Beginning balance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.50 451.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.65 451.72 Td (1,511) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.50 451.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.80 451.72 Td (\(99) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.15 451.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.50 451.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.15 451.72 Td (516) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.50 451.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 451.72 Td (574) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.50 451.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.30 451.72 Td (\(1,251) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 451.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.50 451.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.65 451.72 Td (1,251) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 439.72 Td (OCI before reclassifications) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.65 439.72 Td (1,928) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 295.15 439.72 Td (149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.15 439.72 Td (58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 439.72 Td (\(168) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 439.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.80 439.72 Td (\(320) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 439.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.65 439.72 Td (1,647) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 427.72 Td (Amounts reclassified from AOCI) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.80 427.72 Td (\(21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.15 427.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.80 427.72 Td (\(97) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.15 427.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.80 427.72 Td (\(146) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.15 427.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.15 427.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 499.15 427.72 Td (209) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.80 427.72 Td (\(55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 427.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 415.72 Td (Net OCI) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.65 415.72 Td (1,907) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 415.72 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.80 415.72 Td (\(88) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.15 415.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 415.72 Td (\(168) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 415.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.80 415.72 Td (\(111) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 415.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.65 415.72 Td (1,592) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 33.50 403.83 Td (Ending balance) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 180.50 403.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 219.65 403.83 Td (3,418) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.50 403.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 296.80 403.88 Td (\(47) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 310.15 403.83 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.50 403.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.15 403.83 Td (428) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.50 403.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.15 403.83 Td (406) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.50 403.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.30 403.88 Td (\(1,362) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.15 403.83 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 520.50 403.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 553.65 403.83 Td (2,843) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.60 Td (For the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.61 371.60 Td (year ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.78 371.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 167.28 371.60 Td (201) Tj ET Q q 0 0 0 rg BT 181.91 371.60 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.91 371.60 Td ( ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 312.10 147.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.00 312.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 312.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 312.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 312.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 312.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 312.10 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 288.10 147.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.00 288.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 288.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 288.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 288.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 288.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 288.10 62.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.00 264.10 147.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 178.00 264.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 246.00 264.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 314.00 264.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 382.00 264.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.00 264.10 68.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 518.00 264.10 62.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 178 312.1 m 246 312.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 246 312.1 m 314 312.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 312.1 m 382 312.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382 312.1 m 450 312.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 312.1 m 518 312.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 312.1 m 580 312.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 31 276.1 m 178 276.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 178 276.1 m 246 276.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 246 276.1 m 314 276.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 276.1 m 382 276.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382 276.1 m 450 276.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 276.1 m 518 276.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 276.1 m 580 276.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 31 264.1 m 178 264.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 178 264.1 m 246 264.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 246 264.1 m 314 264.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 314 264.1 m 382 264.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 382 264.1 m 450 264.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 450 264.1 m 518 264.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 518 264.1 m 580 264.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31 252.10000000000002 m 178 252.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 178 252.10000000000002 m 246 252.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 246 252.10000000000002 m 314 252.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 314 252.10000000000002 m 382 252.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 252.10000000000002 m 450 252.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450 252.10000000000002 m 518 252.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 518 252.10000000000002 m 580 252.10000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 182.70 334.55 Td (Net Unrealized) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 196.10 325.55 Td (Gain on) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 192.75 316.55 Td (Securities) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 249.70 325.55 Td (OTTI Losses in) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 270.95 316.55 Td (OCI) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.25 343.55 Td (Net Gain \(Loss\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 321.20 334.55 Td (on Cash Flow) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 331.20 325.55 Td (Hedging) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 323.95 316.55 Td (Instruments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 400.55 343.55 Td (Foreign) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 397.05 334.55 Td (Currency) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.30 325.55 Td (Translation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 390.95 316.55 Td (Adjustments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.10 352.50 Td (Pension and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 472.05 343.50 Td (Other) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 454.90 334.50 Td (Postretirement) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 474.70 325.50 Td (Plan) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 458.95 316.50 Td (Adjustments) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 526.00 316.55 Td (Total AOCI) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 302.72 Td (Beginning balance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.50 302.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.80 302.72 Td (\(556) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.15 302.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.50 302.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.80 302.72 Td (\(108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.15 302.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.50 302.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.15 302.72 Td (385) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.50 302.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 302.72 Td (467) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.50 302.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.30 302.72 Td (\(1,178) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 302.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.50 302.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.80 302.72 Td (\(990) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 302.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 290.72 Td (OCI before reclassifications) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.65 290.72 Td (2,151) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.15 290.72 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.15 290.72 Td (217) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 290.72 Td (107) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 495.80 290.72 Td (\(170) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 290.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.65 290.72 Td (2,342) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 39.50 278.72 Td (Amounts reclassified from AOCI) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 228.80 278.72 Td (\(84) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.15 278.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.80 278.72 Td (\(28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.15 278.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.80 278.72 Td (\(86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.15 278.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.15 278.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 278.72 Td (97) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.80 278.72 Td (\(101) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 576.15 278.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 33.50 266.72 Td (Net OCI) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.65 266.72 Td (2,067) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.15 266.72 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.15 266.72 Td (131) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 266.72 Td (107) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 500.80 266.72 Td (\(73) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 266.72 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 553.65 266.72 Td (2,241) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 33.50 254.83 Td (Ending balance) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 180.50 254.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 219.65 254.83 Td (1,511) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 248.50 254.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 296.80 254.88 Td (\(99) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 310.15 254.83 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 316.50 254.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 363.15 254.83 Td (516) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 384.50 254.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.15 254.83 Td (574) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.50 254.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.30 254.88 Td (\(1,251) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.15 254.83 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 520.50 254.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 553.65 254.83 Td (1,251) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 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9.00 Tf ET q 0 0 0 rg BT 292.90 664.00 Td (For year ended) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 295.80 655.00 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.00 646.05 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 367.90 664.00 Td (For year ended) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.80 655.00 Td (December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 388.20 646.05 Td (2011) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 634.38 Td (Net Unrealized Gain on Securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 623.22 Td (Available-for-sale securities [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 211.50 623.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.65 623.22 Td (1,562) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.50 623.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.15 623.22 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.50 623.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 623.22 Td (129) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 623.22 Td (Netrealizedcapitalgains \(losses\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 258.65 612.38 Td (1,562) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.15 612.38 Td (32) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.15 612.38 Td (129) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 612.38 Td (Total before tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.15 601.22 Td (547) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.15 601.22 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 601.22 Td (45) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 601.22 Td (Income tax expense) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 211.50 590.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 258.65 590.38 Td (1,015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.50 590.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.15 590.38 Td (21) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.50 590.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.15 590.38 Td (84) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 590.38 Td (Net income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 579.33 Td (OTTI Losses in OCI) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 567.22 Td (Other than temporary impairments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 211.50 567.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.15 567.22 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.50 567.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.15 567.22 Td (149) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.50 567.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 567.22 Td (43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 567.22 Td (Netrealizedcapitalgains \(losses\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 271.15 556.38 Td (25) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 341.15 556.38 Td (149) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.15 556.38 Td (43) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 556.38 Td (Total before tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.15 545.22 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.15 545.22 Td (52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 545.22 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 545.22 Td (Income tax expense \(benefit\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 211.50 534.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 271.15 534.38 Td (16) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.50 534.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.15 534.38 Td (97) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.50 534.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.15 534.38 Td (28) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 534.38 Td (Net income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 523.38 Td (Net Gains on Cash Flow Hedging) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 512.22 Td (Interest rate swaps [2]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 211.50 512.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.15 512.22 Td (91) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.50 512.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.15 512.22 Td (90) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.50 512.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.15 512.22 Td (9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 512.22 Td (Netrealizedcapitalgains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 501.22 Td (Interest rate swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.15 501.22 Td (97) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 341.15 501.22 Td (140) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 416.15 501.22 Td (126) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 501.22 Td (Net investment income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 490.22 Td (Foreign currency swaps) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.15 490.22 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.80 490.22 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.15 490.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.80 490.22 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 490.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 490.22 Td (Netrealizedcapitalgains \(losses\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.15 479.38 Td (192) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 341.15 479.38 Td (224) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.15 479.38 Td (132) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 479.38 Td (Total before tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.15 468.22 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.15 468.22 Td (78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 468.22 Td (46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 468.22 Td (Income tax expense) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 211.50 457.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 266.15 457.38 Td (125) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.50 457.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 341.15 457.38 Td (146) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.50 457.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.15 457.38 Td (86) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 457.38 Td (Net income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 446.33 Td (Foreign Currency Translation) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 436.33 Td (Adjustments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 424.22 Td (Currency translation adjustments [3]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 211.50 424.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.80 424.22 Td (\(34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.15 424.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.50 424.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.15 424.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.50 424.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 424.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 424.22 Td (Netrealizedcapitalgains \(losses\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 267.80 413.38 Td (\(34) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.15 413.38 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.15 413.38 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.15 413.38 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 413.38 Td (Total before tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.80 402.22 Td (\(12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.15 402.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.15 402.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 402.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 402.22 Td (Income tax expense) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 211.50 391.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 267.80 391.38 Td (\(22) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.15 391.38 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.50 391.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.15 391.38 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.50 391.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 421.15 391.38 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 391.38 Td (Net income \(loss\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 381.00 Td (Pension and Other Postretirement Plan) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 372.00 Td (Adjustments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 359.22 Td (Amortization of prior service costs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 211.50 359.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.15 359.22 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 287.50 359.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.80 359.22 Td (\(90) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.15 359.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.50 359.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 359.22 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 359.22 Td (Insurance operating costs and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 348.22 Td (Amortization of actuarial gains \(losses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.80 348.22 Td (\(61) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.15 348.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.80 348.22 Td (\(232) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.15 348.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.80 348.22 Td (\(159) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 348.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 348.22 Td (Insurance operating costs and) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 267.80 337.38 Td (\(54) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.15 337.38 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 337.80 337.38 Td (\(322) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 356.15 337.38 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.80 337.38 Td (\(149) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.15 337.38 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 337.38 Td (Total before tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.80 326.22 Td (\(19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.15 326.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.80 326.22 Td (\(113) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 356.15 326.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.80 326.22 Td (\(52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 431.15 326.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 326.22 Td (Income tax expense) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 267.80 315.38 Td (\(35) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.15 315.38 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 337.80 315.38 Td (\(209) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 356.15 315.38 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 417.80 315.38 Td (\(97) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.15 315.38 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 315.38 Td (Net income \(loss\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 304.38 Td (Total amounts reclassified from AOCI) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 211.50 304.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 258.65 304.38 Td (1,099) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 287.50 304.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.15 304.38 Td (55) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.50 304.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 416.15 304.38 Td (101) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 304.38 Td (Net income \(loss\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 286.30 Td ([1] ) Tj ET Q q 0 0 0 rg BT 58.50 286.30 Td (The ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 74.25 286.30 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 144.98 286.30 Td ( amount includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 208.72 286.30 Td ($1.5 billion) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 250.22 286.30 Td ( of net unr) Tj ET Q q 0 0 0 rg BT 287.14 286.30 Td (ealized gains on securities r) Tj ET Q q 0 0 0 rg BT 387.80 286.30 Td (elating to the sales of the Retir) Tj ET Q q 0 0 0 rg BT 497.94 286.30 Td (ement Plans and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 275.50 Td (Individual Life businesses.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 264.70 Td ([2] ) Tj ET Q q 0 0 0 rg BT 58.50 264.70 Td (The ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 74.25 264.70 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 144.98 264.70 Td ( amount includes ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 208.72 264.70 Td ($71) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 222.22 264.70 Td ( of net gains on cash flow hedging instruments r) Tj ET Q q 0 0 0 rg BT 395.14 264.70 Td (elating to the sales of the Retir) Tj ET Q q 0 0 0 rg BT 505.29 264.70 Td (ement Plans and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 67.50 253.90 Td (Individual Life businesses.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 243.10 Td ([3] ) Tj ET Q q 0 0 0 rg BT 58.50 243.10 Td (The ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 74.25 243.10 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 144.98 243.10 Td ( amount r) Tj ET Q q 0 0 0 rg BT 179.65 243.10 Td (elates to the sale of the UK variable annuity business.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (17) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 42.00 731.80 Td (. ) Tj ET Q q 0 0 0 rg BT 47.50 731.80 Td (Changes ) Tj ET Q q 0 0 0 rg BT 90.59 731.80 Td (in ) Tj ET Q q 0 0 0 rg BT 102.52 731.80 Td (and ) Tj ET Q q 0 0 0 rg BT 123.00 731.80 Td (Reclassifications ) Tj ET Q q 0 0 0 rg BT 203.35 731.80 Td (Fr) Tj ET Q q 0 0 0 rg BT 214.76 731.80 Td (om ) Tj ET Q q 0 0 0 rg BT 231.56 731.80 Td (Accumulated ) Tj ET Q q 0 0 0 rg BT 296.64 731.80 Td (Other) Tj ET Q q 0 0 0 rg BT 324.54 731.80 Td ( ) Tj ET Q q 0 0 0 rg BT 327.29 731.80 Td (Compr) Tj ET Q q 0 0 0 rg BT 360.70 731.80 Td (ehensive ) Tj ET Q q 0 0 0 rg BT 403.17 731.80 Td (Income ) Tj ET Q q 0 0 0 rg BT 440.74 731.80 Td (\(Loss\) ) Tj ET Q q 0 0 0 rg BT 472.22 731.80 Td (\(continued\)) Tj ET Q endstream endobj 449 0 obj <> endobj 450 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-88) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (18) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 42.50 712.60 Td (. ) Tj ET Q q 0 0 0 rg BT 48.00 712.60 Td (Employee ) Tj ET Q q 0 0 0 rg BT 97.19 712.60 Td (Benefit ) Tj ET Q q 0 0 0 rg BT 133.54 712.60 Td (Plans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 694.60 Td (The Company maintains ) Tj ET Q q 0 0 0 rg BT 132.13 694.60 Td (The Hartford Retirement Plan for U.S. Employees, a U.S. qualified defined benefit pension plan \(the Plan\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 682.60 Td (that covers substantially all U.S. employees hired prior to January 1, 2013. Ef) Tj ET Q q 0 0 0 rg BT 341.81 682.60 Td (fective for all employees who joined the Company on or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 670.60 Td (after January1, 2001, a new component or formula was applied under the Plan referred to as the cash balance formula. ) Tj ET Q q 0 0 0 rg BT 517.79 670.60 Td (The Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 658.60 Td (began using the cash balance formula to calculate future pension benefits for services rendered on or after January1, 2009 for all ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 646.60 Td (employees hired before January 1, 2001. ) Tj ET Q q 0 0 0 rg BT 196.27 646.60 Td (These amounts are in addition to amounts earned by those employees through December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 634.60 Td (2008 under the traditional final average pay formula.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 616.60 Td (The Company also maintains non-qualified pension plans to provide retirement benefits previously accrued that are in excess of Internal ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 604.60 Td (Revenue Code limitations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 586.60 Td (Ef) Tj ET Q q 0 0 0 rg BT 40.76 586.60 Td (fective December 31, 2012, the Company amended the Plan to freeze participation and benefit accruals. ) Tj ET Q q 0 0 0 rg BT 458.37 586.60 Td (As a result, employees do not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 574.60 Td (accrue further benefits under the cash balance formula of the plan after that date, although interest will continue to accrue to existing ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 562.60 Td (account balances. Compensation earned by employees up to December 31, 2012 will be used for purposes of calculating benefits under ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 550.60 Td (the Plan but there will be no future benefit accruals after that date. Participants as of December 31, 2012 will continue to earn vesting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 538.60 Td (credit with respect to their frozen accrued benefits as they continue to work. ) Tj ET Q q 0 0 0 rg BT 337.87 538.60 Td (The freeze also applies to ) Tj ET Q q 0 0 0 rg BT 442.36 538.60 Td (The Hartford Excess Pension Plan ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 526.60 Td (II, the Company's non-qualified excess benefit plan for certain highly compensated employees.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 508.60 Td (The Company provides certain health care and life insurance benefits for eligible retired employees. ) Tj ET Q q 0 0 0 rg BT 434.21 508.60 Td (The Company) Tj ET Q q 0 0 0 rg BT 493.93 508.60 Td (s contribution for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 496.60 Td (health care benefits will depend upon the retiree) Tj ET Q q 0 0 0 rg BT 226.70 496.60 Td (s date of retirement and years of service. In addition, the plan has a defined dollar cap ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 484.60 Td (for certain retirees which limits average Company contributions. ) Tj ET Q q 0 0 0 rg BT 292.07 484.60 Td (The Hartford has prefunded a portion of the health care obligations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 472.60 Td (through a trust fund where such prefunding can be accomplished on a tax ef) Tj ET Q q 0 0 0 rg BT 334.83 472.60 Td (fective basis. Ef) Tj ET Q q 0 0 0 rg BT 398.79 472.60 Td (fective January1, 2002, Company-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 460.60 Td (subsidized retiree medical, retiree dental and retiree life insurance benefits were eliminated for employees with original hire dates with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 448.60 Td (the Company on or after January1, 2002. ) Tj ET Q q 0 0 0 rg BT 200.17 448.60 Td (The Company also amended its postretirement medical, dental and life insurance coverage ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 436.60 Td (plans to no longer provide subsidized coverage for employees who retire on or after January 1, 2014. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 418.60 Td (Assumptions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 400.60 Td (Pursuant to accounting principles related to the Company) Tj ET Q q 0 0 0 rg BT 263.95 400.60 Td (s pension and other postretirement obligations to employees under its various ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 388.60 Td (benefit plans, the Company is required to make a significant number of assumptions in order to calculate the related liabilities and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 376.60 Td (expenses each period. ) Tj ET Q q 0 0 0 rg BT 121.28 376.60 Td (The two economic assumptions that have the most impact on pension and other postretirement expense are the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 364.60 Td (discount rate and the expected long-term rate of return on plan assets. In determining the discount rate assumption, the Company utilizes ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 352.60 Td (a discounted cash flow analysis of the Company) Tj ET Q q 0 0 0 rg BT 227.29 352.60 Td (s pension and other postretirement obligations and currently available market and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 340.60 Td (industry data. ) Tj ET Q q 0 0 0 rg BT 88.25 340.60 Td (The yield curve utilized in the cash flow analysis is comprised of bonds rated ) Tj ET Q q 0 0 0 rg BT 399.28 340.60 Td (Aa or higher with maturities primarily ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 328.60 Td (between ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.32 328.60 Td (zero) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 84.52 328.60 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 103.96 328.60 Td (thirty) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 125.63 328.60 Td ( years. Based on all available information, it was determined that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.04 328.60 Td (4.75%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.87 328.60 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.31 328.60 Td (4.25%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.14 328.60 Td ( were the appropriate discount ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 316.60 Td (rates ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.88 316.60 Td (as of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 153.12 316.60 Td ( to calculate the Company) Tj ET Q q 0 0 0 rg BT 260.31 316.60 Td (s pension and other postretirement obligations, respectively) Tj ET Q q 0 0 0 rg BT 497.66 316.60 Td (. ) Tj ET Q q 0 0 0 rg BT 502.11 316.60 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 551.44 316.60 Td (, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 304.60 Td (4.75%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.33 304.60 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.77 304.60 Td (4.25%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 102.60 304.60 Td ( discount rates will also be used to determine the Company) Tj ET Q q 0 0 0 rg BT 341.44 304.60 Td (s 2014 pension and other postretirement expense, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 292.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 292.60 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 274.60 Td (The Company determines the expected long-term rate of return assumption based on an analysis of the Plan portfolio) Tj ET Q q 0 0 0 rg BT 502.76 274.60 Td (s historical ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 262.60 Td (compound rates of return since 1979 \(the earliest date for which comparable portfolio data is available\) and over 5year and 10year ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 250.60 Td (periods. ) Tj ET Q q 0 0 0 rg BT 65.76 250.60 Td (The Company selected these periods, as well as shorter durations, to assess the portfolio) Tj ET Q q 0 0 0 rg BT 420.95 250.60 Td (s volatility) Tj ET Q q 0 0 0 rg BT 462.80 250.60 Td (, duration and total returns as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 238.60 Td (they relate to pension obligation characteristics, which are influenced by the Company) Tj ET Q q 0 0 0 rg BT 380.27 238.60 Td (s workforce demographics. In addition, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 226.60 Td (Company also applies long-term market return assumptions to an investment mix that generally anticipates ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 461.95 226.60 Td (60%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.28 226.60 Td ( fixed income securities, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 214.60 Td (20%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.83 214.60 Td ( equity securities and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 137.03 214.60 Td (20%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 155.36 214.60 Td ( alternative assets to derive an expected long-term rate of return. Based upon these analyses, management ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 202.60 Td (determined the long-term rate of return assumption to be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 260.60 202.60 Td (7.10%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.43 202.60 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 288.93 202.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 292.93 202.60 Td (This assumption will also be used to determine the Company's 2014 ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 190.60 Td (expense.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 172.60 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 172.60 Td (eighted average assumptions used in calculating the benefit obligations and the net amount recognized as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.89 172.60 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.48 172.60 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 160.60 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 160.60 Td ( were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 114.10 192.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 224.00 114.10 76.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 300.00 114.10 76.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 114.10 76.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 452.00 114.10 76.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 129.10000000000002 m 300 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 129.10000000000002 m 376 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 129.10000000000002 m 452 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 129.10000000000002 m 528 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 129.10000000000002 m 300 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 224 114.10000000000002 m 300 114.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 129.10000000000002 m 376 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 114.10000000000002 m 376 114.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 129.10000000000002 m 452 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 114.10000000000002 m 452 114.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 129.10000000000002 m 528 129.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 452 114.10000000000002 m 528 114.10000000000002 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 133.77 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 267.85 133.55 Td (Pension Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.75 133.55 Td (Other Postretirement Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 118.77 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 252.50 118.55 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 328.50 118.55 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.50 118.55 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.50 118.55 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 104.67 Td (Discount rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.65 104.67 Td (4.75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.15 104.67 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.65 104.67 Td (4.00) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.15 104.67 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.65 104.67 Td (4.25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.15 104.67 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 501.65 104.67 Td (3.50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 104.67 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 90.67 Td (Rate of increase in compensation levels) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.15 90.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.15 90.67 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 349.65 90.67 Td (3.75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.15 90.67 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.30 90.67 Td ( N/A) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.30 90.67 Td ( N/A) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 451 0 obj <> endobj 452 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-89) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 713.10 Td (eighted average assumptions used in calculating the net periodic benefit cost for the Company) Tj ET Q q 0 0 0 rg BT 419.19 713.10 Td (s pension plans were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 667.60 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 667.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 667.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 667.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 639.60 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 639.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 639.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 639.60 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 682.6 m 442 682.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 682.6 m 498 682.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 682.6 m 554 682.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 667.6 m 442 667.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 667.6 m 498 667.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 667.6 m 554 667.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 687.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.15 687.05 Td (For the years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 672.27 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.50 672.05 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.50 672.05 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.70 672.05 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 658.17 Td (Discount rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.65 658.17 Td (4.00) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 658.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.65 658.17 Td (4.50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 658.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.65 658.17 Td (5.50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 658.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 644.17 Td (Expected long-term rate of return on plan assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.65 644.17 Td (7.10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 644.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.65 644.17 Td (7.30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 644.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.65 644.17 Td (7.30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 644.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 630.17 Td (Rate of increase in compensation levels) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.65 630.17 Td (3.75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 630.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.65 630.17 Td (3.75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 630.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.65 630.17 Td (4.00) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 630.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 608.10 Td (W) Tj ET Q q 0 0 0 rg BT 40.14 608.10 Td (eighted average assumptions used in calculating the net periodic benefit cost for the Company) Tj ET Q q 0 0 0 rg BT 419.19 608.10 Td (s other postretirement plans were as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 596.10 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 550.60 354.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 550.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 550.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 550.60 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 565.6 m 442 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 565.6 m 498 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 565.6 m 554 565.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 550.6 m 442 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 550.6 m 498 550.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 550.6 m 554 550.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 570.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.15 570.05 Td (For the years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 555.27 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.50 555.05 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.50 555.05 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.70 555.05 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 541.17 Td (Discount rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.65 541.17 Td (3.50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 541.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.65 541.17 Td (4.00) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 541.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.65 541.17 Td (5.25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 541.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 527.17 Td (Expected long-term rate of return on plan assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.65 527.17 Td (7.10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 527.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.65 527.17 Td (7.30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 527.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.65 527.17 Td (7.30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 527.17 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 505.10 Td (Assumed health care cost trend rates were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 459.60 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 459.