| Hartford Life, Inc. | |||
| Ticker: | HLI | 200 Hopmeadow Street | |
| Exchange: | New York Stock Exchange | Simsbury, CT 06089 | |
| Industry: | Financial (SIC Code 6719) | (860) 843-7716 | |
| Type of Shares: | Class A Common Shares | Filing Date: | 2/10/97 | |
| U.S. Shares: | 18,400,000 | Offer Date: | 5/21/97 | |
| Non-U.S. Shares: | 4,600,000 | Filing Range: | $24.00 - $27.00 | |
| Primary Shares: | 23,000,000 | Offer Price: | $28.25 | |
| Secondary Shares: | 0 | Gross Spread: | $1.62 | |
| Offering Amount: | $586,500,000 | Selling: | $1.00 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | 137,000,000 | |||
| Spin out parent firm: | ITT Hartford Group, Inc. | |||
| Manager | Tier | Phone |
| Goldman, Sachs & Co. | Lead Manager | (212) 902-5959 |
| Dean Witter Reynolds | Co-manager | (212) 392-3223 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Morgan Stanley & Co. Incorporated | Co-manager | (212) 761-5900 |
| Smith Barney Inc. | Co-manager | (212) 723-7300 |
| Issuer's Law Firm: | Cravath, Swaine & Moore |
| Bank's Law Firm: | Sullivan & Cromwell |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $4,384.00 | Assets: | $79,933.00 | ||
| Net Income: | $24.00 | Curr Assets: | |||
| EPS: | Liabilities: | $78,659.00 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | $338.00 | Equity: | $1,274.00 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a leading insurance and financial services company. The company provides 1) investment products such as individual VARIABLE ANNUITIES and FIXED MVA ANNUITIES, deferred compensation plan services and mutual funds for savings and retirement needs to over 1 million customers, 2) life insurance for income protection and estate planning to approximately 500,000 customers and 3) employee benefits products such as group life and group disability insurance for the benefit of over 15 million individuals. As of or for the year ended December 31, 1996, the company had $250 million of core earnings, $76 billion of assets, $1.245 billion of stockholder's equity. According to the latest publicly available data identified, with respect to the United States, the company is the largest writer of both total individual annuities and individual variable annuities based on new sales for the nine months ended September 30, 1996, the eighth largest consolidated life insurance company based on STATUTORY ASSETS as of December 31, 1995, and the largest writer of group short-term disability benefit plans and the second largest writer of group long-term disability products based on full-year 1995 new PREMIUM EQUIVALENTS. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to make a capital contribution to its life insurance subsidiaries, to reduce the Third-Party Indebtedness and for other general corporate purposes. |