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 459.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 459.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 429.60 354.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 429.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 429.60 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 429.60 56.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 474.6 m 442 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 474.6 m 498 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 474.6 m 554 474.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 459.6 m 442 459.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 459.6 m 498 459.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 459.6 m 554 459.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 479.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 432.30 479.05 Td (As of December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 464.27 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.50 464.05 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.50 464.05 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.70 464.05 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 449.27 Td (Pre-65 health care cost trend rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.65 449.27 Td (8.05) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 449.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.65 449.27 Td (8.45) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 449.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.65 449.27 Td (8.95) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 449.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 434.27 Td (Post-65 health care cost trend rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.65 434.27 Td (5.70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 434.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.65 434.27 Td (6.15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 434.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.65 434.27 Td (7.75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 434.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 419.27 Td (Rate to which the cost trend rate is assumed to decline \(the ultimate trend rate\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.65 419.27 Td (5.00) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 419.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.65 419.27 Td (4.75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 419.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.65 419.27 Td (5.00) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 419.27 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 404.27 Td (Year that the rate reaches the ultimate trend rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.50 404.27 Td (2021) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.50 404.27 Td (2020) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.50 404.27 Td (2019) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 382.10 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 382.10 Td ( one-percentage point change in assumed health care cost trend rates would have an insignificant ef) Tj ET Q q 0 0 0 rg BT 435.33 382.10 Td (fect on the amounts reported for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 370.10 Td (other postretirement plans.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 352.10 Td (Obligations and Funded Status) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 334.10 Td (The following tables set forth a reconciliation of beginning and ending balances of the benefit obligation and fair value of plan assets, as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 322.10 Td (well as the funded status of ) Tj ET Q q 0 0 0 rg BT 142.96 322.10 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 198.21 322.10 Td (s defined benefit pension and postretirement health care and life insurance benefit plans for the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 310.10 Td (years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 81.48 310.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 160.06 310.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 179.50 310.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 199.50 310.10 Td (. International plans represent an immaterial percentage of total pension assets, liabilities and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 298.10 Td (expense and, for reporting purposes, are combined with domestic plans.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 241.60 298.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 241.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 241.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 241.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 241.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 213.60 298.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 213.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 213.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 213.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 213.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 185.60 298.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 185.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 185.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 185.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 185.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 157.60 298.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 157.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 157.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 157.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 157.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 129.60 298.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 129.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 129.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 129.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 129.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 101.60 298.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 330.00 101.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 386.00 101.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 442.00 101.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 498.00 101.60 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 255.60000000000002 m 386 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 255.60000000000002 m 442 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 255.60000000000002 m 498 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 255.60000000000002 m 554 255.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 241.60000000000002 m 330 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 241.60000000000002 m 386 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 241.60000000000002 m 442 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 241.60000000000002 m 498 241.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 241.60000000000002 m 554 241.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 87.60000000000002 m 330 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 74.60000000000002 m 330 74.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 330 87.60000000000002 m 386 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 330 74.60000000000002 m 386 74.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 87.60000000000002 m 442 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 74.60000000000002 m 442 74.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 442 87.60000000000002 m 498 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 74.60000000000002 m 498 74.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 498 87.60000000000002 m 554 87.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 74.60000000000002 m 554 74.60000000000002 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 34.50 260.06 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 353.85 260.05 Td (Pension Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 456.35 269.05 Td (Other Postretirement) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.00 260.05 Td (Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 246.05 Td (Change in Benefit Obligation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 348.50 246.05 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 404.50 246.05 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.50 246.05 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 516.50 246.05 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 232.28 Td (Benefit obligation beginning of year) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 332.50 232.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.65 232.28 Td (6,080) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 388.50 232.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.65 232.28 Td (5,465) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 444.50 232.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.15 232.28 Td (313) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 500.50 232.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 535.15 232.28 Td (424) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 218.17 Td (Service cost \(excluding expenses\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 377.15 218.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.15 218.17 Td (92) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 218.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 218.17 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 204.17 Td (Interest cost) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.15 204.17 Td (238) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 204.17 Td (250) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 204.17 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.15 204.17 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 190.17 Td (Plan participants contributions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.15 190.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.15 190.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 190.17 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.15 190.17 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 176.17 Td (Actuarial loss \(gain\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.15 176.17 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.15 176.17 Td (28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 176.17 Td (39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 176.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 162.17 Td (Settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.15 162.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.80 162.22 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 162.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 162.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.15 162.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 148.17 Td (Curtailment gain due to plan freeze) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.15 148.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 424.80 148.22 Td (\(42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 148.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 148.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.80 148.17 Td (\(116) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.15 148.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 134.17 Td (Change in assumptions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.80 134.22 Td (\(508) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.15 134.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.15 134.17 Td (545) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.80 134.22 Td (\(19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.15 134.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.15 134.17 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 120.17 Td (Benefits paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.80 120.22 Td (\(308) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.15 120.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.80 120.22 Td (\(256) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.15 120.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.80 120.22 Td (\(58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.15 120.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 536.80 120.17 Td (\(54) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 550.15 120.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 106.17 Td (Retiree drug subsidy) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.15 106.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 428.15 106.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.15 106.17 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.15 106.17 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 92.17 Td (Foreign exchange adjustment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.80 92.22 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.15 92.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.15 92.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.15 92.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.15 92.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 78.33 Td (Benefit obligation end of year) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 332.50 78.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.65 78.33 Td (5,516) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 388.50 78.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.65 78.33 Td (6,080) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 444.50 78.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.15 78.33 Td (312) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 500.50 78.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 535.15 78.33 Td (313) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (18. Employee Benefit Plans \(continued\)) Tj ET Q endstream endobj 453 0 obj <> endobj 454 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-90) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 677.50 322.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 677.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 677.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 677.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 677.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 649.50 322.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 649.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 649.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 649.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 649.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 621.50 322.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 621.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 621.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 621.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 621.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 593.50 322.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 593.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 593.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 593.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 593.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 566.50 322.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 354.00 566.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 410.00 566.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 566.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 522.00 566.50 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354 691.5 m 410 691.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 691.5 m 466 691.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 691.5 m 522 691.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522 691.5 m 578 691.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 677.5 m 354 677.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354 677.5 m 410 677.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 677.5 m 466 677.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 677.5 m 522 677.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522 677.5 m 578 677.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 579.5 m 354 579.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 354 579.5 m 410 579.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 579.5 m 466 579.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 579.5 m 522 579.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 579.5 m 578 579.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 566.5 m 354 566.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 552.5 m 354 552.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 354 566.5 m 410 566.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354 552.5 m 410 552.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 410 566.5 m 466 566.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 410 552.5 m 466 552.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 566.5 m 522 566.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 552.5 m 522 552.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 522 566.5 m 578 566.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 522 552.5 m 578 552.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 710.07 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 356.50 709.96 Td () Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 412.50 709.96 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 480.35 709.95 Td (Other Postretirement) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 696.07 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 377.85 695.95 Td (Pension Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 506.00 695.95 Td (Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 681.95 Td (Change in Plan Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 372.50 681.95 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.50 681.95 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.50 681.95 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 540.50 681.95 Td (2012) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 668.18 Td (Fair value of plan assets beginning of year) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 356.50 668.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.65 668.18 Td (4,850) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.50 668.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.65 668.18 Td (4,513) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.50 668.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.15 668.18 Td (220) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.50 668.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.15 668.18 Td (203) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 654.07 Td (Actual return on plan assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.80 654.12 Td (\(27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.15 654.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 654.07 Td (381) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 654.07 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 654.07 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 640.07 Td (Employer contributions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.15 640.07 Td (101) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.15 640.07 Td (201) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 640.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 640.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 626.07 Td (Benefits paid [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.80 626.12 Td (\(278) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.15 626.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.80 626.12 Td (\(230) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 626.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.80 626.12 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.15 626.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 626.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 612.07 Td (Expenses paid) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.80 612.12 Td (\(15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.15 612.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.80 612.12 Td (\(13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 612.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 612.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 612.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 598.07 Td (Settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 598.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.80 598.12 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 598.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 598.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 598.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 584.07 Td (Foreign exchange adjustment) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.80 584.12 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 406.15 584.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 584.07 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 584.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.15 584.07 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 570.23 Td (Fair value of plan assets end of year) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 356.50 570.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.65 570.23 Td (4,630) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.50 570.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.65 570.23 Td (4,850) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.50 570.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.15 570.23 Td (213) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.50 570.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 559.15 570.23 Td (220) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 557.18 Td (Funded status end of year) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 356.50 557.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 387.80 557.23 Td (\(886) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 406.15 557.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 412.50 557.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.30 557.23 Td (\(1,230) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 462.15 557.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.50 557.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 504.80 557.23 Td (\(99) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 518.15 557.18 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 524.50 557.18 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 560.80 557.18 Td (\(93) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 574.15 557.18 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 536.20 Td ([1] ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 536.20 Td (In 2013 other postr) Tj ET Q q 0 0 0 rg BT 118.92 536.20 Td (etir) Tj ET Q q 0 0 0 rg BT 131.08 536.20 Td (ement benefits paid r) Tj ET Q q 0 0 0 rg BT 206.48 536.20 Td (epr) Tj ET Q q 0 0 0 rg BT 218.14 536.20 Td (esent non-key employee postr) Tj ET Q q 0 0 0 rg BT 324.02 536.20 Td (etir) Tj ET Q q 0 0 0 rg BT 336.18 536.20 Td (ement medical benefits paid fr) Tj ET Q q 0 0 0 rg BT 444.82 536.20 Td (om the Company's pr) Tj ET Q q 0 0 0 rg BT 521.16 536.20 Td (efunded trust ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 525.40 Td (fund. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 513.40 Td (The fair value of assets for pension benefits, and hence the funded status, presented in the table above excludes assets of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.95 513.40 Td ($123) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.95 513.40 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.39 513.40 Td ($1) Tj ET Q q 0 0 0 rg BT 564.01 513.40 Td (16) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.01 513.40 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 501.40 Td (held in rabbi trusts and designated for the non-qualified pension plans ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 313.38 501.40 Td (as of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.62 501.40 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.06 501.40 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.06 501.40 Td (, respectively) Tj ET Q q 0 0 0 rg BT 505.72 501.40 Td (. ) Tj ET Q q 0 0 0 rg BT 510.54 501.40 Td (The assets do not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 489.40 Td (qualify as plan assets; however) Tj ET Q q 0 0 0 rg BT 155.51 489.40 Td (, the assets are available to pay benefits for certain retired, terminated and active participants. Such assets ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 477.40 Td (are available to the Company) Tj ET Q q 0 0 0 rg BT 151.46 477.40 Td (s general creditors in the event of insolvency) Tj ET Q q 0 0 0 rg BT 329.91 477.40 Td (. ) Tj ET Q q 0 0 0 rg BT 334.73 477.40 Td (The assets consist of equity and fixed income investments. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 465.40 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 465.40 Td (o the extent the fair value of these rabbi trusts were included in the table above, pension plan assets would have been ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.48 465.40 Td ($4,753) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.98 465.40 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 453.40 Td ($4,966) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 59.00 453.40 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 61.50 453.40 Td (as of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 161.74 453.40 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 181.18 453.40 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.18 453.40 Td (, respectively) Tj ET Q q 0 0 0 rg BT 253.84 453.40 Td (, and the funded status of pension benefits would have been ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 494.89 453.40 Td ($\(763\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.55 453.40 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 540.99 453.40 Td ($\(1,1) Tj ET Q q 0 0 0 rg BT 561.45 453.40 Td (14\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 574.78 453.40 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 441.40 Td (as of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 131.74 441.40 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 151.18 441.40 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 171.18 441.40 Td (, respectively) Tj ET Q q 0 0 0 rg BT 223.84 441.40 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 423.40 Td (The accumulated benefit obligation for all defined benefit pension plans was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.56 423.40 Td ($5,515) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 368.06 423.40 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.50 423.40 Td ($6,079) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.00 423.40 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.50 423.40 Td (as of December 31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.75 423.40 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 537.18 423.40 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.18 423.40 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 411.40 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 411.40 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 393.40 Td (The following table provides information for ) Tj ET Q q 0 0 0 rg BT 213.50 393.40 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 268.75 393.40 Td (s defined benefit pension plans with an accumulated benefit obligation in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 381.40 Td (excess of plan assets.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 340.90 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 340.90 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 340.90 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 312.90 392.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 312.90 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 312.90 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 350.9 m 480 350.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 350.9 m 536 350.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 340.9 m 480 340.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 340.9 m 536 340.9 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 355.47 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.30 355.35 Td (As of December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 442.50 342.35 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.50 342.35 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 331.47 Td (Projected benefit obligation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.50 331.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.65 331.47 Td (5,516) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.50 331.47 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.65 331.47 Td (6,080) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 317.47 Td (Accumulated benefit obligation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.65 317.47 Td (5,515) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.65 317.47 Td (6,079) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 303.47 Td (Fair value of plan assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.65 303.47 Td (4,630) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.65 303.47 Td (4,850) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 281.40 Td (Amounts ) Tj ET Q q 0 0 0 rg BT 70.67 281.40 Td (recognized ) Tj ET Q q 0 0 0 rg BT 117.03 281.40 Td (in ) Tj ET Q q 0 0 0 rg BT 127.31 281.40 Td (the ) Tj ET Q q 0 0 0 rg BT 142.03 281.40 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 197.30 281.40 Td (Balance ) Tj ET Q q 0 0 0 rg BT 232.00 281.40 Td (Sheets ) Tj ET Q q 0 0 0 rg BT 260.61 281.40 Td (as ) Tj ET Q q 0 0 0 rg BT 271.44 281.40 Td (of ) Tj ET Q q 0 0 0 rg BT 282.27 281.40 Td (December ) Tj ET Q q 0 0 0 rg BT 325.86 281.40 Td (31 ) Tj ET Q q 0 0 0 rg BT 338.36 281.40 Td (consist ) Tj ET Q q 0 0 0 rg BT 368.63 281.40 Td (of:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 232.90 244.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 232.90 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 232.90 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.00 232.90 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 232.90 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 208.90 244.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 208.90 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 208.90 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.00 208.90 65.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 208.90 65.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 244.89999999999998 m 341 244.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 244.89999999999998 m 406 244.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 244.89999999999998 m 471 244.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 244.89999999999998 m 536 244.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 232.89999999999998 m 341 232.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 232.89999999999998 m 406 232.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 232.89999999999998 m 471 232.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 232.89999999999998 m 536 232.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 208.89999999999998 m 276 208.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 196.89999999999998 m 276 196.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 276 208.89999999999998 m 341 208.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 196.89999999999998 m 341 196.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 341 208.89999999999998 m 406 208.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 196.89999999999998 m 406 196.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 406 208.89999999999998 m 471 208.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 196.89999999999998 m 471 196.89999999999998 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 471 208.89999999999998 m 536 208.89999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 196.89999999999998 m 536 196.89999999999998 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 249.57 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 308.85 249.35 Td (Pension Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 412.75 249.35 Td (Other Postretirement Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 299.00 236.30 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 364.00 236.30 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.00 236.30 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 494.00 236.30 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 223.52 Td (Other assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.50 223.52 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.15 223.52 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.50 223.52 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.15 223.52 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.50 223.52 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 223.52 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.50 223.52 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.15 223.52 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 211.52 Td (Other liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 211.52 Td (886) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.65 211.52 Td (1,230) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 211.52 Td (99) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.15 211.52 Td (93) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 199.63 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 278.50 199.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 322.15 199.63 Td (886) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 343.50 199.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 379.65 199.63 Td (1,230) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 408.50 199.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.15 199.63 Td (99) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.50 199.63 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 522.15 199.63 Td (93) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (18. Employee Benefit Plans \(continued\)) Tj ET Q endstream endobj 455 0 obj <> endobj 456 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-91) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Components ) Tj ET Q q 0 0 0 rg BT 87.90 713.25 Td (of ) Tj ET Q q 0 0 0 rg BT 98.73 713.25 Td (Net ) Tj ET Q q 0 0 0 rg BT 116.22 713.25 Td (Periodic ) Tj ET Q q 0 0 0 rg BT 154.26 713.25 Td (Benefit ) Tj ET Q q 0 0 0 rg BT 187.31 713.25 Td (Cost ) Tj ET Q q 0 0 0 rg BT 209.25 713.25 Td (and ) Tj ET Q q 0 0 0 rg BT 227.87 713.25 Td (Other) Tj ET Q q 0 0 0 rg BT 253.24 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 255.19 713.25 Td (Amounts ) Tj ET Q q 0 0 0 rg BT 296.58 713.25 Td (Recognized ) Tj ET Q q 0 0 0 rg BT 347.96 713.25 Td (in ) Tj ET Q q 0 0 0 rg BT 358.80 713.25 Td (Other) Tj ET Q q 0 0 0 rg BT 384.17 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 386.67 713.25 Td (Compr) Tj ET Q q 0 0 0 rg BT 417.04 713.25 Td (ehensive ) Tj ET Q q 0 0 0 rg BT 455.65 713.25 Td (Income ) Tj ET Q q 0 0 0 rg BT 489.81 713.25 Td (\(Loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 695.25 Td (otal net periodic benefit cost includes the following components:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 649.75 234.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.00 649.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 649.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 649.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 649.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 649.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 649.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 621.75 234.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.00 621.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 621.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 621.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 621.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 621.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 621.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 593.75 234.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.00 593.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 311.00 593.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 356.00 593.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 401.00 593.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.00 593.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 593.75 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 565.75 234.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 266.00 565.75 45.00 -13.00 re f /GS0 gs 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1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 649.75 m 401 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 649.75 m 446 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 649.75 m 491 649.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 649.75 m 536 649.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 552.75 m 266 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 539.75 m 266 539.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 266 552.75 m 311 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 539.75 m 311 539.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 311 552.75 m 356 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 311 539.75 m 356 539.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 356 552.75 m 401 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 539.75 m 401 539.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 401 552.75 m 446 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 539.75 m 446 539.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 446 552.75 m 491 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 539.75 m 491 539.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 552.75 m 536 552.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 539.75 m 536 539.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 669.32 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 301.35 669.20 Td (Pension Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 410.25 669.20 Td (Other Postretirement Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 654.42 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 279.00 654.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 324.00 654.20 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 369.20 654.20 Td (2011) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 414.00 654.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.00 654.20 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.20 654.20 Td (2011) Tj ET Q 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(\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.80 612.37 Td (\(14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.15 612.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 598.32 Td (Amortization of prior service credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.15 598.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 343.80 598.37 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.15 598.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.80 598.37 Td (\(9) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.15 598.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.80 598.37 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.15 598.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.80 598.37 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 598.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.80 598.37 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.15 598.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 584.32 Td (Amortization of actuarial loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.15 584.32 Td (59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 337.15 584.32 Td (231) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.15 584.32 Td (159) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 584.32 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 584.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.15 584.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 570.32 Td (Settlements) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.15 570.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.15 570.32 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.15 570.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.15 570.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 570.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.15 570.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 556.32 Td (Curtailment gain due to plan freeze) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 297.15 556.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 338.80 556.37 Td (\(11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 352.15 556.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.15 556.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 432.15 556.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.80 556.37 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 556.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.15 556.32 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 543.48 Td (Net periodic benefit cost) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 268.50 543.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 293.80 543.53 Td (\(17) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 307.15 543.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.50 543.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 337.15 543.48 Td (242) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 358.50 543.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 382.15 543.48 Td (213) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 403.50 543.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.80 543.53 Td (\(8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 442.15 543.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 448.50 543.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 478.80 543.53 Td (\(2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.15 543.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.50 543.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 522.15 543.48 Td (10) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 522.25 Td (Amounts recognized in other comprehensive income \(loss\)were as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 470.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 470.75 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 470.75 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 470.75 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 470.75 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 444.75 247.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 444.75 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 444.75 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 444.75 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 444.75 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 419.75 247.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 279.00 419.75 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 419.75 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 407.00 419.75 64.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 419.75 64.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 485.75 m 343 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 485.75 m 407 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 485.75 m 471 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 485.75 m 535 485.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 470.75 m 343 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 470.75 m 407 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 470.75 m 471 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 470.75 m 535 470.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 419.75 m 279 419.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 406.75 m 279 406.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 279 419.75 m 343 419.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 279 406.75 m 343 406.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343 419.75 m 407 419.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 406.75 m 407 406.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 407 419.75 m 471 419.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 407 406.75 m 471 406.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 471 419.75 m 535 419.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 406.75 m 535 406.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 490.42 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 310.85 490.20 Td (Pension Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 412.75 490.20 Td (Other Postretirement Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 475.42 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 301.50 475.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 365.50 475.20 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 429.50 475.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 493.50 475.20 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 461.32 Td (Amortization of actuarial loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.50 461.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.80 461.37 Td (\(59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 461.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.50 461.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.80 461.37 Td (\(231) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.15 461.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.50 461.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.80 461.37 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.15 461.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.50 461.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.80 461.37 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 461.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 448.32 Td (Settlement loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.15 448.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.80 448.37 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.15 448.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 448.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 448.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 435.37 Td (Amortization of prior service credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.15 435.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.15 435.37 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 435.37 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.80 435.37 Td (\(111) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.15 435.37 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 423.32 Td (Net \(gain\) loss arising during the year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.80 423.37 Td (\(137) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.15 423.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.15 423.32 Td (477) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.15 423.32 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 423.32 Td (18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 410.48 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 281.50 410.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 320.80 410.53 Td (\(196) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 339.15 410.48 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 345.50 410.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 388.15 410.48 Td (266) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 409.50 410.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.15 410.48 Td (26) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 473.50 410.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.80 410.53 Td (\(94) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 531.15 410.48 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.25 Td (Amounts in accumulated other comprehensive income \(loss\)on a before tax basis that have not yet been recognized as components of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.25 Td (net periodic benefit cost consist of:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 338.75 248.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 280.00 338.75 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 338.75 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 408.00 338.75 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 338.75 64.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 349.75 m 344 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 349.75 m 408 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 349.75 m 472 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 349.75 m 536 349.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 338.75 m 344 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 338.75 m 408 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 338.75 m 472 338.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 338.75 m 536 338.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 313.75 m 280 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 302.75 m 280 302.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 280 313.75 m 344 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 280 302.75 m 344 302.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 344 313.75 m 408 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344 302.75 m 408 302.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 408 313.75 m 472 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 302.75 m 472 302.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 472 313.75 m 536 313.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 302.75 m 536 302.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 311.85 352.20 Td (Pension Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 413.75 352.20 Td (Other Postretirement Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 302.50 341.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.50 341.20 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.50 341.20 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 494.50 341.20 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 329.37 Td (Net loss) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.50 329.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 317.65 329.37 Td (1,979) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.50 329.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.65 329.37 Td (2,175) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.50 329.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.15 329.37 Td (77) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.50 329.37 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.15 329.37 Td (58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 317.32 Td (Prior service credit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 317.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 317.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.80 317.37 Td (\(103) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.15 317.32 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.80 317.37 Td (\(110) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.15 317.32 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 304.53 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 282.50 304.53 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 317.65 304.53 Td (1,979) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.50 304.53 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 381.65 304.53 Td (2,175) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 410.50 304.53 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.80 304.53 Td (\(26) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.15 304.53 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 474.50 304.53 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 518.80 304.53 Td (\(52) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 532.15 304.53 Td (\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 285.25 Td (The estimated net loss for the defined benefit pension plans that will be amortized from accumulated other comprehensive income ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 273.25 Td (\(loss\)into net periodic benefit cost during ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 201.74 273.25 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.74 273.25 Td ( is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 233.41 273.25 Td ($44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 248.41 273.25 Td (. ) Tj ET Q q 0 0 0 rg BT 255.73 273.25 Td (The estimated prior service cost for the other postretirement benefit plans that ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 261.25 Td (will be amortized from accumulated other comprehensive income \(loss\)into net periodic benefit cost during ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.19 261.25 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.19 261.25 Td ( is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.86 261.25 Td ($\(7\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.52 261.25 Td (. ) Tj ET Q q 0 0 0 rg BT 520.34 261.25 Td (The estimated ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 249.25 Td (net loss for the other postretirement plans that will be amortized from accumulated other comprehensive income into net periodic benefit ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 237.25 Td (cost during ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 78.72 237.25 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 98.72 237.25 Td ( is $3. ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (18. Employee Benefit Plans \(continued\)) Tj ET Q endstream endobj 457 0 obj <> endobj 458 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-92) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Plan ) Tj ET Q q 0 0 0 rg BT 52.90 713.25 Td (Assets) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (Investment Strategy and T) Tj ET Q q 0 0 0 rg BT 135.28 695.25 Td (ar) Tj ET Q q 0 0 0 rg BT 143.80 695.25 Td (get ) Tj ET Q q 0 0 0 rg BT 158.34 695.25 Td (Allocation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.25 Td (The overall investment strategy of the Plan is to maximize total investment returns to provide suf) Tj ET Q q 0 0 0 rg BT 419.84 677.25 Td (ficient funding for present and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.25 Td (anticipated future benefit obligations within the constraints of a prudent level of portfolio risk and diversification. ) Tj ET Q q 0 0 0 rg BT 488.14 665.25 Td (W) Tj ET Q q 0 0 0 rg BT 497.18 665.25 Td (ith respect to asset ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 653.25 Td (management, the oversight responsibility of the Plan rests with ) Tj ET Q q 0 0 0 rg BT 285.72 653.25 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 340.97 653.25 Td (s Pension Fund ) Tj ET Q q 0 0 0 rg BT 404.42 653.25 Td (T) Tj ET Q q 0 0 0 rg BT 410.17 653.25 Td (rust and Investment Committee composed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 641.25 Td (of individuals whose responsibilities include establishing overall objectives and the setting of investment policy; selecting appropriate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 629.25 Td (investment options and ranges; reviewing the asset allocation mix and asset allocation tar) Tj ET Q q 0 0 0 rg BT 388.44 629.25 Td (gets on a regular basis; and monitoring ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 617.25 Td (performance to determine whether or not the rate of return objectives are being met and that policy and guidelines are being followed. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 605.25 Td (The Company believes that the asset allocation decision will be the single most important factor determining the long-term performance ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 593.25 Td (of the Plan.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 575.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 575.25 Td (s pension plan and other postretirement benefit plans) Tj ET Q q 0 0 0 rg BT 305.13 575.25 Td ( tar) Tj ET Q q 0 0 0 rg BT 318.00 575.25 Td (get allocation by asset category is presented in the table below) Tj ET Q q 0 0 0 rg BT 566.71 575.25 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 521.75 244.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 521.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 521.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.00 521.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 521.75 65.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 496.75 244.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 276.00 496.75 65.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.00 496.75 65.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 406.00 496.75 65.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 471.00 496.75 65.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 546.75 m 341 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 546.75 m 406 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 546.75 m 471 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 546.75 m 536 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 521.75 m 341 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 521.75 m 406 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 521.75 m 471 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 521.75 m 536 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 276 521.75 m 341 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341 521.75 m 406 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 406 521.75 m 471 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 471 521.75 m 536 521.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 393.65 550.15 Td (Target Asset Allocation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.85 538.15 Td (Pension Plans) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.75 538.15 Td (Other Postretirement Plans) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 287.50 526.01 Td (\(minimum\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 351.75 526.01 Td (\(maximum\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 417.50 526.01 Td (\(minimum\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 481.75 526.01 Td (\(maximum\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 512.32 Td (Equity securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 512.32 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 512.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.15 512.32 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.15 512.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 512.32 Td (15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 512.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 512.32 Td (35) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 512.32 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 499.37 Td (Fixed income securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 499.37 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 499.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.15 499.37 Td (70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.15 499.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 499.37 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 499.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 499.37 Td (85) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 499.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 487.37 Td (Alternative assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 322.15 487.37 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 332.15 487.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.15 487.37 Td (25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 397.15 487.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.15 487.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.15 487.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 487.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 487.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 468.25 Td (Diver) Tj ET Q q 0 0 0 rg BT 54.09 468.25 Td (gent market performance among dif) Tj ET Q q 0 0 0 rg BT 197.74 468.25 Td (ferent asset classes may) Tj ET Q q 0 0 0 rg BT 292.33 468.25 Td (, from time to time, cause the asset allocation to deviate from the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 456.25 Td (desired asset allocation ranges. ) Tj ET Q q 0 0 0 rg BT 157.66 456.25 Td (The asset allocation mix is reviewed on a periodic basis. If it is determined that an asset allocation mix ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 444.25 Td (rebalancing is required, future portfolio additions and withdrawals will be used, as necessary) Tj ET Q q 0 0 0 rg BT 401.85 444.25 Td (, to bring the allocation within tactical ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 432.25 Td (ranges.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 414.25 Td (The Company) Tj ET Q q 0 0 0 rg BT 91.21 414.25 Td (s pension plan and other postretirement benefit plans) Tj ET Q q 0 0 0 rg BT 305.13 414.25 Td ( weighted average asset allocation at ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.96 414.25 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.54 414.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.98 414.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.98 414.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 402.25 Td (is presented in the table below) Tj ET Q q 0 0 0 rg BT 152.20 402.25 Td (.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 332.75 249.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 332.75 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 332.75 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 332.75 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 332.75 64.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 308.75 249.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 281.00 308.75 64.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 345.00 308.75 64.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 409.00 308.75 64.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.00 308.75 64.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 344.75 m 345 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345 344.75 m 409 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 344.75 m 473 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 344.75 m 537 344.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 332.75 m 345 332.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345 332.75 m 409 332.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 332.75 m 473 332.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 332.75 m 537 332.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473 297.75 m 537 297.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 297.75 m 281 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 284.75 m 281 284.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 281 297.75 m 345 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 284.75 m 345 284.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 345 297.75 m 409 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 345 284.75 m 409 284.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 409 297.75 m 473 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 284.75 m 473 284.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473 297.75 m 537 297.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 284.75 m 537 284.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 290.70 376.20 Td (Per) Tj ET Q q 0 0 0 rg BT 304.02 376.20 Td (centage of Pension Plans ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 332.50 367.20 Td (Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 288.05 358.20 Td (At Fair) Tj ET Q q 0 0 0 rg BT 316.13 358.20 Td ( ) Tj ET Q q 0 0 0 rg BT 318.21 358.20 Td (V) Tj ET Q q 0 0 0 rg BT 323.89 358.20 Td (alue as of December) Tj ET Q q 0 0 0 rg BT 400.95 358.20 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 338.85 349.20 Td (31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.90 376.20 Td (Per) Tj ET Q q 0 0 0 rg BT 447.22 376.20 Td (centage of Other) Tj ET Q q 0 0 0 rg BT 511.04 376.20 Td ( ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 432.30 367.20 Td (Postr) Tj ET Q q 0 0 0 rg BT 452.63 367.20 Td (etir) Tj ET Q q 0 0 0 rg BT 465.95 367.20 Td (ement Plans) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.45 358.20 Td (Assets at Fair) Tj ET Q q 0 0 0 rg BT 476.78 358.20 Td ( ) Tj ET Q q 0 0 0 rg BT 478.86 358.20 Td (V) Tj ET Q q 0 0 0 rg BT 484.54 358.20 Td (alue as of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 446.30 349.20 Td (December) Tj ET Q q 0 0 0 rg BT 485.11 349.20 Td ( 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 303.50 336.15 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 367.50 336.15 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.50 336.15 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 495.50 336.15 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 323.37 Td (Equity securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.50 323.37 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.15 323.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.50 323.37 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.15 323.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.50 323.37 Td (31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.15 323.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.50 323.37 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 323.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 311.37 Td (Fixed income securities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.50 311.37 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.15 311.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.50 311.37 Td (60) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.15 311.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.50 311.37 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.15 311.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.50 311.37 Td (77) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 311.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 299.37 Td (Alternative Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 324.50 299.37 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 336.15 299.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.50 299.37 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.15 299.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 299.37 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.15 299.37 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.50 299.37 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 528.15 299.37 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 288.48 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 319.50 288.48 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 334.50 288.48 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 383.50 288.48 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 398.50 288.48 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 447.50 288.48 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 462.50 288.48 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.50 288.48 Td (100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 526.50 288.48 Td (%) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 267.25 Td (The Plan assets are invested primarily in separate portfolios managed by HIMCO, a wholly-owned subsidiary of the Company) Tj ET Q q 0 0 0 rg BT 536.85 267.25 Td (. ) Tj ET Q q 0 0 0 rg BT 541.67 267.25 Td (These ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 255.25 Td (portfolios encompass multiple asset classes reflecting the current needs of the Plan, the investment preferences and risk tolerance of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 243.25 Td (Plan and the desired degree of diversification. ) Tj ET Q q 0 0 0 rg BT 217.36 243.25 Td (These asset classes include publicly traded equities, bonds and alternative investments and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 231.25 Td (are made up of individual investments in cash and cash equivalents, equity securities, debt securities, asset-backed securities and hedge ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 219.25 Td (funds. Hedge fund investments represent a diversified portfolio of partnership investments in absolute-return investment strategies.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 201.25 Td (In addition, the Company uses U.S. ) Tj ET Q q 0 0 0 rg BT 176.03 201.25 Td (T) Tj ET Q q 0 0 0 rg BT 181.79 201.25 Td (reasury bond futures contracts and U.S. ) Tj ET Q q 0 0 0 rg BT 342.12 201.25 Td (T) Tj ET Q q 0 0 0 rg BT 347.88 201.25 Td (reasury STRIPS in a duration overlay program to adjust ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 189.25 Td (the duration of Plan assets to better match the duration of the benefit obligation.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 171.25 Td (Investment V) Tj ET Q q 0 0 0 rg BT 82.32 171.25 Td (aluation) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 153.25 Td (For further discussion on the valuation of investments, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.51 153.25 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.51 153.25 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (18. Employee Benefit Plans \(continued\)) Tj ET Q endstream endobj 459 0 obj <> endobj 460 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-93) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Pension ) Tj ET Q q 0 0 0 rg BT 66.22 713.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 87.42 713.10 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 695.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 65.92 695.10 Td (values ) Tj ET Q q 0 0 0 rg BT 93.97 695.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.80 695.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.52 695.10 Td (Company) Tj ET Q q 0 0 0 rg BT 161.18 695.10 Td (s ) Tj ET Q q 0 0 0 rg BT 167.57 695.10 Td (pension ) Tj ET Q q 0 0 0 rg BT 201.18 695.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 220.90 695.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 246.73 695.10 Td (by ) Tj ET Q q 0 0 0 rg BT 259.23 695.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 281.17 695.10 Td (category ) Tj ET Q q 0 0 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274.95 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 290.08 701.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 306.88 701.10 Td (value ) Tj ET Q q 0 0 0 rg BT 331.46 701.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 387.69 701.10 Td (on ) Tj ET Q q 0 0 0 rg BT 400.61 701.10 Td (a ) Tj ET Q q 0 0 0 rg BT 407.97 701.10 Td (recurring ) Tj ET Q q 0 0 0 rg BT 447.54 701.10 Td (basis. ) Tj ET Q q 0 0 0 rg BT 472.75 701.10 Td (The ) Tj ET Q q 0 0 0 rg BT 491.22 701.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 511.92 701.10 Td (classifies ) Tj ET Q q 0 0 0 rg BT 551.49 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 566.63 701.10 Td (fair ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 689.10 Td (value ) Tj ET Q q 0 0 0 rg BT 55.58 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 66.33 689.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 103.73 689.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 152.82 689.10 Td (within ) Tj ET Q q 0 0 0 rg BT 180.80 689.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 205.98 689.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 213.40 689.10 Td (if ) Tj ET Q q 0 0 0 rg BT 221.93 689.10 Td (there ) Tj ET Q q 0 0 0 rg BT 244.34 689.10 Td (are ) Tj ET Q q 0 0 0 rg BT 258.97 689.10 Td (no ) Tj ET Q q 0 0 0 rg BT 271.39 689.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 317.13 689.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 351.21 689.10 Td (for ) Tj ET Q q 0 0 0 rg BT 365.29 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 379.93 689.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 429.01 689.10 Td (or) Tj ET Q q 0 0 0 rg BT 436.94 689.10 Td (, ) Tj ET Q q 0 0 0 rg BT 441.87 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.07 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.71 689.10 Td (absence ) Tj ET Q q 0 0 0 rg BT 500.77 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 511.52 689.10 Td (active ) Tj ET Q q 0 0 0 rg BT 537.82 689.10 Td (markets, ) Tj ET Q q 0 0 0 rg BT 574.40 689.10 Td (if ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 677.10 Td (one ) Tj ET Q q 0 0 0 rg BT 48.23 677.10 Td (or ) Tj ET Q q 0 0 0 rg BT 58.85 677.10 Td (more ) Tj ET Q q 0 0 0 rg BT 81.68 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 92.30 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 106.81 677.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 151.31 677.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 178.05 677.10 Td (used ) Tj ET Q q 0 0 0 rg BT 198.67 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 208.73 677.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 251.00 677.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 267.17 677.10 Td (value ) Tj ET Q q 0 0 0 rg BT 291.11 677.10 Td (are ) Tj ET Q q 0 0 0 rg BT 305.61 677.10 Td (based ) Tj ET Q q 0 0 0 rg BT 330.67 677.10 Td (on ) Tj ET Q q 0 0 0 rg BT 342.96 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 357.46 677.10 Td (Plan) Tj ET Q q 0 0 0 rg BT 378.02 677.10 Td (s ) Tj ET Q q 0 0 0 rg BT 384.20 677.10 Td (own ) Tj ET Q q 0 0 0 rg BT 403.71 677.10 Td (assumptions. ) Tj ET Q q 0 0 0 rg BT 457.78 677.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 501.98 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 516.49 677.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 539.89 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 556.61 677.10 Td (losses ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 665.10 Td (in ) Tj ET Q q 0 0 0 rg BT 41.78 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 56.50 665.10 Td (tables ) Tj ET Q q 0 0 0 rg BT 82.32 665.10 Td (below ) Tj ET Q q 0 0 0 rg BT 109.26 665.10 Td (include ) Tj ET Q q 0 0 0 rg BT 141.19 665.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 175.90 665.10 Td (in ) Tj ET Q q 0 0 0 rg BT 186.18 665.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 202.55 665.10 Td (value ) Tj ET Q q 0 0 0 rg BT 226.71 665.10 Td (due ) Tj ET Q q 0 0 0 rg BT 243.65 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 253.93 665.10 Td (both ) Tj ET Q q 0 0 0 rg BT 274.21 665.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 320.02 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 336.96 665.10 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 392.77 665.10 Td (factors.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 603.60 195.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 603.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 603.60 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.00 603.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 603.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 603.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 603.60 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 575.60 195.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 575.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 575.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.00 575.60 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 575.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 575.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 575.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 546.60 195.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 546.60 50.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 546.60 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.00 546.60 54.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 546.60 55.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 546.60 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 546.60 45.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 517.60 195.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 636.6 m 227 636.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 636.6 m 277 636.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 636.6 m 322 636.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 636.6 m 376 636.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 636.6 m 431 636.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 636.6 m 491 636.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 636.6 m 536 636.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 603.6 m 227 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 603.6 m 277 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 603.6 m 322 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 603.6 m 376 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 603.6 m 431 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 603.6 m 491 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 603.6 m 536 603.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 603.6 m 227 603.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 502.6 m 227 502.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 488.6 m 227 488.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 227 502.6 m 277 502.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 227 488.6 m 277 488.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 277 502.6 m 322 502.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 488.6 m 322 488.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 322 502.6 m 376 502.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 488.6 m 376 488.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 376 502.6 m 431 502.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376 488.6 m 431 488.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 431 502.6 m 491 502.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 431 488.6 m 491 488.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 491 502.6 m 536 502.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 488.6 m 536 488.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 103.75 641.00 Td (Pension Plan Asset Fair Value Measurements Using Significant Unobservable Inputs \(Level 3\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 608.05 Td (Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 231.50 608.05 Td (Corporate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 285.95 608.05 Td (RMBS) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 333.55 617.05 Td (Foreign) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 325.50 608.05 Td (government) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 380.95 617.05 Td (Other fixed) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.25 608.05 Td (income) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 436.35 608.05 Td (Hedge funds) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 501.40 608.05 Td (Totals) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 594.28 Td (Fair Value as of January 1, 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 229.50 594.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 268.15 594.28 Td (3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 279.50 594.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.15 594.28 Td (3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 324.50 594.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.15 594.28 Td (2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.50 594.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.15 594.28 Td (9) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.50 594.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.15 594.28 Td (263) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.50 594.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.15 594.28 Td (280) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 580.17 Td (Realized gains/\(losses\), net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.15 580.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.15 580.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.15 580.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 580.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.80 580.22 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 580.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 523.80 580.22 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.15 580.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 565.27 Td (Changes in unrealized gains/\(losses\), net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.15 565.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.15 565.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.15 565.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.80 565.32 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.15 565.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 565.27 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.15 565.27 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 551.17 Td (Purchases) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.15 551.17 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.15 551.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.15 551.17 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 417.15 551.17 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.15 551.17 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.15 551.17 Td (224) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 537.17 Td (Sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 264.80 537.17 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.15 537.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.80 537.22 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.15 537.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.15 537.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.80 537.22 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.15 537.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.80 537.22 Td (\(79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 537.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.80 537.22 Td (\(86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.15 537.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 522.27 Td (Transfers into Level 3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.15 522.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.15 522.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.15 522.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.15 522.27 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 522.27 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.15 522.27 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 507.27 Td (Transfers out of Level 3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.15 507.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 308.15 507.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.15 507.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.80 507.32 Td (\(4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.15 507.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.80 507.32 Td (\(55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.15 507.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.80 507.32 Td (\(59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.15 507.27 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 493.28 Td (Fair Value as of December 31, 2013) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 229.50 493.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 263.15 493.28 Td (12) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 279.50 493.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 313.15 493.28 Td (2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 324.50 493.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.15 493.28 Td (4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.50 493.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 417.15 493.28 Td (12) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.50 493.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.15 493.28 Td (361) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.50 493.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.15 493.28 Td (391) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 472.10 Td (During ) Tj ET Q q 0 0 0 rg BT 63.26 472.10 Td (the ) Tj ET Q q 0 0 0 rg BT 78.90 472.10 Td (year ) Tj ET Q q 0 0 0 rg BT 99.54 472.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 126.84 472.10 Td (December ) Tj ET Q q 0 0 0 rg BT 171.35 472.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 187.28 472.10 Td (2013, ) Tj ET Q q 0 0 0 rg BT 213.21 472.10 Td (transfers ) Tj ET Q q 0 0 0 rg BT 251.07 472.10 Td (in ) Tj ET Q q 0 0 0 rg BT 262.27 472.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 291.25 472.10 Td (\(out\) ) Tj ET Q q 0 0 0 rg BT 314.11 472.10 Td (of ) Tj ET Q q 0 0 0 rg BT 325.87 472.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 352.06 472.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 360.49 472.10 Td (are ) Tj ET Q q 0 0 0 rg BT 376.12 472.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 416.76 472.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 465.73 472.10 Td (to ) Tj ET Q q 0 0 0 rg BT 476.93 472.10 Td (the ) Tj ET Q q 0 0 0 rg BT 492.58 472.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 540.99 472.10 Td (of ) Tj ET Q q 0 0 0 rg BT 552.75 472.10 Td (market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 460.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 77.32 460.10 Td (information ) Tj ET Q q 0 0 0 rg BT 127.03 460.10 Td (and ) Tj ET Q q 0 0 0 rg BT 143.97 460.10 Td (the ) Tj ET Q q 0 0 0 rg BT 158.68 460.10 Td (re-evaluation ) Tj ET Q q 0 0 0 rg BT 213.93 460.10 Td (of ) Tj ET Q q 0 0 0 rg BT 224.76 460.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.48 460.10 Td (observability ) Tj ET Q q 0 0 0 rg BT 294.19 460.10 Td (of ) Tj ET Q q 0 0 0 rg BT 305.02 460.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 335.85 460.10 Td (inputs. ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 407.60 195.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 407.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 407.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.00 407.60 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 407.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 407.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 407.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 377.60 195.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 377.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 377.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.00 377.60 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 377.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 377.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 377.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 347.60 195.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 227.00 347.60 50.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 277.00 347.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.00 347.60 54.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 376.00 347.60 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 431.00 347.60 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 491.00 347.60 45.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 317.60 195.00 -15.00 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0 0 rg BT 229.50 397.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 268.15 397.28 Td (3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 279.50 397.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 308.15 397.28 Td (11) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 324.50 397.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 367.15 397.28 Td (3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 378.50 397.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.15 397.28 Td (4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 433.50 397.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.15 397.28 Td (759) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.50 397.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.15 397.28 Td (780) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 382.27 Td (Realized gains/\(losses\), net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 263.15 382.27 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.80 382.32 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 318.15 382.27 Td (\)) Tj 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(availability ) Tj ET Q q 0 0 0 rg BT 540.99 272.10 Td (of ) Tj ET Q q 0 0 0 rg BT 552.75 272.10 Td (market ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 260.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 77.04 260.10 Td (information ) Tj ET Q q 0 0 0 rg BT 126.49 260.10 Td (and ) Tj ET Q q 0 0 0 rg BT 143.15 260.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.60 260.10 Td (re-evaluation ) Tj ET Q q 0 0 0 rg BT 212.58 260.10 Td (of ) Tj ET Q q 0 0 0 rg BT 223.14 260.10 Td (the ) Tj ET Q q 0 0 0 rg BT 237.58 260.10 Td (observability ) Tj ET Q q 0 0 0 rg BT 292.02 260.10 Td (of ) Tj ET Q q 0 0 0 rg BT 302.58 260.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 333.14 260.10 Td (inputs. ) Tj ET Q q 0 0 0 rg BT 362.31 260.10 Td ( ) Tj ET Q q 0 0 0 rg BT 364.38 260.10 Td (There ) Tj ET Q q 0 0 0 rg BT 389.93 260.10 Td (was ) Tj ET Q q 0 0 0 rg BT 407.71 260.10 Td (no ) Tj ET Q q 0 0 0 rg BT 419.94 260.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 461.05 260.10 Td (common ) Tj ET Q q 0 0 0 rg BT 498.27 260.10 Td (stock 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713.10 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 661.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 661.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 661.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 661.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 661.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 633.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 633.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 633.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 633.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 633.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 605.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 605.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 605.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 605.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 605.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 577.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 577.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 577.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 577.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 577.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 549.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 549.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 549.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 549.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 549.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 521.60 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 521.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 521.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 521.60 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 521.60 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 674.6 m 323 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 674.6 m 379 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 674.6 m 435 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 674.6 m 491 674.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 661.6 m 267 661.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 661.6 m 323 661.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 661.6 m 379 661.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 661.6 m 435 661.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 661.6 m 491 661.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 521.6 m 267 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 507.6 m 267 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267 521.6 m 323 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 507.6 m 323 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323 521.6 m 379 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 507.6 m 379 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379 521.6 m 435 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 507.6 m 435 507.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435 521.6 m 491 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 507.6 m 491 507.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 314.60 688.05 Td (Other) Tj ET Q q 0 0 0 rg BT 337.43 688.05 Td ( Postr) Tj ET Q q 0 0 0 rg BT 360.01 688.05 Td (etir) Tj ET Q q 0 0 0 rg BT 373.33 688.05 Td (ement Plan ) Tj ET Q q 0 0 0 rg BT 418.33 688.05 Td (Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.15 679.05 Td (at Fair) Tj ET Q q 0 0 0 rg BT 332.23 679.05 Td ( ) Tj ET Q q 0 0 0 rg BT 334.31 679.05 Td (V) Tj ET Q q 0 0 0 rg BT 339.99 679.05 Td (alue as of December) Tj ET Q q 0 0 0 rg BT 417.05 679.05 Td ( 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 666.00 Td (Asset Category) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 280.60 666.00 Td (Level 1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 336.60 666.00 Td (Level 2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.60 666.00 Td (Level 3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 452.65 666.00 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 652.17 Td (Short-term investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 652.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 652.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.50 652.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 652.17 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 652.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 652.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 652.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 652.17 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 638.17 Td (Fixed Income Securities:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 624.17 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 624.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 624.17 Td (55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 624.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 624.17 Td (55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 610.17 Td (RMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 610.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 610.17 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 610.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 610.17 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 596.17 Td (U.S. Treasuries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 596.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 596.17 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 596.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 596.17 Td (38) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 582.17 Td (Foreign government) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 582.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 582.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 582.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 582.17 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 568.17 Td (CMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 568.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 568.17 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 568.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 568.17 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 554.17 Td (Other fixed income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 554.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 554.17 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 554.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 554.17 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 540.17 Td (Equity Securities:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 526.17 Td (Large-cap) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 526.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 526.17 Td (66) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 526.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 526.17 Td (66) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 512.28 Td (Total other postretirement plan assets at fair value [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 512.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 512.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 325.50 512.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 360.15 512.28 Td (217) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 512.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 512.17 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 512.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.15 512.28 Td (217) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 492.30 Td ([1] Excludes appr) Tj ET Q q 0 0 0 rg BT 98.91 492.30 Td (oximately ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 136.14 492.30 Td ($5) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 145.14 492.30 Td ( of investment payables net of investment r) Tj ET Q q 0 0 0 rg BT 298.02 492.30 Td (eceivables that ar) Tj ET Q q 0 0 0 rg BT 361.67 492.30 Td (e not carried at fair value and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 481.50 Td (appr) Tj ET Q q 0 0 0 rg BT 48.17 481.50 Td (oximately ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.40 481.50 Td ($1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 94.40 481.50 Td ( of inter) Tj ET Q q 0 0 0 rg BT 122.57 481.50 Td (est r) Tj ET Q q 0 0 0 rg BT 137.98 481.50 Td (eceivable carried at fair value.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 453.50 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 453.50 Td (fair ) Tj ET Q q 0 0 0 rg BT 65.92 453.50 Td (value ) Tj ET Q q 0 0 0 rg BT 90.08 453.50 Td (of ) Tj ET Q q 0 0 0 rg BT 100.91 453.50 Td (the ) Tj ET Q q 0 0 0 rg BT 115.63 453.50 Td (Company) Tj ET Q q 0 0 0 rg BT 157.29 453.50 Td (s ) Tj ET Q q 0 0 0 rg BT 163.68 453.50 Td (other ) Tj ET Q q 0 0 0 rg BT 186.73 453.50 Td (postretirement ) Tj ET Q q 0 0 0 rg BT 246.99 453.50 Td (plan ) Tj ET Q q 0 0 0 rg BT 266.71 453.50 Td (assets ) Tj ET Q q 0 0 0 rg BT 292.54 453.50 Td (by ) Tj ET Q q 0 0 0 rg BT 305.04 453.50 Td (asset ) Tj ET Q q 0 0 0 rg BT 326.97 453.50 Td (category ) Tj ET Q q 0 0 0 rg BT 363.90 453.50 Td (are ) Tj ET Q q 0 0 0 rg BT 378.60 453.50 Td (as ) Tj ET Q q 0 0 0 rg BT 389.43 453.50 Td (follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 405.00 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 405.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 405.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 405.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 405.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 377.00 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 377.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 377.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 377.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 377.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 349.00 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 349.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 349.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 349.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 349.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 321.00 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 321.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 321.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 321.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 321.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 293.00 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 293.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 293.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 293.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 293.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 265.00 235.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 267.00 265.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 323.00 265.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.00 265.00 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 435.00 265.00 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 418 m 323 418 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 418 m 379 418 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 418 m 435 418 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 418 m 491 418 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 405 m 267 405 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 405 m 323 405 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 405 m 379 405 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 405 m 435 405 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 405 m 491 405 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 405 m 267 405 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 405 m 323 405 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 405 m 379 405 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 405 m 435 405 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 405 m 491 405 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 265 m 267 265 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 251 m 267 251 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 267 265 m 323 265 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 267 251 m 323 251 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 323 265 m 379 265 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 323 251 m 379 251 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 379 265 m 435 265 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379 251 m 435 251 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 435 265 m 491 265 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435 251 m 491 251 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 314.60 431.45 Td (Other) Tj ET Q q 0 0 0 rg BT 337.43 431.45 Td ( Postr) Tj ET Q q 0 0 0 rg BT 360.01 431.45 Td (etir) Tj ET Q q 0 0 0 rg BT 373.33 431.45 Td (ement Plan ) Tj ET Q q 0 0 0 rg BT 418.33 431.45 Td (Assets) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 306.15 422.45 Td (at Fair) Tj ET Q q 0 0 0 rg BT 332.23 422.45 Td ( ) Tj ET Q q 0 0 0 rg BT 334.31 422.45 Td (V) Tj ET Q q 0 0 0 rg BT 339.99 422.45 Td (alue as of December) Tj ET Q q 0 0 0 rg BT 417.05 422.45 Td ( 31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 409.40 Td (Asset Category) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 280.60 409.40 Td (Level 1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 336.60 409.40 Td (Level 2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.60 409.40 Td (Level 3) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 452.65 409.40 Td (Total) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 395.57 Td (Short-term investments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 395.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 395.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.50 395.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 395.57 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 395.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 395.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.50 395.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 395.57 Td (14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 381.57 Td (Fixed Income Securities:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 367.57 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 367.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 367.57 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 367.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 367.57 Td (65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 353.57 Td (RMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 353.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 353.57 Td (46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 353.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 353.57 Td (46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 339.57 Td (U.S. Treasuries) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 339.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 339.57 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 339.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 339.57 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 325.57 Td (Foreign government) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 325.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 325.57 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 325.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 325.57 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 311.57 Td (CMBS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 311.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 311.57 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 311.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 311.57 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 297.57 Td (Other fixed income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 297.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 297.57 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 297.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.15 297.57 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 283.57 Td (Equity Securities:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 269.57 Td (Large-cap) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 269.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.15 269.57 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 269.57 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.15 269.57 Td (50) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 255.68 Td (Total other postretirement plan assets at fair value [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 269.50 255.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 309.15 255.57 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 325.50 255.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 360.15 255.68 Td (229) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.50 255.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.15 255.57 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.50 255.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 472.15 255.68 Td (229) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 240.70 Td ([1] Excludes appr) Tj ET Q q 0 0 0 rg BT 98.91 240.70 Td (oximately ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 136.14 240.70 Td ($10) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 149.64 240.70 Td ( of investment payables net of investment r) Tj ET Q q 0 0 0 rg BT 302.52 240.70 Td (eceivables that ar) Tj ET Q q 0 0 0 rg BT 366.17 240.70 Td (e not carried at fair value and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 229.90 Td (appr) Tj ET Q q 0 0 0 rg BT 48.17 229.90 Td (oximately ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 85.40 229.90 Td ($1) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 94.40 229.90 Td ( of inter) Tj ET Q q 0 0 0 rg BT 122.57 229.90 Td (est r) Tj ET Q q 0 0 0 rg BT 137.98 229.90 Td (eceivable carried at fair value.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 203.90 Td (There ) Tj ET Q q 0 0 0 rg BT 57.32 203.90 Td (was ) Tj ET Q q 0 0 0 rg BT 75.37 203.90 Td (no ) Tj ET Q q 0 0 0 rg BT 87.87 203.90 Td (Company ) Tj ET Q q 0 0 0 rg BT 129.25 203.90 Td (common ) Tj ET Q q 0 0 0 rg BT 166.75 203.90 Td (stock ) Tj ET Q q 0 0 0 rg BT 190.36 203.90 Td (included ) Tj ET Q q 0 0 0 rg BT 227.29 203.90 Td (in ) Tj ET Q q 0 0 0 rg BT 237.57 203.90 Td (the ) Tj ET Q q 0 0 0 rg BT 252.29 203.90 Td (other ) Tj ET Q q 0 0 0 rg BT 275.33 203.90 Td (postretirement ) Tj ET Q q 0 0 0 rg BT 335.59 203.90 Td (benefit ) Tj ET Q q 0 0 0 rg BT 365.86 203.90 Td (plan ) Tj ET Q q 0 0 0 rg BT 385.57 203.90 Td (assets ) Tj ET Q q 0 0 0 rg BT 411.40 203.90 Td (as ) Tj ET Q q 0 0 0 rg BT 422.23 203.90 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 433.06 203.90 Td (December31, ) Tj ET Q q 0 0 0 rg BT 491.65 203.90 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.65 203.90 Td ( ) Tj ET Q q 0 0 0 rg BT 514.15 203.90 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.08 203.90 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 551.08 203.90 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 185.90 Td (Concentration ) Tj ET Q q 0 0 0 rg BT 91.77 185.90 Td (of ) Tj ET Q q 0 0 0 rg BT 102.05 185.90 Td (Risk) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 167.90 Td (In ) Tj ET Q q 0 0 0 rg BT 41.23 167.90 Td (order ) Tj ET Q q 0 0 0 rg BT 63.73 167.90 Td (to ) Tj ET Q q 0 0 0 rg BT 72.91 167.90 Td (minimize ) Tj ET Q q 0 0 0 rg BT 112.08 167.90 Td (risk, ) Tj ET Q q 0 0 0 rg BT 130.98 167.90 Td (the ) Tj ET Q q 0 0 0 rg BT 144.59 167.90 Td (Plan ) Tj ET Q q 0 0 0 rg BT 163.77 167.90 Td (maintains ) Tj ET Q q 0 0 0 rg BT 204.06 167.90 Td (a ) Tj ET Q q 0 0 0 rg BT 209.89 167.90 Td (listing ) Tj ET Q q 0 0 0 rg BT 236.30 167.90 Td (of ) Tj ET Q q 0 0 0 rg BT 246.03 167.90 Td (permissible ) Tj ET Q q 0 0 0 rg BT 293.53 167.90 Td (and ) Tj ET Q q 0 0 0 rg BT 309.37 167.90 Td (prohibited ) Tj ET Q q 0 0 0 rg BT 351.88 167.90 Td (investments. ) Tj ET Q q 0 0 0 rg BT 403.55 167.90 Td (In ) Tj ET Q q 0 0 0 rg BT 413.28 167.90 Td (addition, ) Tj ET Q q 0 0 0 rg BT 449.96 167.90 Td (the ) Tj ET Q q 0 0 0 rg BT 463.57 167.90 Td (Plan ) Tj ET Q q 0 0 0 rg BT 482.75 167.90 Td (has ) Tj ET Q q 0 0 0 rg BT 497.48 167.90 Td (certain ) Tj ET Q q 0 0 0 rg BT 526.08 167.90 Td (concentration ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 155.90 Td (limits ) Tj ET Q q 0 0 0 rg BT 58.11 155.90 Td (and ) Tj ET Q q 0 0 0 rg BT 76.38 155.90 Td (investment ) Tj ET Q q 0 0 0 rg BT 124.09 155.90 Td (quality ) Tj ET Q q 0 0 0 rg BT 155.69 155.90 Td (requirements ) Tj ET Q q 0 0 0 rg BT 211.72 155.90 Td (imposed ) Tj ET Q q 0 0 0 rg BT 249.44 155.90 Td (on ) Tj ET Q q 0 0 0 rg BT 263.27 155.90 Td (permissible ) Tj ET Q q 0 0 0 rg BT 313.20 155.90 Td (investment ) Tj ET Q q 0 0 0 rg BT 360.91 155.90 Td (options. ) Tj ET Q q 0 0 0 rg BT 396.69 155.90 Td (Permissible ) Tj ET Q q 0 0 0 rg BT 447.18 155.90 Td (investments ) Tj ET Q q 0 0 0 rg BT 498.78 155.90 Td (include ) Tj ET Q q 0 0 0 rg BT 532.04 155.90 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 553.66 155.90 Td (equity) Tj ET Q q 0 0 0 rg BT 578.00 155.90 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 143.90 Td (international ) Tj ET Q q 0 0 0 rg BT 84.09 143.90 Td (equity) Tj ET Q q 0 0 0 rg BT 108.43 143.90 Td (, ) Tj ET Q q 0 0 0 rg BT 112.98 143.90 Td (alternative ) Tj ET Q q 0 0 0 rg BT 157.23 143.90 Td (asset ) Tj ET Q q 0 0 0 rg BT 178.72 143.90 Td (and ) Tj ET Q q 0 0 0 rg BT 195.21 143.90 Td (fixed ) Tj ET Q q 0 0 0 rg BT 217.80 143.90 Td (income ) Tj ET Q q 0 0 0 rg BT 249.29 143.90 Td (investments ) Tj ET Q q 0 0 0 rg BT 299.11 143.90 Td (including ) Tj ET Q q 0 0 0 rg BT 338.93 143.90 Td (derivative ) Tj ET Q q 0 0 0 rg BT 380.96 143.90 Td (instruments. ) Tj ET Q q 0 0 0 rg BT 432.18 143.90 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 476.43 143.90 Td (instruments ) Tj ET Q q 0 0 0 rg BT 525.14 143.90 Td (include ) Tj ET Q q 0 0 0 rg BT 556.63 143.90 Td (future ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 131.90 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 73.34 131.90 Td (options, ) Tj ET Q q 0 0 0 rg BT 108.54 131.90 Td (swaps, ) Tj ET Q q 0 0 0 rg BT 138.73 131.90 Td (currency ) Tj ET Q q 0 0 0 rg BT 176.96 131.90 Td (forwards, ) Tj ET Q q 0 0 0 rg BT 218.25 131.90 Td (caps ) Tj ET Q q 0 0 0 rg BT 239.26 131.90 Td (or ) Tj ET Q q 0 0 0 rg BT 250.84 131.90 Td (floors ) Tj ET Q q 0 0 0 rg BT 277.42 131.90 Td (and ) Tj ET Q q 0 0 0 rg BT 295.11 131.90 Td (will ) Tj ET Q q 0 0 0 rg BT 313.91 131.90 Td (be ) Tj ET Q q 0 0 0 rg BT 326.60 131.90 Td (used ) Tj ET Q q 0 0 0 rg BT 348.18 131.90 Td (to ) Tj ET Q q 0 0 0 rg BT 359.20 131.90 Td (control ) Tj ET Q q 0 0 0 rg BT 390.78 131.90 Td (risk ) Tj ET Q q 0 0 0 rg BT 409.03 131.90 Td (or ) Tj ET Q q 0 0 0 rg BT 420.61 131.90 Td (enhance ) Tj ET Q q 0 0 0 rg BT 456.61 131.90 Td (return ) Tj ET Q q 0 0 0 rg BT 483.73 131.90 Td (but ) Tj ET Q q 0 0 0 rg BT 499.76 131.90 Td (will ) Tj ET Q q 0 0 0 rg BT 518.57 131.90 Td (not ) Tj ET Q q 0 0 0 rg BT 534.59 131.90 Td (be ) Tj ET Q q 0 0 0 rg BT 547.28 131.90 Td (used ) Tj ET Q q 0 0 0 rg BT 568.86 131.90 Td (for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 119.90 Td (leverage ) Tj ET Q q 0 0 0 rg BT 67.86 119.90 Td (purposes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.90 Td (Securities ) Tj ET Q q 0 0 0 rg BT 73.12 101.90 Td (specifically ) Tj ET Q q 0 0 0 rg BT 121.40 101.90 Td (prohibited ) Tj ET Q q 0 0 0 rg BT 164.69 101.90 Td (from ) Tj ET Q q 0 0 0 rg BT 186.31 101.90 Td (purchase ) Tj ET Q q 0 0 0 rg BT 224.03 101.90 Td (include, ) Tj ET Q q 0 0 0 rg BT 258.15 101.90 Td (but ) Tj ET Q q 0 0 0 rg BT 273.12 101.90 Td (are ) Tj ET Q q 0 0 0 rg BT 287.51 101.90 Td (not ) Tj ET Q q 0 0 0 rg BT 302.48 101.90 Td (limited ) Tj ET Q q 0 0 0 rg BT 332.99 101.90 Td (to: ) Tj ET Q q 0 0 0 rg BT 345.74 101.90 Td (shares ) Tj ET Q q 0 0 0 rg BT 372.91 101.90 Td (or ) Tj ET Q q 0 0 0 rg BT 383.43 101.90 Td (fixed ) Tj ET Q q 0 0 0 rg BT 406.16 101.90 Td (income ) Tj ET Q q 0 0 0 rg BT 437.78 101.90 Td (instruments ) Tj ET Q q 0 0 0 rg BT 486.64 101.90 Td (issued ) Tj ET Q q 0 0 0 rg BT 513.82 101.90 Td (by ) Tj ET Q q 0 0 0 rg BT 525.85 101.90 Td (The ) Tj ET Q q 0 0 0 rg BT 543.58 101.90 Td (Hartford, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 89.90 Td (short ) Tj ET Q q 0 0 0 rg BT 54.43 89.90 Td (sales ) Tj ET Q q 0 0 0 rg BT 76.79 89.90 Td (of ) Tj ET Q q 0 0 0 rg BT 88.05 89.90 Td (any ) Tj ET Q q 0 0 0 rg BT 105.41 89.90 Td (type ) Tj ET Q q 0 0 0 rg BT 125.56 89.90 Td (within ) Tj ET Q q 0 0 0 rg BT 154.04 89.90 Td (long-only ) Tj ET Q q 0 0 0 rg BT 195.85 89.90 Td (portfolios, ) Tj ET Q q 0 0 0 rg BT 240.16 89.90 Td (non-derivative ) Tj ET Q q 0 0 0 rg BT 301.40 89.90 Td (securities ) Tj ET Q q 0 0 0 rg BT 342.09 89.90 Td (involving ) Tj ET Q q 0 0 0 rg BT 383.35 89.90 Td (the ) Tj ET Q q 0 0 0 rg BT 398.50 89.90 Td (use ) Tj ET Q q 0 0 0 rg BT 414.75 89.90 Td (of ) Tj ET Q q 0 0 0 rg BT 426.01 89.90 Td (mar) Tj ET Q q 0 0 0 rg BT 441.37 89.90 Td (gin, ) Tj ET Q q 0 0 0 rg BT 459.58 89.90 Td (leveraged ) Tj ET Q q 0 0 0 rg BT 501.37 89.90 Td (floaters ) Tj ET Q q 0 0 0 rg BT 534.28 89.90 Td (and ) Tj ET Q q 0 0 0 rg BT 551.64 89.90 Td (inverse ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 77.90 Td (floaters, ) Tj ET Q q 0 0 0 rg BT 66.49 77.90 Td (including ) Tj ET Q q 0 0 0 rg BT 106.76 77.90 Td (money ) Tj ET Q q 0 0 0 rg BT 136.48 77.90 Td (market ) Tj ET Q q 0 0 0 rg BT 166.74 77.90 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 216.18 77.90 Td (natural ) Tj ET Q q 0 0 0 rg BT 246.45 77.90 Td (resource ) Tj ET Q q 0 0 0 rg BT 282.81 77.90 Td (real ) Tj ET Q q 0 0 0 rg BT 300.30 77.90 Td (properties ) Tj ET Q q 0 0 0 rg BT 342.78 77.90 Td (such ) Tj ET Q q 0 0 0 rg BT 363.61 77.90 Td (as ) Tj ET Q q 0 0 0 rg BT 374.44 77.90 Td (oil, ) Tj ET Q q 0 0 0 rg BT 390.00 77.90 Td (gas ) Tj ET Q q 0 0 0 rg BT 405.83 77.90 Td (or ) Tj ET Q q 0 0 0 rg BT 416.66 77.90 Td (timber ) Tj ET Q q 0 0 0 rg BT 445.26 77.90 Td (and ) Tj ET Q q 0 0 0 rg BT 462.20 77.90 Td (precious ) Tj ET Q q 0 0 0 rg BT 498.58 77.90 Td (metals.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 59.90 Td (Other ) Tj ET Q q 0 0 0 rg BT 56.31 59.90 Td (than ) Tj ET Q q 0 0 0 rg BT 75.58 59.90 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 95.41 59.90 Td (government ) Tj ET Q q 0 0 0 rg BT 145.22 59.90 Td (and ) Tj ET Q q 0 0 0 rg BT 161.70 59.90 Td (certain ) Tj ET Q q 0 0 0 rg BT 190.95 59.90 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 210.78 59.90 Td (government ) Tj ET Q q 0 0 0 rg BT 260.59 59.90 Td (agencies ) Tj ET Q q 0 0 0 rg BT 297.06 59.90 Td (backed ) Tj ET Q q 0 0 0 rg BT 327.42 59.90 Td (by ) Tj ET Q q 0 0 0 rg BT 339.46 59.90 Td (the ) Tj ET Q q 0 0 0 rg BT 353.73 59.90 Td (full ) Tj ET Q q 0 0 0 rg BT 369.66 59.90 Td (faith ) Tj ET Q q 0 0 0 rg BT 390.03 59.90 Td (and ) Tj ET Q q 0 0 0 rg BT 406.51 59.90 Td (credit ) Tj ET Q q 0 0 0 rg BT 431.32 59.90 Td (of ) Tj ET Q q 0 0 0 rg BT 441.70 59.90 Td (the ) Tj ET Q q 0 0 0 rg BT 455.96 59.90 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 475.79 59.90 Td (government, ) Tj ET Q q 0 0 0 rg BT 528.10 59.90 Td (the ) Tj ET Q q 0 0 0 rg BT 542.36 59.90 Td (Plan ) Tj ET Q q 0 0 0 rg BT 562.19 59.90 Td (does ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 47.90 Td (not ) Tj ET Q q 0 0 0 rg BT 46.78 47.90 Td (have ) Tj ET Q q 0 0 0 rg BT 68.16 47.90 Td (any ) Tj ET Q q 0 0 0 rg BT 85.09 47.90 Td (material ) Tj ET Q q 0 0 0 rg BT 120.35 47.90 Td (exposure ) Tj ET Q q 0 0 0 rg BT 158.95 47.90 Td (to ) Tj ET Q q 0 0 0 rg BT 169.23 47.90 Td (any ) Tj ET Q q 0 0 0 rg BT 186.17 47.90 Td (concentration ) Tj ET Q q 0 0 0 rg BT 243.09 47.90 Td (risk ) Tj ET Q q 0 0 0 rg BT 260.59 47.90 Td (of ) Tj ET Q q 0 0 0 rg BT 271.42 47.90 Td (a ) Tj ET Q q 0 0 0 rg BT 278.36 47.90 Td (single ) Tj ET Q q 0 0 0 rg BT 304.74 47.90 Td (issuer) Tj ET Q q 0 0 0 rg BT 327.52 47.90 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (18. Employee Benefit Plans \(continued\)) Tj ET Q endstream endobj 465 0 obj <> endobj 466 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-96) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 55.67 713.25 Td (Flows) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 695.25 Td (following ) Tj ET Q q 0 0 0 rg BT 90.93 695.25 Td (table ) Tj ET Q q 0 0 0 rg BT 112.87 695.25 Td (illustrates ) Tj ET Q q 0 0 0 rg BT 154.25 695.25 Td (the ) Tj ET Q q 0 0 0 rg BT 168.97 695.25 Td (Company) Tj ET Q q 0 0 0 rg BT 210.63 695.25 Td (s ) Tj ET Q q 0 0 0 rg BT 217.02 695.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 238.96 695.25 Td (contributions.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 664.75 224.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 664.75 133.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 664.75 133.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 664.75 m 256 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 664.75 m 389 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 664.75 m 522 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 664.75 m 256 664.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 669.20 Td (Employer Contributions) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 290.35 669.20 Td (Pension Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 397.25 669.20 Td (Other Postretirement Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 655.32 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.50 655.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 655.32 Td (101) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.50 655.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 655.32 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 641.32 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.50 641.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 641.32 Td (201) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.50 641.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 641.32 Td () Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 619.25 Td (In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 42.21 619.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.21 619.25 Td (, ) Tj ET Q q 0 0 0 rg BT 67.09 619.25 Td (the ) Tj ET Q q 0 0 0 rg BT 81.68 619.25 Td (Company) Tj ET Q q 0 0 0 rg BT 119.92 619.25 Td (, ) Tj ET Q q 0 0 0 rg BT 124.80 619.25 Td (at ) Tj ET Q q 0 0 0 rg BT 134.39 619.25 Td (its ) Tj ET Q q 0 0 0 rg BT 146.22 619.25 Td (discretion, ) Tj ET Q q 0 0 0 rg BT 190.53 619.25 Td (made ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.56 619.25 Td ($100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 234.56 619.25 Td ( ) Tj ET Q q 0 0 0 rg BT 236.94 619.25 Td (in ) Tj ET Q q 0 0 0 rg BT 247.10 619.25 Td (contributions ) Tj ET Q q 0 0 0 rg BT 302.25 619.25 Td (to ) Tj ET Q q 0 0 0 rg BT 312.40 619.25 Td (the ) Tj ET Q q 0 0 0 rg BT 327.00 619.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 347.16 619.25 Td (qualified ) Tj ET Q q 0 0 0 rg BT 385.08 619.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 417.44 619.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 447.58 619.25 Td (pension ) Tj ET Q q 0 0 0 rg BT 481.07 619.25 Td (plan. ) Tj ET Q q 0 0 0 rg BT 502.99 619.25 Td (The ) Tj ET Q q 0 0 0 rg BT 520.92 619.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 562.18 619.25 Td (does ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 607.25 Td (not ) Tj ET Q q 0 0 0 rg BT 45.75 607.25 Td (have ) Tj ET Q q 0 0 0 rg BT 66.11 607.25 Td (a ) Tj ET Q q 0 0 0 rg BT 72.02 607.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 93.50 607.25 Td (required ) Tj ET Q q 0 0 0 rg BT 128.29 607.25 Td (minimum ) Tj ET Q q 0 0 0 rg BT 168.66 607.25 Td (funding ) Tj ET Q q 0 0 0 rg BT 201.24 607.25 Td (contribution ) Tj ET Q q 0 0 0 rg BT 251.60 607.25 Td (for ) Tj ET Q q 0 0 0 rg BT 264.74 607.25 Td (the ) Tj ET Q q 0 0 0 rg BT 278.43 607.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 297.69 607.25 Td (qualified ) Tj ET Q q 0 0 0 rg BT 334.71 607.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 366.17 607.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 395.41 607.25 Td (pension ) Tj ET Q q 0 0 0 rg BT 427.99 607.25 Td (plan. ) Tj ET Q q 0 0 0 rg BT 449.08 607.25 Td (The ) Tj ET Q q 0 0 0 rg BT 466.10 607.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 506.46 607.25 Td (has ) Tj ET Q q 0 0 0 rg BT 521.27 607.25 Td (not ) Tj ET Q q 0 0 0 rg BT 535.52 607.25 Td (determined ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 595.25 Td (whether) Tj ET Q q 0 0 0 rg BT 63.31 595.25 Td (, ) Tj ET Q q 0 0 0 rg BT 68.79 595.25 Td (and ) Tj ET Q q 0 0 0 rg BT 86.21 595.25 Td (to ) Tj ET Q q 0 0 0 rg BT 96.97 595.25 Td (what ) Tj ET Q q 0 0 0 rg BT 119.39 595.25 Td (extent, ) Tj ET Q q 0 0 0 rg BT 149.30 595.25 Td (contributions ) Tj ET Q q 0 0 0 rg BT 205.05 595.25 Td (may ) Tj ET Q q 0 0 0 rg BT 225.25 595.25 Td (be ) Tj ET Q q 0 0 0 rg BT 237.67 595.25 Td (made ) Tj ET Q q 0 0 0 rg BT 262.31 595.25 Td (to ) Tj ET Q q 0 0 0 rg BT 273.07 595.25 Td (the ) Tj ET Q q 0 0 0 rg BT 288.27 595.25 Td (U. ) Tj ET Q q 0 0 0 rg BT 300.97 595.25 Td (S. ) Tj ET Q q 0 0 0 rg BT 312.01 595.25 Td (qualified ) Tj ET Q q 0 0 0 rg BT 350.53 595.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 383.50 595.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 414.24 595.25 Td (pension ) Tj ET Q q 0 0 0 rg BT 448.33 595.25 Td (plan ) Tj ET Q q 0 0 0 rg BT 468.53 595.25 Td (in ) Tj ET Q q 0 0 0 rg BT 479.29 595.25 Td (2014. ) Tj ET Q q 0 0 0 rg BT 504.56 595.25 Td (The ) Tj ET Q q 0 0 0 rg BT 523.08 595.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 564.95 595.25 Td (will ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 583.25 Td (monitor ) Tj ET Q q 0 0 0 rg BT 65.67 583.25 Td (the ) Tj ET Q q 0 0 0 rg BT 80.38 583.25 Td (funded ) Tj ET Q q 0 0 0 rg BT 110.65 583.25 Td (status ) Tj ET Q q 0 0 0 rg BT 135.93 583.25 Td (of ) Tj ET Q q 0 0 0 rg BT 146.76 583.25 Td (the ) Tj ET Q q 0 0 0 rg BT 161.48 583.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 181.76 583.25 Td (qualified ) Tj ET Q q 0 0 0 rg BT 219.80 583.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 252.29 583.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 282.55 583.25 Td (pension ) Tj ET Q q 0 0 0 rg BT 316.16 583.25 Td (plan ) Tj ET Q q 0 0 0 rg BT 335.88 583.25 Td (during ) Tj ET Q q 0 0 0 rg BT 364.48 583.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 386.98 583.25 Td (to ) Tj ET Q q 0 0 0 rg BT 397.26 583.25 Td (make ) Tj ET Q q 0 0 0 rg BT 421.42 583.25 Td (this ) Tj ET Q q 0 0 0 rg BT 438.37 583.25 Td (determination. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 565.25 Td (Employer ) Tj ET Q q 0 0 0 rg BT 73.43 565.25 Td (contributions ) Tj ET Q q 0 0 0 rg BT 128.71 565.25 Td (in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 138.99 565.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 158.99 565.25 Td ( ) Tj ET Q q 0 0 0 rg BT 161.49 565.25 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 178.42 565.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.42 565.25 Td ( ) Tj ET Q q 0 0 0 rg BT 200.92 565.25 Td (were ) Tj ET Q q 0 0 0 rg BT 222.85 565.25 Td (made ) Tj ET Q q 0 0 0 rg BT 247.01 565.25 Td (in ) Tj ET Q q 0 0 0 rg BT 257.29 565.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 277.55 565.25 Td (and ) Tj ET Q q 0 0 0 rg BT 294.49 565.25 Td (did ) Tj ET Q q 0 0 0 rg BT 309.77 565.25 Td (not ) Tj ET Q q 0 0 0 rg BT 325.05 565.25 Td (include ) Tj ET Q q 0 0 0 rg BT 356.98 565.25 Td (contributions ) Tj ET Q q 0 0 0 rg BT 412.26 565.25 Td (of ) Tj ET Q q 0 0 0 rg BT 423.09 565.25 Td (the ) Tj ET Q q 0 0 0 rg BT 437.80 565.25 Td (Company) Tj ET Q q 0 0 0 rg BT 479.47 565.25 Td (s ) Tj ET Q q 0 0 0 rg BT 485.86 565.25 Td (common ) Tj ET Q q 0 0 0 rg BT 523.36 565.25 Td (stock.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 547.25 Td (Benefit ) Tj ET Q q 0 0 0 rg BT 64.55 547.25 Td (Payments) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 529.25 Td (The ) Tj ET Q q 0 0 0 rg BT 50.37 529.25 Td (following ) Tj ET Q q 0 0 0 rg BT 92.57 529.25 Td (table ) Tj ET Q q 0 0 0 rg BT 115.33 529.25 Td (sets ) Tj ET Q q 0 0 0 rg BT 133.65 529.25 Td (forth ) Tj ET Q q 0 0 0 rg BT 156.41 529.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 193.61 529.25 Td (of ) Tj ET Q q 0 0 0 rg BT 205.26 529.25 Td (benefits ) Tj ET Q q 0 0 0 rg BT 240.24 529.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 279.09 529.25 Td (to ) Tj ET Q q 0 0 0 rg BT 290.19 529.25 Td (be ) Tj ET Q q 0 0 0 rg BT 302.95 529.25 Td (paid ) Tj ET Q q 0 0 0 rg BT 323.49 529.25 Td (over ) Tj ET Q q 0 0 0 rg BT 344.58 529.25 Td (the ) Tj ET Q q 0 0 0 rg BT 360.11 529.25 Td (next ) Tj ET Q q 0 0 0 rg BT 380.65 529.25 Td (ten ) Tj ET Q q 0 0 0 rg BT 396.19 529.25 Td (years ) Tj ET Q q 0 0 0 rg BT 420.61 529.25 Td (from ) Tj ET Q q 0 0 0 rg BT 443.37 529.25 Td (the ) Tj ET Q q 0 0 0 rg BT 458.90 529.25 Td (Company) Tj ET Q q 0 0 0 rg BT 500.57 529.25 Td (s ) Tj ET Q q 0 0 0 rg BT 507.78 529.25 Td (pension ) Tj ET Q q 0 0 0 rg BT 542.21 529.25 Td (and ) Tj ET Q q 0 0 0 rg BT 559.97 529.25 Td (other ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 517.25 Td (postretirement ) Tj ET Q q 0 0 0 rg BT 91.76 517.25 Td (plans ) Tj ET Q q 0 0 0 rg BT 115.37 517.25 Td (as ) Tj ET Q q 0 0 0 rg BT 126.20 517.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 137.03 517.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 195.61 517.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 215.61 517.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 486.75 224.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 486.75 133.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 486.75 133.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 458.75 224.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 458.75 133.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 458.75 133.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 430.75 224.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 430.75 133.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 430.75 133.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 402.75 224.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 256.00 402.75 133.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.00 402.75 133.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 486.75 m 389 486.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 486.75 m 522 486.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 402.75 m 256 402.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 389.75 m 256 389.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 256 402.75 m 389 402.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 389.75 m 389 389.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 389 402.75 m 522 402.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389 389.75 m 522 389.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 290.35 491.20 Td (Pension Benefits) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 397.25 491.20 Td (Other Postretirement Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 477.32 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 258.50 477.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 477.32 Td (324) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.50 477.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 477.32 Td (43) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 463.32 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 463.32 Td (310) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 463.32 Td (40) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 449.32 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 449.32 Td (317) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 449.32 Td (37) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 435.32 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 435.32 Td (324) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 435.32 Td (34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 421.32 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.15 421.32 Td (331) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 421.32 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 407.32 Td (2019 - 2023) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.65 407.32 Td (1,740) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 503.15 407.32 Td (121) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 393.48 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 258.50 393.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 362.65 393.48 Td (3,346) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.50 393.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.15 393.48 Td (307) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 372.25 Td (In ) Tj ET Q q 0 0 0 rg BT 43.15 372.25 Td (addition, ) Tj ET Q q 0 0 0 rg BT 81.74 372.25 Td (the ) Tj ET Q q 0 0 0 rg BT 97.28 372.25 Td (following ) Tj ET Q q 0 0 0 rg BT 139.48 372.25 Td (table ) Tj ET Q q 0 0 0 rg BT 162.24 372.25 Td (sets ) Tj ET Q q 0 0 0 rg BT 180.56 372.25 Td (forth ) Tj ET Q q 0 0 0 rg BT 203.31 372.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 240.52 372.25 Td (of ) Tj ET Q q 0 0 0 rg BT 252.17 372.25 Td (other ) Tj ET Q q 0 0 0 rg BT 276.04 372.25 Td (postretirement ) Tj ET Q q 0 0 0 rg BT 337.11 372.25 Td (benefits ) Tj ET Q q 0 0 0 rg BT 372.09 372.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 410.94 372.25 Td (to ) Tj ET Q q 0 0 0 rg BT 422.04 372.25 Td (be ) Tj ET Q q 0 0 0 rg BT 434.80 372.25 Td (received ) Tj ET Q q 0 0 0 rg BT 471.98 372.25 Td (under ) Tj ET Q q 0 0 0 rg BT 498.07 372.25 Td (the ) Tj ET Q q 0 0 0 rg BT 513.60 372.25 Td (Medicare ) Tj ET Q q 0 0 0 rg BT 554.67 372.25 Td (PartD ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 360.25 Td (Subsidy ) Tj ET Q q 0 0 0 rg BT 66.23 360.25 Td (over ) Tj ET Q q 0 0 0 rg BT 86.50 360.25 Td (the ) Tj ET Q q 0 0 0 rg BT 101.22 360.25 Td (next ) Tj ET Q q 0 0 0 rg BT 120.93 360.25 Td (ten ) Tj ET Q q 0 0 0 rg BT 135.65 360.25 Td (years ) Tj ET Q q 0 0 0 rg BT 159.25 360.25 Td (as ) Tj ET Q q 0 0 0 rg BT 170.08 360.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.91 360.25 Td (December31, ) Tj ET Q q 0 0 0 rg BT 239.49 360.25 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 259.49 360.25 Td (:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 343.75 434.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 343.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 315.75 434.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 315.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 287.75 434.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 287.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 259.75 434.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 466.00 259.75 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 259.75 m 466 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 246.75 m 466 246.75 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 466 259.75 m 522 259.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 466 246.75 m 522 246.75 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 334.32 Td (2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.50 334.32 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.15 334.32 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 320.32 Td (2015) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.15 320.32 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 306.32 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.15 306.32 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 292.32 Td (2017) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.15 292.32 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 278.32 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.15 278.32 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 264.32 Td (2019 - 2023) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 508.15 264.32 Td (22) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 250.48 Td (Total) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 468.50 250.48 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 508.15 250.48 Td (40) Tj ET Q BT /F2 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 229.25 Td (Investment ) Tj ET Q q 0 0 0 rg BT 81.77 229.25 Td (and ) Tj ET Q q 0 0 0 rg BT 100.40 229.25 Td (Savings ) Tj ET Q q 0 0 0 rg BT 135.69 229.25 Td (Plan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 211.25 Td (Substantially ) Tj ET Q q 0 0 0 rg BT 86.96 211.25 Td (all ) Tj ET Q q 0 0 0 rg BT 100.20 211.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 121.22 211.25 Td (employees ) Tj ET Q q 0 0 0 rg BT 167.23 211.25 Td (of ) Tj ET Q q 0 0 0 rg BT 178.80 211.25 Td (the ) Tj ET Q q 0 0 0 rg BT 194.26 211.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 236.39 211.25 Td (are ) Tj ET Q q 0 0 0 rg BT 251.83 211.25 Td (eligible ) Tj ET Q q 0 0 0 rg BT 285.07 211.25 Td (to ) Tj ET Q q 0 0 0 rg BT 296.08 211.25 Td (participate ) Tj ET Q q 0 0 0 rg BT 341.52 211.25 Td (in ) Tj ET Q q 0 0 0 rg BT 352.31 211.25 Td (The ) Tj ET Q q 0 0 0 rg BT 371.10 211.25 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 408.77 211.25 Td (Investment ) Tj ET Q q 0 0 0 rg BT 456.44 211.25 Td (and ) Tj ET Q q 0 0 0 rg BT 474.12 211.25 Td (Savings ) Tj ET Q q 0 0 0 rg BT 509.03 211.25 Td (Plan ) Tj ET Q q 0 0 0 rg BT 530.05 211.25 Td (under ) Tj ET Q q 0 0 0 rg BT 556.06 211.25 Td (which ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 199.25 Td (designated ) Tj ET Q q 0 0 0 rg BT 77.35 199.25 Td (contributions ) Tj ET Q q 0 0 0 rg BT 133.21 199.25 Td (may ) Tj ET Q q 0 0 0 rg BT 153.52 199.25 Td (be ) Tj ET Q q 0 0 0 rg BT 166.05 199.25 Td (invested ) Tj ET Q q 0 0 0 rg BT 202.46 199.25 Td (in ) Tj ET Q q 0 0 0 rg BT 213.33 199.25 Td (common ) Tj ET Q q 0 0 0 rg BT 251.41 199.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 275.61 199.25 Td (of ) Tj ET Q q 0 0 0 rg BT 286.80 199.25 Td (The ) Tj ET Q q 0 0 0 rg BT 305.44 199.25 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 342.95 199.25 Td (or ) Tj ET Q q 0 0 0 rg BT 354.37 199.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 384.66 199.25 Td (other ) Tj ET Q q 0 0 0 rg BT 408.30 199.25 Td (investments. ) Tj ET Q q 0 0 0 rg BT 461.44 199.25 Td (The ) Tj ET Q q 0 0 0 rg BT 480.07 199.25 Td (Company's ) Tj ET Q q 0 0 0 rg BT 527.74 199.25 Td (contributions ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 187.25 Td (include ) Tj ET Q q 0 0 0 rg BT 62.99 187.25 Td (a ) Tj ET Q q 0 0 0 rg BT 69.48 187.25 Td (non-elective ) Tj ET Q q 0 0 0 rg BT 120.95 187.25 Td (contribution ) Tj ET Q q 0 0 0 rg BT 171.89 187.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.27 187.25 Td (2.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.10 187.25 Td ( ) Tj ET Q q 0 0 0 rg BT 205.15 187.25 Td (of ) Tj ET Q q 0 0 0 rg BT 215.54 187.25 Td (eligible ) Tj ET Q q 0 0 0 rg BT 247.58 187.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 305.17 187.25 Td (and ) Tj ET Q q 0 0 0 rg BT 321.67 187.25 Td (a ) Tj ET Q q 0 0 0 rg BT 328.16 187.25 Td (dollar) Tj ET Q q 0 0 0 rg BT 351.28 187.25 Td (-for) Tj ET Q q 0 0 0 rg BT 366.07 187.25 Td (-dollar ) Tj ET Q q 0 0 0 rg BT 394.78 187.25 Td (matching ) Tj ET Q q 0 0 0 rg BT 434.05 187.25 Td (contribution ) Tj ET Q q 0 0 0 rg BT 484.98 187.25 Td (of ) Tj ET Q q 0 0 0 rg BT 495.36 187.25 Td (up ) Tj ET Q q 0 0 0 rg BT 507.42 187.25 Td (to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.25 187.25 Td (6.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 538.08 187.25 Td ( ) Tj ET Q q 0 0 0 rg BT 540.13 187.25 Td (of ) Tj ET Q q 0 0 0 rg BT 550.52 187.25 Td (eligible ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 175.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 88.77 175.25 Td (contributed ) Tj ET Q q 0 0 0 rg BT 136.04 175.25 Td (by ) Tj ET Q q 0 0 0 rg BT 147.77 175.25 Td (the ) Tj ET Q q 0 0 0 rg BT 161.71 175.25 Td (employee ) Tj ET Q q 0 0 0 rg BT 202.31 175.25 Td (each ) Tj ET Q q 0 0 0 rg BT 222.35 175.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 238.52 175.25 Td (period. ) Tj ET Q q 0 0 0 rg BT 268.17 175.25 Td (The ) Tj ET Q q 0 0 0 rg BT 285.44 175.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 326.06 175.25 Td (also ) Tj ET Q q 0 0 0 rg BT 343.89 175.25 Td (maintains ) Tj ET Q q 0 0 0 rg BT 384.50 175.25 Td (a ) Tj ET Q q 0 0 0 rg BT 390.67 175.25 Td (non-qualified ) Tj ET Q q 0 0 0 rg BT 446.27 175.25 Td (savings ) Tj ET Q q 0 0 0 rg BT 478.00 175.25 Td (plan, ) Tj ET Q q 0 0 0 rg BT 499.32 175.25 Td (The ) Tj ET Q q 0 0 0 rg BT 516.59 175.25 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 552.75 175.25 Td (Excess ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 163.25 Td (Savings ) Tj ET Q q 0 0 0 rg BT 66.25 163.25 Td (Plan, ) Tj ET Q q 0 0 0 rg BT 89.61 163.25 Td (with ) Tj ET Q q 0 0 0 rg BT 110.47 163.25 Td (the ) Tj ET Q q 0 0 0 rg BT 125.76 163.25 Td (same ) Tj ET Q q 0 0 0 rg BT 149.39 163.25 Td (level ) Tj ET Q q 0 0 0 rg BT 171.90 163.25 Td (of ) Tj ET Q q 0 0 0 rg BT 183.31 163.25 Td (Company ) Tj ET Q q 0 0 0 rg BT 225.28 163.25 Td (contributions, ) Tj ET Q q 0 0 0 rg BT 283.63 163.25 Td (with ) Tj ET Q q 0 0 0 rg BT 304.49 163.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 335.89 163.25 Td (to ) Tj ET Q q 0 0 0 rg BT 346.75 163.25 Td (employee ) Tj ET Q q 0 0 0 rg BT 388.70 163.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 447.32 163.25 Td (in ) Tj ET Q q 0 0 0 rg BT 458.18 163.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 487.36 163.25 Td (of ) Tj ET Q q 0 0 0 rg BT 498.77 163.25 Td (the ) Tj ET Q q 0 0 0 rg BT 514.07 163.25 Td (limit ) Tj ET Q q 0 0 0 rg BT 536.04 163.25 Td (that ) Tj ET Q q 0 0 0 rg BT 554.11 163.25 Td (can ) Tj ET Q q 0 0 0 rg BT 571.07 163.25 Td (be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 151.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 77.89 151.25 Td (under ) Tj ET Q q 0 0 0 rg BT 103.19 151.25 Td (the ) Tj ET Q q 0 0 0 rg BT 117.94 151.25 Td (tax-qualified ) Tj ET Q q 0 0 0 rg BT 171.55 151.25 Td (Investment ) Tj ET Q q 0 0 0 rg BT 218.52 151.25 Td (and ) Tj ET Q q 0 0 0 rg BT 235.48 151.25 Td (Savings ) Tj ET Q q 0 0 0 rg BT 269.68 151.25 Td (Plan. ) Tj ET Q q 0 0 0 rg BT 292.49 151.25 Td (Eligible ) Tj ET Q q 0 0 0 rg BT 326.68 151.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 384.75 151.25 Td (includes ) Tj ET Q q 0 0 0 rg BT 420.61 151.25 Td (overtime ) Tj ET Q q 0 0 0 rg BT 458.68 151.25 Td (and ) Tj ET Q q 0 0 0 rg BT 475.65 151.25 Td (bonuses ) Tj ET Q q 0 0 0 rg BT 510.40 151.25 Td (but ) Tj ET Q q 0 0 0 rg BT 525.70 151.25 Td (is ) Tj ET Q q 0 0 0 rg BT 534.90 151.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 565.76 151.25 Td (to ) Tj ET Q q 0 0 0 rg BT 576.07 151.25 Td (a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 139.25 Td (total, ) Tj ET Q q 0 0 0 rg BT 53.87 139.25 Td (for ) Tj ET Q q 0 0 0 rg BT 67.62 139.25 Td (the ) Tj ET Q q 0 0 0 rg BT 81.93 139.25 Td (Investment ) Tj ET Q q 0 0 0 rg BT 128.46 139.25 Td (and ) Tj ET Q q 0 0 0 rg BT 144.99 139.25 Td (Savings ) Tj ET Q q 0 0 0 rg BT 178.75 139.25 Td (Plan ) Tj ET Q q 0 0 0 rg BT 198.63 139.25 Td (and ) Tj ET Q q 0 0 0 rg BT 215.16 139.25 Td (Excess ) Tj ET Q q 0 0 0 rg BT 245.02 139.25 Td (Savings ) Tj ET Q q 0 0 0 rg BT 278.79 139.25 Td (Plan ) Tj ET Q q 0 0 0 rg BT 298.66 139.25 Td (combined, ) Tj ET Q q 0 0 0 rg BT 342.68 139.25 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.11 139.25 Td ($1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 363.11 139.25 Td ( ) Tj ET Q q 0 0 0 rg BT 365.20 139.25 Td (annually) Tj ET Q q 0 0 0 rg BT 398.99 139.25 Td (. ) Tj ET Q q 0 0 0 rg BT 403.43 139.25 Td (The ) Tj ET Q q 0 0 0 rg BT 421.07 139.25 Td (total ) Tj ET Q q 0 0 0 rg BT 440.94 139.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 459.14 139.25 Td (to ) Tj ET Q q 0 0 0 rg BT 468.86 139.25 Td (The ) Tj ET Q q 0 0 0 rg BT 486.50 139.25 Td (Hartford ) Tj ET Q q 0 0 0 rg BT 523.02 139.25 Td (for ) Tj ET Q q 0 0 0 rg BT 536.78 139.25 Td (these ) Tj ET Q q 0 0 0 rg BT 559.42 139.25 Td (plans ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 127.25 Td (was ) Tj ET Q q 0 0 0 rg BT 49.55 127.25 Td (approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 109.81 127.25 Td ($123) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 129.81 127.25 Td ( ) Tj ET Q q 0 0 0 rg BT 132.31 127.25 Td (for ) Tj ET Q q 0 0 0 rg BT 146.47 127.25 Td (2013.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 109.25 Td (Prior to January 1, 2013, the contributions to ) Tj ET Q q 0 0 0 rg BT 212.96 109.25 Td (The Hartford Investment and Savings Plan were matched, up to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 469.84 109.25 Td (3.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.67 109.25 Td ( of base salary) Tj ET Q q 0 0 0 rg BT 547.50 109.25 Td (, by the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 97.25 Td (Company) Tj ET Q q 0 0 0 rg BT 69.74 97.25 Td (. In 2012, employees who had earnings of less than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 276.92 97.25 Td ($1) Tj ET Q q 0 0 0 rg BT 286.54 97.25 Td (10 thousand) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 335.15 97.25 Td ( in the preceding year also received a contribution of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.40 97.25 Td (1.5%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 569.23 97.25 Td ( of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 85.25 Td (base salary and employees who had earnings of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.21 85.25 Td ($1) Tj ET Q q 0 0 0 rg BT 233.84 85.25 Td (10 thousand) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.45 85.25 Td ( or more in the preceding year received a contribution of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.97 85.25 Td (0.5%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 531.80 85.25 Td ( of base ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 73.25 Td (salary) Tj ET Q q 0 0 0 rg BT 54.73 73.25 Td (. ) Tj ET Q q 0 0 0 rg BT 59.55 73.25 Td (The cost to ) Tj ET Q q 0 0 0 rg BT 106.30 73.25 Td (The Hartford for this plan was approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.41 73.25 Td ($58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 305.41 73.25 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.35 73.25 Td ($59) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 342.35 73.25 Td ( for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.01 73.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 379.01 73.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.45 73.25 Td (201) Tj ET Q q 0 0 0 rg BT 413.08 73.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 418.08 73.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 470.74 73.25 Td (. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 49.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 81.40 49.25 Td (, ) Tj ET Q q 0 0 0 rg BT 86.22 49.25 Td (The Hartford has established defined contribution pension plans for certain employees of the Company) Tj ET Q q 0 0 0 rg BT 501.38 49.25 Td (s international ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 37.25 Td (subsidiaries. ) Tj ET Q q 0 0 0 rg BT 83.54 37.25 Td (The cost to ) Tj ET Q q 0 0 0 rg BT 130.29 37.25 Td (The Hartford in2013,2012, and201) Tj ET Q q 0 0 0 rg BT 277.11 37.25 Td (1for these plans was immaterial.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (18. Employee Benefit Plans \(continued\)) Tj ET Q endstream endobj 467 0 obj <> endobj 468 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-97) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (19) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 42.50 712.60 Td (. ) Tj ET Q q 0 0 0 rg BT 48.00 712.60 Td (Stock ) Tj ET Q q 0 0 0 rg BT 77.03 712.60 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 147.62 712.60 Td (Plans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 694.60 Td (The Company has four stock-based compensation plans which are described below) Tj ET Q q 0 0 0 rg BT 363.53 694.60 Td (. Shares issued in satisfaction of stock-based ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 682.60 Td (compensation may be made available from authorized but unissued shares, shares held by the Company in treasury or from shares ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 670.60 Td (purchased in the open market. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.06 670.60 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.06 670.60 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.50 670.60 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.50 670.60 Td (, the Company issued shares from treasury in satisfaction of stock-based compensation.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 625.10 381.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 625.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 625.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 625.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 597.10 381.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 413.00 597.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 469.00 597.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 525.00 597.10 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 640.1 m 469 640.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 640.1 m 525 640.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 640.1 m 581 640.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 640.1 m 469 640.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 625.1 m 469 625.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 640.1 m 525 640.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 625.1 m 525 625.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 640.1 m 581 640.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 625.1 m 581 625.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 597.1 m 413 597.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 584.1 m 413 584.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 413 597.1 m 469 597.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 584.1 m 469 584.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 469 597.1 m 525 597.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 469 584.1 m 525 584.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 525 597.1 m 581 597.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 525 584.1 m 581 584.1 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 644.67 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 433.00 644.55 Td (For the year ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 629.77 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.50 629.55 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 487.50 629.55 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 543.70 629.55 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 615.67 Td (Stock-based compensation plans expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.50 615.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 455.15 615.67 Td (69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.50 615.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.15 615.67 Td (95) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.50 615.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 615.67 Td (53) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 601.67 Td (Income tax benefit) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.80 601.72 Td (\(24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 601.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 507.80 601.72 Td (\(33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 601.67 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 601.67 Td (\(19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 601.67 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 587.83 Td (Total stock-based compensation plans expense, after-tax) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.50 587.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 455.15 587.83 Td (45) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.50 587.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 511.15 587.83 Td (62) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 527.50 587.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 567.15 587.83 Td (34) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 566.60 Td (The Company did not capitalize any cost of stock-based compensation. ) Tj ET Q q 0 0 0 rg BT 318.37 566.60 Td (As of December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.90 566.60 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.40 566.60 Td (, the total compensation cost related to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 554.60 Td (non-vested awards not yet recognized was ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.11 554.60 Td ($105) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.11 554.60 Td (, which is expected to be recognized over a weighted average period of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 509.65 554.60 Td (2.2 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 545.75 554.60 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 536.60 Td (Stock Plan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 518.60 Td (The Hartford 2010 Incentive Stock Plan \(the "2010 Stock Plan"\) provides for awards to be granted in the form of non-qualified or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 506.60 Td (incentive stock options qualifying under Section422 of the Internal Revenue Code, stock appreciation rights, performance shares, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 494.60 Td (restricted stock or restricted stock units, or any other form of stock-based award. ) Tj ET Q q 0 0 0 rg BT 355.94 494.60 Td (The aggregate number of shares of stock which may be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 482.60 Td (awarded is subject to a maximum limit of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.35 482.60 Td (18,000,000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 245.35 482.60 Td ( shares applicable to all awards for the ten-year duration of the 2010 Stock Plan. If ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 470.60 Td (any award under the prior ) Tj ET Q q 0 0 0 rg BT 137.11 470.60 Td (The Hartford Incentive Stock Plan \(as approved by the Company) Tj ET Q q 0 0 0 rg BT 400.09 470.60 Td (s shareholders in 2000\) or under the prior ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 458.60 Td (The Hartford 2005 Incentive Stock Plan \(as approved by the Company) Tj ET Q q 0 0 0 rg BT 316.98 458.60 Td (s shareholders in 2005\) that was outstanding as of March31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 446.60 Td (2010, is forfeited, terminated, surrendered, exchanged, expires unexercised, or is settled in cash in lieu of stock \(including to ef) Tj ET Q q 0 0 0 rg BT 539.77 446.60 Td (fect tax ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 434.60 Td (withholding\) or for the net issuance of a lesser number of shares than the number subject to the award, the shares of stock subject to such ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 422.60 Td (award \(or the relevant portion thereof\) shall be available for awards under the 2010 Stock Plan and such shares shall be added to the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 410.60 Td (maximum limit. ) Tj ET Q q 0 0 0 rg BT 97.89 410.60 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 122.33 410.60 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 200.92 410.60 Td (, there were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.33 410.60 Td (8,143,264) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 290.33 410.60 Td ( shares available for future issuance.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 392.60 Td (The fair values of awards granted under the 2010 Stock Plan are measured as of the grant date and expensed ratably over the awards) Tj ET Q q 0 0 0 rg BT 563.05 392.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 380.60 Td (vesting periods, generally ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 137.03 380.60 Td (3 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.63 380.60 Td (. For stock option awards granted or modified in 2006 and later) Tj ET Q q 0 0 0 rg BT 418.50 380.60 Td (, the Company began expensing awards ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 368.60 Td (to retirement-eligible employees immediately or over a period shorter than the stated vesting period because the employees receive ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 356.60 Td (accelerated vesting upon retirement and therefore the vesting period is considered non-substantive. ) Tj ET Q q 0 0 0 rg BT 428.86 356.60 Td (A) Tj ET Q q 0 0 0 rg BT 435.17 356.60 Td (wards granted prior to October ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 344.60 Td (2013 provide for accelerated vesting upon a change of control of the Company as defined in the 2010 Stock Plan; awards granted in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 332.60 Td (October 2013 or later do not provide for accelerated vesting upon a change of control so long as the awards are assumed or replaced with ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 320.60 Td (substantially equivalent awards, in which case vesting is accelerated if an employee is terminated without cause, or terminates for good ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 308.60 Td (reason, within two years of the change of control.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 290.60 Td (Stock Option ) Tj ET Q q 0 0 0 rg BT 85.75 290.60 Td (A) Tj ET Q q 0 0 0 rg BT 91.31 290.60 Td (war) Tj ET Q q 0 0 0 rg BT 106.50 290.60 Td (ds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 272.60 Td (Under the 2010 Stock Plan, all options granted have an exercise price at least equal to the market price of the Company) Tj ET Q q 0 0 0 rg BT 511.90 272.60 Td (s common stock ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 260.60 Td (on the date of grant, and an option) Tj ET Q q 0 0 0 rg BT 171.46 260.60 Td (s maximum term is not to exceed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.71 260.60 Td (10 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 340.31 260.60 Td (. Under the 2010 Stock Plan, options will generally become ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 248.60 Td (exercisable as determined at the time of grant. For any year) Tj ET Q q 0 0 0 rg BT 268.50 248.60 Td (, no individual employee may receive an award of options for more than ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 236.60 Td (2,000,000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 236.60 Td ( shares under the 2010 Stock Plan. Under the 2005 Stock Plan, certain options become exercisable) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.01 236.60 Td ( over a three year period ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 224.60 Td (commencing one year from the date of grant, while certain other options become exercisable at the later of three years from the date of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 212.60 Td (grant or upon specified market appreciation of the Company) Tj ET Q q 0 0 0 rg BT 275.87 212.60 Td (s common shares.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 347.24 212.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 194.60 Td (The Company uses a hybrid lattice/Monte-Carlo based option valuation model \(the valuation model\) that incorporates the possibility ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 182.60 Td (of early exercise of options into the valuation. ) Tj ET Q q 0 0 0 rg BT 217.65 182.60 Td (The valuation model also incorporates the Company) Tj ET Q q 0 0 0 rg BT 429.82 182.60 Td (s historical termination and exercise ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 170.60 Td (experience to determine the option value.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 152.60 Td (The valuation model incorporates ranges of assumptions for inputs, and therefore, those ranges are disclosed below) Tj ET Q q 0 0 0 rg BT 492.11 152.60 Td (. ) Tj ET Q q 0 0 0 rg BT 496.92 152.60 Td (The term structure ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 140.60 Td (of volatility is generally constructed utilizing implied volatilities from exchange-traded options, CPP) Tj ET Q q 0 0 0 rg BT 436.88 140.60 Td ( warrants related to the Company) Tj ET Q q 0 0 0 rg BT 572.67 140.60 Td (s ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 128.60 Td (stock, historical volatility of the Company) Tj ET Q q 0 0 0 rg BT 203.14 128.60 Td (s stock and other factors. ) Tj ET Q q 0 0 0 rg BT 305.15 128.60 Td (The Company uses historical data to estimate option exercise and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 116.60 Td (employee termination within the valuation model, and accommodates variations in employee preference and risk-tolerance by ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 104.60 Td (segregating the grantee pool into a series of behavioral cohorts and conducting a fair valuation for each cohort individually) Tj ET Q q 0 0 0 rg BT 522.35 104.60 Td (. ) Tj ET Q q 0 0 0 rg BT 527.17 104.60 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 92.60 Td (expected term of options granted is derived from the output of the option valuation model and represents, in a mathematical sense, the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 80.60 Td (period of time that options are expected to be outstanding. ) Tj ET Q q 0 0 0 rg BT 266.53 80.60 Td (The risk-free rate for periods within the contractual life of the option is based ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 68.60 Td (on the U.S. Constant Maturity ) Tj ET Q q 0 0 0 rg BT 154.37 68.60 Td (T) Tj ET Q q 0 0 0 rg BT 160.13 68.60 Td (reasury yield curve in ef) Tj ET Q q 0 0 0 rg BT 257.13 68.60 Td (fect at the time of grant. ) Tj ET Q BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q endstream endobj 469 0 obj <> endobj 470 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-98) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 684.50 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 684.50 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 684.50 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 655.50 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 655.50 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 655.50 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 626.50 306.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 338.00 626.50 92.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 430.00 626.50 92.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 697.5 m 381 697.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 697.5 m 387 697.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 697.5 m 430 697.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 697.5 m 473 697.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 697.5 m 479 697.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 697.5 m 522 697.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 684.5 m 381 684.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 684.5 m 387 684.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 684.5 m 430 684.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 684.5 m 473 684.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 684.5 m 479 684.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 684.5 m 522 684.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 338 684.5 m 381 684.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 381 684.5 m 387 684.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387 684.5 m 430 684.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 430 684.5 m 473 684.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473 684.5 m 479 684.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 479 684.5 m 522 684.5 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 702.17 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.00 701.95 Td (For the year ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 688.07 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 374.50 688.90 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 466.50 688.90 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 675.07 Td (Expected dividend yield) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.05 675.07 Td (1.7%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.05 675.07 Td (1.3%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 660.17 Td (Expected annualized spot volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.60 661.07 Td (31.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.15 661.07 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.80 661.07 Td (-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.50 661.07 Td (48.1%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.60 661.07 Td (38.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.15 661.07 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.80 661.07 Td (-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.50 661.07 Td (51.5%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 646.07 Td (Weighted average annualized volatility) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 370.55 646.07 Td (47.3%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.55 646.07 Td (51.4%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 631.17 Td (Risk-free spot rate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 359.65 632.07 Td (0.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.15 632.07 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 381.80 632.07 Td (-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.50 632.07 Td (1.9%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.65 632.07 Td (0.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 464.15 632.07 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 473.80 632.07 Td (-) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.50 632.07 Td (2.0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 617.07 Td (Expected term) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.45 617.07 Td (5.0 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.45 617.07 Td (5.2 years) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 595.00 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 595.00 Td ( summary of the status of non-qualified stock options included in the Company) Tj ET Q q 0 0 0 rg BT 357.56 595.00 Td (s Stock Plans as of December 31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 493.65 595.00 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.15 595.00 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 583.00 Td (and changes during the year then ended is presented below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 512.50 292.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 512.50 74.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 512.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 512.50 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 512.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 484.50 292.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 484.50 74.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 484.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 484.50 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 484.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 456.50 292.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 456.50 74.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 456.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 456.50 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 456.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 414.50 292.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 324.00 414.50 74.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 398.00 414.50 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 454.00 414.50 61.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 515.00 414.50 56.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 512.5 m 398 512.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 512.5 m 454 512.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 512.5 m 515 512.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 512.5 m 571 512.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 512.5 m 398 512.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 512.5 m 454 512.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 512.5 m 515 512.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 512.5 m 571 512.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 428.5 m 324 428.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 428.5 m 398 428.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 428.5 m 454 428.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 428.5 m 515 428.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 428.5 m 571 428.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 414.5 m 324 414.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 414.5 m 398 414.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 414.5 m 454 414.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 414.5 m 515 414.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 414.5 m 571 414.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 400.5 m 324 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 324 400.5 m 398 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 400.5 m 454 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 454 400.5 m 515 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 400.5 m 571 400.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 339.70 534.95 Td (Number) Tj ET Q q 0 0 0 rg BT 371.53 534.95 Td ( of ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 345.20 525.95 Td (Options) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 333.10 516.95 Td (\(in thousands\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 407.20 543.95 Td (W) Tj ET Q q 0 0 0 rg BT 415.70 543.95 Td (eighted) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 409.80 534.95 Td (A) Tj ET Q q 0 0 0 rg BT 415.63 534.95 Td (verage) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 409.30 525.95 Td (Exer) Tj ET Q q 0 0 0 rg BT 427.63 525.95 Td (cise ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 415.50 516.95 Td (Price) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.70 552.95 Td (W) Tj ET Q q 0 0 0 rg BT 474.20 552.95 Td (eighted) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 468.30 543.95 Td (A) Tj ET Q q 0 0 0 rg BT 474.13 543.95 Td (verage) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 462.95 534.95 Td (Remaining) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 460.75 525.95 Td (Contractual) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.65 516.95 Td (T) Tj ET Q q 0 0 0 rg BT 478.83 516.95 Td (erm) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 522.80 534.95 Td (Aggr) Tj ET Q q 0 0 0 rg BT 542.13 534.95 Td (egate) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 525.95 525.95 Td (Intrinsic ) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 531.65 516.95 Td (V) Tj ET Q q 0 0 0 rg BT 537.32 516.95 Td (alue) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 503.07 Td (Outstanding at beginning of year) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 371.65 503.18 Td (4,537) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.50 503.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.65 503.07 Td (38.42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.40 503.07 Td (5.2 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 503.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.15 503.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 489.07 Td (Granted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.65 489.07 Td (1,287) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.65 489.07 Td (24.15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 475.07 Td (Exercised) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.80 475.12 Td (\(405) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 475.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.65 475.07 Td (16.36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 461.07 Td (Forfeited) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.80 461.12 Td (\(364) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 461.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.65 461.07 Td (41.19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 447.07 Td (Expired) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.80 447.12 Td (\(521) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.15 447.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.65 447.07 Td (37.65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 433.07 Td (Outstanding at end of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.65 433.07 Td (4,534) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.65 433.07 Td (36.34) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.40 433.07 Td (6.2 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 433.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.15 433.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 419.07 Td (Outstanding, fully vested and expected to vest) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.65 419.07 Td (4,389) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.65 419.07 Td (36.78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.40 419.07 Td (6.2 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 419.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.15 419.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 405.07 Td (Exercisable at end of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 371.65 405.07 Td (2,188) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.50 405.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.65 405.07 Td (50.03) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.40 405.07 Td (3.8 years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.50 405.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.15 405.07 Td () Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 383.00 Td (The weighted average grant-date fair value of options granted during the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 374.42 383.00 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.92 383.00 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.92 383.00 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 421.92 383.00 Td (, and 201) Tj ET Q q 0 0 0 rg BT 458.48 383.00 Td (1 was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.03 383.00 Td (7.78) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.53 383.00 Td (, $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.53 383.00 Td (7.41) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.03 383.00 Td ( and 10.76, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 371.00 Td (respectively) Tj ET Q q 0 0 0 rg BT 79.16 371.00 Td (. ) Tj ET Q q 0 0 0 rg BT 83.98 371.00 Td (The total intrinsic value of options exercised during the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 358.06 371.00 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 380.56 371.00 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.56 371.00 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.56 371.00 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.00 371.00 Td (201) Tj ET Q q 0 0 0 rg BT 439.63 371.00 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 444.63 371.00 Td ( was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 470.18 371.00 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.18 371.00 Td (, $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.18 371.00 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.18 371.00 Td (, and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.12 371.00 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 522.12 371.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 574.78 371.00 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 353.00 Td (Shar) Tj ET Q q 0 0 0 rg BT 50.02 353.00 Td (e ) Tj ET Q q 0 0 0 rg BT 56.78 353.00 Td (A) Tj ET Q q 0 0 0 rg BT 62.33 353.00 Td (war) Tj ET Q q 0 0 0 rg BT 77.53 353.00 Td (ds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 335.00 Td (Share awards are valued equal to the market price of the Company) Tj ET Q q 0 0 0 rg BT 300.56 335.00 Td (s common stock on the date of grant. Share awards granted under the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 323.00 Td (Stock Plans and outstanding include restricted stock units, restricted stock and performance shares. Generally) Tj ET Q q 0 0 0 rg BT 468.78 323.00 Td (, restricted stock units vest ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 311.00 Td (at or over three years. Restricted stock awards are granted to non employee directors and generally vest in one year) Tj ET Q q 0 0 0 rg BT 491.32 311.00 Td (. Performance shares ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 299.00 Td (become payable within a range of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.22 299.00 Td (0%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 182.55 299.00 Td ( to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 195.33 299.00 Td (200%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 218.66 299.00 Td ( of the number of shares initially granted based upon the attainment of specific ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 287.00 Td (performance goals achieved over a specified period, generally three years. ) Tj ET Q q 0 0 0 rg BT 330.62 287.00 Td (The maximum award of restricted stock units, restricted stock ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 275.00 Td (or performance shares for any individual employee in any year under the 2010 Stock Plan is ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.50 275.00 Td (500,000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.00 275.00 Td ( shares or units.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 257.00 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 257.00 Td ( summary of the status of the Company) Tj ET Q q 0 0 0 rg BT 198.42 257.00 Td (s non-vested share awards as of December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 383.36 257.00 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.86 257.00 Td (, and changes during the year ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 245.00 Td (December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.58 245.00 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 110.08 245.00 Td (, is presented below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 207.50 343.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 207.50 97.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 207.50 97.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 181.50 343.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 181.50 97.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 181.50 97.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 155.50 343.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 155.50 97.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 155.50 97.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 207.5 m 375 207.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 207.5 m 472 207.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 207.5 m 569 207.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 207.5 m 472 207.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 207.5 m 569 207.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 155.5 m 375 155.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 142.5 m 375 142.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375 155.5 m 472 155.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 142.5 m 472 142.5 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 472 155.5 m 569 155.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 142.5 m 569 142.5 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 211.95 Td (Non-vested Shares) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 381.55 211.95 Td (Shares \(in thousands\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 484.55 219.90 Td (Weighted-Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 476.55 210.90 Td (Grant-Date Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 198.07 Td (Non-vested at beginning of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.65 198.07 Td (6,991) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 474.50 198.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.65 198.07 Td (22.98) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 185.07 Td (Granted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.65 185.07 Td (4,291) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.65 185.07 Td (26.61) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 172.12 Td (Vested) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.30 172.12 Td (\(1,511) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.15 172.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.65 172.12 Td (25.54) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 160.07 Td (Forfeited) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 442.30 160.12 Td (\(1,228) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.15 160.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 542.65 160.07 Td (22.86) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 146.23 Td (Non-vested at end of year) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 445.65 146.23 Td (8,543) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 474.50 146.23 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 542.65 146.23 Td (24.37) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 125.00 Td (The total fair value of shares vested during the years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.10 125.00 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 348.60 125.00 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.60 125.00 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 373.60 125.00 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.04 125.00 Td (201) Tj ET Q q 0 0 0 rg BT 407.67 125.00 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 412.67 125.00 Td ( was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.22 125.00 Td (42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 448.22 125.00 Td (, $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.22 125.00 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.22 125.00 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.66 125.00 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.66 125.00 Td (, respectively) Tj ET Q q 0 0 0 rg BT 555.32 125.00 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 113.00 Td (based on estimated performance factors. ) Tj ET Q q 0 0 0 rg BT 195.14 113.00 Td (The Company did not make cash payments in settlement of stock compensation during the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 101.00 Td (years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 137.56 101.00 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 160.06 101.00 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 165.06 101.00 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.06 101.00 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.50 101.00 Td (201) Tj ET Q q 0 0 0 rg BT 219.13 101.00 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 224.13 101.00 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (19. Stock Compensation Plans \(continued\)) Tj ET Q endstream endobj 471 0 obj <> endobj 472 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 296.55 20.10 Td (F-99) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Restricted Unit awar) Tj ET Q q 0 0 0 rg BT 115.01 713.10 Td (ds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.10 Td (In 2010 and 2009, ) Tj ET Q q 0 0 0 rg BT 106.59 695.10 Td (The Hartford issued restricted units as part of ) Tj ET Q q 0 0 0 rg BT 290.24 695.10 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 345.49 695.10 Td (s 2005 Stock Plan. Restricted stock unit awards under the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.10 Td (plan have historically been settled in shares, but under this award will be settled in cash and are thus referred to as Restricted Units. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.10 Td (The economic value recipients will ultimately realize will be identical to the value that would have been realized if the awards had been ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.10 Td (settled in shares, i.e., upon settlement, recipients will receive cash equal to ) Tj ET Q q 0 0 0 rg BT 331.50 659.10 Td (The Hartford) Tj ET Q q 0 0 0 rg BT 386.75 659.10 Td (s share price multiplied by the number of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.10 Td (restricted units awarded. Because Restricted Units will be settled in cash, the awards are remeasured at the end of each reporting period ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.10 Td (until settlement. ) Tj ET Q q 0 0 0 rg BT 97.88 635.10 Td (A) Tj ET Q q 0 0 0 rg BT 104.19 635.10 Td (wards granted in 2009 vested after a three year period. ) Tj ET Q q 0 0 0 rg BT 323.82 635.10 Td (A) Tj ET Q q 0 0 0 rg BT 330.12 635.10 Td (wards granted in 2010 include both graded and clif) Tj ET Q q 0 0 0 rg BT 533.77 635.10 Td (f vesting ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.10 Td (restricted units which vest over a three year period. ) Tj ET Q q 0 0 0 rg BT 238.46 623.10 Td (The graded vesting attribution method is used to recognize the expense of the award ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.10 Td (over the requisite service period. For example, the graded vesting attribution method ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 372.51 611.10 Td (views one three-year grant with annual graded ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.10 Td (vesting as three separate sub-grants, each representing one third of the total number of awards granted. ) Tj ET Q q 0 0 0 rg BT 444.50 599.10 Td (The first sub-grant vests over one ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.10 Td (year) Tj ET Q q 0 0 0 rg BT 48.31 587.10 Td (, the second sub-grant vests over two years and the third sub-grant vests over three years.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.59 587.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.10 Td (There were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.24 569.10 Td (no) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.24 569.10 Td ( restricted units awarded for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 203.92 569.10 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 223.92 569.10 Td ( or 2012. ) Tj ET Q q 0 0 0 rg BT 261.70 569.10 Td (As of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.14 569.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 364.73 569.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 384.17 569.10 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 404.17 569.10 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.17 569.10 Td (27 thousand) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.77 569.10 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.21 569.10 Td (832 thousand) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 530.82 569.10 Td ( restricted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.10 Td (units were outstanding, respectively) Tj ET Q q 0 0 0 rg BT 174.70 557.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 539.10 Td (Deferr) Tj ET Q q 0 0 0 rg BT 59.63 539.10 Td (ed Stock Unit Plan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 521.10 Td (Ef) Tj ET Q q 0 0 0 rg BT 40.76 521.10 Td (fective July31, 2009, the Compensation and Management Development Committee of the Board authorized ) Tj ET Q q 0 0 0 rg BT 476.58 521.10 Td (The Hartford Deferred ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 509.10 Td (Stock Unit Plan \(Deferred Stock Unit Plan\), and, on October22, 2009, it was amended. ) Tj ET Q q 0 0 0 rg BT 392.90 509.10 Td (The Deferred Stock Unit Plan provides for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 497.10 Td (contractual rights to receive cash payments based on the value of a specified number of shares of stock. ) Tj ET Q q 0 0 0 rg BT 447.56 497.10 Td (The Deferred Stock Unit Plan ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 485.10 Td (provides for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.60 485.10 Td (two) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 97.60 485.10 Td ( award types, Deferred Units and Restricted Units. Deferred Units are earned ratably over a year) Tj ET Q q 0 0 0 rg BT 482.31 485.10 Td (, based on the number ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 473.10 Td (of regular pay periods occurring during such year) Tj ET Q q 0 0 0 rg BT 228.93 473.10 Td (. Deferred Units are credited to the participant's account on a quarterly basis based on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 461.10 Td (the market price of the Company) Tj ET Q q 0 0 0 rg BT 166.18 461.10 Td (s common stock on the date of grant and are fully vested at all times. Deferred Units credited to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 449.10 Td (employees prior to January1, 2010 \(other than senior executive of) Tj ET Q q 0 0 0 rg BT 297.07 449.10 Td (ficers hired on or after October1, 2009\) are not paid until after two ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 437.10 Td (years from their grant date. Deferred Units credited ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.46 437.10 Td (on or after January1, 2010 \(and any credited to senior executive of) Tj ET Q q 0 0 0 rg BT 507.79 437.10 Td (ficers hired on or ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 425.10 Td (after October1, 2009\) are paid in three equal installments after the first, second and third anniversaries of their grant date) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.87 425.10 Td (. Restricted ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 413.10 Td (Units are intended to be incentive compensation and, unlike Deferred Units, vest over time, generally ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.70 413.10 Td (three years) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.29 413.10 Td (, and are subject to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 401.10 Td (forfeiture. ) Tj ET Q q 0 0 0 rg BT 74.07 401.10 Td (The Deferred Stock Unit Plan is structured consistent with the limitations and restrictions on employee compensation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 389.10 Td (arrangements imposed by the Emer) Tj ET Q q 0 0 0 rg BT 172.94 389.10 Td (gency Economic Stabilization ) Tj ET Q q 0 0 0 rg BT 294.85 389.10 Td (Act of 2008 and the ) Tj ET Q q 0 0 0 rg BT 376.60 389.10 Td (T) Tj ET Q q 0 0 0 rg BT 381.91 389.10 Td (ARP) Tj ET Q q 0 0 0 rg BT 400.99 389.10 Td ( Standards for Compensation and Corporate ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 377.10 Td (Governance Interim Final Rule issued by the U.S. Department of ) Tj ET Q q 0 0 0 rg BT 294.03 377.10 Td (T) Tj ET Q q 0 0 0 rg BT 299.79 377.10 Td (reasury on June10, 2009.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 359.10 Td (There were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.24 359.10 Td (no) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 89.24 359.10 Td ( deferred stock units awarded in 2013 or 2012.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 341.10 Td (A) Tj ET Q q 0 0 0 rg BT 38.17 341.10 Td ( summary of the status of the Company) Tj ET Q q 0 0 0 rg BT 198.42 341.10 Td (s non-vested awards under the Deferred Stock Unit Plan as of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.52 341.10 Td (December31, 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.10 341.10 Td (, is presented ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 329.10 Td (below:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 288.60 343.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 288.60 97.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 288.60 98.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 260.60 343.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 260.60 97.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 260.60 98.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 232.60 343.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 375.00 232.60 97.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 472.00 232.60 98.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 288.6 m 375 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 288.6 m 472 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 288.6 m 570 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 288.6 m 472 288.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 288.6 m 570 288.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 232.60000000000002 m 375 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 219.60000000000002 m 375 219.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 375 232.60000000000002 m 472 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 375 219.60000000000002 m 472 219.60000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 472 232.60000000000002 m 570 232.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 472 219.60000000000002 m 570 219.60000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 293.05 Td (Non-vested Units) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 385.50 302.05 Td (Restricted Units \(in) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 401.95 293.05 Td (thousands\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 485.05 302.05 Td (Weighted-Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 477.05 293.05 Td (Grant-Date Fair Value) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 279.17 Td (Non-vested at beginning of year) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 453.15 279.17 Td (309) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.65 279.17 Td (25.08) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 265.17 Td (Granted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.15 265.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 556.15 265.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 251.17 Td (Vested) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.80 251.22 Td (\(306) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.15 251.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.65 251.17 Td (25.04) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 237.17 Td (Forfeited) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 459.80 237.22 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 468.15 237.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.65 237.17 Td (28.99) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 223.33 Td (Non-vested at end of year) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.15 223.33 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 474.50 223.33 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 556.15 223.33 Td () Tj ET Q BT /F2 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 202.10 Td (Subsidiary Stock Plan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 184.10 Td (In 2013 ) Tj ET Q q 0 0 0 rg BT 64.65 184.10 Td (The Hartford established a subsidiary stock-based compensation plan similar to ) Tj ET Q q 0 0 0 rg BT 384.94 184.10 Td (The Hartford 2010 Incentive Stock Plan except ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 172.10 Td (that it awards non-public subsidiary stock as compensation. ) Tj ET Q q 0 0 0 rg BT 272.11 172.10 Td (The Company recognized stock-based compensation plans expense of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.80 172.10 Td ($1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 564.80 172.10 Td ( in ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 160.10 Td (the year ended December 31, 2013 for the subsidiary stock plan. Upon employee vesting of subsidiary stock, the Company will ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 148.10 Td (recognize a noncontrolling equity interest. Employees will be restricted from selling vested subsidiary stock to other than the Company ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 136.10 Td (and the Company will have discretion on the amount of stock to repurchase. ) Tj ET Q q 0 0 0 rg BT 338.46 136.10 Td (Therefore the subsidiary stock will be classified as equity ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 124.10 Td (because it is not mandatorily redeemable.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (19. Stock Compensation Plans \(continued\)) Tj ET Q endstream endobj 473 0 obj <> endobj 474 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.05 20.10 Td (F-100) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 31.50 713.25 Td (Employee Stock Pur) Tj ET Q q 0 0 0 rg BT 118.54 713.25 Td (chase Plan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 695.25 Td (In 1996, the Company established ) Tj ET Q q 0 0 0 rg BT 170.19 695.25 Td (The Hartford Employee Stock Purchase Plan \(ESPP\). Under this plan, eligible employees of ) Tj ET Q q 0 0 0 rg BT 550.75 695.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 683.25 Td (Hartford purchase common stock of the Company at a discount rate of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.86 683.25 Td (5%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.19 683.25 Td ( of the market price per share on the last trading day of the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 671.25 Td (of) Tj ET Q q 0 0 0 rg BT 39.65 671.25 Td (fering period. In 2009 and prior years, eligible employees of ) Tj ET Q q 0 0 0 rg BT 283.28 671.25 Td (The Hartford purchased common stock of the Company at a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 525.99 671.25 Td (15%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.32 671.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 659.25 Td (discount from the lower of the closing market price at the beginning or end of the of) Tj ET Q q 0 0 0 rg BT 367.89 659.25 Td (fering period. Employees purchase a variable ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 647.25 Td (number of shares of stock through payroll deductions elected as of the beginning of the of) Tj ET Q q 0 0 0 rg BT 390.94 647.25 Td (fering period. ) Tj ET Q q 0 0 0 rg BT 447.69 647.25 Td (The Company may sell up to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 635.25 Td (15,400,000) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 76.50 635.25 Td ( shares of stock to eligible employees under the ESPP) Tj ET Q q 0 0 0 rg BT 290.63 635.25 Td (. ) Tj ET Q q 0 0 0 rg BT 295.08 635.25 Td (As of December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.61 635.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.11 635.25 Td (, there were ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 447.52 635.25 Td (5,476,032) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.52 635.25 Td ( shares available for ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 623.25 Td (future issuance. During the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 192.28 623.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 214.78 623.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 219.78 623.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 239.78 623.25 Td ( and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 259.21 623.25 Td (201) Tj ET Q q 0 0 0 rg BT 273.84 623.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.84 623.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 283.84 623.25 Td (321,723) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 316.34 623.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 321.34 623.25 Td (688,655) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.84 623.25 Td (, and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.78 623.25 Td (768,380) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.28 623.25 Td ( shares were sold, respectively) Tj ET Q q 0 0 0 rg BT 529.53 623.25 Td (. ) Tj ET Q q 0 0 0 rg BT 534.35 623.25 Td (The ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 611.25 Td (weighted average per share fair value of the discount under the ESPP) Tj ET Q q 0 0 0 rg BT 307.98 611.25 Td ( was $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 333.53 611.25 Td (1.52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.03 611.25 Td (, $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.03 611.25 Td (1.00) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 378.53 611.25 Td ( and $) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.97 611.25 Td (1.03) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.47 611.25 Td ( during the years ended ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 516.27 611.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 538.77 611.25 Td ( , ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 546.27 611.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 566.27 611.25 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 599.25 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 48.44 599.25 Td (201) Tj ET Q q 0 0 0 rg BT 63.07 599.25 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 68.07 599.25 Td (, respectively) Tj ET Q q 0 0 0 rg BT 120.73 599.25 Td (. In ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 136.56 599.25 Td ( 2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 159.06 599.25 Td (, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 164.06 599.25 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 184.06 599.25 Td (, and 201) Tj ET Q q 0 0 0 rg BT 220.63 599.25 Td (1, the fair value is estimated based on the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 388.35 599.25 Td (5%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.68 599.25 Td ( discount of) Tj ET Q q 0 0 0 rg BT 448.72 599.25 Td (f the market price per share on ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 587.25 Td (the last trading day of the of) Tj ET Q q 0 0 0 rg BT 144.06 587.25 Td (fering period. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 569.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 81.40 569.25 Td (, ) Tj ET Q q 0 0 0 rg BT 86.22 569.25 Td (The Hartford has established employee stock purchase sub-plans for certain employees of the Company's international ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 557.25 Td (subsidiaries. Under these sub-plans, participants may purchase common stock of ) Tj ET Q q 0 0 0 rg BT 358.74 557.25 Td (The Hartford at a fixed price. ) Tj ET Q q 0 0 0 rg BT 480.72 557.25 Td (The activity under these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 545.25 Td (programs is not material. ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 526.05 Td (20) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 42.50 526.05 Td (. Discontinued Operations ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 508.05 Td (On December 12, 2013, the Company completed the sale of HLIL, an indirect wholly-owned subsidiary) Tj ET Q q 0 0 0 rg BT 447.13 508.05 Td (. For further information ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 496.05 Td (regarding the sale of HLIL, see Note ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 180.88 496.05 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 185.88 496.05 Td ( - ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 194.21 496.05 Td (Business Dispositions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 282.29 496.05 Td ( of Notes to Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 478.05 Td (On ) Tj ET Q q 0 0 0 rg BT 45.37 478.05 Td (November1, ) Tj ET Q q 0 0 0 rg BT 99.22 478.05 Td (201) Tj ET Q q 0 0 0 rg BT 113.85 478.05 Td (1, ) Tj ET Q q 0 0 0 rg BT 122.99 478.05 Td (the ) Tj ET Q q 0 0 0 rg BT 136.86 478.05 Td (Company ) Tj ET Q q 0 0 0 rg BT 177.39 478.05 Td (completed ) Tj ET Q q 0 0 0 rg BT 220.68 478.05 Td (a ) Tj ET Q q 0 0 0 rg BT 226.77 478.05 Td (mer) Tj ET Q q 0 0 0 rg BT 242.13 478.05 Td (ger ) Tj ET Q q 0 0 0 rg BT 256.55 478.05 Td (with ) Tj ET Q q 0 0 0 rg BT 275.97 478.05 Td (CenterState ) Tj ET Q q 0 0 0 rg BT 324.27 478.05 Td (Banks, ) Tj ET Q q 0 0 0 rg BT 353.41 478.05 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 370.33 478.05 Td (\(CBI\), ) Tj ET Q q 0 0 0 rg BT 406.68 478.05 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 442.76 478.05 Td (to ) Tj ET Q q 0 0 0 rg BT 452.19 478.05 Td (which ) Tj ET Q q 0 0 0 rg BT 478.27 478.05 Td (Federal ) Tj ET Q q 0 0 0 rg BT 509.78 478.05 Td (T) Tj ET Q q 0 0 0 rg BT 515.54 478.05 Td (rust ) Tj ET Q q 0 0 0 rg BT 532.19 478.05 Td (Corporation ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 466.05 Td (\(FTC\), ) Tj ET Q q 0 0 0 rg BT 69.63 466.05 Td (a ) Tj ET Q q 0 0 0 rg BT 75.83 466.05 Td (wholly ) Tj ET Q q 0 0 0 rg BT 105.36 466.05 Td (owned ) Tj ET Q q 0 0 0 rg BT 133.78 466.05 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 176.64 466.05 Td (of ) Tj ET Q q 0 0 0 rg BT 186.72 466.05 Td (the ) Tj ET Q q 0 0 0 rg BT 200.70 466.05 Td (Company) Tj ET Q q 0 0 0 rg BT 238.93 466.05 Td (, ) Tj ET Q q 0 0 0 rg BT 243.19 466.05 Td (was ) Tj ET Q q 0 0 0 rg BT 260.50 466.05 Td (mer) Tj ET Q q 0 0 0 rg BT 275.86 466.05 Td (ged ) Tj ET Q q 0 0 0 rg BT 292.06 466.05 Td (with ) Tj ET Q q 0 0 0 rg BT 311.59 466.05 Td (and ) Tj ET Q q 0 0 0 rg BT 327.78 466.05 Td (into ) Tj ET Q q 0 0 0 rg BT 345.10 466.05 Td (CBI, ) Tj ET Q q 0 0 0 rg BT 366.02 466.05 Td (and ) Tj ET Q q 0 0 0 rg BT 382.22 466.05 Td (Federal ) Tj ET Q q 0 0 0 rg BT 413.83 466.05 Td (T) Tj ET Q q 0 0 0 rg BT 419.59 466.05 Td (rust ) Tj ET Q q 0 0 0 rg BT 436.34 466.05 Td (Bank ) Tj ET Q q 0 0 0 rg BT 459.21 466.05 Td (\(FTB\), ) Tj ET Q q 0 0 0 rg BT 497.34 466.05 Td (a ) Tj ET Q q 0 0 0 rg BT 503.53 466.05 Td (federally ) Tj ET Q q 0 0 0 rg BT 540.82 466.05 Td (chartered, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 454.05 Td (FDIC-insured ) Tj ET Q q 0 0 0 rg BT 90.38 454.05 Td (thrift ) Tj ET Q q 0 0 0 rg BT 113.70 454.05 Td (and ) Tj ET Q q 0 0 0 rg BT 131.46 454.05 Td (wholly ) Tj ET Q q 0 0 0 rg BT 162.56 454.05 Td (owned ) Tj ET Q q 0 0 0 rg BT 192.54 454.05 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 236.98 454.05 Td (of ) Tj ET Q q 0 0 0 rg BT 248.63 454.05 Td (FTC, ) Tj ET Q q 0 0 0 rg BT 272.80 454.05 Td (was ) Tj ET Q q 0 0 0 rg BT 291.67 454.05 Td (mer) Tj ET Q q 0 0 0 rg BT 307.04 454.05 Td (ged ) Tj ET Q q 0 0 0 rg BT 324.80 454.05 Td (with ) Tj ET Q q 0 0 0 rg BT 345.90 454.05 Td (and ) Tj ET Q q 0 0 0 rg BT 363.67 454.05 Td (into ) Tj ET Q q 0 0 0 rg BT 382.55 454.05 Td (CenterState ) Tj ET Q q 0 0 0 rg BT 432.52 454.05 Td (Bank ) Tj ET Q q 0 0 0 rg BT 456.95 454.05 Td (of ) Tj ET Q q 0 0 0 rg BT 468.61 454.05 Td (Florida, ) Tj ET Q q 0 0 0 rg BT 503.32 454.05 Td (N.A. ) Tj ET Q q 0 0 0 rg BT 526.09 454.05 Td (\(CenterState ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 442.05 Td (Bank\), ) Tj ET Q q 0 0 0 rg BT 65.52 442.05 Td (a ) Tj ET Q q 0 0 0 rg BT 72.60 442.05 Td (wholly ) Tj ET Q q 0 0 0 rg BT 103.02 442.05 Td (owned ) Tj ET Q q 0 0 0 rg BT 132.32 442.05 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 176.07 442.05 Td (of ) Tj ET Q q 0 0 0 rg BT 187.04 442.05 Td (CBI. ) Tj ET Q q 0 0 0 rg BT 208.66 442.05 Td (The ) Tj ET Q q 0 0 0 rg BT 226.84 442.05 Td (Company ) Tj ET Q q 0 0 0 rg BT 268.37 442.05 Td (recorded ) Tj ET Q q 0 0 0 rg BT 305.99 442.05 Td (an ) Tj ET Q q 0 0 0 rg BT 318.07 442.05 Td (after) Tj ET Q q 0 0 0 rg BT 336.18 442.05 Td (-tax ) Tj ET Q q 0 0 0 rg BT 354.37 442.05 Td (char) Tj ET Q q 0 0 0 rg BT 371.40 442.05 Td (ge ) Tj ET Q q 0 0 0 rg BT 383.47 442.05 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.44 442.05 Td ($74) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 409.44 442.05 Td ( ) Tj ET Q q 0 0 0 rg BT 412.09 442.05 Td (to ) Tj ET Q q 0 0 0 rg BT 422.50 442.05 Td (net ) Tj ET Q q 0 0 0 rg BT 437.36 442.05 Td (realized ) Tj ET Q q 0 0 0 rg BT 471.64 442.05 Td (capital ) Tj ET Q q 0 0 0 rg BT 500.93 442.05 Td (losses ) Tj ET Q q 0 0 0 rg BT 527.47 442.05 Td (in ) Tj ET Q q 0 0 0 rg BT 537.89 442.05 Td (the ) Tj ET Q q 0 0 0 rg BT 552.74 442.05 Td (second ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 430.05 Td (quarter ) Tj ET Q q 0 0 0 rg BT 61.88 430.05 Td (of ) Tj ET Q q 0 0 0 rg BT 72.27 430.05 Td (201) Tj ET Q q 0 0 0 rg BT 86.90 430.05 Td (1 ) Tj ET Q q 0 0 0 rg BT 93.96 430.05 Td (for ) Tj ET Q q 0 0 0 rg BT 107.68 430.05 Td (the ) Tj ET Q q 0 0 0 rg BT 121.95 430.05 Td (estimated ) Tj ET Q q 0 0 0 rg BT 162.33 430.05 Td (loss ) Tj ET Q q 0 0 0 rg BT 179.96 430.05 Td (on ) Tj ET Q q 0 0 0 rg BT 192.02 430.05 Td (disposal, ) Tj ET Q q 0 0 0 rg BT 229.36 430.05 Td (including ) Tj ET Q q 0 0 0 rg BT 269.19 430.05 Td (the ) Tj ET Q q 0 0 0 rg BT 283.47 430.05 Td (write ) Tj ET Q q 0 0 0 rg BT 306.08 430.05 Td (of) Tj ET Q q 0 0 0 rg BT 314.22 430.05 Td (f ) Tj ET Q q 0 0 0 rg BT 319.62 430.05 Td (of ) Tj ET Q q 0 0 0 rg BT 330.01 430.05 Td (remaining ) Tj ET Q q 0 0 0 rg BT 372.61 430.05 Td (goodwill ) Tj ET Q q 0 0 0 rg BT 410.23 430.05 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.62 430.05 Td ($10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.62 430.05 Td (, ) Tj ET Q q 0 0 0 rg BT 440.18 430.05 Td (after) Tj ET Q q 0 0 0 rg BT 458.29 430.05 Td (-tax, ) Tj ET Q q 0 0 0 rg BT 478.40 430.05 Td (and ) Tj ET Q q 0 0 0 rg BT 494.90 430.05 Td (losses ) Tj ET Q q 0 0 0 rg BT 520.85 430.05 Td (on ) Tj ET Q q 0 0 0 rg BT 532.91 430.05 Td (certain ) Tj ET Q q 0 0 0 rg BT 562.17 430.05 Td (FTC ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 418.05 Td (and ) Tj ET Q q 0 0 0 rg BT 49.13 418.05 Td (FTB ) Tj ET Q q 0 0 0 rg BT 70.66 418.05 Td (assets ) Tj ET Q q 0 0 0 rg BT 97.19 418.05 Td (and ) Tj ET Q q 0 0 0 rg BT 114.82 418.05 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 157.73 418.05 Td (which ) Tj ET Q q 0 0 0 rg BT 185.36 418.05 Td (were ) Tj ET Q q 0 0 0 rg BT 207.98 418.05 Td (not ) Tj ET Q q 0 0 0 rg BT 223.95 418.05 Td (transferred ) Tj ET Q q 0 0 0 rg BT 270.45 418.05 Td (to ) Tj ET Q q 0 0 0 rg BT 281.42 418.05 Td (CenterState ) Tj ET Q q 0 0 0 rg BT 331.26 418.05 Td (Bank. ) Tj ET Q q 0 0 0 rg BT 358.06 418.05 Td (Upon ) Tj ET Q q 0 0 0 rg BT 383.47 418.05 Td (final ) Tj ET Q q 0 0 0 rg BT 404.99 418.05 Td (closing ) Tj ET Q q 0 0 0 rg BT 437.07 418.05 Td (with ) Tj ET Q q 0 0 0 rg BT 458.04 418.05 Td (CBI, ) Tj ET Q q 0 0 0 rg BT 480.40 418.05 Td (the ) Tj ET Q q 0 0 0 rg BT 495.81 418.05 Td (Company ) Tj ET Q q 0 0 0 rg BT 537.89 418.05 Td (recorded ) Tj ET Q q 0 0 0 rg BT 576.06 418.05 Td (a ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 406.05 Td (benefit ) Tj ET Q q 0 0 0 rg BT 61.76 406.05 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 72.59 406.05 Td ($6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 82.59 406.05 Td (, ) Tj ET Q q 0 0 0 rg BT 87.59 406.05 Td (after ) Tj ET Q q 0 0 0 rg BT 108.41 406.05 Td (tax, ) Tj ET Q q 0 0 0 rg BT 125.63 406.05 Td (in ) Tj ET Q q 0 0 0 rg BT 135.90 406.05 Td (the ) Tj ET Q q 0 0 0 rg BT 150.62 406.05 Td (fourth ) Tj ET Q q 0 0 0 rg BT 177.56 406.05 Td (quarter ) Tj ET Q q 0 0 0 rg BT 208.38 406.05 Td (of ) Tj ET Q q 0 0 0 rg BT 219.21 406.05 Td (201) Tj ET Q q 0 0 0 rg BT 233.83 406.05 Td (1 ) Tj ET Q q 0 0 0 rg BT 241.33 406.05 Td (related ) Tj ET Q q 0 0 0 rg BT 271.04 406.05 Td (to ) Tj ET Q q 0 0 0 rg BT 281.31 406.05 Td (the ) Tj ET Q q 0 0 0 rg BT 296.03 406.05 Td (divestiture. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 388.05 Td (In ) Tj ET Q q 0 0 0 rg BT 42.04 388.05 Td (the ) Tj ET Q q 0 0 0 rg BT 56.47 388.05 Td (first ) Tj ET Q q 0 0 0 rg BT 74.79 388.05 Td (quarter ) Tj ET Q q 0 0 0 rg BT 105.32 388.05 Td (of ) Tj ET Q q 0 0 0 rg BT 115.86 388.05 Td (201) Tj ET Q q 0 0 0 rg BT 130.49 388.05 Td (1, ) Tj ET Q q 0 0 0 rg BT 140.20 388.05 Td (the ) Tj ET Q q 0 0 0 rg BT 154.63 388.05 Td (Company ) Tj ET Q q 0 0 0 rg BT 195.73 388.05 Td (completed ) Tj ET Q q 0 0 0 rg BT 239.59 388.05 Td (the ) Tj ET Q q 0 0 0 rg BT 254.02 388.05 Td (sale ) Tj ET Q q 0 0 0 rg BT 271.78 388.05 Td (of ) Tj ET Q q 0 0 0 rg BT 282.32 388.05 Td (its ) Tj ET Q q 0 0 0 rg BT 293.98 388.05 Td (wholly-owned ) Tj ET Q q 0 0 0 rg BT 353.96 388.05 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 397.28 388.05 Td (Specialty ) Tj ET Q q 0 0 0 rg BT 436.71 388.05 Td (Risk ) Tj ET Q q 0 0 0 rg BT 457.26 388.05 Td (Services ) Tj ET Q q 0 0 0 rg BT 493.35 388.05 Td (\(SRS\) ) Tj ET Q q 0 0 0 rg BT 528.89 388.05 Td (and ) Tj ET Q q 0 0 0 rg BT 545.54 388.05 Td (recorded ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 376.05 Td (a ) Tj ET Q q 0 0 0 rg BT 38.83 376.05 Td (net ) Tj ET Q q 0 0 0 rg BT 53.93 376.05 Td (realized ) Tj ET Q q 0 0 0 rg BT 88.46 376.05 Td (capital ) Tj ET Q q 0 0 0 rg BT 118.00 376.05 Td (gain ) Tj ET Q q 0 0 0 rg BT 138.11 376.05 Td (of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 149.33 376.05 Td ($150) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.33 376.05 Td (, ) Tj ET Q q 0 0 0 rg BT 174.72 376.05 Td (after) Tj ET Q q 0 0 0 rg BT 192.84 376.05 Td (-tax. ) Tj ET Q q 0 0 0 rg BT 213.77 376.05 Td (SRS ) Tj ET Q q 0 0 0 rg BT 234.46 376.05 Td (is ) Tj ET Q q 0 0 0 rg BT 244.01 376.05 Td (a ) Tj ET Q q 0 0 0 rg BT 251.34 376.05 Td (third-party ) Tj ET Q q 0 0 0 rg BT 297.00 376.05 Td (claims ) Tj ET Q q 0 0 0 rg BT 325.99 376.05 Td (administration ) Tj ET Q q 0 0 0 rg BT 386.65 376.05 Td (business ) Tj ET Q q 0 0 0 rg BT 423.43 376.05 Td (that ) Tj ET Q q 0 0 0 rg BT 441.31 376.05 Td (provides ) Tj ET Q q 0 0 0 rg BT 478.64 376.05 Td (self-insured, ) Tj ET Q q 0 0 0 rg BT 531.24 376.05 Td (insured, ) Tj ET Q q 0 0 0 rg BT 566.07 376.05 Td (and ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 364.05 Td (alternative ) Tj ET Q q 0 0 0 rg BT 76.20 364.05 Td (market ) Tj ET Q q 0 0 0 rg BT 106.46 364.05 Td (clients ) Tj ET Q q 0 0 0 rg BT 135.06 364.05 Td (with ) Tj ET Q q 0 0 0 rg BT 155.34 364.05 Td (customized ) Tj ET Q q 0 0 0 rg BT 203.38 364.05 Td (claims ) Tj ET Q q 0 0 0 rg BT 231.99 364.05 Td (services.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 346.05 Td (The ) Tj ET Q q 0 0 0 rg BT 49.55 346.05 Td (following ) Tj ET Q q 0 0 0 rg BT 90.93 346.05 Td (table ) Tj ET Q q 0 0 0 rg BT 112.87 346.05 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 163.13 346.05 Td (the ) Tj ET Q q 0 0 0 rg BT 177.85 346.05 Td (amounts ) Tj ET Q q 0 0 0 rg BT 214.23 346.05 Td (related ) Tj ET Q q 0 0 0 rg BT 243.94 346.05 Td (to ) Tj ET Q q 0 0 0 rg BT 254.21 346.05 Td (discontinued ) Tj ET Q q 0 0 0 rg BT 307.82 346.05 Td (operations ) Tj ET Q q 0 0 0 rg BT 351.97 346.05 Td (in ) Tj ET Q q 0 0 0 rg BT 362.25 346.05 Td (the ) Tj ET Q q 0 0 0 rg BT 376.97 346.05 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 432.24 346.05 Td (Statements ) Tj ET Q q 0 0 0 rg BT 478.62 346.05 Td (of ) Tj ET Q q 0 0 0 rg BT 489.45 346.05 Td (Operations.) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 305.55 405.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 305.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 305.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 305.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 281.55 405.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 281.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 281.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 281.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 257.55 405.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 257.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 257.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 257.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 233.55 405.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 233.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 233.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 233.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 209.55 405.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 209.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 209.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 209.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 185.55 405.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 185.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 185.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 185.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 161.55 405.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 161.55 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 161.55 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 161.55 48.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 134.55 405.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 134.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 134.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 134.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 110.55 405.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 110.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 110.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 110.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 86.55 405.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 86.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 86.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 86.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 62.55 405.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 437.00 62.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 485.00 62.55 48.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 533.00 62.55 48.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 320.54999999999995 m 485 320.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 320.54999999999995 m 533 320.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533 320.54999999999995 m 581 320.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 305.54999999999995 m 437 305.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 305.54999999999995 m 485 305.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 305.54999999999995 m 533 305.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 533 305.54999999999995 m 581 305.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 221.54999999999995 m 437 221.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 221.54999999999995 m 485 221.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 221.54999999999995 m 533 221.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533 221.54999999999995 m 581 221.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 197.54999999999995 m 437 197.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 197.54999999999995 m 437 197.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 197.54999999999995 m 485 197.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 197.54999999999995 m 533 197.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 533 197.54999999999995 m 581 197.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 122.54999999999995 m 437 122.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 122.54999999999995 m 485 122.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 122.54999999999995 m 533 122.54999999999995 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533 122.54999999999995 m 581 122.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 86.54999999999995 m 437 86.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 86.54999999999995 m 485 86.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 86.54999999999995 m 533 86.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 533 86.54999999999995 m 581 86.54999999999995 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 62.549999999999955 m 437 62.549999999999955 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 50.549999999999955 m 437 50.549999999999955 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 437 62.549999999999955 m 485 62.549999999999955 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 437 50.549999999999955 m 485 50.549999999999955 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 485 62.549999999999955 m 533 62.549999999999955 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485 50.549999999999955 m 533 50.549999999999955 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 533 62.549999999999955 m 581 62.549999999999955 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 533 50.549999999999955 m 581 50.549999999999955 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 325.22 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 443.15 325.00 Td (For the years ended December 31,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 310.22 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 451.50 310.00 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 499.50 310.00 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 547.70 310.00 Td (2011) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.50 296.28 Td (Revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 284.17 Td (Earned premiums) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 439.50 284.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 284.17 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 487.50 284.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 284.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 535.50 284.17 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 284.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 272.17 Td (Fee income and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 272.17 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 272.17 Td (46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 272.17 Td (50) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 260.17 Td (Net investment income \(loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 248.17 Td ( Securities available-for-sale and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.80 248.17 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.15 248.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 248.17 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 248.17 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 236.17 Td ( Equity securities, trading) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 236.17 Td (140) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 236.17 Td (201) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 236.17 Td (\(14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 236.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 224.17 Td (Total Net Investment Income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 224.17 Td (137) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 224.17 Td (211) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 224.17 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 212.17 Td (Net realized capital losses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.80 212.17 Td (\(49) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.15 212.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 212.17 Td (33) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 212.17 Td (75) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 200.17 Td (Other revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.15 200.28 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.15 200.28 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 567.15 200.28 Td (48) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 188.28 Td (Total revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 466.15 188.28 Td (105) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.15 188.28 Td (290) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 188.28 Td (185) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.50 176.28 Td (Benefits, losses and expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 164.17 Td (Benefits, losses and loss adjustment expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 164.17 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 164.17 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 164.17 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 164.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 151.22 Td (Benefits, losses and loss adjustment expenses - returns credited on international variable annuities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 152.12 Td (140) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 514.15 152.12 Td (201) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 563.80 152.12 Td (\(14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 152.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 137.17 Td (Amortization of DAC) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 137.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 137.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 137.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 125.17 Td (Insurance operating costs and other expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 471.15 125.17 Td (23) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.15 125.17 Td (39) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 125.17 Td (95) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 113.28 Td (Total benefits, losses and expenses) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 466.15 113.28 Td (165) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 514.15 113.28 Td (242) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 567.15 113.28 Td (79) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 101.28 Td (Income \(loss\)before income taxes) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.80 101.33 Td (\(60) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 481.15 101.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.15 101.28 Td (48) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 101.28 Td (106) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 89.17 Td (Income tax expense \(benefit\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.80 89.17 Td (\(28) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.15 89.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 515.80 89.17 Td (\(15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 89.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 89.17 Td (49) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 77.28 Td (Income \(loss\)from operations of discontinued operations, net of tax) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 467.80 77.33 Td (\(32) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 481.15 77.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.15 77.28 Td (63) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 567.15 77.28 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 65.17 Td (Net realized capital gain \(loss\) on disposal, net of tax [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.80 65.17 Td (\(102) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.15 65.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.80 65.17 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 529.15 65.17 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 65.17 Td (82) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 53.28 Td (Income \(loss\)from discontinued operations, net of tax) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 439.50 53.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 462.80 53.33 Td (\(134) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 481.15 53.28 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 487.50 53.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 519.15 53.28 Td (62) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 535.50 53.28 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 562.15 53.28 Td (139) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 40.25 Td ([1] Includes an income tax benefit of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 166.72 40.25 Td ($219) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 184.72 40.25 Td ( on the sale of HLIL) Tj ET Q q 0 0 0 rg BT 256.81 40.25 Td ( for the year ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 327.04 40.25 Td (December31, 2013) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 397.77 40.25 Td (.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 32.00 774.00 Td (T) Tj ET Q q 0 0 0 rg BT 36.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 169.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 215.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 308.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 330.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 398.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 140.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 176.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 183.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 253.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 332.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 346.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 353.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 731.80 Td (19. Stock Compensation Plans \(continued\)) Tj ET Q endstream endobj 475 0 obj <> endobj 476 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.05 20.10 Td (F-101) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 31.50 712.60 Td (21) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 42.50 712.60 Td (. ) Tj ET Q q 0 0 0 rg BT 48.00 712.60 Td (Restructuring ) Tj ET Q q 0 0 0 rg BT 116.74 712.60 Td (and ) Tj ET Q q 0 0 0 rg BT 137.22 712.60 Td (Other) Tj ET Q q 0 0 0 rg BT 165.13 712.60 Td ( ) Tj ET Q q 0 0 0 rg BT 167.88 712.60 Td (Costs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 694.60 Td (As a result of a strategic business realignment announced in 2012, the Company is currently focusing on its Property & Casualty) Tj ET Q q 0 0 0 rg BT 545.47 694.60 Td (, Group ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 682.60 Td (Benefits and Mutual Fund businesses. In addition, the Company implemented restructuring activities in 201) Tj ET Q q 0 0 0 rg BT 464.95 682.60 Td (1 across several areas aimed ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 670.60 Td (at reducing overall expense levels. ) Tj ET Q q 0 0 0 rg BT 174.32 670.60 Td (The Company intends to substantially complete the related restructuring activities over the next ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.93 670.60 Td (24) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.93 670.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 658.60 Td (months. For related discussion of the Company's business disposition transactions, see Note 2 - Business Dispositions of Notes to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 646.60 Td (Consolidated Financial Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 628.60 Td (T) Tj ET Q q 0 0 0 rg BT 36.91 628.60 Td (ermination benefits related to workforce reductions and lease and other contract terminations have been accrued through ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.16 628.60 Td (December31, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 616.60 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 616.60 Td (. ) Tj ET Q q 0 0 0 rg BT 58.45 616.60 Td (Additional costs, mainly severance benefits and other related costs and professional fees, expected to be incurred subsequent to ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 604.60 Td (December 31, 2013, and asset impairment char) Tj ET Q q 0 0 0 rg BT 219.59 604.60 Td (ges, if any) Tj ET Q q 0 0 0 rg BT 260.31 604.60 Td (, will be expensed in the period incurred as appropriate. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 586.60 Td (In 2013, the Company initiated a plan to consolidate its real estate operations in Connecticut, including the intention to exit certain ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 574.60 Td (facilities and relocate employees. ) Tj ET Q q 0 0 0 rg BT 167.09 574.60 Td (The consolidation of real estate in Connecticut is consistent with the Company's strategic business ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 562.60 Td (realignment and follows the completion of sales of the Retirement Plans and Individual Life businesses. ) Tj ET Q q 0 0 0 rg BT 449.19 562.60 Td (Asset related char) Tj ET Q q 0 0 0 rg BT 520.64 562.60 Td (ges will be ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 550.60 Td (incurred over the remaining estimated useful life of facilities, and relocation and other maintenance char) Tj ET Q q 0 0 0 rg BT 448.64 550.60 Td (ges will be recognized as ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 538.60 Td (incurred. ) Tj ET Q q 0 0 0 rg BT 69.63 538.60 Td (The program costs will be recognized in the Corporate category for segment reporting.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 520.60 Td (Restructuring and other costs of approximately ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.01 520.60 Td ($291) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 242.01 520.60 Td (, before tax have been incurred by the Company to date in connection with these ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 508.60 Td (activities. ) Tj ET Q q 0 0 0 rg BT 74.92 508.60 Td (The Company's estimate of and actual costs incurred for restructuring activities may dif) Tj ET Q q 0 0 0 rg BT 425.32 508.60 Td (fer from its current estimate as the ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 496.60 Td (Company executes on its operational and strategic initiatives. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 478.60 Td (Estimated restructuring and other costs, including costs incurred to date, as of December 31, 2013 are as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 462.10 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 462.10 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 434.10 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 434.10 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 406.10 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 406.10 66.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 378.10 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 378.10 66.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 462.1 m 343 462.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 462.1 m 409 462.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 378.1 m 343 378.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 364.1 m 343 364.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343 378.1 m 409 378.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 364.1 m 409 364.1 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 452.67 Td (Property & Casualty Commercial) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.50 452.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.15 452.67 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 438.67 Td (Consumer Markets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.15 438.67 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 424.67 Td (Group Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.15 424.67 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 410.67 Td (Mutual Funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.15 410.67 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 396.67 Td (Talcott Resolution) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.15 396.67 Td (69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 382.67 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.15 382.67 Td (264) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 368.78 Td (Total estimated restructuring and other costs) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 345.50 368.78 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 390.15 368.78 Td (347) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 346.60 Td (Restructuring and other costs, pre-tax incurred in connection with these activities are as follows:) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 294.10 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 294.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 294.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 294.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 266.10 311.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 266.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 266.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 266.10 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 238.10 311.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.00 238.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 238.10 56.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 238.10 56.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 307.1 m 399 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 307.1 m 455 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 307.1 m 511 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 294.1 m 343 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 294.1 m 399 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 294.1 m 455 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 307.1 m 511 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 294.1 m 511 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 294.1 m 511 294.1 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 238.10000000000002 m 343 238.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 225.10000000000002 m 343 225.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343 238.10000000000002 m 399 238.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 225.10000000000002 m 399 225.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399 238.10000000000002 m 455 238.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 225.10000000000002 m 455 225.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 238.10000000000002 m 511 238.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 225.10000000000002 m 511 225.10000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 359.80 311.55 Td (For the Years Ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 361.50 298.50 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.50 298.50 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.70 298.50 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 284.67 Td (Severance benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.50 284.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.15 284.67 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.50 284.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.15 284.67 Td (148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 284.67 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 284.67 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 270.67 Td (Professional fees) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.15 270.67 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 270.67 Td (44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 270.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 256.67 Td (Asset impairment charges) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.15 256.67 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 256.67 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 256.67 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 242.67 Td (Contract termination and other charges) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.15 242.67 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 242.67 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 502.15 242.67 Td (8) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 228.83 Td (Total restructuring and other costs) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 345.50 228.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 385.15 228.83 Td (67) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 401.50 228.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.15 228.83 Td (199) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.50 228.83 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 497.15 228.83 Td (25) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 207.60 Td (Restructuring and other costs costs, included in insurance operating costs and other expenses in the Consolidated Statements of ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 195.60 Td (Operations for each reporting segment, as well as the Corporate category are as follows:) Tj ET Q 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0.9333333333333333 1 rg /GS0 gs 343.00 80.10 56.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 399.00 80.10 56.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.00 80.10 56.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 157.10000000000002 m 399 157.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 157.10000000000002 m 455 157.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 157.10000000000002 m 511 157.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 146.10000000000002 m 343 146.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 146.10000000000002 m 399 146.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 146.10000000000002 m 455 146.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 146.10000000000002 m 511 146.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 146.10000000000002 m 511 146.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 80.10000000000002 m 511 80.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 80.10000000000002 m 343 80.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 69.10000000000002 m 343 69.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343 80.10000000000002 m 399 80.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 69.10000000000002 m 399 69.10000000000002 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 399 80.10000000000002 m 455 80.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 399 69.10000000000002 m 455 69.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 69.10000000000002 m 511 69.10000000000002 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 359.80 161.55 Td (For the Years Ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 361.50 148.55 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 417.50 148.55 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 473.70 148.55 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 136.72 Td (Property & Casualty Commercial) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 345.50 136.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.15 136.72 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 401.50 136.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 136.72 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 136.72 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 136.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 125.72 Td (Consumer Markets) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.15 125.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 125.72 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 125.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 114.72 Td (Group Benefits) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.15 114.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 114.72 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 114.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 103.72 Td (Mutual Funds) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.15 103.72 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 446.15 103.72 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 103.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 92.72 Td (Talcott Resolution) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.15 92.72 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.15 92.72 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 92.72 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 81.72 Td (Corporate) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 385.15 81.72 Td (64) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.15 81.72 Td (121) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.15 81.72 Td (25) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 70.88 Td (Total restructuring and other costs) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 345.50 70.88 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 385.15 70.88 Td (67) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 401.50 70.88 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 436.15 70.88 Td (199) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.50 70.88 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 497.15 70.88 Td (25) Tj ET Q BT /F2 10.00 Tf ET BT /F2 8.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.39 w 0 i [] 0 d 1 J 1 j 3 M 50 772.93359375 m 106.76171875 772.93359375 l s q 0 0 1 rg BT 50.00 774.00 Td (T) Tj ET Q q 0 0 1 rg BT 54.33 774.00 Td (able of Contents) Tj ET Q BT /F3 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 178.60 762.00 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 762.00 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 762.00 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 762.00 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 762.00 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 750.00 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 750.00 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 750.00 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 750.00 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 750.00 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 750.00 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 750.00 Td (TEMENTS \(continued\)) Tj ET Q BT /F1 9.00 Tf ET endstream endobj 477 0 obj <> endobj 478 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 772.75 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 772.75 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 772.75 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 772.75 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 772.75 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 149.60 760.75 Td (NOTES ) Tj ET Q q 0 0 0 rg BT 185.82 760.75 Td (T) Tj ET Q q 0 0 0 rg BT 192.31 760.75 Td (O CONSOLIDA) Tj ET Q q 0 0 0 rg BT 262.41 760.75 Td (TED FINANCIAL) Tj ET Q q 0 0 0 rg BT 341.59 760.75 Td ( ST) Tj ET Q q 0 0 0 rg BT 355.58 760.75 Td (A) Tj ET Q q 0 0 0 rg BT 362.06 760.75 Td (TEMENTS \(continued\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 741.55 Td (21. ) Tj ET Q q 0 0 0 rg BT 48.50 741.55 Td (Restructuring ) Tj ET Q q 0 0 0 rg BT 117.24 741.55 Td (and ) Tj ET Q q 0 0 0 rg BT 137.72 741.55 Td (Other) Tj ET Q q 0 0 0 rg BT 165.63 741.55 Td ( ) Tj ET Q q 0 0 0 rg BT 168.38 741.55 Td (Costs ) Tj ET Q q 0 0 0 rg BT 196.80 741.55 Td (\(continued\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.05 20.10 Td (F-102) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 713.10 Td (Changes in the accrued restructuring and other costs liability balance included in other liabilities in the Consolidated Balance Sheets are ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 31.50 701.10 Td (as follows: ) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 31.50 627.60 192.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 627.60 62.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 627.60 58.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 627.60 76.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 627.60 75.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 627.60 85.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.50 605.60 192.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 605.60 62.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 605.60 58.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 605.60 76.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 605.60 75.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 605.60 85.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 223.5 670.6 m 285.5 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 670.6 m 343.5 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 670.6 m 419.5 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 670.6 m 494.5 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 670.6 m 579.5 670.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 31.5 638.6 m 223.5 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 223.5 638.6 m 285.5 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 638.6 m 343.5 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 638.6 m 419.5 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 638.6 m 494.5 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 638.6 m 579.5 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 223.5 638.6 m 285.5 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 638.6 m 343.5 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 638.6 m 419.5 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 638.6 m 494.5 638.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 31.5 605.6 m 223.5 605.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31.5 594.6 m 223.5 594.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 223.5 605.6 m 285.5 605.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 594.6 m 285.5 594.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 605.6 m 343.5 605.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 594.6 m 343.5 594.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 605.6 m 419.5 605.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 594.6 m 419.5 594.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 605.6 m 494.5 605.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 594.6 m 494.5 594.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 605.6 m 579.5 605.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 594.6 m 579.5 594.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.35 675.05 Td (For the year ended December 31, 2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 234.50 661.05 Td (Severance) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 230.10 652.05 Td (Benefits and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 227.60 643.05 Td (Related Costs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 290.55 652.05 Td (Professional) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 305.50 643.05 Td (Fees) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 346.85 652.05 Td (Asset impairment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.25 643.05 Td (charges) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.25 661.05 Td (Contract) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.25 652.05 Td (Termination and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.95 643.05 Td (Other Charges) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.50 652.05 Td (Total Restructuring) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.05 643.05 Td (and Other Costs) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.00 629.38 Td (Balance, beginning of period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.00 629.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.65 629.22 Td (70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.00 629.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.65 629.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.00 629.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.65 629.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.00 629.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.65 629.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.00 629.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.65 629.22 Td (70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.00 618.22 Td (Accruals/provisions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.65 618.22 Td (22) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.65 618.22 Td (19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.65 618.22 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.65 618.22 Td (6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.65 618.22 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.00 607.22 Td (Payments/write-offs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.30 607.22 Td (\(70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.65 607.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.30 607.22 Td (\(19) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.65 607.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 402.30 607.22 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.65 607.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 480.65 607.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.30 607.22 Td (\(109) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.65 607.22 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.00 596.38 Td (Balance, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 226.00 596.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 271.65 596.38 Td (22) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 288.00 596.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 329.65 596.38 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.00 596.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.65 596.38 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.00 596.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 485.65 596.38 Td (6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 497.00 596.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 565.65 596.38 Td (28) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 31.50 503.60 192.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 503.60 62.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 503.60 58.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 503.60 76.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 503.60 75.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 503.60 85.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 31.50 481.60 192.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 223.50 481.60 62.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 285.50 481.60 58.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 343.50 481.60 76.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 419.50 481.60 75.00 -11.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.50 481.60 85.00 -11.00 re f /GS0 gs 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 223.5 546.6 m 285.5 546.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 546.6 m 343.5 546.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 546.6 m 419.5 546.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 546.6 m 494.5 546.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 546.6 m 579.5 546.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 31.5 514.6 m 223.5 514.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 223.5 514.6 m 285.5 514.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 285.5 514.6 m 343.5 514.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 343.5 514.6 m 419.5 514.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419.5 514.6 m 494.5 514.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 494.5 514.6 m 579.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 514.6 m 285.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 514.6 m 343.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 514.6 m 419.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 514.6 m 494.5 514.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 514.6 m 579.5 514.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 31.5 481.6 m 223.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 31.5 470.6 m 223.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 481.6 m 285.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 223.5 470.6 m 285.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 481.6 m 343.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 285.5 470.6 m 343.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 481.6 m 419.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343.5 470.6 m 419.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 481.6 m 494.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419.5 470.6 m 494.5 470.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 481.6 m 579.5 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494.5 470.6 m 579.5 470.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 327.35 551.05 Td (For the year ended December 31, 2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 234.50 537.05 Td (Severance) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 230.10 528.05 Td (Benefits and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 227.60 519.05 Td (Related Costs) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 290.55 528.05 Td (Professional) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 305.50 519.05 Td (Fees) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 346.85 528.05 Td (Asset impairment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.25 519.05 Td (charges) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 439.25 537.05 Td (Contract) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 424.25 528.05 Td (Termination and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.95 519.05 Td (Other Charges) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.50 528.05 Td (Total Restructuring) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 505.05 519.05 Td (and Other Costs) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.00 505.38 Td (Balance, beginning of period) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 226.00 505.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 271.65 505.22 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 288.00 505.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.65 505.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.00 505.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 405.65 505.22 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 422.00 505.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.65 505.22 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 497.00 505.22 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.65 505.22 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.00 494.22 Td (Accruals/provisions) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 266.65 494.22 Td (148) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 329.65 494.22 Td (44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.65 494.22 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 485.65 494.22 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 560.65 494.22 Td (199) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.00 483.22 Td (Payments/write-offs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.30 483.22 Td (\(90) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.65 483.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 326.30 483.22 Td (\(44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 339.65 483.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.30 483.22 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.65 483.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.30 483.22 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.65 483.22 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.30 483.22 Td (\(146) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 575.65 483.22 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.00 472.38 Td (Balance, end of period) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 226.00 472.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 271.65 472.38 Td (70) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 288.00 472.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 329.65 472.38 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 346.00 472.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.65 472.38 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 422.00 472.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 480.65 472.38 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 497.00 472.38 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 565.65 472.38 Td (70) Tj ET Q BT /F2 10.00 Tf ET BT /F3 11.00 Tf ET q 0 0 0 rg BT 32.00 433.90 Td (22) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 43.00 433.90 Td (. ) Tj ET Q q 0 0 0 rg BT 48.50 433.90 Td (Quarterly ) Tj ET Q q 0 0 0 rg BT 98.29 433.90 Td (Results ) Tj ET Q q 0 0 0 rg BT 135.26 433.90 Td (\(Unaudited\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.50 379.40 233.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 379.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 379.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 379.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 379.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 379.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 379.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 379.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 379.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.50 342.40 233.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 342.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 342.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 342.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 342.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 342.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 342.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 342.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 342.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.50 305.40 233.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 305.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 305.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 305.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 305.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 305.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 305.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 305.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 305.40 38.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.50 268.40 233.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 268.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 268.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 268.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 268.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 268.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 268.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 268.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 268.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.50 228.40 233.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 228.40 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 228.40 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 228.40 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 228.40 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 228.40 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 228.40 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 228.40 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 228.40 38.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.50 192.40 233.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 265.50 192.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 303.50 192.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 341.50 192.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 379.50 192.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 417.50 192.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 455.50 192.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 493.50 192.40 38.00 -23.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 531.50 192.40 38.00 -23.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 411.4 m 303.5 411.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 411.4 m 341.5 411.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 411.4 m 379.5 411.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 411.4 m 417.5 411.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 411.4 m 455.5 411.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 411.4 m 493.5 411.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 411.4 m 531.5 411.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 411.4 m 569.5 411.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 399.4 m 303.5 399.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 399.4 m 341.5 399.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 399.4 m 379.5 399.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 399.4 m 417.5 399.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 399.4 m 493.5 399.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 399.4 m 531.5 399.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 399.4 m 569.5 399.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32.5 379.4 m 265.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 379.4 m 303.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 379.4 m 341.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 379.4 m 379.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 379.4 m 417.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 399.4 m 455.5 399.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 379.4 m 455.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 399.4 m 493.5 399.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 379.4 m 493.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 379.4 m 531.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 379.4 m 569.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 379.4 m 303.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 379.4 m 341.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 379.4 m 379.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 379.4 m 417.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 379.4 m 493.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 379.4 m 531.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 379.4 m 569.5 379.4 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32.5 169.39999999999998 m 265.5 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 265.5 169.39999999999998 m 303.5 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 303.5 169.39999999999998 m 341.5 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 341.5 169.39999999999998 m 379.5 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 379.5 169.39999999999998 m 417.5 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 417.5 169.39999999999998 m 455.5 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455.5 169.39999999999998 m 493.5 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493.5 169.39999999999998 m 531.5 169.39999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 531.5 169.39999999999998 m 569.5 169.39999999999998 l s BT /F2 9.00 Tf ET q 0 0 0 rg BT 35.00 414.66 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 377.55 414.80 Td (Three months ended) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 35.00 402.66 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 283.30 402.80 Td (March 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 362.95 402.80 Td (June 30,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.55 402.80 Td (September 30,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.80 402.80 Td (December 31,) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 35.00 383.86 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 275.00 383.85 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.00 383.85 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 351.00 383.85 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 389.00 383.85 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.00 383.85 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 465.00 383.85 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.00 383.85 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 541.00 383.85 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 361.07 Td (Revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.00 361.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.10 361.07 Td (9,043) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.00 361.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.10 361.07 Td (7,525) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 361.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.10 361.07 Td (5,465) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.00 361.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.10 361.07 Td (4,565) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.00 361.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.10 361.07 Td (5,641) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.00 361.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.10 361.07 Td (6,332) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.00 361.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.10 361.07 Td (6,087) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.00 361.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.10 361.07 Td (7,700) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 346.97 Td (Benefits, losses and expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.10 346.97 Td (9,480) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.10 346.97 Td (7,544) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.10 346.97 Td (5,685) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.10 346.97 Td (4,839) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.10 346.97 Td (5,298) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.10 346.97 Td (6,380) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.10 346.97 Td (5,710) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.10 346.97 Td (7,940) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 332.97 Td (Income \(loss\)from continuing operations, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.30 333.02 Td (\(240) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.65 332.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.65 332.97 Td (60) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 362.30 333.02 Td (\(64) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 332.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.30 333.02 Td (\(108) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.65 332.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.65 332.97 Td (298) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.30 333.02 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.65 332.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.65 332.97 Td (316) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.30 332.97 Td (\(45) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.65 332.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 310.07 Td (Income \(loss\)from discontinued operations, net of tax) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 291.30 310.12 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.65 310.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.65 310.07 Td (36) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.30 310.12 Td (\(126) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 310.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 408.65 310.07 Td (7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.30 310.12 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 451.65 310.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 310.07 Td (20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.30 310.12 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 527.65 310.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 557.30 310.07 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.65 310.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 295.97 Td (Net income \(loss\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.30 296.02 Td (\(241) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.65 295.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.65 295.97 Td (96) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.30 296.02 Td (\(190) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 295.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.30 296.02 Td (\(101) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.65 295.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.65 295.97 Td (293) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 295.97 Td (13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.65 295.97 Td (314) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.30 295.97 Td (\(46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.65 295.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 281.97 Td (Less: Preferred stock dividends and accretion of) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 271.97 Td (discount) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.65 273.07 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.65 273.07 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 365.65 273.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 403.65 273.07 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.65 273.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 479.65 273.07 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.65 273.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 555.65 273.07 Td (11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 250.07 Td (Net income \(loss\)available to common shareholders [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.00 250.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 281.30 250.12 Td (\(251) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.65 250.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.00 250.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 327.65 250.07 Td (86) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 250.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 357.30 250.12 Td (\(190) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 250.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.00 250.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.30 250.12 Td (\(112) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.65 250.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.00 250.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 436.65 250.07 Td (293) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.00 250.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 250.07 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.00 250.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 512.65 250.07 Td (314) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.00 250.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.30 250.07 Td (\(57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.65 250.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 233.07 Td (Basic earnings \(losses\)per common share) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.00 233.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.80 233.12 Td (\(0.58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.65 233.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.00 233.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.10 233.07 Td (0.20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 233.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.80 233.12 Td (\(0.42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 233.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.00 233.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.80 233.12 Td (\(0.26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.65 233.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.00 233.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.10 233.07 Td (0.65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.00 233.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.10 233.07 Td (0.01) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.00 233.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.10 233.07 Td (0.70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.00 233.07 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.80 233.07 Td (\(0.13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.65 233.07 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 218.97 Td (Diluted earnings \(losses\)per common share [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 268.00 218.97 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 278.80 219.02 Td (\(0.58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.65 218.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 306.00 218.97 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 320.10 218.97 Td (0.18) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 344.00 218.97 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 354.80 219.02 Td (\(0.42) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.65 218.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 382.00 218.97 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 392.80 219.02 Td (\(0.26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 413.65 218.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 420.00 218.97 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 434.10 218.97 Td (0.60) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.00 218.97 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.10 218.97 Td (0.01) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 496.00 218.97 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 510.10 218.97 Td (0.65) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 534.00 218.97 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 544.80 218.97 Td (\(0.13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.65 218.97 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 197.07 Td (Weighted average common shares outstanding, basic) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.10 197.07 Td (436.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.10 197.07 Td (440.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.10 197.07 Td (451.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.10 197.07 Td (438.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.10 197.07 Td (452.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.10 197.07 Td (435.8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.10 197.07 Td (451.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.10 197.07 Td (436.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 182.97 Td (Weighted average shares outstanding and dilutive) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 35.00 172.97 Td (potential common shares) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 277.10 174.07 Td (436.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 315.10 174.07 Td (469.0) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 353.10 174.07 Td (451.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.10 174.07 Td (438.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 429.10 174.07 Td (490.6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.10 174.07 Td (461.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 505.10 174.07 Td (486.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 543.10 174.07 Td (436.2) Tj ET Q BT /F2 10.00 Tf ET BT /F4 9.00 Tf ET q 0 0 0 rg BT 32.00 154.10 Td ([1] In periods of a net loss available to common shar) Tj ET Q q 0 0 0 rg BT 225.91 154.10 Td (eholders, the Company uses basic weighted average common shar) Tj ET Q q 0 0 0 rg BT 464.79 154.10 Td (es outstanding in the ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 50.00 143.30 Td (calculation of diluted loss per common shar) Tj ET Q q 0 0 0 rg BT 208.15 143.30 Td (e, since the inclusion of shar) Tj ET Q q 0 0 0 rg BT 310.81 143.30 Td (es for warrants, stock compensation plans and the assumed conversion of ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 50.00 132.50 Td (the pr) Tj ET Q q 0 0 0 rg BT 70.91 132.50 Td (eferr) Tj ET Q q 0 0 0 rg BT 88.07 132.50 Td (ed shar) Tj ET Q q 0 0 0 rg BT 114.49 132.50 Td (es to common would have been antidilutive to the earnings \(loss\) per common shar) Tj ET Q q 0 0 0 rg BT 413.36 132.50 Td (e calculation. In the absence of the net loss ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 50.00 121.70 Td (available to common shar) Tj ET Q q 0 0 0 rg BT 143.41 121.70 Td (eholders, weighted average common shar) Tj ET Q q 0 0 0 rg BT 293.29 121.70 Td (es outstanding and dilutive potential common shar) Tj ET Q q 0 0 0 rg BT 475.45 121.70 Td (es would have totaled ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 555.93 121.70 Td (485.8 ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 50.00 110.90 Td (million) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 75.50 110.90 Td ( , ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 82.25 110.90 Td (488.9 million) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 130.25 110.90 Td (, ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 134.75 110.90 Td (493.1 million) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 182.75 110.90 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 200.75 110.90 Td (489.0 million) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 248.76 110.90 Td ( for the thr) Tj ET Q q 0 0 0 rg BT 287.17 110.90 Td (ee months ended June 30, 2012, December 31, 2012, Mar) Tj ET Q q 0 0 0 rg BT 495.04 110.90 Td (ch 31, 2013 and June ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 50.00 100.10 Td (30, 2013, r) Tj ET Q q 0 0 0 rg BT 89.17 100.10 Td (espectively) Tj ET Q q 0 0 0 rg BT 128.14 100.10 Td (. In addition, assuming the impact of mandatory convertible pr) Tj ET Q q 0 0 0 rg BT 354.04 100.10 Td (eferr) Tj ET Q q 0 0 0 rg BT 371.20 100.10 Td (ed shar) Tj ET Q q 0 0 0 rg BT 397.61 100.10 Td (es was not antidilutive, weighted average common ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 50.00 89.30 Td (shar) Tj ET Q q 0 0 0 rg BT 65.67 89.30 Td (es outstanding and dilutive potential common shar) Tj ET Q q 0 0 0 rg BT 247.82 89.30 Td (es would have totaled ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 328.31 89.30 Td (489.9 million) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 376.31 89.30 Td ( and ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 394.31 89.30 Td (482.7 million) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 442.31 89.30 Td ( for the thr) Tj ET Q q 0 0 0 rg BT 480.73 89.30 Td (ee months ended ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 50.00 78.50 Td (Mar) Tj ET Q q 0 0 0 rg BT 65.17 78.50 Td (ch31, 2012 and September 30, 2012, r) Tj ET Q q 0 0 0 rg BT 204.81 78.50 Td (espectively) Tj ET Q q 0 0 0 rg BT 243.79 78.50 Td (.) Tj ET Q endstream endobj 479 0 obj <> endobj 480 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.05 20.10 Td (S-1) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 713.25 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 713.25 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 713.25 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 713.25 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 713.25 Td (, INC.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 275.25 695.25 Td (SCHEDULE I) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 117.80 683.25 Td (SUMMAR) Tj ET Q q 0 0 0 rg BT 163.55 683.25 Td (Y) Tj ET Q q 0 0 0 rg BT 170.40 683.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 186.42 683.25 Td ( INVESTMENTS OTHER ) Tj ET Q q 0 0 0 rg BT 315.15 683.25 Td (THAN INVESTMENTS IN ) Tj ET Q q 0 0 0 rg BT 434.90 683.25 Td (AFFILIA) Tj ET Q q 0 0 0 rg BT 475.28 683.25 Td (TES) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 283.60 672.45 Td (\(In millions\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 613.95 312.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 613.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 613.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 613.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 585.95 312.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 585.95 79.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 585.95 79.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 585.95 79.00 -24.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 547.95 312.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 547.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 547.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 547.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 519.95 312.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 519.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 519.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 519.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 491.95 312.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 491.95 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 491.95 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 491.95 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 464.95 312.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 464.95 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 464.95 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 464.95 79.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 437.95 312.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 437.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 437.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 437.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 409.95 312.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 409.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 409.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 409.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 382.95 312.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 382.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 382.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 382.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 355.95 312.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 355.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 355.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 355.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 327.95 312.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.00 327.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 423.00 327.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 502.00 327.95 79.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 299.95 312.00 -14.00 re f /GS0 gs 0.8 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rg BT 457.50 512.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.65 512.68 Td (26,558) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 513.50 512.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.65 512.68 Td (30,901) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 34.50 500.68 Td (Liabilities and Stockholders Equity) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 488.57 Td (Net payable to affiliates [1]) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 457.50 488.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 488.57 Td (407) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 513.50 488.57 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 488.57 Td (267) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 476.57 Td (Short-term debt \(includes current maturities of long-term debt\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 492.15 476.57 Td (200) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 476.57 Td (320) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 464.57 Td (Long-term debt) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 464.57 Td (5,964) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 464.57 Td (6,566) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 40.50 452.57 Td (Other liabilities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.65 452.57 Td (1,082) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 554.65 452.57 Td (1,301) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 440.68 Td (Total liabilities) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 484.65 440.68 Td (7,653) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 440.68 Td (8,454) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 428.68 Td (Total stockholders equity) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.65 428.68 Td (18,905) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.65 428.68 Td (22,447) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 416.68 Td (Total liabilities and stockholders equity) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 457.50 416.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 479.65 416.68 Td (26,558) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 513.50 416.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 549.65 416.68 Td (30,901) Tj ET Q BT /F2 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 375.95 396.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 375.95 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 375.95 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.00 375.95 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 347.95 396.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 347.95 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 347.95 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.00 347.95 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 319.95 396.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 319.95 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 319.95 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.00 319.95 51.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 292.95 396.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 292.95 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 292.95 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.00 292.95 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 265.95 396.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 265.95 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 265.95 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.00 265.95 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 238.95 396.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 428.00 238.95 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 479.00 238.95 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 530.00 238.95 51.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 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109.95000000000005 m 530 109.95000000000005 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 530 123.95000000000005 m 581 123.95000000000005 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 530 109.95000000000005 m 581 109.95000000000005 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 394.63 Td () Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 438.65 394.40 Td (For the years ended December 31,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 34.50 380.40 Td (Condensed Statements of Operations and Comprehensive Income) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 444.00 380.40 Td (2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 495.00 380.40 Td (2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 546.20 380.40 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 366.52 Td (Net investment income) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 430.50 366.52 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 465.15 366.52 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 481.50 366.52 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 521.15 366.52 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 532.50 366.52 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 366.52 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 352.52 Td (Net realized capital losses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.80 352.57 Td (\(7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 475.15 352.52 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 517.80 352.57 Td (\(6) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.15 352.52 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 568.80 352.52 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 577.15 352.52 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 40.50 338.63 Td (Total revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.15 338.63 Td (3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 517.80 338.68 Td (\(3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 526.15 338.63 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 568.80 338.63 Td (\(3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 577.15 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0 0 0 rg BT 552.86 75.05 Td (, an ) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 49.50 64.25 Td (indir) Tj ET Q q 0 0 0 rg BT 66.67 64.25 Td (ect wholly-owned subsidiary of the Company) Tj ET Q q 0 0 0 rg BT 228.40 64.25 Td (. ) Tj ET Q q 0 0 0 rg BT 234.99 64.25 Td (As of December 31, 2013, WRR has borr) Tj ET Q q 0 0 0 rg BT 381.88 64.25 Td (owed $655 under this inter) Tj ET Q q 0 0 0 rg BT 478.55 64.25 Td (company note agr) Tj ET Q q 0 0 0 rg BT 543.20 64.25 Td (eement.) 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10.00 Tf ET q 0 0 0 rg BT 358.15 372.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 437.15 372.07 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.65 372.07 Td (1,850) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 372.07 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 358.23 Td (Consolidated) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 227.65 358.23 Td (18,275) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 288.65 358.23 Td (8,591) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 340.65 358.23 Td (17,611) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 424.65 358.23 Td (1,988) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 490.65 358.23 Td (7,104) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 554.65 358.23 Td (9,847) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 339.18 Td (For the year ended December 31, 2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 204.50 339.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 325.07 Td (Property & Casualty Commercial) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 232.65 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(einsurance loss on disposition.) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 31.50 190.45 Td ([2] ) Tj ET Q q 0 0 0 rg BT 49.50 190.45 Td (Excludes life insurance pursuant to Regulation S-X.) Tj ET Q endstream endobj 489 0 obj <> endobj 490 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 299.05 20.60 Td (S-6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 731.25 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 731.25 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 731.25 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 731.25 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 731.25 Td (, INC.) 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386.15 565.52 Td (1,718) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.65 565.52 Td (80) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 565.52 Td (4,544) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.00 565.52 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.65 565.52 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 551.52 Td (Accident and health insurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 551.52 Td (1,616) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.65 551.52 Td (62) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.65 551.52 Td (58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 551.52 Td (1,612) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.00 551.52 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.65 551.52 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 65.00 537.68 Td (Total insurance revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.00 537.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 325.15 537.68 Td (18,292) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg 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501.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 320.15 501.68 Td (946,160) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.00 501.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 376.15 501.68 Td (137,719) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.00 501.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 437.15 501.68 Td (48,032) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.00 501.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 488.15 501.68 Td (856,473) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 565.00 501.68 Td (6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.00 501.68 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 41.00 488.63 Td (Insurance revenues) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 474.52 Td (Property and casualty insurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.00 474.52 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 325.15 474.52 Td (10,484) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.65 474.52 Td (796) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.65 474.52 Td (205) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 474.52 Td (9,893) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.00 474.52 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.65 474.52 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 460.52 Td (Life insurance and annuities) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 460.52 Td (6,572) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.65 460.52 Td (458) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.65 460.52 Td (69) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 460.52 Td (6,183) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.00 460.52 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.65 460.52 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 446.52 Td (Accident and health insurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 330.15 446.52 Td (1,928) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 398.65 446.52 Td (66) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.65 446.52 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 498.15 446.52 Td (1,930) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 565.00 446.52 Td (4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 571.65 446.52 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 65.00 432.68 Td (Total insurance revenues) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 303.00 432.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 325.15 432.68 Td (18,984) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 359.00 432.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 386.15 432.68 Td (1,320) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 415.00 432.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 449.65 432.68 Td (342) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 471.00 432.68 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.15 432.68 Td (18,006) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 565.00 432.68 Td (2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 570.00 432.68 Td (%) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 35.00 410.63 Td (For the year ended December 31, 2011) Tj ET Q BT /F2 10.00 Tf ET q 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Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 273.80 695.25 Td (SCHEDULE ) Tj ET Q q 0 0 0 rg BT 331.13 695.25 Td (V) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 201.85 683.25 Td (V) Tj ET Q q 0 0 0 rg BT 207.78 683.25 Td (ALUA) Tj ET Q q 0 0 0 rg BT 235.38 683.25 Td (TION ) Tj ET Q q 0 0 0 rg BT 262.89 683.25 Td (AND QUALIFYING ) Tj ET Q q 0 0 0 rg BT 354.00 683.25 Td (ACCOUNTS) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 281.10 671.25 Td (\(In millions\)) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 628.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 628.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 628.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 628.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 628.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 628.75 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 598.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 598.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 598.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 598.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 598.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 598.75 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 568.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 568.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 568.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 568.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 568.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 568.75 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 539.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 539.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 539.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 539.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 539.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 539.75 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 509.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 509.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 509.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 509.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 509.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 509.75 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 479.75 220.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 479.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 479.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 479.75 60.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 479.75 56.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 479.75 101.00 -14.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 450.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 450.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 450.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 450.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 450.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 450.75 101.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 32.00 420.75 220.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 252.00 420.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 308.00 420.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 364.00 420.75 60.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 424.00 420.75 56.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.00 420.75 101.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 628.75 m 308 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308 628.75 m 364 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 628.75 m 424 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 628.75 m 480 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 628.75 m 581 628.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 553.75 m 252 553.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 553.75 m 308 553.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308 553.75 m 364 553.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 553.75 m 424 553.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 553.75 m 480 553.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 553.75 m 581 553.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 479.75 m 252 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 479.75 m 308 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308 479.75 m 364 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 479.75 m 424 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 479.75 m 480 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 479.75 m 581 479.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 32 405.75 m 252 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 405.75 m 308 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 308 405.75 m 364 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 364 405.75 m 424 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 405.75 m 480 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480 405.75 m 581 405.75 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 264.25 642.20 Td (Balance) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 258.95 633.20 Td (January 1,) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 313.85 651.20 Td (Charged to) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 316.60 642.20 Td (Costs and) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.70 633.20 Td (Expenses) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.30 642.20 Td (T) Tj ET Q q 0 0 0 rg BT 376.63 642.20 Td (ranslation) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 370.70 633.20 Td (Adjustment) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 430.55 651.20 Td (W) Tj ET Q q 0 0 0 rg BT 439.39 651.20 Td (rite-offs/) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.50 642.20 Td (Payments/) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 440.05 633.20 Td (Other) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 514.75 642.20 Td (Balance) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 503.80 633.20 Td (December) Tj ET Q q 0 0 0 rg BT 542.61 633.20 Td ( 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 618.43 Td (2013) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.50 618.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.50 618.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.50 618.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.50 618.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.50 618.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 603.42 Td (Allowance for doubtful accounts and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.50 603.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 603.42 Td (117) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.50 603.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.15 603.42 Td (56) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.50 603.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 603.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.50 603.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.80 603.47 Td (\(48) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 603.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.50 603.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 603.42 Td (125) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 588.42 Td (Allowance for uncollectible reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 588.42 Td (268) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.80 588.47 Td (\(1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 588.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 415.15 588.42 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.80 588.47 Td (\(25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 588.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 588.42 Td (244) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 573.42 Td (Valuation allowance on mortgage loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 573.42 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.15 573.42 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 573.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.80 573.47 Td (\(3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 573.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 573.42 Td (67) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 558.42 Td (Valuation allowance for deferred taxes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 558.42 Td (58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 351.80 558.47 Td (\(2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 558.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 558.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.80 558.47 Td (\(52) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 558.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 572.15 558.42 Td (4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 544.43 Td (2012) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 529.42 Td (Allowance for doubtful accounts and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.50 529.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 529.42 Td (119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.50 529.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.15 529.42 Td (44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.50 529.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 529.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.50 529.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.80 529.47 Td (\(46) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 529.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.50 529.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 529.42 Td (117) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 514.42 Td (Allowance for uncollectible reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 514.42 Td (290) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.15 514.42 Td (10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 514.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.80 514.47 Td (\(32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 514.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 514.42 Td (268) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 499.42 Td (Valuation allowance on mortgage loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 499.42 Td (102) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.80 499.47 Td (\(14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 499.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 499.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.80 499.47 Td (\(20) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 499.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 499.42 Td (68) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 484.42 Td (Valuation allowance for deferred taxes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 294.15 484.42 Td (83) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.80 484.47 Td (\(25) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 484.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 484.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 484.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 484.42 Td (58) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 34.50 470.43 Td (2011) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 455.42 Td (Allowance for doubtful accounts and other) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.50 455.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 455.42 Td (119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 310.50 455.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.15 455.42 Td (45) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 366.50 455.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 455.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 426.50 455.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.80 455.47 Td (\(45) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 455.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 482.50 455.42 Td ($) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 455.42 Td (119) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 440.42 Td (Allowance for uncollectible reinsurance) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 440.42 Td (290) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 355.15 440.42 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 440.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 467.80 440.47 Td (\(5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 440.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 440.42 Td (290) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 425.42 Td (Valuation allowance on mortgage loans) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 425.42 Td (155) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 350.15 425.42 Td (26) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 425.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 462.80 425.47 Td (\(79) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 476.15 425.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 562.15 425.42 Td (102) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 410.42 Td (Valuation allowance for deferred taxes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.15 410.42 Td (165) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 346.80 410.47 Td (\(82) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 360.15 410.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 410.15 410.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.15 410.42 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 567.15 410.42 Td (83) Tj ET Q BT /F2 10.00 Tf ET BT /F3 10.00 Tf ET q 0 0 0 rg BT 178.60 384.25 Td (THE HAR) Tj ET Q q 0 0 0 rg BT 224.09 384.25 Td (TFORD FINANCIAL) Tj ET Q q 0 0 0 rg BT 317.71 384.25 Td ( SER) Tj ET Q q 0 0 0 rg BT 339.31 384.25 Td (VICES GROUP) Tj ET Q q 0 0 0 rg BT 407.56 384.25 Td (, INC.) 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Mikells) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 170.50 429.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.50 429.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.50 429.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 429.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 411.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.50 411.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.50 411.17 Td (*) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 170.50 411.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.50 411.17 Td (Director) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.50 411.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.20 411.17 Td (February 28, 2014) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 34.50 403.41 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 62.50 403.41 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 170.50 403.41 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 174.50 403.41 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 419.50 403.41 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 423.50 403.41 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 393.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.50 393.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.50 393.17 Td (Michael G. Morris) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 170.50 393.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.50 393.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.50 393.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 393.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 375.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.50 375.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.50 375.17 Td (*) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 170.50 375.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.50 375.17 Td (Director) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.50 375.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.20 375.17 Td (February 28, 2014) Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 34.50 367.41 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 62.50 367.41 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 170.50 367.41 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 174.50 367.41 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 419.50 367.41 Td () Tj ET Q BT /F2 1.00 Tf ET q 0 0 0 rg BT 423.50 367.41 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 357.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.50 357.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.50 357.17 Td (Thomas A. Renyi) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 170.50 357.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.50 357.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.50 357.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.50 357.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 34.50 339.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 62.50 339.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.50 339.17 Td (*) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 170.50 339.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 174.50 339.17 Td (Director) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 419.50 339.17 Td () Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 445.20 339.17 Td (February 28, 2014) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 66.50 321.17 Td (Julie G. 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Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 610.95 m 422 610.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 422 610.95 m 478 610.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478 610.95 m 517 610.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517 610.95 m 569 610.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 583.95 m 69 583.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 69 583.95 m 386 583.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 386 583.95 m 422 583.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 422 583.95 m 478 583.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 478 583.95 m 517 583.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 517 583.95 m 569 583.95 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 422 583.95 m 478 583.95 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 425.30 615.40 Td (Incorporated by Reference) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 35.70 597.40 Td (Exhibit) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 43.35 588.40 Td (No.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 71.50 588.40 Td (Description) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 392.75 588.40 Td (Form) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 434.50 588.40 Td (File No.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.70 597.40 Td (Exhibit) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 490.35 588.40 Td (No.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.10 588.40 Td (Filing Date) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 575.35 Td (2.01) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 574.52 Td (Purchase and Sale Agreement by and among Massachusetts Mutual Life) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 564.52 Td (Insurance Company, Hartford Life, Inc. and The Hartford Financial Services) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 554.52 Td (Group, Inc. \("The Hartford"\) dated as of September 4, 2012.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.20 574.52 Td (10-Q) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 574.52 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.25 574.52 Td (2.01) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.90 574.52 Td (11/01/2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 540.35 Td (2.02) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 539.52 Td (Purchase and Sale Agreement by and among Hartford Life, Inc., Prudential) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 529.52 Td (Financial, Inc. and The Hartford dated as of September 27, 2012.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 393.20 539.52 Td (10-Q) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 539.52 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.25 539.52 Td (2.02) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.90 539.52 Td (11/01/2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 515.35 Td (3.01) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 513.62 Td (Amended and Restated Certificate of Incorporation of The Hartford, \(as) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 503.62 Td (amended by the Certificate of Elimination of the SeriesB Non-Voting) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 493.62 Td (Contingent Convertible Preferred Stock, Series C Non-Voting Contingent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 483.62 Td (Convertible Preferred Stock, and 7.25% Mandatory Convertible Preferred) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 473.62 Td (Stock, Series F of the Hartford, dated September 20, 2013\).**) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 460.35 Td (3.02) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 459.52 Td (Amended and Restated By-Laws of The Hartford, amended effective) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 449.52 Td (September 20, 2012.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.70 459.52 Td (8-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 459.52 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.75 459.52 Td (3.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.70 459.52 Td (09/21/2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 425.35 Td (4.01) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 424.52 Td (Amended and Restated Certificate of Incorporation of The Hartford \(filed as) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 414.52 Td (an exhibit to this report as indicated in Exhibit 3.01 hereto\).) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 390.35 Td (4.02) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 389.52 Td (Amended and Restated By-Laws of The Hartford, amended effective) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 379.52 Td (September 20, 2012.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.70 389.52 Td (8-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 389.52 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.75 389.52 Td (3.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.70 389.52 Td (09/21/2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 355.35 Td (4.03) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 354.52 Td (Senior Indenture, dated as of October20, 1995, between The Hartford and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 344.52 Td (The Chase Manhattan Bank \(National Association\) as Trustee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.55 354.52 Td (S-3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.30 354.52 Td (333-103915) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.25 354.52 Td (4.03) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.70 354.52 Td (03/19/2003) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 320.35 Td (4.04) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 318.62 Td (Supplemental Indenture No.1, dated as of December27, 2000, to the Senior) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 308.62 Td (Indenture filed as Exhibit4.03 hereto, between The Hartford and The Chase) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 298.62 Td (Manhattan Bank, as Trustee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.80 319.52 Td (S-3/A) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 319.52 Td (333-49666) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.25 319.52 Td (4.30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.70 319.52 Td (12/27/2000) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 285.35 Td (4.05) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 284.52 Td (Supplemental Indenture No.2, dated as of September13, 2002, to the Senior) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 274.52 Td (Indenture filed as Exhibit4.03 hereto, between The Hartford and JPMorgan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 264.52 Td (Chase Bank, as Trustee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.70 284.52 Td (8-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 284.52 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.75 284.52 Td (4.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.70 284.52 Td (09/17/2002) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 250.35 Td (4.06) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 249.52 Td (Supplemental Indenture No.3, dated as of May23, 2003, to the Senior) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 239.52 Td (Indenture filed as Exhibit4.03 hereto, between The Hartford and JPMorgan) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 229.52 Td (Chase Bank, as Trustee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.70 249.52 Td (8-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 249.52 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.75 249.52 Td (4.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.70 249.52 Td (05/30/2003) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 215.35 Td (4.07) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 214.52 Td (Senior Indenture, dated as of March9, 2004, between The Hartford and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 204.52 Td (JPMorgan Chase Bank, as Trustee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.70 214.52 Td (8-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 214.52 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.75 214.52 Td (4.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.70 214.52 Td (03/12/2004) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 180.35 Td (4.08) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 179.52 Td (Junior Subordinated Indenture, dated as of February12, 2007, between The) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 169.52 Td (Hartford and LaSalle Bank, N.A., as Trustee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.70 179.52 Td (8-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 179.52 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.75 179.52 Td (4.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.70 179.52 Td (02/16/2007) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 145.35 Td (4.09) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 144.52 Td (Senior Indenture, dated as of April11, 2007, between The Hartford and The) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 134.52 Td (Bank of New York Trust Company, N.A., as Trustee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.15 144.52 Td (S-3AS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 400.15 134.52 Td (R) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 425.30 144.52 Td (333-142044) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 488.25 144.52 Td (4.03) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.90 144.52 Td (04/11/2007) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 116.35 Td (4.10) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 115.52 Td (Junior Subordinated Indenture, dated as of June6, 2008, between The) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 105.52 Td (Hartford and The Bank of New York Trust Company, N.A., as Trustee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.70 115.52 Td (8-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 115.52 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.75 115.52 Td (4.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.70 115.52 Td (06/06/2008) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 87.35 Td (4.11) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 86.52 Td (First Supplemental Indenture, dated as of June6, 2008, between The) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 76.52 Td (Hartford and The Bank of New York Trust Company, N.A., as Trustee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.70 86.52 Td (8-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 86.52 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.75 86.52 Td (4.2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.70 86.52 Td (06/06/2008) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 42.10 58.35 Td (4.12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 71.50 57.52 Td (Replacement Capital Covenant, dated as of June6, 2008.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 395.70 57.52 Td (8-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 427.80 57.52 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 490.75 57.52 Td (4.4) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 519.70 57.52 Td (06/06/2008) Tj ET Q BT /F2 10.00 Tf ET endstream endobj 499 0 obj <> endobj 500 0 obj <> stream BT /F1 9.00 Tf ET BT /F1 9.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 298.50 20.10 Td (II-4) Tj ET Q 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381 687.6 m 419 687.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419 687.6 m 473 687.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473 687.6 m 519 687.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 519 687.6 m 581 687.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 32 664.6 m 77 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 77 664.6 m 381 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 381 664.6 m 419 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 419 664.6 m 473 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 473 664.6 m 519 664.6 l s 0 0 0 RG /GS0 gs 0.50 w 0 i [] 0 d 0 J 0 j 3 M 519 664.6 m 581 664.6 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 428.80 692.05 Td (Incorporated by Reference) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 39.70 678.05 Td (Exhibit) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 47.35 669.05 Td (No.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 79.50 669.05 Td (Description) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 383.50 669.05 Td (Form) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 421.50 669.05 Td (File No.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 475.50 678.05 Td (Exhibit) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 475.50 669.05 Td (No.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 521.50 669.05 Td (Filing Date) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 46.10 656.00 Td (4.13) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 655.17 Td (Warrant to Purchase Shares of Common Stock of The Hartford Financial) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 645.17 Td (Services Group, Inc., dated June26, 2009.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.70 655.17 Td (8-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.80 655.17 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.25 655.17 Td (4.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.70 655.17 Td (06/26/2009) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 46.10 621.00 Td (4.14) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 620.17 Td (Third Supplemental Indenture, dated as of April 5, 2012, between The) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 610.17 Td (Hartford and The Bank of New York Mellon Trust Company, N.A., as) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 600.17 Td (Trustee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 387.00 620.17 Td (8-K/A) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.80 620.17 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.25 620.17 Td (4.3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.70 620.17 Td (04/06/2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 46.10 586.00 Td (4.15) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 584.27 Td (First Supplemental Indenture, dated as of August 9, 2013, between The) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 574.27 Td (Hartford and The Bank of New York Mellon Trust Company, N.A., as) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 564.27 Td (Trustee.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 585.17 Td (S-3AS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 396.15 575.17 Td (R) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.80 585.17 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 489.25 585.17 Td (4.7) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.70 585.17 Td (08/09/2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 43.85 551.00 Td (10.01) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 550.17 Td (Preferred Partnership Agreement dated December5, 2011 by and between) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 540.17 Td (The Hartford, Hartford Life, Inc., Hartford Investment Financial Services,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 530.17 Td (LLC, HL Investment Advisors, LLC and Wellington Management) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 520.17 Td (Company, LLP.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.20 550.17 Td (10-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.80 550.17 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.25 550.17 Td (10.01) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.70 550.17 Td (03/01/2013) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 43.85 506.00 Td (10.02) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 505.17 Td (Four-Year Revolving Credit Facility Agreement, dated January6, 2012,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 495.17 Td (among The Hartford, Bank of America, N.A., as administrative agent,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 485.17 Td (JPMorgan Chase Bank, N.A. and Citibank, N.A., as syndication agents,) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 475.17 Td (and the lenders referred to therein.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 391.70 505.17 Td (8-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.80 505.17 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 486.75 505.17 Td (10.1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.70 505.17 Td (01/06/2012) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 41.60 461.00 Td (*10.03) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 460.17 Td (The Hartford Senior Executive Officer Severance Pay Plan.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 389.20 460.17 Td (10-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 423.80 460.17 Td (001-13958) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 484.25 460.17 Td (10.07) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 526.90 460.17 Td (02/25/2011) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 41.60 426.00 Td (*10.04) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 425.17 Td (The Hartford Senior Executive Severance Pay Plan, as amended and) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 79.50 415.17 Td (restated effective February22, 2011.) 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